Roots Fund Incorporated
- Assets
- $135.4k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Stamford, CT
- Founding
- Data as of
- 12/2022
- EIN
- 85-2112719
Organization Overview
Roots Fund Incorporated is located in Stamford, 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.
For the year ending 12/2022, Roots Fund Incorporated generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 55.0% each year . All expenses for the organization totaled $1.1m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ROOTS FUND WAS CREATED TO EMPOWER THE BIPOC COMMUNITY IN THE WINE INDUSTRY BYPROVIDING RESOURCES AND FINANCIAL SUPPORT THROUGH EDUCATIONAL SCHOLARSHIPS, WINEEDUCATION, MENTORSHIP, AND JOB PLACEMENT. THE ROOTS FUND IS COMMITTED TO INVESTING INTHE BLACK, INDIGENOUS & LAT3
Describe the Organization's Program Activity:
Part 3 - Line 4a
4A. EDUCATIONAL SCHOLARSHIPS $206,455.47 (MINUS ENRICHMENT TRIPS)ROOTS FUND HAD A MONUMENTAL YEAR. OUR SCHOLARSHIPS INCREASED BY 50%, WITH OFFERING INTO THE COURT MASTERS SOMMELIER, WINE SCHOLARS GUILD, AND OFFERING COLLEGE TUITION TO UC DAVIS, CORNELL, AND FINGERLAKES COMMUNITY COLLEGE. WE EXECUTED A VARIETY OF TUTORING PROGRAMS IN ENGLISH AND SPANISH FOR HIGH SCHOOL AND PROFESSIONAL ADULTS. THIS WORK LANDED RECOGNITION IN THE NY TIMES FOR OUR CONTRIBUTIONS TO EDUCATION IN WINE FOR PEOPLE OF COLOR.
4B. CAREER DEVELOPMENT 80% OF THE SCHOLARS IN OUR PROGRAM WERE PLACED IN CAREERS IN WINE. NOT JUST JOBS, THAT WOULD REQUIRE MULTIPLE STREAMS OF INCOME TO SURVIVE BUT LUCRATIVE CAREERS. BUILDING EXTENSIVE CAREER PATHWAYS WITH LEVELS OF MENTORSHIP AND NETWORKING HAS BROUGHT GUARANTEED SUCCESS. PEOPLE OF COLOR NEEDED THE OPPORTUNITY, EDUCATION, AND SUPPORT. OUR ORGANIZATION HAS MANAGED TO PROVIDE ALL THOSE THINGS FOR OUR SCHOLARS. 40% OF OUR SCHOLARS LANDED IN EARLY MANAGEMENT ROLES THAT WILL LEAD TO PROMOTIONS WITHIN 18 MONTHS OF EMPLOYMENT.
4C. ENRICHMENT TRIPS $43,000 (PULLED FROM SCHOLARSHIP NUMBER)TO BE SUCCESSFUL IN CERTIFICATIONS AND KNOWLEDGE YOU MUST TRAVEL THE WINE WORLD. SCHOLARS TRAVELED TO BURGUNDY, CHAMPAGNE, NEW ZEALAND, SOUTH AFRICA, NAPA, AND FINGERLAKES. SCHOLARS LIVED IN THE REGIONS, STUDIED THE CULTURE, ATE THE FOOD, AND DRANK WINES WITH THE BEST PRODUCERS IN THE WORLD. THESE EXPERIENCES MAY HAVE BEEN THE FIRST TRAVEL EXCURSION FOR MANY SCHOLARS, BUT WE HOPE IT ISNT THE LAST. THESE ENRICHMENT TRIPS BRING THE BOOK STUDIES TO. LIFE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ikimi Dubose Executive Dir. | Trustee | 40 | $0 |
Tahiirah Allen Director | Officer | 10 | $0 |
Carlton Mccoy Jr Chairman | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $387,990 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $632,524 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,020,514 |
| 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 | $1,020,514 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $27,635 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $107,643 |
| Compensation of current officers, directors, key employees. | $85,335 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $154,833 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,391 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,899 |
| Fees for services: Accounting | $8,424 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,507 |
| Advertising and promotion | $34,047 |
| Office expenses | $12,519 |
| Information technology | $431 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $49,482 |
| 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 | $702 |
| Insurance | $15,298 |
| All other expenses | $837 |
| Total functional expenses | $1,065,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,140 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $104,973 |
| 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 | $933 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,375 |
| Total assets | $135,421 |
| 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 | $54,260 |
| Total liabilities | $54,260 |
| Net assets without donor restrictions | $81,161 |
| 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 | $135,421 |