Redf Impact Investing Fund
- Assets
- $5.0m
- Revenue
- $120.6k
- Investments
- $0.0
- Employees
- 0
- Location
- San Francisco, CA
- Founding
- 01/2020
- Data as of
- 12/2021
- EIN
- 84-2301234
Organization Overview
Redf Impact Investing Fund is located in San Francisco, CA. The organization was established in 2020. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Redf Impact Investing Fund 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, Redf Impact Investing Fund generated $120.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (55.0%) each year. All expenses for the organization totaled $136.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
REDF IMPACT INVESTING FUND ("RIIF")'S MISSION IS TO PROVIDE FINANCING FOR EMPLOYMENT-FOCUSED SOCIAL ENTERPRISES AND BUSINESSES THAT EMPLOY AND SUPPORT INDIVIDUALS WHO FACE EMPLOYMENT BARRIERS SUCH AS EXPERIENCES OF HOMELESSNESS, INCARCERATION, ADDICTION AND MENTAL HEALTH ISSUES, AND YOUTH DISCONNECTED FROM SCHOOL AND WORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFTER MORE THAN 20 YEARS OF PROVIDING GRANTS AND ADVISORY SERVICES TO EMPLOYMENT-FOCUSED SOCIAL ENTERPRISES, REDF LAUNCHED REDF IMPACT INVESTING FUND (RIIF) IN 2019 TO ADD AN IMPORTANT TOOL TO ACCELERATE THE GROWTH OF EMPLOYMENT SOCIAL ENTERPRISES. AS THE SOCIAL ENTERPRISE FIELD MATURES, SO DOES THE NEED TO ACCESS FLEXIBLE CAPITAL TO GROW, CAPITALIZE ON NEW OPPORTUNITIES, AND BETTER SERVE EMPLOYEES.THE OBJECTIVE OF THE FINANCING IS TO SUPPORT THESE ORGANIZATIONS TO DEVELOP ENTREPRENEURIAL AND MANAGEMENT SKILLS NECESSARY TO GROW BUSINESS REVENUE AND INCREASE EMPLOYMENT OF PEOPLE FACING BARRIERS. RIIF SEEKS TO DEMONSTRATE THE CREDITWORTHINESS OF THESE EMPLOYMENT-FOCUSED SOCIAL ENTERPRISES AND ASSIST ORGANIZATIONS IN OBTAINING SUBSEQUENT CAPITAL INVESTMENTS FROM OTHER SOURCES.RIIF IS DEMONSTRATING A MODEL FOR HOW FLEXIBLE LOAN TERMS, COMBINED WITH TECHNICAL ASSISTANCE, CAN IMPROVE BORROWER PERFORMANCE AND ATTRACT NEW SOURCES OF CAPITAL TO EMPLOYMENT SOCIAL ENTERPRISES. RIIF LOANS ARE LOW-COST AND/OR LONG-TERM LOANS THAT REQUIRE LESS SECURITY THAN TYPICAL IMPACT INVESTMENTS OR TRADITIONAL LOANS AND ARE ACCOMPANIED BY TECHNICAL ASSISTANCE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stuart Davidson Secretary | OfficerTrustee | 1 | $0 |
Phil Estes Treasurer | OfficerTrustee | 1 | $0 |
Lewis Byrd Board Chair | OfficerTrustee | 1 | $0 |
Carrie Mckellogg CEO | Officer | 8 | $0 |
Financial Statements
| 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 | $1,587 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,587 |
| Total Program Service Revenue | $0 |
| Investment income | $119,005 |
| 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 | $120,592 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $62,300 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $200 |
| Interest | $64,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $136,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,294,547 |
| Pledges and grants receivable | $62,500 |
| Accounts receivable, net | $49,919 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,581,533 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,988,499 |
| Accounts payable and accrued expenses | $64,000 |
| Grants payable | $0 |
| Deferred revenue | $125,250 |
| 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 | $2,736,790 |
| Other liabilities | $0 |
| Total liabilities | $2,926,040 |
| Net assets without donor restrictions | $2,062,459 |
| Net assets with donor restrictions | $0 |
| 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 | $4,988,499 |
Grants Awarded
Over the last fiscal year, Redf Impact Investing Fund has awarded $100,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE TOWN KITCHEN PURPOSE: Strategic | $50,000 |
Atlanta, GA PURPOSE: Strategic | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Redf Impact Investing Fund has recieved totaling $121,000.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Community Development | $121,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Thunderbirds Phoenix, AZ | $33,696,955 | $84,390,943 |
California Travel And Tourism Commission Sacramento, CA | $86,955,324 | $75,852,594 |
Semi Milpitas, CA | $100,332,447 | $57,588,828 |
San Diego County Capital Asset Leasing Corporation San Diego, CA | $104,250,616 | $41,735,289 |
Western States Petroleum Association Sacramento, CA | $8,481,739 | $30,827,581 |
Iapmo Research And Testing Inc Ontario, CA | $11,214,766 | $46,736,492 |
Specialty Equipment Market Association Diamond Bar, CA | $151,136,909 | $20,614,542 |
California Dental Association Sacramento, CA | $252,495,901 | $15,890,513 |
Chinatown Service Center Los Angeles, CA | $26,778,687 | $27,867,616 |
Sag-Aftra & Industry Sound Recordings Distribution Fund Valley Village, CA | $48,142,351 | $13,604,136 |
Electric & Gas Industries Association Sacramento, CA | $14,735,713 | $15,175,016 |
American Pistachio Growers Fresno, CA | $11,494,323 | $15,365,842 |