GROWTH & ABUNDANCE
2024 Annual Report
Kake Day, 2024. Kake receives an apology from the Quakers and received over $92,000 in reparation money toward the Kake healing center. Jamiann S’eiltin Hasselquist attended and shared about the support she offers the community as the SSP Healing Catalyst.
Pictured: Wyatt Kadake from Kake. He is a high school student at Kake School District.
Pictured: Clara Mooney,
We amplify our Haida, Tlingit, and Tsimshian ancestral imperative to ensure Southeast Alaska thrives for future generations.
We are a drive a regenerative economy across Southeast Alaska so communities can forge futures grounded in this uniquely Indigenous place.
A Letter from the Executive Director
Gunalchéesh, Hàw’aa, Nt’oyaxsn, Thank You!
Reflecting on this past year of remarkable growth and deepened impact, I am immensely grateful for the dedicated efforts of our team, partners, and the vibrant communities of Southeast Alaska.
2024 was significant for catalyzing resources into the region. We secured transformative funding, including major awards from the Native CDFI Network and the Coalition for Green Capital, helping us support green energy financing and community resilience initiatives. Spruce Root became Alaska’s first local SBA Micro Lender, expanding accessible financing for local businesses. Our lending program saw continued growth, highlighted by the creation of the Indigenous Finance (IFi) Business Loan, uplifting Native entrepreneurs and strengthening businesses rooted in Indigenous values and a commitment to community well-being. The Seacoast Trust made significant strides toward our $30 million goal, bringing us closer to establishing lasting funding for the Sustainable Southeast Partnership and regional community priorities.
Our technical assistance programs continued raising the bar last year. The Path to Prosperity Business Competition returned to in-person, fostering entrepreneur learning and connection. We launched Resilience Circles, a program rooted in culture, wellness, and business being inseparable for Indigenous entrepreneurs, supporting their growth by honoring who they are as leaders, culture stewards, and innovators.
We expanded our reach, delivering financial wellness and workforce development support to more communities and partners, including dedicated work with Alaska Native artists and youth entering the workforce. We supported partners in essential work developing Indigenous Guardians programs and advancing the mariculture industry.
Collaboration remains the heart of our work, as everything Spruce Root does comes from cooperation. The Sustainable Southeast Partnership strengthened its network, building capacity among catalysts and regional partners. Through initiatives like Transformative Scenarios Planning, we are working together to ensure the work we all do today will help future generations thrive here.
Spruce Root’s exciting growth in 2024 is in stark contrast to where things stand globally as I write this letter today. Political change and global upheaval make it clear that the current economic system is no longer working. Extreme weather events are increasing and, at the same time, our ability to reduce carbon emissions is being cut off by the reduction of funding and the destruction of the EPA.
As we look ahead to an uncertain future, recognize that our decade of work and the wisdom of our ancestors have prepared us for this moment. Like the tree people in the forest teach us, we recognize that as we update our strategic plan and move forward, we are strongest when we stand together. In Lingít, “ixsixán” means “I love you”—but literally means “to stand with you.” In the years ahead, we must lead with love and to stand together for future generations.” Thank you for your partnership and support in planting seeds, tending growth, and celebrating the harvest together.
With gratitude,
Gah Kith Tin Alana Peterson Spruce Root Executive Director
Pictured: Gah Kith Tin Alana Peterson & son Andres.
Our Work Across the Region
Klukwan
Chilkat Valley Community Catalyst
Katrina Hotch uses SSP’s flexible funding to operate a Community Subsistence Day, a Community Culture Day, take care of the community garden, and bring the community together.
Yakutat
Justyne Wheeler’s Village Coffee Company is a drive-thru espresso shop that uses locally-sourced ingredients, including fresh salmonberry upside down cake and spruce tip tea. As a loan client and winner of the 2019 Business Competition, Justyne continues her work with Spruce Root, participating in the first Resilience Circles cohort, launched in 2024.
Petersburg
Raven’s Nest Regalia and Arts, owned by Dzijúksuk
Debra O’Gara, creates Northwest Coast and Tlingit art specializing in Ravenstail, Chilkat and cedar bark weavings and regalia, dancing button robes and vests, and small classes in weaving, sewing, and beading.
