Issuu

COLLECTIVE STRENGTH

2025

Annual Report

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C O L L E C TIV E STRENGTH

Contents 05

Letter from the Executive Director

Where We Work

Strategic Plan P R O G R A M U P DATES

Business & Client Services

Business Competition

Resilience Circles

Small Business Support

Financial Wellness

Workforce Development

Community Facilitation

Sustainable Southeast Partnership & Seacoast Trust

CDFI Lending Services

Financials

Who We Are & Partners

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OUR VISION

O UR M ISSIO N

We amplify our Haida, Tlingit, and Tsimshian ancestral imperative to ensure Southeast Alaska thrives for future generations.

We are a driver of a regenerative economy across Southeast Alaska so communities can forge futures grounded in this uniquely Indigenous place.

O UR VALUE S

Prog re s

Trust

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ty Equ i

tewar d s us S hi

o en

Nati ve

ing at t h arn eS Le

i roc ip

wled o n

Perfectio ver n o | s

of ed pe

Balance | R ec

ance u nd b A

C O L L E C TIV E STRENGTH

A Letter from the Executive Director In my culture, there is a Tree People story about a hillside of spruce trees destroyed by a landslide. Only one tree survived. As new saplings took root, the surviving tree told them what had happened and taught them to intertwine their roots so they could withstand the next disaster. That story is why the organization I lead is called Spruce Root. It is also a promise: our survival is collective. Spruce Root’s logo reflects those intertwined roots, a testament to their quiet strength. Roots are sinuous and resilient, always growing, always adapting, supporting trees through landslides and storms. This year, I have seen our organization embrace that same lesson: the importance of remaining flexible and responsive to change, and the deep awareness that we cannot do this work alone. As needs increased and changed across our region, we adapted to meet it. Demand for capital rose sharply, and we doubled down in response. We expanded our team, restructured roles, and significantly increased the capacity of our lending program. These efforts were recognized with the SBA Micro-Lender of the Year Award: a reflection of both the need in our communities and the dedication of our amazing staff. Across all of our programs, we leaned into the Japanese philosophy of Kaizen—continuous, incremental improvement. We sought opportunities, both large and small, to strengthen and adapt our programs to better serve our region. One example of this approach is the evolution of our Path to Prosperity Business Competition. In 2025, Spruce Root deepened our partnership with Alaska Growth Capital (AGC), a Native Community Development Financial Institution based in Anchorage. Building on years of alignment between AGC’s Marketplace program and our Path to Prosperity model, the partnership expanded to include shared program design, mentorship, and training delivery. At Entrepreneur Camp—the program’s central event—Spruce Root led facilitation and program development, while AGC managed logistics. This collaboration streamlined delivery, reduced costs, and resulted in positive outcomes for the participants who grew a statewide network with other Indigenous entrepreneurs and industry professionals. At the same time, 2025 marked another moment of upheaval for our region. We have seen and felt the impacts of federal staffing changes and federal funding cuts, natural disasters, and an increasing affordability crisis. In the midst of these challenges, we have been inspired by the adaptability of this region. Rather than standing still in the face of funding loss, Spruce Root and our partners have focused on low-effort, high-impact solutions. This annual report demonstrates those efforts and underscores the idea that our survival is collective. The strength of our relationships: with one another, with our communities, and with the land. That belief continues to guide our work, and it will carry us forward.

With gratitude,

Gah Kith Tin Alana Peterson Spruce Root Executive Director

Pictured: Gah Kith Tin Alana Peterson

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Where & How We Work

Our Work Across the Region JUNEAU Our team facilitated the 2025 Southeast Alaska Farmers Summit in Juneau, bringing together formal presentations, farmer roundtable discussions, hands-on workshops, and networking opportunities for farmers from across the region.

HAINES Deer Heart restaurant was opened in 2025 by Travis Kukull, a 2024 Path to Prosperity Finalist and Spruce Root loan recipient. Deer Heart Restaurant strives to incorporate as much local food as possible, supporting farmers, fishermen, and foragers in the Chilkat Valley.

ANGOON At the Angoon Career Fair, Spruce Root staff supported planning efforts and delivered facilitation and presentations focused on climate-ready careers and workforce development opportunities.

KAKE In partnership with our borrower, Native Conservancy, Spruce Root supported a Kelp Farmer Immersion Training in Kake, expanding skills and access for emerging growers.

C O L L E C TIV E STRENGTH

HOW WE WORK

Sustainable Southeast Partnership WRANGELL Spruce Root staff traveled to Wrangell to offer a Business Basics workshop at the Nolan Center. Our Business Basics classes cover the foundations of growing a business with hands-on learning and practical tools.

