RSF Social Finance

aka RSF Social Finance | San Francisco, CA | www.rsfsocialfinance.org

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GuideStar Charity Check

RSF Social Finance

EIN: 13-6082763

Contributions tax deductible
as of November 2023

IRS BMF 509(a)(1)
as of November 13, 2023

View summary

Charity Check report

Mission

To create financial relationships that are direct, transparent, personal, and focused on the long-term social, economic, and environmental benefits to society. We achieve our mission by offering investors and donors dynamic ways to align their money with their values, connecting social enterprises with diverse forms of capital, empowering leaders, and advancing innovations in the field of social finance.

Ruling year info

1942

Chief Executive Officer

Jasper J. van Brakel

Main address

P.O. Box 2007

San Francisco, CA 94126 USA

Show more contact info

EIN

13-6082763

Subject area info

Arts and culture

Education

Environment

Philanthropy and public policy

Nonprofits

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Population served info

Adults

Activists

NTEE code info

Public Foundations (T30)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Show Forms 990

Communication

Blog

Affiliations

See related organizations info

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

Throughout our lives, many of us are trying to be a part of something bigger than ourselves. But often, the economic systems we participate in separate us from our values and communities. The negative effects of how we do business undo the connection we strive for. We feel we can’t invest, give, or borrow without exploitation or resource depletion somewhere down the line. What if an investment or gift could reconnect us with our values and build community? What if we could help reinvent our economy? What if, rather than making transactions, we created relationships based on mutual respect, trust, and love? It would take no less than a revolution in how we relate to our money–the power that money has to transform us for the better.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Social Enterprise Lending

RSF connects social enterprises with diverse forms of capital.

Philanthropic Services

RSF offers donors opportunities to align their money with their values through Donor Advised Funds.

Population(s) Served

Adults

Racial Justice Collaborative (RJC)

The Racial Justice Collaborative is grounded in RSF’s mission of empowering communities and individuals to leverage their financial and creative resources in confronting the root causes of the persistent and extreme racial wealth gap in the United States of America.

Using philanthropic capital raised from individuals, family offices, and foundations, we work directly with Black-, Brown-, and Indigenous-led organizations comprised of individuals with first-hand knowledge, lived experience, and innovative solutions to flow adequate, flexible, and patient capital that enables them to take risks, pilot new ideas, and grow.

Population(s) Served

Adults

Indigenous peoples

People of African descent

People of Asian descent

People of Latin American descent

Women's Capital Collaborative (WCC)

The Women’s Capital Collaborative is grounded in RSF’s mission of empowering communities and individuals to leverage their financial and creative resources in confronting the root causes of the persistent gender wealth gap in the United States of America.

Using philanthropic capital raised from individuals, family offices, and foundations, we work directly with Women-led organizations to flow adequate, flexible, and patient capital that enables them to take risks, pilot new ideas, and grow.

Population(s) Served

Women and girls

Where we work

External reviews

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of donor-advised funds

Totals By Year

Population(s) Served

Related Program

Philanthropic Services

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

What is the organization aiming to accomplish?

RSF Social Finance (RSF) creates unique conditions for transformation by connecting people and social enterprises to solve some of our most pressing issues. RSF is a non-profit financial services organization that offers opportunities for people to align their money with their values. We seek to create financial relationships that are direct, transparent, personal, and based on long-term relationships focused on long-term social, environmental, and economic benefits. We do this in three ways: offering investors and donors dynamic ways to align their money with their values, connecting social enterprises with diverse forms of capital, empowering leaders, and advancing innovations in the field of social finance.

What are the organization's key strategies for making this happen?

All the work that RSF Social Finance undertakes is done using our integrated capital approach. Integrated capital is the coordinated use of different forms of financial capital and non-financial resources to support an enterprise working to solve complex social and environmental problems. We have an array of integrated capital tools, including loans, guarantees, investments, grants, and non-financial assistance such as network connections and advisor support. We work with all the enterprises we support to assemble the appropriate tools to help them accomplish their mission and sustain their business.

What are the organization's capabilities for doing this?

RSF Social Finance has a 39-year track record of lending to groundbreaking social enterprises and working with philanthropists to transform their giving, all in service of building a regenerative and compassionate economy. We currently have over $200 million in assets under management and a team of 22 with expertise across our functional and content areas. We have deep area expertise in sustainable food and agriculture, arts and education, and climate and environment work, with secondary focuses on workforce development, gender-lens investing, and supporting black, brown, and indigenous communities.

