Seedleaf INC EIN 45-0582109

Seedleaf INC

EIN  45-0582109 Public charity (501(c)(3)) Lexington, KY
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Size
$100K–1M
What they do
Teaches and inspires people of all ages to grow food, improving access to healthy meals.
Leadership
Christine Smith · Executive Director · $65K
Money in and out
$392K revenue, $392K expenses
Bottom line
78% program efficiency

Teaches and inspires people of all ages to grow food, improving access to healthy meals. For fiscal year 2024 it reported $392K in revenue, $392K in expenses, and $180K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$392K
Pt VIII · Ln 12
Total expenses
$392K
Pt IX · Ln 25
Net assets
$180K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $226
Where spending went · Part IX cols B–D
Program services $0.78 Management & general $0.22 Fundraising $0.01
Program efficiency
78%
of spending reaches programs▲ +8% vs prior filing year
Operating runway
3.1mo
months of highly liquid reserves at operating expense rate▲ +15% vs prior filing year
Surplus margin
0%
revenue over expenses, this year▼ -70% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$392K
FY2024▲ +11%
Expenses
$392K
FY2024▲ +11%
Total assets
$180K
FY20240%
Total liabilities
$0
FY2024
Total revenue
$392K
Pt VIII · Ln 12
Total expenses
$392K
Pt IX · Ln 25
Net assets
$180K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$226
Total assetsPt X · Ln 16$180K
Program-expense ratioPt IX · col B78%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

3 program services account for $305K of program spending, described in the organization's own filed words · FY2024.
01

Gardens

Seedleaf maintained 13 community gardens in 2022, including a 2 acre urban farm situated in the communities of Northeast Lexington.

$229Kprogram expense
02

Market Gardener Program

The Market Gardener Program is a year-long process of guiding participants through basic horticultural practices, food safety, and general business planning. Participants are paid a small stipend to support their participation in the program. They are given sections of land at the urban farm for their operations.

$70Kprogram expense
03

SEEDS is a youth program that targets 5th-8th grade students living in areas of Lexington identified as food deserts. In an attempt to connect these youth with healthy, fresh food, participants will be involved in all aspects of growing food in an urban setting. They will also learn about entrepreneurship as they sell their produce.

$6Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSeedleaf INC
EINHdr · item D45-0582109
Principal addressHdr · item CLexington, KY
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MKY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S20)
Ruling yearIRS BMFJan 2009

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$65,000Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Christine Smith’s $65K as Executive Director is at the 42nd percentile of top reported officer pay among 1710 $100K–1M 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 · 1 named individual · Part VII

NameFY2024FY2022FY2021FY2020
Christine Smith$65,000$48,840$44,400$44,400

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$380K · 97%
Program service revenue$8K · 2%
Other revenue$4K · 1%
Contributions & grants97%$380K
Program service revenue2%$8K
Other revenue1%$4K
Total revenueLn 12$392K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.78 Management & general $0.22 Fundraising $0.01
Program services78%$305K
Management & general22%$85K
Fundraising1%$2K
Total functional expensesLn 25$392K

Balance Sheet

Part X · end of year
CashLn 1$102K
Total assetsLn 16$180K
Total liabilitiesLn 26$0
Total net assetsLn 32$180K
Months of cash on handcomputed3.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $102K · Operating expenses/yr $392K
3.1 months
Where the money goes
Program services
Program services $305K · Total expenses $392K
78%
Management & General
Management & general $85K · Total expenses $392K
22%
Fundraising
Fundraising $2K · Total expenses $392K
1%
Cost to raise $1
Fundraising expense (3-yr avg) $1K · Solicited contributions (3-yr avg) $348K
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $380K · Total revenue $392K
97%
Government reliance
Government grants — · Total revenue $392K
Earned-income share
Program service revenue $8K · Total revenue $392K
2%
Investment reliance
Investment income $0 · Total revenue $392K
0%
Program self-sufficiency
Program service revenue $8K · Total expenses $392K
2%
Growth & trend
Revenue growth (YoY)
This year $392K · Prior year $352K
+11%
Revenue CAGR
FY2020 $215K · FY2024 $392K
+16%
Net-asset trend (YoY)
End of year $180K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $392K · Expenses $392K
0%
Liabilities-to-Assets
Total liabilities — · Total assets $180K
Net-asset ratio
Net assets $180K · Total assets $180K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $180K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Christine Smith · Reported title Executive Director · Highest reported compensation $65K · Total expenses $392K
17%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $257K · Total expenses $392K
66%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 78%
Overhead ratio 22%
Fundraising cost ratio 1%
Revenue growth 11%
Accounting fee ratio 1%

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 · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$10K

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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)$392K revenue · viewing · ⤓ 990 PDF
FY2023$352K revenue · ⤓ 990 PDF
FY2022$322K revenue · ⤓ 990 PDF
FY2021$200K revenue · ⤓ 990 PDF
FY2020$215K 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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