REDF
An Investment That Works
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
2004
President & CEO
Maria Kim
CFAO
David Samuels
Main address
150 Sutter Street 267
San Francisco, CA 94104 USA
EIN
54-2132153
Job training
Job retraining
Job creation and workforce development
Entrepreneurship
Social enterprise
Population served
Ethnic and racial groups
Economically disadvantaged people
Incarcerated people
At-risk youth
People with disabilities
NTEE code
Management & Technical Assistance (J02)
Nonprofit Management (S50)
Research Institutes and/or Public Policy Analysis (W05)
IRS subsection
501(c)(3) Public Charity
IRS filing requirement
This organization is required to file an IRS Form 990 or 990-EZ.
Tax forms
Communication
Affiliations
Programs and results
Reports and documents
Download annual reports Download other documentsWhat we aim to solve
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
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.
REDF Accelerator
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.
LA:RISE
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.
REDF Impact Investing Fund
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.
Capacity Building
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.
Farber Program
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.
REDF Community
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.
Government Partnerships and Policy
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.
Where we work
External reviews
Our results
How does this organization measure their results? It's a hard question but an important one.
Evaluation documents
Download evaluation reportsAdditional 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
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.
Goals & Strategy
Reports and documents
Download strategic planLearn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
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
What are the organization's key strategies for making this happen?
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.
What are the organization's capabilities for doing this?
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
What have they accomplished so far and what's next?
Since its inception, REDF has supported 238 social enterprises in 36 states and DC, with businesses earning more than $1.6 billion in revenue and employing over 86,000 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.
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2020 info
5.62
Months of cash in 2020 info
2.2
Fringe rate in 2020 info
29%
Funding sources info
Assets & liabilities info
REDF
Revenue & expensesFiscal Year: Jan 01 - Dec 31
SOURCE: IRS Form 990
REDF
Balance sheetFiscal Year: Jan 01 - Dec 31
SOURCE: IRS Form 990
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: Jan 01 - Dec 31
SOURCE: IRS Form 990
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.
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Business model indicators
| Profitability info | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Unrestricted surplus (deficit) before depreciation | $2,824,121 | $4,392,864 | $756,891 | -$941,447 | -$2,807,280 |
| As % of expenses | 23.1% | 33.7% | 5.8% | -6.0% | -4.5% |
| Unrestricted surplus (deficit) after depreciation | $2,642,330 | $4,142,258 | $509,352 | -$1,175,574 | -$2,968,806 |
| As % of expenses | 21.3% | 31.2% | 3.8% | -7.3% | -4.8% |
| Revenue composition info | |||||
|---|---|---|---|---|---|
| Total revenue (unrestricted & restricted) | $15,243,801 | $14,461,071 | $10,068,536 | $11,604,138 | $81,494,048 |
| Total revenue, % change over prior year | -35.7% | -5.1% | -30.4% | 15.3% | 602.3% |
| Program services revenue | 0.0% | 0.1% | 0.2% | 0.9% | 0.0% |
| Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Investment income | 0.1% | 0.1% | 0.3% | 0.4% | 0.0% |
| Government grants | 24.4% | 27.1% | 7.7% | 3.9% | 58.9% |
| All other grants and contributions | 75.4% | 72.7% | 91.7% | 94.8% | 40.7% |
| Other revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% |
| Expense composition info | |||||
|---|---|---|---|---|---|
| Total expenses before depreciation | $12,214,656 | $13,032,338 | $12,995,039 | $15,764,866 | $62,132,086 |
| Total expenses, % change over prior year | 52.5% | 6.7% | -0.3% | 21.3% | 294.1% |
| Personnel | 34.0% | 36.5% | 42.0% | 39.0% | 11.8% |
| Professional fees | 16.2% | 15.6% | 15.8% | 14.4% | 3.8% |
| Occupancy | 4.1% | 3.7% | 3.9% | 3.7% | 0.7% |
| Interest | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Pass-through | 36.6% | 35.0% | 28.3% | 33.6% | 6.7% |
| All other expenses | 9.0% | 9.3% | 10.0% | 9.4% | 77.0% |
| Full cost components (estimated) info | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Total expenses (after depreciation) | $12,396,447 | $13,282,944 | $13,242,578 | $15,998,993 | $62,293,612 |
| One month of savings | $1,017,888 | $1,086,028 | $1,082,920 | $1,313,739 | $5,177,674 |
| Debt principal payment | $0 | $0 | $0 | $0 | $0 |
| Fixed asset additions | $446,009 | $0 | $0 | $0 | $0 |
| Total full costs (estimated) | $13,860,344 | $14,368,972 | $14,325,498 | $17,312,732 | $67,471,286 |
Capital structure indicators
| Liquidity info | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Months of cash | 10.1 | 13.5 | 15.0 | 10.9 | 2.2 |
| Months of cash and investments | 10.1 | 13.6 | 15.5 | 10.9 | 2.2 |
| Months of estimated liquid unrestricted net assets | 8.1 | 11.5 | 12.1 | 9.2 | 1.8 |
| Balance sheet composition info | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Cash | $10,257,343 | $14,635,423 | $16,212,333 | $14,328,716 | $11,507,904 |
| Investments | $0 | $175,000 | $620,607 | $0 | $0 |
| Receivables | $20,067,578 | $16,947,553 | $11,727,663 | $9,313,496 | $33,099,615 |
| Gross land, buildings, equipment (LBE) | $1,005,785 | $1,061,838 | $1,206,587 | $1,126,633 | $903,586 |
| Accumulated depreciation (as a % of LBE) | 28.4% | 50.5% | 65.0% | 75.2% | 86.9% |
| Liabilities (as a % of assets) | 2.3% | 2.3% | 2.3% | 2.7% | 4.9% |
| Unrestricted net assets | $8,914,325 | $13,056,583 | $13,565,935 | $12,390,361 | $9,421,555 |
| Temporarily restricted net assets | $21,592,907 | $18,628,776 | $14,945,382 | N/A | N/A |
| Permanently restricted net assets | $0 | $0 | $0 | N/A | N/A |
| Total restricted net assets | $21,592,907 | $18,628,776 | $14,945,382 | $11,088,740 | $33,253,460 |
| Total net assets | $30,507,232 | $31,685,359 | $28,511,317 | $23,479,101 | $42,675,015 |
Key data checks
| Key data checks info | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
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 employeesSOURCE: IRS Form 990
Compensation data
REDF
Highest paid employeesSOURCE: IRS Form 990
Compensation data
REDF
Board of directorsas of 03/06/2023
Board of directors data
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
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
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:
The organization's co-leader identifies as:
Race & ethnicity
Gender identity
Sexual orientation
No data
Disability
No data
Equity strategies
Last updated: 04/07/2021GuideStar 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
- 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.
- 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.
Contractors
Fiscal year endingGuideStar Pro Reports
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- Financial statements for 2021, 2020, 2019, 2018, 2016
- Letter of Determination
- Officer and/or Employee data for 2020, 2019, 2018, 2017, 2016
- Contractor and/or Paid Preparer data for 2020, 2019, 2018
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