What have they accomplished so far and what's next?

Since 1984, RSF has made over $1 billion in loans, grants, and investments to social enterprises, placing us in the top tier of social finance organizations worldwide. We currently serve over 1,900 clients who are creating enormous positive impact by helping us redirect the flow of money in local markets and heal an economy often damaged by exploitation and resource depletion. In 2024, we will continue to support groundbreaking social enterprises using our integrated capital approach and to support donors and investors in aligning their money with their values by expanding the reach of our Social Investment Fund, Donor Advised Fund, and Collaborative Fund offerings.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

We shared information about our current feedback practices.

How is your organization using feedback from the people you serve?

To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals
Which of the following feedback practices does your organization routinely carry out?

We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We tell the people who gave us feedback how we acted on their feedback
What challenges does the organization face when collecting feedback?

We don't have any major challenges to collecting feedback

Financials

RSF Social Finance

Fiscal year: Jan 01 - Dec 31

Financial documents

Yes, financials were audited by an independent accountant.

Revenue vs. expenses: breakdown

SOURCE: IRS Form 990

NET GAIN/LOSS: in

Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2021

SOURCE: IRS Form 990

1.61

Average of 0.77 over 10 years

Months of cash in 2021

SOURCE: IRS Form 990

1.7

Average of 12.6 over 10 years

Fringe rate in 2021

SOURCE: IRS Form 990

12%

Average of 18% over 10 years

Funding sources

Source: IRS Form 990

Assets & liabilities

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Digitizing IRS form 990 data

RSF Social Finance

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: Download Data

Revenue
Contributions	$13,148,707
Government Grants	$0
Program Services	$1,692,861
Investments	($301,139)
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$14,540,429

Expenses
Program Services	$10,680,397
Administration	$1,102,412
Fundraising	$0
Total Expenses	$11,782,809
Net Gain/Loss	$2,757,620

Functional expenses
Accounting Fees	$69,990
Advertising & Promotion	$159,943
Information Technology Expenses	$0
Insurance Expenses	$10,334
Interest Expenses	$468,926
Investment Management Fees	$678,137
Legal Fees	$79,708
Pension Plan Contributions	$58,079
Professional Fundraising Expenses	$0

Revenue
Contributions	$7,396,468
Government Grants	$0
Program Services	$1,200,180
Investments	($1,795,066)
Special Events	$0
Sales	$0
Other	$0
Total Revenue	$6,801,582

Expenses
Program Services	$6,887,841
Administration	$738,271
Fundraising	$121,456
Total Expenses	$7,747,568
Net Gain/Loss	($945,986)

Functional expenses
Accounting Fees	$107,742
Advertising & Promotion	$52,624
Information Technology Expenses	$0
Insurance Expenses	$6,827
Interest Expenses	$148,124
Investment Management Fees	$842,426
Legal Fees	$50,955
Pension Plan Contributions	$50,842
Professional Fundraising Expenses	$0

Revenue
Contributions	$9,914,328
Government Grants	$0
Program Services	$988,559
Investments	$1,800,311
Special Events	$0
Sales	$0
Other	$110,509
Total Revenue	$12,813,707

Expenses
Program Services	$9,258,456
Administration	$880,796
Fundraising	$165,607
Total Expenses	$10,304,859
Net Gain/Loss	$2,508,848

Functional expenses
Accounting Fees	$90,859
Advertising & Promotion	$79,978
Information Technology Expenses	$0
Insurance Expenses	$5,089
Interest Expenses	$115,141
Investment Management Fees	$878,206
Legal Fees	$58,812
Pension Plan Contributions	$52,536
Professional Fundraising Expenses	$0

Revenue
Contributions	$10,355,278
Government Grants	$0
Program Services	$621,031
Investments	$533,717
Special Events	$0
Sales	$0
Other	$536,540
Total Revenue	$12,046,566

Expenses
Program Services	$7,500,204
Administration	$828,706
Fundraising	$152,660
Total Expenses	$8,481,570
Net Gain/Loss	$3,564,996

Functional expenses
Accounting Fees	$95,460
Advertising & Promotion	$34,899
Information Technology Expenses	$0
Insurance Expenses	$5,030
Interest Expenses	$299,290
Investment Management Fees	$809,151
Legal Fees	$38,403
Pension Plan Contributions	$52,929
Professional Fundraising Expenses	$0