Raven’s Nest Regalia and Arts won the Business Competition in 2024.
Skagway Haines Klukwan
Yakutat
Juneau Gustavus
Pelican
Sitka
Hoonah
Tenakee Springs
Angoon
Kake
Petersburg
Klawock
Craig
Hydaburg
Photo by Muriel Reid.
Hoonah
Owner of Tlingit Botanicals Lisa Andersson provides responsibly, locally harvested products like Devil’s Club teas and salves to promote well-being and wisdom within our communities. Lisa participated in the three-day Resilience Circles workshop in Juneau last year. Photo taken in Hoonah.
Kasaan
Kasaan, Arts, Museum and Canoes, run by Bonnie and Stormy Hamar, provides immersive cultural tours of Kasaan’s rich Haida culture. Winners of the 2021 Business Competition, Haida carver Stormy crafts traditional canoes while Bonnie curates the gift shop and museum.
Sustainable Southeast Partnership
A dynamic collective uniting diverse skills and perspectives to strengthen cultural, ecological, and economic resilience across Southeast Alaska. SSP offers strategic planning services, facilitation support, and community planning to nonprofits, Tribes, and local governments across Southeast Alaska, working with communities to amplify and support their priorities. Spruce Root is the backbone organization for the SSP.
Seacoast Trust
Grounded in Indigenous values, the Seacoast Trust’s annual earnings support community self-determination. We understand that people and communities are inseparable from a healthy environment. If we want thriving rivers and forests, we need mechanisms that shift power and resources to those living here.
Business & Client Services
Our services for small businesses include one-on-one coaching, group workshops, online training, and preparing clients to apply for loans. We provide access to mentoring, education, networking, and funding so businesses can develop regenerative solutions. Customized career coaching and workshops teach technical skills, financial planning, soft skills, and leadership, supporting Southeast Alaskans’ education and career goals.
CDFI & Loan Services
Ketchikan
As a Community Development Financial Institution, Spruce Root provides small businesses with capital for existing and start-up financing needs. We provide responsible, affordable loans to people unable to get funding from a mainstream bank and technical expertise to help clients succeed throughout the entire life-cycle of their business.
Run by Naomi Michalsen, a Tlingit chef and grandmother, Kaasei Training and Consulting holds workshops that encourage participants to deepen their connections to self, community and environment. Naomi was a Business Competition winner in 2020, and has now become a Resilience Circles and Womens Retreat consultant.
BUSINESS & CLIENT SERVICES
Supporting Success
In 2024, Spruce Root’s client services team continued to expand the scope, depth, and impact of our support for entrepreneurs and individuals across Southeast Alaska.
Our programming spanned small business development, personal finance, workforce readiness, and culturally grounded leadership training through one-on-one coaching, targeted workshops, and cohort-based learning.
In 2024, professional development played a key role in enhancing the services we provide through our financial wellness programing and technical assistance. Our staff undertook trainings and certifications to enhance the quality of our one-on-one coaching and financial wellness curriculum. We continue to specialize our offerings to better meet
368
Unique clients served
% of total clients served who identified as Alaska Native 45.8%
I believe this is the best education I received that I did not get at university.”
PROGRAM PARTICIPANT
the diverse needs of the individuals and communities we serve. Moreover, the insightful questions of program participants reflect strong commitments to building a long-term foundation for themselves and their families.
Spruce Root’s technical assistance work is deeply rooted in relationships and community relevance. By building trust and aligning with Indigenous values, we foster systemic change through individual transformation. When entrepreneurs in our workshops build trust with one another, access the coaching and capital they need, and build businesses that provide for their families, communities, and culture, that is systems change in action.
Also in 2024, we strengthened internal capacity through new staff onboarding, cross-program collaboration, and the buildout of our Salesforce system for improved impact tracking. We are proud of the resilience, growth, and creativity demonstrated by our clients this year, and we are honored to support them on their journeys.
16
Communities served
2,671
Total hours of services provided
Tourists in front of locally owned bike rental shop in Skagway known as Klondike Electric Bikes. Photo by Shaelene Grace Moler.