Aligned with our mission of being a driver of a regenerative economy, we convene a dynamic collective uniting diverse skills and perspectives to strengthen cultural, ecological, and economic resilience across Southeast Alaska. We also offer strategic planning services, facilitation support, and community planning to regional nonprofits, businesses, Tribes, and local governments.

Seacoast Trust The Seacoast Trust’s annual earnings fund a new economic model for Southeast Alaska: grounded in Indigenous values and the understanding that our communities are inseparable from a healthy environment. The Seacoast Trust is a perpetual funding source for the Sustainable Southeast Partnership, and as of 2025 this strategic fund holds $30M, with the long-term goal of $100M.

Business & Client Services Spruce Root provides free and low-cost services to businesses across Southeast Alaska, including one-onone coaching, group workshops, online training, and loan-readiness support. We support Alaska Native entrepreneurs in pursuing culturally meaningful careers within successful Native-led businesses. We also offer financial wellness workshops for Southeast Alaskans interested in building a healthier relationship with money. Our workforce development program supports workplace readiness, leadership development, and skill building.

Loan Services KLAWOCK Shinaku Shellfish Co., an oyster farm near Klawock, is creating jobs and educational opportunities for local youth. The company is owned and operated by Maranda HammeMyers, a 2025 Path to Prosperity Business Competition winner.

As a Community Development Financial Institution (CDFI), Spruce Root provides lending services to meet the needs of all types of small businesses across Southeast Alaska at their various stages of development and growth. 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 lifecycle of their business.

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Strategic Plan

Looking Ahead: Our 2025– 2030 Strategic Plan The Spruce Root Board of Directors, staff, and Strategic Planning Committee began the process of building our new five-year strategic plan through a series of meetings and activities in 2024 and 2025. HOW WE GOT HERE Staff and the Board completed a situational analysis through a region-wide scenario planning process. This effort laid the groundwork for the design of surveys for clients, partners, and Spruce Root committee members. The survey data was then reviewed by the Strategic Planning Committee and used to develop a theory of change and draft strategic goals. Staff met through a series of in-person and virtual meetings to iterate on this work, which became the final strategic plan. The Board of Directors ratified the final strategic plan at their annual meeting in November 2025.

GOALS & OBJECTIVES Our goals guide the work we will focus on over the next five years. Each objective informs how we plan to achieve our goals. Objectives will be reviewed annually and may change or adapt over the next five years. Staff develop annual work plans to align with the strategic plan objectives.

G OA L 1

Utilize Indigenous knowledge and drive innovation to address economic challenges in Southeast Alaska O B JEC TI V ES

1. Programs prioritize village and Indigenous-led decision-making to support vibrant economies

3. Work with partners to build and deliver youth programming specific to business and innovation

2. Financial products, investments, and technology solutions support businesses rooted in Indigenous values

4. Strengthen traditional trading relationships inside and outside the region through lending activities, partnerships, and funding

C O L L E C TIV E STRENGTH

Strategic Plan

G OA L 2

Build relationships and networks to support collaboration O B J EC TI V ES

1. Support and participate in convenings and projects to address complex challenges in Southeast Alaska (e.g. housing, childcare, ferry service, etc.)

2. Shared approaches that align with the Indigenous approach to resources (e.g. convening is a leadership skill, pooled services, catalysts, partnerships, etc.)

G OA L 3

Attract investment to support sustainable and innovative economic growth in the region O B J EC TI V ES

1. Build, monitor, and utilize a “Projects Seeking Funding” list in the region to support and track the effectiveness of investments 2. Grow our CDFI revenue to increase economic impact in Southeast Alaska

3. Develop and grow product offerings for revenue streams to deliver facilitation and planning support 4. Deploy loans that further the mission of Spruce Root

G OA L 4

Commit to transparency and accountability O B J EC TI V ES

1. Programs are visible and engage diverse participation from our communities

T RAC K I N G O U R P R O G R ES S

2. Board and committees are actively engaged in the work of the organization

Each of our goals and objectives are tied to measurable outcomes that help us evaluate our success. Explore our full strategic plan to learn more about these metrics.

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Business & Client Services

Building Stronger Businesses and Communities

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The Business and Client Services (BCS) program is central to Spruce Root’s mission. Through BCS, we support clients across Southeast Alaska and provide accessible small business, financial wellness, and workforce development opportunities, through workshops, one-on-one coaching and cohort based learning. BCS works closely with other Spruce Root programs— particularly our lending program—by helping entrepreneurs build the skills, confidence, and readiness needed to access capital successfully.