Revenue
Contributions	$11,966,326
Government Grants	$0
Program Services	$601,595
Investments	$840,408
Special Events	$0
Sales	$0
Other	$382,507
Total Revenue	$13,790,836

Expenses
Program Services	$9,059,855
Administration	$355,306
Fundraising	$57,539
Total Expenses	$9,472,700
Net Gain/Loss	$4,318,136

Functional expenses
Accounting Fees	$85,952
Advertising & Promotion	$7,173
Information Technology Expenses	$0
Insurance Expenses	$1,323
Interest Expenses	$222,162
Investment Management Fees	$792,951
Legal Fees	$29,445
Pension Plan Contributions	$23,358
Professional Fundraising Expenses	$0

Revenue
Contributions	$10,204,054
Government Grants	$0
Program Services	$615,560
Investments	$1,387,493
Special Events	$0
Sales	$0
Other	$79,137
Total Revenue	$12,286,244

Expenses
Program Services	$11,653,606
Administration	$431,224
Fundraising	$75,736
Total Expenses	$12,160,566
Net Gain/Loss	$125,678

Functional expenses
Accounting Fees	$93,723
Advertising & Promotion	$6,763
Information Technology Expenses	$0
Insurance Expenses	$1,748
Interest Expenses	$133,828
Investment Management Fees	$812,024
Legal Fees	$21,702
Pension Plan Contributions	$30,318
Professional Fundraising Expenses	$0

Revenue
Contributions	$15,849,038
Government Grants	$0
Program Services	$812,828
Investments	$6,077
Special Events	$0
Sales	$0
Other	$20,421
Total Revenue	$16,688,364

Expenses
Program Services	$11,074,403
Administration	$317,591
Fundraising	$67,240
Total Expenses	$11,459,234
Net Gain/Loss	$5,229,130

Functional expenses
Accounting Fees	$50,191
Advertising & Promotion	$5,116
Information Technology Expenses	$908
Insurance Expenses	$5,861
Interest Expenses	$47,530
Investment Management Fees	$669,315
Legal Fees	$1,610
Pension Plan Contributions	$9,449
Professional Fundraising Expenses	$0

Revenue
Contributions	$20,992,023
Government Grants	$0
Program Services	$134,813
Investments	$122,493
Special Events	$0
Sales	$0
Other	$14,901
Total Revenue	$21,264,230

Expenses
Program Services	$11,676,345
Administration	$630,206
Fundraising	$133,429
Total Expenses	$12,439,980
Net Gain/Loss	$8,824,250

Functional expenses
Accounting Fees	$72,663
Advertising & Promotion	$12,080
Information Technology Expenses	$0
Insurance Expenses	$7,658
Interest Expenses	$51,453
Investment Management Fees	$119,618
Legal Fees	$2,164
Pension Plan Contributions	$14,729
Professional Fundraising Expenses	$0

Revenue
Contributions	$22,326,264
Government Grants	$0
Program Services	$339,413
Investments	$125,892
Special Events	$0
Sales	$0
Other	$683,973
Total Revenue	$23,475,542

Expenses
Program Services	$13,824,571
Administration	$2,015,764
Fundraising	$546,348
Total Expenses	$16,386,683
Net Gain/Loss	$7,088,859

Functional expenses
Accounting Fees	$25,001
Advertising & Promotion	$11,713
Information Technology Expenses	$161,383
Insurance Expenses	$18,400
Interest Expenses	$42,179
Investment Management Fees	$1,096,372
Legal Fees	$45,985
Pension Plan Contributions	$16,977
Professional Fundraising Expenses	$0

Revenue
Contributions	$35,102,858
Government Grants	$0
Program Services	$567,363
Investments	$223,908
Special Events	$0
Sales	$0
Other	$6,817
Total Revenue	$35,900,946

Expenses
Program Services	$20,293,106
Administration	$4,024,976
Fundraising	$312,022
Total Expenses	$24,630,104
Net Gain/Loss	$11,270,842

Functional expenses
Accounting Fees	$370,528
Advertising & Promotion	$35,349
Information Technology Expenses	$87,518
Insurance Expenses	$10,939
Interest Expenses	$97,332
Investment Management Fees	$2,091,608
Legal Fees	$41,523
Pension Plan Contributions	$11,188
Professional Fundraising Expenses	$0

