Seed Commons EIN 20-2264584

Seed Commons

EIN  20-2264584 Public charity (501(c)(3)) New York, NY Founded 2005
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/12/26 · see original filing: IRS
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Size
$10–100M
What they do
Develops community economies by expanding democratic businesses and non-extractive capital.
Leadership
Kate Khatib · Co-Executive Director · $132K
Money in and out
$10.1M revenue, $10.4M expenses
Bottom line
90% program efficiency

Develops community economies by expanding democratic businesses and non-extractive capital. For fiscal year 2024 it reported $10.1M in revenue, $10.4M in expenses, and $16.7M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$10.1M
Pt VIII · Ln 12
Total expenses
$10.4M
Pt IX · Ln 25
Net assets
$16.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$312K
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.07 Fundraising $0.03
Program efficiency
90%
of spending reaches programs▼ -3% vs prior filing year
Operating runway
43.2mo
months of highly liquid reserves at operating expense rate▼ -24% vs prior filing year
Surplus margin
-3%
revenue over expenses, this year▲ +78% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$10.1M
FY2024▲ +5%
Expenses
$10.4M
FY2024▼ -5%
Total assets
$85.7M
FY2024▲ +5%
Total liabilities
$69.0M
FY2024▲ +9%
Total revenue
$10.1M
Pt VIII · Ln 12
Total expenses
$10.4M
Pt IX · Ln 25
Net assets
$16.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$312K
Total assetsPt X · Ln 16$85.7M
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 44
Mission & Programs · Part III

Where the work happens

1 program service account for $9.4M of program spending, described in the organization's own filed words · FY2024.
01

In 2024, seed commons made 60 below-market rate loans to 46 democratic enterprises which benefited over 3,000 worker-owners. Of those 60 loans, 51 were made to cooperative businesses in the us and 9 were made in nicaragua.

$9.4Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSeed Commons
EINHdr · item D20-2264584
Principal addressHdr · item CNew York, NY
WebsiteHdr · item Jwww.theworkingworld.org
Year of formationHdr · item L2005
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S30)
Ruling yearIRS BMFOct 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b4
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Co-Executive Director
$132,071Pt VII · Sec A
Co-Executive Director
$131,386Pt VII · Sec A
Director of Finance
$114,005Pt VII · Sec A
Managing Director
$112,620Pt VII · Sec A
Director of Lending
$105,152Pt VII · Sec A
Director of Administration
$101,680Pt VII · Sec A
Secretary, Assoc Dir of Capital Strategies
$97,467Pt VII · Sec A
Director, Project Officer (bred)
$76,250Pt VII · Sec A

Kate Khatib’s $132K as Co-Executive Director is at the 10th percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Kate Khatib$132,071$129,590$102,940$80,611
Brendan Martin$131,386$124,953$99,476$90,070$90,550
Karen Haskins$114,005$107,372$98,310$89,787$89,758
Maria Elena Del Valle$112,620$106,124
Christyne Dillard$105,152
Eden Schulz$101,680
Margo Dalal$97,467$87,292$72,536
Ghislain Guiebo$63,793$83,890

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$6.4M · 63%
Program service revenue$1.8M · 18%
Investment income$1.8M · 18%
Other revenue$97K · 1%
Contributions & grants63%$6.4M
Program service revenue18%$1.8M
Investment income18%$1.8M
Other revenue1%$97K
— government grantsLn 1e$780K
Total revenueLn 12$10.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.07 Fundraising $0.03
Program services90%$9.4M
Management & general7%$773K
Fundraising3%$278K
Total functional expensesLn 25$10.4M

Balance Sheet

Part X · end of year
CashLn 1$34.4M
Total assetsLn 16$85.7M
Total liabilitiesLn 26$69.0M
Total net assetsLn 32$16.7M
Months of cash on handcomputed39.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $35.9M · Operating expenses (Pt IX) $10.4M · Less non-cash grants $438K · Cash operating expenses/yr $10.0M
43.2 months
Where the money goes
Program services
Program services $9.4M · Total expenses $10.4M
90%
Management & General
Management & general $773K · Total expenses $10.4M
7%
Fundraising
Fundraising $278K · Total expenses $10.4M
3%
Cost to raise $1
Fundraising expense (3-yr avg) $205K · Solicited contributions (3-yr avg) $5.4M
$0.04 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $6.4M · Total revenue $10.1M
63%
Government reliance
Government grants $780K · Total revenue $10.1M
8%
Earned-income share
Program service revenue $1.8M · Total revenue $10.1M
18%
Investment reliance
Investment income $1.8M · Total revenue $10.1M
+18%
Program self-sufficiency
Program service revenue $1.8M · Total expenses $10.4M
17%
Growth & trend
Revenue growth (YoY)
This year $10.1M · Prior year $9.6M
+5%
Revenue CAGR
FY2020 $4.4M · FY2024 $10.1M
+23%
Net-asset trend (YoY)
End of year $16.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $10.1M · Expenses $10.4M
-3%
Liabilities-to-Assets
Total liabilities — · Total assets $85.7M
Net-asset ratio
Net assets $16.7M · Total assets $85.7M
20%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.5M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $85.7M
2%
People & payroll
Highest Reported Total Compensation
Individual Kate Khatib · Reported title CO-EXECUTIVE DIRECTOR · Highest reported compensation $132K · Total expenses $10.4M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $4.1M · Total expenses $10.4M
39%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 90%
Overhead ratio 7%
Fundraising cost ratio 4%
Revenue growth 5%
Legal fee ratio 1%
Accounting fee ratio 1%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$35K
Grants paid · 81 grants · $5.7M · 2020–2024
Colaborativa La MilpaNC · FY2024$335,000
Tww Nyc Solidarity INCNY · FY2024$240,000
New York City Network of Worker CooperativesNY · FY2024$139,814
Repaired Nations Cooperative INCFY2024$80,000
Spokane Workers Cooperative LcaFY2024$75,000
Urban TilthCA · FY2024$33,750
Cleveland OwnsOH · FY2024$32,500
Sankofa Research InstituteTX · FY2024$20,000
Northwest Cooperative Development CenterFY2024$20,000
Catalyst Miami INCFL · FY2024$20,000
See all 81 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$10.1M revenue · viewing · ⤓ 990 PDF
FY2023$9.6M revenue · ⤓ 990 PDF
FY2022$8.0M revenue · ⤓ 990 PDF
FY2021$16.4M revenue · ⤓ 990 PDF
FY2020$4.4M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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