Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $188,308

• 1e · Government grants (contributions)

  $3,728,847

• 1f · All other contributions, gifts and grants

  $580,340

• 2a · Program service revenue: PER PUPIL ALLOCATION

  total $17,617,907 · related or exempt $17,617,907

• 3 · Investment income

  total $14,703 · excluded $14,703

• 6a · Gross rents

  real property $800

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $800

• 6d · Net rental income or loss

  total $800 · excluded $800

• 8a · Fundraising events: gross income

  $0

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

  $188,308

• 8b · Fundraising events: direct expenses

  $96,003

• 8c · Net income from fundraising events

  total -$96,003 · excluded -$96,003

• 11a · Other revenue: OTHER REVENUE

  total $12,580 · excluded $12,580

• 11e · Other revenue, total

  $12,580

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $34,750 · program services $34,750

• 5 · Compensation of officers, directors and key employees

  total $256,767 · management and general $256,767

• 7 · Other salaries and wages

  total $9,600,435 · program services $8,985,930 · management and general $376,163 · fundraising $238,342

• 8 · Pension plan contributions

  total $64,342 · program services $57,458 · management and general $5,283 · fundraising $1,601

• 9 · Other employee benefits

  total $1,593,039 · program services $1,327,429 · management and general $222,500 · fundraising $43,110

• 10 · Payroll taxes

  total $579,074 · program services $517,121 · management and general $47,545 · fundraising $14,408

• 11a · Fees: management

  total $991,250 · management and general $991,250

• 11b · Fees: legal

  total $5,873 · management and general $5,873

• 11c · Fees: accounting

  total $177,799 · management and general $177,799

• 13 · Office expenses

  total $221,833 · program services $116,889 · management and general $99,937 · fundraising $5,007

• 14 · Information technology

  total $234,351 · program services $1,280 · management and general $233,071

• 16 · Occupancy

  total $2,163,999 · program services $2,007,516 · management and general $117,362 · fundraising $39,121

• 17 · Travel

  total $15,216 · program services $15,216

• 19 · Conferences, conventions and meetings

  total $675 · program services $675

• 20 · Interest

  total $453,861 · program services $417,552 · management and general $27,232 · fundraising $9,077

• 22 · Depreciation, depletion and amortization

  total $1,582,187 · program services $1,461,344 · management and general $90,632 · fundraising $30,211

• 23 · Insurance

  total $291,456 · program services $21,966 · management and general $269,013 · fundraising $477

• 24a · Other expenses: STUDENT FOOD COSTS

  total $1,042,540 · program services $1,042,540

• 24b · Other expenses: STUDENT TRANSPORTATION

  total $717,696 · program services $717,696

• 24c · Other expenses: STUDENT ACTIVITIES

  total $693,878 · program services $693,878

• 24d · Other expenses: OTHER STUDENT COSTS

  total $488,028 · program services $488,028

• 24e · All other expenses

  total $645,043 · program services $365,986 · management and general $279,057

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $4,307,383 · end of year $5,995,855

• 3 · Pledges and grants receivable

  beginning of year $5,111,060 · end of year $2,914,639

• 4 · Accounts receivable

  beginning of year $20,833 · end of year $33,765

• 9 · Prepaid expenses and deferred charges

  beginning of year $86,197 · end of year $102,219

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

  $53,753,184

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

  $18,719,006

• 10c · Land, buildings and equipment, net

  beginning of year $35,840,994 · end of year $35,034,178

• 17 · Accounts payable and accrued expenses

  beginning of year $1,544,331 · end of year $1,025,894

• 20 · Tax-exempt bond liabilities

  beginning of year $17,720,256 · end of year $16,763,903

• 25 · Other liabilities

  beginning of year $67,855 · end of year $63,444

• 27 · Net assets without donor restrictions

  beginning of year $25,833,272 · end of year $26,101,662

• 28 · Net assets with donor restrictions

  beginning of year $200,753 · end of year $125,753

The filer's explanations (Part III)

PART I, LINE 1A

KIRK SYKES, HEAD OF SCHOOL RECEIVED NON-TAXABLE HOUSING BENEFITS IN THE AMOUNT OF $12,000.

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 IT BUDGET CONSTRAINTS.