Revenue
Contributions	$94,575,857
Government Grants	$0
Program Services	$774,951
Investments	$791,539
Special Events	$0
Sales	$0
Other	$200
Total Revenue	$96,142,547

Expenses
Program Services	$24,677,726
Administration	$4,213,222
Fundraising	$479,417
Total Expenses	$29,370,365
Net Gain/Loss	$66,772,182

Functional expenses
Accounting Fees	$312,951
Advertising & Promotion	$48,219
Information Technology Expenses	$114,700
Insurance Expenses	$48,971
Interest Expenses	$70,200
Investment Management Fees	$1,828,100
Legal Fees	$49,811
Pension Plan Contributions	$44,611
Professional Fundraising Expenses	$0

Revenue
Contributions	$34,492,185
Government Grants	$0
Program Services	$1,382,881
Investments	$944,468
Special Events	$0
Sales	$0
Other	$2,039
Total Revenue	$36,821,573

Expenses
Program Services	$29,831,983
Administration	$4,565,286
Fundraising	$577,262
Total Expenses	$34,974,531
Net Gain/Loss	$1,847,042

Functional expenses
Accounting Fees	$119,778
Advertising & Promotion	$95,680
Information Technology Expenses	$179,353
Insurance Expenses	$336,534
Interest Expenses	$0
Investment Management Fees	$1,974,052
Legal Fees	$143,456
Pension Plan Contributions	$122,023
Professional Fundraising Expenses	$0

Revenue
Contributions	$57,762,712
Government Grants	$0
Program Services	$1,977,465
Investments	$533,905
Special Events	$0
Sales	$0
Other	($58)
Total Revenue	$60,274,024

Expenses
Program Services	$45,967,141
Administration	$1,373,653
Fundraising	$0
Total Expenses	$47,340,794
Net Gain/Loss	$12,933,230

Functional expenses
Accounting Fees	$99,936
Advertising & Promotion	$103,731
Information Technology Expenses	$103,310
Insurance Expenses	$31,833
Interest Expenses	$206,381
Investment Management Fees	$0
Legal Fees	$53,834
Pension Plan Contributions	$30,477
Professional Fundraising Expenses	$0

Revenue
Contributions	$45,808,246
Government Grants	$0
Program Services	$2,308,138
Investments	$442,821
Special Events	$0
Sales	$0
Other	($5)
Total Revenue	$48,559,200

Expenses
Program Services	$48,772,994
Administration	$841,752
Fundraising	$0
Total Expenses	$49,614,746
Net Gain/Loss	($1,055,546)

Functional expenses
Accounting Fees	$32,278
Advertising & Promotion	$100,246
Information Technology Expenses	$129,016
Insurance Expenses	$35,374
Interest Expenses	$274,100
Investment Management Fees	$0
Legal Fees	$25,797
Pension Plan Contributions	$10,968
Professional Fundraising Expenses	$0

RSF Social Finance

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: Download Data

Assets	Jan 01, 2008	Dec 31, 2008	Change
Contributions	$13,148,707
Cash & Equivalents	$14,126,717	$16,441,629	$2,314,912
Accounts Receivable	$63,935	$653	($63,282)
Pledges & Grants Receivable	$0	$21,878	$21,878
Receivable, Other	$54,096,255	$75,883,442	$21,787,187
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$52,626,942	$39,976,203	($12,650,739)
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$134,994	$96,117	($38,877)
Other	$87,950	$213,754	$125,804
Total Assets	$121,136,793	$132,633,676	$11,496,883

Liabilities	Jan 01, 2008	Dec 31, 2008	Change
Accounts Payable	$772,224	$1,032,705	$260,481
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$64,657,756	$70,173,703	$5,515,947
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$14,764,000	$14,764,000
Total Liabilities	$65,429,980	$85,970,408	$20,540,428

Fund balance	Jan 01, 2008	Dec 31, 2008	Change
Temporarily Restricted Net Assets	$22,469,455	$15,983,240	-$6,486,215
Permanently Restricted Net Assets	$100,000	$100,000	$0
Total Restricted Net Assets	$22,569,455	$16,083,240	($6,486,215)
Unrestricted Net Assets	$33,137,358	$30,580,028	($2,557,330)
Net Assets	$55,706,813	$46,663,268	($9,043,545)

