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Social Innovation Forum Inc.

 One Congress Street, Suite 113
 Boston, MA 02114
[P] (617) 492-2305
[F] --
http://socialinnovationforum.org/
[email protected]
Melissa Duggan
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INCORPORATED: 2015
 Printable Profile (Summary / Full)
EIN 47-3923576

LAST UPDATED: 02/08/2018
Organization DBA Social Innovation Forum
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years Yes

Summary

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Mission StatementMORE »

The mission of the Social Innovation Forum (SIF) is to create positive social change in greater Boston by engaging leaders, strengthening organizations, and building networks. We do this by:

•  Engaging and informing funders and investors so they can direct resources most effectively.

•  Educating and supporting leaders of nonprofit organizations and social impact businesses so they can deliver the most effective solutions to social issues.

•  Making connections and building relationships across diverse communities so people can help each other to generate significant social change.

Mission Statement

The mission of the Social Innovation Forum (SIF) is to create positive social change in greater Boston by engaging leaders, strengthening organizations, and building networks. We do this by:

•  Engaging and informing funders and investors so they can direct resources most effectively.

•  Educating and supporting leaders of nonprofit organizations and social impact businesses so they can deliver the most effective solutions to social issues.

•  Making connections and building relationships across diverse communities so people can help each other to generate significant social change.


FinancialsMORE »

Fiscal Year July 01, 2017 to June 30, 2018
Projected Income $1,232,000.00
Projected Expense $1,228,947.00

ProgramsMORE »

  • Capacity Camp (Pilot in 2016)
  • Coworking and Community Support (New in 2017)
  • Impact Investing / Social Business Accelerator
  • Social Innovator Accelerator

Revenue vs. Expense ($000s)

Expense Breakdown 2017 (%)

Expense Breakdown 2016 (%)

Expense Breakdown 2014 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

The mission of the Social Innovation Forum (SIF) is to create positive social change in greater Boston by engaging leaders, strengthening organizations, and building networks. We do this by:

•  Engaging and informing funders and investors so they can direct resources most effectively.

•  Educating and supporting leaders of nonprofit organizations and social impact businesses so they can deliver the most effective solutions to social issues.

•  Making connections and building relationships across diverse communities so people can help each other to generate significant social change.


Background Statement

Founded by Andrew Wolk, CEO of the national nonprofit professional services organization Root Cause, SIF began as an experiment in bringing together Boston area leaders in nonprofits, business, philanthropy, and government to focus on allocating resources to nonprofits based on their performance.

Since 2003, SIF has grown from a volunteer-led initiative to an independent nonprofit organization with an active community of more than 6,000 funders, volunteers, and social purpose organizations. In the process, we have engaged more than 100 funding partners and built a committed network of more than 2,600 philanthropists, foundation staff, and business leaders; worked with more than 100 social impact organizations; moved over $31 million in cash and in-kind services to our portfolio organizations; and attracted more than ten long-term, in-kind partners.

In 2015 SIF spun off from Root Cause and incorporated as an independent nonprofit organization. In early 2017, the SIF acquired Next Mile Project, a Boston-based collaborative coworking space and nonprofit incubator.

Timeline

2003 - Andrew Wolk founded the Social Innovation Forum as a collaborative with 10 organizations including The Boston Foundation, Trefler Foundation, Associated Grant Makers, Root Cause, and More than Money.

2004 – Root Cause takes over SIF with a $20,000 budget.

2005 – Susan Musinsky hired as the Social Innovation Forum Director and first paid staff member. Under Susan’s leadership, the program has grown to a community of supporters numbering 2,600 with a portfolio of 106 organizations.

2011 – SIF established an Advisory Group to help guide the next phase of program growth.

2012 – SIF launched its first track on Impact Investing, focused on connecting social enterprises with investment capital that provides both social and financial return. Following this track, SIF launched its Social Business Accelerator, a separate program to support for-profit social impact businesses.

December 2014 – The Root Cause board of directors voted to spin off SIF into an independent organization.

July 1, 2015 – SIF began independent operations with 501c3 designation and a new board of directors.

2016 – SIF piloted a Bootcamp Program, offering a condensed version of the Social Innovator Accelerator to a cohort of eight nonprofit organizations.

2017 – SIF acquired the Next Mile Project, a Boston-based collaborative coworking space and nonprofit incubator and moved into space at One Congress Street.


