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Nonprofiteer
← ROOTS FUND INCORPORATED

Form 990 for tax year 2024

Filed by ROOTS FUND INCORPORATED.

Totals

Total revenue
$302,899
Total expenses
$341,699
Contributions and grants received
$302,899
Grants paid
$102,068
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$6,471
Total liabilities, end of year
$29,029
Net assets or fund balances, end of year
-$22,558
Program services expenses (Part IX)
$179,208
Management and general expenses
$140,605
Fundraising expenses
$21,886
Program service expenses (Part III)
$179,208

Program services were 52.4% 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.

  • 1f · All other contributions, gifts and grants

    $302,899

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $102,068 · program services $102,068

  • 5 · Compensation of officers, directors and key employees

    total $49,557 · management and general $49,557

  • 10 · Payroll taxes

    total $6,622 · management and general $6,622

  • 11b · Fees: legal

    total $8,799 · management and general $8,799

  • 11c · Fees: accounting

    total $2,257 · management and general $2,257

  • 11g · Fees: other

    total $4,879 · management and general $4,788 · fundraising $91

  • 12 · Advertising and promotion

    total $16,545 · fundraising $16,545

  • 13 · Office expenses

    total $3,238 · management and general $3,238

  • 16 · Occupancy

    total $26,326 · management and general $26,326

  • 17 · Travel

    total $15,409 · management and general $15,409

  • 20 · Interest

    total $5,785 · management and general $5,785

  • 22 · Depreciation, depletion and amortization

    total $302 · management and general $302

  • 23 · Insurance

    total $8,723 · management and general $8,723

  • 24a · Other expenses: SCHOLARSHIP EXPENSES

    total $45,452 · program services $45,452

  • 24b · Other expenses: CONSULTING

    total $31,131 · program services $31,131

  • 24c · Other expenses: PHONE EXPENSES

    total $3,903 · management and general $3,903

  • 24d · Other expenses: CAR AND TRUCK

    total $3,603 · fundraising $3,603

  • 24e · All other expenses

    total $7,100 · program services $557 · management and general $4,896 · fundraising $1,647

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,591 · end of year $3,767

  • 4 · Accounts receivable

    beginning of year $103,771

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

    $4,312

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

    $1,608

  • 10c · Land, buildings and equipment, net

    beginning of year $3,006 · end of year $2,704

  • 15 · Other assets

    beginning of year $10,997 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $78,866 · end of year $29,029

  • 25 · Other liabilities

    beginning of year $35,087

  • 27 · Net assets without donor restrictions

    beginning of year $11,412 · end of year -$22,558

Mission and programs · 2024

Mission

THE ROOTS FUND WAS CREATED TO EMPOWER COMMUNITIES OF COLOR BY PROVIDING RESOURCES AND FINANCIAL SUPPORT THROUGH EDUCATIONAL SCHOLARSHIPS, WINE EDUCATION, MENTORSHIP, AND CAREER PLACEMENT. THE ROOTS FUND IS COMMITTED TO INVESTING IN COMMUNITIES OF COLOR TO PROVIDE OPPORTUNITIES TO THOSE SEEKING A CAREER/EDUCATION IN ALL ASPECTS OF WINE.

  • SCHOLARSHIPS REPRESENTED NEARLY HALF OF OUR ANNUAL INCOME, WITH INCREASED OFFERINGS IN THE WINE & SPIRITS EDUCATION TRUST. INCREASED REQUESTS FROM THE RESTAURANT SECTOR IN ORDER TO ELEVATE JOB PROMOTIONS PRESENTED AN INFLUX OF REQUESTS. WE MADE A COMMITMENT TO WASHINGTON STATE UNIVERSITY FOR AN INVESTMENT IN MORE COST-EFFECTIVE COLLEGE PROGRAMS. THIS ALLOWED FOR AN INCREASE OF 30% IN SCHOLARS IN COLLEGE TUITION.

    Expenses $102,068 · Grants $102,068

  • LESS THAN 25% OF PEOPLE OF COLOR HOLD PASSPORTS IN THE UNITED STATES. THIS YEAR, WE HELPED 25 SCHOLARS GAIN THEIR PASSPORTS FOR THE FIRST TIME. BEING ABLE TO TRAVEL TO EXPLORE WINE & SPIRITS CAN BE GAME-CHANGING FOR THEIR CAREER TRAJECTORY. SCHOLARS RESIDE IN THE REGION FROM 2 WEEKS TO 3 MONTHS, STUDYING CULTURE, FOOD, AND BEVERAGES LIKE THE LOCAL COMMUNITY. THE TRIPS DO PROVIDE A LEVEL OF EDUCATION THAT CAN'T BE TAUGHT IN BOOKS, BUT A LIFE LESSON THAT WILL LAST A LIFETIME.

    Expenses $46,009

  • AFTER Q2, WE HAD TO LAY OFF OUR TEAM DUE TO MAJOR FUNDING LOSSES. WE HAD TO REIMAGINE OUR PROGRAMMING TO KEEP THE DOORS OPEN. WE RESORTED TO USING CONSULTANTS, RATHER THAN FULL/PART TIME EMPLOYEES. IT ALLOWED US TO STILL PROVIDE SERVICES AND UTILIZE PEOPLE AT THE TOP OF THEIR FIELD WITHOUT THE EXPENSE OF PAYROLL AND BENEFITS. IT FORCED A PIVOT TO TAP INTO RESOURCES WITHIN THE NONPROFIT COMMUNITY. WE CONTINUED TO SERVICE THE COMMUNITY AND GAIN A NEW SET OF SUPPORT SERVICES.

    Expenses $31,131

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ikimi Woodson

    EXECUTIVE DIRECTOR

    Total calculated
    $60,747
    From this org
    $60,747
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Carlton McCoy Jr

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Michelle Michon

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • Jeremy Seysses

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Santosh Varghese

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202533219349322593

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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