Assets	Jan 01, 2009	Dec 31, 2009	Change
Contributions	$7,396,468
Cash & Equivalents	$16,441,629	$3,049,251	($13,392,378)
Accounts Receivable	$653	$4,112	$3,459
Pledges & Grants Receivable	$21,878	$788	($21,090)
Receivable, Other	$75,883,442	$69,149,127	($6,734,315)
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$39,976,203	$50,383,299	$10,407,096
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$96,117	$69,837	($26,280)
Other	$213,754	$276,905	$63,151
Total Assets	$132,633,676	$122,933,319	($9,700,357)

Liabilities	Jan 01, 2009	Dec 31, 2009	Change
Accounts Payable	$1,032,705	$842,490	($190,215)
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$70,173,703	$65,795,576	($4,378,127)
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$14,764,000	$8,764,000	($6,000,000)
Total Liabilities	$85,970,408	$75,402,066	($10,568,342)

Fund balance	Jan 01, 2009	Dec 31, 2009	Change
Temporarily Restricted Net Assets	$15,983,240	$17,625,284	$1,642,044
Permanently Restricted Net Assets	$100,000	$100,000	$0
Total Restricted Net Assets	$16,083,240	$17,725,284	$1,642,044
Unrestricted Net Assets	$30,580,028	$29,805,969	($774,059)
Net Assets	$46,663,268	$47,531,253	$867,985

Assets	Jan 01, 2010	Dec 31, 2010	Change
Contributions	$9,914,328
Cash & Equivalents	$3,049,251	$5,004,559	$1,955,308
Accounts Receivable	$4,112	$23,050	$18,938
Pledges & Grants Receivable	$788	$16,388	$15,600
Receivable, Other	$69,149,127	$68,901,680	($247,447)
Inventories for Sale or Use	$0	$0	$0
Investment, Securities	$50,383,299	$43,299,020	($7,084,279)
Investment, Other	$0	$0	$0
Fixed Assets (LBE - Depreciation)	$69,837	$41,753	($28,084)
Other	$276,905	$303,610	$26,705
Total Assets	$122,933,319	$117,590,060	($5,343,259)

Liabilities	Jan 01, 2010	Dec 31, 2010	Change
Accounts Payable	$842,490	$298,698	($543,792)
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$65,795,576	$65,145,199	($650,377)
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$8,764,000	$0	($8,764,000)
Total Liabilities	$75,402,066	$65,443,897	($9,958,169)

RSF Social Finance

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of RSF Social Finance’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

Fiscal year: Jan 01 - Dec 31 View full report Download data

Business model indicators

Profitability	2017	2018	2019	2020	2021
Unrestricted surplus (deficit) before depreciation	$12,131,737	$67,518,798	-$57,972,254	$12,780,150	-$411,106
As % of expenses	49.3%	230.2%	-166.2%	27.0%	-0.8%
Unrestricted surplus (deficit) after depreciation	$12,089,812	$67,479,826	-$58,058,256	$12,703,292	-$449,045
As % of expenses	49.1%	229.8%	-166.0%	26.8%	-0.9%

Revenue composition
Total revenue (unrestricted & restricted)	$35,900,946	$96,142,547	$36,821,573	$60,274,024	$48,559,200
Total revenue, % change over prior year	52.9%	167.8%	-61.7%	63.7%	-19.4%
Program services revenue	1.6%	0.8%	3.8%	3.3%	4.8%
Membership dues	0.0%	0.0%	0.0%	0.0%	0.0%
Investment income	0.6%	0.8%	2.6%	0.9%	0.6%
Government grants	0.0%	0.0%	0.0%	0.0%	0.0%
All other grants and contributions	97.8%	98.4%	93.7%	95.8%	94.3%
Other revenue	0.0%	0.0%	0.0%	0.0%	0.3%

Expense composition
Total expenses before depreciation	$24,588,179	$29,331,393	$34,888,529	$47,263,936	$49,576,807
Total expenses, % change over prior year	50.2%	19.3%	18.9%	35.5%	4.9%
Personnel	9.5%	11.6%	11.3%	7.4%	3.8%
Professional fees	10.7%	9.4%	7.4%	1.4%	1.4%
Occupancy	1.6%	1.3%	1.1%	0.7%	0.3%
Interest	0.4%	0.2%	0.0%	0.4%	0.6%
Pass-through	74.2%	73.5%	77.5%	89.2%	93.8%
All other expenses	3.6%	3.9%	2.7%	0.8%	0.2%

