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Corporate Structure

RSF Social Finance (Rudolf Steiner Foundation, Inc.) is a New York State, not-for-profit corporation; and is federally tax-exempt under IRS Section 501(c)(3) of U.S. tax code. RSF Social Finance is also the parent corporation for supporting organizations. What follows are the audited financial statements: Report for RSF Social Finance and RSF Social Investment Fund, Inc. (SIF), a tax-exempt, non-profit supporting entity registered to accept investment notes in 49 states in the U.S., and to make loans to non-profit mission-aligned organizations.

Consolidated Statement of Financial Position
Dollars in thousands
2019 2018
ASSETS
Cash and Cash Equivalents $33,178  $23,033
Mission related investments:
Loans receivable, net of allowance for loan losses 115,192 130,359
Investments, at fair value 77,366 64,602
Investments, held at cost 8,691 5,913
Prepaid expenses & other assets 2,029 2,007
TOTAL ASSETS $236,456 $225,914
LIABILITIES AND NET ASSETS
LIABILITIES
Accounts payable and accrued expenses $1,474 $906
Investor notes payable 131,431 129,265
Other notes payable 13,494 8,105
TOTAL LIABILITIES 146,399 138,276
NET ASSETS
Net assets without donor restrictions
     Board designated operating reserve account 5,195 700
     Other net assets without donor restrictions 84,712 86,788
Total net assets without donor restrictions 89,907 87,488
Net assets with donor restrictions 150 150
TOTAL NET ASSETS 90,057 87,638
TOTAL LIABILITIES AND NET ASSETS $236,456 $225,914

Consolidated Statement of Activities & Changes in Net Assets

Dollars in thousands
2019 2018
REVENUES, GAINS AND OTHER SUPPORT
Management and other fee income $1,009 685
Net interest, fees, and investment income
     Interest and fees — loans receivable 7,421 7,095
     Investment income, net 777 1,101
Net management fees, interest, fees, and investment income 9,208 8,881
Gifts and Contributions 34,492 29,361
Program Revenue 295 231
TOTAL REVENUES, GAINS AND OTHER SUPPORT 43,995 38,473
EXPENSES
Program services 31,851 24,909
Management and general 9,725 8,421
TOTAL EXPENSES 41,575 33,329
CHANGES IN NET ASSETS 2,419 5,144
NET ASSETS AT BEGINNING OF YEAR 87,638 82,494
NET ASSETS AT END OF YEAR $90,057 $87,638
Audited Financial Statements 2017 – 2019
  • 2019 RSF Consolidated Financial Statement
  • 2018 RSF Consolidated Financial Statement
  • 2017 RSF Consolidated Financial Statement
  • 2018 RSF Social Investment Fund Financial Statement
  • 2017 RSF Social Investment Fund Financial Statement
  • 2018 Form 990
  • 2017 Form 990
  • 2016 Form 990