Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $202,215

• 1e · Government grants (contributions)

  $3,604,601

• 1f · All other contributions, gifts and grants

  $865,591

• 2a · Program service revenue: PER PUPIL ALLOCATION

  total $18,458,557 · related or exempt $18,458,557

• 2b · Program service revenue: SCHOOL BASED HEALTH CA

  total $66,024 · related or exempt $66,024

• 3 · Investment income

  total $14,675 · excluded $14,675

• 8a · Fundraising events: gross income

  $26,206

• 8a · Fundraising events: contributions included on line 1c

  $202,215

• 8b · Fundraising events: direct expenses

  $79,225

• 8c · Net income from fundraising events

  total -$53,019 · excluded -$53,019

• 11a · Other revenue: BAD DEBT RECOVERY

  total $88,558 · excluded $88,558

• 11b · Other revenue: CAFETERIA

  total $36,424 · excluded $36,424

• 11e · Other revenue, total

  $124,982

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $40,846 · program services $40,846

• 5 · Compensation of officers, directors and key employees

  total $403,621 · management and general $403,621

• 6 · Compensation of disqualified persons

  total $9,222,953 · program services $8,553,164 · management and general $476,124 · fundraising $193,665

• 8 · Pension plan contributions

  total $306,236 · management and general $306,236

• 9 · Other employee benefits

  total $1,119,280 · program services $1,951,870 · management and general -$886,259 · fundraising $53,669

• 10 · Payroll taxes

  total $734,375 · program services $10,156 · management and general $724,118 · fundraising $101

• 11a · Fees: management

  total $1,103,000 · management and general $1,103,000

• 11b · Fees: legal

  total $23,436 · program services $1,500 · management and general $21,936

• 11c · Fees: accounting

  total $166,027 · management and general $166,027

• 11g · Fees: other

  total $1,609,045 · program services $1,426,943 · management and general $112,787 · fundraising $69,315

• 12 · Advertising and promotion

  total $50,101 · program services $23,541 · fundraising $26,560

• 13 · Office expenses

  total $237,187 · program services $194,963 · management and general $36,092 · fundraising $6,132

• 14 · Information technology

  total $143,978 · program services $112,140 · management and general $31,818 · fundraising $20

• 16 · Occupancy

  total $1,359,007 · program services $1,270,654 · management and general $58,947 · fundraising $29,406

• 17 · Travel

  total $947,448 · program services $917,758 · management and general $22,803 · fundraising $6,887

• 19 · Conferences, conventions and meetings

  total $183,331 · program services $167,867 · management and general $14,800 · fundraising $664

• 20 · Interest

  total $400,242 · program services $374,146 · management and general $17,411 · fundraising $8,685

• 22 · Depreciation, depletion and amortization

  total $1,529,580 · program services $1,431,849 · management and general $65,204 · fundraising $32,527

• 23 · Insurance

  total $440,874 · program services $23,438 · management and general $416,892 · fundraising $544

• 24a · Other expenses: STUDENT FOOD SERVICES

  total $1,343,943 · program services $1,320,221 · management and general $16,788 · fundraising $6,934

• 24b · Other expenses: STUDENT ACTIVITIES

  total $1,314,014 · program services $1,265,471 · management and general $27 · fundraising $48,516

• 24c · Other expenses: DEVELOPMENT EXPENSES

  total $86,770 · fundraising $86,770

• 24d · Other expenses: BAD DEBT EXPENSES

  total $59,065 · program services $66,402 · management and general -$7,337

• 24e · All other expenses

  total $112,548 · program services $20,734 · management and general $90,636 · fundraising $1,178

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,901,886 · end of year $7,994,041

• 3 · Pledges and grants receivable

  beginning of year $3,896,760 · end of year $1,376,156

• 4 · Accounts receivable

  beginning of year $1,176 · end of year $4,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $104,498 · end of year $220,399

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

  $53,060,655

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

  $17,349,795

• 10c · Land, buildings and equipment, net

  beginning of year $36,780,150 · end of year $35,710,860

• 15 · Other assets

  beginning of year $1,630,750 · end of year $1,702,544

• 17 · Accounts payable and accrued expenses

  beginning of year $1,331,839 · end of year $1,548,576

• 19 · Deferred revenue

  beginning of year $82,960 · end of year $150,000

• 20 · Tax-exempt bond liabilities

  beginning of year $15,745,670 · end of year $14,692,307

• 25 · Other liabilities

  beginning of year $41,827 · end of year $157,474

• 27 · Net assets without donor restrictions

  beginning of year $27,191,941 · end of year $27,672,864

• 28 · Net assets with donor restrictions

  beginning of year $2,920,983 · end of year $2,786,779

The filer's explanations (Part III)

PART I, LINE 1A

KIRK SYKES, HEAD OF SCHOOL RECEIVED NON-TAXABLE HOUSING BENEFITS IN THE AMOUNT OF $18,000. THE HEAD OF SCHOOL AS A REQUIREMENT OF EMPLOYMENT MUST RESIDE ON CAMPUS. HOUSING IS PROVIDED FOR THIS PURPOSE.

PART I, LINE 3

THE SEED SCHOOL OF MARYLAND IS RELATED TO THE SEED FOUNDATION. THE SEED FOUNDATION PROVIDES THE COMPENSATION TO LESLEY POOLE. THE SCHOOL DOES NOT COMPENSATE THE INDIVIDUAL. THE SCHOOL RELIES ON ITS RELATED ORGANIZATION'S METHODOLOGY OF DETERMINING COMPENSATION. THE FOLLOWING ARE THE COMPENSATION DETERMINATION POLICIES OF THE SEED FOUNDATION. THE SEED FOUNDATION BOARD OF DIRECTORS APPROVES THE COMPENSATION OF ITS OFFICERS, DIRECTORS AND KEY EMPLOYEES AS PART OF APPROVING THE ANNUAL BUDGET. MEMBERS OF THE BOARD OF DIRECTORS RECEIVE NO COMPENSATION. THE BOARD OF DIRECTOR SET THE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES BY CONSIDERING TWO FACTORS: 1) AN INFORMAL MARKET ANALYSIS OF COMPARABLE POSITIONS 2) WHAT THE ORGANIZATION CAN AFFORD TO PAY BASED ON ITS BUDGET CONSTRAINTS.