Impact Statement

Since its founding in 2003, the Social Innovation Forum (SIF) has developed a successful model for directing new resources to innovative, results-oriented nonprofits and social enterprises in greater Boston. Its rigorous selection process and intensive program has brought together a “Social Impact Investment Community” of more than 2,600 philanthropists, foundation staff, business professionals, and government officials who are interested in supporting innovative, effective approaches to address important social issues.

The Social Innovation Forum has held twelve Showcase events and recognized over 106 nonprofits (“Social Innovators”) and social enterprises (“Impact Entrepreneurs”) across a variety of social sectors. Since 2003, SIF has directed more than $31 million in cash and in-kind services to organizations in its portfolio. The capacity building support SIF provides to its selected groups has assisted these organizations in, on average, more than doubling their revenue four years after engaging with the Social Innovation Forum, which in turn has allowed them to have greater social impact.

In 2017, SIF’s portfolio of Social Innovators impacted over 400,000 lives as they work to address the most pressing social issues in greater Boston including hunger, homelessness, youth development, and environmental sustainability.

Examples of growth in social impact of SIF portfolio organizations include:

• InnerCity Weightlifting has increased the number of students enrolled more than tenfold, from 14 students in 2010 to 159 in 2015 – giving Boston’s highest risk young people a chance to say no to violence and yes to opportunity.

• Hearth has increased the number of elders they help to secure permanent housing by 235% – allowing them to age with dignity, regardless of their medical, mental health, or social needs.

• My Life My Choice’s budget grew three-fold in the three years after the SIF engagement and today serves over 300 girls each year through survivor mentoring and prevention groups – providing them with critical support as they work to rebuild their lives.

• Smart from the Start has grown from 6 sites to 23 sites in Boston – ensuring that twice as many children from low income families enter kindergarten ready to learn.


Needs Statement

The local nonprofit sector is constantly evolving as new organizations crop up and existing organizations expand and improve their work. While there are countless models for social impact, today’s most effective organizations have several key characteristics in common. High-performing organizations are laser-focused on their missions, committed to financial sustainability, and diligent about collecting and using performance data to continuously improve their work. These best practices hold true across a wide range of organizations – and across different neighborhoods, social issues, and stages of organizational development. The Social Innovation Forum works to accelerate the development of enduring solutions to social problems by supporting these innovative, results-oriented organizations. SIF’s aspiration is to create a local social impact community that supports the growth of effective solutions to social issues. The program brings together an engaged community of philanthropists, foundation staff, business people, and government officials to support these groups that are applying effective solutions to address critical social issues affecting the region. As the Social Innovation Forum grows its work, it continues to seek individuals and organizations who can bring skills, talents, and financial resources to SIF and our portfolio organizations. Opportunities include partnerships to highlight particular social issues, mentoring and advising roles, and in-kind service relationships. 


CEO Statement

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Board Chair Statement

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Geographic Area Served

GREATER BOSTON REGION, MA

The Social Innovation Forum serves social impact organizations located in greater Boston. The majority of nonprofits in our program portfolio are located in the city of Boston and the surrounding communities, but we have also worked with several organizations serving Lowell, Lawrence, Worcester, and New Bedford. 

 

Organization Categories

  1. Community Improvement, Capacity Building - Nonprofit Management
  2. -
  3. -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

No

Programs

Capacity Camp (Pilot in 2016)

Over the past decade, the Social Innovation Forum (SIF) has developed a model to identify and accelerate the performance of innovative, results-oriented nonprofit organizations. One of SIF’s most significant challenges is that every year more than 130 organizations apply for the Social Innovator Accelerator. It has become evident that there are many more organizations that are qualified and eager to engage in SIF’s capacity building program than the Social Innovator Accelerator can accommodate.

To address this need, in 2016, SIF piloted a 9-week Boot Camp program for innovative nonprofits working in the field of environmental sustainability. The program delivered a condensed version of the Social Innovator Accelerator and engaged a cohort of eight leaders working in the sustainability field. With the support of our community, we provided pro bono services to the participants including one-on-one coaching and advising and training delivered by the SIF team and consultants. The Boot Camp concluded with a pitch event at which the participants shared their visions and plans with an audience funders and practitioners.

