Three Roots Capital
- Assets
- $176.3m
- Revenue
- $3.8m
- Investments
- $450.0k
- Employees
- 8
- Location
- Knoxville, TN
- Founding
- 11/1996
- Data as of
- 12/2023
- EIN
- 62-1624472
Organization Overview
Three Roots Capital is located in Knoxville, TN. The organization was established in 1996. 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, Three Roots Capital employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Three Roots Capital 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, Three Roots Capital generated $3.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 2.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ACCESS TO CAPITAL AND BUSINESS COACHING THAT CREATE SUCCESSFUL OUTCOMES FOR CLIENTS AND PARTNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOAN AND INVESTMENT PROGRAMS - THREE ROOTS CAPITAL MAKES LOANS AND INVESTMENTS TO QUALIFIED COMPANIES AND PROJECTS IN UNDERSERVED AND DISTRESSED AREAS OF EAST TENNESSEE AND BROADER SOUTHERN AND CENTRAL APPALACHIA. IN ADDITION TO SATISFYING UNDERWRITING REQUIREMENTS, COMPANIES AND PROJECTS MUST PROVIDE A MEASURABLE POSITIVE COMMUNITY IMPACT OR OUTCOME. THESE ACTIVITIES GENERALLY ARE FOCUSED ON JOB CREATING SMALL BUSINESS, PLACE MAKING COMMERCIAL REAL ESTATE PROJECTS, OR AFFORDABLE HOUSING.
BUSINESS COACHING - THREE ROOTS CAPITAL PROVIDES BUSINESS COACHING TO CLIENT COMPANIES AND COMMUNITY PARTNERS THROUGH TECHNICAL ASSISTANCE, MENTORSHIP, COACHING, AND OTHER ENGAGEMENT ACTIVITIES.
CAPITAL SERVICES - THREE ROOTS CAPITAL PROVIDES PROFESSIONAL SERVICES TO IMPACT-FOCUSED AND COMMUNITY DEVELOPMENT FOCUSED PRIVATE EQUITY AND VENTURE CAPITAL FUNDS. THIS ACTIVIITY INCLUDES ADMINISTRATION, BUSINESS DEVELOPMENT, COMPLIANCE, DUE DILIGENCE, PORTFOLIO MANAGEMENT, AND REPORTING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Grady Vanderhoofven President & CEO | OfficerTrustee | 40 | $398,772 |
L Ray Moncrief Director | Trustee | 1 | $0 |
Fred Tompkins Director | Trustee | 1 | $0 |
Marianne Wanamaker Director | Trustee | 1 | $0 |
David Bradshaw Chairman | OfficerTrustee | 1 | $0 |
Chris Miller Treasurer/secretary | Officer | 40 | $198,925 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $216,642 |
| All other contributions, gifts, grants, and similar amounts not included above | $96,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $312,642 |
| Total Program Service Revenue | $3,480,392 |
| Investment income | $54,669 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$93,312 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,754,391 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $797,835 |
| Pension plan accruals and contributions | $30,686 |
| Other employee benefits | $181,396 |
| Payroll taxes | $60,311 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,821 |
| Advertising and promotion | $44,161 |
| Office expenses | $45,170 |
| Information technology | $46,956 |
| Royalties | $0 |
| Occupancy | $100,935 |
| Travel | $16,568 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2 |
| Insurance | $94,118 |
| All other expenses | $72 |
| Total functional expenses | $2,155,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,579,620 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $84,852 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $89,006,594 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $133,796 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $449,999 |
| Investments—program-related | $0 |
| Intangible assets | $404,654 |
| Other assets | $84,634,752 |
| Total assets | $176,294,267 |
| Accounts payable and accrued expenses | $264,340 |
| Grants payable | $0 |
| Deferred revenue | $351,926 |
| 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 | $168,723,329 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $404,654 |
| Total liabilities | $169,744,249 |
| Net assets without donor restrictions | $6,550,018 |
| 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 | $176,294,267 |
Grants Awarded
Over the last fiscal year, Three Roots Capital has awarded $92,544 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
USFIRST PURPOSE: FOR SHARED EVENT EXPENSES | $92,544 |