Fostering Prosperity
Spruce Root’s Business Competition returned to its in-person roots in 2024, offering finalists a transformative experience grounded in peer connection, mentor guidance, and immersive learning.
Program administrator Izzy Haywood led eleven entrepreneurs representing eight Southeast Alaska communities to join together for a three-day intensive at the Jorgensen House in Juneau. The retreat format fostered collaboration and creativity, featuring 23 hours of instruction, engagement with 15+ mentors, and a lively networking reception.
Following the intensive, participants received individualized coaching to refine their business plans, pitches, and financial projections. Nine finalists submitted complete applications,
which were reviewed by a panel of judges in preparation for final award announcements in early 2025. Notably, this year’s cohort reflected a diverse mix of sectors, from food service to traditional arts to horse therapy.
We also continued to scale the Business Competition model statewide through our partnership with Alaska Growth Capital. Spruce Root staff led training for 30 entrepreneurs from the North Slope, Aleutians, and Bristol Bay regions in a boot camp format. This pilot reinforced the benefits of Spruce Root’s valuesled business curriculum and laid the groundwork for a combined Alaska’s intensive in 2025, further positioning our team as a statewide leader in Indigenous entrepreneur support.
PARTICIPANTS REPORTED BENEFITS SUCH AS:
This was the first time someone looked at my business idea and said, ‘Yes, this has value.’ That meant everything.”
Pictured: Debra O’Gara, Raven’s Nest Regalia, & Lance Mulligan, Sitkana Ocean Energy, 2024 Business Competition Winners.
RESILIENCE CIRCLES
Holistic Business Health
We launched a pilot project in 2024 called Resilience Circles (RC): a year-long program aimed at supporting Indigenous entrepreneurs, not only in business skillbuilding, but in personal healing and leadership growth.
Over the course of the year, RC hosted three participant retreats, coordinated more than 100 hours of one-on-one and group coaching, and convened sessions led by both internal team members and external practitioners.
Topics spanned financial planning, emotional regulation, values-based leadership, and cultural connection. Sessions like “Planning for Retirement” and “Conflict Resolution” were delivered alongside traditional storytelling, language practice, local plant knowledge, and community-grounded closing ceremonies. The September retreat marked a midpoint in the cohort’s journey, with the final retreat held in early 2025.
Participant feedback emphasized the importance of holistic support that honors Indigenous identities and lived experience. This year also saw a shift in coaching content toward branding, advanced business planning, and leadership development, reflecting the growing confidence and capacity of cohort members.
Resilience Circles is a defining feature of our technical assistance model, offering a rare and powerful space for wholeperson development. As the program evolves, we are committed to co-creating spaces that prioritize trust, culture, and restoration as essential components of entrepreneurial success.
“I would never have guessed that it would push my boundaries as it has, both mentally, physically, in all areas, and I think that’s going to be very powerful for the growth of my business and the opportunities I can give to others.”
LISA
YAKW XWAAN TLÁA
ANDERSSON
Photo taken in Haines, AK.
Pictured (left to right): Justyne Wheeler, Village Coffee Company, Yakutat; Mary Goddard, Alaska Mary; X’adasteen Connor Meyer; Kai Monture.
Resilience Circles
Edith’s Story
Indigenous chef and Spruce Root client Khaasda Tláa Edith Johnson is deeply dedicated to her craft, community and her staff. She showcases local ingredients and has a reputation for hiring employees who might not have opportunities elsewhere.
Seven years ago, Edith opened Our Town Catering. Afterwards, she received one-on-one business coaching from Spruce Root with Alana Peterson. “Spruce Root helped me a lot, especially with learning financial responsibility,” Edith said.
She participated in Spruce Root workshops on work readiness, soft skills, and the Path to Prosperity Master Class, a three-day workshop for experienced entrepreneurs looking to build resilience and take their business to the next level.
Then, in January 2023, Edith applied for one of Spruce Root’s largest loans to date to help finalize the purchase of Ludvig’s Bistro.
“This was my first time ever getting a business loan,” Edith said. “Having a team in your corner like Spruce Root, I just can’t even fathom doing it any other way,” she said.
