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 |
2021 | 2020 | |
|---|---|---|---|
| ASSETS | |||
| Cash and Cash Equivalents | $54,154 | $44,025 | |
| Mission related investments: | |||
| Loans receivable, net of allowance | 88,709 | 102,238 | |
| Investments | 96,322 | 100,140 | |
| Prepaid expenses & other assets | 1,026 | 1,066 | |
| TOTAL ASSETS | $240,211 | $247,468 | |
| LIABILITIES AND NET ASSETS | |||
| LIABILITIES | |||
| Accounts payable and accrued expenses | $4,007 | $1,981 | |
| Investor notes payable | 125,261 | 138,294 | |
| Other notes payable | 8,000 | 3,982 | |
| TOTAL LIABILITIES | 137,268 | 144,257 | |
| NET ASSETS | |||
| Net assets without donor restrictions | 102,635 | 102,630 | |
| Net assets with donor restrictions | 309 | 582 | |
| TOTAL NET ASSETS | 102,943 | 103,212 | |
| TOTAL LIABILITIES AND NET ASSETS | $240,211 | $247,468 | |
Consolidated Statement of Activities & Changes in Net Assets |
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Dollars in thousands |
2021 | 2020 | |
| REVENUES, GAINS AND OTHER SUPPORT | |||
| Management and other fee income | $2,068 | $1,359 | |
| Interest and investment income, net | 6,156 | 7,519 | |
| Gifts and Contributions | 45,808 | 58,174 | |
| Program Revenue | 166 | 307 | |
| TOTAL REVENUES, GAINS AND OTHER SUPPORT | 54,198 | 67,359 | |
| EXPENSES | |||
| PROGRAM SERVICES | |||
| Interest expense on investor funds | $975 | $1,130 | |
| Loan loss provision | 386 | 1,838 | |
| Grants made to programs | 41,535 | 35,589 | |
| Other projects and program expenses | 1,640 | 1,546 | |
| Personnel costs | 3,328 | 5,036 | |
| TOTAL PROGRAM SERVICES | 47,865 | 45,139 | |
| SUPPORTING SERVICES | |||
| Management and general | 6,602 | 9,065 | |
| TOTAL EXPENSES | 54,467 | 54,205 | |
| CHANGES IN NET ASSETS | (269) | 13,155 | |
| NET ASSETS AT BEGINNING OF YEAR | 103,212 | 90,057 | |
| NET ASSETS AT END OF YEAR | $102,943 | $103,212 | |