ReUse Works Ragfinery

Nonprofit profile at a glance

EIN
200899220
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Bellingham, WA, USA
Phone
3607386977
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Vocational Rehabilitation

Reported finances

Revenue
$575,778
Expenses
$587,845
Assets
$293,897
Liabilities
$15,031

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Madeline Rosenvinge (President)
  • Abbie Lindenberg (Vice President)

People named in this filing

  • Madeline Rosenvinge (President)
  • Abbie Lindenberg (Vice President)
  • Delaney Skordal (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide job training, jobs, and economic development opportunities; reuse and recycle post-consumer textiles.

What it reported doing in 2024

Ragfinery is a job training businesses that salvages and repurposes post-consumer textiles. It supports jobs and job training while educating the community about textile waste reduction and keeping thousands of pounds of textiles out of the waste stream.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 86
  • Accountability: 70
  • Sustainability: 37
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.3%; rating input score 88
  • Program expense ratio: 86.4%; rating input score 86
  • Fundraising efficiency: $8.53 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.1%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.5; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -5.7% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -2.5% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 11.9% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 88.3% of revenue deployed · 86.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $508K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.