Social Alpha Innovation Foundation

Nonprofit profile at a glance

EIN
874085081
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Saratoga, CA, USA
Phone
3393680358
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Engineering and Technology

Reported finances

Revenue
$1,029,455
Expenses
$884,652
Assets
$386,915
Liabilities
$49,559

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Vidya Phalke (CEO)

Highest reported compensation

  • Vidya Phalke (CEO): $140,000 total reported compensation

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

Overview

Mission

To support science and technology innovations and social entrepreneurship in the developing or under developed countries to address the problems of climate change, healthcare, education and poverty

What it reported doing in 2024

"SAIF's mission is to support multiple innovations and projects that underscore its vision. This project here is to replace fossil fuel with clean fuel in a mini-grid that powers real rural communities in India. Success of this project will establish a real proof-point for subsequent projects."

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 51% for direct work, and 49% 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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 86
  • Accountability: 16
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.1%; rating input score 80
  • Program expense ratio: 93.2%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 14.1%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 15.8%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 56.9% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 81.6% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 78.7% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 80.1% of revenue deployed · 93.2% of spending went to programs
  • Governance: 0 of 3 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $825K in reported program spending
  • Leadership: top reported pay $140K · 3 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

Key Signals

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

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.