Reinvestment Fund Inc
- Assets
- $609.3m
- Revenue
- $44.6m
- Investments
- $0.0
- Employees
- 93
- Location
- Philadelphia, PA
- Founding
- 09/1985
- Data as of
- 12/2021
- EIN
- 23-2331946
Organization Overview
Reinvestment Fund Inc is located in Philadelphia, PA. The organization was established in 1985. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Reinvestment Fund Inc employed 93 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reinvestment Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Reinvestment Fund Inc generated $44.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $36.0m during the year ending 12/2021. While expenses have increased by 4.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Reinvestment Fund Inc has awarded 839 individual grants totaling $45,258,583. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE REINVESTMENT FUND, INC. CREATES OPPORTUNITY FOR UNDERSERVED PEOPLE AND PLACES THROUGH PARTNERSHIPS. IT MARSHALS THE CAPITAL, ANALYTICS, AND EXPERTISE NECESSARY TO BUILD STRONG, HEALTHY, AND MORE EQUITABLE COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LENDING AND COMMUNITY INVESTING: ENCOMPASSES THE ORGANIZATION'S FINANCING OF HOMES, SCHOOLS, HEALTHY FOOD RETAIL, HEALTHCARE AND OTHER PROJECTS THAT BENEFIT LOW-WEALTH PEOPLE AND PLACES AND IS THE CORE LENDING FUNCTION OF THE ORGANIZATION.
POLICY SOLUTIONS: CONDUCTS POLICY, DATA ANALYSIS AND SOCIAL IMPACT ANALYSES THAT ADVANCE REINVESTMENT FUND, INC.'S MISSION AND EFFECT SYSTEM CHANGE, ON BEHALF OF REINVESTMENT FUND, INC. AS WELL AS PUBLIC AND PHILANTHROPIC CLIENTS.
SUSTAINABLE DEVELOPMENT FUND ("SDF"): REPRESENTS AN ENERGY-RELATED FUND THAT USES LOANS, INVESTMENTS AND GRANTS TO AUGMENT THE ORGANIZATION'S EXISTING ENERGY CONSERVATION AND COMMUNITY INVESTING EFFORTS. SDF WAS CREATED BY THE PARTIES TO THE PECO ENERGY COMPANY ("PECO ENERGY") RESTRUCTURING AND APPROVED BY THE PENNSYLVANIA PUBLIC UTILITY COMMISSION ("PUC") IN MAY 1998.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Hinkle-Brown President & CEO | Officer | 38.25 | $600,484 |
Michael M Crist Evp & CFO | Officer | 38.25 | $424,949 |
Nancy Wagner-Hislip Chief Investment Officer | Officer | 39.75 | $361,560 |
M Amanda High Chief Of Strategic Initiatives | Officer | 40 | $325,946 |
Ira Goldstein President Of Policy Solutions | Officer | 40 | $304,264 |
Cheila Fernandez COO & Secretary | Officer | 25 | $265,545 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ha Storage It Infrastructure | 12/30/21 | $271,241 |
Rsm Us Llp Accounting Services | 12/30/21 | $255,600 |
Miles And Stockbridge Pc Legal Services | 12/30/21 | $178,314 |
Nvg Llc Lobbying, Strategic Advice, Outreach | 12/30/21 | $204,000 |
Strategic Decision Solutions Consulting Services | 12/30/21 | $145,483 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,590,665 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,171,045 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,761,710 |
| Total Program Service Revenue | $31,093,053 |
| Investment income | $1,281,354 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,655,689 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,624,452 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,353,646 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,930,366 |
| Compensation of current officers, directors, key employees. | $1,694,272 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,341,416 |
| Pension plan accruals and contributions | $554,285 |
| Other employee benefits | $1,359,679 |
| Payroll taxes | $683,225 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $90,795 |
| Fees for services: Accounting | $346,883 |
| Fees for services: Lobbying | $204,000 |
| Fees for services: Fundraising | $32,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,378,885 |
| Advertising and promotion | $24,697 |
| Office expenses | $329,894 |
| Information technology | $708,862 |
| Royalties | $0 |
| Occupancy | $592,156 |
| Travel | $19,168 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $117,792 |
| Interest | $11,712,702 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $121,216 |
| Insurance | $206,258 |
| All other expenses | $143,628 |
| Total functional expenses | $36,009,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $82,428,350 |
| Pledges and grants receivable | $3,354,698 |
| Accounts receivable, net | $5,459,391 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $432,706,100 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $637,084 |
| Net Land, buildings, and equipment | $450,959 |
| Investments—publicly traded securities | $77,222,499 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,000,303 |
| Total assets | $609,259,384 |
| Accounts payable and accrued expenses | $4,259,730 |
| Grants payable | $0 |
| Deferred revenue | $11,907,639 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $9,198,575 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $122,300,117 |
| Unsecured mortgages and notes payable | $227,170,530 |
| Other liabilities | $5,213,550 |
| Total liabilities | $380,050,141 |
| Net assets without donor restrictions | $126,684,431 |
| Net assets with donor restrictions | $102,524,812 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $609,259,384 |
Grants Awarded
Over the last fiscal year, Reinvestment Fund Inc has awarded $6,073,634 in support to 130 organizations.
