ReUse Works Ragfinery

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Phone

3607386977

Tax Period

2024-01-01 to 2024-12-31

ReUse Works Ragfinery, founded in 2004, is a small nonprofit in the Employment sector that reported $576K in total revenue in fiscal year 2024. Revenue surged 48% from the prior year, signaling strong growth momentum.

Mission

Provide job training, jobs, and economic development opportunities; reuse and recycle post-consumer textiles.

Program Service Accomplishments

Program 1

Expenses: $507,766 Revenue: $262,415

Ragfinery is a job training businesses that salvages and repurposes post-consumer textiles. It supports jobs and job training while educating the community about textile waste reduction and keeping...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $297,006

Program Service Revenue $262,415

Investment Income $7,105

Other Revenue $9,252

TOTAL REVENUE $575,778

Expense Breakdown

Grants Paid $0

Salaries & Benefits $263,544

Fundraising Expenses $34,838

Program Expenses $507,766

Other Expenses $324,301

TOTAL EXPENSES $587,845

Year-over-Year Comparison

	2024	2023	Change
Revenue	$575,778	$389,622	+0.5%
Expenses	$587,845	$341,861	+0.7%
Net Income	$-12,067	$47,761	-1.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Madeline Rosenvinge	President	3.00	Officer Director	$0	$0	$0
Abbie Lindenberg	Vice President	2.00	Officer Director	$0	$0	$0
Delaney Skordal	Secretary	2.00	Officer Director	$0	$0	$0
Marlene Orlick	Director	1.00	Director	$0	$0	$0
Enid Wilson	Director	1.00	Director	$0	$0	$0
Holly Littlefield	Director	1.00	Director	$0	$0	$0
Ellie Price	Director	1.00	Director	$0	$0	$0
Jill Clark	Director	1.00	Director	$0	$0	$0
Katie Franks	Director	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$575,778	$587,845	$293,897	$-12,067
2023	$389,622	$341,861	$302,515	$47,761
2022	$349,011	$319,059	$251,259	$29,952
2021	$313,273	$220,917	$220,626	$92,356
2020	$297,991	$244,347	$117,430	$53,644
2019	$687,093	$685,542	$214,780	$1,551