Full cost components (estimated)	2017	2018	2019	2020	2021
Total expenses (after depreciation)	$24,630,104	$29,370,365	$34,974,531	$47,340,794	$49,614,746
One month of savings	$2,049,015	$2,444,283	$2,907,377	$3,938,661	$4,131,401
Debt principal payment	$0	$0	$2,654,864	$2,128,321	$1,385,225
Fixed asset additions	$56,850	$127,632	$0	$0	$0
Total full costs (estimated)	$26,735,969	$31,942,280	$40,536,772	$53,407,776	$55,131,372

Capital structure indicators

Liquidity	2017	2018	2019	2020	2021
Months of cash	11.2	11.0	2.3	1.2	1.7
Months of cash and investments	51.9	68.9	34.5	28.0	26.4
Months of estimated liquid unrestricted net assets	35.4	57.3	28.3	24.1	22.9

Balance sheet composition	2017	2018	2019	2020	2021
Cash	$22,933,190	$26,985,448	$6,722,294	$4,844,103	$6,922,430
Investments	$83,481,800	$141,535,415	$93,628,436	$105,600,672	$102,045,107
Receivables	$1,015,120	$325,124	$2,500	$0	$0
Gross land, buildings, equipment (LBE)	$1,155,357	$1,358,555	$1,399,048	$1,410,371	$1,431,510
Accumulated depreciation (as a % of LBE)	73.3%	70.8%	88.5%	93.7%	96.3%
Liabilities (as a % of assets)	46.7%	32.2%	43.8%	35.1%	34.7%
Unrestricted net assets	$72,929,337	$140,409,163	$82,350,907	$95,054,199	$94,605,154
Temporarily restricted net assets	$300,000	$50,000	N/A	N/A	N/A
Permanently restricted net assets	$100,000	$100,000	N/A	N/A	N/A
Total restricted net assets	$400,000	$150,000	$150,000	$582,105	$308,653
Total net assets	$73,329,337	$140,559,163	$82,500,907	$95,636,304	$94,913,807

Key data checks

Key data checks	2017	2018	2019	2020	2021
Material data errors	No	No	No	No	No

Operations

The people, governance practices, and partners that make the organization tick.

Documents

Letter of Determination

Form 1023/1024 is not available for this organization

Chief Executive Officer

Jasper J. van Brakel

LinkedIn profile

As CEO of RSF Social Finance, Jasper van Brakel sees firsthand the energy that mission-aligned, catalytic capital sparks. He guides RSF in revolutionizing how people relate to and work with money, leading a talented team that develops innovative giving, investing, and lending programs to address the significant social, environmental, and economic challenges of our time. Before joining RSF, van Brakel was a partner at Newpark Capital, a private equity firm for impact-driven companies. He served as an operating partner with Armonia, an impact investor and regenerative field builder, where he initiated collaborative partnerships and provided strategic leadership support to several portfolio companies, both as an adviser and as a board member. A graduate of Harvard Business School’s general management program, van Brakel also holds a master’s degree in economics from Erasmus University Rotterdam. Jasper lives in San Rafael, California, with his wife Marieke and their four children.

Number of employees

Source: IRS Form 990

RSF Social Finance

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation

Other

Show data for fiscal year

Compensation data

Download up to 5 most recent years of officer and director compensation data for this organization

RSF Social Finance

Highest paid employees

SOURCE: IRS Form 990

Compensation

Other

Show data for fiscal year

Compensation data

Download up to 5 most recent years of highest paid employee data for this organization

RSF Social Finance

Board of directors
as of 10/31/2023

SOURCE: Self-reported by organization

Board of directors data

Download the most recent year of board of directors data for this organization

Board co-chair

Lee Merkle-Raymond

Hercules Capital

Term: 2023 -

Board co-chair

Elissa Sangalli

Northern Initiatives

Term: 2023 -

Stephanie Rynas

Association of Waldorf Schools of North America

Amir Kirkwood

Virginia Community Capital

Dr. David McClean

Rutgers University

Ingrid Ryan

Forge Global

Taylor Jordan

Goldman Sachs

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Not applicable
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 8/17/2023

Candid has made improvements to the race and ethnicity options.

