Refugee Investment Network INC

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Rin connects investors with Refugee ventures, build the field of Refugee Investment, changes the narrative around contribution of refugees, and advocates for more inclusive economic policies. Ultimately rin aims to create quality jobs, economic growth, and measurable improvements to the livelihoods of millions of refugees and the communities that host them.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$194K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $30K a year · 3% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$194K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $343K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$109K
59% of total assets
Fine: liabilities are 59% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
+108% vs prior year
Spent
$1.1M
To programs
92%
Net assets
$76K
By yearFY2021–FY2024
Revenue
$1.1M
FY2024▲ +108%
Tap a bar for its year
Revenue by fiscal year
FY2021$572K
FY2022$1.3M
FY2023$551K
FY2024$1.1M
Expenses
$1.1M
FY2024▲ +40%
Tap a bar for its year
Expenses by fiscal year
FY2021$557K
FY2022$981K
FY2023$776K
FY2024$1.1M
Net assets
$76K
FY2024▲ +419%
Tap a bar for its year
Net assets by fiscal year
FY2021−$12K
FY2022$240K
FY2023$15K
FY2024$76K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2022.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $995K Management & general 8% · $89K Fundraising 0% · $335

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990; $194K paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO/President, Secretary
$194,275Pt VII · Sec A
SR. Adv., Co-Mng Dir.
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Timothy W Docking’s $194K as CEO/President, Secretary is at the 88th percentile of top reported officer pay among 3869 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Timothy W Docking$194,275$178,085$166,122$58,792
John Kluge———$43,423
John Kluge Board Chair Founder——$20,438—

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.

See Refugee Investment Network INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects investors with refugee businesses to create jobs and economic growth.

Questions for Refugee Investment Network INC

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Your first name shows with your question. Refugee Investment Network INC answers here, for everyone.

1 program · $995K · in their own filed words · FY2024
01

Continued to build the refugee lens investing ecosystem. Conducted field-building work in jordan, kenya, zambia, and COLOMBIA.IN 2024, the refugee investment network (rin) made significant strides in advancing refugee lens investing (rli) globally and especially across east africa, positioning itself as a thought leader and ecosystem…

$995Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Acumen Fund INCFY2024$333K
Total grants receivedfrom 2 funders$343K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Gifts and grantsLn 1h$579K
Fees for servicesLn 2g$566K
Other incomeLn 4–11$556
Money outPt IX
$1.1M
Ln 25
Programscol B$995K
Managementcol C$89K
Fundraisingcol D$335
Owns and owesPt X
$76K
net assets · Ln 32
Cash and savingsLn 1–2$74K
Total assetsLn 16$185K
LiabilitiesLn 26$109K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$579K
Government grantsLn 1e$508K
Fees for servicesLn 2g$566K
Other incomeLn 4–11$556
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$74K
Cash and savings togetherLn 1–2$74K
Pledges and grants receivableLn 3$92K
Prepaid expenses and deferred chargesLn 9$19K
Total assetsLn 16$185K
LiabilitiesLn 26$109K
Net assetsLn 32$76K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$59K$74K
Total assetsLn 16$69K$185K
LiabilitiesLn 26$55K$109K
Net assetsLn 32$15K$76K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$194K$194K
Accounting feesLn 11c$18K$18K
Other fees for servicesLn 11g$838K$782K$56K$335
Office expensesLn 13$3K$3K
OccupancyLn 16$7K$2K$5K
TravelLn 17$17K$15K$2K
Conferences, conventions and meetingsLn 19$2K$2K$52
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$3K$605$2K
Total functional expensesLn 25$1.1M$995K$89K$335

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Oct 7, 2025 $1.1M$1.1M$61K$76K 990 PDF
FY2023Filed with the IRS Sep 13, 2024 $551K$776K−$225K$15K 990 PDF
FY2022Filed with the IRS Oct 20, 2023 $1.3M$981K$270K$240K 990 PDF
FY2021Filed with the IRS May 31, 2022 $572K$557K$16K−$12K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,145,361 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $118,531$578,768
I-9 Program service revenuePrior year $432,549$566,037
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$556
I-12 Total revenuePrior year $551,080$1,145,361
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $178,085$194,275
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $598,381$890,136
I-18 Total expensesPrior year $776,466$1,084,411
I-19 Revenue less expensesPrior year −$225,386$60,950
Part VI · Governance 6 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,145,361 across 6 lines filed
VIII-1e Government grants$507,768
VIII-1f All other contributions, gifts and grants$71,000
VIII-1h Total contributions, gifts and grants$578,768
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $566,037$566,037
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $556$556
VIII-12 Total revenueRelated to mission $566,037 · Unrelated business $0 · Excluded from tax $556$1,145,361
Part IX · Statement of functional expenses $1,084,411 across 9 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $194,275$194,275
IX-11c Accounting feesManagement $17,951$17,951
IX-11g Other fees for servicesPrograms $782,085 · Management $55,643 · Fundraising $335$838,063
IX-13 Office expensesManagement $2,750$2,750
IX-16 OccupancyPrograms $1,555 · Management $4,964$6,519
IX-17 TravelPrograms $14,649 · Management $2,397$17,046
IX-19 Conferences, conventions and meetingsPrograms $2,253 · Management $52$2,305
IX-23 InsuranceManagement $2,566$2,566
IX-24 Other expenses (24a–d)Programs $605 · Management $2,331$2,936
IX-25 Total functional expensesPrograms $995,422 · Management $88,654 · Fundraising $335$1,084,411
Part X · Balance sheet $184,962 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $58,918$73,877
X-3 Pledges and grants receivable$92,017
X-9 Prepaid expenses and deferred chargesStart of year $10,239$19,068
X-16 Total assetsStart of year $69,157$184,962
X-17 Accounts payable and accrued expensesStart of year $54,597$109,452
X-26 Total liabilitiesStart of year $54,597$109,452
X-27 Net assets without donor restrictionsStart of year $14,560$75,510
X-32 Total net assets or fund balancesStart of year $14,560$75,510
X-33 Total liabilities and net assetsStart of year $69,157$184,962
Part XI · Reconciliation of net assets $75,510 net assets at year end
XI-1 Total revenue$1,145,361
XI-2 Total expenses$1,084,411
XI-3 Revenue less expenses$60,950
XI-4 Net assets at start of year$14,560
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$75,510

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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