2025-11-14T17:08:26-06:00 2024-12-31 HAN GROUP LLC 1020 19TH STREET NW SUITE 800 WASHINGTON DC 20036 990 2024-01-01 463673347 CROATAN INSTITUTE CROA 9197947440 PO BOX 2044 DURHAM NC 27702 CHRISTI ELECTRIS EXECUTIVE DIRECTOR/SR. FELLOW 9197947440 2025-11-14 1 1 JENNIFER S HAN P00633304 2022937000 2025-11-14 2024 2025-03-06 01:10:19Z JOSHUA HUMPHREYS PO BOX 2044 DURHAM NC 27702 1203636 0 X CROATANINSTITUTE.ORG X 2013 NC TO BUILD SOCIAL EQUITY AND ECOLOGICAL RESILIENCE BY LEVERAGING FINANCE TO CREATE A JUST ECONOMY X 9 6 14 36 0 0 1672099 994541 297805 171577 29135 34670 41 499 1999080 1201287 10450 750 0 0 998353 1181939 65000 60000 81321 557577 460501 1631380 1703190 367700 -501903 1316658 1586847 788436 1565849 528222 20998 X CROATAN INSTITUTE IS AN INDEPENDENT, NONPROFIT RESEARCH AND ACTION INSTITUTE WHOSE MISSION IS TO BUILD SOCIAL EQUITY AND ECOLOGICAL RESILIENCE BY LEVERAGING FINANCE TO CREATE PATHWAYS TO A JUST ECONOMY. 0 0 423490 58219 ECOLOGICAL RESILIENCE - CONTINUED DEVELOPMENT OF THE NORTH CAROLINA SOIL WEALTH AREAS, PLACE-BASED FINANCING DISTRICTS THAT CONNECT REGENERATIVE AGRICULTURE PRODUCERS AND VALUE CHAIN BUSINESSES WITH ALIGNED CAPITAL AND TECHNICAL ASSISTANCE. ORGANIZED A CONVENING OF OVER 40 STAKEHOLDERS IN NC FOR A TWO-DAY WORKING SESSION FOR DEEP DISCUSSIONS, FIELD VISITS, AND TRUST BUILDING. LAUNCHED A NEW COHORT OF TEN FARMERS TO SUPPORT ON-FARM IMPLEMENTATION OF CONSERVATION PRACTICES, DEVELOP BUSINESS PLANS, AND CONNECT FARMERS TO ALIGNED CAPITAL. RELEASED A NEW REPORT, "MODELS AND OPPORTUNITIES FOR FINANCING GRAIN CHAINS IN THE MIDWEST." FINALIZED RESEARCH ON TWO PROJECTS, ONE ON AGROFORESTRY FINANCE AND ONE ON THE MARKET POTENTIAL OF THE NUTRITIONAL AND ECOSYSTEM BENEFITS OF REGENERATIVE AGRICULTURE WHICH WILL CULMINATE IN FORTHCOMING REPORTS TO BE RELEASED IN 2025. FINALIZED AND PREMIERED ITS FIRST-EVER SHORT FILM, "SOIL WEALTH: INVESTING IN REGENERATIVE AGRICULTURE," WHICH DEMONSTRATES EFFECTIVE PRACTICAL SOLUTIONS FOR FUNDING THE FUTURE OF RESILIENT AND SUSTAINABLE FOOD SYSTEMS. 414760 750 56993 SOCIAL EQUITY - CROATAN INSTITUTE WELCOMED OVER 30 FARMERS, TECHNICAL ASSISTANCE PROVIDERS, AND INVESTORS TO THE INAUGURAL FARMER STAKEHOLDER MEETING IN NORTH CAROLINA TO PROVIDE DIRECT ONE-ON-ONE SUPPORT AND ACCESS TO NEW PROGRAMS TO SUPPORT FARMERS AND LANDOWNERS' NEEDS. LED 6TH COHORT OF UNDERSERVED FARMERS IN NORTH CAROLINA, WHICH INCLUDED AN IN-PERSON WORKSHOP DAY CENTERED ON PERSONAL FINANCIAL SECURITY. BUILT THE FARMWISE HUB, A VIRTUAL PLATFORM OFFERING FREE, ONLINE WORKSHOPS ALONG WITH ONE-TO-ONE FINANCIAL COACHING TO ASSIST UNDERSERVED FARMERS, RANCHERS, AND LANDOWNERS BUILD STRONG FINANCIAL SYSTEMS THAT LEAD TO GREATER RESILIENCE AND IMPROVED ACCESS TO WEALTH-BUILDING OPPORTUNITIES. DEVELOPED THE NORTH CAROLINA EQUITABLE FOODSHED MAP, A RESOURCE TO SUPPORT FARMERS SEEKING TECHNICAL ASSISTANCE AND FINANCIAL SUPPORT. COMPILED A COLLECTION OF USDA RESOURCES AND BUILT AN AGRITOURISM DIRECTORY OF SMALL AND UNDERSERVED FARMS FOR THE FARMWISE PLATFORM. 