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Nonprofiteer
← SPRUCE ROOT INC

Form 990 for tax year 2022

Filed by SPRUCE ROOT INC.

Totals

Total revenue
$20,825,542
Total expenses
$2,913,388
Contributions and grants received
$20,605,679
Grants paid
$417,570
Program service revenue
$229,511
Investment income
$2,585
Other revenue
-$12,233
Total assets, end of year
$21,033,643
Total liabilities, end of year
$1,823,346
Net assets or fund balances, end of year
$19,210,297
Program services expenses (Part IX)
$2,189,656
Management and general expenses
$578,584
Fundraising expenses
$145,148
Program service expenses (Part III)
$2,189,656

Program services were 75.2% 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.

  • 1c · Fundraising events

    $18,400

  • 1e · Government grants (contributions)

    $1,268,068

  • 1f · All other contributions, gifts and grants

    $19,319,211

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

    total $146,611 · related or exempt $146,611

  • 2b · Program service revenue: CDFI LENDING

    total $82,900 · related or exempt $82,900

  • 3 · Investment income

    total $2,585 · excluded $2,585

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $18,400

  • 8b · Fundraising events: direct expenses

    $12,233

  • 8c · Net income from fundraising events

    total -$12,233 · excluded -$12,233

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $405,570 · program services $405,570

  • 2 · Grants to domestic individuals

    total $12,000 · program services $12,000

  • 5 · Compensation of officers, directors and key employees

    total $161,340 · program services $103,742 · management and general $42,916 · fundraising $14,682

  • 7 · Other salaries and wages

    total $987,770 · program services $635,136 · management and general $262,747 · fundraising $89,887

  • 8 · Pension plan contributions

    total $24,144 · program services $15,525 · management and general $6,422 · fundraising $2,197

  • 9 · Other employee benefits

    total $98,689 · program services $63,457 · management and general $26,251 · fundraising $8,981

  • 10 · Payroll taxes

    total $88,150 · program services $56,680 · management and general $23,448 · fundraising $8,022

  • 11b · Fees: legal

    total $44,801 · program services $32,221 · management and general $12,580

  • 11c · Fees: accounting

    total $85,705 · program services $61,640 · management and general $24,065

  • 11g · Fees: other

    total $541,198 · program services $389,233 · management and general $151,965

  • 13 · Office expenses

    total $139,376 · program services $80,994 · management and general $48,466 · fundraising $9,916

  • 16 · Occupancy

    total $8,374 · program services $5,385 · management and general $2,227 · fundraising $762

  • 17 · Travel

    total $127,246 · program services $92,301 · management and general $30,069 · fundraising $4,876

  • 20 · Interest

    total $21,318 · program services $21,318

  • 24a · Other expenses: TRAINING

    total $152,033 · program services $110,282 · management and general $35,926 · fundraising $5,825

  • 24b · Other expenses: INDIRECT COSTS ALLOCATI

    total $0 · program services $93,983 · management and general -$93,983

  • 24e · All other expenses

    total $15,674 · program services $10,189 · management and general $5,485

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,929,370 · end of year $18,141,851

  • 2 · Savings and temporary cash investments

    end of year $1,455,649

  • 3 · Pledges and grants receivable

    beginning of year $269,365 · end of year $714,065

  • 4 · Accounts receivable

    beginning of year $151,919 · end of year $30,153

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,958 · end of year $6,298

  • 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 $595,891 · end of year $685,627

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,071 · end of year $84,183

  • 19 · Deferred revenue

    beginning of year $675,981 · end of year $538,401

  • 24 · Unsecured notes and loans payable

    beginning of year $851,905 · end of year $1,004,749

  • 25 · Other liabilities

    beginning of year $61,316 · end of year $196,013

  • 27 · Net assets without donor restrictions

    beginning of year $600,080 · end of year $720,253

  • 28 · Net assets with donor restrictions

    beginning of year $726,150 · end of year $18,490,044

Mission and programs · 2022

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 $1,423,955 · Grants $388,720 · Revenue $146,611

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

    Expenses $235,924 · Revenue $82,900

  • 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 $416,001 · Grants $28,850

  • WORKFORCE DEVELOPMENT INITIATIVES INCLUDING CAREER COACHING AND SOFT SKILLS WORKSHOPS WERE HELD, AND COMMUNITY PLANNING AND FACILITATION ACTIVITIES WERE PERFORMED.

    Expenses $113,776

As filed on the 2022 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

    INVESTMENT COMMITTEE, SSP STEERING COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5

  • La Quen Nay Liz Medicine Crow

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Sarah Dybdahl

    BOARD MEMBER, INVESTMENT COMMITTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Alana Peterson

    EXECUTIVE DIRECTOR

    Total calculated
    $161,340
    From this org
    $143,447
    From related orgs
    $0
    Other
    $17,893
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $143,447
    Bonus
    $0
    Other
    $0
    Deferred
    $2,769
    Nontaxable benefits
    $15,124
    Filer's total
    $161,340

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

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

  • SITKA CONSERVATION SOCIETY

    $80,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • BARNACLE FOODS

    $40,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • ECOTRUST

    $40,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • RENEWABLE ENERGY ALASKA PROJECT

    $40,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • KLAWOCK COOPERATIVE ASSOCIATION

    $40,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • HOONAH INDIAN ASSOCIATION

    $40,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

  • ORGANIZED VILLAGE OF KAKE

    $36,540

    SUSTAINABLE SOUTHEAST PARTNERSHIP PROJECT FUNDING - ALASKAN YOUTH STEWARDS

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

    $35,224

    SUSTAINABLE SOUTHEAST PARTNERSHIP PROJECT FUNDING - ALASKAN YOUTH STEWARDS

  • SKAGWAY DEVELOPMENT CORPORATION

    $20,000

    SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING

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 $18,103,274 · assets $18,125,667

    Directly controlled by SPRUCE ROOT INC

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343189349314199

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