Overview
What is Refoundry Inc?
Refoundry Inc, located in Brooklyn, New York, is a forward-thinking nonprofit organization that offers skills training through workshops in their woodworking space at the Brooklyn Navy Yard. Their primary mission is to empower formerly incarcerated individuals, providing them with the necessary crafts skills and opportunities to attain financial independence and become entrepreneurs. By teaching high-level craftsmanship, creating career pathways, and supporting business ventures, Refoundry aims to challenge the contributing factors leading to mass incarceration and generational poverty. Their 20-week workshop involves repurposing discarded materials into home furnishings, allowing participants to sell their creations and establish their own businesses. Refoundry Inc's mission is carried out by a team of five dedicated professionals.
Official website here: www.refoundry.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: Three Stars (75%)
Refoundry Inc has received a Three-Star out of Four Star rating from Charity Navigator, indicating that it meets standards for accountability and finance. The overall score of 75% is solely based on the Accountability & Finance beacon, which reflects the organization’s commitment to maintaining transparency and sound financial practices.
Strengths of Refoundry Inc include a fully independent board of directors and strong scores in areas such as financial statement reviews, absence of material diversion of assets, and comprehensive conflict of interest, whistleblower, and document retention policies. The organization also demonstrates a low liabilities to assets ratio, which suggests financial stability.
However, the program expense ratio at 53.45% indicates that a portion of funds may not be directed towards programmatic activities, which could be a point of concern for some donors. Overall, while Refoundry Inc shows strong governance and accountability, potential supporters may want to consider the allocation of its expenses when deciding to contribute.
This AI summary has been generated from information found on Charity Navigator.
Is Refoundry Inc legitimate?
Refoundry Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Refoundry Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $44,573
Other Salaries and Wages: $157,910
For more financial information, click here
Official website here: www.refoundry.org/
What is the mission statement of Refoundry Inc?
Refoundry Inc's mission is centered around empowering formerly incarcerated individuals. By providing them with advanced craft skills through the Refoundry Maker Training program, the organization aims to create career opportunities and foster entrepreneurship. This mission aims to disrupt the cycle of mass incarceration and generational poverty. Refoundry's program encourages its trainees to repurpose discarded materials into home furnishings, enabling them to sell their own products and start their own businesses, thereby promoting financial independence.
Official website here: www.refoundry.org/
Who is the CEO of Refoundry Inc?
Unavailable
Official website here: www.refoundry.org/
What is the revenue of Refoundry Inc?
Refoundry Inc's revenue in 2021 was $548,018.
Official website here: www.refoundry.org/
Who are the executives of Refoundry Inc and what are their salaries?
The average compensation at Refoundry Inc during 2021 was $31,582. There are 5 employees and 32 volunteers at Refoundry Inc.
Here are 4 key members and their salaries:
- Compensation: $39,686
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.refoundry.org/
Where can I find the form 990 for Refoundry Inc?
Refoundry Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.refoundry.org/
Learn more at the official website: www.refoundry.org/
Mission Statement of Refoundry Inc
Refoundry Inc, a nonprofit organization, aims to empower formerly incarcerated individuals by providing them with essential skills to attain financial independence and become self-sufficient entrepreneurs. The mission of Refoundry Inc is twofold: firstly, it seeks to disrupt the underlying forces that perpetuate mass incarceration and generational poverty. Secondly, Refoundry Inc offers a comprehensive Maker Training program, which imparts high-level crafts skills, fosters career pathways, and supports entrepreneurship. Through this program, individuals learn to repurpose discarded materials and transform them into home furnishings, eventually selling their own products and establishing their own businesses. By doing so, Refoundry Inc not only equips its trainees with valuable skills but also empowers them to become job creators, thereby breaking the cycle of poverty and incarceration.
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Impact
July, 2024
Refoundry Inc's impact lies in providing formerly incarcerated individuals with the skills and opportunities to achieve financial independence and become job creators. Through their Maker Training program, participants learn high-level craft skills, create career pathways, and are supported in entrepreneurship endeavors. By teaching individuals how to repurpose discarded materials into home furnishings, sell their own products, and start their own businesses, Refoundry is disrupting the forces that contribute to mass incarceration and generational poverty. Their work not only empowers individuals to rebuild their lives but also has the potential to positively impact communities and break the cycle of incarceration.
This information is meant to be a general summary of Refoundry Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2021.
- Gross Receipts: $548,018
Assets and Liabilities:
- Total Assets: $505,163
- Total Liabilities: $97,254
- Net Assets: $407,909
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Organization Details
Founding Year
2015
Phone
(347) 566-8562Main Address
63 FLUSHING AVE BLD 212 207, BROOKLYN, NY, 11205
Website
www.refoundry.org/NTEE Category
Code: I40 - Crime
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