Budget  $50,000.00
Category  None of the above
Population Served At-Risk Populations
Program Short-Term Success 
The 2016 Pilot Boot Camp engaged a cohort of eight leaders working the sustainability field. Initial feedback from the participants was positive, with respondents indicating that they would recommend the program to a peer organization (9 on a 10-point scale).
 
The program concluded with a pitch event at which the participants shared their vision and plans with an audience of  90 potential funders and supporters.
 
The Boot Camp model allowed SIF to bring its capacity-building services to a wider range of nonprofit organizations that can be served annually by the Social Innovator Accelerator. SIF will pilot a second Capacity Camp in February 2018 with a cohort of organizations supporting refugees, immigrants, and asylum seekers.
Program Long-Term Success  SIF is still very much in progress of learning and iterating on the Boot Camp program and will continue to check in with participants to gauge longer-term results.
Program Success Monitored By  --
Examples of Program Success 
As stated above, SIF is in the process of learning and iterating on the Boot Camp program. Based on early results from feedback surveys collected from Boot Camp participants, respondents found the Boot Camp to be very helpful in practicing and preparing for pitch events, creating and using a prospectus for future opportunities, and in gaining skills in "how to work a room." Most participants responded that they would recommend the Boot Camp to peer organizations; this question garnered a 9 average on a 10-point scale. 
 
We continue to check in with our participants to gain a better understanding of longer-term results. 

Coworking and Community Support (New in 2017)

In early 2017, SIF acquired Next Mile Project, a coworking and collaborative space for nonprofit organizations. Through this new partnership, we are creating a vibrant social impact hub, offering nonprofits access to productive workspace, workshops and trainings, and opportunities to build and diversify their networks of peers and potential supporters.

Budget  --
Category  None of the above
Population Served At-Risk Populations
Program Short-Term Success  Following its acquisition of the Next Mile Project, SIF took over the management of a 5000-square foot coworking and collaborative space in downtown Boston. Early accomplishments include remodeling the space and recruiting a diverse group of new coworking member organizations through a combination of low-cost paid memberships and donor-supported sponsored desk space. Coworking members enjoy basic office amenities, peer networking, and access to SIF events, learning sessions, and mentors and volunteers.
Program Long-Term Success  Coworking at the Social Innovation Forum is still in its early phases. We continue to gather feedback from members to refine our offerings.
Program Success Monitored By  --
Examples of Program Success  As part of its commitment to supporting organizations working on refugee and immigrant issues, Eastern Bank provided SIF with funding to sponsor coworking memberships to nonprofit organizations focused on these issues. These new groups have just joined the coworking space and we look forward to supporting them in a variety of ways during their time here.

Impact Investing / Social Business Accelerator

The Social Innovation Forum (SIF) entered the impact investing space in 2012 after nearly a decade of experience accelerating the growth of innovative, effective nonprofit organizations. Our community of funders and investors had requested opportunities to invest in local social enterprises, and we knew that local impact entrepreneurs had been actively seeking ways to access the capital they needed to grow. To meet this need, we developed our Social Business Accelerator, a program to link entrepreneurs with mentors who help them achieve their business goals and with networks of investors who seek to invest capital for both impact and financial return.

SIF has brought together a community around social impact businesses in greater Boston. Through our Social Business Accelerator, SIF has supported four cohorts of entrepreneurs, offering them access to mentors and connecting them to investors seeking both financial and social returns. After four years, SIF stopped running the Social Business Accelerator, but continues to support the alumni organizations and host events and convenings related to impact investsing to share our learnings with the field

Budget  $150,000.00
Category  None of the above
Population Served At-Risk Populations
Program Short-Term Success 

What we’ve accomplished through our Social Business Accelerator:

  • Supported 24 social impact businesses
  • Engaged more than 50 mentors from business and industry.
  • Helped companies raise $4 million in investment capital — $700,000 of which came through SIF connections.
Program Long-Term Success 

The field of impact investing is still quite fragmented and early-stage, and challenges remain for both entrepreneurs and investors. The Social Innovation Forum’s experience has been one of learning and exploration, and we look forward to continuing to evolve this work in the future.

Key Lessons Learned

· It’s clear that the SIF model from its nonprofit accelerator can be adapted for use with for-profit social businesses, but it needs leadership and mentors who have both business experience and applicable industry knowledge to assist the companies in their work. Thoughtful mentor recruitment and matching has been key to companies deriving value from the accelerator.

