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Redf Impact Investing Fund

EIN 84-2301234 · San Francisco, CA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood82 out of 100GovernanceGood88 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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.

Income
$1.8 million
Spending
$984,190
Spent on programs
95%
Reserves
31 months of spending
Largest source of income
donations and private grants, 75%
Employees
0
Volunteers
9
Highest pay
$312,652, chief executive officer

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 82 out of 100. Higher than 64% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    35 of 35

    Spendable reserves would cover 31.0 months of spending.

  • Debt

    2 of 20

    It owes 77% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 45% of income.

  • Income trend

    15 of 15

    Income rose 9% on the year before.

  • Spending floor

    15 of 15

    95% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 88 out of 100. Higher than 48% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    18 of 25

    4 of 4 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $931,181 spent. 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).

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since January 2020.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

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