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Nonprofiteer
← SPRUCE ROOT INC

Form 990 for tax year 2023

Filed by SPRUCE ROOT INC.

Totals

Total revenue
$8,914,190
Total expenses
$3,997,069
Contributions and grants received
$7,877,678
Grants paid
$1,021,540
Program service revenue
$286,917
Investment income
$674,961
Other revenue
$74,634
Total assets, end of year
$30,397,018
Total liabilities, end of year
$5,424,662
Net assets or fund balances, end of year
$24,972,356
Program services expenses (Part IX)
$3,136,173
Management and general expenses
$603,459
Fundraising expenses
$257,437
Program service expenses (Part III)
$3,136,173

Program services were 78.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,169,516

  • 1f · All other contributions, gifts and grants

    $5,708,162

  • 2a · Program service revenue: WORKFORCE/BUSINESS PRO

    total $160,677 · related or exempt $160,677

  • 2b · Program service revenue: CDFI LENDING

    total $126,240 · related or exempt $126,240

  • 3 · Investment income

    total $678,888 · excluded $678,888

  • 7b · Less cost or other basis and sales expenses

    securities $3,927

  • 7c · Gain or loss

    securities -$3,927

  • 7d · Net gain or loss

    total -$3,927 · excluded -$3,927

  • 11a · Other revenue: FISCAL SPONSORSHIP

    total $57,011 · related or exempt $57,011

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $17,623 · excluded $17,623

  • 11e · Other revenue, total

    $74,634

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,001,540 · program services $1,001,540

  • 2 · Grants to domestic individuals

    total $20,000 · program services $20,000

  • 5 · Compensation of officers, directors and key employees

    total $170,885 · program services $107,243 · management and general $43,239 · fundraising $20,403

  • 7 · Other salaries and wages

    total $1,363,020 · program services $855,394 · management and general $344,884 · fundraising $162,742

  • 8 · Pension plan contributions

    total $41,667 · program services $26,149 · management and general $10,543 · fundraising $4,975

  • 9 · Other employee benefits

    total $156,886 · program services $98,457 · management and general $39,697 · fundraising $18,732

  • 10 · Payroll taxes

    total $117,550 · program services $73,771 · management and general $29,744 · fundraising $14,035

  • 11b · Fees: legal

    total $17,725 · management and general $17,725

  • 11c · Fees: accounting

    total $63,797 · management and general $63,797

  • 11f · Fees: investment management

    total $65,641 · management and general $65,641

  • 11g · Fees: other

    total $415,272 · program services $376,409 · management and general $18,863 · fundraising $20,000

  • 13 · Office expenses

    total $121,066 · program services $48,703 · management and general $66,960 · fundraising $5,403

  • 16 · Occupancy

    total $12,602 · management and general $8,571 · fundraising $4,031

  • 17 · Travel

    total $153,211 · program services $122,390 · management and general $29,696 · fundraising $1,125

  • 20 · Interest

    total $32,807 · program services $32,807

  • 24a · Other expenses: TRAINING

    total $155,085 · program services $123,888 · management and general $30,059 · fundraising $1,138

  • 24b · Other expenses: FISCAL SPONSORSHIP FEE

    total $30,060 · program services $30,060

  • 24c · Other expenses: GRANT/SUBAWARD MGMT

    total $17,261 · management and general $17,261

  • 24d · Other expenses: INDIRECT COST ALLOCATIO

    total $0 · program services $195,379 · management and general -$195,535 · fundraising $156

  • 24e · All other expenses

    total $40,994 · program services $23,983 · management and general $12,314 · fundraising $4,697

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,141,851 · end of year $4,816,855

  • 2 · Savings and temporary cash investments

    beginning of year $1,455,649 · end of year $490,778

  • 3 · Pledges and grants receivable

    beginning of year $714,065 · end of year $606,226

  • 4 · Accounts receivable

    beginning of year $30,153 · end of year $44,805

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,298 · end of year $30,548

  • 10a · Land, buildings and equipment: cost or other basis

    $36,027

  • 10b · Land, buildings and equipment: accumulated depreciation

    $36,027

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $685,627 · end of year $24,407,806