· There is a significant and growing interest in impact investing from both investors and the philanthropic community, yet translating interest into actual investments has occurred slowly. As people manage the complexities of adapting traditional approaches (i.e. due diligence, risk assessment, and deal structures) to this field, it will require extra effort to bring investors and businesses together.

· Measuring the social impact of for-profit businesses is challenging. Despite a commitment to social good, few of our portfolio companies are actively measuring their social impact. Helping companies track, measure, and communicate their social impact in a manageable way is an important area of focus in order to take this work to the next level.

SIF has worked with entrepreneurs who represent a range of business stages and social impact areas. We have engaged mentors and investors with different backgrounds, interests, and approaches. We are proud of our successes in supporting social businesses and advancing the field. Knowing that this work is challenging and emerging over time, we will take a long-term approach as we work to link investors and entrepreneurs. We will continue to build and adapt our model while seeking connections with others working in the field. We will deepen partnerships with funders and investors who are exploring new ways to deploy capital for social good, providing the education and information they need to invest in impact. And, we will provide ongoing mentoring and support to social business entrepreneurs, particularly those whose work will benefit diverse and disadvantaged communities in greater Boston.

Program Success Monitored By 

In 2016 we commissioned a special report in order to reflect on our accomplishments and help us continue to refine our approach in this field.

The Social Innovation Forum surveys its Impact Entrepreneurs on an annual basis to document the enduring results of our engagements with them. It tracks developments in these organizations' financials and business models, and its team keeps a record of resources that they receive as a direct or indirect result of their work with SIF. The Social Innovation Forum staff also convenes its impact entrepreneurs periodically for peer learning opportunities and continues to support and connect entrepreneurs with potential investors. 
Examples of Program Success 

GRIT -- GRIT (Global Research Innovation & Technology), a 2013 Impact Entrepreneur, gained visibility and exposure to potential investors, particularly those who were looking to back companies that promised both a financial and a social return. CEO and Co-Founder Tish Scolnik and her team of MIT-trained mechanical engineers took advantage of SIF networking opportunities while in the program and continued to engage actively in the SIF community as alumni. Through SIF, Tish met Jeff Kushner, former CEO of BlueMountain Capital, Europe, and an active social impact investor, who later became a lead investor and GRIT board member.  Since 2013, GRIT has sold more than 1,500 chairs in developing countries, and the company has brought an updated version of the Freedom Chair to market in the United States. Drawing on the materials created with SIF, GRIT began actively fundraising and in July 2015 closed its first funding round, raising $650,000 from 16 impact and angel investors, many of whom came through the SIF network. GRIT will use this investment to build its marketing and sales capacity so that it can grow both its social and financial impact to the next level.



Social Innovator Accelerator

The Social Innovator Accelerator provides a unique opportunity for innovative nonprofits to gain visibility, expand their networks, and build capacity. This Accelerator uses a rigorous application and evaluation process to identify effective, small to mid- sized nonprofits (budget range: $100,000-$2M) that are poised for growth. Once selected into the SIF portfolio as “Social Innovators,” organizations receive access to cash and benefits valued at more than $150,000:

· Five months of consulting services focused on enhancing the organization’s ability to articulate the social problem it is addressing, its innovative approach, and its social impact. Final deliverables include a written investment prospectus and a five-minute pitch with PowerPoint slides.

· Six months of executive coaching

· $10,000 cash upon completion of the consulting engagement

· Showcasing via numerous events, including a spring Showcase that annually attracts more than 300 Boston business leaders, institutional funders, and individual philanthropists

· Networking and relationship-building support

· Graphic design services

· Presentation coaching

· Additional support from the Social Innovation Forum’s in-kind partners (e.g., legal, graphic design, PR, technology)

After 24 months, Innovators enter our “forever portfolio,” and SIF continues to provide support and connections to our community.

Budget  $760,603.00
Category  Community Development, General/Other
Population Served At-Risk Populations
Program Short-Term Success 

Through the course of a structured consulting engagement, SIF works with Social Innovators to produce two key deliverables: a five-minute investment pitch with PowerPoint slides, and a four-page investment prospectus. With such tools at their disposal, Social Innovators can pursue the resources that they need in order to run effective, financially sustainable organizations. SIF also assists Social Innovators to access in-kind partners, specializing in the areas of graphic design, legal counsel, marketing, technology, and more. The executive coaching that SIF provides to Innovators, furthermore, equips them to become more effective leaders and managers. Finally, SIF helps Social Innovators select appropriate performance metrics, set two-year targets, measure their progress towards these targets, and present the results to potential investors. The successful delivery of each of these materials and services are short-term benefits that catalyze long-term social impact for the Innovators. 

