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Nonprofiteer
← RUNWAY ROOT INC

Form 990 for tax year 2024

Filed by RUNWAY ROOT INC.

Totals

Total revenue
$4,398,731
Total expenses
$3,976,729
Contributions and grants received
$3,942,384
Grants paid
$559,045
Program service revenue
$414,299
Investment income
$42,048
Other revenue
$0
Total assets, end of year
$8,195,363
Total liabilities, end of year
$5,457,359
Net assets or fund balances, end of year
$2,738,004
Program services expenses (Part IX)
$2,317,153
Management and general expenses
$1,315,561
Fundraising expenses
$344,015
Program service expenses (Part III)
$2,317,153

Program services were 58.3% 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

    $3,942,384

  • 2a · Program service revenue: MANAGEMENT FEES

    total $414,299 · related or exempt $414,299

  • 3 · Investment income

    total $42,048 · related or exempt $42,048

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $559,045 · program services $559,045

  • 5 · Compensation of officers, directors and key employees

    total $199,055 · management and general $199,055

  • 7 · Other salaries and wages

    total $1,283,223 · program services $875,508 · management and general $278,869 · fundraising $128,846

  • 9 · Other employee benefits

    total $109,481 · program services $77,015 · management and general $23,582 · fundraising $8,884

  • 10 · Payroll taxes

    total $112,895 · program services $67,943 · management and general $34,816 · fundraising $10,136

  • 11a · Fees: management

    total $120,721 · program services $46,596 · management and general $74,125

  • 11b · Fees: legal

    total $268 · management and general $268

  • 11c · Fees: accounting

    total $44,524 · management and general $44,524

  • 12 · Advertising and promotion

    total $45,370 · program services $31,692 · management and general $13,399 · fundraising $279

  • 14 · Information technology

    total $39,106 · program services $12,452 · management and general $26,654

  • 17 · Travel

    total $138,493 · program services $44,056 · management and general $82,190 · fundraising $12,247

  • 20 · Interest

    total $8,556 · program services $8,556

  • 24a · Other expenses: CONSULTING EXPENSE

    total $839,516 · program services $485,918 · management and general $185,883 · fundraising $167,715

  • 24b · Other expenses: EDUCATION AND AWARENESS

    total $391,996 · program services $57,411 · management and general $319,975 · fundraising $14,610

  • 24c · Other expenses: LOSS ON GUARANTEES

    total $30,366 · program services $30,366

  • 24d · Other expenses: ADMINISTRATIVE EXPENSE

    total $29,514 · program services $5,471 · management and general $22,745 · fundraising $1,298

  • 24e · All other expenses

    total $24,600 · program services $15,124 · management and general $9,476

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,230,033 · end of year $6,797,311

  • 3 · Pledges and grants receivable

    beginning of year $555,000 · end of year $700,000

  • 7 · Other notes and loans receivable

    end of year $678,442

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,072 · end of year $19,610

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $86,056 · end of year $104,746

  • 18 · Grants payable

    beginning of year $330,000 · end of year $330,000

  • 24 · Unsecured notes and loans payable

    end of year $5,008,556

  • 25 · Other liabilities

    beginning of year $54,047 · end of year $14,057

  • 27 · Net assets without donor restrictions

    beginning of year $1,303,041 · end of year $1,179,302

  • 28 · Net assets with donor restrictions

    beginning of year $1,012,961 · end of year $1,558,702

Mission and programs · 2024

Mission

TO PROVIDE SUPPORT TO UNDERSERVED ENTREPRENEURS AND THEIR COMMUNITIES THROUGH LOAN AND EDUCATIONAL PROGRAMS WHICH SUPPORT THEIR BUSINESSES.

  • RUNWAY PROJECT PROJECT MISSION: RUNWAY IS COMMITTED TO ADVANCING BLACK RESILIENCY FOR BLACK BUSINESSES AND THE COMMUNITIES THEY SERVE BY BUILDING EMERGENT FINANCIAL PRACTICES AND INFRASTRUCTURE THAT CLOSES THE RACIAL WEALTH GAP FOR GOOD.

    Expenses $2,317,153 · Grants $559,045 · Revenue $456,347

As filed on the 2024 return.

Listed in Part VII

  • JESSICA NORWOOD

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $199,055
    From this org
    $199,055
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,055
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $199,055

  • TEUMBAY TEE BARNES

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • TERESA FOX BETTIS

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • ARIANNA MCARTHER

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • AISHA BLACKMAN

    EMPLOYEE

    Total calculated
    $150,000
    From this org
    $150,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • JAMICA EL

    EMPLOYEE

    Total calculated
    $150,000
    From this org
    $150,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • LAURIKA HARRIS-KAYE

    EMPLOYEE

    Total calculated
    $150,000
    From this org
    $150,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • NAIMA M MCQUEEN

    EMPLOYEE

    Total calculated
    $150,000
    From this org
    $150,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • NINA C ROBINSON

    EMPLOYEE

    Total calculated
    $150,000
    From this org
    $150,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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 · Written employment contract

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

The filer's explanations (Part III)

FORM 990, SCHEDULE J, LINE 3
THE EXECUTIVE DIRECTOR'S COMPENSATION WAS ESTABLISHED UNDER THE TERMS OF A WRITTEN EMPLOYMENT AGREEMENT EFFECTIVE OCTOBER 22, 2020.

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

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.

  • RUNWAY INVESTMENT ADVISORY LLC

    ASSET MANAGEMENT · DE · income $0 · assets $0

    Directly controlled by EVERYDAY PEOPLE FOR CHANGE INC

  • ROOTED FUND LLC

    INVESTMENT FUND · DE · income $4,108 · assets $4,986,516

    Directly controlled by EVERYDAY PEOPLE FOR CHANGE

Provenance

Return type
form_990
Tax year
2024
Filed
23 October 2025
IRS schema version
2024v5.2
Source object
202512969349301046

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