RF Catalytic Capital (RFCC)

RF Catalytic Capital was officially incorporated as a standalone tax-exempt organization in September 2020. ¹

Activities

RF Catalytic Capital bills itself as a new tool that allows donors as well as the Rockefeller Foundation itself to fund initiatives related to an “equitable recovery from the COVID-19 crisis.” As its founding goal was to address the aftermath of the COVID pandemic, it furthermore states that it aims to respond to “the deep social and racial inequalities and vulnerabilities it has exposed and accelerated.” ^{2 2}

It more broadly defines its efforts as attempts to “catalyze more inclusive access to opportunity in the United States and around the world.” ¹ It writes that “ending energy poverty while addressing climate change” is another goal it desires to tackle, and claims that it endeavors to provide “reliable renewable electricity” to hundreds of millions of people in the developing world. Moreover, it wants to increase access to healthy foods as well as “equity and economic opportunity” for American citizens. ¹

It funds existing and new initiatives of the Rockefeller Foundation. It intends to advance support for its left-of-center causes through advocacy efforts and serve as a management and oversight vehicle for the projects it funds, similar to left-of-center consulting firm Arabella Advisors. ³

Financials

In 2020, RF Catalytic Capital launched with roughly $6.7 million in its account in the form of assets and suffered $500,000 in liabilities. ⁴

In 2021, it reported a revenue of $246,273,218, expenses of $13,480,177, and ended the year with $239,544,327 in net assets. ⁵

Funding

According to its 2021 tax return, RF Catalytic Capital gave grants to American Heart Association’s Periodic Table of Food Initiative ($5.4 million), Sayara Media and Communication’s Afghanistan Refugee Project ($1.25 million), and Johns Hopkins University’s Partnership to Scale COVID-19 Testing ($1.1 million). It gave sizable grants to other participants in Johns Hopkins’ COVID project as well, including Californians Dedicated to Education Foundation, Friendship Public Charter School, CovidCheck Colorado, Manchester Medical Center Foundation, Yale University, and Testing for America. ⁶

Leadership

On its 2021 tax return, RF Catalytic Capital stated that its principal officer was Steven Vanroekel, who, as president of the organization, received a base compensation of $634,287. Secretary Maria Santos Valentin received a base salary of $505,315 and treasurer Dominick Impemba received $465,639. ⁷

It was registered as at 420 Fifth Avenue in New York, New York, the same address as the Rockefeller Foundation. ^{7 8}