Skip to content
Nonprofiteer
← SEED COMMONS

Form 990 for tax year 2023

Filed by SEED COMMONS.

Totals

Total revenue
$9,581,365
Total expenses
$10,946,830
Contributions and grants received
$7,174,471
Grants paid
$3,867,704
Program service revenue
$1,190,474
Investment income
$1,204,790
Other revenue
$11,630
Total assets, end of year
$81,765,852
Total liabilities, end of year
$63,335,338
Net assets or fund balances, end of year
$18,430,514
Program services expenses (Part IX)
$10,123,020
Management and general expenses
$583,914
Fundraising expenses
$239,896
Program service expenses (Part III)
$10,123,020

Program services were 92.5% 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.

  • 1e · Government grants (contributions)

    $2,803,244

  • 1f · All other contributions, gifts and grants

    $4,371,227

  • 1g · Noncash contributions included above

    $47,144

  • 2a · Program service revenue: LOAN INTEREST

    total $1,275,336 · related or exempt $1,275,336

  • 2b · Program service revenue: PROGRAM SERVICES FEES

    total $37,852 · related or exempt $37,852

  • 2c · Program service revenue: LOSS FROM PROGRAM RELATED EQUITY

    total -$122,714 · related or exempt -$122,714

  • 3 · Investment income

    total $1,204,790 · excluded $1,204,790

  • 11a · Other revenue: OTHER INCOME

    total $11,630 · related or exempt $11,630

  • 11e · Other revenue, total

    $11,630

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,759,704 · program services $3,759,704

  • 3 · Grants to foreign organizations and individuals

    total $108,000 · program services $108,000

  • 5 · Compensation of officers, directors and key employees

    total $760,143 · program services $606,638 · management and general $136,083 · fundraising $17,422

  • 7 · Other salaries and wages

    total $2,141,857 · program services $1,857,082 · management and general $151,526 · fundraising $133,249

  • 8 · Pension plan contributions

    total $16,969 · program services $16,227 · management and general $321 · fundraising $421

  • 9 · Other employee benefits

    total $158,703 · program services $135,320 · management and general $15,619 · fundraising $7,764

  • 10 · Payroll taxes

    total $247,298 · program services $211,777 · management and general $23,168 · fundraising $12,353

  • 11b · Fees: legal

    total $14,522 · program services $9,204 · management and general $5,318

  • 11c · Fees: accounting

    total $72,340 · program services $5,262 · management and general $67,078

  • 11e · Fees: professional fundraising services

    total $16,594 · fundraising $16,594

  • 11g · Fees: other

    total $746,563 · program services $698,521 · management and general $576 · fundraising $47,466

  • 13 · Office expenses

    total $13,851 · program services $12,499 · management and general $1,243 · fundraising $109

  • 16 · Occupancy

    total $67,817 · program services $59,464 · management and general $6,505 · fundraising $1,848

  • 17 · Travel

    total $32,219 · program services $30,466 · fundraising $1,753

  • 19 · Conferences, conventions and meetings

    total $104,996 · program services $104,079 · fundraising $917

  • 20 · Interest

    total $521,857 · program services $521,857

  • 22 · Depreciation, depletion and amortization

    total $68,821 · program services $68,821

  • 23 · Insurance

    total $55,513 · management and general $55,513

  • 24a · Other expenses: WRITE-OFF OF LOANS RECE

    total $1,517,471 · program services $1,517,471

  • 24b · Other expenses: PROVISION FOR LOAN AND

    total $349,735 · program services $349,735

  • 24c · Other expenses: MISCELLANEOUS

    total $171,857 · program services $50,893 · management and general $120,964

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $32,183,131 · end of year $9,483,802

  • 2 · Savings and temporary cash investments

    beginning of year $23,296,488 · end of year $38,225,759

  • 3 · Pledges and grants receivable

    beginning of year $403,514 · end of year $1,243,597

  • 9 · Prepaid expenses and deferred charges

    beginning of year $43,693 · end of year $62,404

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

    $422,217

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

    $392,172

  • 10c · Land, buildings and equipment, net

    beginning of year $98,866 · end of year $30,045

  • 11 · Investments: publicly traded securities

    end of year $4,175,923

  • 13 · Investments: program-related

    beginning of year $19,766,623 · end of year $27,350,560

  • 15 · Other assets

    beginning of year $1,230,439 · end of year $1,193,762

  • 17 · Accounts payable and accrued expenses

    beginning of year $445,287 · end of year $1,108,997

  • 19 · Deferred revenue

    beginning of year $1,675,000 · end of year $1,800,000

  • 22 · Loans and payables to officers and key people

    beginning of year $5,000 · end of year $5,000

  • 24 · Unsecured notes and loans payable

    beginning of year $43,628,321 · end of year $49,417,188

  • 25 · Other liabilities

    beginning of year $11,559,303 · end of year $11,004,153

  • 27 · Net assets without donor restrictions

    beginning of year $10,448,494 · end of year $13,170,641

  • 28 · Net assets with donor restrictions

    beginning of year $9,261,349 · end of year $5,259,873

Mission and programs · 2023

Mission

SEED COMMONS IS AN APPLIED RESEARCH ORGANIZATION STUDYING, TESTING, ASSESSING AND IMPLEMENTING BEST PRACTICES FOR COMMUNITY ECONOMIC DEVELOPMENT THROUGH THE EXPANSION OF DEMOCRATIC ENTERPRISE AND COMMUNITY-CONTROLLED NON-EXTRACTIVE CAPITAL.

