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Nonprofiteer
← CROATAN INSTITUTE

Form 990 for tax year 2023

Filed by CROATAN INSTITUTE.

Totals

Total revenue
$1,999,080
Total expenses
$1,631,380
Contributions and grants received
$1,672,099
Grants paid
$10,450
Program service revenue
$297,805
Investment income
$29,135
Other revenue
$41
Total assets, end of year
$1,316,658
Total liabilities, end of year
$788,436
Net assets or fund balances, end of year
$528,222
Program services expenses (Part IX)
$1,205,791
Management and general expenses
$339,568
Fundraising expenses
$86,021
Program service expenses (Part III)
$1,205,791

Program services were 73.9% 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)

    $358,983

  • 1f · All other contributions, gifts and grants

    $1,313,116

  • 1g · Noncash contributions included above

    $3,278

  • 2a · Program service revenue: CONSULTING SERVICES

    total $206,204 · related or exempt $206,204

  • 2b · Program service revenue: EVENTS INCOME

    total $45,794 · related or exempt $45,794

  • 2c · Program service revenue: FISCAL SPONSORSHIP REV

    total $45,552 · related or exempt $45,552

  • 2d · Program service revenue: HONORARIA/SPEAKING FEE

    total $255 · related or exempt $255

  • 3 · Investment income

    total $28,796 · excluded $28,796

  • 7a · Gross sales of assets other than inventory

    securities $13,119

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

    securities $12,780

  • 7c · Gain or loss

    securities $339

  • 7d · Net gain or loss

    total $339 · excluded $339

  • 11a · Other revenue: LOAN GUARANTEE FEES

    total $25 · excluded $25

  • 11b · Other revenue: REWARDS

    total $16 · excluded $16

  • 11e · Other revenue, total

    $41

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,000 · program services $4,000

  • 2 · Grants to domestic individuals

    total $6,450 · program services $6,450

  • 5 · Compensation of officers, directors and key employees

    total $386,360 · program services $261,172 · management and general $114,671 · fundraising $10,517

  • 7 · Other salaries and wages

    total $517,640 · program services $384,194 · management and general $126,913 · fundraising $6,533

  • 8 · Pension plan contributions

    total $17,298 · program services $12,791 · management and general $4,287 · fundraising $220

  • 9 · Other employee benefits

    total $13,349 · program services $8,885 · management and general $4,330 · fundraising $134

  • 10 · Payroll taxes

    total $63,706 · program services $45,466 · management and general $17,054 · fundraising $1,186

  • 11b · Fees: legal

    total $23,596 · program services $16,840 · management and general $6,316 · fundraising $440

  • 11c · Fees: accounting

    total $21,731 · program services $3,231 · management and general $18,500

  • 11e · Fees: professional fundraising services

    total $65,000 · fundraising $65,000

  • 11g · Fees: other

    total $318,351 · program services $312,278 · management and general $5,969 · fundraising $104

  • 12 · Advertising and promotion

    total $13,899 · program services $13,899

  • 13 · Office expenses

    total $31,755 · program services $22,666 · management and general $8,498 · fundraising $591

  • 14 · Information technology

    total $8,486 · program services $6,056 · management and general $2,272 · fundraising $158

  • 16 · Occupancy

    total $11,395 · program services $8,132 · management and general $3,050 · fundraising $213

  • 17 · Travel

    total $40,445 · program services $28,865 · management and general $10,827 · fundraising $753

  • 19 · Conferences, conventions and meetings

    total $33,608 · program services $32,370 · management and general $1,158 · fundraising $80

  • 20 · Interest

    total $14,409 · management and general $14,409

  • 23 · Insurance

    total $3,765 · program services $2,687 · management and general $1,008 · fundraising $70

  • 24a · Other expenses: PROGRAM SUPPORT

    total $34,996 · program services $34,996 · management and general $0 · fundraising $0

  • 24b · Other expenses: BOOKS/SUBS/REFERENCE

    total $516 · program services $368 · management and general $138 · fundraising $10

  • 24c · Other expenses: MEMBERSHIPS AND DUES

    total $425 · program services $303 · management and general $114 · fundraising $8

  • 24d · Other expenses: BUSINESS REGISTRATION

    total $200 · program services $142 · management and general $54 · fundraising $4

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,953 · end of year $26,801

  • 2 · Savings and temporary cash investments

    beginning of year $234,105 · end of year $218,018

  • 3 · Pledges and grants receivable

    beginning of year $385,565 · end of year $618,335

  • 4 · Accounts receivable

    beginning of year $131,783 · end of year $32,811

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,854 · end of year $1,924

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

    $4,287

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

    $4,287

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $39,826 · end of year $417,919

  • 14 · Intangible assets

    beginning of year $17,110

  • 15 · Other assets

    beginning of year $850 · end of year $850

  • 17 · Accounts payable and accrued expenses

    beginning of year $103,604 · end of year $180,472

  • 19 · Deferred revenue

    beginning of year $8,069 · end of year $115,126

  • 21 · Escrow or custodial account liability

    beginning of year $208,571 · end of year $217,230

  • 22 · Loans and payables to officers and key people

    beginning of year $177,368 · end of year $154,908

  • 24 · Unsecured notes and loans payable

    beginning of year $120,700 · end of year $120,700

  • 27 · Net assets without donor restrictions

    beginning of year -$16,687 · end of year -$118,047

  • 28 · Net assets with donor restrictions

    beginning of year $229,421 · end of year $646,269

Mission and programs · 2023

Mission

CROATAN INSTITUTE IS AN INDEPENDENT, NONPROFIT RESEARCH AND ACTION INSTITUTE WHOSE MISSION IS TO BUILD SOCIAL EQUITY AND ECOLOGICAL RESILIENCE BY LEVERAGING FINANCE TO CREATE PATHWAYS TO A JUST ECONOMY.

