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 |