Root Capital seeks to increase incomes and stabilize employment for farmers in africa, south-east asia, and latin america. Root Capital does this through a proven channel: support for agricultural businesses that collect and market the crops of thousands of farmers. Through a unique combination of Capital, training, and access to global markets, Root Capital helps agricultural businesses increase farmer incomes, empowers women, conserves ecosystems, and creates opportunities for the next generation.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$2.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · Form 990-TIndependent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990-T
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average surplus $4.1M a year · 13% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.0M
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
25 mo
of spending, in cash
Plus $64.4M in investments, Pt X · Ln 11–13
Looks good: 25.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
19
named funders · $4.8M
Looks good: 19 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$56.5M
44% of total assets
Looks good: liabilities are 44% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$52.8M
+54% vs prior year
Spent
$22.9M
To programs
73%
Net assets
$73.1M
By yearFY2020–FY2025
Revenue
$52.8M
FY2022▲ +54%
Tap a bar for its year
Revenue by fiscal year
FY2020$21.4M
FY2021$34.3M
FY2022$52.8M
FY2023$29.1M
FY2024$23.8M
FY2025$22.0M
Expenses
$22.9M
FY2022▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2020$21.4M
FY2021$19.5M
FY2022$22.9M
FY2023$32.5M
FY2024$37.1M
FY2025$25.7M
Net assets
$73.1M
FY2022▲ +68%
Tap a bar for its year
Net assets by fiscal year
FY2020$29.0M
FY2021$43.6M
FY2022$73.1M
FY2023$69.2M
FY2024$55.6M
FY2025$52.0M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2001.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $16.8M Management & general 24% · $5.6M Fundraising 2% · $534K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

26 people listed on the 990-T; $2.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO & Founder
$309,652Pt VII · Sec A
COO & President
$278,219Pt VII · Sec A
CFO & Treasurer
$225,908Pt VII · Sec A
Chief Credit Officer
$218,027Pt VII · Sec A
Controller & VP Investor Relations
$200,424Pt VII · Sec A
Chief External Affairs Officer
$199,335Pt VII · Sec A
SR. Dir., Inst. Philathropy/Partnerships
$159,561Pt VII · Sec A
Chief People Officer
$158,963Pt VII · Sec A

William Foote’s $342K as Founder & CEO is at the 71st percentile of top reported officer pay among 345 $10–100M international nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
William Foote$341,977$386,365$404,242$309,652$320,648$320,983
Frances Reid—$348,428$311,546$278,219$227,054$218,133
Scott McDonald Thru Dec 2024—$298,759————
Scott McDonald——$294,676$199,335——
Bryan Woliner$167,156$264,383$267,964$225,908$199,935$191,175
Darcy Salinger—$261,698$259,857$218,027$193,300$178,011
Alexandra Tuinstra$226,351$232,588$209,027—$137,597$134,564
Jean Forrester$222,850$229,752$221,585$200,424$176,372$173,638

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Empowers farming families globally to build resilience and grow rural prosperity.

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Provided by the organization

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3 programs · $16.8M · in their own filed words · FY2022
01

Root capital provides agricultural businesses with a unique combination of credit and capacity building. The organization also catalyzes change in the broader sector through evaluation and shared learning.

$9.7Mprogram expense
02

Advise

Root capital's advisory services program provides targeted training to current and prospective clients in topics such as financial management, governance, agronomic capacity, digital business intelligence, climate resilience, gender equity, and more.

$6.3Mprogram expense
03

Catalyze

Root capital seeks to catalyze a thriving financial market to support historically underserved rural small and growing businesses. The program's strategy is TO:1. Innovate - conduct R&D, study impact at the household and business levels, and look for ways to increase IMPACT.2.

$746Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 19 funders →
Grants paid · 7 grants · $1.2M · 2021–2024
Catholic Relief ServicesMD · FY2024$583,458
Catholic Relief ServicesMD · FY2023$435,847
Sustainable Food LabVT · FY2023$30,001
The Chain Collaborative INCPA · FY2023$20,112
The Chain Collaborative INCPA · FY2022$19,444
Sustainable Food LabVT · FY2021$96,666
The Chain Collaborative INCPA · FY2021$21,444

By the numbers

The FY2022 990-T, line by line.

1The main four
Money in
$52.8M
Gifts and grants$41.9M
Fees for services$10.5M
Investment income$471K
Money out
$22.9M
Programs$16.8M
Management$5.6M
Fundraising$534K
Owns and owes
$73.1M
net assets
Cash and savings$48.4M
Total assets$129.6M
Liabilities$56.5M
People
26
listed
Paid10
Voting board13
Independent13
2In more detail
Revenue in detail
Gifts and grants$41.9M
Government grants$948K
Fees for services$10.5M
Investment income$471K
Total revenue$52.8M
Assets in detailEnd of year
Cash and savings together$48.4M
Total assets$129.6M
Liabilities$56.5M
Net assets$73.1M
Operations
Employees72
Volunteers17
Fiscal year endsDecember
Conflict-of-interest policyYes
Whistleblower policyYes
Records policyYes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $22.0M$25.7M−$3.7M$52.0M 990 PDF
FY2024 $23.8M$37.1M−$13.3M$55.6M 990 PDF
FY2023 $29.1M$32.5M−$3.4M$69.2M 990 PDF
FY2022 Viewing $52.8M$22.9M$29.9M$73.1M 990 PDF
FY2021 $34.3M$19.5M$14.8M$43.6M 990 PDF
FY2020 $21.4M$21.4M−$6K$29.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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