Reinvestment Fund
Legal name: The Reinvestment Fund Inc
Nonprofit profile at a glance
- EIN
- 232331946
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Philadelphia, PA, US
- Phone
- 215.574.5800
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Community, Neighborhood Development
Reported finances
- Revenue
- $56,470,670
- Expenses
- $49,646,075
- Assets
- $698,442,334
- Liabilities
- $413,778,961
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
31 people listed
Executive titles in this filing
- CHRISTINA SZCZEPANSKI (PRESIDENT, LENDING & INVES)
- DONALD HINKLE-BROWN (PRESIDENT & CEO)
- EMILY DOWDALL (PRESIDENT, POLICY SOLUTION)
Highest reported compensation
- DONALD HINKLE-BROWN (PRESIDENT & CEO): $727,288 total reported compensation
- CHEILA FERNANDEZ (COO & CORPORATE SECRETARY): $577,037 total reported compensation
- KAREEM THOMAS (CHIEF CREDIT OFFICER): $483,045 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Reinvestment Fund is a mission-driven financial institution committed to making communities work for all people.
What it reported doing in 2024
Lending: encompasses the organization's financing of homes, schools, healthy food retail, healthcare and other projects that benefit low-wealth people and places and is the core lending function of the organization. In 2024, the organization lent $248 million across 20 states, which constructed, rehabilitated or preserved 3,061 homes, 4 health care facilities, 6 food retail and supply chain projects, 12 community facilities, two k-12 schools, and one university. Highlights include using new market tax credits to finance a campus in Florida that will provide services to families experiencing homelessness, a revitalizing investment in the hbcu wilberforce university, and a partnership with an experienced developer of community based solar projects across the country.
Operating model
- Revenue model
- Earned-program. 65% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Reported officer compensation is a large share of total spending, which may reflect staffing concentration and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 70
- Transparency & Controls: 93
- Accountability: 100
- Sustainability: 68
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 64.4%; rating input score 64
- Program expense ratio: 76.9%; rating input score 77
- Fundraising efficiency: $49.05 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings
Transparency & Controls
- Consistency checks: 94.1%; rating input score 94; 28th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 97.1%; rating input score 97; 31st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 12.1%; rating input score 77; 77th percentile among comparable filings
- Total-asset coverage ratio: 14.07; rating input score 94; 94th percentile among comparable filings
- Liabilities to assets ratio: 0.59; rating input score 29; 29th percentile among comparable filings
- Officer compensation ratio: 10.6%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: 5.5% per year; rating input score 100; 45th percentile among comparable filings
- Revenue growth: 5.9% per year; rating input score 100; 51st percentile among comparable filings
- Asset growth: 7.6% per year; rating input score 100; 56th percentile among comparable filings
Details
- What they do: 4 programs and campaigns described on the official site · 14 operating locations identified
- Where the money goes: 64.4% of revenue deployed · 76.9% of spending went to programs
- Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $38.2M in reported program spending
- Leadership: top reported pay $727K · 31 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.3M reported
- Consistency: 39 of 40 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes major donors, grants, executive pay, and related organizations
- Filing history: 14 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 185 filed money-flow records
- Related organizations: 212 filed related-organization links
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Officer compensation ratio scored 2/100.
- High — Sustainability: Liabilities to assets ratio scored 29/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.