Silicon Valley Social Venture Fund - Sv2

Nonprofit profile at a glance

EIN
510644783
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Redwood City, CA, USA
Phone
6505268171
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$2,281,220
Expenses
$1,991,824
Assets
$2,810,059
Liabilities
$581,511

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

22 people listed

Executive titles in this filing

  • DAVID ONEK (CEO)

Highest reported compensation

  • DAVID ONEK (CEO): $260,450 total reported compensation
  • ANNE J CHANG 85 FTE (COO): $182,751 total reported compensation
  • AMY BADIANI (DIR COMM ENGAGEMNT): $144,477 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Silicon Valley Social Venture Funds (SV2) mission is to unleash the talents and resources of the Bay Area community to achieve meaningful social impact. SV2 works to build the organizational capacity of our Nonprofit Grantees and Impact Investees and the philanthropic capacity of our donors (called Partners). SV2 does this through engaged Grantmaking, Impact Investing, and Immersive Learning Sessions in a number of issue areas with funds contributed by our Donor Partners.

What it reported doing in 2024

Experiential Grantmaking & Impact Investing: SV2 Partners pool their charitable contributions and then work together to identify and select high-potential Grantees and Impact Investees from among local nonprofits and early-stage companies with a social or environmental impact mission. Grantees and Investees receive unrestricted funding in order to scale their ability to achieve their missions and contribute to a Bay Area and world where everyone thrives. In 2024-25, SV2 made four multi-year, general operating support grants to Bay Area nonprofits. Two of these grants were to nonprofits focused on community organizing, and two of these grants were to nonprofits focused on education equity. SV2 also conducted its tenth year of impact investing, in which Partners performed due diligence and recommended four mission-driven companies in which SV2 made investments. Data suggests that, as a result of their engagement in SV2 programming, 89% of Partners increased their level of knowledge about local community needs and solutions, 81% of Partners felt an increase in ability to conduct effective due diligence on social impact organizations, and 83% of Partners experienced increased confidence in practicing effective giving.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 46% for direct work, and 54% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.9%; rating input score 71
  • Program expense ratio: 79.4%; rating input score 79
  • Fundraising efficiency: $22.8 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.7%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 1.41; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 29.5%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 70.9% of revenue deployed · 79.4% of spending went to programs
  • Governance: 20 of 20 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $260K · 22 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.