2024-11-14T23:51:51-07:00 2023-12-31 824105877 NWAFM PLLC PO Box 77033 Seattle WA 981770033 990 2023-01-01 383885237 New Roots Fund NEWR 2063233152 515 B Street NE Auburn WA 98002 Michael Blumson Board Chair 2063233152 2024-11-15 1 1 David Schor P01873145 2067898484 2024-10-25 2023 2024-10-15 13:58:12Z Greg Hope 515 B Street NE Auburn WA 98002 504249 0 X http://www.newrootsfund.org/ X 2012 WA The New Roots Fund helps low-income individuals, citizens and legal immigrants, to achieve economic self-sufficiency through business loans and technical business assistance. 5 5 0 10 0 0 661072 498992 4485 5235 30 22 0 0 665587 504249 0 0 0 0 0 0 0 0 8849 662622 499616 662622 499616 2965 4633 637552 946500 358812 655566 278740 290934 The New Roots Fund helps low-income individuals, citizens and legal immigrants, to achieve economic self-sufficiency through business loans and technical business assistance. The NRF continues to run programs funded by the federal Office of Refugee Resettlement, King County, and Washington State to train refugees in business practices, support the development of business plans, and assist with capitalizing new or existing businesses through Individual Development Accounts (matched savings programs) and loans. The New Roots Fund helps refugees, asylees, and low-income individuals achieve economic self-sufficiency. The Fund accomplishes this by providing business capital and technical assistance. Formed in 2011 and associated with the Diocese of Olympia, NRF is an independent 501(c)3. Our mission is to create viable businesses in low income neighborhoods through a highly capable lending institution providing loans and business technical assistance. 0 0 451661 0 5235 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. The NRF continues to run programs funded by the federal Office of Refugee Resettlement, King County, and Washington State to train refugees in business practices, support the development of business plans, and assist with capitalizing new or existing businesses through Individual Development Accounts (matched savings programs) and loans. 0 0 0 451661 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 1 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 1 1 0 X Greg Hope 2063233152 515 B Street NE Auburn WA 98002 Greg Hope ~ Executive Director 15 25 X 0 52248 12909 Michael Blumson ~ Board Chair 2 0 X X 0 0 0 Mahnaz Eshetu ~ Governor 1 0 X 0 0 0 Joann Ware ~ Governor 1 0 X 0 0 0 Antoinette Marasigan ~ Governor 1 0 X 0 0 0 Patty Grossman ~ Governor 1 0 X 0 0 0 0 52248 12909 0 0 0 0 Diocese of Olympia 1551 10th Avenue East Seattle WA 98102 Management and related, including payroll, facilities, and bill payment 386132 1 0 0 0 0 498535 457 498992 Microlending 522290 5235 5235 0 0 0 0 0 0 5235 22 22 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 504249 5257 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 385847 362684 15442 7721 3588 3588 0 0 21745 0 21745 0 0 0 0 0 0 0 0 0 0 0 14570 14570 0 0 0 0 0 0 20924 19826 659 439 3719 3719 0 0 0 0 0 0 22706 21343 909 454 11429 10857 343 229 0 0 0 0 249 237 7 5 7602 7602 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Provision for Bad Debt 3352 3352 0 0 Membership Dues 40 38 1 1 Misc 3845 3845 0 0 499616 451661 39106 8849 331790 605016 37340 34208 146524 194404 0 0 0 121898 112872 0 0 0 0 7914 7914 0 0 0 0 0 0 0 0 0 0 0 0 637552 946500 230812 535097 0 0 0 0 0 0 0 0 0 0 0 0 0 0 128000 120469 358812 655566 X 248740 290934 30000 0 278740 290934 637552 946500 4633 0 0 0 7561 0 X X 0 0 1 0 X 450094 428889 643891 661072 498992 2682938 0 0 0 0 0 0 0 0 0 0 0 0 450094 428889 643891 661072 498992 2682938 0 2682938 10650 6450 6911 4515 5257 33783 2716721 0.98756 0.94727 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 7914 0 7914 0 0 0 0 0 0 0 Refundable Advances 120469 120469 Form 990, Part VI, Section A, Line 3 The Organization contracts with the Diocese for management services. The Diocese provides an Executive Director, bill payment and payroll services, and office space. The Organization then reimburses the Diocese for these costs. Form 990, Part VI, Section B, Line 11b This form is provided to board members for review before filing. Form 990, Part VI, Section B, Line 15 The Executive Director compensation is determined by the New Roots Fund Board approving budgets and negotiating resources in a management agreement with the Diocese of Olympia. Form 990, Part VI, Section C, Line 19 Governing documents are published on the website for the Secretary of State. Conflict of interest policy and financial statements are available upon request. Form 990, Part XII, Line 2b Note at November 14, 2024. The New Roots Fund (NRF) undergoes annual audits for assurance in financial reporting. As of this 2023 Form 990 filing NRF's 2021 audit was completed and the 2022 audit is underway. Audits to prior and current periods completed after an annual Form 990 filing may result in changes to an Organization's financial position at a prior year-end. Such changes may be summarized on a subsequent year Form 990 with an entry at Part XI Reconciliation of Net Assets, prior period adjustments line. Form 990, Part XII, Line 3b The Organization is conducting federally required audits. As of this year's Form 990 deadline the annual audit was in the planning stage. Diocese of Olympia 1551 10th Ave East Seattle WA 98102 910200430 Episcopal Diocese, church, and community activities WA 501(c)3 Charity N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 Diocese of Olympia p 386200 The Diocese of Olympia serves as a management company for New Roots Fund. The Dioceses provides an Executive Director and other staff, and pays various operating expenses, all of which are then reimbursed by New Roots Fund back to the Diocese. These costs are categorized at appropriate lines at Part IX. Amounts reported here are accrual basis costs. Reimbursement transaction may occur after year-end. (Amount estimated.)