Soros Economic Development Fund
The Soros Economic Development Fund (SEDF) is the impact investment arm of the Open Society Foundations. Based in New York City, SEDF operates as a private grantmaking foundation and nonprofit organization classified as a 501(c)(3) private foundation. The organization makes private-sector investments to advance the Open Society Foundations' enduring commitments of equity, expression, and justice.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$174.9M
-16.6% YoY
Annual Giving
$6.5M
+239.5% YoY
Grant Count
16
+100.0% YoY
Avg Grant Size
$406K
+69.7% YoY
Mission & Focus Areas
SEDF's mission is to alleviate poverty and community deterioration through impact investing. The fund supports economic development in post-conflict countries and nations transitioning to democracy, promoting economic opportunities and access to information, products, and services for underserved populations.
SEDF invests in sustainable businesses and initiatives that strive to alleviate poverty by creating jobs and revitalizing deteriorating communities. Through its investments, SEDF aims to support direct, measurable impact and longer-term systemic change—including positively influencing the behavior or practices of public and private sector actors, shaping policy, and strengthening local market infrastructure.
Grantmaking
SEDF makes debt, equity, guarantee investments, and deposits in selected banks, microfinance institutions, cooperatives, and social enterprise projects worldwide. The fund has committed over $550 million in debt, equity, and guarantees to businesses, funds, platforms, and nonprofits across geographies and sectors.
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Geographic Focus
Where this funder awards grants
SEDF operates globally with a particular emphasis on post-conflict countries and nations transitioning to democracy. The organization maintains offices in New York, Budapest, Freetown, Johannesburg, and Nairobi, indicating active presence across multiple continents including Africa and Eastern Europe.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets: $120,687,001
Revenue: $63,674,610
Expenses: $7,094,079
Tax Status: Tax-exempt since November 1994
EIN: 13-3965896
The organization has over $200 million in investment capital and employs approximately 12-15 people across its global offices.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $174,941,278 | $209,698,195 | $171,335,557 |
| Revenue | $-17,780,034 | $46,856,690 | $-4,614,191 |
| Expenses | $17,152,427 | $8,470,220 | $15,187,204 |
| Qualifying Distributions | $30,209,706 | $21,904,067 | $25,703,909 |
| Net Investment Income | $339,975 | — | $2,278,455 |
| Distributable Amount | $3,137,427 | $2,989,918 | $8,012,036 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
41 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Key leadership includes:
- Georgia Levenson Keohane, Chief Executive Officer
- Catherine Cax, Managing Director, Investments
- Corey Karaka, Investment Principal
- Anita F, Investments Principal
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| GEORGIA KEOHANE | CEO | 40 | — |
| CATHERINE CAX | DIRECTOR OF INVESTMENT | 40 | — |
| JAMES BEAVER | TREASURER | 40 | — |
| NICOLE STALLWORTH | SECRETARY | 40 | — |
| MAIJA ARBOLINO | DIRECTOR | 1 | — |
| LEONARD BENARDO | DIRECTOR | 1 | — |
Recent News & Activity
Recent developments and announcements
SEDF has made recent investments in climate and energy transition initiatives in Africa, including a $10 million investment in an African-led initiative to accelerate a just energy transition and drive inclusive, sustainable development. The fund has also invested $7 million in the Persistent Climate Fund to scale Africa's green economy.
Soros Economic Development Fund invests $7m in Persistent Climate Fund to\SEDF supports sustainable economic solutions that protect both people and planet, including initiatives like the Kiva Refugee Investment Fund, which provides microfinance loans to refugee entrepreneurs.
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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