Social Finance
Social Finance reported $79.1 million in revenue and $36.4 million in expenses for calendar year 2024. Of every $100 it spent, $81.22 went to program services, $17.89 to management and general costs and $0.89 to fundraising. Its largest source of revenue was contributions and grants: 81.5% of the total. Government grants made up 11.8%. The highest compensation it reported for one person was $826,471 (CEO & Co-Founder). 95 people received more than $100,000 in reportable compensation. Revenue rose 234% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $36MFor context, the median across 3,614 covered human services charities: $88.27 programs, $11.52 management, $0.21 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $79MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 81.2% | 87.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 17.9% | 11.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.9% | 0.2% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.01 | $0.02 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 81.5% | 20.6% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 11.8% | 2.4% |
| Program service revenue share Part VIII 2g ÷ 12 | 11.3% | 70.8% |
| Highest reported compensation Part VII-A, columns D–F | $826,471 | $274,992 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.27% | 1.18% |
| People paid over $100,000 Part VII, line 2 | 95 | 6 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 56.9 | 6.9 |
| Independent voting board members Part VI 1a–1b | 14 of 15 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseNo description in Part III; see the filing.
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CEO & Co-Founder Director/trustee, officer, 40.0 hrs/week | $789,674 | $0 | $36,797 | $826,471 |
| President & COO Officer, 40.0 hrs/week | $383,937 | $0 | $27,112 | $411,049 |
| CHIEF FINANCIAL OFFICER Officer, 40.0 hrs/week | $302,680 | $0 | $31,694 | $334,374 |
| MANAGING DIRECTOR, Impact Adv. Officer, 40.0 hrs/week | $297,535 | $0 | $27,180 | $324,715 |
| MANAGING DIR, SFI Officer, 40.0 hrs/week | $291,355 | $0 | $26,166 | $317,521 |
| General Counsel(until 12/6/24) Officer, 40.0 hrs/week | $249,491 | $0 | $25,841 | $275,332 |
| VP, Impact Investments Highest compensated employee, 40.0 hrs/week | $237,195 | $0 | $36,962 | $274,157 |
| VP, Impact Investments Highest compensated employee, 40.0 hrs/week | $238,720 | $0 | $26,775 | $265,495 |
95 people received more than $100,000 in reportable compensation from Social Finance (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.7M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b15 · 14 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14No
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5137
- Volunteers Part I, line 614
Private foundation grants it received
16 private foundations reported grants to Social Finance totaling $7.3M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Social Finance's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Social Finance, you can publish a response that is linked from this page.
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Of every $100 Social Finance spent in 2024, $81.22 went to programs. The full breakdown, from its IRS Form 990:
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All human services charities · Largest charities in Massachusetts
Questions people ask
How much of Social Finance's spending goes to programs?
In calendar year 2024, Social Finance reported that 81.2% of its $36.4 million in expenses went to program services, 17.9% to management and general and 0.9% to fundraising (Form 990, Part IX).
How much does Social Finance pay its top executive?
The largest total compensation Social Finance reported for one person in calendar year 2024 was $826,471, for the role of CEO & Co-Founder (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Social Finance get its money?
Of $79.1 million in revenue in calendar year 2024, 81.5% came from contributions and grants (including 11.8% from government grants) and 11.3% from program service revenue (Form 990, Part VIII).
Is Social Finance a registered charity?
The IRS lists EIN 27-4620963 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202533219349321553 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202443199349311219 · read the filing
- 2022: Form 990 for calendar year 2022, object 202303199349309095 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203189349319000 · read the filing
- 2020: Form 990 for calendar year 2020, object 202113199349326341 · read the filing
- 2019: Form 990 for calendar year 2019, object 202003169349302355 · read the filing
All filings for EIN 27-4620963: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.