Schoolseed Foundation FY2021 filing

Tax-deductible

Memphis, TN501(c)(3)Foundations & GrantmakersEIN 26-4477567

Our mission is to impact the lives of children and their families through programs deeply rooted in the community we serve. SchoolSeed is dedicated to enhancing both learning and well-being of children and their families by delivering resources into the lives of children and families in the community.

501(c)(3) charity; gifts are tax-deductible.
49¢ of each $1 spent went to programs.
$159K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $166K a year · 4% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
49%
of spending
Concern: 49% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$159K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 8.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $583K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$2.1M
29% of total assets
Looks good: liabilities are 29% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.5M
-43% vs prior year
Spent
$2.3M
To programs
49%
Net assets
$5.1M
By yearFY2020–FY2024
Revenue
$4.5M
FY2021▼ -43%
Revenue by fiscal year
FY2020$7.8M
FY2021$4.5M
FY2022$2.8M
FY2024$3.3M
Expenses
$2.3M
FY2021▼ -69%
Expenses by fiscal year
FY2020$7.4M
FY2021$2.3M
FY2022$5.2M
FY2024$2.9M
Net assets
$5.1M
FY2021▲ +80%
Net assets by fiscal year
FY2020$2.8M
FY2021$5.1M
FY2022$9.4M
FY2024$3.9M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

49 cents of each dollar spent went to programs.

Program services 49% · $1.1M Management & general 26% · $597K Fundraising 25% · $574K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

8 people listed on the 990; $159K paid to officers and key staff.

Part VII, Section A · reportable compensation
$159,316Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President/ CEO
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Vincent McCaskill’s $208K as President/ CEO is at the 84th percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking 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 · 2 named individuals · Part VII

NameFY2024FY2022FY2021FY2020
Vincent McCaskill$207,668$159,316—$159,316
Vicint McCaskill——$159,316—

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.

See Schoolseed Foundation executive salaries →

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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

Programs and updates

Provides community-based programs to improve children's learning and family well-being.

Provided by the organization

This section is blank until Schoolseed Foundation claims this page.

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3 program services account for $1.1M of program spending, described in the organization's own filed words · FY2021.
01

We are razor focused on the delivery and improved outcomes by managing a variety of services and programs for the benefit of schools, educators, students, and parents. The Foundation's mission is to secure and manage private resources for the benefit of public education, coordinate community efforts to support public education, provide…

$711Kprogram expense
02

Sponsorships

support programs aimed at providing a specific initiative with funding. (5000+ persons benefited)

$252Kprogram expense
03

School Specific Initiatives

support programs aimed at specified schools for the schools most immediate needs. (3000+ persons benefited)

