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Nonprofiteer
← CROATAN INSTITUTE

Form 990 for tax year 2024

Filed by CROATAN INSTITUTE.

Totals

Total revenue
$1,201,287
Total expenses
$1,703,190
Contributions and grants received
$994,541
Grants paid
$750
Program service revenue
$171,577
Investment income
$34,670
Other revenue
$499
Total assets, end of year
$1,586,847
Total liabilities, end of year
$1,565,849
Net assets or fund balances, end of year
$20,998
Program services expenses (Part IX)
$1,248,440
Management and general expenses
$373,429
Fundraising expenses
$81,321
Program service expenses (Part III)
$1,248,440

Program services were 73.3% 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.

  • 1e · Government grants (contributions)

    $494,180

  • 1f · All other contributions, gifts and grants

    $500,361

  • 2a · Program service revenue: CONSULTING SERVICES

    total $99,358 · related or exempt $99,358

  • 2b · Program service revenue: FISCAL SPONSORSHIP REV

    total $65,454 · related or exempt $65,454

  • 2c · Program service revenue: EVENTS INCOME

    total $6,515 · related or exempt $6,515

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

    total $250 · related or exempt $250

  • 3 · Investment income

    total $33,679 · excluded $33,679

  • 7a · Gross sales of assets other than inventory

    securities $3,340

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

    securities $2,349

  • 7c · Gain or loss

    securities $991

  • 7d · Net gain or loss

    total $991 · excluded $991

  • 11a · Other revenue: REWARDS

    total $474 · excluded $474

  • 11b · Other revenue: LOAN GUARANTEE FEES

    total $25 · excluded $25

  • 11e · Other revenue, total

    $499

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $750 · program services $750

  • 5 · Compensation of officers, directors and key employees

    total $482,524 · program services $360,771 · management and general $109,600 · fundraising $12,153

  • 7 · Other salaries and wages

    total $590,768 · program services $419,778 · management and general $165,823 · fundraising $5,167

  • 8 · Pension plan contributions

    total $20,510 · program services $13,654 · management and general $6,591 · fundraising $265

  • 9 · Other employee benefits

    total $18,039 · program services $11,719 · management and general $6,070 · fundraising $250

  • 10 · Payroll taxes

    total $70,098 · program services $49,128 · management and general $19,747 · fundraising $1,223

  • 11c · Fees: accounting

    total $20,884 · management and general $20,884

  • 11e · Fees: professional fundraising services

    total $60,000 · fundraising $60,000

  • 11g · Fees: other

    total $280,253 · program services $278,223 · management and general $1,911 · fundraising $119

  • 12 · Advertising and promotion

    total $8,779 · program services $8,779

  • 13 · Office expenses

    total $23,189 · program services $16,253 · management and general $6,533 · fundraising $403

  • 14 · Information technology

    total $21,144 · program services $14,819 · management and general $5,956 · fundraising $369

  • 16 · Occupancy

    total $12,881 · program services $9,027 · management and general $3,629 · fundraising $225

  • 17 · Travel

    total $53,017 · program services $37,158 · management and general $14,935 · fundraising $924

  • 19 · Conferences, conventions and meetings

    total $29,824 · program services $26,725 · management and general $2,918 · fundraising $181

  • 20 · Interest

    total $8,167 · management and general $8,167

  • 23 · Insurance

    total $571 · program services $400 · management and general $161 · fundraising $10

  • 24a · Other expenses: STATE REGISTRATIONS

    total $850 · program services $596 · management and general $239 · fundraising $15

  • 24b · Other expenses: MEMBERSHIPS AND DUES

    total $619 · program services $434 · management and general $174 · fundraising $11

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

    total $323 · program services $226 · management and general $91 · fundraising $6

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $26,801 · end of year $40,944

  • 2 · Savings and temporary cash investments

    beginning of year $218,018 · end of year $795,052

  • 3 · Pledges and grants receivable

    beginning of year $618,335 · end of year $648,709

  • 4 · Accounts receivable

    beginning of year $32,811

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,924 · end of year $500

  • 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 $417,919 · end of year $100,792

