2025-11-17T14:59:28-07:00 2024-12-31 NWAFM PLLC PO Box 77033 Seattle WA 981770033 990 2024-01-01 383885237 NEW ROOTS FUND NEWR 2063233152 515 B Street NE Auburn WA 98002 Michael Blumson Board Chair 2063233152 2025-11-14 1 1 David Schor P01873145 2067898484 2025-11-14 2024 2025-03-06 01:10:19Z Greg Hope 515 B Street NE Auburn WA 98002 610524 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 0 0 0 498992 605225 5235 5225 22 74 0 0 504249 610524 0 0 0 0 0 0 0 0 10672 499616 582176 499616 582176 4633 28348 946500 1087870 655566 784498 290934 303372 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 535016 0 5225 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. In 2024, the NRF enrolled 107 clients who received 856 hours of training. Our comprehensive training programs provide clients with essential knowledge and skills to successfully enter and sustain a business. Notably, all 40 loan recipients from this period have launched or expanded their businesses and are consistently meeting their loan repayment schedules. The NRF also assisted eighteen businesses with training and nine with capitalization. The NRF committed $162,500 for FY 2024, for matched savings accounts and fully disbursed by the end of 2024. Over 40 individual savings plans were developed to support micro-enterprise purchases after a savings period of at least six months. In addition, 12 individuals saved for vehicles, while seven saved for educational expenses. All participants successfully completed financial skills training, asset specific training and the purchase of assets. 0 0 0 535016 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 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 16 24 X 0 90927 24773 Michael Blumson ~ Board Chair 2 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 90927 24773 0 0 0 0 Diocese of Olympia 1551 10th Avenue East Seattle WA 98102 Management and related, including payroll, facilities, and bill payment 385847 1 0 0 0 0 548795 56430 0 605225 Microlending 522290 5225 5225 0 0 0 0 0 0 5225 74 74 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 610524 5299 0 0 471625 443328 18864 9433 15150 15150 9172 9172 24637 23405 739 493 26582 24987 1063 532 11260 10753 304 203 411 393 11 7 7572 7572 0 0 Unrecoverable Loans 12354 12354 0 0 Refunds 2149 2149 0 0 Bank & Loan Processing Fees 704 704 0 0 Licenses & Fees 351 0 351 0 209 199 6 4 582176 535016 36488 10672 605016 793873 34208 52279 194404 194852 112872 46866 0 0 7914 7914 0 0 0 0 0 0 0 946500 1087870 535097 522673 0 0 0 0 0 0 0 105325 120469 156500 655566 784498 X 290934 303372 0 0 290934 303372 946500 1087870 28348 0 0 0 -15910 0 X X 0 0 1 0 X 428889 643891 661072 498992 711830 2944674 0 0 0 0 0 0 0 0 0 0 428889 643891 661072 498992 711830 2944674 2944674 6450 6911 4515 5257 5255 28388 2973062 0.99045 0.98756 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 0 7914 7914 0 0 0 0 0 0 ORR Funds held for refugees 156500 156500 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 13, 2025. The New Roots Fund (NRF) undergoes annual audits for assurance in financial reporting. As of this 2024 Form 990 filing NRF's 2023 audit is nearing completion and the 2024 audit will commence soon. 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 385847 See Schedule R, Part VII, Statement 1 Schedule R, Part I 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.)