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Social Finance Inc

EIN 27-4620963 · Boston, MA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong100 out of 100GovernanceGood83 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

SOCIAL FINANCE BUILDS INNOVATIVE PARTNERSHIPS AND INVESTMENTS THAT REALIGN SYSTEMS TO MEASURABLY IMPROVE LIVES.

Income
$79.1 million
Spending
$36.4 million
Spent on programs
81%
Reserves
31.7 months of spending
Largest source of income
donations and private grants, 70%
Employees
137
Volunteers
14
Highest pay
$826,471, ceo & co-founder

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 100 out of 100. Higher than 95% of charities in its peer group (human services, $10m to $100m).

  • Reserves

    35 of 35

    Spendable reserves would cover 31.7 months of spending.

  • Debt

    20 of 20

    It owes 11% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 54% of income.

  • Income trend

    15 of 15

    Income rose 102% on the year before.

  • Spending floor

    15 of 15

    81% of spending went to programs and raising each dollar of donations cost 1 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 83 out of 100. Higher than 11% of charities in its peer group (human services, $10m to $100m).

  • Independent board

    25 of 25

    14 of 15 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (5)
  1. $18.6 million spent. Impact-First Investments Through its impact-first investing portfolio, SFI develops impact-first investments and innovative financing solutions that generate positive outcomes for people and communities. In May 2023, SF Advisors, LLC, a wholly-owned subsidiary of SFI, became a registered investment advisor and manages impact-first private funds designed to generate positive outcomes for people and communities. In addition, SF Advisors partners with individuals, family offices, and foundations to amplify their impact by directing more capital towards positive social and environmental outcomes. SF Advisors also provides impact-investment advisory services to community foundations, donor advised funds, family offices and similar investors on building impact investing portfolios. Under the Impact-First Investments Portfolio, SFI launched the impact-first fund, an open-end fund of fund developed to address the barriers that impact investors, including philanthropic capital investors like donor-advised funds, community and private foundations and any other PRI-makers face when pursuing innovative funds and investment strategies that support meaningful and measurable change for people and the planet. The Impact First Fund primarily invests in private market funds or pooled debt vehicles with the goal to catalyze positive, measurable environmental and social impact at scale as well as to make impact-first investing easier, more accessible, and more cost efficient.
  2. $8.4 million spent. SFI partners with elected officials, policymakers, civic leaders, community members, and service providers to develop government funding tools that link funding to outcomes to maximize the impact of taxpayer dollars. SFI analyzes data to support better decision making and helps actively manage programs for outcomes. SFI establishes collaborative governance strategies to drive improvement and innovation. SFI also strengthens the capacity of government departments to enable more effective and equitable delivery of public service, and it supports partners in designing and executing innovative programs, practices, and partnerships, grounded in Pay for Success ("PFS") principles.
  3. $2.5 million spent. The Social Finance Institute is a unique field-building platform that was launched in 2023 within Social Finance. The Social Finance Institute leverages insights from practitioners and experts to develop networks, tools, and actionable resources to advance outcomes-based, impact-first funding models to measurably improve people's lives.
  4. OTHER PROGRAM SERVICES
  5. Workforce and Education Investments Through its workforce and education investments portfolio, SFI partners with governments, philanthropy and impact investors seeking to deploy funds to address barriers in access to training and upskilling for low-income populations and improve economic mobility. SFI workforce and education impact investments are structured either through equity, debt or other loan financing structures. SFI establishes separate affiliates or subsidiaries for each impact investment financing to hold the various contracts with its impact investors, governments (if applicable), the applicable service or training providers, as well as evaluators and loan or income share agreement originators and servicers. Workforce and education impact investment strategies employed to date

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since February 2012.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.