Spruce Root Inc
- Assets
- $30.4m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 22
- Location
- Juneau, AK
- Founding
- 02/2013
- Data as of
- 12/2023
- 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 12/2023, Spruce Root Inc employed 22 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 12/2023, Spruce Root Inc generated $8.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 45.8% each year . All expenses for the organization totaled $4.0m during the year ending 12/2023. While expenses have increased by 35.5% per year over the past 8 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 45 individual grants totaling $2,045,337. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SPRUCE ROOT DRIVES REGENERATIVE ECONOMIES ACROSS SOUTHEAST ALASKA SO COMMUNITIES CAN FORGE FUTURES GROUNDED IN THIS UNIQUELY INDIGENOUS PLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
LENDING ACTIVITIES WERE EXECUTED AND SIGNIFICANT EFFORTS WERE COMMITTED TO SECURE ADDITIONAL FUNDING TO INCREASE AVAILABLE CAPITAL FOR LENDING TO ELIGIBLE BORROWERS.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Isaacss Chair | OfficerTrustee | 0.5 | $0 |
Chris Perez President, Finance Committee | OfficerTrustee | 0.5 | $0 |
Joe Nelson Secretary | OfficerTrustee | 0.5 | $0 |
Norman Cohen Treasurer, Finance Committee | OfficerTrustee | 0.5 | $0 |
Anthony Mallott Board Member, Treasurer | OfficerTrustee | 0.5 | $0 |
La Quen Naay Liz Medicine Crow Board Member | 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 | $2,169,516 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,708,162 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,877,678 |
| Total Program Service Revenue | $286,917 |
| Investment income | $678,888 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,927 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,914,190 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,001,540 |
| Grants and other assistance to domestic individuals. | $20,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $170,885 |
| Compensation of current officers, directors, key employees. | $43,239 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,363,020 |
| Pension plan accruals and contributions | $41,667 |
| Other employee benefits | $156,886 |
| Payroll taxes | $117,550 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,725 |
| Fees for services: Accounting | $63,797 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $65,641 |
| Fees for services: Other | $415,272 |
| Advertising and promotion | $0 |
| Office expenses | $121,066 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,602 |
| Travel | $153,211 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $32,807 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $40,994 |
| Total functional expenses | $3,997,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,816,855 |
| Savings and temporary cash investments | $490,778 |
| Pledges and grants receivable | $606,226 |
| Accounts receivable, net | $44,805 |
| 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 | $30,548 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $24,407,806 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,397,018 |
| Accounts payable and accrued expenses | $133,461 |
| Grants payable | $0 |
| Deferred revenue | $1,514,879 |
| 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 | $3,457,733 |
| Other liabilities | $318,589 |
| Total liabilities | $5,424,662 |
| Net assets without donor restrictions | $848,936 |
| Net assets with donor restrictions | $24,123,420 |
| 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 | $30,397,018 |
Grants Awarded
Over the last fiscal year, Spruce Root Inc has awarded $905,298 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
CENTRAL COUNCIL OF TLINGIT & HAIDA INDIAN TRIBES OF ALASKA (TLINGIT & HAIDA PURPOSE: SUSTAINABLE SOUTHEAST PARTNERSHIP PROGRAM FUNDING | $42,000 |
HOONAH INDIAN ASSOCIATION PURPOSE: SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING | $42,000 |
SKAGWAY DEVELOPMENT CORPORATION PURPOSE: SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING | $14,070 |
BARNACLE FOODS PURPOSE: SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING | $42,000 |
ECOTRUST PURPOSE: SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING | $42,000 |
RENEWABLE ENERGY ALASKA PROJECT PURPOSE: SUSTAINABLE SOUTHEAST PARTNERSHIP CATALYST - PROGRAM FUNDING | $42,000 |