PLATINUM2023

REDF

An Investment That Works

aka The Roberts Enterprise Development Fund   |   San Francisco, CA   |  www.redf.org
GuideStar Charity Check

REDF

EIN: 54-2132153


Mission

REDF invests in businesses that reveal and reinforce the talent of people breaking through barriers to employment. We partner with social entrepreneurs —providing capital, capacity, and community—to amplify the success of their businesses and the people they employ. 

Ruling year info

2004

President & CEO

Maria Kim

CFAO

David Samuels

Main address

150 Sutter Street 267

San Francisco, CA 94104 USA

Show more contact info

EIN

54-2132153

Subject area info

Job training

Job retraining

Job creation and workforce development

Entrepreneurship

Social enterprise

Show more subject areas

Population served info

Ethnic and racial groups

Economically disadvantaged people

Incarcerated people

At-risk youth

People with disabilities

Show more populations served

NTEE code info

Management & Technical Assistance (J02)

Nonprofit Management (S50)

Research Institutes and/or Public Policy Analysis (W05)

What we aim to solve

SOURCE: Self-reported by organization

For people who have had experiences with the justice system, homelessness, mental illness, or addiction, the path to a quality job in this already difficult job market can seem insurmountable— despite having the talent and desire to contribute to the economy. REDF and its employment social enterprise partners across the United States are focused on a solution at the core of this crisis—access to jobs and income. Many of the inspiring entrepreneurs who lead the enterprises are people of color and those who share the life experiences of the people they employ. With a 20+ year track record of results achieved in partnership with these visionary entrepreneurs and the support of committed contributors, we are implementing a bold plan—working to build a thriving and inclusive economy where all people have the jobs and the support they need to realize their full potential.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Growth Portfolio

Through our national Growth Portfolio, we invest in employment social enterprises at an inflection point – where capital and capacity can propel them to the next level of impact.

With three years of unrestricted grant funding and tailored capacity building support, we partner with these mission-driven businesses to realize ambitious goals and drive sustainable growth.

REDF is firmly committed to advancing equity through our investments and programs. Nearly 40% of the businesses in the Growth Portfolio are led by people of color and nearly 40% are led by people with lived experience. The perspectives these entrepreneurs bring to the work helps drive innovation, impact, and results.

Population(s) Served
Unemployed people
Incarcerated people

Described as a “mini-MBA,” the REDF Accelerator is a five-month, hands-on program designed to equip social enterprise leaders with the connections, skills, and tools to grow their enterprises and increase the number of meaningful jobs they create.

During this highly interactive five-month program, ESE Leaders work alongside their peers to learn and put into practice the methods, skills, and tools needed to achieve big goals and reach key milestones. And there’s no fee to participate.

The benefits don’t end after those five months―once the ESE Leaders have successfully completed the REDF Accelerator, they receive a $20,000 grant to implement some of the high-impact lessons learned during the Accelerator. They also become part of the REDFs Community of 150+ leading employment social enterprises located around the country, gaining access to additional skill-building resources, capacity building from the REDF team, and the opportunity to continue to learn alongside their peers.

Population(s) Served
Unemployed people
Incarcerated people

Los Angeles Regional Initiative for Social Enterprise (LA:RISE) is an innovative partnership that unites the City and County of Los Angeles workforce agencies with employment social enterprises to help people overcoming high employment barriers get jobs, stay employed, and build a better life. LA:RISE connects employment social enterprises to the workforce system, supportive services, and employers, allowing all partners to bring their expertise and resources to the table.

Now in its eighth year, LA:RISE has expanded from 10 to 40 partners across the County of Los Angeles and provided transitional employment to over 6,000 Angelenos.

Population(s) Served

In response to demand from our ESE partners, REDF launched its Impact Lending Practice in 2017 to provide an important tool to accelerate the growth of the field. REDF 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.

The REDF Impact Investing Fund (RIIF) is a 501(c)(3) debt fund, and certified CDFI, that provides loan capital and technical assistance to nonprofit and for-profit employment social enterprises. RIIF supports borrowers to improve their financial sustainability and strengthen their businesses so they can employ and empower more individuals striving to chart a new course in life.