| Grant Recipient | Amount |
|---|---|
ANN KIDS INC PURPOSE: PROVIDING FUNDING TO CHILD CARE PROVIDERS IN PHILADELPHIA | $307,600 |
SMYK MANAGEMENT GROUP LLC PURPOSE: PROVIDING FUNDING TO CHILD CARE PROVIDERS IN PHILADELPHIA | $301,200 |
KINDER ACADEMY DEVELOPMENT ORGANIZATION PURPOSE: PROVIDING FUNDING TO CHILD CARE PROVIDERS IN PHILADELPHIA | $300,000 |
URBAN GIVING TREE LLC PURPOSE: PROVIDING FUNDING TO CHILD CARE PROVIDERS IN PHILADELPHIA | $291,659 |
PEE WEE PREP EDUCATIONAL CENTER INC PURPOSE: PROVIDING FUNDING TO CHILD CARE PROVIDERS IN PHILADELPHIA | $231,782 |
St Paul, MN PURPOSE: FUNDING TO EXPAND OR PRESERVE THE AVAILABILITY OF STAPLE AND PERISHABLE FOODS IN UNDERSERVED AREAS WITH LOW AND MODERATE INCOME POPULATIONS BY MAINTAINING OR INCREASING THE NUMBER OF RETAIL OUTLETS THAT OFFER AN ASSORTMENT OF PERISHABLE AND STAPLE FOODS IN THOSE AREAS | $200,000 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Reinvestment Fund Inc has recieved totaling $2,644,938.
| Awarding Organization | Amount |
|---|---|
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 77145 PROVIDING TECHNICAL ASSISTANCE AND DIRECTION | $814,696 |
William Penn Foundation Philadelphia, PA PURPOSE: ECE BUSINESS SUPPORTS-PLANNING & PILOT | $400,000 |
William Penn Foundation Philadelphia, PA PURPOSE: MATCHING GRANT FOR THE PHILADELPHIA CHILD NUTRITION FUND | $250,000 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 75988 ESTABLISHING THE NEW JERSEY CHILD NUTRITION | $184,859 |
Philadelphia Foundation Philadelphia, PA PURPOSE: PROGRAM EXPENSES | $170,000 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 75452 ACCELERATING LEARNING FROM THE INVEST HEALTH | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Core Services Group Inc Brooklyn, NY | $39,760,197 | $115,882,548 |
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
Brooklyn Navy Yard Development Corporation Brooklyn, NY | $543,633,704 | $68,378,369 |
Cent For Urban Community Svcs New York, NY | $78,734,129 | $72,768,234 |
4mycity Inc Taneytown, MD | $269,763 | $70,588,044 |
The Community Preservation Corporation New York, NY | $1,407,109,282 | $65,839,600 |
Columbia Association Inc Columbia, MD | $168,635,825 | $73,239,829 |
Impact Community Action Columbus, OH | $17,964,278 | $51,062,093 |
Kennedy Krieger Education And Community Services Inc Baltimore, MD | $14,340,565 | $48,121,720 |
Mosaic Community Services Inc Timonium, MD | $34,184,592 | $47,201,258 |
Westchester Community Opportunity Program Inc Elmsford, NY | $7,932,264 | $37,716,573 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |