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Root Capital
Root Capital reported $22.0 million in revenue and $25.7 million in expenses for calendar year 2025. Of every $100 it spent, $74.95 went to program services, $23.10 to management and general costs and $1.95 to fundraising. Its largest source of revenue was contributions and grants: 48.5% of the total. The highest compensation it reported for one person was $375,104 (FOUNDER & CEO). 26 people received more than $100,000 in reportable compensation. Revenue fell 24% between 2019 and 2025. Source: Form 990, 2025.
Where $100 of spending went
Calendar year 2025 · Form 990, Part IX, line 25 · total expenses $26MFor context, the median across 469 covered international, foreign affairs & national security charities: $89.04 programs, $8.28 management, $2.68 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2025 · Form 990, Part VIII · total revenue $22MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 75.0% | 86.1% |
| Management & general Part IX 25(C) ÷ 25(A) | 23.1% | 8.0% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.9% | 2.6% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.05 | $0.03 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 48.5% | 96.6% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 3.8% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 42.6% | 0.0% |
| Highest reported compensation Part VII-A, columns D–F | $375,104 | $341,362 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.46% | 1.06% |
| People paid over $100,000 Part VII, line 2 | 26 | 10 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 24.3 | 7.5 |
| Independent voting board members Part VI 1a–1b | 15 of 15 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2025 · Form 990, Part III · the three largest programs by expenseRoot 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…
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…
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…
Highest reported compensation
2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| FOUNDER & CEO Officer, 40.00 hrs/week | $341,977 | $0 | $33,127 | $375,104 |
| CONTROLLER/VP INVESTOR RELATION/TREASURER Officer, 40.00 hrs/week | $222,850 | $0 | $41,376 | $264,226 |
| GENERAL COUNSEL Officer, 40.00 hrs/week | $218,128 | $0 | $35,893 | $254,021 |
| CHIEF PROGRAMS OFFICER Key employee, 40.00 hrs/week | $226,351 | $0 | $11,318 | $237,669 |
| CHIEF HUMAN RESOURCES OFFICER Highest compensated employee, 40.00 hrs/week | $203,120 | $0 | $32,042 | $235,162 |
| VP, HEAD OF INVESTMENT & CREDIT RISK Highest compensated employee, 40.00 hrs/week | $184,279 | $0 | $48,410 | $232,689 |
| CFO Officer, 40.00 hrs/week | $185,645 | $0 | $38,468 | $224,113 |
| SENIOR DIRECTOR OF IPP Highest compensated employee, 40.00 hrs/week | $175,430 | $0 | $39,244 | $214,674 |
26 people received more than $100,000 in reportable compensation from Root Capital (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.8M (Part IX, line 5).
7 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b15 · 15 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 572
- Volunteers Part I, line 617
Largest outside contractors
2025 · Form 990, Part VII, Section B · businesses only| CBIZ ADVISORS LLC Accounting services | $134,928 |
| EMC COMMUNICATIONS Consulting | $127,500 |
| SOFIA BENSOFIA GURGI Translation services | $105,968 |
Individuals listed as contractors are left out. 3 contractors were paid more than $100,000 in all.
Private foundation grants it received
12 private foundations reported grants to Root Capital totaling $5.0M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Root Capital's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Root Capital, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Root Capital spent in 2025, $74.95 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Thessalonica Agricultural & Industrial Institute (the American Farm School)New York, NY · revenue $22M · programs 79.2% · FY2025
- Near East FoundationSyracuse, NY · revenue $22M · programs 91.9% · FY2025
- Center for a New American SecurityWashington, DC · revenue $22M · programs 73.8% · FY2025
- Transfair USAOakland, CA · revenue $22M · programs 77.3% · 2024
- Washington Institute for Near East PolicyWashington, DC · revenue $22M · programs 79.1% · 2024
All international, foreign affairs & national security charities · Largest charities in Massachusetts
Questions people ask
How much of Root Capital's spending goes to programs?
In calendar year 2025, Root Capital reported that 75.0% of its $25.7 million in expenses went to program services, 23.1% to management and general and 1.9% to fundraising (Form 990, Part IX).
How much does Root Capital pay its top executive?
The largest total compensation Root Capital reported for one person in calendar year 2025 was $375,104, for the role of FOUNDER & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Root Capital get its money?
Of $22.0 million in revenue in calendar year 2025, 48.5% came from contributions and grants (including 3.8% from government grants) and 42.6% from program service revenue (Form 990, Part VIII).
Is Root Capital a registered charity?
The IRS lists EIN 04-3478123 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024, 2025. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2025: Form 990 for calendar year 2025, object 202632189349301568 · read the filing
- 2024: Form 990 for calendar year 2024, object 202532819349301533 · read the filing
- 2023: Form 990 for calendar year 2023, object 202432979349302053 · read the filing
- 2022: Form 990 for calendar year 2022, object 202313059349301321 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203069349301430 · read the filing
- 2020: Form 990 for calendar year 2020, object 202141959349301219 · read the filing
- 2019: Form 990 for calendar year 2019, object 202022749349301552 · read the filing
All filings for EIN 04-3478123: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.