  • 17 · Accounts payable and accrued expenses

    beginning of year $84,183 · end of year $133,461

  • 19 · Deferred revenue

    beginning of year $538,401 · end of year $1,514,879

  • 24 · Unsecured notes and loans payable

    beginning of year $1,004,749 · end of year $3,457,733

  • 25 · Other liabilities

    beginning of year $196,013 · end of year $318,589

  • 27 · Net assets without donor restrictions

    beginning of year $720,253 · end of year $848,936

  • 28 · Net assets with donor restrictions

    beginning of year $18,490,044 · end of year $24,123,420

Mission and programs · 2023

Mission

TO ASSIST SOUTHEAST ALASKAS PEOPLE, BUSINESSES, AND COMMUNITIES IN REACHING LONG-TERM ECONOMIC, SOCIAL, AND ENVIRONMENTAL RESILIENCE, AND IMPROVE ECONOMIC CONDITIONS IN SOUTHEAST ALASKA COMMUNITIES THROUGH INNOVATION, SUSTAINABILITY AND COLLABORATION. THE CDFI PROVIDES MICRO AND SMALL BUSINESS LOANS TO ELIGIBLE BORROWERS IN THOSE COMMUNITIES.

Activities or mission (Part I)

SPRUCE ROOT DRIVES REGENERATIVE ECONOMIES ACROSS SOUTHEAST ALASKA SO COMMUNITIES CAN FORGE FUTURES GROUNDED IN THIS UNIQUELY INDIGENOUS PLACE.

  • THE SUSTAINABLE SOUTHEAST PARTNERSHIP (SSP) IS A GROWING COLLABORATION OF ORGANIZATIONS AND INDIVIDUALS WHOSE COMMON GOAL IS TO EMPOWER SOUTHEAST ALASKAN COMMUNITIES TO STRENGTHEN CULTURAL, ECOLOGICAL AND ECONOMIC PROSPERITY, SUSTAINABILITY AND RESILIENCE. WE HAVE COME TOGETHER TO WORK COLLABORATIVELY THROUGH THIS PARTNERSHIP BECAUSE WE BELIEVE THAT WE CAN HAVE GREATER IMPACT BY WORKING TOGETHER ON THE COMPLEX CHALLENGES ASSOCIATED WITH COMMUNITY SUSTAINABILITY THAN BY WORKING ON OUR OWN.

    Expenses $1,988,787 · Grants $985,913 · Revenue $160,677

  • LENDING ACTIVITIES WERE EXECUTED AND SIGNIFICANT EFFORTS WERE COMMITTED TO SECURE ADDITIONAL FUNDING TO INCREASE AVAILABLE CAPITAL FOR LENDING TO ELIGIBLE BORROWERS.

    Expenses $335,285 · Grants $407 · Revenue $126,240

  • THE PATH TO PROSPERITY (P2P) PROGRAM IS A SUITE OF PROGRRAMS INCLUDING A BUSINESS COMPETITION THAT PROMOTES ENTREPRENEURIAL ACTIVITIES (TECHNICAL ASSISTANCE) IN ITS TARGET COMMUNITIES. OVER 350 BUSINESSES HAVE PARTICIPATED IN THE PROGRAM TO DATE.

    Expenses $812,101 · Grants $35,220 · Revenue $57,011

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • LESLIE ISAACSS

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • CHRIS PEREZ

    PRESIDENT, FINANCE COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5

  • JOE NELSON

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • NORMAN COHEN

    TREASURER, FINANCE COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5

  • ANTHONY MALLOTT

    BOARD MEMBER, TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • LA QUEN NAAY LIZ MEDICINE CROW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • SARAH DYBDAHL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • ALANA PETERSON

    EXECUTIVE DIRECTOR

    Total calculated
    $170,886
    From this org
    $143,556
    From related orgs
    $0
    Other
    $27,330
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $143,556
    Bonus
    $0
    Other
    $0
    Deferred
    $6,589
    Nontaxable benefits
    $20,741
    Filer's total
    $170,886

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • HOONAH INDIAN ASSOCIATION

    $345,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROJECT FUNDING

  • SITKA CONSERVATION SOCIETY

    $89,614

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • THE NATURE CONSERVANCY ALASKA CHAPTER

    $61,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • ECOTRUST

    $42,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • RENEWABLE ENERGY ALASKA PROJECT

    $42,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • KOOTZNOOWOO INCORPORATED

    $42,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • AWARE

    $42,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • SHAAN SEET

    $42,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • JILKAAT KWAAN HERITAGE CENTER

    $42,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • CENTRAL COUNCIL OF TLINGIT & HAIDA INDIAN TRIBES OF ALASKA (TLINGIT & HAIDA

    $42,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP PROGRAM FUNDING

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SEACOAST TRUST LLC

    INVESTMENT/FUND · AK · income $5,546,161 · assets $23,634,334

    Directly controlled by SPRUCE ROOT INC

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202443139349302829

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