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Nonprofiteer
← SEED LA SUPPORT CORP

Form 990 for tax year 2023

Filed by SEED LA SUPPORT CORP.

Totals

Total revenue
$765,756
Total expenses
$487,433
Contributions and grants received
$295,000
Grants paid
$0
Program service revenue
$456,668
Investment income
$11,638
Other revenue
$2,450
Total assets, end of year
$97,649,617
Total liabilities, end of year
$89,003,345
Net assets or fund balances, end of year
$8,646,272
Program services expenses (Part IX)
$487,433
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$487,433

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $295,000

  • 2a · Program service revenue: LEASES & RENTAL

    total $456,668 · related or exempt $456,668

  • 3 · Investment income

    total $11,638 · related or exempt $11,638

  • 11a · Other revenue: LOCAL REVENUE

    total $2,450 · related or exempt $2,450

  • 11e · Other revenue, total

    $2,450

Functional expenses

Part IX, the statement of functional expenses.

  • 22 · Depreciation, depletion and amortization

    total $487,433 · program services $487,433

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,142,473 · end of year $715,217

  • 4 · Accounts receivable

    beginning of year $756,515 · end of year $210,994

  • 10a · Land, buildings and equipment: cost or other basis

    $97,055,120

  • 10b · Land, buildings and equipment: accumulated depreciation

    $487,433

  • 10c · Land, buildings and equipment, net

    beginning of year $77,668,459 · end of year $96,567,687

  • 12 · Investments: other securities

    end of year $130,719

  • 15 · Other assets

    beginning of year $25,000 · end of year $25,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,358,048 · end of year $4,927,574

  • 23 · Secured mortgages and notes payable

    beginning of year $65,896,127 · end of year $80,895,110

  • 25 · Other liabilities

    beginning of year $1,106,106 · end of year $3,180,661

  • 27 · Net assets without donor restrictions

    beginning of year $8,232,166 · end of year $8,646,272

Mission and programs · 2023

Mission

TO SUPPORT THE SERVICES AND PROGRAMS OF THE SEED SCHOOL OF LOS ANGELES COUNTY, INCLUDING TO OPERATE AND MAINTAIN AN EDUCATIONAL INSTITUTION THAT OPERATES CHARTER SCHOOLS; TO FACILITATE THE DEVELOPMENT OF CHARTER SCHOOLS; TO LEASE, OWN, MANAGE, AND MAINTAIN CHARTER SCHOOL FACILITIES; TO PROVIDE CHARTER SCHOOL FACILITIES AND OPERATIONAL AND OTHER SUPPORT TO CHARTER SCHOOLS; TO ASSIST PHILANTHROPISTS AND FOUNDATIONS IN SUPPORTING THE OPERATIONS AND GROWTH OF CHARTER SCHOOLS; AND TO PROVIDE AND OTHERWISE OBTAIN OR ASSIST IN OBTAINING CHARTER SCHOOL FINANCING. ADDITIONAL THE CORPORATION MAY ENGAGE IN ACTIVITIES THAT ARE REASONABLY RELATED TO OR IN FURTHERANCE OF ITS STATED PUBLIC AND CHARTIABLE PUBLIC PURPOSES, OR IN ANY OTHER CHARITABLE ACTIVITIES.

Activities or mission (Part I)

TO PROVIDE AN OUTSTANDING, INTENSIVE EDUCATIONAL PROGRAM THAT PREPARES CHILDREN, BOTH ACADEMICALLY AND SOCIALLY, FOR SUCCESS IN COLLEGE AND BEYOND.

  • AS OF 6/30/2024, THE GYM AND ROOFTOP GARDEN ARE THE REMAINING AREAS THAT ARE STILL UNDER CONSTRUCTION.

    Expenses $487,433 · Revenue $470,756

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • William Hamilton

    PRESIDENT/CHAIR/CEO

    Total calculated
    $0
    Hours/week
    1

  • Ruth A Stalford

    SECRETARY/CFO

    Total calculated
    $0
    Hours/week
    2 + 20 related

  • Jennifer K Price-Letscher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jeremy L Shane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carmen R Dixon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert B Burke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Jubria Lewis

    HEAD OF SCHOOL

    Total calculated
    $200,970
    From this org
    $0
    From related orgs
    $200,970
    Other
    $0
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,970 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $200,970 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SEED LA FACILITIES

    TO MANAGE AND MAINTAIN THE FIXED ASSETS USED FOR THE SEED SCHOOL OF LA COUNT · CA · income $470,756 · assets $97,547,997

Provenance

Return type
form_990
Tax year
2023
Filed
31 January 2025
IRS schema version
2023v6.0
Source object
202530319349301723

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