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Nonprofiteer
← RSF SOCIAL INVESTMENT FUND INC

Form 990 for tax year 2023

Filed by RSF SOCIAL INVESTMENT FUND INC.

Totals

Total revenue
$6,578,017
Total expenses
$5,101,923
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$6,034,226
Investment income
$543,791
Other revenue
$0
Total assets, end of year
$138,000,504
Total liabilities, end of year
$124,774,270
Net assets or fund balances, end of year
$13,226,234
Program services expenses (Part IX)
$3,975,762
Management and general expenses
$1,126,161
Fundraising expenses
$0
Program service expenses (Part III)
$3,975,762

Program services were 77.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INT INCOME - BORROWER FUNDS

    total $5,312,744 · related or exempt $4,114,915 · unrelated business $1,197,829

  • 2b · Program service revenue: FEE INCOME

    total $445,332 · related or exempt $437,126 · unrelated business $8,206

  • 2c · Program service revenue: INT INCOME - RELATED ORGS

    total $276,150 · related or exempt $276,150

  • 3 · Investment income

    total $543,791 · excluded $543,791

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $619,813 · program services $230,978 · management and general $388,835

  • 7 · Other salaries and wages

    total $1,930,386 · program services $1,650,887 · management and general $279,499

  • 8 · Pension plan contributions

    total $12,722 · program services $11,260 · management and general $1,462

  • 9 · Other employee benefits

    total $286,988 · program services $244,306 · management and general $42,682

  • 10 · Payroll taxes

    total $176,815 · program services $132,611 · management and general $44,204

  • 11b · Fees: legal

    total $218,046 · program services $163,534 · management and general $54,512

  • 11c · Fees: accounting

    total $82,171 · program services $61,628 · management and general $20,543

  • 11g · Fees: other

    total $255,221 · program services $90,802 · management and general $164,419

  • 12 · Advertising and promotion

    total $76,902 · program services $57,676 · management and general $19,226

  • 13 · Office expenses

    total $12,177 · program services $9,133 · management and general $3,044

  • 14 · Information technology

    total $120,710 · program services $90,532 · management and general $30,178

  • 16 · Occupancy

    total $62,471 · program services $46,853 · management and general $15,618

  • 17 · Travel

    total $55,892 · program services $41,919 · management and general $13,973

  • 19 · Conferences, conventions and meetings

    total $32,950 · program services $24,712 · management and general $8,238

  • 20 · Interest

    total $999,414 · program services $999,414

  • 23 · Insurance

    total $113,556 · program services $85,167 · management and general $28,389

  • 24a · Other expenses: DUES & SUBSCRIPTIONS

    total $6,983 · program services $5,237 · management and general $1,746

  • 24b · Other expenses: MEMBERSHIP EXPENSES

    total $4,200 · program services $3,150 · management and general $1,050

  • 24c · Other expenses: STAFF APPRECIATION

    total $2,768 · program services $2,076 · management and general $692

  • 24d · Other expenses: STAFF RETREAT

    total $1,824 · program services $1,368 · management and general $456

  • 24e · All other expenses

    total $29,914 · program services $22,519 · management and general $7,395

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,816,292 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $41,771,862 · end of year $13,680,937

  • 9 · Prepaid expenses and deferred charges

    beginning of year $698 · end of year $7,793

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $15,488,252

  • 13 · Investments: program-related

    beginning of year $89,234,746 · end of year $100,748,091

  • 15 · Other assets

    beginning of year $9,072,991 · end of year $8,075,431

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,928,956 · end of year $5,005,253

  • 19 · Deferred revenue

    beginning of year $138,012 · end of year $153,512

  • 22 · Loans and payables to officers and key people

    beginning of year $34,167 · end of year $39,984

  • 24 · Unsecured notes and loans payable

    beginning of year $125,960,595 · end of year $116,575,521

  • 25 · Other liabilities

    beginning of year $3,000,000 · end of year $3,000,000

  • 27 · Net assets without donor restrictions

    beginning of year $11,834,859 · end of year $13,226,234

Mission and programs · 2023

Mission

RSF SOCIAL INVESTMENT FUND, INC. WAS CREATED AS AN AFFILIATE OF RSF SOCIAL FINANCE, INC. (RSF) WHOSE PRIMARY MISSION IS TO PROVIDE LOANS TO MISSION-ALIGNED ORGANIZATIONS AND PROJECTS.

Activities or mission (Part I)

SUPPORT OF RSF SOCIAL FINANCE THROUGH MISSION-RELATED LOANS.

  • THE ORGANIZATION SUPPORTS THE CHARITABLE ACTIVITIES OF RSF THROUGH A PROGRAM OF LOANS TO MISSION-ALIGNED ORGANIZATIONS AND PROJECTS.

    Expenses $3,975,762 · Revenue $6,034,224

As filed on the 2023 return.

Listed in Part VII

  • JASPER J VAN BRAKEL

    CEO & DIRECTOR

    Total calculated
    $457,885
    From this org
    $0
    From related orgs
    $409,160
    Other
    $48,725
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $392,910 related
    Bonus
    $0 + $16,000 related
    Other
    $0 + $250 related
    Deferred
    $0 + $2,500 related
    Nontaxable benefits
    $0 + $46,225 related
    Filer's total
    $0 + $457,885 related

  • MICHELLE BRUNO

    CHIEF OPERATING OFFICER

    Total calculated
    $312,043
    From this org
    $0
    From related orgs
    $277,750
    Other
    $34,293
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $262,500 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $250 related
    Deferred
    $0 + $1,458 related
    Nontaxable benefits
    $0 + $32,835 related
    Filer's total
    $0 + $312,043 related

  • SYLVIA LEE

    VP, FINANCE & TREASURER

    Total calculated
    $263,094
    From this org
    $0
    From related orgs
    $222,358
    Other
    $40,736
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $217,708 related
    Bonus
    $0 + $4,400 related
    Other
    $0 + $250 related
    Deferred
    $0 + $2,500 related
    Nontaxable benefits
    $0 + $38,236 related
    Filer's total
    $0 + $263,094 related

  • LEE MERKLE-RAYMOND

    CHAIR THRU 5/2023 / DIR START 5/2023

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • AMIR KIRKWOOD

    DIR THRU 5/2023 / CHAIR START 5/2023

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • RON ALSTON

    DIRECTOR THRU 5/2023

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • KONDA MASON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • ELISSA SANGALLI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE CHIEF EXECUTIVE OFFICER IS COMPENSATED BY RSF SOCIAL FINANCE, A RELATED ORGANIZATION. RSF SOCIAL FINANCE UTILIZED THE FOLLOWING METHODS TO DETERMINE THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, FORM 990 OF OTHER ORGANIZATIONS, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • RSF SOCIAL FINANCE INC

    501(C)(3) · INVESTING, LENDING, AND GIVING SERVICES TO IMPROVE SOCIETY AND ENVIRONMENT · NY

  • GINUNGAGAP FOUNDATION

    501(C)(3) · SUPPORT AND OPERATE PROGRAMS OF RSF · CA

    Directly controlled by RSF SOCIAL FINANCE INC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202403199349318370

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