Overview
What is Social Innovation Forum Inc?
Social Innovation Forum Inc, established as an independent 501(C)(3) organization in 2015, is based in Boston, Massachusetts. Their mission is to foster social change in the greater Boston area by empowering funders and investors to allocate resources more thoughtfully, while simultaneously educating and supporting leaders of nonprofit organizations to deliver the most impactful solutions to societal issues. Through their signature two-year program, known as the Social Innovator Accelerator, they offer capacity building support to impactful grassroots organizations, providing consulting, coaching, presentation training, networking opportunities, and access to financial resources and services. The forum operates as a "marketplace," connecting social purpose organizations with a community of investors and supporters, thereby leveraging the collective strength of the entire ecosystem for social impact. With a team of 21 dedicated individuals, Social Innovation Forum Inc is committed to making a meaningful difference in the community.
Official website here: www.socialinnovationforum.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Star Rating)
Social Innovation Forum Inc has achieved a strong rating of 95%, reflecting its commitment to accountability and financial management. The organization boasts an impressive score of 83% in Accountability & Finance and 94% in Culture & Community, showcasing its effective governance and responsible use of funds. Notably, the organization has a fully independent board and exhibits no material diversions of assets, indicating thorough oversight and ethical practices.
The financial health of the organization is commendable, with a program expense ratio of 66.55% and a fundraising efficiency ratio of $0.15, suggesting that a significant portion of its funds is directed towards programs rather than administrative costs. Additionally, the organization maintains a high working capital ratio of 1.85 years, which implies a strong liquidity position to support its ongoing operations and mission.
Despite these strengths, there are areas noted for improvement, particularly in equity strategies and data. While the organization scored well overall, it received a score of 91 out of 100 for equity strategies, indicating room for enhancement in this vital area. Overall, Social Innovation Forum Inc demonstrates robust financial practices and community engagement, establishing itself as a reliable nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Social Innovation Forum Inc legitimate?
Social Innovation Forum Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Social Innovation Forum Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $158,208
Professional Fundraising Fees: $0
Other Salaries and Wages: $933,002
For more financial information, click here
Official website here: www.socialinnovationforum.org
What is the mission statement of Social Innovation Forum Inc?
Social Innovation Forum Inc, established as an independent 501(C)(3) organization in 2015, aims to foster positive social change in wider communities by engaging and informing funders and investors. This enables them to allocate resources more effectively. Additionally, the organization educates and supports leaders of nonprofit organizations, helping them deliver the most impactful solutions to social issues. Social Innovation Forum Inc has developed a platform, referred to as a "marketplace," which connects innovative social purpose organizations with a community of individuals who can provide financial, technical, and coaching support. This strategic alliance leverages every role in the ecosystem for social impact.
Official website here: www.socialinnovationforum.org
Who is the CEO of Social Innovation Forum Inc?
Susan Musinsky is the Vice Chair of Social Innovation Forum Inc.
Official website here: www.socialinnovationforum.org
What is the revenue of Social Innovation Forum Inc?
Social Innovation Forum Inc's revenue in 2023 was $3,532,587.
Official website here: www.socialinnovationforum.org
Who are the executives of Social Innovation Forum Inc and what are their salaries?
The average compensation at Social Innovation Forum Inc during 2023 was $51,962. There are 21 employees and 67 volunteers at Social Innovation Forum Inc.
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- Compensation: $135,258
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- Other: $4,555
Official website here: www.socialinnovationforum.org
Where can I find the form 990 for Social Innovation Forum Inc?
Social Innovation Forum Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.socialinnovationforum.org
Learn more at the official website: www.socialinnovationforum.org
Mission Statement of Social Innovation Forum Inc
Social Innovation Forum Inc, established as an independent 501(c)(3) organization in 2015, is committed to fostering positive social change in greater Boston. The organization achieves this mission by actively engaging and informing funders and investors, empowering them to allocate resources more effectively. Simultaneously, Social Innovation Forum Inc educates and supports leaders of nonprofit organizations, enabling them to deliver the most impactful solutions to societal issues.
To accomplish this, Social Innovation Forum Inc has established a unique 'marketplace'. This platform connects innovative social purpose organizations, or 'innovators', with a community of individuals who can provide financial, technical, and coaching support. By leveraging the roles of every player within the ecosystem, Social Innovation Forum Inc amplifies its impact on driving social change.
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Impact
July, 2024
Social Innovation Forum Inc has had a substantial impact on creating positive social change in Greater Boston. Through its innovative approach, it has effectively engaged funders and investors to direct resources more effectively towards social issues. By supporting and educating leaders of social purpose organizations, Social Innovation Forum Inc has enabled them to deliver the most effective solutions to societal challenges.
One of the key initiatives of Social Innovation Forum Inc is its Social Innovator Accelerator program. This two-year program provides capacity-building support to impactful grassroots organizations through consulting, coaching, presentation training, networking opportunities, and access to financial support. By connecting social purpose organizations with a community of individuals who can provide various forms of support, Social Innovation Forum Inc has effectively leveraged every role in the ecosystem for maximum social impact.
Overall, Social Innovation Forum Inc's efforts have contributed significantly to addressing human services issues in the Greater Boston area, improving the lives of many individuals and communities.
This information is meant to be a general summary of Social Innovation Forum Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $25,850
- Program Service Revenue: $27,525
- Gross Receipts: $3,532,587
Assets and Liabilities:
- Total Assets: $4,049,141
- Total Liabilities: $124,961
- Net Assets: $3,924,180
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COWORKING FEES
Revenue
$27,525
Organization Details
Founding Year
2015
Phone
(617) 492-2305Principal Officer
Susan Musinsky
Main Address
2 OLIVER STREET SUITE 802, BOSTON, MA, 02109
NTEE Category
Code: P03 - Human services
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