Refed Inc

Analysis

Refed Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 2019, 7 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Refed Inc reported income of $12.4m and spending of $6.3m, leaving 49% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $772k to $12.4m (+1506%), an average of +74% a year. The sharpest change came in the year to December 2019, when income rose by 467%. Over the whole period it spent 72% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Refed Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IL. Charities of a similar size with the same main cause include Bushwick Stuyvesant Heights Home Attendent Program Inc ($12.4m), Trenton Indian Service Area Corporation ($12.4m) and Cross Cultural Family Center ($12.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.7% of the total. Compensation of current officers, directors and key employees was $995k (16% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $10.0m against liabilities of $301k, net assets of $9.7m. It reported 24 employees.