410190 56365 TRANSFORMATIVE FINANCE - CROATAN INSTITUTE RELEASED A NEW RAISER (RESEARCH, ACTION, AND INSIGHTS FOR SOCIAL AND ENVIRONMENTAL RETURNS) TOOL TO HIGHLIGHT THE INSTITUTE'S RIGOROUS INVESTMENT RESEARCH, INCLUDING A POWERFUL DATABASE OF INVESTABLE PRODUCTS ACROSS ASSET CLASSES. LAUNCHED TWO PUBLICLY AVAILABLE DATASETS ON THE INSTITUTE'S WEBSITE - A FOOD AND AGRICULTURE INVESTMENT DATASET HIGHLIGHTING INVESTIBLE OPPORTUNITIES ADVANCING SUSTAINABLE AND REGENERATIVE AGRICULTURE, AND A RACIAL EQUITY INVESTING DATASET HIGHLIGHTING INVESTIBLE PRODUCTS AND ADVISORS ADVANCING EQUITABLE OUTCOMES FOR COMMUNITIES AND ENTREPRENEURS OF COLOR. HOSTED THE BLAISE PROGRAM'S VIRTUAL LEARNING WEEK WITH OVER 80 STUDENT PARTICIPANTS REPRESENTING NEARLY FIFTY UNIVERSITIES AND COLLEGES TO LEARN FROM AND NETWORK WITH TWENTY-EIGHT INDUSTRY LEADERS IN THE IMPACT INVESTING SPACE. 1248440 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 23 0 1 14 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X CHRISTI ELECTRIS 9197947440 201 WEST MAIN STREET SUITE B013 DURHAM NC 27701 JOSHUA HUMPHREYS PRESIDENT/CHAIR, SENIOR FELLOW 40.00 X X 141065 0 8836 CHRISTI ELECTRIS ED, SR. FELLOW, AND BOARD DIRECTOR 40.00 X X 127354 0 2549 SHARLENE BROWN TREASURER (THRU NOV), SENIOR FELLOW 30.00 X X 113305 0 7099 ANNA ASPENSON DIRECTOR, SENIOR ASSOCIATE 40.00 X 77109 0 5207 ABRAHAM JONES VICE PRESIDENT 0.50 X X 0 0 0 DAVID SAND TREASURER (AS OF DECEMBER) 0.75 X X 0 0 0 WILLIAM J BARBER III DIRECTOR 0.50 X 0 0 0 GERARDO ESPINOZA DIRECTOR 0.50 X 0 0 0 MASIKA HENSON DIRECTOR 0.50 X 0 0 0 LISA WOLL DIRECTOR 0.50 X 0 0 0 458833 0 23691 3 0 0 0 0 494180 500361 994541 CONSULTING SERVICES 900099 99358 99358 FISCAL SPONSORSHIP REV 900099 65454 65454 EVENTS INCOME 900099 6515 6515 HONORARIA/SPEAKING FEE 900099 250 250 171577 33679 33679 3340 2349 991 991 991 REWARDS 900099 474 474 LOAN GUARANTEE FEES 900099 25 25 499 1201287 171577 0 35169 X 750 750 482524 360771 109600 12153 590768 419778 165823 5167 20510 13654 6591 265 18039 11719 6070 250 70098 49128 19747 1223 20884 20884 60000 60000 280253 278223 1911 119 8779 8779 23189 16253 6533 403 21144 14819 5956 369 12881 9027 3629 225 53017 37158 14935 924 29824 26725 2918 181 8167 8167 571 400 161 10 STATE REGISTRATIONS 850 596 239 15 MEMBERSHIPS AND DUES 619 434 174 11 BOOKS/SUBS/REFERENCE 323 226 91 6 1703190 1248440 373429 81321 26801 40944 218018 795052 618335 648709 32811 1924 500 4287 4287 0 0 417919 100792 850 850 1316658 1586847 180472 73200 115126 265306 217230 980749 154908 131389 120700 115205 788436 1565849 X -118047 -299835 646269 320833 528222 20998 1316658 1586847 -501903 -5321 0 X X 0 1 X 1 0 X 490284 600469 863271 1672099 994541 4620664 490284 600469 863271 1672099 994541 4620664 1594401 3026263 580 556 2451 28796 33679 66062 3191 88 25 25 3329 4690055 1502115 0.64530 0.66760 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2020 AMOUNT: $ 2,991. RENTAL INCOME - 2020 AMOUNT: $ 200. LOAN GUARANTEE FEES - 2022 AMOUNT: $ 88. 