  • IN 2023, SEED COMMONS (THE ORGANIZATION) MADE 73 BELOW-MARKET RATE LOANS TO 50 DEMOCRATIC ENTERPRISES WHICH BENEFITED OVER 3,000 WORKER-OWNERS. OF THOSE 73 LOANS, 66 WERE MADE TO COOPERATIVE BUSINESSES IN THE U.S. AND 7 WERE MADE IN NICARAGUA. SEED COMMONS CONTINUES TO FOCUS ITS WORK IN COMMUNITIES WHOSE POPULATIONS ARE LOW-INCOME, MARGINALIZED, AND AT-RISK. THE LOAN SELECTION PROCESS INVOLVES A DOUBLE BOTTOM LINE, WHEREIN WE ASSESS THE BUSINESS PLAN TO MEASURE THE PROJECTED YIELD IN FINANCIAL BENEFIT TO THE COOPERATIVE AND ALSO MEASURE THE SOCIAL IMPACT, WHICH CAN INCLUDE SUCH QUANTIFIABLE PARAMETERS AS INCOME ENHANCEMENT (ESPECIALLY WHEN RISING ABOVE THE POVERTY LINE), INCREASED EMPLOYMENT, AND MORE ABSTRACT VARIABLES SUCH AS CAPACITY DEVELOPMENT AND INCREASED COMMUNITY STABILITY. OUR LOANS HAVE SUBSTANTIALLY INCREASED THE CAPITAL OF THE ENTERPRISE IN THREE CATEGORIES: FINANCIAL, HUMAN AND SOCIAL. THESE LOANS IMPROVED THE FINANCIAL SITUATIONS OF THESE SMALL BUSINESSES AND, IN MOST CASES, ALSO RESULTED IN A SUBSTANTIAL INCREASE IN PRODUCTION AND EMPLOYMENT.

    Expenses $10,123,020 · Grants $3,867,704 · Revenue $1,202,104

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

Listed in Part VII

  • Margo Dalal

    SECRETARY, EXECUTIVE DIRECTOR (DCWF)

    Total calculated
    $96,975
    From this org
    $87,292
    From related orgs
    $0
    Other
    $9,683
    Hours/week
    42

  • Andrew Delmonte

    DIRECTOR, EXEC DIR (COOP BUFFALO)

    Total calculated
    $70,451
    From this org
    $62,107
    From related orgs
    $0
    Other
    $8,344
    Hours/week
    42

  • Emily Lerman

    DIRECTOR, PROJECT OFFICER (BRED)

    Total calculated
    $38,708
    From this org
    $38,300
    From related orgs
    $0
    Other
    $408
    Hours/week
    22

  • Edward Leroy Whitfield

    PRESIDENT, SENIOR FELLOW

    Total calculated
    $44,017
    From this org
    $43,580
    From related orgs
    $0
    Other
    $437
    Hours/week
    12

  • Guadalupe Lupe Romero Elicea

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Kristen Barker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Andrea Golden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gilda Haas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Briana Sidney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ghislain Guiebo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brendan Martin

    CO-EXECUTIVE DIRECTOR

    Total calculated
    $145,185
    From this org
    $124,953
    From related orgs
    $0
    Other
    $20,232
    Hours/week
    40

  • Karen Haskins

    DIRECTOR OF FINANCE

    Total calculated
    $116,197
    From this org
    $107,372
    From related orgs
    $0
    Other
    $8,825
    Hours/week
    40

  • Kate Khatib

    CO-EXECUTIVE DIRECTOR

    Total calculated
    $133,921
    From this org
    $129,590
    From related orgs
    $0
    Other
    $4,331
    Hours/week
    40

  • Maria Elena Del Valle

    MANAGING DIRECTOR

    Total calculated
    $114,689
    From this org
    $106,124
    From related orgs
    $0
    Other
    $8,565
    Hours/week
    40

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.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • SEED COMMONS PRODUCTIVE SUSTAINABILITY FUND INC

    C · PROVIDES INVESTMENT CAPITAL · NY · 100% owned · controlled entity

    Directly controlled by SEED COMMONS

Provenance

Return type
form_990
Tax year
2023
Filed
12 September 2024
IRS schema version
2023v5.1
Source object
202442619349301124

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.