“Spruce Root has supported me since the very beginning of my small business owner journey. ”

CLIENT HIGHLIGHT: JUSTYNE WHEELER Many of our BCS clients work with Spruce Root for years, taking advantage of the many services that BCS offers, and building capital and connections through our Lending Program and the Sustainable Southeast Partnership. 2020

Justyne’s journey with Spruce Root began in 2020 when she participated in our flagship entrepreneurship program, the Path to Prosperity Business Competition. Her business, Village Coffee—Yakutat’s first drive-thru espresso stand—won the competition, earning a $25,000 award. She used the funding to complete a professional baking course, design a logo, and purchase the land where she envisioned building her permanent coffee shop.

2024

Justyne was nominated by a community member to join the inaugural cohort of Resilience Circles, Spruce Root’s innovative leadership and business development program for Indigenous entrepreneurs in Southeast Alaska. By integrating cultural healing practices with modern business strategies, Resilience Circles strengthens Indigenous businesses while supporting community resilience throughout the region.

2025

In 2025, she received a microloan from Spruce Root to help cover payroll costs while she navigated the unexpected costs of her new brick-and-mortar coffee shop. Her new shop opened in April 2026.

PA RTI CIPANT G R OWT H & O UTC O M E S In 2025, participants across BCS programming reported meaningful progress: nearly 70% overcame personal or professional barriers, while more than 60% improved workplace effectiveness and expanded their professional networks.

535 unique clients served

23 communities served

45% % of total clients served who identified as Alaska Native

112 businesses launched

5,037 total hours of services provided

753 jobs supported

C O L L E C TIV E STRENGTH

Business Competition

Path to Prosperity Business Competition In 2025, the Path to Prosperity Business Competition was open to Alaska Native individuals with Southeast Alaska–based businesses. A key development in 2025 was the deepening of our partnership with Alaska Growth Capital (AGC), a Native Community Development Financial Institution based in Anchorage. After years of operating similar business competition programs for Alaska entrepreneurs, Spruce Root and AGC joined forces to better support Indigenous entrepreneurs across the state. PATH TO PROSPERITY ENTREPRENEUR CAMP A milestone of collaboration with AGC was the Path to Prosperity Entrepreneur Camp held in September 2025. For the first time, Spruce Root and AGC brought together 12 Southeast Alaska finalists with 18 entrepreneurs from the Bristol Bay, North Slope, and Aleutians regions for a four-day intensive training in Anchorage. Spruce Root led facilitation and program development, while AGC managed logistics—streamlining delivery, reducing costs, and strengthening organizational ties.

20 25 PAT H TO P R O SP E R IT Y WINNE RS:

Sea Fur Sewing, Sitka, owned by Robert Miller, is a business rooted in cultural knowledge, subsistence practices, and craftsmanship. Sea Fur Sewing offers heirloom-quality products from sustainably harvested materials like seal and sea otter, while also teaching workshops that pass down knowledge of harvesting, processing, and sewing to the next generation. Shinaku Shellfish Co, Klawock, owned by Maranda Hamme Myers, is a family oyster farm rebuilt from the ocean surface up. Over the past four years, Shinaku has transformed a neglected site into a thriving farm that produces well-loved oysters, creates seasonal jobs, and puts local kids on the water–working the farm and learning through real, hands-on experience.

TRAINING, MENTORSHIP, AND BUSINESS DEVELOPMENT Training emphasized triple-bottom-line business models and regenerative practices, equipping entrepreneurs with tools to measure success beyond profit. Following the camp, finalists continued refining business plans with one-on-one coaching, with 10 of 12 participants submitting final plans for evaluation.

#Southeast Alaskan finalists: 12 #Southeast Alaskan communities represented: 11 #hours of instruction: 28 #mentors involved in program: 18

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Resilience Circles

Participants explore “Earth Gym,” an activity centered on holistic health and connection with the natural world.

INDIGENOUS ENTREPRENEUR RESILIENCE PROGRAM In partnership with JumpScale, Spruce Root delivered Resilience Circles, a 12-month, culturally grounded program that supported Alaska Native entrepreneurs in strengthening their businesses and personal well-being. The program combined trauma-informed wellness practices, culturally affirming peer support, and business training rooted in Indigenous values, including haa latseen—strength of mind, body, and spirit. PROGRAM DELIVERY AND COHORTS In spring 2025, Cohort One completed the 12-month Resilience Circles program with a final retreat in Hawai’i centered on cultural exchange. Throughout the program, participants attended four inperson retreats that wove together Indigenous language, culture, and ceremony with business planning, personal finance education, and mental wellness support. The curriculum also explored leadership, conflict resolution, and quality job creation.

