Civic Intelligence

Social Capital Fund

990 • Fiscal year 2018 • EIN 47-4670143

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 03, 2019

22 A StreetProvidence, RI 02907

(866) 584-3651

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

99th percentile

3.41x

Higher debt load relative to assets than 99% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

99th percentile

11.35x

Higher debt load relative to revenue than 99% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

1st percentile

-452%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

76th percentile

$68,757

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 31.4% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

100th percentile

2729%

Faster asset growth than 100% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

31st percentile

-4.7%

Faster revenue growth than 31% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Up

$727,644

Up $701,919 (+2729%) from 2017

Net Assets

Down

-$1,756,901

Down $990,161 (-129%) from 2017

Liabilities

Up

$2,484,545

Up $1,692,080 (+214%) from 2017

Revenue

Down

$218,960

Down $10,717 (-4.7%) from 2017

Expenses

Up

$1,209,121

Up $787,231 (+187%) from 2017

Net Income

Down

-$990,161

Down $797,948 (-415%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0-$5.0M-$10MAssets 2016: $29,269Liabilities 2016: $603,796Net Assets 2016: -$574,5272016Assets 2017: $25,725Liabilities 2017: $792,465Net Assets 2017: -$766,7402017Assets 2018: $727,644Liabilities 2018: $2,484,545Net Assets 2018: -$1,756,9012018Assets 2019: $659,658Liabilities 2019: $3,732,499Net Assets 2019: -$3,072,8412019Assets 2020: $3,089,215Liabilities 2020: $6,134,076Net Assets 2020: -$3,044,8612020Assets 2021: $4,168,322Liabilities 2021: $7,620,531Net Assets 2021: -$3,452,2092021Assets 2022: $2,824,110Liabilities 2022: $8,680,141Net Assets 2022: -$5,856,0312022Assets 2023: $1,945,598Liabilities 2023: $8,767,447Net Assets 2023: -$6,821,8492023Assets 2024: $594,331Liabilities 2024: $9,442,955Net Assets 2024: -$8,848,6242024

Highlighted filing

2018

Assets$727,644
Liabilities$2,484,545
Net Assets-$1,756,901

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2016: $114,006Expenses 2016: $654,708Net Income 2016: -$540,7022016Revenue 2017: $229,677Expenses 2017: $421,890Net Income 2017: -$192,2132017Revenue 2018: $218,960Expenses 2018: $1,209,121Net Income 2018: -$990,1612018Revenue 2019: $349,189Expenses 2019: $1,665,129Net Income 2019: -$1,315,9402019Revenue 2020: $494,500Expenses 2020: $466,520Net Income 2020: $27,9802020Revenue 2021: $544,096Expenses 2021: $951,444Net Income 2021: -$407,3482021Revenue 2022: $577,819Expenses 2022: $2,981,641Net Income 2022: -$2,403,8222022Revenue 2023: $984,814Expenses 2023: $1,950,632Net Income 2023: -$965,8182023Revenue 2024: $788,908Expenses 2024: $2,815,683Net Income 2024: -$2,026,7752024

Highlighted filing

2018

Revenue$218,960
Expenses$1,209,121
Net Income-$990,161
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 3, 2019
Return Version
2018v3.1
Gross Receipts
$218,960
Mission and Program Overview

Mission

To support the activities of its parent organization, The Capital Good Fund.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$6,075$696,665▲ $690,590
Loans From Officers Directors$107,000$107,000→ $0
Cash and Non-Interest-Bearing Accounts$19,650$30,979▲ $11,329
Total Assets$25,725$727,644▲ $701,919
Liabilities
Unsecured Notes Loans Payable$655,829$1,648,820▲ $992,991
Accounts Payable and Accrued Expenses$25,256$724,345▲ $699,089
Other Liabilities$4,380$4,380→ $0
Total Liabilities$792,465$2,484,545▲ $1,692,080
Net Assets / Fund Balance
Unrestricted Net Assets$-766,740$-1,756,901▼ $990,161
Total Net Assets Fund Balance$-766,740$-1,756,901▼ $990,161
Total Liabilities and Net Assets / Fund Balance$25,725$727,644▲ $701,919
Compensation and Service Providers