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity

White/Caucasian/European

Gender identity

Male, Not transgender (cisgender)

Sexual orientation

Heterosexual or straight

Disability status

Person without a disability

Race & ethnicity

Gender identity

Sexual orientation

No data

Disability

Equity strategies

Last updated: 08/07/2023

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data

We review compensation data across the organization (and by staff levels) to identify disparities by race.
We ask team members to identify racial disparities in their programs and / or portfolios.
We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.

Policies and processes

We use a vetting process to identify vendors and partners that share our commitment to race equity.
We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
We have community representation at the board level, either on the board itself or through a community advisory board.
We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team.
We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.

Contractors

Fiscal year ending

There are no fundraisers recorded for this organization.

Related organizations & associated domestic grants

Show data for fiscal year

Related organization	Primary activity	Subsection	PC status	Controlling entity?	512(b)(13) controlled entity?	Cash grants paid	Non-cash assistance
GINUNGAGAP FOUNDATION 235 MONTGOMERY STREET 17TH FLOOR SAN FRANCISCO, CA 94104 20-1402909	SUPPORT AND OPERATE PROGRAMS OF RSF	501(C)(3)	LINE 12A, I	RSF SOCIAL FINANCE INC	Y	$0.00	$0.00
RSF SOCIAL INVESTMENT FUND PO BOX 2007 SAN FRANCISCO, CA 94126 36-4385559	MISSION-RELATED LOANS ON BEHALF OF RSF	501(C)(3)	LINE 12A, I	RSF SOCIAL FINANCE INC	Y	$0.00	$0.00
YGGDRASIL LAND FOUNDATION INC PO BOX 2007 SAN FRANCISCO, CA 94126 94-3372213	PROTECT FARMLAND, CREATE LAND ACCESS	501(C)(3)	LINE 12A, I		N	$0.00	$0.00
RSF GLOBAL COMMUNITY FUND PO BOX 2007 SAN FRANCISCO, CA 94126 94-3396165	GRANTMAKING ON BEHALF OF RSF	501(C)(3)	LINE 12A, I	RSF SOCIAL FINANCE INC	Y	$0.00	$0.00

Related organization	Primary activity	Subsection	PC status	Controlling entity?	512(b)(13) controlled entity?	Cash grants paid	Non-cash assistance
RSF SOCIAL INVESTMENT FUND 1002A OREILLY AVENUE SAN FRANCISCO, CA 94129 36-4385559	MISSION-RELATED LOANS ON BEHALF OF RSF	501(C)(3)	LINE 12A, I	RUDOLF STEINER FOUNDATION	Y	$0.00	$0.00
RSF GLOBAL COMMUNITY FUND 1002A OREILLY AVENUE SAN FRANCISCO, CA 94129 94-3396165	GRANTMAKING ON BEHALF OF RSF	501(C)(3)	LINE 12A, I	RUDOLF STEINER FOUNDATION	Y	$0.00	$0.00
YGGDRASIL LAND FOUNDATION INC 1002A OREILLY AVENUE SAN FRANCISCO, CA 94129 94-3372213	PROTECT FARMLAND, CREATE LAND ACCESS	501(C)(3)	LINE 12A, I		N	$0.00	$0.00
GINUNGAGAP FOUNDATION 235 MONTGOMERY STREET 17TH FLOOR SAN FRANCISCO, CA 94104 20-1402909	SUPPORT AND OPERATE PROGRAMS OF RSF	501(C)(3)	LINE 12A, I	RUDOLF STEINER FOUNDATION	Y	$0.00	$0.00

Related organization	Primary activity	Subsection	PC status	Controlling entity?	512(b)(13) controlled entity?	Cash grants paid	Non-cash assistance
RSF SOCIAL INVESTMENT FUND 1002A OREILLY AVENUE SAN FRANCISCO, CA 94129 36-4385559	LENDING AND INVESTING	501(c)(3)	Type I	RUDOLF STEINER FOUNDATION	N	$0.00	$0.00
RSF GLOBAL COMMUNITY FUND 1002A OREILLY AVENUE SAN FRANCISCO, CA 94129 94-3396165	SUPPORTING ORGANIZATION FOR RSF	501(c)(3)	Type I	RUDOLF STEINER FOUNDATION	N	$0.00	$0.00
YGGDRASIL LAND FOUNDATION INC 1002 OREILLY AVENUE SAN FRANCISCO, CA 94129 94-3372213	SUPPORTING ORGANIZATION FOR RSF	501(c)(3)	Type I	RUDOLF STEINER FOUNDATION	N	$0.00	$0.00
GINUNGAGAP FOUNDATION 235 MONTGOMERY ST 17TH FLOOR SAN FRANCISCO, CA 94104 20-1402909	SUPPORTING ORGANIZATION FOR RSF	501(c)(3)	Type I	RUDOLF STEINER FOUNDATION	N	$0.00	$0.00