Population(s) Served

REDF delivers customized capacity building support alongside our capital investments and community-building work to amplify the success of our partners. We work side-by-side with social enterprises to evaluate opportunities for growth and create tailored technical assistance workplans that support each organization as it navigates the critical balance between profit and purpose, scale and sustainability.

With REDF’s advice and support, the businesses we partner with are equipped with the tools to increase their impact – employing almost 10,000 people every year.

Population(s) Served

Over 20 years ago, REDF’s Vice-Chair, Stuart Davidson, had an insight – that the then-nascent employment social enterprise field needed a unique type of leader to reach its potential – one with cutting-edge business skills and a passion to use those skills to improve society. We developed the Farber program to find them, mentor them, and provide these socially-minded young professionals an unparalleled opportunity to make an impact.

Since then, the program has introduced 187 MBA students from the country’s top business schools to the employment social enterprise field. Farbers spend the summer working on mission-critical projects for REDF’s national network of employment social enterprise grantees and borrowers. The experience is transformative, offering the chance to work with both social enterprise staff and REDF’s Portfolio team on a strategic project that will impact the enterprises, and the people they serve, for years to come.

Population(s) Served

REDF Community creates space and provides resources to help our social enterprise partners and their staff connect, grow, and lead. As part of this program, REDF is making a conscious effort to ensure that enterprises led by people of color and those with relevant lived experience are included, invested in, and supported.

Today, there are over 180 employment social enterprises from around the country that make up the REDF Community and receive the following benefits:

- Community & relationship building via regular convenings, workshops, site visits, and affinity groups.
- Technical assistance with tools & resources including skill-building resources and capacity building from the REDF team.
- Ongoing relationship support from a dedicated Alumni Relations Manager who ensures that partners are connecting to available resources.

Population(s) Served

As the economy emerges from the pandemic, the public and private sector must work together to build an inclusive and equitable economic recovery. Through effective policy-making, partnerships, and government investment in employment social enterprises, we can ensure that all people have the opportunity to work and thrive.

REDF plays a key role in making this collaboration a reality – developing impactful public-private partnerships and influencing policy at the federal and state levels to promote public investment in employment social enterprises.

Through our Government Partnerships and Policy work, we aim to grow and strengthen the national field of employment social enterprises – and increase economic mobility for their employees.

Population(s) Served
Unemployed people
Incarcerated people
Unemployed people
Incarcerated people
Unemployed people
Incarcerated people
Unemployed people
Incarcerated people
Unemployed people
Incarcerated people
Unemployed people
Incarcerated people

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Additional revenue and wages generated attributable to the organization's efforts

This metric is no longer tracked.
Totals By Year
Population(s) Served

Homeless people, Incarcerated people, At-risk youth

Related Program

Growth Portfolio

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

The Employment Social Enterprises that REDF supports generated hundreds of millions in earned revenue to reinvest in people and jobs.

Number of participants who gain employment

This metric is no longer tracked.
Totals By Year
Population(s) Served

Homeless people, Incarcerated people, At-risk youth

Related Program

Growth Portfolio

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

REDF-supported Employment Social Enterprises assisted, trained, and employed thousands facing barriers, including incarceration, unstable housing, mental illness, substance abuse, & opportunity youth.

Number of employer partners offering jobs to clients

This metric is no longer tracked.
Totals By Year
Population(s) Served

Homeless people, Incarcerated people, At-risk youth, Asylum seekers, Victims of crime and abuse

Related Program

Growth Portfolio

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

The number of social enterprises supported nationally by REDF via the Growth Portfolio, Accelerator, and RIIF.

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

In our current five-year strategy (2021-2025), REDF aims to:
(1) prioritize investments in Employment Social Enterprises run by people of color and with the lived experience of whom they employ
(2) employ 50,000 people facing barriers like justice involvement, precarious housing, mental illness, addiction, refugee status, family violence and disconnection from school or work; and
3) foster sustained pathways to economic mobility

REDF partners with Employment Social Enterprises and the entrepreneurs who lead them — providing capital, capacity, and community — to amplify their transformative impact. REDF engages in advocacy and creates government partnerships to build an environment in which ESEs can thrive and the demand for their services grows, rooted in evidence of the results achieved. We use data to measure the value of our work and continuously improve programs.

