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← RF IMPACT ADVISERS INC

Form 990 for tax year 2023

Filed by RF IMPACT ADVISERS INC.

Totals

Total revenue
$290,743
Total expenses
$374,097
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$290,743
Investment income
$0
Other revenue
$0
Total assets, end of year
$549,507
Total liabilities, end of year
$72,397
Net assets or fund balances, end of year
$477,110
Program services expenses (Part IX)
$374,097
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$374,097

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ASSET MANAGEMENT FEES

    total $290,743 · related or exempt $290,743

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $225,305 · program services $225,305

  • 11c · Fees: accounting

    total $54,006 · program services $54,006

  • 11f · Fees: investment management

    total $30,503 · program services $30,503

  • 11g · Fees: other

    total $8,700 · program services $8,700

  • 14 · Information technology

    total $14,310 · program services $14,310

  • 23 · Insurance

    total $19,719 · program services $19,719

  • 24a · Other expenses: TAXES- STATE AND LOCAL

    total $15,342 · program services $15,342

  • 24b · Other expenses: LOAN SERVICE FEE EXPENS

    total $4,500 · program services $4,500

  • 24c · Other expenses: REGISTRATION FEE EXPENS

    total $1,712 · program services $1,712

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $371,651 · end of year $250,611

  • 4 · Accounts receivable

    beginning of year $211,514 · end of year $264,039

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,654 · end of year $34,857

  • 17 · Accounts payable and accrued expenses

    beginning of year $49,355 · end of year $72,397

  • 27 · Net assets without donor restrictions

    beginning of year $560,464 · end of year $477,110

Mission and programs · 2023

Mission

RFIA IS ORGANIZED EXCLUSIVELY FOR SOCIAL WELFARE PURPOSES, INCLUDING, FOR SUCH PURPOSES, INCREASING THE CAPITAL AVAILABLE TO ORGANIZATIONS THAT DEVELOP AND/OR OPERATE LONG TERM AFFORDABLE HOUSING FOR THE ECONOMICALLY AND PHYSICALLY DISADVANTAGED, COMMUNITY FACILITIES SUCH AS SCHOOLS AND COMMUNITY HEALTH CENTERS, BUSINESSES PROVIDING ACCESS TO HEALTHY FOODS, SUSTAINABLE ENERGY PROJECTS, COMMERCIAL REAL ESTATE, AND OTHER PROJECTS THAT MAY INCREASE SOCIAL WELFARE.

  • RF IMPACT ADVISERS INC. (RFIA) PURSUES ITS PURPOSES BY INCREASING THE PARTICIPATION OF CONVENTIONAL FINANCIAL INSTITUTIONS IN THE FINANCING OF SUCH PROJECTS THROUGH THE SALE OF LOANS, DIRECT AND INDIRECT LOAN PARTICIPATION, TECHNICAL ASSISTANCE AND CREDIT ENHANCEMENT, INCREASING ACCESS TO CAPITAL THROUGH VARIOUS MEANS TAILORED TO ACHIEVE ITS SOCIAL WELFARE PURPOSES, AND MAKING CHARITABLE CONTRIBUTIONS TO THE REINVESTMENT FUND, INC., AND ANY OTHER NON-PROFIT CORPORATION OF WHICH THE REINVESTMENT FUND IS A MEMBER, PROVIDED THE RECIPIENT ORGANIZATION IS EXEMPT FROM FEDERAL TAX UNDER SECTION 501(C)(3) OF THE IRC.

    Expenses $374,097 · Revenue $290,743

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DONALD HINKLE-BROWN

    DIRECTOR

    Total calculated
    $706,151
    From this org
    $0
    From related orgs
    $644,076
    Other
    $62,075
    Hours/week
    0.5 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $456,219 related
    Bonus
    $0 + $141,017 related
    Other
    $0 + $46,840 related
    Deferred
    $0 + $32,978 related
    Nontaxable benefits
    $0 + $29,097 related
    Filer's total
    $0 + $706,151 related

  • PATRICK P COYNE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SCOTT M JENKINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • LISA DETWILER

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • SAUL A BEHAR

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 2 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
THE REINVESTMENT FUND, INC. HAS ESTABLISHED A DEFERRED COMPENSATION PLAN UNDER SECTION 457(F) FOR A SELECT GROUP OF MANAGEMENT AND HIGHLY COMPENSATED EMPLOYEES OF TRF. THE AMOUNT OF A PARTICIPANT'S EMPLOYER CONTRIBUTION, AND THE DATE ON WHICH THE EMPLOYER CONTRIBUTION IS CONTRIBUTED AND CREDITED TO HIS OR HER ACCOUNT, WILL BE SET FORTH IN THE CONTRIBUTION NOTICE FOR THAT PLAN YEAR. ALL ACCRUED DEFERRED COMPENSATION SHALL VEST AND BE PAYABLE (I) ON THE DATE THE PARTICIPANT ATTAINS NORMAL RETIREMENT AGE, PROVIDED THAT THE PARTICIPANT CONTINUES TO BE AN EMPLOYEE ON THAT DATE, (II) AFTER SEVERANCE OF EMPLOYMENT DUE TO PARTICIPANT'S DISABILITY OR TERMINATION BY TRF WITHOUT CAUSE, OR (III) IN ACCORDANCE WITH THE VESTING SCHEDULE SET FORTH IN THE CONTRIBUTION NOTICE PROVIDED TO THE PARTICIPANT FOR THAT EMPLOYER CONTRIBUTION. THE FOLLOWING AMOUNT WAS CONTRIBUTED TO THE 457(F) PLAN IN 2023 AND IS REPORTED IN PART II, COLUMN (C): DONALD HINKLE-BROWN $35,000 A 457(F) PARTICIPANT WILL FORFEIT THE PORTION OF HIS OR HER ACCOUNT THAT IS NOT VESTED AS OF THE DATE HE OR SHE INCURS A SEVERANCE FROM EMPLOYMENT WITH REINVESTMENT FUND.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
10 October 2024
IRS schema version
2023v5.1
Source object
202412859349302211

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