2023 AMOUNT: $ 25. 2024 AMOUNT: $ 25. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 4287 4287 0 0 X 1195966 -5321 -5321 1201287 0 1201287 1703190 0 1703190 0 1703190 PART IV, LINE 2B: CROATAN INSTITUTE HAS FISCAL SPONSORSHIP AGREEMENTS FOR PROJECTS THAT ARE IN COMPLIANCE WITH ITS TAX-EXEMPT 501(C)(3) STATUS AND SUPPORT ITS MISSION. PART X, LINE 2: CROATAN INSTITUTE FOLLOWS THE AUTHORITATIVE GUIDANCE RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES INCLUDED IN ACCOUNTING STANDARDS CODIFICATION TOPIC 740, INCOME TAXES. THESE PROVISIONS PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT IS CROATAN INSTITUTE'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSES. CROATAN INSTITUTE PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED DECEMBER 31, 2024 AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION ON THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. THE STATUTE OF LIMITATIONS GENERALLY REMAINS OPEN FOR THREE TAX YEARS WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH CROATAN INSTITUTE FILES TAX RETURNS. X X X X 1 WEIDMAN LLC 3233 HARRIET AVE MINNEAPOLIS MN 55408 FUNDRAISING 0 939393 60000 879393 939393 60000 879393 NC JOSHUA HUMPHREYS PRESIDENT/CHAIR, SENIOR FELLOW WORKING CAPITAL X 125000 98149 0 1 1 CHRISTI ELECTRIS ED, SR. FELLOW, AND BOARD DIRECTOR WORKING CAPITAL X 65000 33240 0 1 1 131389 EXPENDITURE OF ASSETS FOR EXEMPT PURPOSE 2024-12-31 1248440 COST 0 0 0 0 PART II, LINE 2E: EXPLANATION OF INVOLVEMENT: IN 2024, THE ORGANIZATION EXPERIENCED A DECREASE IN REVENUE WHILE EXPENSES REMAINED RELATIVELY CONSISTENT WITH THE PRIOR YEAR. AS A RESULT, THE ORGANIZATION'S NET ASSETS DECREASED BY MORE THAN 25% COMPARED TO THE PREVIOUS YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE PROCESS THAT CROATAN INSTITUTE USES TO REVIEW THE FORM 990 IS AS FOLLOWS: MEMBERS OF THE JOINT BOARD-STAFF FINANCE COMMITTEE REVIEW THE DRAFT FORM 990 FOR ACCURACY, AND THEN AFTER ANY NEEDED MODIFICATIONS, THE FINAL FORM 990 IS SHARED WITH ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CROATAN INSTITUTE'S CONFLICTS OF INTEREST POLICY IS INCORPORATED INTO THE BYLAWS OF CROATAN INSTITUTE, AS ARTICLE VII, WHERE PROCEDURES FOR MONITORING, REVIEW AND COMPLIANCE WITH THE POLICY ARE SPECIFIED. FIRST, THE POLICY IS DISTRIBUTED ANNUALLY TO ALL DIRECTORS AND OFFICERS OF CROATAN INSTITUTE, EACH OF WHOM CERTIFIES ANNUALLY THAT THE PERSON HAS RECEIVED A COPY OF THE POLICY, HAS READ AND UNDERSTANDS THE POLICY, AGREES TO COMPLY WITH THE POLICY, UNDERSTANDS THAT THE POLICY APPLIES TO ALL COMMITTEES AND SUBCOMMITTEES ACTING WITH THE AUTHORITY OF THE BOARD OF DIRECTORS, AND UNDERSTANDS THAT CROATAN INSTITUTE IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS TAXEXEMPT STATUS, IT