Civic Intelligence

Roots Fund Incorporated

990 • Fiscal year 2023 • EIN 85-2112719

Jan 01, 2023 to Dec 31, 2023 • Filed on Feb 06, 2024

Organization ProfileTHEROOTSFUND.ORG
1127 High Ridge Rd Suite 117Stamford, CT 06905

(718) 691-8922

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.91x

Higher debt load relative to assets than 93% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

71st percentile

0.13x

Higher debt load relative to revenue than 71% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

27th percentile

-8.1%

Higher net margin than 27% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

88th percentile

$102,030

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 11.7% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

21st percentile

-7.4%

Faster asset growth than 21% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

21st percentile

-15%

Faster revenue growth than 21% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$125,365

Down $10,056 (-7.4%) from 2022

Net Assets

Down

$11,412

Down $69,749 (-86%) from 2022

Liabilities

Up

$113,953

Up $59,693 (+110%) from 2022

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin27th percentile

Revenue

Down

$872,267

Down $148,247 (-15%) from 2022

Expenses

Down

$942,692

Down $123,270 (-12%) from 2022

Net Income

Down

-$70,425

Down $24,977 (-55%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth21st 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

2023

Assets$125,365
Liabilities$113,953
Net Assets$11,412
Open 2023 Filing

Operations Trend

Revenue Growth21st 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

2023

Revenue$872,267
Expenses$942,692
Net Income-$70,425
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Feb 6, 2024
Return Version
2023v5.1
Gross Receipts
$872,267
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.

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 & lat

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$813$103,771▲ $102,958
Cash and Non-Interest-Bearing Accounts$27,140$7,591▼ $19,549
Land, Buildings, and Equipment, Net$2,199$3,006▲ $807
Total Assets$81,837$125,365▲ $43,528
Other Assets Total$51,685$10,997▼ $40,688
Liabilities
Accounts Payable and Accrued Expenses-$78,866-
Other Liabilities-$35,087-
Total Liabilities$0$113,953▲ $113,953
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$81,837$11,412▼ $70,425
Total Net Assets Fund Balance$81,837$11,412▼ $70,425
Total Liabilities and Net Assets / Fund Balance$81,837$125,365▲ $43,528

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,006$1,306$4,312
Other Assets Org$10,997--
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleBaseTotal
Ikimi WoodsonExecutive Director$102,030$102,030
Revenue and Support

Revenue Composition

Contributions and Grants
$872,267
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$695,589
Change in Net Assets
$-70,425
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$427,118
Salaries, Compensation, and Employee Benefits$269,620
Other Expenses$245,954
Total Fundraising Expense$17,862
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$427,118--$427,118
Other Salaries and Wages$37,960$97,458$4,697$140,115
Current Officers, Directors, Trustees, and Key Employees-$102,030-$102,030
Travel$2,852$54,989$8,139$65,980
Fees for Services Other-$54,846-$54,846
Advertising$3,712$26,293$928$30,933
Payroll Taxes$3,021$21,189$361$24,571
Insurance-$19,940-$19,940
All Other Expenses-$16,471-$16,471
Fees for Services Legal-$15,771-$15,771
Fees for Services Accounting-$14,187-$14,187
Office Expenses-$7,660$3$7,663
Other Expenses$2,488$3,059$3,734$3,059
Other Employee Benefits$2,434$470-$2,904
Interest-$2,541-$2,541
Information Technology-$744-$744
Occupancy$661--$661
Depreciation Depletion-$302-$302
Total Functional Expenses$480,451$444,379$17,862$942,692
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Wine Auction$176,678$176,678-$176,678
Total Events$176,678$176,678-$176,678
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card$35,087
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

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

Governing documents etc available to public Part VI line 19

“No other documents available to the public.”

Filing and Contact Details

Filer

Filer Name
The Roots Fund
EIN
85-2112719
Address
1127 High Ridge Rd Suite 117, Stamford, CT 06905

Signing Officer

Name
Ikimi Woodson
Title
Executive Direc
Phone
7186918922
Signed
2024-02-06
Discuss with paid preparer
No

Organization Details

Formed
2019
Legal Domicile
Ct
Voting Board Members
3
Independent Board Members
3
Employees
5

Preparer

Firm
RM Martin PLLC
Address
800 Maine Ave SW, Washington, DC 20024
Preparer
Regina Martin
Phone
2025798672
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IRS990/ActivityOrMissionDesc0THE 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 & LAT
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IRS990/Desc04a. 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.
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IRS990/ProgSrvcAccomActy2Grp/Desc04c. Enrichment Trips $43,000 (pulled from scholarship number)To be successful in certifications and knowledge you must travel the wine world. Scholars traveled to France, Oregon and California. 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.
IRS990/ProgSrvcAccomActy3Grp/Desc04b. 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.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt01. Executive Director prepares financial statements. 2. The 990 is prepared usingfinancial statement information. 3. The 990 is compared and reviewed againstfinancial statement data 4. The executive director approves 990 before sharing thedraft with the board. Board reviews and approves final 990 before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No other documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0125365
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt08139
IRS990/TravelGrp/ManagementAndGeneralAmt054989
IRS990/TravelGrp/ProgramServicesAmt02852
IRS990/TravelGrp/TotalAmt065980
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Ikimi Woodson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Direc
ReturnHeader/BusinessOfficerGrp/PhoneNum07186918922
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-02-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Roots Fund
ReturnHeader/Filer/BusinessNameControlTxt0ROOT
ReturnHeader/Filer/EIN0852112719
ReturnHeader/Filer/USAddress/AddressLine1Txt01127 High Ridge Rd Suite 117
ReturnHeader/Filer/USAddress/CityNm0Stamford
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006905
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0881892972
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RM Martin PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0800 Maine Ave SW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Washington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0DC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd020024
ReturnHeader/PreparerPersonGrp/PhoneNum02025798672
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Regina Martin
ReturnHeader/ReturnTs02024-11-14T20:15:04-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$125,365
Liabilities
$113,953
Net assets
$11,412
Revenue
$872,267
Expenses
$942,692
Net income
-$70,425
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
2023Detailed filing. Detailed filing data is available for this year.$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
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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