REDF is distinctive as the only philanthropy in the United States that invests exclusively in social enterprises focused on employment, being a first mover in the space of ESEs since 1997. Informed by 25 years of experience, and because REDF’s financial resources are largely comprised of unrestricted grants, it deploys capital to where the need and opportunity are greatest; utilizes in-house talent, while leveraging consultants for specialized expertise; pairs growth capital with hands-on technical assistance for ESEs; and actively builds multi-sector partnerships.

Over the last 25 years, REDF has supported the creation of dozens of new social enterprise business lines as well as supported the creation of new stand-alone social enterprises, and social enterprises within larger non-profit social service providers (e.g. housing providers). In addition to providing ESEs with grants and technical assistance that strengthen businesses and facilitate the adoption of effective, evidence-based employee supports, REDF has brokered procurement from business and government to create new markets and more job placements for beneficiaries. These programs have benefitted social enterprise employees significantly, with the average employee earning 123% of minimum wage after their first social enterprise job, and a 33% increase in employment pre/post ESE – data points REDF is particularly focused on increasing in partnership with the ESEs it supports.

As a thought leader and subject matter expert in the ESE field, REDF has a host of longstanding relationships with likeminded organizations who seek to advance the social enterprise movement nationwide, not to mention our relationships with the hundreds of ESEs we’ve served and invested in over the course of 25 years. Our partners include the ESEs themselves, agencies and community-based organizations providing supports for ESE participants (e.g. legal services), local, state and federal government agencies, policymakers, philanthropy, and private-sector businesses with potential for developing hiring pipelines for ESE employees and contracting for services with ESEs

Since its inception, REDF has supported 280 social enterprises in 38 states and DC, with businesses earning more than $2 billion in revenue and employing over 100,000 people (and counting).

This social enterprise investment pays off for society – $2.23 in benefits to society for every $1 invested.

The broader impact is in the lives transformed, as people find not just work but hope, pride, belonging, and self-sufficiency. When people work, we leverage all of the talent available to our country. Families and communities are stronger, and so is our society.

REDF continues to expand our reach and deepen our impact – demonstrating the value of employment social enterprises, adding to the base of evidence, and creating a thriving ecosystem that includes social enterprises, business, philanthropy, and government working together.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We share the feedback we received with the people we serve, We tell the people who gave us feedback how we acted on their feedback, We ask the people who gave us feedback how well they think we responded

  • What challenges does the organization face when collecting feedback?

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

4.26

Average of 13.84 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

10.5

Average of 10.2 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

25%

Average of 23% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

REDF

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

REDF

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

REDF

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of REDF’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation $756,891 -$941,447 -$2,807,280 $30,884,621 -$30,684,475
As % of expenses 5.8% -6.0% -4.5% 221.7% -161.5%
Unrestricted surplus (deficit) after depreciation $509,352 -$1,175,574 -$2,968,806 $30,806,896 -$30,759,164
As % of expenses 3.8% -7.3% -4.8% 219.9% -161.2%
Revenue composition info
Total revenue (unrestricted & restricted) $10,068,536 $11,604,138 $81,494,048 $11,565,051 $17,800,426
Total revenue, % change over prior year -30.4% 15.3% 602.3% -85.8% 53.9%
Program services revenue 0.2% 0.9% 0.0% 0.0% 0.0%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 0.3% 0.4% 0.0% 0.1% 0.0%
Government grants 7.7% 3.9% 58.9% 18.6% 7.4%
All other grants and contributions 91.7% 94.8% 40.7% 77.6% 87.4%
Other revenue 0.0% 0.0% 0.3% 3.8% 5.2%
Expense composition info
Total expenses before depreciation $12,995,039 $15,764,866 $62,132,086 $13,931,491 $19,002,678
Total expenses, % change over prior year -0.3% 21.3% 294.1% -77.6% 36.4%
Personnel 42.0% 39.0% 11.8% 58.6% 48.0%
Professional fees 15.8% 14.4% 3.8% 19.9% 14.6%
Occupancy 3.9% 3.7% 0.7% 1.0% 2.5%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 28.3% 33.6% 6.7% 11.6% 21.4%
All other expenses 10.0% 9.4% 77.0% 8.9% 13.5%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $13,242,578 $15,998,993 $62,293,612 $14,009,216 $19,077,367
One month of savings $1,082,920 $1,313,739 $5,177,674 $1,160,958 $1,583,557
Debt principal payment $0 $0 $0 $1,007,308 $0
Fixed asset additions $0 $0 $0 $218,170 $78,412
Total full costs (estimated) $14,325,498 $17,312,732 $67,471,286 $16,395,652 $20,739,336

