RSF Social Finance 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.
Dollars in thousands |
2023 | 2022 | |
---|---|---|---|
ASSETS | |||
Cash and Cash Equivalents | 23,805 | 52,551 | |
Mission related investments: | |||
Loans receivable, net of allowance | 100,748 | 89,385 | |
Investments | 93,684 | 78,072 | |
Prepaid expenses & other assets | 1,238 | 1,070 | |
TOTAL ASSETS | 219,474 | 221,078 | |
LIABILITIES AND NET ASSETS | |||
LIABILITIES | |||
Accounts payable and accrued expenses | 5,784 | 2,441 | |
Investor notes payable | 107,613 | 118,297 | |
Other notes payable | 9,003 | 8,000 | |
TOTAL LIABILITIES | 122,400 | 128,738 | |
NET ASSETS | |||
Net assets without donor restrictions | 96,925 | 92,056 | |
Net assets with donor restrictions | 150 | 284 | |
TOTAL NET ASSETS | 97,074 | 92,340 | |
TOTAL LIABILITIES AND NET ASSETS | 219,474 | 221,078 | |
Consolidated Statement of Activities & Changes in Net Assets |
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Dollars in thousands |
2023 | 2022 | |
REVENUES, GAINS AND OTHER SUPPORT | |||
Management and other fee income | 1,025 | 793 | |
Interest and investment income, net | 8,131 | 2,315 | |
Gifts and Contributions | 48,613 | 34,849 | |
Program Revenue | 210 | 108 | |
TOTAL REVENUES, GAINS AND OTHER SUPPORT | 57,979 | 38,064 | |
EXPENSES | |||
Program services | 51,271 | 46,743 | |
Management and general | 1,890 | 1,924 | |
TOTAL EXPENSES | 53,160 | 48,667 | |
CHANGES IN NET ASSETS | 4,819 | (10,603) | |
NET ASSETS AT BEGINNING OF YEAR | 92,255 | 102,943 | |
NET ASSETS AT END OF YEAR | 97,074 | 92,340 |