MUST CONTINUOUSLY ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX EXEMPT PURPOSES. THIS SIGNED STATEMENT BY OFFICERS AND DIRECTORS IS RECORDED IN THE MINUTES OF THE BOARD OF DIRECTORS. ALL INTERESTED PERSONS AMONG OFFICERS AND DIRECTORS OF CROATAN INSTITUTE ARE CAUSED TO DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST. ANY SUCH INTERESTED PERSONS ARE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD OF DIRECTORS, OR MEMBERS OF ANY COMMITTEE CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, THE INTERESTED PERSON SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION OF CROATAN INSTITUTE'S PRESIDENT INCLUDES A REVIEW AND APPROVAL OF A COMPENSATION PROPOSAL THAT INCLUDES INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. THE COMPENSATION COMMITTEE, COMPRISING THE INDEPENDENT DIRECTORS OF THE CORPORATION AND NOT INCLUDING THE INSTITUTE'S PRESIDENT AS REQUIRED BY THE INSTITUTE'S CONFLICT OF INTEREST POLICY, VOTES ON THE ANNUAL COMPENSATION PLAN AT THE ANNUAL BOARD MEETING. THE CONTEMPORANEOUS SUBSTANTIATION OF THE BOARD OF DIRECTORS' DELIBERATION AND DECISION IS EFFECTED THROUGH RECORDING THE OUTCOMES OF THE VOTE, THE TERMS OF THE APPROVED PACKAGES, INCLUDING THE COMPENSATION ANALYSIS, IN THE MINUTES OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMPENSATION PROCESS IS USED TO DETERMINE THE SALARIES OF OTHER OFFICERS BESIDES THE PRESIDENT. EVERY OCTOBER/NOVEMBER, THE OPERATIONS COORDINATOR REVIEWS THE PNP STAFFING GROUP'S MOST RECENT SALARIES AND STAFFING TRENDS REPORT AND DRAWS COMPARISONS BETWEEN THE MARKET RANGE PRESENTED AND THE CURRENT CROATAN SALARY LADDER. BASED ON THE REVIEW, THE OPERATIONS MANAGER MAKES AN EXECUTIVE COMPENSATION SALARY RECOMMENDATION AND SUBMITS IT TO THE BOARD FOR REVIEW AND APPROVAL. THE PROCESS WAS LAST CONDUCTED IN NOVEMBER 2024. FORM 990, PART VI, SECTION C, LINE 19 CROATAN INSTITUTE MAKES AVAILABLE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND IRS FORMS 990 (INCLUDING THE FINANCIAL STATEMENTS INCORPORATED THEREIN) TO THE PUBLIC UPON REQUEST FOR THE PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART IX, LINE 11G CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 210,804. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 210,804. AFFILIATED FELLOW: PROGRAM SERVICE EXPENSES 32,327. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 32,327. SENIOR FELLOW: PROGRAM SERVICE EXPENSES 9,136. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,136. PAYROLL FEES: PROGRAM SERVICE EXPENSES 3,498. MANAGEMENT AND GENERAL EXPENSES 1,405. FUNDRAISING EXPENSES 87. TOTAL EXPENSES 4,990. STAFF DEVELOPMENT: PROGRAM SERVICE EXPENSES 908. MANAGEMENT AND GENERAL EXPENSES 365. FUNDRAISING EXPENSES 23. TOTAL EXPENSES 1,296. HONORARIUM: PROGRAM SERVICE EXPENSES 21,550. MANAGEMENT AND GENERAL EXPENSES 141. FUNDRAISING EXPENSES 9. TOTAL EXPENSES 21,700. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.