Currently, Edith is participating in Spruce Root’s Resilience Circles program, made up of a cohort of Alaska Native entrepreneurs from Southeast Alaska.
“I’m super proud to be a part of the first-year pilot program,” she said.
Edith’s passion for her craft and dedication to her community and staff have led to her success. Her story is a testament to the resilience and hard work required to thrive. With the support of organizations like Spruce Root and a strong team by her side, Edith is making a significant impact in her community by staying true to her values and heritage.
KHAASDA TLÁA EDITH JOHNSON “
Having a team in your corner like Spruce Root, I just can’t even fathom doing it any other way”
OUR TOWN CATERING AND LUDVIG’S BISTRO
Photo taken in Sitka, AK.
Small Business Big Impacts
Spruce Root’s small business technical assistance remained a cornerstone of our programming in 2024, with an emphasis on responsive, relationship-based coaching led by Program Manager Marc Wheeler.
This year, we provided over 250 hours of one-on-one coaching to entrepreneurs across Southeast Alaska. Our coaches worked closely with clients to support business planning, marketing, operations, and problem-solving, resulting in 20 finalized business plans, 14 marketing campaigns, and support for two successful business exits.
Our Business Basics workshops reached artists and early-stage entrepreneurs in collaboration with partners like Sealaska Heritage Institute and the Chilkoot Indian Association. In November, we delivered our Business Basics for Artists curriculum virtually to 17 Indigenous artists, featuring updated content on pricing, grantwriting, and copyright law. Across the year, these workshops made space for creative professionals to strengthen their entrepreneurial mindset while building foundational business skills.
We also piloted a new grant program to connect high-priority clients with specialized services outside Spruce Root’s scope, including attorneys, marketing firms, and accountants. This flexible tool enabled clients to access targeted support for challenges such as early-stage customer acquisition, and we are excited to build upon this pilot in 2025. Our efforts this year reflect a broader strategy to meet entrepreneurs where they are—offering both core capacitybuilding and the connective tissue to external resources that fuel growth and sustainability.
hours of one-on-one coaching to entrepreneurs 250 jobs created 99
“ Their coaching helped me feel like I could actually do this.”
PROGRAM PARTICIPANT
Photo taken in Hoonah. Ian Johnson is leading a hike up the mountain with Addy Mallott and Lee House. Photo by Lee House.
Managing Money for the Future
2024, Spruce Root Financial Wellness programming expanded in reach and impact, growing both workshops and individualized coaching to deliver virtual and in-person workshops across Southeast Alaska, led by Program Manager Haley Armstrong.
An in-person workshop series in Craig, as well as virtual sessions, connected participants from communities across Angoon, Haines, Hoonah, Juneau, Prince of Wales, and Sitka. These workshops provided practical tools for building financial confidence and success, while fostering peer learning and culturally relevant discussions on money management.
Youth workshops were also held in person last year, the first of which took place during Sealaska’s Intern Connect Week, helping the interns build a strong financial foundation. Participants were encouraged to define what financial success means to them, as financial well-being is deeply personal. Interns gained practical skills in managing debt, budgeting, and planning for long-term financial goals.
The second workshop was for the Alaska Youth Stewards in Angoon, who thoughtfully identified what they wanted to prioritize in their spending and saving, asked insightful questions, and went beyond short-term goal setting, focusing on their education
and families, reflecting long-term commitments to themselves and their communities.
Throughout the year, Financial Wellness provided personalized coaching for individuals as they set financial goals, built credit, navigated banking systems, and addressed debt. Clients appreciated the empathetic, grounded approach, and many enjoyed outcomes such as opening their first bank accounts or qualifying for credit building products.
In partnership with organizations like Alaska Growth Capital and the Anchorage Community Land Trust, Spruce Root extended its Financial Wellness curriculum to Alaska Native entrepreneurs statewide, expanding reach and impact of financial empowerment.
“ PROGRAM PARTICIPANT
The class was great! Thank you so much for the resources and advice. Breaking everything down was really beneficial.”
Looking ahead, Financial Wellness is poised for expansion, supported by improving infrastructure, new curriculum on climate-resilient finance, and continued integration.