Program Long-Term Success 

SIF has two sets of long-term goals: one for the nonprofits it serves, and another for greater Boston’s funding community. As a result of the 24-month engagement, SIF hopes to equip our Social Innovators with the capacity, knowledge, and networks needed to develop financial sustainability and, most importantly, increased social impact.

Alumni Innovator survey data evaluated by The Analysis Group in 2015 showed that:

• Social Innovators, on average, more than double their revenue four years after engaging with SIF.

• Our Innovators’ average annual revenue growth is 10x the Massachusetts nonprofit average.

SIF also strives to assist local funders by providing them with examples of innovative, nonprofit organizations that are effectively addressing the region’s most pressing social problems. Through the showcasing of Social Innovators, SIF helps philanthropists and foundation representatives make high-impact investments in their communities.

Program Success Monitored By 

The Social Innovation Forum staff surveys Social Innovators on an annual basis to document the enduring results of its engagements with them. SIF tracks developments in these nonprofit organizations’ budgets and staff size, and the team keeps a record of resources that they receive as a direct or indirect result of their work with SIF. The Social Innovation Forum staff also solicits written and oral feedback from our executive coaches, consultants, funding partners, and other program participants.

Examples of Program Success 

In 2016, Social Innovators impacted over 250,000 lives as they work to address the most pressing social issues in greater Boston including hunger, homelessness, youth development, and environmental sustainability. Examples of growth in social impact of our innovators include:

Four years after being selected as a Social Innovator, InnerCity Weightlifting has more than doubled its revenue and increased youth served by 92%. With a 78% reduction in arrests for violent crimes after joining the program and 90% rate of reporting increased hope for the future, ICW student trainers are increasingly saying “no” to violence and “yes” to opportunity.

In the five years after its selection as a Social Innovator, Smart from the Start saw steady revenue growth and expanded from six to 23 locations. Independent evaluations of the organization’s programs have shown that their model works, with Smart from the Start children scoring between 80-100% on all indicators of school readiness.

In the 18 months since it presented at the SIF Showcase, Catie’s Closet brought its program to an additional six schools, providing an additional 4,500 kids with clothing and other essentials. The organization is preparing to launch a national affiliate model.  

CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Ms. Susan Musinsky
CEO Term Start June 2005
CEO Email [email protected]
CEO Experience

With a wealth of experience in the nonprofit sector, Susan joined Root Cause in 2005 as Director of the Social Innovation Forum. In 2015, after 10 years of helping to grow SIF into a well-recognized and highly respected program, Susan co-led the spin-off of the program into an independent organization. In the newly formed entity, Susan works with investors (individuals and foundations) and non-profit and for-profit social entrepreneurs to accelerate solutions to critical social problems. Susan thoroughly enjoys building community and connecting people, and her vision is to build a powerful network where funders and practitioners work together toward social change. Through her work, Susan has shown that social impact and social change do happen from creating purposeful, mission-focused communities.

Among other experiences, Susan was Executive Director of the National Conference for Community and Justice's (NCCJ) Boston office, which grew threefold under her leadership. She has participated on many local boards, including serving as past chair of Congregation Beth El's Tzedkah Hevra group, and as a 10-year founding member of the Watertown Community Foundation’s Board of Directors.
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
Ms. Susan Musinsky -- --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
Massachusetts Nonprofit Network 2017
Member of state association of nonprofits? Yes
Name of state association Massachusetts Nonprofit Network

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

--

CEO/Executive Director/Board Comments

--

Foundation Comments

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Staff Information

Number of Full Time Staff 7
Number of Part Time Staff 1
Number of Volunteers 178
Number of Contract Staff 8
Staff Retention Rate % --

Staff Demographics

Ethnicity African American/Black: 1
Asian American/Pacific Islander: 0
Caucasian: 6
Hispanic/Latino: 1
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 7
Male: 1
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Yes
Organization has Strategic Plan? Under Development
Years Strategic Plan Considers N/A
Management Succession Plan No
Business Continuity of Operations Plan No
Organization Policies And Procedures Under Development
Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy Yes
State Charitable Solicitations Permit Yes
State Registration Yes