Building on the success of the inaugural cohort, Cohort Two gathered in Juneau for its first retreat in November 2025, with three additional retreats planned for 2026.

“Going through this program has been a lot of understanding of my character, my values, understanding of why I do things, and how I do them.”

OUTCOMES AND IMPACT

P R O G R AM PART IC IPANT

Between retreats, participants received monthly one-on-one coaching from more than 18 mentors, participated in cohort learning sessions, and engaged in cultural practices such as talking circles and subsistence activities.

Evaluation of Cohort One demonstrated gains in wellness, entrepreneurial capacity, and business resilience, alongside strong qualitative outcomes in confidence, identity, and leadership. Participants secured financing, improved operations, and strengthened community connections, with 100% indicating they would recommend the program.

1054 hours of one-on-one coaching to entrepreneurs

8 communities represented

C O L L E C TIV E STRENGTH

Small Business Support

Helping Small Businesses Thrive SMALL BUSINESS PROGRAM DELIVERY AND PARTNERSHIPS In 2025, Spruce Root strengthened small business support through strategic partnerships and targeted programming. In collaboration with Sealaska Heritage Institute, two Business Basics for Artists workshops expanded access to entrepreneurship training for Alaska Native artists. These courses were also offered for credit through the University of Alaska Southeast, creating pathways for skill-building and credential attainment. This partnership continues into 2026. A new climate-adaptive business practices workshop was delivered to clients and Sustainable Southeast Partnership partners. This focus on social, environmental, and economic adaptation informs the reimagined Master Class, launching in 2026 with in-person and virtual options for midstage business owners. MARICULTURE SECTOR SUPPORT Spruce Root deepened its commitment to mariculture across Southeast Alaska. Engagement at the 2025 Alaska Mariculture Conference connected staff with 12 current and prospective

“

“Above and beyond what I anticipated. Lots of great info and direction! Think this is good for everyone starting out.”

B U S I N ES S B AS IC S PART IC IPANT

oyster farmers. Support included a $50,000 loan to Sea Quester Farms for a kelp farming vessel near Juneau, business planning for Merrick Shellfish near Sitka, and technical assistance for Salty Lady Seafoods and Tomasso Shellfish. In partnership with Native Conservancy, Spruce Root supported two Kelp Farmer Immersion Trainings in Kake and Metlakatla. COACHING SUPPORT Our small business coaching services continued to grow in 2025, totaling 501 hours of direct support to entrepreneurs across a wide range of industries. Demand for coaching remains high, reflecting the ongoing need for accessible business development guidance and technical assistance. By continuing to offer coaching at no cost, we help remove barriers for entrepreneurs seeking support to strengthen and grow their businesses.

501 hours of coaching

166 workshop hours

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Financial Wellness

Building a Healthy Money Mindset FINANCIAL WELLNESS PROGRAM EXPANSION In 2025, Spruce Root’s Financial Wellness program expanded its reach through new, condensed one-hour workshops designed for accessibility and relevance. New offerings included Fishing and Finances, tailored to commercial fishing and maritime workers navigating variable incomes, and Climate-Proofing Your Finances, which helped participants prepare for climate-related disruptions while aligning financial decisions with environmental values. Investing in the Future was also launched as an advanced workshop to support participants in building long-term wealth beyond foundational financial skills. PARTNERSHIPS AND YOUTH ENGAGEMENT

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Partnerships with Sealaska Heritage Institute (SHI), Goldbelt, and Sealaska internship programs expanded access to financial education for youth and emerging professionals. These sessions emphasized spending habits, financial decision-making, and long-term planning. During the Alaska Youth Stewards all-crew training in Glacier Bay, hosted by Tlingit & Haida, participants engaged in hands-on learning, applying budgeting frameworks that distinguish between needs, wants, and savings. STRENGTHENING FINANCIAL RESILIENCE Through targeted programming and community partnerships, the Financial Wellness program continued to build financial capability and resilience across Southeast Alaska, supporting individuals in making informed, values-aligned financial decisions.