WORKFORCE DEVELOPMENT
Encouraging Careers Across Southeast
Over the past year, workforce development efforts have driven meaningful progress in building career pathways and technical education opportunities across Southeast Alaska. Through a series of collaborative calls and gatherings, workforce staff brought together partners from across the region, creating a shared space for learning, coordination, and innovation. These conversations featured voices from tribal organizations, educational institutions, and industry leaders, highlighting a collective commitment to strengthening the regional workforce.
Pictured: Hoonah Native Forest Partnership participants.
Fall work planning retreat in Kake. Photo features Dawn Jackson, Organized Village of Kake executive director, speaking to SSP catalysts about clam garden project. Photo by Shaelene Grace Moler.
Workforce staff provided critical project planning support during both the spring and fall Sustainable Southeast Partnership retreats for community and regional catalysts
alike.
12
In partnership with school districts, tribal governments, and higher education institutions, staff helped plan and deliver two intensive career and technical education experiences. Held in Juneau and on Prince of Wales Island, these events offered students and community members immersive opportunities to explore trades and technical careers. Alongside these efforts, workforce staff supported planning and visioning for community and regional catalysts during the Sustainable Southeast Partnership retreats, helping align local priorities with long-term regional goals.
Throughout the year, staff facilitated training sessions that focused on work readiness and soft skills, preparing participants for success in both traditional and emerging career paths. They also provided career coaching and mentorship to individuals seeking new opportunities, ensuring ongoing support for those navigating transitions or pursuing professional growth. Hard skills training expanded capacity for youth leaders, forest partners, and rural waste managers, building technical expertise in critical areas of need.
The team also took on strategic leadership roles, guiding programs like Paths to Prosperity and organizing a multiday departmental training that coincided with Celebration in Juneau. In Angoon, workforce staff engaged the community in a survey and outreach campaign to identify career pathways connected to local energy projects. They supported the delivery of the community’s first career and job fairs and contributed to a comprehensive workforce plan to advance training for heat pump installation and maintenance as part of the Decarbonizing the Tongass initiative.
hours of workforce development, caree and technical education calls, averaging 20 participants per session
hours of work readiness and soft skills training provided 85
Together, these efforts reflect a deep investment in cultivating a resilient and skilled workforce, rooted in the unique strengths and aspirations of Southeast Alaska’s communities.
Above left: Workforce development catalyst Michael Mausbach note taking during Kake fall SSP retreat with Lee House and Eloise Peables in the background.
right: Allison Mills, previous AYS member. Taken on Prince of Wales Island.
Photo by Shaelene Grace Moler.
Above
“Like a braided river, we are woven. While we may flow from different sources, at our convergence we are strongest.”
Our Region is Woven
Our growth involves deepening our roots and refining our approach. We are expanding our capacity by working with new Partners to hire Catalysts in more communities, and in fields that are critically important to our region. It brings us joy to witness the people we have worked with as youth transition into local leadership positions—many working with our growing network.
The SSP is effective because our partners are engaged. Our partners are willing to invest time and resources to be together every year because they believe in the power of collective impact. By meeting in person, and nurturing those relationships regularly online, our community is continuously strengthening and deepening our impact in the region.
We are grateful for our partners leaning into our values and pulling the canoe forward together. Collectively, if we know which direction our course is and our paddles are in sync, we are able to glide smoothly through any waters, whether they be calm or rough. We look forward to building collective capacity as a network of Southeast Alaskans celebrating over a decade of experience in solutions-based work.
Catalysts
— Marina Anderson Program Director Sustainable Southeast Partnership, Spruce Root
MARINA ANDERSON
Above: Marina Anderson, SSP Director holds the microphone for SSP Regional Forestry Catalyst Bob Christianson’s daughter Kolea at Sitka Spring Retreat.
Photo by Shaelene Grace Moler.
Katrina Hotch. Photo by Muriel Reid.
Kaylah Duncan and Laurel Stark at Spring retreat.
SHEET’KÁ (SITKA)
In spring 2024, more than 150 people representing over 70 Tribes, government agencies, non-profits, and businesses, participated in a three-day spring retreat which focused on relationship building, knowledge sharing, celebrating successes, and strategizing for upcoming projects.
