REDF IMPACT INVESTING FUND

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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

2019

Legal Domicile

Principal Officer

CARRIE MCKELLOGG

Phone

4155616677

Tax Period

2024-01-01 to 2024-12-31

REDF IMPACT INVESTING FUND, founded in 2019, is a community nonprofit in the Community Improvement sector that reported $1.8M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $813K, a strong 45% operating margin.

Mission

REDF IMPACT INVESTING FUND (RIIF) INVESTS IN AND PROVIDES CAPACITY BUILDING EXPERTISE TO EMPLOYMENT SOCIAL ENTERPRISES (ESES)--BUSINESSES THAT SEEK FINANCIAL RESULTS AND CREATE JOBS, STABILITY AND ECONOMIC MOBILITY FOR PEOPLE OVERCOMING THE TOUGHEST BARRIERS TO EMPLOYMENT, OFTEN INCLUDING HISTORIES OF HOMELESSNESS, INCARCERATION, SUBSTANCE USE, DOMESTIC VIOLENCE, HUMAN TRAFFICKING, OR LONG-TERM DISCONNECTION FROM WORK.

Program Service Accomplishments

Program 1

Expenses: $931,181 Revenue: $275,890

RIIF PROVIDES BOTH FLEXIBLE CAPITAL AND CAPACITY BUILDING EXPERTISE TO HELP EMPLOYMENT-FOCUSED BUSINESSES GROW, STRENGTHEN OPERATIONS, AND ATTRACT FOLLOW-ON INVESTMENT. IT UNDERWRITES BASED ON CASH FLOW RELIABILITY, CONTRACT-BACKED REVENUE, AND MANAGEMENT CAPACITY--PROVIDING A PRACTICAL PATH TO CAPITAL ACCESS FOR BUSINESSES THAT MAY NOT MEET TRADITIONAL CREDIT STANDARDS DUE TO LIMITED COLLATERAL, THIN CREDIT HISTORIES, OR IRREGULAR CASH FLOWS. CAPACITY BUILDING EXPERTISE IS DELIVERED IN PARTNERSHIP WITH OUR GRANTING AFFILIATE REDF, LEVERAGING MORE THAN 25 YEARS OF EXPERIENCE WORKING WITH EMPLOYMENT SOCIAL ENTERPRISES (ESES) ACROSS SECTORS AND GROWTH STAGES.RIIF EMPLOYS A COMPREHENSIVE AND DISCIPLINED RISK MANAGEMENT APPROACH TO PROTECT ITS PORTFOLIO WHILE MEETING THE CAPITAL NEEDS OF ITS BORROWERS. RIIF ACTIVELY USES COLLATERALIZATION STRATEGIES, STATE-SPONSORED GUARANTEE PROGRAMS (SUCH AS THOSE SUPPORTED BY THE STATE SMALL BUSINESS CREDIT INITIATIVE), AND LOAN PARTICIPATIONS TO SHARE AND DIVERSIFY EXPOSURE. CREDIT DECISIONS ARE GOVERNED BY A FORMAL RISK RATING SYSTEM, AND RIIF IS STEADILY BUILDING LOAN LOSS RESERVES IN LINE WITH CURRENT EXPECTED CREDIT LOSS (CECL) PRINCIPLES TO ENSURE LOSS ABSORPTION CAPACITY AND FINANCIAL POSITION STRENGTH.RIIF IS CERTIFIED AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) BY THE U.S. DEPARTMENT OF THE TREASURY, A DESIGNATION THAT AFFIRMS ITS COMMITMENT TO EXPANDING ACCESS TO CAPITAL FOR SMALL AND MIDSIZE BUSINESSES OUTSIDE TRADITIONAL FINANCIAL CHANNELS. CDFI CERTIFICATION ENHANCES RIIF'S VISIBILITY AND CREDIBILITY WITH KEY CAPITAL PROVIDERS IN THE PRIVATE SECTOR, INCLUDING FINANCIAL INSTITUTIONS INCENTIVIZED BY THE COMMUNITY REINVESTMENT ACT (CRA).

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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 $1,447,316

Program Service Revenue $275,890

Investment Income $74,099

Other Revenue $0

TOTAL REVENUE $1,797,305

Expense Breakdown

Grants Paid $25,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $931,181

Other Expenses $959,190

TOTAL EXPENSES $984,190

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,797,305	$1,644,969	+0.1%
Expenses	$984,190	$657,327	+0.5%
Net Income	$813,115	$987,642	-0.2%

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

N/A

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

$569,355

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEWIS BYRD	CHAIR THROUGH 6/2024	1.00	Officer Director	$0	$0	$0
PHILLIP ESTES	TREAS THRU 6/2024/CHAIR START 7/2024	1.00	Officer Director	$0	$0	$0
STUART DAVIDSON	SECRETARY	1.00	Officer Director	$0	$0	$0
TERRY ING	TREASURER START 7/2024	1.00	Officer Director	$0	$0	$0
CEDRIC D THURMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
CARRIE MCKELLOGG	CHIEF EXECUTIVE OFFICER	24.00	Officer	$264,857	$47,795	$312,652
PETER LIPPMAN	CHIEF FINANCIAL OFFICER	24.00	Officer	$224,654	$32,049	$256,703

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	$1,797,305	$984,190	$15,421,001	$813,115
2023	$1,644,969	$657,327	$11,078,374	$987,642
2022	$248,525	$511,729	$9,088,027	$-263,204
2021	$120,592	$136,003	$4,988,499	$-15,411
2020	$508,035	$300,543	$3,892,585	$207,492
2019	$1,320,429	$124,594	$2,316,604	$1,195,835