Civic Intelligence

Roots Fund Incorporated

990 • Fiscal year 2021 • EIN 85-2112719

Jan 01, 2021 to Dec 31, 2021 • Filed on Apr 26, 2023

Organization ProfileTHEROOTSFUND.ORG
596 Gracey AveMeriden, CT 06451

(703) 964-2874

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.23x

Higher debt load relative to assets than 83% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

78th percentile

0.09x

Higher debt load relative to revenue than 78% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

19th percentile

-18%

Higher net margin than 19% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

19th percentile

-19%

Faster asset growth than 19% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

76th percentile

52%

Faster revenue growth than 76% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$165,204

Down $39,485 (-19%) from 2020

Net Assets

Down

$127,574

Down $77,022 (-38%) from 2020

Liabilities

Up

$37,630

Up $37,537 (+40362%) from 2020

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin19th percentile

Revenue

Up

$416,741

Up $142,442 (+52%) from 2020

Expenses

Up

$493,763

Up $424,060 (+608%) from 2020

Net Income

Down

-$77,022

Down $281,618 (-138%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0-$100KAssets 2020: $204,689Liabilities 2020: $93Net Assets 2020: $204,5962020Assets 2021: $165,204Liabilities 2021: $37,630Net Assets 2021: $127,5742021Assets 2022: $135,421Liabilities 2022: $54,260Net Assets 2022: $81,1612022Assets 2023: $125,365Liabilities 2023: $113,953Net Assets 2023: $11,4122023Assets 2024: $6,471Liabilities 2024: $29,029Net Assets 2024: -$22,5582024

Highlighted filing

2021

Assets$165,204
Liabilities$37,630
Net Assets$127,574
Open 2021 Filing

Operations Trend

Revenue Growth76th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2020: $274,299Expenses 2020: $69,703Net Income 2020: $204,5962020Revenue 2021: $416,741Expenses 2021: $493,763Net Income 2021: -$77,0222021Revenue 2022: $1,020,514Expenses 2022: $1,065,962Net Income 2022: -$45,4482022Revenue 2023: $872,267Expenses 2023: $942,692Net Income 2023: -$70,4252023Revenue 2024: $302,899Expenses 2024: $341,699Net Income 2024: -$38,8002024

Highlighted filing

2021

Revenue$416,741
Expenses$493,763
Net Income-$77,022
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Apr 26, 2023
Return Version
2021v4.1
Gross Receipts
$416,741
Mission and Program Overview

Mission

The roots fund was created to empower the bipoc community in the wine industry by providing resources and financial support through educational scholarships, wine education, mentorship, and job placement. The roots fund is committed to investing in the black, indigenous & latinx wine community to provide opportunities to those seeking a career/education in all aspects of wine.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$204,689$161,930▼ $42,759
Prepaid Expenses and Deferred Charges-$2,375-
Land, Buildings, and Equipment, Net-$898-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$204,689$165,204▼ $39,485
Other Assets Total-$1-
Liabilities
Accounts Payable and Accrued Expenses-$28,614-
Other Liabilities$93$9,016▲ $8,923
Total Liabilities$93$37,630▲ $37,537
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$204,596$127,574▼ $77,022
Total Net Assets Fund Balance$204,596$127,574▼ $77,022
Total Liabilities and Net Assets / Fund Balance$204,689$165,204▼ $39,485

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,200-$1,200
Other Land Buildings$-302$302-
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Carlton Mccoy JrChairman
Tahiirah AllenDirector
Ikimi DuboseExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$416,741
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$416,741
Change in Net Assets
$-77,022
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$190,234
Other Expenses$174,887
Salaries, Compensation, and Employee Benefits$126,548
Professional Fundraising Fees$2,094
Total Fundraising Expense$2,094

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$190,234--$190,234
Other Salaries and Wages$90,596$30,198-$120,794
Travel$62,102$20,701-$82,803
Other Expenses$25,576$8,525-$34,101
Fees for Services Other$17,434$5,811-$23,245
Advertising$8,810$2,937-$11,747
Office Expenses$6,946$2,315-$9,261
Insurance$6,133$2,044-$8,177
Fees for Services Legal$4,709$1,570-$6,279
Payroll Taxes$4,316$1,438-$5,754
Fees for Services Professional Fundraising--$2,094$2,094
Fees for Services Management$408$136-$544
Depreciation Depletion$227$75-$302
Occupancy$-1,179$-393-$-1,572
Total Functional Expenses$416,312$75,357$2,094$493,763
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$2,094
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Liabilities_Other$9,016
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“1. Executive Director prepares financial statements. 2. The 990 is prepared using financial statement information. 3. The 990 is compared and reviewed against financial statement data 4. The executive director approves 990 before sharing the draft with the board. Board reviews and approves final 990 before filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Board members are required to disclose potential conflicts of interest before assuming duties and responsibilities.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
The Roots Fund Inc
EIN
85-2112719
Phone
7039642874
Address
596 GRACEY AVE, MERIDEN, CT 06451

Signing Officer

Name
Ikimi Dubose
Title
Executive Director
Signed
2023-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ikimi Dubose
Formed
2019
Legal Domicile
Ct
Voting Board Members
3
Independent Board Members
3
Employees
1

Preparer

Firm
GSD Financial Services LLC
Address
905 Southgate Dr, Raleigh, NC 27610
Preparer
Darius Hinton
Phone
9193740087
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt01. Executive Director prepares financial statements. 2. The 990 is prepared using financial statement information. 3. The 990 is compared and reviewed against financial statement data 4. The executive director approves 990 before sharing the draft with the board. Board reviews and approves final 990 before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members are required to disclose potential conflicts of interest before assuming duties and responsibilities.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0416741
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt075357
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0416312
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IRS990/TravelGrp/ManagementAndGeneralAmt020701
IRS990/TravelGrp/ProgramServicesAmt062102
IRS990/TravelGrp/TotalAmt082803
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0IKIMI DUBOSE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-04-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Roots Fund Inc
ReturnHeader/Filer/BusinessNameControlTxt0ROOT
ReturnHeader/Filer/EIN0852112719
ReturnHeader/Filer/PhoneNum07039642874
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0842140916
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GSD Financial Services LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0905 Southgate Dr
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Raleigh
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027610
ReturnHeader/PreparerPersonGrp/PhoneNum09193740087
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Darius Hinton
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-04-26T20:08:17-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0IKIMI
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DUBOSE
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$165,204
Liabilities
$37,630
Net assets
$127,574
Revenue
$416,741
Expenses
$493,763
Net income
-$77,022
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.01$0.03$0.02$0.30$0.34$0.04
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.13$0.11$0.01$0.87$0.94$0.07
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.14$0.05$0.08$1.02$1.07$0.05
2021Detailed filing. Detailed filing data is available for this year.$0.17$0.04$0.13$0.42$0.49$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.27$0.07$0.20