  • 15 · Other assets

    beginning of year $850 · end of year $850

  • 17 · Accounts payable and accrued expenses

    beginning of year $180,472 · end of year $73,200

  • 19 · Deferred revenue

    beginning of year $115,126 · end of year $265,306

  • 21 · Escrow or custodial account liability

    beginning of year $217,230 · end of year $980,749

  • 22 · Loans and payables to officers and key people

    beginning of year $154,908 · end of year $131,389

  • 24 · Unsecured notes and loans payable

    beginning of year $120,700 · end of year $115,205

  • 27 · Net assets without donor restrictions

    beginning of year -$118,047 · end of year -$299,835

  • 28 · Net assets with donor restrictions

    beginning of year $646,269 · end of year $320,833

Mission and programs · 2024

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

  • ECOLOGICAL RESILIENCE - CONTINUED DEVELOPMENT OF THE NORTH CAROLINA SOIL WEALTH AREAS, PLACE-BASED FINANCING DISTRICTS THAT CONNECT REGENERATIVE AGRICULTURE PRODUCERS AND VALUE CHAIN BUSINESSES WITH ALIGNED CAPITAL AND TECHNICAL ASSISTANCE. ORGANIZED A CONVENING OF OVER 40 STAKEHOLDERS IN NC FOR A TWO-DAY WORKING SESSION FOR DEEP DISCUSSIONS, FIELD VISITS, AND TRUST BUILDING. LAUNCHED A NEW COHORT OF TEN FARMERS TO SUPPORT ON-FARM IMPLEMENTATION OF CONSERVATION PRACTICES, DEVELOP BUSINESS PLANS, AND CONNECT FARMERS TO ALIGNED CAPITAL. RELEASED A NEW REPORT, "MODELS AND OPPORTUNITIES FOR FINANCING GRAIN CHAINS IN THE MIDWEST." FINALIZED RESEARCH ON TWO PROJECTS, ONE ON AGROFORESTRY FINANCE AND ONE ON THE MARKET POTENTIAL OF THE NUTRITIONAL AND ECOSYSTEM BENEFITS OF REGENERATIVE AGRICULTURE WHICH WILL CULMINATE IN FORTHCOMING REPORTS TO BE RELEASED IN 2025. FINALIZED AND PREMIERED ITS FIRST-EVER SHORT FILM, "SOIL WEALTH: INVESTING IN REGENERATIVE AGRICULTURE," WHICH DEMONSTRATES EFFECTIVE PRACTICAL SOLUTIONS FOR FUNDING THE FUTURE OF RESILIENT AND SUSTAINABLE FOOD SYSTEMS.

    Expenses $423,490 · Revenue $58,219

  • SOCIAL EQUITY - CROATAN INSTITUTE WELCOMED OVER 30 FARMERS, TECHNICAL ASSISTANCE PROVIDERS, AND INVESTORS TO THE INAUGURAL FARMER STAKEHOLDER MEETING IN NORTH CAROLINA TO PROVIDE DIRECT ONE-ON-ONE SUPPORT AND ACCESS TO NEW PROGRAMS TO SUPPORT FARMERS AND LANDOWNERS' NEEDS. LED 6TH COHORT OF UNDERSERVED FARMERS IN NORTH CAROLINA, WHICH INCLUDED AN IN-PERSON WORKSHOP DAY CENTERED ON PERSONAL FINANCIAL SECURITY. BUILT THE FARMWISE HUB, A VIRTUAL PLATFORM OFFERING FREE, ONLINE WORKSHOPS ALONG WITH ONE-TO-ONE FINANCIAL COACHING TO ASSIST UNDERSERVED FARMERS, RANCHERS, AND LANDOWNERS BUILD STRONG FINANCIAL SYSTEMS THAT LEAD TO GREATER RESILIENCE AND IMPROVED ACCESS TO WEALTH-BUILDING OPPORTUNITIES. DEVELOPED THE NORTH CAROLINA EQUITABLE FOODSHED MAP, A RESOURCE TO SUPPORT FARMERS SEEKING TECHNICAL ASSISTANCE AND FINANCIAL SUPPORT. COMPILED A COLLECTION OF USDA RESOURCES AND BUILT AN AGRITOURISM DIRECTORY OF SMALL AND UNDERSERVED FARMS FOR THE FARMWISE PLATFORM.

    Expenses $414,760 · Grants $750 · Revenue $56,993

  • TRANSFORMATIVE FINANCE - CROATAN INSTITUTE RELEASED A NEW RAISER (RESEARCH, ACTION, AND INSIGHTS FOR SOCIAL AND ENVIRONMENTAL RETURNS) TOOL TO HIGHLIGHT THE INSTITUTE'S RIGOROUS INVESTMENT RESEARCH, INCLUDING A POWERFUL DATABASE OF INVESTABLE PRODUCTS ACROSS ASSET CLASSES. LAUNCHED TWO PUBLICLY AVAILABLE DATASETS ON THE INSTITUTE'S WEBSITE - A FOOD AND AGRICULTURE INVESTMENT DATASET HIGHLIGHTING INVESTIBLE OPPORTUNITIES ADVANCING SUSTAINABLE AND REGENERATIVE AGRICULTURE, AND A RACIAL EQUITY INVESTING DATASET HIGHLIGHTING INVESTIBLE PRODUCTS AND ADVISORS ADVANCING EQUITABLE OUTCOMES FOR COMMUNITIES AND ENTREPRENEURS OF COLOR. HOSTED THE BLAISE PROGRAM'S VIRTUAL LEARNING WEEK WITH OVER 80 STUDENT PARTICIPANTS REPRESENTING NEARLY FIFTY UNIVERSITIES AND COLLEGES TO LEARN FROM AND NETWORK WITH TWENTY-EIGHT INDUSTRY LEADERS IN THE IMPACT INVESTING SPACE.

    Expenses $410,190 · Revenue $56,365

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

Listed in Part VII

  • Joshua Humphreys

    PRESIDENT/CHAIR, SENIOR FELLOW

    Total calculated
    $149,901
    From this org
    $141,065
    From related orgs
    $0
    Other
    $8,836
    Hours/week
    40

  • Christi Electris

    ED, SR. FELLOW, AND BOARD DIRECTOR

    Total calculated
    $129,903
    From this org
    $127,354
    From related orgs
    $0
    Other
    $2,549
    Hours/week
    40

  • Sharlene Brown

    TREASURER (THRU NOV), SENIOR FELLOW

    Total calculated
    $120,404
    From this org
    $113,305
    From related orgs
    $0
    Other
    $7,099
    Hours/week
    30

  • Anna Aspenson

    DIRECTOR, SENIOR ASSOCIATE

    Total calculated
    $82,316
    From this org
    $77,109
    From related orgs
    $0
    Other
    $5,207
    Hours/week
    40

  • Abraham Jones

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • David Sand

    TREASURER (AS OF DECEMBER)

    Total calculated
    $0
    Hours/week
    0.75

  • William J Barber III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Gerardo Espinoza

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Masika Henson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Lisa Woll

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

  • No recipient named

    $1,248,440

    Disposition · EXPENDITURE OF ASSETS FOR EXEMPT PURPOSE · Dec 31, 2024

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202533189349314613

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