New Roots Fund EIN 38-3885237 Form 990 (PDF) Claim this org

New Roots Fund

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Provides business capital and technical help for refugees and low-income individuals to become self-sufficient. For fiscal year 2024 it reported $611K in revenue, $582K in expenses, and $303K in net assets.Pt I

Type
Public charity (501(c)(3)) · International
Location
Auburn, WA
Website
www.newrootsfund.org
Filings
5 on file (2020–2024)
Revenue
$611KFY2024
Expenses
$582K
Net assets
$303K
People
6
Filings
5
Updates
0
More identity details & actions ⌄
EIN  38-3885237 Public charity (501(c)(3)) Auburn, WA
Form 990 (PDF)
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Size
$100K–1M
What they do
Provides business capital and technical help for refugees and low-income individuals to become self-sufficient.
Leadership
Greg Hope · ~ Executive Director
Money in and out
$611K revenue, $582K expenses
Bottom line
92% program efficiency
Where the money goes · FY2024
Total revenue
$611K
Pt VIII · Ln 12
Total expenses
$582K
Pt IX · Ln 25
Net assets
$303K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $28K
Where spending went · Part IX cols B–D
Program services $0.92 Management & general $0.06 Fundraising $0.02
Program efficiency
92%
of spending reaches programs▲ +2% vs prior filing year
Operating runway
17.4mo
months of highly liquid reserves at operating expense rate▲ +13% vs prior filing year
Surplus margin
+5%
revenue over expenses, this year▲ +405% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$611K
FY2024▲ +21%
Expenses
$582K
FY2024▲ +17%
Total assets
$1.1M
FY2024▲ +15%
Total liabilities
$784K
FY2024▲ +20%
Total revenue
$611K
Pt VIII · Ln 12
Total expenses
$582K
Pt IX · Ln 25
Net assets
$303K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$28K
Total assetsPt X · Ln 16$1.1M
Program-expense ratioPt IX · col B92%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45
Mission & Programs · Part III

Where the work happens

1 program service account for $535K of program spending, described in the organization's own filed words · FY2024.
01

OVERALL PROGRAM. The New Roots Fund (NRF) helps low-income individuals, citizens and legal immigrants, to achieve economic self-sufficiency through business loans and technical business assistance.

$535Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CNew Roots Fund
EINHdr · item D38-3885237
Principal addressHdr · item CAuburn, WA
WebsiteHdr · item Jwww.newrootsfund.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MWA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFInternational (Q30)
Ruling yearIRS BMFJul 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
~ Executive Director
$0Pt VII · Sec A
~ Board Chair
$0Pt VII · Sec A
~ Governor
$0Pt VII · Sec A
~ Governor
$0Pt VII · Sec A
$0Pt VII · Sec A
~ Governor
$0Pt VII · Sec A
See New Roots Fund executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$605K · 99%
Program service revenue$5K · 1%
Contributions & grants99%$605K
Program service revenue1%$5K
Investment income$74
— government grantsLn 1e$549K
Total revenueLn 12$611K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.92 Management & general $0.06 Fundraising $0.02
Program services92%$535K
Management & general6%$36K
Fundraising2%$11K
Total functional expensesLn 25$582K

Balance Sheet

Part X · end of year
CashLn 1$846K
Total assetsLn 16$1.1M
Total liabilitiesLn 26$784K
Total net assetsLn 32$303K
Months of cash on handcomputed17.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $846K · Operating expenses/yr $582K
17.4 months
Where the money goes
Program services
Program services $535K · Total expenses $582K
92%
Management & General
Management & general $36K · Total expenses $582K
6%
Fundraising
Fundraising $11K · Total expenses $582K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $18K · Solicited contributions (3-yr avg) $40K
$0.44 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $605K · Total revenue $611K
99%
Government reliance
Government grants $549K · Total revenue $611K
90%
Earned-income share
Program service revenue $5K · Total revenue $611K
0.9%
Investment reliance
Investment income $74 · Total revenue $611K
+0.01%
Program self-sufficiency
Program service revenue $5K · Total expenses $582K
0.9%
Growth & trend
Revenue growth (YoY)
This year $611K · Prior year $504K
+21%
Revenue CAGR
FY2020 $460K · FY2024 $611K
+7%
Net-asset trend (YoY)
End of year $303K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $611K · Expenses $582K
+5%
Liabilities-to-Assets
Total liabilities — · Total assets $1.1M
Net-asset ratio
Net assets $303K · Total assets $1.1M
28%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Greg Hope · Reported title ~ Executive Director · Highest reported compensation $0 · Total expenses $582K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $582K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 92%
Overhead ratio 6%
Fundraising cost ratio 2%
Revenue growth 21%
Accounting fee ratio 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$107

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$611K revenue · viewing · ⤓ 990 PDF
FY2023$504K revenue · ⤓ 990 PDF
FY2022$666K revenue · ⤓ 990 PDF
FY2021$572K revenue · ⤓ 990 PDF
FY2020$460K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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