REFED INC

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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

2018

Legal Domicile

Principal Officer

DANA GUNDERS RIVERO

Phone

5129472176

Tax Period

2024-01-01 to 2024-12-31

REFED INC, founded in 2018, is a mid-sized nonprofit in the Food, Agriculture & Nutrition sector that reported $13.2M in total revenue in fiscal year 2024. The organization ran a surplus of $4.6M, a strong 35% operating margin.

Mission

REFED CATALYZES THE FOOD SYSTEM TOWARD EVIDENCE-BASED ACTION TO STOP WASTING FOOD FOR THE CLIMATE, ENVIRONMENT, PEOPLE, AND THE ECONOMY.

Program Service Accomplishments

Program 1

Expenses: $2,457,234 Revenue: $0

CAPITAL & INNOVATION PROGRAM SERVICE ACCOMPLISHMENTS:REFED'S CAPITAL & INNOVATION DIVISION CONTINUED TO FUND AND UNLOCK ADDITIONAL OPPORTUNITIES FOR ADVANCING SOLUTIONS TO FOOD WASTE THROUGH THE...

CAPITAL & INNOVATION PROGRAM SERVICE ACCOMPLISHMENTS:REFED'S CAPITAL & INNOVATION DIVISION CONTINUED TO FUND AND UNLOCK ADDITIONAL OPPORTUNITIES FOR ADVANCING SOLUTIONS TO FOOD WASTE THROUGH THE CATALYTIC GRANT FUND. TO DATE THE FUND HAS UNLOCKED AT LEAST $30M IN FUNDING FOR ITS PORTFOLIO OF GRANTEES REPRESENTING A 15X IMPACT OF REFED'S INITIAL GRANT INVESTMENT. IN WORKING DIRECTLY WITH CAPITAL PROVIDERS AND THOSE SEEKING CAPITAL, REFED CURATED 17 CONNECTIONS LEADING TO FUNDING. MORE BROADLY, WE IDENTIFIED AND PROMOTED 132 FUNDING OPPORTUNITIES VALUED AT OVER $240M THROUGH DEAL FLOW REPORTS.

Program 2

Expenses: $1,956,370

DATA & INSIGHTS PROGRAM SERVICE ACCOMPLISHMENTS:REFED'S INSIGHTS ENGINE HAS NOW REACHED OVER 195,000 UNIQUE VISITORS AND THE ORGANIZATION HAS DOCUMENTED NEARLY 3,000 MEANINGFUL USE CASES OF...

DATA & INSIGHTS PROGRAM SERVICE ACCOMPLISHMENTS:REFED'S INSIGHTS ENGINE HAS NOW REACHED OVER 195,000 UNIQUE VISITORS AND THE ORGANIZATION HAS DOCUMENTED NEARLY 3,000 MEANINGFUL USE CASES OF STAKEHOLDERS ENGAGING WITH AND APPLYING THE DATA AND INSIGHTS SHARED WITHIN. REFED ALSO MIGRATED ITS DATA COLLECTION CAPABILITIES TO A WEB-BASED APPLICATION IN ORDER TO STREAMLINE FOOD BUSINESS DATA REPORTING, ENHANCE SECURITY CAPABILITIES, AND INCREASE DATA PROCESSING EFFICIENCIES. REFED ALSO ADVANCED NEW RESEARCH TO ENHANCE OUR UNDERSTANDING OF FOOD WASTE AND RELATED SOLUTIONS IN METHANE EMISSION FACTORS, PRODUCTION LOSSES IN BEEF AND DAIRY, ENHANCED SOLUTION MODELING IN THE MANUFACTURING SECTOR, AND WHOLE SUPPLY CHAIN ANALYSES OF BEEF, YOGURT, POTATOES, STRAWBERRIES, PLUMS, AND BANANAS.

Program 3

Expenses: $1,885,722 Revenue: $398,215

BUSINESS INITIATIVES PROGRAM SERVICES ACCOMPLISHMENTS:REFED NOTABLY EXPANDED THE MEMBERSHIP AND ACTIVITIES OF THE U.S. FOOD WASTE PACT, A NATIONAL VOLUNTARY AGREEMENT DESIGNED TO HELP...