“Our world needs examples of what a new reality can look like that isn’t embedded in consumerism and short-term quarterly profits. The Seacoast Trust is demonstrating what a modern take on Indigenous wisdom and care can teach us all: how to live and thrive from a place of wooch yax, balance.”
SPRUCE ROOT EXECUTIVE DIRECTOR ALANA PETERSON
Region-wide projects 80+
SEACOAST TRUST
The Seacoast Trust is designed to sustain the full scope of the Sustainable Southeast Partnership’s work. This strategic alignment ensures that the stewardship of lands and waters is inseparable from the well-being of the people who call this place home. Investments are guided by an all Indigenous committee of financial experts and community leaders, offering a values-driven model that is reshaping traditional philanthropic and financial practices.
Guided by Alaska Native values, Seacoast Trust principal is invested for future generations while accrued interest is available for use by the Sustainable Southeast Partnership (SSP). This past year marked a milestone of the first approved distribution of the Seacoast Trust. Funds are being used to support SSP partner projects and guardians positions.Our long-term pursuit of financial autonomy is demonstrating that conservation and community development can thrive independent of unpredictable federal funding.
As of December 2024, the Seacoast Trust has reached $27.5 million toward our ultimate vision of $100 million. This growth reflects a combination of strong market performance and generous new donor contributions. Our immediate goal is to reach $50 million, which would bring us halfway to our final target. Reaching this milestone will provide long-term support for SSP’s estimated $3.2 million annual budget, ensuring a durable impact for communities across the region.
The average measured benefit-cost ratio for SSP’s target communities was 7-to-1, meaning for a $40,000 commitment to a community, it translated to a $280,000 investment.
Jobs catalyzed 128+ $27.5 MILLION
As of December 2024, the Seacoast Trust has reached $100 MILLION Our ultimate vision
Facilitating Collaboration
2024 was a successful year for Community Facilitation programming, weaving together events, industries, and entrepreneurs to holistically support Alaska’s diverse business landscape. Our sincere thanks go out to retreat, summit, and workshop participants for heartfelt engagement.
In February, Spruce Root and Farragut Farm hosted and facilitated the first bi-annual Southeast Alaska Farmers Retreat at Eagle River Methodist Camp in Juneau. The three-day event included 18 participants representing 13 farms and one composting business. This retreat was structured for farmers to network, share lessons learned, and envision the future of farming in Southeast Alaska. This was accomplished through various activities, including farm presentations, a “Hive Mind” problem-solving session, and discussion groups focusing on marketing, financial sustainability, crops, techniques, tools, and more. Ecotrust attended, presented funding opportunities for farmers, and discussed the Salt & Soil Marketplace.
Later, Spruce Root partnered with The Sitka Chamber to deliver the first Emerging Leaders Summit in October at the University of Alaska Southeast. This two-day conference was focused on developing Southeast Alaska’s workforce through learning, skill-building, and networking, providing a unique opportunity for early-career professionals across Sitka and Southeast Alaska to build skills in leadership, personal finance, entrepreneurship, and work and wellness. Participants were highly engaged throughout the summit and built valuable connections. This pilot summit set the stage for a larger summit which will be held in partnership with Southeast Conference’s Annual Meeting in 2025.
DAVIS HOVEY
“
“I’ve been to a lot of conferences this year, but this is the first time I’m leaving one with a sense of hope.”
SUSTAINABLE SOUTHEAST PARTNERSHIP RETREAT PARTICIPANT
In November, the South Coast Workshop was hosted in Kodiak at the Afognak Center as the first in four climate adaptation workshops throughout the South Coast, Bristol Bay, Aleutians, and Southeast regions. This project is hosted by the Alaska Conservation Foundation (ACF), with coordination and facilitation support from Spruce Root and the St. Paul Aleut Tribe.
These workshops support community members in advancing climate resilience work by focusing on specific project ideas generated by the participants. Throughout three days, workshop participants worked collaboratively in project teams to create solutions to their challenges and brainstorm funding ideas in connection with coastal engineers from HDR and the Army Corps, as well as subject matter experts in climate adaptation planning.
These workshops have an emphasis on “Nature Based Solutions,” which are climate adaptation tactics that use natural infrastructure to mitigate coastal hazards, such as planting clam gardens to reduce erosion and ocean acidification.