$161Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 7 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$4.5M
Ln 12
Gifts and grantsLn 1h$4.4M
Fees for servicesLn 2g$60K
Investment incomeLn 3$16K
Money outPt IX
$2.3M
Ln 25
Programscol B$1.1M
Managementcol C$597K
Fundraisingcol D$574K
Owns and owesPt X
$5.1M
net assets · Ln 32
Cash and savingsLn 1–2$1.6M
Total assetsLn 16$7.3M
LiabilitiesLn 26$2.1M
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.4M
Fees for servicesLn 2g$60K
Investment incomeLn 3$16K
Total revenueLn 12$4.5M
Assets in detailPt X, end of year
CashLn 1$1.6M
Cash and savings togetherLn 1–2$1.6M
InvestmentsLn 11–13$2.2M
Land, buildings, equipmentLn 10c$28K
Other assetsLn 15$2.0M
Total assetsLn 16$7.3M
LiabilitiesLn 26$2.1M
Net assetsLn 32$5.1M
OperationsPt I, VI
EmployeesI 52
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$862K$1.6M
InvestmentsLn 11–13$2.1M$2.2M
Land, buildings, equipmentLn 10c$25K$28K
Total assetsLn 16$5.1M$7.3M
LiabilitiesLn 26$2.3M$2.1M
Net assetsLn 32$2.8M$5.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$407K$200K$106K$102K
Pension plan contributionsLn 8$22K$11K$6K$5K
Other employee benefitsLn 9$70K$34K$18K$18K
Payroll taxesLn 10$29K$14K$8K$7K
Investment management feesLn 11f$43K$21K$11K$11K
Advertising and promotionLn 12$21K$10K$5K$5K
OccupancyLn 16$25K$12K$7K$6K
TravelLn 17$6K$3K$2K$2K
Depreciation, depletion and amortizationLn 22$13K$6K$3K$3K
InsuranceLn 23$13K$6K$3K$3K
Other expenses (24a–d)Ln 24$42K$21K$11K$10K
All other expensesLn 24e$1.6M$786K$417K$401K
Total functional expensesLn 25$2.3M$1.1M$597K$574K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.3M$2.9M$445K$3.9M 990 PDF
FY2023 Not on file
FY2022 $2.8M$5.2M−$2.3M$9.4M 990 PDF
FY2021 Viewing $4.5M$2.3M$2.2M$5.1M 990 PDF
FY2020 $7.8M$7.4M$398K$2.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $4,454,713 across 5 lines filed
VIII-1f All other contributions, gifts and grants$4,378,657
VIII-1h Total contributions, gifts and grants$4,378,657
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$59,561
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$16,495
VIII-12 Total revenueRelated to mission $76,056 · Unrelated business $0 · Excluded from tax $0$4,454,713
Part IX · Statement of functional expenses $2,295,013 across 12 lines filed
IX-6 Pay of disqualified personsPrograms $199,542 · Management $105,878 · Fundraising $101,806$407,226
IX-8 Pension plan contributionsPrograms $10,669 · Management $5,662 · Fundraising $5,444$21,775
IX-9 Other employee benefitsPrograms $34,442 · Management $18,276 · Fundraising $17,573$70,291
IX-10 Payroll taxesPrograms $14,414 · Management $7,648 · Fundraising $7,354$29,416
IX-11f Investment management feesPrograms $21,054 · Management $11,171 · Fundraising $10,742$42,967
IX-12 Advertising and promotionPrograms $10,225 · Management $5,425 · Fundraising $5,217$20,867
IX-16 OccupancyPrograms $12,331 · Management $6,543 · Fundraising $6,291$25,165
IX-17 TravelPrograms $2,940 · Management $1,560 · Fundraising $1,500$6,000
IX-22 Depreciation, depletion and amortizationPrograms $6,361 · Management $3,375 · Fundraising $3,245$12,981
IX-23 InsurancePrograms $6,166 · Management $3,272 · Fundraising $3,146$12,584
IX-24 Other expenses (24a–d)Programs $20,527 · Management $10,892 · Fundraising $10,473$41,892
IX-24e All other expensesPrograms $785,887 · Management $417,000 · Fundraising $400,962$1,603,849
IX-25 Total functional expensesPrograms $1,124,558 · Management $596,702 · Fundraising $573,753$2,295,013
Part X · Balance sheet $7,252,651 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $862,237$1,571,682
X-3 Pledges and grants receivableStart of year $369,707$1,450,479
X-10c Land, buildings and equipment, netStart of year $24,912$28,402
X-11 Publicly traded securitiesStart of year $2,063,024$2,220,193
X-15 Other assetsStart of year $1,787,639$1,981,895
X-16 Total assetsStart of year $5,107,519$7,252,651
X-17 Accounts payable and accrued expensesStart of year $471,906$101,824
X-25 Other liabilities$29,490
X-26 Total liabilitiesStart of year $2,259,545$2,113,209
X-27 Net assets without donor restrictionsStart of year $2,847,974$3,157,547
X-28 Net assets with donor restrictions$1,981,895
X-32 Total net assets or fund balancesStart of year $2,847,974$5,139,442
X-33 Total liabilities and net assetsStart of year $5,107,519$7,252,651
Part XI · Reconciliation of net assets $5,139,442 net assets at year end
XI-1 Total revenue$4,454,713
XI-2 Total expenses$2,295,013
XI-3 Revenue less expenses$2,159,700
XI-4 Net assets at start of year$2,847,974
XI-5 Net unrealized gains (losses) on investments$131,768
XI-10 Net assets at end of year$5,139,442

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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