EIN 04-3478123

Root Capital

IRS 501(c) type
501(c)(3)
Num. employees
74
Year formed
1999
Most recent tax filings
2023-12-01
Description
To grow rural prosperity by investing in small and growing agricultural businesses that build sustainable livelihoods in Africa and Latin America.
Total revenues
$29,107,606
2023
Total expenses
$32,505,312
2023
Total assets
$120,379,681
2023
Num. employees
74
2023

Program areas at Root Capital

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. Please refer to the organization's website for further information and statistics on program accomplishments.finance: Root Capital typically provides loans and lines of credit ranging from $50,000 to $4 million to small and growing businesses, that source from small-holder farmers, with a focuses on those businesses not reached by commercial lenders.most Root Capital loans can be categorized as follows:1) lines of credit, with tenors of one to three years and are used for working Capital to finance the cost of purchasing and processing raw material sourced from smallholder farmers.2) term loans, granted from time to time, with maximum tenors of seven years are provided in connection with the working Capital financing to finance certain fixed asset purchases and investments, including equipment, infrastructure improvements, and agricultural inputs. Root Capital assesses prospective clients and evaluates them on a series of financial, social, and environmental criteria. Social criteria include prices paid to suppliers, employee wages, and working conditions, and company support for social programs such as training and medical care. Environmental criteria include soil and water management, the impact of the business on the surrounding community, and standards for product handling and processing.root Capital's lending supports sustainable environmental practices that protect rural ecosystems. Crops processed and marketed by Root Capital clients primarily in industries including coffee, cocoa, and certain tree nuts.
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. Accelerate - share learning from work with like-minded peers to build common standards and practices necessary for the industry to thrive and scale.through industry associations Root Capital plays a leadership role in building the enabling environment for rural small and growing business finance.as a non-profit committed to alleviating rural poverty, Root Capital seeks to maximize the positive social and environmental impact of our work. Economic, community, and environmental sustainability are all part of our core values.economic sustainability - Root Capital clients link small-scale farmers to markets that can offer higher and more stable prices than they have historically received. Root Capital clients also generate employment including managers, accountants, agricultural extension staff, drivers, and workers at processing plants.community sustainability - farmer associations encourage participatory decision-making and are a source of community ownership and pride, making traditional agricultural activities more viable. Social impact includes stabilizing incomes in rural communities and creating new economic opportunities for women, indigenous peoples and other marginalized groups.
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. Root Capital's financial advisory services are designed to prepare businesses with growth potential to qualify for credit, to shepherd more prospective clients into our portfolio, and to mitigate the risk of lending to these businesses.root Capital's advisory services program provides financial training to clients prior to receiving a loan and during the life of the loan as needed.though financial management training is the core offering of the organization's advisory program, Root Capital also provides complementary non-financial advisory services to help businesses overcome different challenges and position them for greater impact.

Grants made by Root Capital

GranteeGrant descriptionAmount
Catholic Relief ServicesDevelopment of Reporting and Evaluations$435,847
Sustainable Food LaboratoryDevelopment of Reporting and Evaluations$30,001
The Chain CollaborativeDevelopment of Reporting and Evaluations$20,112

Who funds Root Capital

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Wal-Mart FoundationPeople in Supply Chains$2,800,000
Eagle Foundation / Co James W CabelaProgram Support$1,500,000
The Ezrah Charitable TrustGeneral Support To Root Capital's Work Providing Financing and Advisory Services To Small and Growing Agricultural Businesses in the Global South$1,000,000
...and 19 more grants received totalling $8,795,527

Personnel at Root Capital

NameTitleCompensation
Willy FooteFounder and Chief Executive Officer
Jared ChaseChief Operating Officer$51,020
Peter OngukaHead of Lending , Africa
Bryan WolinerChief Financial Officer and Treasurer$267,964
Scott McDonaldChief External Affairs Officer$294,676
...and 29 more key personnel

Financials for Root Capital

RevenuesFYE 12/2023
Total grants, contributions, etc.$16,524,600
Program services$10,208,026
Investment income and dividends$2,070,858
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$304,122
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$29,107,606

Form 990s for Root Capital

Fiscal year endingDate received by IRSFormPDF link
2023-122024-10-23990View PDF
2022-122023-11-01990View PDF
2021-122022-11-02990View PDF
2020-122021-07-14990View PDF
2019-122021-02-18990View PDF
...and 11 more Form 990s

Organizations like Root Capital

OrganizationLocationRevenue
Acumen FundNew York, NY$61,117,505
Village CapitalHouston, TX$10,821,621
AccionWashington, DC$26,132,981
FINCA InternationalWashington, DC$21,106,368
Women's World BankingNew York, NY$13,414,983
EdifySan Diego, CA$13,023,161
United Board for Christian Higher Education in AsiaNew York, NY$8,556,643
Seed CommonsNew York, NY$9,581,365
Kiva MicrofundsSan Francisco, CA$34,727,565
Pro MujerNew York, NY$75,116,159
Data update history
August 14, 2024
Updated personnel
Identified 9 new personnel
July 16, 2024
Received grants
Identified 4 new grant, including a grant for $500,000 from Gordon and Llura Gund Foundation
April 23, 2024
Updated personnel
Identified 29 new personnel
January 23, 2024
Updated personnel
Identified 4 new personnel
January 22, 2024
Posted financials
Added Form 990 for fiscal year 2022
Nonprofit Types
Grantmaking organizationsInternational-focused organizationsCharities
Issues
HispanicForeign affairs
Characteristics
Operates internationallyNational levelReceives government fundingTax deductible donationsAccepts online donations
General information
Address
245 Main St 2nd Floor
Cambridge, MA 02142
Metro area
Boston-Cambridge-Newton, MA-NH
County
Middlesex County, MA
Website URL
rootcapital.org/ 
Phone
(617) 661-5792
Facebook page
rootcapital 
Twitter profile
@rootcapital 
IRS details
EIN
04-3478123
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1999
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
Q12: International, Foreign Affairs and National Security Fund Raising and Fund Distribution
NAICS code, primary
522120: Savings Institutions
Parent/child status
Independent
California AB-488 details
AB 488 status
May Operate or Solicit for Charitable Purposes
Charity Registration status
Current - In Process
FTB status revoked
Not revoked
AG Registration Number
CT0155114
FTB Entity ID
3211487
AB 488 data last updated ("as-of") date
2024-12-04
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