Massachusetts · Nonprofit
Social Finance Inc
Social Finance Inc (Massachusetts) receives grants from 77 organizations whose IRS filings report $162,839,612 to it, the largest being NATIONAL PHILANTHROPIC TRUST ($40,100,000). 42 of them have funded it in more than one year.
- Revenue FY2024
- $79M
- Funders on record
- 77
- Grants received
- $163M
- Net assets
- $173M
What Social Finance Inc does
Mission
Social finance builds innovative partnerships and investments that realign systems to measurably improve lives.
As stated on its FY2024 Form 990.
Programs
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…
$18,631,542 spentof which $1,383,864 as grants$701,115 earned by the program63% of program spendingSFI 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.
$8,411,556 spentof which $225,804 as grants$7,027,899 earned by the program28% of program spendingThe 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.
$2,523,039 spentof which $175,000 as grants9% of program spendingOther program services
$0 spent$1,319,967 earned by the program0% of program spending
The 4 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $29,566,137.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2020 to 2021, from $31M to $96M (+210%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2017 8% · 2018 10% · 2019 5% · 2020 12% · 2021 1% · 2023 1% · 2024 12%. Grants only. Government contracts and fees sit inside program revenue.
82% of Social Finance Inc’s revenue is contributions — more donation-reliant than the typical peer (21% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 0 of the last 8 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Tracy Palandjian
CEO & Co-Founder
Board chair
Pamela Dippel Choney
Chair
As listed on its FY2024 Form 990.
The chief executive listed changed between the FY2019 and FY2020, and between the FY2020 and FY2021 filings.
Who funds it, year by year
2017 → 2023: the base broadened from 17 funders to 24 funders, grant income rose $4.5M → $18M.
23 of 77 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 45% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of Social Finance Inc’s funders (the co-funder graph). Top 30 of 77 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
Social Finance Inc has a broad base — no single funder exceeds 25% of grant income, and it takes 3 funders to reach half.
the vertical line marks half of all grant income — 3 funders to its left
75% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund Social Finance Inc.
Largest funder’s share by year: 2017 22% · 2018 15% · 2019 18% · 2020 49% · 2021 44% · 2022 34% · 2023 25% — growing more concentrated.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
41% of Social Finance Inc's funders are still giving 3 years after their first grant; 55% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
Social Finance Inc draws 87% of its grant income from funders outside Massachusetts, across 20 states in all.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $73M arriving through sponsors registered in 12 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
Social Finance Inc runs a healthier operating margin than three-quarters of the 3,289 human services nonprofits its size.
this organization peer median middle 50% of peers· 3,289 human services nonprofits $10M–$100M, FY2024
Government funding Social Finance Inc receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $18.1M on record.
- CT$10.2M
- MA$7.9M
- DE$20k
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like Social Finance Inc
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Massachusetts
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
81% of spending goes to programs.
Governance
Public support
66%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 3 states
Part of a family of 18 related entities
- Social Finance Career Impact Bond Genera · disregarded
- Up Fund Gp LLC · disregarded
- Sf Advisors LLC · disregarded
- Up Fund Investments LLC · disregarded
- Social Finance Career Impact Bond · disregarded
Screen this organization
A dated, signed PDF of the compliance screen for Social Finance Inc: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds Social Finance Inc?
- Social Finance Inc (Massachusetts) receives grants from 77 organizations whose IRS filings report $162,839,612 to it, the largest being NATIONAL PHILANTHROPIC TRUST ($40,100,000). 42 of them have funded it in more than one year.
- How many funders does Social Finance Inc have?
- IRS filings report 77 organizations giving $162,839,612 in grants to Social Finance Inc, 42 of which have funded it in more than one year.
- Who is the largest funder of Social Finance Inc?
- NATIONAL PHILANTHROPIC TRUST is the largest funder on record, with $40,100,000 in grants. The full list of funders is on this page.
- How can an organization like Social Finance Inc find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Massachusetts. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2024 (financials across 2017–2024), and the filings of 77 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 22, 2026. What this page cannot tell you · view filing