Is it real?
Yes. Exemption reinstated (2012-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Oct 2014.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
85 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
8 people listed on the 990; $185K paid to officers and key staff.
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
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| 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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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
- Loans to or from officersSch L · Pt II1 listed
Programs and updates
Develops community economies by expanding democratic businesses and non-extractive capital.
Questions for Seed Commons
Your first name shows with your question. Seed Commons answers here, for everyone.
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In 2020, seed commons made 29 below-market rate loans to 19 democratic enterprises which benefited over 3,000 worker-owners. Of those 29 loans, 22 were made to cooperative businesses in the us and 7 were made in nicaragua.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $2.1M | $10.2M |
| InvestmentsLn 11–13 | $8.1M | $10.3M |
| Land, buildings, equipmentLn 10c | $144K | $196K |
| Total assetsLn 16 | $11.9M | $22.4M |
| LiabilitiesLn 26 | $7.6M | $16.8M |
| Net assetsLn 32 | $4.4M | $5.6M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $564K | $564K | ||
| Grants and assistance to foreign recipientsLn 3 | $105K | $105K | ||
| Pay of current officers, directors and key staffLn 5 | $196K | $120K | $57K | $19K |
| Other salaries and wagesLn 7 | $1.1M | $911K | $151K | $20K |
| Other employee benefitsLn 9 | $160K | $126K | $33K | $2K |
| Payroll taxesLn 10 | $86K | $68K | $14K | $4K |
| Legal feesLn 11b | $94K | $56K | $38K | |
| Accounting feesLn 11c | $33K | $33K | ||
| Other fees for servicesLn 11g | $370K | $341K | $29K | |
| Office expensesLn 13 | $12K | $8K | $4K | |
| OccupancyLn 16 | $68K | $58K | $8K | $3K |
| TravelLn 17 | $4K | $4K | ||
| Conferences, conventions and meetingsLn 19 | $32K | $32K | ||
| InterestLn 20 | $10K | $10K | ||
| Depreciation, depletion and amortizationLn 22 | $6K | $6K | ||
| InsuranceLn 23 | $23K | $164 | $23K | |
| Other expenses (24a–d)Ln 24 | $248K | $236K | $11K | $814 |
| Total functional expensesLn 25 | $3.1M | $2.6M | $407K | $47K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $10.1M | $10.4M | −$312K | $16.7M | 990 PDF |
| FY2023 | $9.6M | $10.9M | −$1.4M | $18.4M | 990 PDF |
| FY2022 | $8.0M | $6.5M | $1.5M | $19.7M | 990 PDF |
| FY2021 | $16.4M | $3.8M | $12.6M | $18.2M | 990 PDF |
| FY2020 Viewing | $4.4M | $3.1M | $1.3M | $5.6M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $4,362,169 revenue, 12 lines filed
Part VI · Governance 5 of 7 board members independent, no flags
Part VIII · Statement of revenue $4,362,169 across 8 lines filed
Part IX · Statement of functional expenses $3,093,634 across 17 lines filed
Part X · Balance sheet $22,442,034 assets, 16 lines filed
Part XI · Reconciliation of net assets $5,622,412 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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