Risk Management Provisions

Commercial General Liability
Employment Practices Liability
Directors and Officers Policy
Workers Compensation and Employers' Liability
Professional Liability

Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Annually

Governance


Board Chair Mr. Ryan Dings
Board Chair Company Affiliation Sunwealth
Board Chair Term July 2015 -
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Mr. Ryan Dings Sunwealth Voting
Ms. Katherine Gross The Charlotte Foundation Voting
Mr. Weston Howland Howland Capital Management Voting
Mr. David Howse ArtsEmerson Voting
Ms. Susan Musinsky Social Innovation Forum Voting
Mr. Andy Offit City of Somerville Voting
Mr. Vikram Punwani Bain Capital Voting
Ms. Marie Schwartz TeenLife Media Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 1
Asian American/Pacific Islander: 1
Caucasian: 6
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 3
Male: 5
Not Specified 0

Board Information

Board Term Lengths 3
Board Term Limits 0
Board Meeting Attendance % 100%
Written Board Selection Criteria Yes
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 100%
Percentage of In-Kind Contributions 100%
Constituency Includes Client Representation Yes

Standing Committees

  • Audit
  • Compensation
  • Finance

CEO/Executive Director/Board Comments

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Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2017 (%)

Expense Breakdown 2016 (%)

Expense Breakdown 2014 (%)

Fiscal Year July 01, 2017 to June 30, 2018
Projected Income $1,232,000.00
Projected Expense $1,228,947.00
Form 990s

2016 990

Audit Documents

2017 Audited Financials

2016 Audited Financials

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2017 2016 2014
Total Revenue $1,605,700 $2,289,165 $949,480
Total Expenses $1,459,328 $1,450,664 $863,575

Prior Three Years Revenue Sources

Fiscal Year 2017 2016 2014
Foundation and
Corporation Contributions
$965,585 $1,478,459 $554,390
Government Contributions $0 $0 $0
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified -- -- --
Individual Contributions $195,502 $450,233 $47,185
Indirect Public Support -- -- --
Earned Revenue -- -- --
Investment Income, Net of Losses -- -- --
Membership Dues -- -- $6,250
Special Events -- -- $14,850
Revenue In-Kind $444,613 $360,473 $326,805
Other -- -- --

Prior Three Years Expense Allocations

Fiscal Year 2017 2016 2014
Program Expense $1,147,261 $1,093,397 $739,288
Administration Expense $166,164 $184,688 $99,430
Fundraising Expense $145,903 $172,579 $24,857
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 1.10 1.58 1.10
Program Expense/Total Expenses 79% 75% 86%
Fundraising Expense/Contributed Revenue 13% 9% 4%

Prior Three Years Assets and Liabilities

Fiscal Year 2017 2016 2014
Total Assets $1,135,694 $934,920 $0
Current Assets $1,135,694 $934,920 $0
Long-Term Liabilities $0 $0 $0
Current Liabilities $150,821 $96,419 $0
Total Net Assets $984,873 $838,501 $0

Prior Three Years Top Three Funding Sources

Fiscal Year 2017 2016 2014
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value --
Spending Policy --
Percentage(If selected) --
Credit Line Yes
Reserve Fund No
How many months does reserve cover? --

Capital Campaign

Are you currently in a Capital Campaign? No
Capital Campaign Purpose --
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? No

Short Term Solvency

Fiscal Year 2017 2016 2014
Current Ratio: Current Assets/Current Liabilities 7.53 9.70 --

Long Term Solvency

Fiscal Year 2017 2016 2014
Long-term Liabilities/Total Assets 0% 0% 0%

CEO/Executive Director/Board Comments

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Foundation Comments

Social Innovation Forum Inc. (SIF) received its own nonprofit status from the IRS, per the IRS Letter of Determination posted above, effective April 2015. SIF was formerly a division of Root Cause Institute Inc. Financial summary data in the charts and graphs above is per SIF's audited financials for FY17 and FY16 and per internal records for FY14. During SIF's time as a division of Root Cause Institute Inc., asset and liability data was tracked on an organizational wide level only. Please note, half-year data for FY15 (covering Jan. 1, 2015 - June 30, 2015) is not included in the charts and graphs above, as during the time SIF separated from Root Cause, SIF changed is fiscal year from a calendar year to a July - June fiscal year.

