Refoundry INC FY2019 filing

Brooklyn, NY · Unknown exempt organization

✕ IRS exemption revoked Latest data FY2019
Revenue
$791K
Spent
$567K
To programs
45%
Net assets
$215K
IRS revoked this organization's tax-exempt status on May 15, 2025
You’re viewing the FY2019 filing — not the latest on file. See the latest (FY2021) →

Form 990 for the fiscal year ending December 2019 (IRS tax year 2019).

Status and standing

Tax-deductible?
No — IRS exemption revoked
On the IRS revocation list.
Can I give now?
No — exemption revoked (2025-05-15)
On the IRS revocation list.
Filing up to date?
No filing since FY2021 — 5 yrs
Foundation funders?
2 funders, incl. Louis and Anne Abrons Foundation INC
$3K in the latest grant year.
Spent on programs?
45% to programs
Form 990 Part IX, latest filing.
Size and trend
$100K–1M
Legal name (IRS)Hdr · item CRefoundry INC
EINHdr · item D47-3502776
Exempt statusHdr · item IRevoked
Latest filingForm 990FY2021 · Form 990
Principal addressHdr · item CBrooklyn, NY
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.refoundry.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.45 Management & general $0.20 Fundraising $0.34
Program services45%$258K
Management & general20%$116K
Fundraising34%$194K
Total functional expensesLn 25$567K

Financial health

Revenue & expenses by yearFY2019–FY2021
Revenue
$791K
FY2019
Expenses
$567K
FY2019
Surplus margin
+28%
revenue over expenses, this year
Program spending
45%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2019 · Form 990
Total assets
$443K
FY2019
Total liabilities
$228K
FY2019
Revenue less expensesPt I · Ln 19$224K
Total assetsPt X · Ln 16$443K
Program-expense ratioPt IX · col B45%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 4pending

Balance Sheet

Part X · end of year
CashLn 1$391K
Total assetsLn 16$443K
Total liabilitiesLn 26$228K
Total net assetsLn 32$215K
Months of cash on handcomputed8.3

Statement of Revenue

Part VIII
Contributions & grants$750K · 95%
Program service revenue$41K · 5%
Contributions & grants95%$750K
Program service revenue5%$41K
— government grantsLn 1e$217K
Total revenueLn 12$791K

Financial Metrics

Form 990 · FY2019 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $391K · Operating expenses/yr $567K
8.3 months
Where the money goes
Program services
Program services $258K · Total expenses $567K
45%
Management & General
Management & general $116K · Total expenses $567K
20%
Fundraising
Fundraising $194K · Total expenses $567K
34%
Cost to raise $1
Fundraising expense $194K · Solicited contributions $533K
$0.36 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $750K · Total revenue $791K
95%
Government reliance
Government grants $217K · Total revenue $791K
27%
Earned-income share
Program service revenue $41K · Total revenue $791K
5%
Investment reliance
Investment income $0 · Total revenue $791K
0%
Program self-sufficiency
Program service revenue $41K · Total expenses $567K
7%
Growth & trend
Revenue growth (YoY)
This year $791K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $215K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $791K · Expenses $567K
+28%
Liabilities-to-Assets
Total liabilities — · Total assets $443K
—
Net-asset ratio
Net assets $215K · Total assets $443K
48%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $443K
0%
People & payroll
Highest Reported Total Compensation
Individual Thomas Safian · Reported title Executive Direc · Highest reported compensation $84K · Total expenses $567K
15%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $313K · Total expenses $567K
55%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 45%——
Overhead ratio 20%——
Fundraising cost ratio 26%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 0.4%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Direc
$84,000Pt VII · Sec A
Board President
$0Pt VII · Sec A
Board Treasurer
$0Pt VII · Sec A
Board Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2021FY2020FY2019
Thomas Safian$39,686$108,000$84,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Trains formerly incarcerated people in high-level crafts to build financial independence and create jobs.

Provided by the organization

This section is blank until Refoundry INC claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $258K of program spending, described in the organization's own filed words · FY2019.
01

Participants are taught to repurpose discarded materials into home furnishings, sell the products they make during training, with revenue covering their wages and benefits. The program provides three pathways to personal growth and financial independence: at 3 months, 7 months and 12 months.

$258Kprogram expense

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Funders

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 2 funders$3K

Filing history

YearRevenueExpensesChangeFiling
FY2021 Latest $548K$639K-40% 990 PDF
FY2020 $916K$652K+16% 990 PDF
FY2019 Viewing $791K$567K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2019IRS
Classification, formation year, addressIRS Business Master File
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