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 15.0 10.9 2.2 11.5 10.5
Months of cash and investments 15.5 10.9 2.2 11.5 10.5
Months of estimated liquid unrestricted net assets 12.1 9.2 1.8 34.4 5.8
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $16,212,333 $14,328,716 $11,507,904 $13,295,681 $16,551,011
Investments $620,607 $0 $0 $0 $0
Receivables $11,727,663 $9,313,496 $33,099,615 $27,687,194 $23,124,209
Gross land, buildings, equipment (LBE) $1,206,587 $1,126,633 $903,586 $1,121,756 $1,165,211
Accumulated depreciation (as a % of LBE) 65.0% 75.2% 86.9% 77.0% 77.5%
Liabilities (as a % of assets) 2.3% 2.7% 4.9% 3.1% 9.4%
Unrestricted net assets $13,565,935 $12,390,361 $9,421,555 $40,228,451 $9,469,287
Temporarily restricted net assets $14,945,382 N/A N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A N/A
Total restricted net assets $14,945,382 $11,088,740 $33,253,460 $0 $29,482,222
Total net assets $28,511,317 $23,479,101 $42,675,015 $40,228,451 $38,951,509

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

President & CEO

Maria Kim

Maria joined as President in June 2021 (in a role she describes as her “dream job”) and added CEO to her title in March 2022 when Carla Javits transitioned into an advisory role. She joined REDF after a 15 year career at Cara Collective – a social enterprise on the move to eradicate relational and financial poverty. At Cara, Maria helped to deepen its impact for thousands of Chicagoans from untapped talent pools, while bringing its services to a national stage – expanding both its footprint and its influence to practitioners and employers alike in their collective journey to fueling a more inclusive economy.

CFAO

David Samuels

David Samuels is responsible for leading and managing finance, information technology, human resources, legal compliance, and facilities. David and his teams work to deliver outstanding services to internal and external clients with an approach based on continuous incremental improvement, systems enhancements, and strong collaborative teams. After earning his CPA while at Arthur Andersen, and his MBA from UC Berkeley, David has accumulated over 25 years of CFO-COO experience in different industries and geographies, including CFAO of Bio-Rad Laboratories French subsidiary in Paris, Director of Finance at eBay in San Jose, CFO at Backroads in Berkeley, and CFO-COO at Rubicon Programs, Inc. in Richmond, CA. David has also acquired considerable experience in the Social Enterprise sector from his work at Rubicon Programs where he was involved in managing and growing bakery and landscape service social enterprises, along with social service programs.

Number of employees

Source: IRS Form 990

REDF

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

REDF

Highest paid employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of highest paid employee data for this organization

REDF

Board of directors
as of 09/21/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

George Roberts

KKR

George R. Roberts

KKR

Harris Barton

H. Barton Asset Management

Stuart Davidson

Labrador Ventures

Elizabeth Y.A. Ferguson

Drexel Oceania

Dan Rose

Coatue Ventures & Coatue Growth

Phillip Estes

Horizon Holdings

Carla Javitz

REDF

Bonnie Boswell

Bonnie Boswell Reports

Chet P Hewitt

Sierra Health Foundation

Mack Jenkins

California Council on Criminal Justice & Behavioral Health

Chris O'Donnell

Elena Quintana

Institute on Public Safety & Social Justice, Adler University

Maria S Salinas

Los Angeles Chamber of Commerce

Adam Smith

Google, YouTube

Ryan Nolan

Goldman Sachs

Jesse Rogers

Altamont Capital Partners

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Not applicable

Organizational demographics

SOURCE: Self-reported; last updated 9/21/2023

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
Asian/Asian American
Gender identity
Female

The organization's co-leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 09/21/2023

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We review compensation data across the organization (and by staff levels) to identify disparities by race.
  • We ask team members to identify racial disparities in their programs and / or portfolios.
  • We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We disaggregate data by demographics, including race, in every policy and program measured.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.

Contractors

Fiscal year ending
There are no fundraisers recorded for this organization.