“What I didn’t have before I started with Spruce Root was knowledge. Now I feel like I have discipline. I have a plan.” O SM AN CASC O

C O L L E C TIV E STRENGTH

Financial Wellness

Making the Dough SMALL HABITS ADD UP ON OSMAN CASCO’S JOURNEY TO FINANCIAL WELLNESS

Osman Casco has always dreamed of owning a pizza food truck. Os, who works as a chef in Juneau, knew that developing a solid business plan was the first step in making this aspiration a reality. A Google search led him to Spruce Root’s website, where he saw an upcoming financial wellness workshop. “I never felt like I had the skills to manage money,” Os explains, “I saw Spruce Root’s course and…I didn’t know exactly how things were going to go, but I knew if I took a step forward it would help me toward my goals.” Now he has been attending financial wellness programming and participating in coaching with Spruce Root Financial Wellness Program Manager, Haley Armstrong, for nearly a year. These experiences have allowed Os to build more confidence around implementing financial management practices in his life. Seemingly small habits have added

up in big ways. For Os, who grew up in Miami before settling down in Juneau, supporting family from afar is an important value. “Now that I have better money management, I can help out my family,” he says. Os’ business plan is still on the horizon, too. “I’m a big manifester,” he shares. “I have a drawing of the pizza food truck that I keep with me. What I didn’t have before I started with Spruce Root was knowledge,” Os says. “Now I feel like I have discipline. I have a plan.”

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Workforce Development

Supporting Career Growth Across Southeast Alaska CAREER COACHING AND

REGIONAL EVENTS AND

INDIVIDUAL SUPPORT

COMMUNITY ENGAGEMENT

In 2025, Spruce Root’s workforce development efforts supported individuals at all career stages through personalized coaching. Participants covered topics including workplace conflict, leadership development, strategic planning, job search navigation, and interview preparation. These sessions resulted in tangible outputs, including completed resumes, cover letters, career plans, work plans, and self-assessments that strengthened confidence and readiness.

Staff played a key role in convening and supporting regional initiatives. The Southeast Leadership Summit in Sitka brought together 50 emerging leaders for career and leadership development in partnership with the Sitka Chamber of Commerce. At the Angoon Career Fair, staff supported planning efforts and delivered facilitation and presentations focused on climate-ready careers. Additional contributions included strategic planning support for the Sitka Sound Science Center and fundraising support for the Angoon Guide and Fly Fish Academy.

YOUTH AND EMERGING WORKFORCE DEVELOPMENT Work readiness and soft skills programming emphasized youth and young adult development through partnerships with the Sustainable Southeast Partnership and organizations such as Alaska Youth Stewards and Sitka Conservation Society. Additional support was provided to Sealaska interns and participants in the CODEFY cohort, expanding access to career pathways and professional skill-building opportunities.

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REGIONAL COORDINATION

77 hours of coaching

141 workshop hours

AND SYSTEMS BUILDING Ongoing coordination remained central to this work. Monthly workforce development and career and technical education calls brought together partners from Tribes, Alaska Native Corporations, nonprofits, and the University system to share resources and align regional workforce strategies.

“This program provides value by demonstrating an understanding of Alaskans and the challenges we face as rural and native professionals.” C OAC HING C LIE NT

111 participants

C O L L E C TIV E STRENGTH

Community Facilitation

Left: Participants of the 2025 Southeast Emerging Leaders Summit in Sitka. Right: Southeast Alaska Farmer’s Summit.

Facilitating Collaboration Spruce Root has over a decade of experience supporting rural and Indigenous communities in strategic planning, facilitation, and community engagement. We focus on creating engaging events rooted in trust and relationship-building that align with our mission to drive a regenerative economy in Southeast Alaska. This work allows us to shift the landscape in which we operate, allowing groups of people to be more effective collaborators. In 2025, we facilitated over 9 events for our partners. These ranged from the Southeast Alaska Farmers Summit, where farmers shared technical expertise on how to grow bountiful food in our soggy climate, to supporting the Yak Tat Kwaan in developing a Theory of Change that explains how their mission drives their work on the ground. Additionally, we supported the U.S. Forest Service by designing a community engagement strategy for the Forest Plan Revision, developed a strategic plan for the Yakutat Tlingit Tribe’s Guardians Program, hosted a Southeast Emerging Leaders Summit, and supported the Alaska South Coast Partnership with their first fall retreat – all while focusing on Spruce Root’s very own Strategic Plan update!