South Coast Workshop participants stand outside the Afognak Center during a break in the rainy weather.
Photo taken in Kodiak, AK.
Pictured: Eloise Peables and Alexis Copsey from Kake.
PHOTO BY
LOAN PROGRAM
Investing in Our Region
Spruce Root’s community development financial institution (CDFI) lending in 2024 reflects a year of strategic growth and responsive capital aligned with community values. Through innovative financing, strong partnerships, and mission-aligned capital, we supported entrepreneurs across Southeast Alaska while deepening our investment in inclusive, regenerative development.
In 2024, Spruce Root’s CDFI Lending Program experienced remarkable growth and diversification in both lending activity and capitalization. As of Q4 2024, total loan funds closed and guarantees made to date reached $4.33 million, with 25 outstanding loans and 1 active guarantee, totaling nearly $3 million in active deployment, with 53% of total deployed capital benefiting Alaska Native or Sealaska shareholder clients.
We saw meaningful outcomes across our lending offerings—three new early-stage businesses accessed Fast-Start financing, two Fast-Start clients successfully transitioned to business expansion loans, and tailored restructures helped clients stay on track while preserving the strength of our overall portfolio.
The year also marked Spruce Root’s first utility-scale participation loan, partnering with Native American Bank to finance Metlakatla Power & Light’s smart grid upgrade.
$4,332,651
loan funds closed and guarantees made to date. in loans and guarantees outstanding.
LOAN PORTFOLIO AS OF YEAR END 25 LOANS WITH A PRINCIPAL BALANCE OF $2,174,068
$2,967,863
Loan clients live in 13 Southeast Alaska communities, and one client, holding two loans, is in Anchorage: Anchorage (1 client, 2 loans)
Craig (1)
Haines (2)
Hoonah (2)
Juneau (3)
Kake (1) Ketchikan (5)
Metlakatla (1) Petersburg (1)
Sitka (4)
Skagway (1)
Wrangell (1) Yakutat (1)
Borrower Spotlight
FISHABILITY: ALASKA’S FIRST ACCESSIBLE FISHING TOUR EXPERIENCE
“
“Giving people the chance to be on the water like anyone else—that’s a benefit beyond measure.”
JACK FINNEGAN
In 2024, Spruce Root financed Fishability Alaska, based out of Ketchikan—the first fishing tour operation in Southeast designed for wheelchair users, which is based out of Ketchikan. Founded by charter captain and accessibility advocate Jack Finnegan, the venture emerged from over a decade of experience working with people with disabilities and leading oceanbased excursions.
With a $400,000 loan, Jack is building a 37-foot, ADA-compliant vessel with a fold-down bow, flush flooring, and adaptive gear—ensuring safe, dignified ocean access. A Business Competition winner, Jack plans to launch in 2025, create six to ten jobs, and offer excursions for Elders and people with disabilities.
Fishability is more than a business; it’s a breakthrough in inclusive tourism.
Prince of Wales sockeye harvest. Photo by Lee House.
Statement of Activity
Meet Our Team
Front (left to Right): Aldyn Brudie, Haley Goodman, Will Kronick, Marina Anderson, Marc Wheeler, Michael Ching
Back row (Left to right): Shaelene Moler, Brooke Leslie, Izzy Haywood, Shannon Stevens, Val Massie, Haley Armstrong, Kennedy Kruchoski, Kaylah Duncan, Leslie Jackson, Kayla Roberts, Laurel Stark, Ashley Guthrie, Lisa Nelson, Ashley Snookes, Alana Peterson, Abbey Janes
Photo by Lione Clare.
Board of Directors
Ts’aang Gaa’y
Leslie Isaacs Chair
Kaaxúxgu Joe Nelson
Aanshawatk’i
Sarah Dybdahl
Láaganaay Tsiits Git’anee
Gunnuk’ Anthony Mallott
L’uxshakee Robert Allen
‘Wáahlaal Gíidáak
Barbara Blake
In addition, we’d like to show our appreciation for those who volunteer their time and are committed to advancing our vision. These committees serve at the will of the board.
