Spruce Root Inc
- Assets
- $3.0m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 11
- Location
- Juneau, AK
- Founding
- 02/2013
- Data as of
- 12/2021
- EIN
- 45-4295940
Organization Overview
Spruce Root Inc is located in Juneau, AK. The organization was established in 2013. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Spruce Root Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spruce Root Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Spruce Root Inc generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 34.5% each year . All expenses for the organization totaled $3.5m during the year ending 12/2021. While expenses have increased by 38.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Spruce Root Inc has awarded 20 individual grants totaling $768,275. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVING ECONOMIC CONDITIONS IN SOUTHEAST ALASKA COMMUNITIES THROUGH INNOVATION, SUSTAINABILITY, CAPACITY DEVELOPMENT AND COLLABORATION. THE CDFI PROVIDES MICRO AND SMALL BUSINESS LOANS TO ELIGIBLE BORROWERS IN THOSE COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SUSTAINABLE SOUTHEAST PARTNERSHIP (SSP) IS A GROWING COLLABORATION OF ORGANIZATIONS WHOSE COMMON GOAL IS TO EMPOWER SOUTHEAST ALASKAN COMMUNITIES TO DEVELOP 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.
DURING 2021, SPRUCE ROOT, INC. CONTINUED ITS LENDING ACTIVITIES AND COMMITTED SIGNIFICANT EFFORTS TO SECURE ADDITIONAL FUNDING TO INCREASE ITS AVAILABLE CAPITAL FOR LENDING TO ELIGIBLE BORROWERS IN SOUTHEAST ALASKA.
THE PATH TO PROSPERITY (P2P) PROGRAM IS A SUITE OF BUSINESS DEVELOPMENT/TECHNICAL ASSISTANCE SERVICES THAT PROMOTES ENTREPRENEURIAL ACTIVITIES IN ITS TARGET COMMUNITIES. COHORT-BASED SERVICES AND INDIVIDUALIZED COACHING IS INCLUDED IN THIS PROGRAM.
WORKFORCE DEVELOPMENT - HELD SOFT SKILLS TRAININGS AND CAREER COACHING TO SUPPORT INDIVIDUALS ON THEIR CAREER PATHWAYS; SUPPORTED YOUTH STEWARDSHIP CREWS ON AND OFF TONGASS NATIONAL FOREST LANDS. COMMUNITY PLANNING & FACILITATION - MANAGED AND FACILITATED COMMUNITY PLANNING PROCESSES IN COMMUNITIES ACROSS SOUTHEAST ALASKA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alana Peterson Executive Di | Officer | 35 | $111,615 |
Joe Nelson Board Secret | OfficerTrustee | 0.5 | $0 |
Norman Cohen Board Treasu | OfficerTrustee | 0.5 | $0 |
Leslie Issacs Board Chair | OfficerTrustee | 0.5 | $0 |
Christopher Perez Board Presid | OfficerTrustee | 0.5 | $0 |
Sarah Dybdahl Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Element Agency Content Create. | 12/30/21 | $1,090,000 |
Understory Creative Llc Marketing | 12/30/21 | $160,000 |
Midnight Run Llc Marketing | 12/30/21 | $309,168 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,740,145 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,468,601 |
| Noncash contributions included in lines 1a–1f | $250 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,208,746 |
| Total Program Service Revenue | $278,696 |
| Investment income | -$134 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $650 |
| Net Gain/Loss on Asset Sales | -$23,025 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,464,933 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $379,525 |
| Grants and other assistance to domestic individuals. | $117,848 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $132,633 |
| Compensation of current officers, directors, key employees. | $29,179 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $553,208 |
| Pension plan accruals and contributions | $16,647 |
| Other employee benefits | $60,323 |
| Payroll taxes | $53,713 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,263 |
| Fees for services: Accounting | $64,685 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,962,126 |
| Advertising and promotion | $5,652 |
| Office expenses | $33,889 |
| Information technology | $19,847 |
| Royalties | $0 |
| Occupancy | $5,423 |
| Travel | $22,521 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,219 |
| Interest | $22,359 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,766 |
| All other expenses | $0 |
| Total functional expenses | $3,457,340 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,929,370 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $269,365 |
| Accounts receivable, net | $151,919 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,958 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $595,891 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,965,503 |
| Accounts payable and accrued expenses | $50,071 |
| Grants payable | $0 |
| Deferred revenue | $675,981 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $851,905 |
| Other liabilities | $61,316 |
| Total liabilities | $1,639,273 |
| Net assets without donor restrictions | $600,080 |
| Net assets with donor restrictions | $726,150 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,965,503 |
Grants Awarded
Over the last fiscal year, Spruce Root Inc has awarded $379,525 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
Sitka, AK PURPOSE: CATALYST SUPPORT | $99,525 |
KLAWOCK COOPERATIVE ASSOCIATION PURPOSE: CATALYST SUPPORT | $40,000 |
Yakutat, AK PURPOSE: CATALYST SUPPORT | $40,000 |
HOONAH INDIAN ASSOCIATION PURPOSE: CATALYST SUPPORT | $40,000 |
CENTRAL COUNCIL OF TLINGIT & HAIDA PURPOSE: CATALYST SUPPORT | $30,000 |
Juneau, AK PURPOSE: CATALYST SUPPORT | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Spruce Root Inc has recieved totaling $1,259,554.
| Awarding Organization | Amount |
|---|---|
Rasmuson Foundation Anchorage, AK PURPOSE: SEACOAST TRUST ENDOWMENT | $1,000,000 |
Margaret A Cargill Foundation Eden Prairie, MN PURPOSE: CAPACITY BUILDING SUPPORT | $150,000 |
First Nations Oweesta Corporation Longmont, CO PURPOSE: MATCHING GRANT | $75,000 |
Opportunity Finance Network Philadelphia, PA PURPOSE: NATIVE CDFI SEED CAPITAL AWARD GRANT | $25,000 |
The@avista Foundation Spokane, WA PURPOSE: PATH TO PROSPERITY PROGRAMS | $9,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $54 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bristol Bay Economic Development Corporation Dillingham, AK | $306,219,768 | $32,445,568 |
Juneau Economic Development Council Juneau, AK | $7,391,243 | $19,704,575 |
Alaska Cabaret Hotel Restaurant & Retailers Association Anchorage, AK | $1,951,463 | $11,915,981 |
Spokane Area Workforce Development Council Spokane, WA | $1,735,015 | $9,993,306 |
South Central Workforce Development Council Union Gap, WA | $4,276,195 | $7,715,275 |
Visit Spokane Spokane, WA | $4,256,594 | $5,130,887 |
Spruce Root Inc Juneau, AK | $2,965,503 | $3,464,933 |
Angels For Angels Seattle, WA | $2,495,465 | $5,448,539 |
Koyuk Native Store Koyuk, AK | $1,287,215 | $2,898,870 |
Greater Seattle Partners Seattle, WA | $2,408,899 | $964,300 |
The Alliance For Pioneer Square Seattle, WA | $803,516 | $2,179,538 |
Economic Alliance Snohomish County Everett, WA | $2,270,851 | $2,266,401 |