Related organization	Primary activity	Subsection	PC status	Controlling entity?	512(b)(13) controlled entity?	Cash grants paid	Non-cash assistance	Reason
RSF SOCIAL INVESTMENT FUND 1002A OREILLY AVENUE SAN FRANCISCO, CA 94129 36-4385559	LENDING AND INVESTING	501(c)(3	Type I	RUDOLF STEINER FOUNDATION	N	$0.00	$0.00
RSF GLOBAL COMMUNITY FUND 1002A OREILLY AVENUE SAN FRANCISCO, CA 94129 94-3396165	SUPPORTINNG ORGANIZATION FOR RSF	501(c)(3	Type I	RUDOLF STEINER FOUNDATION	N	$0.00	$0.00

Related organization	Primary activity	Subsection	PC status	Controlling entity?	512(b)(13) controlled entity?	Cash grants paid	Non-cash assistance	Reason
RSF SOCIAL INVESTMENT FUND 1002A OREILLY AVENUE SAN FRANCISCO, CA 94129 36-4385559	LENDING AND INVESTING	501 C(3)	LINE 11	RUDOLF STEINER FOUNDATION	N	$1,000,000.00	$0.00	FOR GENERAL SUPPORT
RSF GLOBAL COMMUNITY FUND 1002A OREILLY AVENUE SAN FRANCISCO, CA 94129 94-3396165	SUPPORTING ORGANIZATION FOR RSF	501 C(3)	LINE 11	RUDOLF STEINER FOUNDATION	N	$0.00	$0.00

Related organization	Primary activity	Subsection	PC status	Controlling entity?	512(b)(13) controlled entity?	Cash grants paid	Non-cash assistance	Reason
RSF SOCIAL INVESTMENT FUND 1002A OREILLY AVENUE SAN FRANCISCO, CA 94129 36-4385559	LENDING AND INVESTING	501C(3)	LINE 11	RUDOLF STEINER FOUNDATION	N	$0.00	$0.00
RSF SOCIAL INVESTMENT FUND 1002A OREILLY AVENUE SAN FRANCISCO, CA 94129 94-3396165	SUPPORTING ORGANIZATION FOR RSF	501C(3)	LINE 11	RUDOLF STEINER FOUNDATION	N	$0.00	$0.00

RSF Social Finance

Mission

Is this your nonprofit?

Programs and results

What we aim to solve

Our programs

Social Enterprise Lending

Philanthropic Services

Racial Justice Collaborative (RJC)

Women's Capital Collaborative (WCC)

Where we work

Our results

Evaluation documents

Number of donor-advised funds

Totals By Year

Population(s) Served

Related Program

Type of Metric

Direction of Success

Context Notes

Goals & Strategy

Charting impact

What is the organization aiming to accomplish?

What are the organization's key strategies for making this happen?

What are the organization's capabilities for doing this?

What have they accomplished so far and what's next?

How we listen

Financials

Financial documents

Revenue vs. expenses: breakdown

Liquidity in 2021 info

1.61

Months of cash in 2021 info

1.7

Fringe rate in 2021 info

12%

Funding sources info

Assets & liabilities info

Financial data

Digitizing IRS form 990 data

RSF Social Finance

RSF Social Finance

RSF Social Finance

Business model indicators

Capital structure indicators

Key data checks

Operations

Documents

Chief Executive Officer

Jasper J. van Brakel

Number of employees

RSF Social Finance

Compensation data

RSF Social Finance

Compensation data

RSF Social Finance

Board of directors data

Lee Merkle-Raymond

Elissa Sangalli

Board leadership practices

Board orientation and education

CEO oversight

Ethics and transparency

Board composition

Board performance

Organizational demographics

Leadership

Race & ethnicity

Gender identity

Sexual orientation

Disability

Equity strategies

Contractors

Related organizations & associated domestic grants

Liquidity in 2021

Months of cash in 2021

Fringe rate in 2021

Funding sources

Assets & liabilities