Reinvestment Fund Inc
- Assets
- $669.6m
- Revenue
- $78.0m
- Investments
- $0.0
- Employees
- 112
- Location
- Philadelphia, PA
- Founding
- 09/1985
- Data as of
- 12/2023
- 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 12/2023, Reinvestment Fund Inc employed 112 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 12/2023, Reinvestment Fund Inc generated $78.0m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $51.3m during the year ending 12/2023. While expenses have increased by 7.8% per year over the past 9 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 1,119 individual grants totaling $67,987,533. 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
2023
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: 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.
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.
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.
CAPACITY BUILDING & CAPITAL ACCESS: USES GRANTS AND TECHNICAL ASSISTANCE TO MAKE ACCESS TO CAPITAL MORE EQUITABLE FOR LOW-WEALTH INDIVIDUALS AND COMMUNITIES, PARTICULARLY IN THE AREAS OF EARLY CHILDHOOD EDUCATION, FOOD AND SOCIAL DETERMINANTS OF HEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Saul Behar Board Chair, Compensation Committee | OfficerTrustee | 3 | $0 |
Cynthia Figueroa Board Member | Trustee | 1.5 | $0 |
Daniel Hayes Board Member | Trustee | 2 | $0 |
Dudley Benoit Board Member, Finance Committee Chair | OfficerTrustee | 1.5 | $0 |
Ivy Carter-Dench Board Member | Trustee | 1.5 | $0 |
Kathy O'regan Board Member | Trustee | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dataoptics Operations/implementation Consultant | 12/30/23 | $275,550 |
Rsm Us Llp Auditing/tax Services | 12/30/23 | $294,337 |
Computer Design & Integration Llc It Infrastructure/consultant | 12/30/23 | $268,005 |
Jl Hr Solutions Llc Hr/leadership Consultant | 12/30/23 | $126,759 |
Nvg Llc Consultant | 12/30/23 | $204,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $19,799,314 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,477,155 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,276,469 |
| Total Program Service Revenue | $35,403,711 |
| Investment income | $2,691,477 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$164,476 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,044,764 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,057,654 |
| 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. | $3,332,399 |
| Compensation of current officers, directors, key employees. | $1,518,134 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,204,578 |
| Pension plan accruals and contributions | $780,670 |
| Other employee benefits | $2,071,211 |
| Payroll taxes | $861,973 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $89,195 |
| Fees for services: Accounting | $363,390 |
| Fees for services: Lobbying | $204,000 |
| Fees for services: Fundraising | $108,576 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,446,319 |
| Advertising and promotion | $89,591 |
| Office expenses | $363,293 |
| Information technology | $1,234,906 |
| Royalties | $0 |
| Occupancy | $651,795 |
| Travel | $180,822 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $516,182 |
| Interest | $11,395,372 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $133,006 |
| Insurance | $233,638 |
| All other expenses | $63,449 |
| Total functional expenses | $51,306,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $99,975,973 |
| Pledges and grants receivable | $3,905,444 |
| Accounts receivable, net | $6,338,579 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $489,071,835 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $734,532 |
| Net Land, buildings, and equipment | $806,045 |
| Investments—publicly traded securities | $56,575,073 |
| Investments—other securities | $0 |
| Investments—program-related | $6,104,727 |
| Intangible assets | $1,474,238 |
| Other assets | $4,624,022 |
| Total assets | $669,610,468 |
| Accounts payable and accrued expenses | $3,265,290 |
| Grants payable | $0 |
| Deferred revenue | $9,072,564 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,892,664 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $105,511,325 |
| Unsecured mortgages and notes payable | $266,168,894 |
| Other liabilities | $5,801,926 |
| Total liabilities | $392,712,663 |
| Net assets without donor restrictions | $158,438,573 |
| Net assets with donor restrictions | $118,459,232 |
| 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 | $669,610,468 |
Grants Awarded
Over the last fiscal year, Reinvestment Fund Inc has awarded $14,554,313 in support to 159 organizations.
| Grant Recipient | Amount |
|---|---|
COLUMINATE 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 | $19,755 |
DEVELOP DETROIT INC 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 |
DEKALB BRILLIANCE ACADEMY INC PURPOSE: SUPPORT CHARTER SCHOOLS INTERESTED IN DEVELOPING INSTITUTIONAL COMMITMENTS RELATED TO RACIAL EQUITY THAT WOULD WORK TO REDUCE ACADEMIC ACHIEVEMENT DISPARITIES ALONG THE LINES OF RACE | $19,975 |
DIXON COOPERATIVE MARKET 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 | $34,384 |
EAST LANSING FOOD CO-OPERATIVE INC 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 |
EAST AFRICAN GROCERY LLC 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 | $127,513 |