COMMUNITY FACILITATION EVENTS IN 2025 • •

• •

•

• • •

•

Farmers Summit 3 Regional Climate Adaptation Workshops: Southeast, Bristol Bay, and the Aleutians Yak Tat Kwaan Theory of Change Tongass Forest Plan Revision 2026 Community Meetings Facilitation Plan Yakutat Tlingit Tribe Guardians Council Focus Group and Community Meeting 2 Alaska South Coast Partnership Fall Retreat Southeast Emerging Leaders Summit Alaska Native Brotherhood and Alaska Native Sisterhood Grand Camp Workshop Sitka Conservation Society 2025 Staff Retreat

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Sustainable Southeast Partnership

A Shared Vision for Southeast Alaska The Sustainable Southeast Partnership (SSP) is a dynamic collective network uniting diverse skills and perspectives to strengthen cultural, ecological, and economic prosperity across Southeast Alaska. Through purposeful collaboration, the SSP envisions self-determined, connected communities where Indigenous values inspire society and ensure future generations thrive on healthy lands and waters.

SSP catalysts

13 122

region-wide projects

collaborative partners

77 jobs catalyzed

Since 2019, Spruce Root has served as the backbone organization for the Sustainable Southeast Partnership (SSP), providing staffing, fiscal management, compliance, and coordination for regional gatherings.

communities connected to our work

REGIONAL COLLECTIVE IMPACT AT WORK: 10 YEARS OF CULTIVATING FOOD SECURITY THROUGH “MOBY” THE MOBILE GREENHOUSE Rural Alaskans rely heavily on food supply chains dependent on barges traveling thousands of miles to deliver fresh produce and groceries. The SSP has long supported community-led approaches to self-reliance and access to affordable, healthy, local foods. In 2015, partners within the SSP launched Moby the Mobile Greenhouse as a catalyst for community-driven food systems work across Southeast Alaska. Traveling by ferry from community to community, Moby provided hands-on learning opportunities, fostered collaboration, and helped local leaders exchange ideas and strategies for growing food in rural Alaska.

Hoonah and Yakutat were among Moby’s stops over the past decade. Moby visited Hoonah for the first time in 2017, catalyzing a community garden initiative, leading to the Hoonah Indian Association’s completion of a massive 30’x60’ heated greenhouse in 2025. It includes 90 hydroponic towers capable of producing up to 4,680 heads of lettuce at a time, along with space for approximately 100 vine crops. Moby visited Yakutat in 2018, where it helped catalyze a small group of community leaders to imagine and plan an expansion of the local community garden. Today the Yakutat Tlingit Tribe Community and Market Gardens includes 2 greenhouses, 44 raised beds, and a compost house. The garden offers community workshops throughout the year.

C O L L E C TIV E STRENGTH

Seacoast Trust

Putting Our Trust in the Future “Like a healthy watershed, the Seacoast Trust doesn’t just store resources; it ensures these resources flow where needed, when needed, independent of political or philanthropic shifts that may occur.” S H A EL EN E G R AC E M O LE R

SE AC OAST T R UST

The Seacoast Trust is a perpetual funding source for the Sustainable Southeast Partnership (SSP), designed to sustain the full scope of the partnership’s work. This strategic fund ensures that the stewardship of lands and waters in Southeast Alaska is in the hands of the people who call this place home. Seacoast Trust principal is invested for future generations while accrued interest is distributed to fund the annual budget of the SSP. 2025 marked a significant milestone for the Seacoast Trust with its first-ever distribution of $450,000 to support SSP catalyst salaries and community projects. Guided by the SSP Steering Committee’s assessment of partnership priorities and community needs, funds supported the following:

1. 2. 3.

SSP salary match funding for Community Catalysts in Angoon, Chilkat Valley, Craig, Hoonah, Kasaan, and Skagway, ensuring stable, place-based partnerships across the region. A distribution for match funding for the Seacoast Indigenous Guardians Network (SIGN) was approved but not spent. This award was intended to supplement staff capacity and guardian salaries, strengthening long-term stewardship, monitoring, and the protection of cultural and ecological resources. Project support funds for community-driven projects, including the Sitka Conservation Society’s Sea Pony Press, and Salmon Camp in the Chilkat Valley.

$100

$450,000

MILLION Our long term fundraising goal to support the activities and projects of the SSP network in perpetuity.

First-ever distribution of $450,000 in 2025 to support SSP catalyst salaries and community projects.