Activities or mission (Part I)

TO BUILD SOCIAL EQUITY AND ECOLOGICAL RESILIENCE BY LEVERAGING FINANCE TO CREATE A JUST ECONOMY

  • SOCIAL EQUITY-HOSTED INAUGURAL DIVERSE LEADERS IN CLIMATE AND AGRICULTURE SUMMIT. COMPLETED THREE FINANCIAL HEALTH INVESTMENT WORKSHOPS ON LITERACY, BUSINESS PLANNING, AND TECHNICAL ASSISTANCE PROGRAM FOR FARMERS OF COLOR IN THE SOUTHEAST. LAUNCHED A MULTIYEAR PROJECT TO EXPAND FINANCIAL HEALTH INVESTMENT TECHNICAL ASSISTANCE AND RESOURCES TO UNDERSERVED FARMERS, RANCHERS, AND FORESTERS ACROSS NORTH CAROLINA. INCREASED PARTICIPATION OF BIPOC UNDERGRADUATE STUDENTS IN THE SUSTAINABLE AND IMPACT INVESTING FIELD THROUGH EDUCATIONAL WEBINARS AND COORDINATING PAID INTERNSHIPS WITH ORGANIZATIONAL PARTNERS FOR UNDERGRADUATE STUDENTS. CREATED A RESOURCE MAP FOR NORTH CAROLINA TO SUPPORT FARMERS SEEKING TECHNICAL AND FINANCIAL ASSISTANCE.

    Expenses $420,673 · Revenue $65,206

  • ECOLOGICAL RESILIENCE-CONTINUED DEVELOPMENT OF SOIL WEALTH AREAS, PLACE-BASED FINANCING DISTRICTS THAT CONNECT REGENERATIVE AGRICULTURE PRODUCERS AND VALUE CHAIN BUSINESSES WITH ALIGNED CAPITAL AND TECHNICAL ASSISTANCE. ADVISED FARMERS AND LANDOWNERS ON REGENERATIVE LAND MANAGEMENT AND CONSERVATION FINANCE STRATEGIES. LED A USDA CONSERVATION INNOVATION GRANT ON DEVELOPING A SMART FOOD CHAIN THAT EXPANDS MARKETS FOR REGENERATIVE AGRICULTURE BY CAPTURING THE NUTRITIONAL AND ECOSYSTEM BENEFITS OF THOSE PRACTICES. COLLABORATED ON A RURAL CLIMATE RESILIENCE PROJECT WITH REGIONAL COUNCILS OF GOVERNMENT, AN AGROFORESTRY FINANCING GUIDEBOOK, A REPORT ON FINANCING MIDWEST GRAIN VALUE CHAINS, AND RESOURCES TO SUPPORT AGRICULTURAL LENDER EDUCATION.

    Expenses $411,255 · Grants $10,450 · Revenue $107,132

  • TRANSFORMATIVE FINANCE-PUBLISHED TWO REPORTS: 1) ONE ON THE ESG RISKS AND SHORTCOMINGS OF THE FARM CREDIT SYSTEM AND, 2) ONE ON HOW FINANCE CAN ADDRESS THE MAJOR RISKS AND INCREASE THE RESILIENCE OF THE AGRICULTURAL INDUSTRY. COLLABORATED ON A REPORT ABOUT INDIGENIZING CATALYTIC CAPITAL. CONTINUED DEVELOPING THE SOIL WEALTH OPPORTUNITY POOL: A SUITE OF DE-RISKING MECHANISMS DESIGNED TO FACILITATE CONSTRUCTION OF BLENDED CAPITAL STACKS TO MAKE ACCESSING CAPITAL EASIER FOR REGENERATIVE AGRICULTURE PARTICIPANTS. LED A COHORT OF NONPROFITS TO EXPLORE OPPORTUNITIES TO INTEGRATE RACIAL EQUITY INVESTING INTO THEIR ASSET MANAGEMENT STRATEGIES AND USED THIS RESEARCH IN COMBINATION WITH THE INSTITUTE'S RESEARCH IN REGENERATIVE AGRICULTURE FOR PUBLICATION IN A WEB-BASED TOOL FOR INVESTMENT PROFESSIONALS.

    Expenses $373,863 · Revenue $125,467

As filed on the 2023 return.

Listed in Part VII

  • Joshua Humphreys

    PRESIDENT/CHAIR, SENIOR FELLOW

    Total calculated
    $114,181
    From this org
    $106,713
    From related orgs
    $0
    Other
    $7,468
    Hours/week
    40

  • Christi Electris

    SECRETARY, SENIOR FELLOW

    Total calculated
    $109,319
    From this org
    $105,955
    From related orgs
    $0
    Other
    $3,364
    Hours/week
    40

  • Sharlene Brown

    TREASURER, SENIOR FELLOW

    Total calculated
    $89,729
    From this org
    $83,579
    From related orgs
    $0
    Other
    $6,150
    Hours/week
    30

  • Anna Aspenson

    DIRECTOR, SENIOR ASSOCIATE

    Total calculated
    $73,131
    From this org
    $68,295
    From related orgs
    $0
    Other
    $4,836
    Hours/week
    40

  • Abraham Jones

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.3

  • William J Barber III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Gerardo Espinoza

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Masika Henson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • David Sand

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

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
2023
Filed
14 June 2024
IRS schema version
2023v5.0
Source object
202421669349301027

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