Refed Inc is located in Long Island City, NY. The organization was established in 2019. According to its NTEE Classification (K99) the organization is classified as: Food, Agriculture & Nutrition N.E.C., under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2022, Refed Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Refed 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 12/2022, Refed Inc generated $5.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 48.0% each year . All expenses for the organization totaled $4.8m during the year ending 12/2022. While expenses have increased by 53.5% per year over the past 5 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 2019, Refed Inc has awarded 53 individual grants totaling $4,226,440. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
REFED IS A NATIONAL NONPROFIT DEDICATED TO ENDING FOOD LOSS AND WASTE ACROSS THE U.S. FOOD SYSTEM BY ADVANCING DATA-DRIVEN SOLUTIONS. OUR VISION IS A SUSTAINABLE, RESILIENT, AND INCLUSIVE FOOD SYSTEM THAT OPTIMIZES ENVIRONMENTAL RESOURCES, MINIMIZES CLIMATE IMPACTS, AND MAKES THE BEST USE OF THE FOOD WE GROW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DATA & INSIGHTS PROGRAM SERVICE ACCOMPLISHMENTS : IN 2022 WE BEGAN BACKEND DEVELOPMENT AND DATA MANAGEMENT EFFORTS TO PREPARE FOR THE FIRST-EVER UPDATE TO THE INSIGHTS ENGINE, THE LEADING SOURCE OF DATA AND INFORMATION ON FOOD LOSS AND WASTE IN THE UNITED STATES. THE POLICY FINDER (A COMPONENT OF THE INSIGHTS ENGINE) WAS UPDATED IN 2022. IT IS A TOOL BEING USED BY POLICY MAKERS AND PUBLIC OFFICIALS AT CITY, STATE, AND REGIONAL LEVELS TO FIND BEST PRACTICES AND INNOVATIVE SOLUTIONS THAT CAN DRIVE FOOD SYSTEM CHANGE WHERE NEEDED. THE INSIGHTS ENGINE HAS HAD 52,000 USERS WITH 871 USE CASES DEMONSTRATING HOW THE TOOL HAS DIRECTED POLICY, GOVERNMENT PLANNING, AND BUSINESS INTERVENTIONS.
DIVERSITY, EQUITY, INCLUSION PROGRAM SERVICE ACCOMPLISHMENTS : CONDUCTED INTERNAL STAFF TRAINING PROGRAMS TO EDUCATE EMPLOYEES ON VARIOUS ASPECTS OF DIVERSITY, EQUITY, INCLUSION AND JUSTICE AND THE WAYS IN WHICH THEY INTERSECT WITH REFED'S WORK ON FOOD WASTE. REFED HIRED ITS FIRST DEIJ FELLOW TO LEAD A YEAR-LONG WORKSTREAM TO CONDUCT A LANDSCAPE ASSESSMENT TO FURTHER INVESTIGATE THESE INTERSECTIONS AND BEGIN WORK ON A PUBLIC REPORT. STAFF ALSO CONDUCTED THE FIRST HALF OF AN INTERNAL DEIJ ASSESSMENT TO IDENTIFY OPPORTUNITIES FOR GREATER INTEGRATION OF DEIJ WORK INTO THE ORGANIZATION'S INTERNAL POLICIES AND PROCESSES AND EXTERNAL-FACING PROGRAMMING AND STRATEGIES.
CAPITAL, INNOVATION, & ENGAGEMENT PROGRAM SERVICE ACCOMPLISHMENTS : CAPITAL & INNOVATION LAUNCHED THE CAPITAL TRACKER, PROVIDED MONTHLY DEAL FLOW REPORTS AND ANALYSES OF FUNDING OPPORTUNITIES TO SCALE SOLUTIONS, AND LAUNCHED OUR FOOD WASTE FUNDER CIRCLE. THE CAPITAL TRACKER IS BEING USED BY INVESTORS TO SEE WHERE THERE ARE OPPORTUNITIES THAT CAN FILL GAPS TO ADDRESS FOOD LOSS AND WASTE AS A BUSINESS PROPOSITION, AND WE HAVE TRACKED MORE THAN $888M IN DEAL FLOW TO DATE. THE FOOD WASTE FUNDER CIRCLE HOSTED NINE PITCH EVENTS FEATURING THREE COMPANIES EACH, REACHING 144 FOOD WASTE FUNDER CIRCLE MEMBERS (FWFC). MOST NOTABLY WE ESTABLISHED OUR CATALYTIC GRANT FUND THAT DIRECTS PHILANTHROPIC FUNDS TO ORGANIZATIONS OFFERING THE PROMISE OF FOOD LOSS AND WASTE REDUCTION. THE FIRST OPEN CALL OF THE CATALYTIC GRANT FUND IN NOVEMBER 2022 RECEIVED GRANT APPLICATIONS IN EXCESS OF $99M FROM 270 ORGANIZATIONS.
