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Nonprofiteer
← RSF SOCIAL FINANCE INC

Form 990 for tax year 2022

Filed by RSF SOCIAL FINANCE INC.

Totals

Total revenue
$35,449,259
Total expenses
$44,402,782
Contributions and grants received
$34,848,527
Grants paid
$41,752,535
Program service revenue
$814,067
Investment income
-$213,574
Other revenue
$239
Total assets, end of year
$128,983,791
Total liabilities, end of year
$44,795,073
Net assets or fund balances, end of year
$84,188,718
Program services expenses (Part IX)
$43,697,758
Management and general expenses
$705,024
Fundraising expenses
$0
Program service expenses (Part III)
$43,697,758

Program services were 98.4% 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.

  • 1f · All other contributions, gifts and grants

    $34,848,527

  • 1g · Noncash contributions included above

    $5,141,210

  • 2a · Program service revenue: MGMT, FEE, & INT INC - BORROWER F

    total $800,542 · related or exempt $763,527 · unrelated business $37,015

  • 2b · Program service revenue: OTHER PROGRAM REVENUE

    total $13,525 · related or exempt $13,525

  • 3 · Investment income

    total $278,584 · excluded $278,584

  • 7a · Gross sales of assets other than inventory

    securities $10,679,443

  • 7b · Less cost or other basis and sales expenses

    securities $11,171,601

  • 7c · Gain or loss

    securities -$492,158

  • 7d · Net gain or loss

    total -$492,158 · excluded -$492,158

  • 11a · Other revenue: UBI FROM PASSTHROUGHS

    total $239 · unrelated business $239

  • 11e · Other revenue, total

    $239

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $33,494,960 · program services $33,494,960

  • 2 · Grants to domestic individuals

    total $42,200 · program services $42,200

  • 3 · Grants to foreign organizations and individuals

    total $8,215,375 · program services $8,215,375

  • 5 · Compensation of officers, directors and key employees

    total $651,387 · program services $405,030 · management and general $246,357

  • 7 · Other salaries and wages

    total $805,572 · program services $676,078 · management and general $129,494

  • 8 · Pension plan contributions

    total $16,518 · program services $13,055 · management and general $3,463

  • 9 · Other employee benefits

    total $83,835 · program services $73,821 · management and general $10,014

  • 10 · Payroll taxes

    total $87,704 · program services $65,778 · management and general $21,926

  • 11b · Fees: legal

    total $14,596 · management and general $14,596

  • 11c · Fees: accounting

    total $44,985 · management and general $44,985

  • 11g · Fees: other

    total $216,890 · program services $151,490 · management and general $65,400

  • 12 · Advertising and promotion

    total $78,595 · program services $62,876 · management and general $15,719

  • 13 · Office expenses

    total $8,234 · program services $7,660 · management and general $574

  • 14 · Information technology

    total $149,456 · program services $139,041 · management and general $10,415

  • 16 · Occupancy

    total $44,481 · program services $41,381 · management and general $3,100

  • 17 · Travel

    total $13,468 · program services $10,774 · management and general $2,694

  • 19 · Conferences, conventions and meetings

    total $2,586 · program services $2,318 · management and general $268

  • 20 · Interest

    total $223,816 · program services $223,816

  • 22 · Depreciation, depletion and amortization

    total $8,729 · program services $8,121 · management and general $608

  • 23 · Insurance

    total $72,212 · management and general $72,212

  • 24a · Other expenses: STAFF RETREAT

    total $29,270 · program services $21,952 · management and general $7,318

  • 24b · Other expenses: TAXES / FILING FEES

    total $28,887 · management and general $28,887

  • 24c · Other expenses: MEMBERSHIP DUES

    total $10,663 · program services $7,997 · management and general $2,666

  • 24d · Other expenses: LOAN LOSS PROVISION

    total -$161,953 · program services -$161,953

  • 24e · All other expenses

    total $220,316 · program services $195,988 · management and general $24,328

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $114 · end of year $79

  • 2 · Savings and temporary cash investments

    beginning of year $6,922,316 · end of year $2,564,066

  • 9 · Prepaid expenses and deferred charges

    beginning of year $127,987 · end of year $244,072

  • 10a · Land, buildings and equipment: cost or other basis

    $1,450,072

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,399,851

  • 10c · Land, buildings and equipment, net

    beginning of year $53,482 · end of year $50,221

  • 11 · Investments: publicly traded securities

    beginning of year $74,228,365 · end of year $66,295,409

  • 12 · Investments: other securities

    beginning of year $24,627,986 · end of year $20,314,944

  • 13 · Investments: program-related

    beginning of year $3,188,756 · end of year $3,150,064

  • 15 · Other assets

    beginning of year $36,095,781 · end of year $36,364,936

  • 17 · Accounts payable and accrued expenses

    beginning of year $196,133 · end of year $369,437

  • 24 · Unsecured notes and loans payable

    beginning of year $3,265,886 · end of year $302,741

  • 25 · Other liabilities

    beginning of year $46,868,961 · end of year $44,122,895

  • 27 · Net assets without donor restrictions

    beginning of year $94,605,154 · end of year $83,904,543

  • 28 · Net assets with donor restrictions

    beginning of year $308,653 · end of year $284,175

Mission and programs · 2022

Mission

TO CATALYZE TRANSFORMATION BY CIRCULATING CAPITAL TO SOCIAL ENTERPRISES FOR A MORE JUST, REGENERATIVE, AND COMPASSIONATE WORLD.

Activities or mission (Part I)

LENDING AND GRANTMAKING TO NOT-FOR-PROFIT AND SOCIALLY BENEFICIAL ORGANIZATIONS.