BUSINESS INITIATIVES PROGRAM SERVICES ACCOMPLISHMENTS:REFED NOTABLY EXPANDED THE MEMBERSHIP AND ACTIVITIES OF THE U.S. FOOD WASTE PACT, A NATIONAL VOLUNTARY AGREEMENT DESIGNED TO HELP WASTE-GENERATING BUSINESSES ACROSS THE FOOD SYSTEM TO ACCELERATE PROGRESS TOWARD THEIR SUSTAINABILITY GOALS. MEMBERSHIP NOW INCLUDES FOOD BUSINESSES FROM RETAIL, FOOD SERVICE, MANUFACTURING, AND QSR SECTORS, INCLUDING REPRESENTING OVER 60% OF THE U.S. RETAIL MARKET SHARE AS MEASURED BY RETAIL SALES. REFED ALSO CONTINUED TO PROVIDE CLIENT-FACING SERVICES TO INDIVIDUAL FOOD BUSINESSES, HELPING TO ALIGN FOOD WASTE REDUCTION, SUSTAINABILITY, AND OPERATIONAL STRATEGIES. IN TOTAL, REFED ENGAGED 46 BUSINESSES ACROSS THE YEAR.

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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 $12,528,491

Program Service Revenue $398,215

Investment Income $295,732

Other Revenue $0

TOTAL REVENUE $13,222,438

Expense Breakdown

Grants Paid $1,236,346

Salaries & Benefits $3,954,669

Fundraising Expenses $500,441

Program Expenses $6,720,048

Other Expenses $3,439,089

TOTAL EXPENSES $8,630,104

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,222,438	$12,394,783	+0.1%
Expenses	$8,630,104	$6,268,073	+0.4%
Net Income	$4,592,334	$6,126,710	-0.3%

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

$504,346

Total Directors

Key Employees

$415,107

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAMELA MURPHY	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
EMILY MA	SECRETARY	2.00	Officer Director	$0	$0	$0
STEVEN SWARTZ	TREASURER	2.00	Officer Director	$0	$0	$0
SHASHANK MOHAN	DIRECTOR	2.00	Director	$0	$0	$0
IDA POSNER	DIRECTOR	2.00	Director	$0	$0	$0
JEFFREY RHODES	DIRECTOR	2.00	Director	$0	$0	$0
EDUARDO ROMERO	DIRECTOR	2.00	Director	$0	$0	$0
CHARLES C SAVITT	DIRECTOR	2.00	Director	$0	$0	$0
YALMAZ SIDDIQUI	DIRECTOR	2.00	Director	$0	$0	$0
KATHERINE SILVERTHORNE	DIRECTOR	2.00	Director	$0	$0	$0
JACK PESTELLO	DIRECTOR	2.00	Director	$0	$0	$0
WENDY SLUSSER	DIRECTOR	2.00	Director	$0	$0	$0
JANINE GUILLOT	DIRECTOR	2.00	Director	$0	$0	$0
DANA GUNDERS RIVERO	PRESIDENT	40.00	Officer	$258,107	$39,443	$297,550
SHAWN SHEPHERD	VP, OPERATIONS & FINANCE	40.00	Officer	$187,603	$19,193	$206,796
ASCH HARWOOD	VP, DATA & INSIGHTS	40.00	Key Emp	$168,736	$49,726	$218,462
ALEXANDRIA COARI	VP, CAPITAL, INNOVATION & GLOBAL INITIATIVES	40.00	Key Emp	$178,738	$17,907	$196,645
JACQUELINE SUGGITT	VP, BUSINESS INITIATIVES & COMMUNITY ENGAGEMENT	40.00	Highest	$132,200	$16,046	$148,246
DINA SINCLAIR	DIRECTOR OF ENGINEERING	40.00	Highest	$135,708	$4,260	$139,968
TRAVIS WRIGHT	VP, PRODUCT	40.00	Highest	$127,332	$9,446	$136,778
KATHLEEN FRANKLIN	DIRECTOR OF FINANCE & ADMINISTRATION	40.00	Highest	$138,097	$28,326	$166,423
JEFFREY COSTANTINO	COMMUNICATIONS DIRECTOR	40.00	Highest	$148,582	$19,420	$168,002

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	$13,222,438	$8,630,104	$15,218,674	$4,592,334
2023	$12,394,783	$6,268,073	$10,012,463	$6,126,710
2022	$5,483,716	$4,840,302	$3,888,431	$643,414
2021	$3,044,504	$2,920,683	$3,245,213	$123,821
2020	$8,527,595	$6,828,707	$3,525,220	$1,698,888
2019	$4,376,307	$3,468,379	$1,591,533	$907,928