Documents


Other Documents

No Other Documents currently available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

The Social Innovation Forum seeks to create a stronger, healthier, more equitable greater Boston by building a powerful mission-focused community where funders and practitioners work together toward social change.


2. What are your strategies for making this happen?

The Social Innovation Forum is a Boston-based connector and catalyst committed to building lasting social change by aligning the strengths and passions of investors and social good organizations to more effectively address complex social problems. SIF uses a “marketplace” approach, connecting social purpose organizations with a community of individuals who can provide financial, technical, and coaching support. The idea behind the marketplace is that all participants give value to and receive value from each other, allowing for social impact to emerge at levels that would otherwise be impossible to achieve.

SIF works on both sides – supporting nonprofit organizations and social impact businesses and working with the funder, investor, and volunteer community. SIF is in the middle, representing our position as the marketplace for social impact. In creating this marketplace, SIF not only facilitates the exchange of resources, but also works to connect people within the marketplace, leveraging every role in the ecosystem for social purpose.

SIF’s flagship program is our “Social Innovator Accelerator.” Each year SIF chooses a handful of innovative, results-driven nonprofits poised for growth and increased social impact. Our search and selection process lasts six months and involves two rounds of written applications, in-person interviews, and other forms of due diligence. It brings together a range of stakeholders, including SIF staff, funding partners, issue area experts, and an evaluation committee made up of more than 90 business, government, and foundation leaders. By drawing on the expertise of our community throughout this evaluation stage, we are able to assure investors and pro-bono partners that support of SIF and the organizations we select will yield significant social impact. After a 24-month engagement, which includes consulting, executive coaching, graphic design, performance measurement, presentation advising, and relationship building, our Innovators remain in our portfolio indefinitely, giving them continued access to our network and resources.

In 2012, SIF began expanding its work beyond nonprofit organizations to include for-profit businesses that focus on social impact. This part of the SIF portfolio appeals to investors interested in investing capital for both social and financial return. Still in its early stages, this work with for-profits is structured around an accelerator (the Social Business Accelerator) and draws on the same marketplace approach.

Additionally, in 2016, SIF piloted a “Boot Camp” funded by Schrafft Charitable Trust. This program, designed to extend the reach of SIF to more nonprofits and funder/investors, delivered a condensed model of the Social Innovator Accelerator to a cohort of eight nonprofits working in the field of environmental sustainability.

3. What are your organization’s capabilities for doing this?

1. Rigorous evaluation and selection of portfolio organizations - For the Social Innovator Accelerator, SIF engages the community through its intensive, 6-month selection process, which includes nominating, evaluating, and interviewing committees comprised of issue experts, community leaders, funders, practitioners, business people, and representatives of the populations being served by the organizations. Applicants report that the process helps them reflect on their organizational goals and impact, and they appreciate the feedback they receive. Groups carry a recognized “imprimatur” of having been vetted by SIF. Funders and volunteers also benefit from the work done by SIF to identify and assess organizations.

2. A network of skilled volunteers and an intentional matching process - SIF deliberately spends significant time and energy building its community of supporters and investors, nurturing relationships with and between them, and helping them to help the organizations in the portfolio. SIF has found that by successfully sourcing, cultivating, and supporting high-level volunteers, not only is the value of volunteer time leveraged to provide more direct support than SIF could afford to fund directly, but it also creates more long-term impact through the level of commitment and enduring relationships that can develop.

3. Deep connections with institutional partners - Drawing on the in-kind support of partners provides much-needed professional services to SIF’s innovators while enabling SIF to extend its per-dollar impact. SIF provides in-kind partners with a customized structure that allows the partner’s employees to give of their time and talents, expand their own skills by working on unique projects, and become a part of the broader SIF community committed to social change in greater Boston.

4. Experience supporting small organizations with performance measurement - Recognizing that performance measurement can be challenging, particularly for smaller, early-stage organizations, SIF helps groups to advance their efforts in this area, regardless of starting points. SIF consultants work with innovators to set measurable performance targets in three key areas: program performance, organizational health/capacity building, and social impact. Following the Showcase, SIF holds quarterly check-in calls with innovators to track their progress toward these goals and discuss the successes and challenges they’ve experienced. After two years of engagement, SIF publishes a “Performance Measurement Report” for each innovator and shares these results with the broader community.

5. Collaborative and Coworking Space - In early 2017, the Social Innovation Forum acquired the Next Mile Project and now administers a 5,000+ square-foot facility in downtown Boston designed to support sector wide nonprofit collaboration and education. This is a unique asset for SIF in building the marketplace for social change.