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CDFI Lending Services

Investing in Our Region

49%

72%

active (FY 2025) loans and guarantees ($) were to Alaska Natives

total historical guarantees and loan funds closed (#) have been to Alaska Natives

TRANSFORMATIONAL GROWTH Spruce Root’s lending activity grew substantially in 2025. The loan portfolio reached over $5 million with total dollars deployed since inception approaching $10 million. An exciting development in 2025 was the launch of the Tongass Energy Bank, a $10 million fund supported by a loan from the Coalition for Green Capital, which provides investment capital for innovative energy projects in Alaska Native villages and rural communities in Alaska. INVESTING IN VISION AND RELATIONSHIPS Spruce Root’s growth in lending activity is directly related to the success of our Business and Client Services (BCS) and Sustainable Southeast Partnership (SSP) programs. BCS helps individuals prepare to act and invest, and the CDFI Lending program brings the capital investment to move projects forward. The SSP creates and inspires networks focused on helping Southeast Alaska communities catalyze their visions for the future. In 2025, Spruce Root saw continued leverage of this three-part strategy with investments in community resilience for the Metlakatla energy grid ($2 million), Indigenous-led mariculture with the Native Conservancy ($300,000), and Spruce Root’s first investment in ocean farming through Sea Quester Farms’ kelp farming operation. ALASKA’S FIRST MICROLENDER In 2025, Spruce Root became Alaska’s first Small Business Administration (SBA) microlender. SBA microloans focus on supporting minority and traditionally underserved borrowers by providing access to capital to start and grow their businesses. The CDFI team successfully deployed $180,000 in microloans to seven clients.

$8,292,385 $5,213,357

in loans and guarantees outstanding.

Loan clients live in twelve Southeast Alaska communities. 9. Wrangell (1) 1. Hoonah (3) 5. Juneau (6) 10. Yakutat (2) 2. Metlakatla (2) 6. Haines (2) 3. Ketchikan (4) 7. Skagway (1) 11. Petersburg (1) 12. Ward Cove (1) 4. Sitka (8) 8. Kake (1) There is also one client holding one (1) loan in Cordova, and one (1) client, holding two loans, in Anchorage.

Recreation/Entertainment (9) LOA N PO RTF OL I O AS O F Y E A R E N D

loan funds closed and guarantees made to date.

Fishing (5)

Accommodations (4) Food Services (4) Public utility (2) Manufacturing/Wholesale (2) Retail (5) Professional Services (2) Construction (3) Health Care (3) Agriculture (3) Tourism (14) * Mariculture (3) **

* Borrowers may fit into more than one category

C O L L E C TIV E STRENGTH

CDFI Lending Services

Borrower Spotlight

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D E E R HE ART R ESTAU R A N T

“People are tired of struggling with their small businesses. You can see it all over, and they want some real feedback. They want some real planning. And Spruce Root offers those tools.” T RAVIS K U K U L L

The first year can be an especially vulnerable time for a new business. Unexpected expenses can shut down an operation before it even has a chance to turn a profit. Microloans can provide critical relief for businesses facing costly setbacks. When Deer Heart restaurant opened in Haines last year, a micro loan quickly became a key ingredient for their survival. Owner Travis Kukull, a 2024 Path to Prosperity finalist, has extensive experience in the restaurant industry, and he knew launching Deer Heart for the 2025 season without a significant cash reserve was a risk. His concerns quickly proved valid, as the restaurant immediately faced a series of expensive hurdles, including mechanical issues, refrigeration repairs, costly employee training, and delays transferring the beer and wine license. “We were struggling, and so I reached out to Spruce Root and got a SBA microloan. Spruce Root made the process easy and quick, and that loan helped us survive through those tough moments. Soon enough, the staff was trained, the restaurant was functioning, and the beer and wine license transferred. By the end of the summer, I was able to pay off the loan completely.” Now entering its second year, Deer Heart continues to offer an incredible dining experience, rooted in the abundance of the Chilkat Valley. Everything is prepared by hand, beautifully presented, and thoughtfully sourced.

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2025 Audited Financials

Statement of Activity Consolidated total income $5,281,480.00 S P R U C E R O OT I N C O ME

SE AC OAST T R UST INC O ME

Consolidated total expenses $5,579,513 S PR U C E R O OT EXPEN S E S

SE AC OAST T R UST E XP E NS ES

Fundraising (6%) Management and general 8.9%)

Program Services (85%)

Management & general (100%)

C O L L E C TIV E STRENGTH

Finances

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Who We Are

Meet Our Team

Front (from left): Aldyn Brudie, Haley Goodman, Will Kronick, Keli’ikuli (Anderson), Marc Wheeler, Michael Ching Back row (from left): 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

C O L L E C TIV E STRENGTH

Who We Are

Board of Directors

Ts’aang Gaa’y Leslie Isaacs Chair

Kaaxúxgu Joe Nelson

Gunnuk’ Anthony Mallott

Aanshawatk’i Sarah Dybdahl

Láaganaay Tsiits Git’anee

Chris Perez (Outgoing Board Member)

‘Wáahlaal Gíidáak Barbara Blake

L’uxshakee Robert Allen

Debra Dzijúksuk O’Gara (Incoming Board Member)

Gunalcheesh to outgoing Board Member Chris Perez for more than 10 years of service on the Spruce Root Board. Chris has offered indispensable guidance throughout his years of service. Without him this would not have been possible.

