Social Capital Fund
- Assets
- $4.2m
- Revenue
- $544.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 11/2015
- Data as of
- 12/2021
- EIN
- 47-4670143
Organization Overview
Social Capital Fund is located in Providence, RI. The organization was established in 2015. According to its NTEE Classification (T19) the organization is classified as: Support N.E.C., 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. Social Capital 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, Social Capital Fund generated $544.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 29.8% each year . All expenses for the organization totaled $951.4k during the year ending 12/2021. While expenses have increased by 6.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE ACTIVITES OF ITS PARENT ORGANIZATION, THE CAPITAL GOOD FUND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVICED THE CAPITAL GOOD FUND'S GROWING SMALL-DOLLAR PERSONAL LOAN PORTFOLIO, ENSURING EFFICIENCY AND CONVENIENCE FOR THE CUSTOMER AND STRONG PREPAYMENT RATES FOR THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Libby Kimzey Co-Chair | OfficerTrustee | 1 | $0 |
Betsy Harris Co-Chair | OfficerTrustee | 1 | $0 |
Jay Fossett Treasurer | OfficerTrustee | 1 | $0 |
Arthur S Gabinet Secretary | OfficerTrustee | 1 | $0 |
Andrew Posner Founder & CEO | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $35 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35 |
| Total Program Service Revenue | $538,255 |
| Investment income | $5,806 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $544,096 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $390,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $278,190 |
| Advertising and promotion | $0 |
| Office expenses | $295 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $282,959 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $951,444 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,158,038 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,284 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,168,322 |
| Accounts payable and accrued expenses | $241,800 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $80,500 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $7,298,231 |
| Other liabilities | $0 |
| Total liabilities | $7,620,531 |
| Net assets without donor restrictions | -$3,452,209 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,168,322 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Social Capital Fund has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Julian Grace Foundation Highland Park, IL PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Edward And Mary Lord Foundation North Franklin, CT | $19,072,145 | $1,295,529 |
Social Capital Fund Providence, RI | $4,168,322 | $544,096 |
Soldier On Development & Management Company Inc Pittsfield, MA | $435,591 | $411,238 |
Community Foundations Service Corporation Sheffield, MA | $560,216 | $478,044 |
Reader To Reader Inc Amherst, MA | $590,992 | $273,971 |
Marthas Vineyard Donors Collaborative Inc Edgartown, MA | $229,430 | $250,575 |
Martin Luther King Jr Breakfast Committee Inc Roxbury Crossing, MA | $57,398 | $138,088 |
Indigo Support Corporation Dorchester, MA | $13,923,338 | $447,404 |
Cat Rescue Fund Inc Salem, MA | $9,213 | $0 |
Dragonfly Development Resources Inc Cumberland, RI | $103,854 | $55,022 |
Civic Investments Inc Boston, MA | $402,395 | $0 |
Johnny Yee Foundation Springfield, MA | $781 | $0 |