Soros Economic Development Fund
- Assets
- $190.5m
- Revenue
- $61.3m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 11/1994
- Data as of
- 12/2021
- EIN
- 13-3965896
Organization Overview
Soros Economic Development Fund is located in New York, NY. The organization was established in 1994. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Soros Economic Development Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Soros Economic Development Fund generated $61.3m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $5.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Soros Economic Development Fund has awarded 12 individual grants totaling $2,083,504. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Hinton CEO | 40 | $0 | |
Catherine Cax Director Of Investment | 40 | $0 | |
James Beaver Treasurer | 40 | $0 | |
Maija Arbolino Director | 1 | $0 | |
Leonard Benardo Director | 1 | $0 | |
Gregory Taylor Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Michel Mores | 12/30/21 | $556,731 |
Palladium Impact Capital Limited | 12/30/21 | $165,000 |
Kpmg Llp | 12/30/21 | $116,443 |
Market Access Africa Sarl | 12/30/21 | $143,351 |
Rootbridge Academy Of Giving Pvt Ltd | 12/30/21 | $129,334 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $70,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $931,323 |
| Capital Gain Net Income | $1,092,100 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$9,658,009 |
| Total Revenue | $61,273,314 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,540 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,819,225 |
| Total operating and administrative expenses | $4,571,261 |
| Contributions, gifts, grants paid | $1,105,950 |
| Total expenses and disbursements | $5,677,211 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,500,183 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $314,857 |
| Net Pledges Receivable | $62,331,184 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $93,420 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $120,263,561 |
| Total assets | $190,503,205 |
| Accounts payable and accrued expenses | $238,944 |
| Grants payable | $61,310 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $397,550 |
| Total liabilities | $697,804 |
Grants Awarded
Over the last fiscal year, Soros Economic Development Fund has awarded $1,050,950 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Oakland, CA PURPOSE: TO PROVIDE BRIDGE FUNDING TO CLOSE OXYGEN HUB'S FUNDING GAP IN ITS OPERATING AND CAPITAL EXPENDITURES RELATED TO THE UNEXPECTED DELAYS IN (I) SETTING UP THREE (3) MEDICAL OXYGEN PLANTS IN NIGERIA, KENYA AND ETHIOPIA, AND (II) RAISING AN EQUITY INVESTMENT ROUND (THE "INITIATIVE") | $300,000 |
AVON MUTUAL LTD PURPOSE: TO PROVIDE RELIEF TO THE POOR AND DISTRESSED AND UNDERPRIVILEGED BY FUNDING THE ESTABLISHMENT OF A COOPERATIVE BANKING BUSINESS | $175,475 |
SOUTHWEST MUTUAL LTD PURPOSE: TO PROVIDE RELIEF TO THE POOR AND DISTRESSED AND UNDERPRIVILEGED BY FUNDING THE ESTABLISHMENT OF A COOPERATIVE BANKING BUSINESS | $175,475 |
INTERNATIONAL DEVELOPMENT RESEARCH CENTRE (IDRC) PURPOSE: TO PROVIDE FUNDING FOR THE GRANTEE'S RESEARCH INITIATIVE TITLED BUILDING ALLIANCES TO TRANSFORM THE CARE ECONOMY IN THE GLOBAL SOUTH THROUGH IMPACT INVESTING | $150,000 |
Washington, DC PURPOSE: TO PROVIDE RELIEF TO THE POOR AND DISTRESSED AND UNDERPRIVILEGED BY FUNDING THE ESTABLISHMENT OF A COOPERATIVE BANKING BUSINESS IN SOUTHWEST ENGLAND THAT AIMS TO INCREASE THE ACCESSIBILITY OF BANKING SERVICES FOR LOW-INCOME, UNDER BANKED OR UN-BANKED POPULATIONS, WITH A PARTICULAR FOCUS ON LOW INCOME PENSIONERS AND UNDERSERVED ADULTS AND CERTAIN NEIGHBORHOODS THAT ARE AMONG THE MOST DEPRIVED ACCORDING TO THE UK INDICES OF MULTIPLE DEPRIVATION | $125,000 |
ASWEGROW LIMITED PURPOSE: TO PROVIDE FUNDING FOR THE PROFESSIONAL DEVELOPMENT OF DISADVANTAGED TEACHERS BY CREATING A REVENUE GENERATING LEARNING PLATFORM THAT WILL PROVIDE A BLUEPRINT ON EFFECTIVE BLENDED EDUCATION AT SCHOOL LEVEL, AND IMPROVE THE EFFECTIVENESS OF THE GRANTEE'S AIM TO ALLEVIATE POVERTY FOR DISADVANTAGED POPULATIONS IN THE LONG RUN. | $95,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Soros Economic Development Fund has recieved totaling $109,973,485.
| Awarding Organization | Amount |
|---|---|
Foundation To Promote Open Society New York, NY PURPOSE: TO SUPPORT GRANTEE'S PROGRAM RELATED INVESTMENT ACTIVITIES | $62,331,184 |
Foundation To Promote Open Society New York, NY PURPOSE: TO SUPPORT GRANTEE'S PROGRAM RELATED INVESTMENT ACTIVITIES | $39,973,485 |
Foundation To Promote Open Society New York, NY PURPOSE: TO SUPPORT GRANTEE'S PROGRAM RELATED INVESTMENT ACTIVITIES | $7,668,816 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Grace Farms Foundation New Canaan, CT | $127,278,874 | $14,337,032 |
Build Health International Inc Beverly, MA | $9,391,112 | $16,132,621 |
China Medical Board Inc Cambridge, MA | $0 | $15,367,231 |
Rubin Museum Of Art New York, NY | $219,341,965 | $20,862,684 |
Pussycat Foundation New York, NY | $113,070,433 | $12,403,154 |
Tippet Rise Foundation New York, NY | $46,097,612 | $11,599,378 |
Gerry Foundation Inc Liberty, NY | $111,892,284 | $11,122,515 |
Moise Y Safra Foundation Inc New York, NY | $57,760,218 | $6,334,851 |
Rockefeller Archive Center Sleepy Hollow, NY | $198,097,366 | $11,995,066 |
Black River Outdoor Education Program Inc Great Neck, NY | $0 | $235,026 |
Tiger Baron Foundation Inc New York, NY | $135,800,192 | $10,090,454 |
Institute For Aegean Prehistory New York, NY | $0 | $4,040,162 |