  • IN 2022, RSF SOCIAL FINANCE MADE GRANTS TO A VARIETY OF ORGANIZATIONS AND PROJECTS ALIGNED WITH THE FOUNDATION'S CHARITABLE MISSION TO PROMOTE A MORE SUSTAINABLE WORLD. IN ADDITION TO GRANTS MADE, RSF PROVIDED MISSION-RELATED LOANS TO FOR-PROFIT SOCIAL ENTERPRISES AND NON-PROFIT ORGANIZATIONS.

    Expenses $43,697,758 · Grants $41,752,535 · Revenue $814,067

As filed on the 2022 return.

Listed in Part VII

  • JASPER J VAN BRAKEL

    CEO & TRUSTEE

    Total calculated
    $415,244
    From this org
    $385,289
    From related orgs
    $0
    Other
    $29,955
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $384,939
    Bonus
    $0
    Other
    $350
    Deferred
    $2,500
    Nontaxable benefits
    $27,455
    Filer's total
    $415,244

  • RON ALSTON

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • CJ CALLEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JOCELYN ROMERO DEMIRBAG

    TRUSTEE THROUGH 4/2022

    Total calculated
    $0
    Hours/week
    2

  • RACHAEL FLUG

    TRUSTEE THROUGH 4/2022

    Total calculated
    $0
    Hours/week
    2

  • TAYLOR JORDAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JOVIAL KING

    TRUSTEE THROUGH 10/2022

    Total calculated
    $0
    Hours/week
    2

  • AMIR KIRKWOOD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • KONDA MASON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • DR DAVID E MCCLEAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • LEE MERKLE-RAYMOND

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • INGRID RYAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • STEPHANIE RYNAS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ELISSA SANGALLI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • SCOTT WILLIAMS

    TRUSTEE THROUGH 4/2022

    Total calculated
    $0
    Hours/week
    2

  • APRIL HINES

    CFO & TREASURER THROUGH 2/2022

    Total calculated
    $60,168
    From this org
    $57,098
    From related orgs
    $0
    Other
    $3,070
    Hours/week
    40 + 1 related

  • SYLVIA LEE

    VP, FINANCE & TREASURER START 2/2022

    Total calculated
    $245,257
    From this org
    $205,921
    From related orgs
    $0
    Other
    $39,336
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $205,571
    Bonus
    $0
    Other
    $350
    Deferred
    $2,500
    Nontaxable benefits
    $36,836
    Filer's total
    $245,257

  • MICHELLE BRUNO

    VP, OPERATIONS & SECRETARY

    Total calculated
    $205,694
    From this org
    $187,850
    From related orgs
    $0
    Other
    $17,844
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $187,500
    Bonus
    $0
    Other
    $350
    Deferred
    $0
    Nontaxable benefits
    $17,844
    Filer's total
    $205,694

  • MINDY CHRISTENSEN

    VP, LENDING THROUGH 6/2022

    Total calculated
    $103,657
    From this org
    $98,331
    From related orgs
    $0
    Other
    $5,326
    Hours/week
    40

  • MICHAEL JONES

    VP, LENDING BUSINESS DEVELOPMENT

    Total calculated
    $193,375
    From this org
    $169,933
    From related orgs
    $0
    Other
    $23,442
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,583
    Bonus
    $0
    Other
    $350
    Deferred
    $417
    Nontaxable benefits
    $23,025
    Filer's total
    $193,375

  • ERIKA WILLIAMS

    VP, CLIENT DEVELOPMENT

    Total calculated
    $220,065
    From this org
    $207,050
    From related orgs
    $0
    Other
    $13,015
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,700
    Bonus
    $0
    Other
    $350
    Deferred
    $2,500
    Nontaxable benefits
    $10,515
    Filer's total
    $220,065

  • DANA STRANZ

    VP, CREDIT AND RISK

    Total calculated
    $185,009
    From this org
    $167,890
    From related orgs
    $0
    Other
    $17,119
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,540
    Bonus
    $0
    Other
    $350
    Deferred
    $625
    Nontaxable benefits
    $16,494
    Filer's total
    $185,009

  • MELINDA LARSEN

    SENIOR DIRECTOR, MARKETING

    Total calculated
    $191,034
    From this org
    $158,205
    From related orgs
    $0
    Other
    $32,829
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,855
    Bonus
    $0
    Other
    $350
    Deferred
    $2,500
    Nontaxable benefits
    $30,329
    Filer's total
    $191,034

  • ALICIA PEMAN-DUPIER

    SENIOR RELATIONSHIP MANAGER, LENDING

    Total calculated
    $175,478
    From this org
    $151,950
    From related orgs
    $0
    Other
    $23,528
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,600
    Bonus
    $0
    Other
    $350
    Deferred
    $417
    Nontaxable benefits
    $23,111
    Filer's total
    $175,478

  • JON WEBB

    MANAGER, FINANCE

    Total calculated
    $132,257
    From this org
    $113,786
    From related orgs
    $0
    Other
    $18,471
    Hours/week
    40

  • AMY BIRD

    SENIOR RELATIONSHIP MANAGER, LENDING

    Total calculated
    $141,288
    From this org
    $111,722
    From related orgs
    $0
    Other
    $29,566
    Hours/week
    40

  • ELLEN PICKRELL

    SENIOR RELATIONSHIP MANAGER, LENDING

    Total calculated
    $116,764
    From this org
    $108,576
    From related orgs
    $0
    Other
    $8,188
    Hours/week
    40

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

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.

  • RSF CAPITAL MANAGEMENT PBC

    C · MANAGING FOR-PROFIT ACTIVITIES ON BEHALF OF RSF · DE · 100% owned · share of assets $3,764,243 · controlled entity

    Directly controlled by RSF SOCIAL FINANCE INC

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202333189349318443

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