BUSINESS INITIATIVES PROGRAM SERVICE ACCOMPLISHMENTS : WE LAUNCHED A BUSINESS ENGAGEMENT SUITE OF SERVICES AND WITNESSED REAL FOOD LOSS AND WASTE REDUCTIONS IN OUR PACIFIC COAST FOOD WASTE COMMITMENT, A PRIVATE-PUBLIC PARTNERSHIP FOCUSED ON FOOD LOSS AND WASTE, AND ENGAGED IN STATE AND FEDERAL POLICY ADVISEMENT. OUR BUSINESS ENGAGEMENT SERVICES WORKED WITH ITS FIRST FIVE PILOT COMPANIES, REPRESENTING REGIONAL AND NATIONAL RETAILERS. THE PACIFIC COAST FOOD WASTE COMMITTMENT REPRESENTS 15 BUSINESS SIGNATORIES ACTIVELY, INCLUDING 51% OF WEST COAST FOOD RETAILERS. THE PROJECT RAN PILOTS OF DIFFERENT FOOD WASTE INTERVENTIONS AND PUBLISHED PUBLIC CASE STUDIES WITH SEVERAL OF THE PARTICIPATING SIGNATORIES. WE ALSO COMPLETED PILOT TESTING OF A CUSTOM DATA REPORTING AND ANALYTICS TOOL TO BE FURTHER DEVELOPED AND ROLLED OUT TO BUSINESSES IN 2023.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Pamela Murphy Chair, Board Of Directors | OfficerTrustee | 2 | $0 |
Steven Swartz Treasurer, Board Of Directors | OfficerTrustee | 2 | $0 |
Emily MA Secretary, Board Of Directors | OfficerTrustee | 2 | $0 |
Yalmaz Siddiqui Member, Board Of Directors | Trustee | 2 | $0 |
Charles C Savitt Member, Board Of Directors | Trustee | 2 | $0 |
Stacey G Koehnke Member, Board Of Directors | Trustee | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Juniata Analytics Data Analytics And Software Engineering | 12/30/22 | $178,209 |
Vizzuality Web Development | 12/30/22 | $112,168 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $5,277,223 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $5,277,223 |
Total Program Service Revenue | $206,159 |
Investment income | $334 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $5,483,716 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $265,000 |
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. | $288,830 |
Compensation of current officers, directors, key employees. | $57,766 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,937,644 |
Pension plan accruals and contributions | $57,260 |
Other employee benefits | $278,599 |
Payroll taxes | $180,493 |
Fees for services: Management | $0 |
Fees for services: Legal | $41,339 |
Fees for services: Accounting | $79,800 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $1,069,186 |
Advertising and promotion | $0 |
Office expenses | $201,644 |
Information technology | $51,610 |
Royalties | $0 |
Occupancy | $45,665 |
Travel | $177,153 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $163,580 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $2,499 |
All other expenses | $0 |
Total functional expenses | $4,840,302 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $876,835 |
Savings and temporary cash investments | $835,590 |
Pledges and grants receivable | $2,047,500 |
Accounts receivable, net | $54,088 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $51,828 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $22,590 |
Total assets | $3,888,431 |
Accounts payable and accrued expenses | $227,517 |
Grants payable | $0 |
Deferred revenue | $76,010 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $303,527 |
Net assets without donor restrictions | $1,790,431 |
Net assets with donor restrictions | $1,794,473 |
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 | $3,888,431 |
Over the last fiscal year, Refed Inc has awarded $265,000 in support to 4 organizations.
Grant Recipient | Amount |
---|---|
FOOD RECOVERY NETWORK PURPOSE: EXPANSION OF THE FOOD RECOVERY NETWORK | $100,000 |
HIDDEN GEMS BEVERAGE COMPANY PURPOSE: ADVANCE THE UPCYCLED USE OF THE AVOCADO SEED | $50,000 |
UPCYCLED FOOD FOUNDATION PURPOSE: ADVANCE UPCYCLED MARKETING STRATEGIES | $100,000 |
CAVA MEZZE GRILL PURPOSE: SUPPORT HOSTING OF EDFCC SUMMER FELLOW | $15,000 |