Seacoast Trust Investment Committee
Ka Kugesh Leilani Wilson Walkush
Tin’aa Keet Matthew Vanderpool
‘Wáahlaal Gíidaak Barbara Blake
Chi’cut Laird Jones
Gunnuk’ Anthony Mallott
Yaa sh kanda.ets’ Kevin
O’Neal-Smith
Watsdáa Micah S. McNeil
Gah Kith Tin Alana Peterson (ex officio)
Sustainable Southeast Partnership Steering Committee
Yankawgé Crystal Nelson
Gah Kith Tin Alana Peterson
Bob Christensen
Bethany Goodrich
Kaaxúxgu Joe Nelson
Kaaxwaan Dawn Jackson
Chalyee Éesh Richard Peterson
Gunnuk’ Anthony Mallott
Aaron Poe
Andrew Thoms (Outgoing)
Sonia Ibarra (Incoming)
Sienna Reid (Incoming)
Allison Mills (Incoming)
Spruce Root Senior Loan Advisory Committee
Jaysen Katasse
L’uxshakee Robert Allen
Jon Panamaroff
Hugh Short
Gaachqweina Ricardo Worl
Sarah Allison
Jim Anderson
Chris Perez
Partners & Funders
We
take pride in our work and are grateful to serve the region by building collaborative and sustainable solutions to economic development. Alone, we will not succeed. Thank you to our partners and funders for continuing to support our mission!
Gunalchéesh, Hàw’aa, Nt’oyaxsn, Thank You!
AEL&P
AP&T
AK Litho
Alaska Brewing
Alaska Community Foundation
Alaska Conservation Foundation
Alaska Department of Commerce, Community & Economic Development
Alaska Outdoor Alliance
Alaska Venture Fund
Allen Marine
Alaska Native Heritage Center
Avista Foundation
Barnacle Foods
CDFI Fund
Central Council of the Tlingit & Haida Indian Tribes of Alaska
Chorus Foundation
City and Borough of Yakutat
Coalition for Green Capital
Couer Alaska Kensington Mine
Credit Builder’s Alliance
Economic Development
Administration
Ecotrust
Edgerton Foundation
Elgee Rehfeld
Evergreen Business Capital Foundation
Farragut Farm
First Alaskans Institute
Geofamily Foundation
Haa Tóoch Lichéesh Coalition
Hewlett Foundation
Home Planet Fund
Hoonah Indian Association
Jilkaat Kwaan Heritage Center
JumpScale
Klawock Cooperative Association
Kootznoowoo, Incorporated
Launch Alaska
M.J. Murdock Charitable Trust
Margaret A. Cargill Philanthropies
McKinley Research Group
McKinley Alaska Growth Capital
Native American Agriculture Fund
Native Conservancy
The Nature Conservancy
NDN Collective
Olamina Fund
Opportunity Finance Network
Oweesta Corporation
Patagonia
Rasmuson Foundation
Rain Coast Data
Renewable Energy Alaska Project
Rural LISC
Sealaska
Sealaska Heritage Institute
Shaan Seet Inc.
Simpson, Tillinghast, Sheehan & Araujo, P.C.
Sitka Conservation Society
Sitka Homeless Coalition
Sitka Tribe of Alaska
Skagway Development Corporation
Southeast Conference
Tamalpais Trust
Tongass Federal Credit Union
Tortuga Charitable Foundation
Twin Peaks Foundation
Tyree Charitable Trust
United States Department of Agriculture
United States Department of Agriculture Forest Service
United States Economic Development Administration
University of Alaska Center for Economic Development
Wilburforce Foundation
W. K. Kellogg Foundation
Wells Fargo Foundation
Wostman Associates
Wrangell Cooperative Association
No Tree Stands Alone
Spruce Root looks to Indigenous knowledge systems to inform our work. The story of Aas Khwáan, Tree People, was told by the late Clarence Jackson of the Tsaagweidi, Eagle/Killerwhale clan from Kake, Alaska. He told the story in Kake in 2012. With permission, it was then interpreted and retold by Kingeistí, David Katzeek, who gave us permission to share it here.
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Photo by Bethany Goodrich. Taken on Prince of Wales.