In addition, we’d like to show our appreciation for those who volunteer their time and serve at the will of the board of directors, including the Seacoast Trust Investment Committee, Sustainable Southeast Partnership Steering Committee and Spruce Root’s Senior Loan Advisory Committee: Seacoast Trust Investment Committee Ka Kugesh Leilani Wilson Walkush Chi’cut Laird Jones Gunnuk’ Anthony Mallott Yaa sh kanda.ets’ Kevin O’NealSmith Watsdáa Micah S. McNeil Gah Kith Tin Alana Peterson (ex officio)

Sustainable Southeast Partnership Steering Committee Julia Nave Barbara ‘Wáahlaal Giidaak Blake Katie Riley Ian Johnson Sienna Reid Sonia Ibarra Láaganaay Tsiits Git’anee Alana Peterson Bob Christensen Bethany Goodrich Kaaxúxgu Joe Nelson Kaaxwaan Dawn Jackson Chalyee Éesh Richard Peterson Gunnuk’ Anthony Mallott

Spruce Root Senior Loan Advisory Committee Jaysen Katasse L’uxshakee Robert Allen Hugh Short Gaachqweina Ricardo Worl Sarah Allison Alana Peterson (ex officio)

2 02 5 AN N UAL R E PO RT | S P R U C E R O OT

ANC HO R PART NE R Expands access to capital and lending, supports cohort-based learning, advances generational investment through the Seacoast Trust, and creates lasting synergy across all programs.

Partners & Funders We take pride in our work and are grateful to serve the region by building collaborative, sustainable solutions that advance 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!

Alaska Conservation Foundation Alaska Venture Fund Chorus Foundation Coalition for Green Capital M.J. Murdock Charitable Trust Margaret A. Cargill Philanthropies Edgerton Foundation Hewlett Foundation Home Planet Fund Mott Philanthropic The Nature Conservancy Rasmuson Foundation Sealaska Wilburforce Foundation W. K. Kellogg Foundation Yield Giving

C O L L E C TIV E STRENGTH

CATALYT IC PARTN ER Provides Business and Client Services workshops at no cost to Southeast Alaskans, convenes regional gatherings that strengthen connections and collaboration, and supports community planning and development efforts.

Alaska Community Foundation Alaska Department of Commerce Community & Economic Development Alaska Growth Capital Alaska Outdoor Alliance Allen Marine CDFI Fund Central Council of the Tlingit & Haida Indian Tribes of Alaska Disney’s Signature Experiences Ecotrust Economic Development Administration JumpScale Native Conservancy Native Movement NDN Collective Olamina Fund One Small Planet Foundation Opportunity Finance Network Oweesta Corporation Southeast Conference Tamalpais Trust

Tongass Federal Credit Union Tortuga Charitable Foundation United States Department of Agriculture United States Department of Agriculture Forest Service United States Department of Energy United States Economic Development Administration United States Small Business Administration University of Alaska Center for Economic Development Wells Fargo Foundation Wostman Associates Wrangell Cooperative Association S U STA INING PART NE R Supports core operations, including small business and financial wellness coaching, business competition awards, and provide organizational stability to ensure programs and services remain strong and accessible.

AEL&P AP&T AK Litho Alaska Native Heritage Center Avista Foundation Barnacle Foods

City and Borough of Yakutat Chugach Regional Resource Commission Couer Alaska Kensington Mine Credit Builder’s Alliance Elgee Rehfeld Farragut Farm First Alaskans Institute Geofamily Foundation Haa Tóoch Lichéesh Coalition Hewlett Foundation Home Planet Fund Klawock Cooperative Association Ketchikan Indian Community Kootznoowoo, Incorporated Launch Alaska McDonald Jacobs McKinley Research Group Rain Coast Data Renewable Energy Alaska Project Rural Community Assistance Corporation Sealaska Heritage Institute Shaan Seet Inc. Simpson, Tillinghast, Sheehan & Araujo, P.C. Sitka Conservation Society Sitka Tribe of Alaska Skagway Development Corporation State of Alaska Division of Forestry Sustainable Southeast Partnership

Photos in this report: Colin Arisman, Lione Clare, Bethany Goodrich, Osman Casco, Shaelene Grace Moler, Garret Montomery, Erin O’Farrell, Mark Wheeler