4. How will your organization know if you are making progress?

The Social Innovation Forum believes that performance measurement continues to serve as a valuable decision-making tool for both Social Innovators and the funders that support them. SIF believes that performance measurement must be integrated into any assessment process and, if provided, will allow funders to effectively evaluate an organization and its impact. To demonstrate its commitment to performance measurement, SIF has also assessed its own work as an organization and has collected data that demonstrates that its work has made a difference.

SIF is committed to supporting the ongoing learning of its Social Innovators through its performance measurement process, which includes developing a set of performance metrics and tracking these metrics against established short-term goals on a quarterly basis. It guides each of the Social Innovators through a 12-month performance measurement process, which gives leaders a structure to capitalize on the Social Innovation Forum process and work towards performance targets. After two years of engagement, SIF works with each Social Innovator to publish a Performance Measurement Report to demonstrate how they have grown, learned, and shared successes and challenges. Social Innovators’ commitment to tracking their progress and making course corrections is just one of the many attributes that has propelled them forward and helped position them for continued growth and success.

In addition, the Social Innovation Forum tracks a number of metrics for our own learning and improvement and has published periodic report cards showing its impact in the greater Boston community. Building on our previous results, the 2015 data shows that on average, Social Innovators more than double their revenue four years after engaging with SIF. As a result, they are able to provide their services to a larger number of people in need. In 2016, Social Innovators directly impacted over 250,000 lives as they work to address the most pressing social issues in greater Boston including hunger, homelessness, youth development, and environmental sustainability.

For example, InnerCity Weightlifting (ICW), a 2012 Social Innovator that uses fitness training as a tool to reduce violence and promote professional, personal and academic achievement among urban youth, has demonstrated tremendous growth since working with SIF. ICW increased its budget from $500,000 after six months of completing the SIF engagement, and then to over $1 million three years later, opening their first gym in Dorchester and giving their students a place to find hope and opportunity. Less than two years later, ICW opened a second gym in Kendall Square.

We are in the early stages of learning how to measure the depth of impact that comes from our capacity building and marketplace approach. We look forward to finding ways to assess how learning and relationships assist leaders in longer term organizational growth and sustained ability to lead and create lasting social impact. The Barr Foundation has given SIF a 2-year grant to begin framing this assessment and develop ongoing evaluation practices.

5. What have and haven’t you accomplished so far?

As it has grown from a small, volunteer-led program to an independent organization with a budget over $1million, the Social Innovation Forum has developed a successful model for directing new resources to innovative, results-oriented nonprofits and social enterprises in greater Boston. Its rigorous selection process and intensive program has brought together a “Social Impact Investment Community” of more than 2,600 philanthropists, foundation staff, business professionals, and government officials who are interested in supporting innovative, effective approaches to address important social issues. The Social Innovation Forum has held more than a dozen Showcase events and recognized over 106 nonprofits (“Social Innovators”) and social enterprises (“Impact Entrepreneurs”) across a variety of social sectors. Since 2003, SIF has directed more than $24 million in cash and in-kind services to organizations in its portfolio.

It is clear from the growth of the organizations in the SIF portfolio and the measurable increase in the number of people affected by this growth that the SIF model works. Over the long term, its goal is for the Social Innovation Forum to become the go-to curator and accelerator of social change organizations in greater Boston and a key resource for Boston’s philanthropic community seeking out the most effective solutions to social issues. SIF is ready to take its vision of making greater Boston a better place to the next level.

With all that SIF has accomplished, much work remains to be done. In the next phase of development, two key questions stand out as being essential to SIF’s success. The first is a question of scale. Challenges to scale are inherent in the marketplace model, which thrives due to the high-touch, local, and relationship-based nature of SIF’s approach. As more community building moves onto digital platforms, the SIF team has both challenge and an opportunity as it continues to develop its model.

Another key element to SIF’s future success is increasing the diversity of the organization both within SIF’s own staff and in the broader community. As the SIF team and its community grow, it will be essential to strengthen relationships and recruit in ways that intentionally build an inclusive network that is representative of the diverse communities, populations, and social issues addressed through SIF’s work. Increasing diversity within the SIF community will allow the organization to move its work forward more effectively by having a broader set of perspectives helping to guide it into its next phase.