Roots Fund Incorporated
- Assets
- $204.7k
- Revenue
- $274.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Meriden, CT
- Founding
- Data as of
- 12/2020
- EIN
- 85-2112719
Organization Overview
Roots Fund Incorporated is located in Meriden, CT. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Roots Fund Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE ROOTS FUND WAS CREATED TO EMPOWER THE BIPOC COMMUNITY IN THE WINE INDUSTRY BY PROVIDING RESOURCES AND FINANCIAL SUPPORT THROUGH EDUCATIONAL SCHOLARSHIPS, WINE EDUCATION, MENTORSHIP, AND JOB PLACEMENT. THE ROOTS FUND IS COMMITTED TO INVESTING IN THE BLACK, INDIGENOUS & LATINX WINE COMMUNITY TO PROVIDE OPPORTUNITIES TO THOSE SEEKING A CAREER/EDUCATION IN ALL ASPECTS OF WINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
10 SCHOLARSHIPS GRANTED FOR WINE EDUCATION PROGRAMS
10 SCHOLARSHIPS GRANTED FOR WINE EDUCATION PROGRAMS
10 SCHOLARSHIPS GRANTED FOR WINE EDUCATION PROGRAMS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ikimi Dubose Executive Dir. | Trustee | 20 | $1,320 |
Carlton Mccoy Jr Chairman | Officer | 10 | $0 |
Tahiirah Allen Director | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $274,299 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $274,299 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $274,299 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $49,540 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,320 |
| Compensation of current officers, directors, key employees. | $660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $143 |
| Fees for services: Management | $8,029 |
| Fees for services: Legal | $110 |
| Fees for services: Accounting | $795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,471 |
| Advertising and promotion | $976 |
| Office expenses | $240 |
| Information technology | $2,127 |
| Royalties | $0 |
| Occupancy | $1,420 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $454 |
| Conferences, conventions, and meetings | $251 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $103 |
| All other expenses | $0 |
| Total functional expenses | $69,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,689 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $204,689 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Other liabilities | $93 |
| Total liabilities | $93 |
| Net assets without donor restrictions | $204,596 |
| Net assets with donor restrictions | $0 |
| 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 | $204,689 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Roots Fund Incorporated has recieved totaling $109,813.
| Awarding Organization | Amount |
|---|---|
The Chicago Community Trust Chicago, IL PURPOSE: GENERAL OPERATING SUPPORT | $104,813 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Workforce Development Institute Inc Albany, NY | $2,796,326 | $10,204,057 |
Vhs Inc Maynard, MA | $2,159,485 | $7,029,751 |
United For Respect Education Fund Brooklyn, NY | $7,552,270 | $7,410,651 |
1st Street Foundation Inc Brooklyn, NY | $4,623,074 | $8,726,760 |
More Than Words Inc Boston, MA | $15,091,779 | $6,459,719 |
West Bay Collaborative Inc Warwick, RI | $2,617,303 | $5,710,370 |
Leading Edge Alliance Inc New York, NY | $10,397,327 | $8,264,467 |
Connecticut Center For Arts & Technology Inc New Haven, CT | $3,075,426 | $11,576,748 |
Read To Lead Inc New York, NY | $3,901,385 | $3,177,958 |
Foundation For Civic Leadership Inc Cambridge, MA | $2,419,879 | $3,718,020 |
Resource Training Center Inc Staten Island, NY | $1,509,183 | $2,732,050 |
Institute Of Classical Architecture And Art Inc New York, NY | $5,800,944 | $3,154,717 |