Overview
What is Spruce Root Inc?
Spruce Root Inc, located in Juneau, Alaska, is a nonprofit partnership comprised of organizations and individuals who share the goal of empowering Southeast Alaska communities to thrive culturally, ecologically, and economically. With a mission to drive regenerative economies across Southeast Alaska, Spruce Root strives to help communities build sustainable, resilient futures rooted in their unique indigenous place. The organization aims to assist people, businesses, and communities in Southeast Alaska in achieving long-term economic, social, and environmental resilience. Through innovation, sustainability, and collaboration, Spruce Root provides micro and small business loans to eligible borrowers in these communities via its CDFI program. The team at Spruce Root consists of 17 dedicated employees.
Official website here: www.spruceroot.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 97% (Four-Star out of Four Star rating)
Spruce Root Inc has achieved an impressive 97% score on Charity Navigator, showcasing its strong commitment to accountability and financial management. The organization boasts an exemplary accountability score, with an independent board comprising all members and a range of policies in place to ensure transparency in operations. The absence of any material diversion of assets further signifies its integrity.
The nonprofit demonstrates efficiency in its financial practices, with 81.70% of its expenses allocated directly to programs and a low fundraising efficiency ratio of $0.012. These metrics indicate that the organization is effective in utilizing its resources to further its mission, while also maintaining a healthy working capital ratio of 6.98 years, ensuring sustainability for future initiatives.
However, while the financial aspects are robust, the fundraising efficiency could indicate a need for improvement in their strategies to enhance funds raised relative to expenses. Overall, Spruce Root Inc stands out as a well-managed nonprofit with a high level of accountability, although there is room for optimizing fundraising efforts.
This AI summary has been generated from information found on Charity Navigator.
Is Spruce Root Inc legitimate?
Spruce Root Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Spruce Root Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $170,885
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,363,020
For more financial information, click here
Official website here: www.spruceroot.org
What is the mission statement of Spruce Root Inc?
Spruce Root Inc is dedicated to helping people, businesses, and communities in Southeast Alaska achieve long-term economic, social, and environmental resilience. Through innovation, sustainability, and collaboration, the organization aims to improve economic conditions in Southeast Alaska. Spruce Root Inc provides micro and small business loans to eligible borrowers in these communities, acting as a Community Development Financial Institution (CDFI). Their mission extends beyond individual organizations as they collaborate with various groups through the Sustainable Southeast Partnership to empower Southeast Alaska communities and strengthen their cultural, ecological, and economic prosperity. By working together, they believe they can have a greater impact on community sustainability than working independently.
Official website here: www.spruceroot.org
What is the revenue of Spruce Root Inc?
Spruce Root Inc's revenue in 2023 was $8,914,190.
Official website here: www.spruceroot.org
Who are the executives of Spruce Root Inc and what are their salaries?
The average compensation at Spruce Root Inc during 2023 was $69,723. There are 22 employees and 7 volunteers at Spruce Root Inc.
Here are 8 key members and their salaries:
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- Compensation: $143,556
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- Other: $27,330
Official website here: www.spruceroot.org
Where can I find the form 990 for Spruce Root Inc?
Spruce Root Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.spruceroot.org
Learn more at the official website: www.spruceroot.org
Mission Statement of Spruce Root Inc
Spruce Root Inc, a Community Development Financial Institution (CDFI), is dedicated to assisting people, businesses, and communities in Southeast Alaska in achieving long-term economic, social, and environmental resilience. In simple terms, Spruce Root Inc strives to improve economic conditions in Southeast Alaska by promoting innovation, sustainability, and collaboration.
The mission of Spruce Root Inc is multifaceted. It aims to empower the people of Southeast Alaska by providing them with the resources and support they need to build sustainable and resilient communities. By offering micro and small business loans to eligible borrowers in these communities, Spruce Root Inc helps to foster economic growth and development.
Moreover, Spruce Root Inc recognizes the importance of collaboration in addressing the complex challenges associated with community sustainability. To this end, the organization has formed the Sustainable Southeast Partnership (SSP), a growing collaboration of organizations and individuals who share a common goal of strengthening cultural, ecological, and economic prosperity in Southeast Alaska. Through this partnership, Spruce Root Inc and its partners believe they can have a greater impact by working together on the challenges of community sustainability than by working independently.
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Impact
October, 2024
Spruce Root Inc actively drives regenerative economies in Southeast Alaska, enabling communities to envision and pursue futures that are deeply rooted in their Indigenous heritage. By fostering a collaborative approach through the Sustainable Southeast Partnership, they empower local organizations and individuals to work together on the complex challenges of community sustainability.
Their mission centers on enhancing long-term economic, social, and environmental resilience for the people and businesses of Southeast Alaska. Through innovative initiatives, they focus on improving economic conditions in local communities by providing access to micro and small business loans for eligible borrowers. This strategic support not only nurtures entrepreneurial spirit but also encourages sustainable practices that align with the cultural and ecological values of the region.
By prioritizing collaboration and sustainability, Spruce Root Inc creates a significant impact, helping Southeast Alaskan communities build a prosperous future that acknowledges and honors their unique identities and environments.
This information is meant to be a general summary of Spruce Root Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $678,888
- Program Service Revenue: $286,917
- Gross Receipts: $8,918,117
Assets and Liabilities:
- Total Assets: $21,033,643
- Total Liabilities: $1,823,346
- Net Assets: $19,210,297
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
WORKFORCE/BUSINESS PRO
Revenue
$160,677
CDFI LENDING
Revenue
$126,240
Organization Details
Founding Year
2012
Principal Officer
Alana Peterson
Website
www.spruceroot.orgNTEE Category
Code: S30 - Community improvement
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