Employees

NameTitleOtherTotal
Andrew PosnerPresident$68,757$68,757

Board Members and Trustees

NameTitle
Jenn SteinfeldVice-President
Ana SilvaSecretary
Jason JagaticTeasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$218,960
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-990,161

Audited Revenue Reconciliation

Revenue per Audited Statements
$218,960
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$218,960
Total Revenue per Form 990
$218,960
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$993,000
Other Expenses$216,121
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$993,000--$993,000
Interest$35,493--$35,493
Other Expenses$180,248$380-$380
Total Functional Expenses$1,208,741$380$0$1,209,121

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,209,121
Total Expenses per Audited Statements$1,209,121
Total Expenses per Form 990$1,209,121
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Capital Good FundProvidence, RI501 c (3)To support its parent organization's mission of providing equitable financial services.$993,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$107,000$107,000→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Capital Good Fund$4,380
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

The Board reviews and approves the 990 prior to filing.

Form 990, Part VI, Section B, line 12C

All members of the board are required to sign an annual conflict conflict of interest statement.

Form 990, Part VI, Section C, line 19

The Organization's governing documents, conflict of interest policy, financial statements and form 990 are available to the public through request of the CEO.

Filing and Contact Details

Filer

Filer Name
Social Capital Fund
EIN
47-4670143
Phone
8665843651
Address
22 A Street, Providence, RI 02907

Signing Officer

Name
Andrew Posner
Title
President
Phone
8665843651
Signed
2019-10-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Posner
Formed
2016
Legal Domicile
Ri
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Aaronson Lavoie Streitfeld Diaz & Co PC
Address
1604 Broad Street, Cranston, RI 02905
Preparer
Richard Streitfeld
Phone
4012230205
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

The organization is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code and applicable state law and classified as a Type I supporting organization under Section 509(a)(3) of the Internal Revenue Code. The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of SCF and various positions related to the potential sources of unrelated business income tax (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty (50) percent likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities for the years ending December 31, 2018 and 2017.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Further CGF's mission
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1Further CGF's mission
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2Further CGF's mission
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt3Further CGF's mission
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt4Further CGF's mission
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt5Further CGF's mission
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd3X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd4X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd5X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt01000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt12500
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt21500
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt31000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt41000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt5100000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Randall Rice
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1Jason Jagatic
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2Jennifer Steinfeld
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm3Petra Jenkins
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm4Dr Ana Silva
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm5Lee Hower
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Board Vice President
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1Board Treasurer
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2Board Vice President
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt3Board-parent Organization
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt4Board Secretary
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt5Board-parent Organization
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd11
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd21
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd31
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd41
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd51
IRS990ScheduleL/TotalBalanceDueAmt0107000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Board reviews and approves the 990 prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All members of the board are required to sign an annual conflict conflict of interest statement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization's governing documents, conflict of interest policy, financial statements and form 990 are available to the public through request of the CEO.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Capital Good Fund
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0800348382
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0RI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0To provide equitable financial services
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt022 A Street
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Providence
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0RI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd002907
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd01
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0993000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1180248
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt2218960
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Fair Value
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Fair Value
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2Fair Value
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Capital Good Fund
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Capital Good Fund
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2Capital Good Fund
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1P
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2Q
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt025725
IRS990/TotalAssetsEOYAmt0727644
IRS990/TotalAssetsGrp/BOYAmt025725
IRS990/TotalAssetsGrp/EOYAmt0727644
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0380
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01208741
IRS990/TotalFunctionalExpensesGrp/TotalAmt01209121
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0792465
IRS990/TotalLiabilitiesEOYAmt02484545
IRS990/TotalLiabilitiesGrp/BOYAmt0792465
IRS990/TotalLiabilitiesGrp/EOYAmt02484545
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-766740
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1756901
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01208741
IRS990/TotalProgramServiceRevenueAmt0218960
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0218960
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0218960
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt025725
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0727644
IRS990/TotReportableCompRltdOrgAmt068757
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-766740
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1756901
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0655829
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt01648820
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt022 A Street
IRS990/USAddress/CityNm0Providence
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002907

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