Croatan Institute
- Assets
- $1.3m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 14
- Location
- Durham, NC
- Founding
- 10/2014
- Data as of
- 12/2023
- EIN
- 46-3673347
Organization Overview
Croatan Institute is located in Durham, NC. The organization was established in 2014. According to its NTEE Classification (C30) the organization is classified as: Natural Resources Conservation & Protection, under the broad grouping of Environment and related organizations. As of 12/2023, Croatan Institute employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Croatan Institute 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, Croatan Institute generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 28.5% each year . All expenses for the organization totaled $1.6m during the year ending 12/2023. While expenses have increased by 24.4% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD SOCIAL EQUITY AND ECOLOGICAL RESILIENCE BY LEVERAGING FINANCE TO CREATE A JUST ECONOMY
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOCIAL EQUITY-HOSTED INAUGURAL DIVERSE LEADERS IN CLIMATE AND AGRICULTURE SUMMIT. COMPLETED THREE FINANCIAL HEALTH INVESTMENT WORKSHOPS ON LITERACY, BUSINESS PLANNING, AND TECHNICAL ASSISTANCE PROGRAM FOR FARMERS OF COLOR IN THE SOUTHEAST. LAUNCHED A MULTIYEAR PROJECT TO EXPAND FINANCIAL HEALTH INVESTMENT TECHNICAL ASSISTANCE AND RESOURCES TO UNDERSERVED FARMERS, RANCHERS, AND FORESTERS ACROSS NORTH CAROLINA. INCREASED PARTICIPATION OF BIPOC UNDERGRADUATE STUDENTS IN THE SUSTAINABLE AND IMPACT INVESTING FIELD THROUGH EDUCATIONAL WEBINARS AND COORDINATING PAID INTERNSHIPS WITH ORGANIZATIONAL PARTNERS FOR UNDERGRADUATE STUDENTS. CREATED A RESOURCE MAP FOR NORTH CAROLINA TO SUPPORT FARMERS SEEKING TECHNICAL AND FINANCIAL ASSISTANCE.
ECOLOGICAL RESILIENCE-CONTINUED DEVELOPMENT OF SOIL WEALTH AREAS, PLACE-BASED FINANCING DISTRICTS THAT CONNECT REGENERATIVE AGRICULTURE PRODUCERS AND VALUE CHAIN BUSINESSES WITH ALIGNED CAPITAL AND TECHNICAL ASSISTANCE. ADVISED FARMERS AND LANDOWNERS ON REGENERATIVE LAND MANAGEMENT AND CONSERVATION FINANCE STRATEGIES. LED A USDA CONSERVATION INNOVATION GRANT ON DEVELOPING A SMART FOOD CHAIN THAT EXPANDS MARKETS FOR REGENERATIVE AGRICULTURE BY CAPTURING THE NUTRITIONAL AND ECOSYSTEM BENEFITS OF THOSE PRACTICES. COLLABORATED ON A RURAL CLIMATE RESILIENCE PROJECT WITH REGIONAL COUNCILS OF GOVERNMENT, AN AGROFORESTRY FINANCING GUIDEBOOK, A REPORT ON FINANCING MIDWEST GRAIN VALUE CHAINS, AND RESOURCES TO SUPPORT AGRICULTURAL LENDER EDUCATION.
TRANSFORMATIVE FINANCE-PUBLISHED TWO REPORTS: 1) ONE ON THE ESG RISKS AND SHORTCOMINGS OF THE FARM CREDIT SYSTEM AND, 2) ONE ON HOW FINANCE CAN ADDRESS THE MAJOR RISKS AND INCREASE THE RESILIENCE OF THE AGRICULTURAL INDUSTRY. COLLABORATED ON A REPORT ABOUT INDIGENIZING CATALYTIC CAPITAL. CONTINUED DEVELOPING THE SOIL WEALTH OPPORTUNITY POOL: A SUITE OF DE-RISKING MECHANISMS DESIGNED TO FACILITATE CONSTRUCTION OF BLENDED CAPITAL STACKS TO MAKE ACCESSING CAPITAL EASIER FOR REGENERATIVE AGRICULTURE PARTICIPANTS. LED A COHORT OF NONPROFITS TO EXPLORE OPPORTUNITIES TO INTEGRATE RACIAL EQUITY INVESTING INTO THEIR ASSET MANAGEMENT STRATEGIES AND USED THIS RESEARCH IN COMBINATION WITH THE INSTITUTE'S RESEARCH IN REGENERATIVE AGRICULTURE FOR PUBLICATION IN A WEB-BASED TOOL FOR INVESTMENT PROFESSIONALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Humphreys President/chair, Senior Fellow | OfficerTrustee | 40 | $106,713 |
Christi Electris Secretary, Senior Fellow | OfficerTrustee | 40 | $105,955 |
Sharlene Brown Treasurer, Senior Fellow | OfficerTrustee | 30 | $83,579 |
Anna Aspenson Director, Senior Associate | Trustee | 40 | $68,295 |
Abraham Jones Vice President | OfficerTrustee | 0.3 | $0 |
William J Barber III Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $358,983 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,313,116 |
| Noncash contributions included in lines 1a–1f | $3,278 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,672,099 |
| Total Program Service Revenue | $297,805 |
| Investment income | $28,796 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $339 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,999,080 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,000 |
| Grants and other assistance to domestic individuals. | $6,450 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $386,360 |
| Compensation of current officers, directors, key employees. | $114,671 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $517,640 |
| Pension plan accruals and contributions | $17,298 |
| Other employee benefits | $13,349 |
| Payroll taxes | $63,706 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,596 |
| Fees for services: Accounting | $21,731 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $65,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $318,351 |
| Advertising and promotion | $13,899 |
| Office expenses | $31,755 |
| Information technology | $8,486 |
| Royalties | $0 |
| Occupancy | $11,395 |
| Travel | $40,445 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,608 |
| Interest | $14,409 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,765 |
| All other expenses | $0 |
| Total functional expenses | $1,631,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,801 |
| Savings and temporary cash investments | $218,018 |
| Pledges and grants receivable | $618,335 |
| Accounts receivable, net | $32,811 |
| 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 | $1,924 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $417,919 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $850 |
| Total assets | $1,316,658 |
| Accounts payable and accrued expenses | $180,472 |
| Grants payable | $0 |
| Deferred revenue | $115,126 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $217,230 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $154,908 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $120,700 |
| Other liabilities | $0 |
| Total liabilities | $788,436 |
| Net assets without donor restrictions | -$118,047 |
| Net assets with donor restrictions | $646,269 |
| 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 | $1,316,658 |