Sead Project EIN 47-4088420

Sead Project FY2021 filing

EIN  47-4088420 Public charity (501(c)(3)) Minneapolis, MN Founded 2015
Form 990 (PDF)
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Size
$100K–1M
What they do
Offers creative workshops and tools for Southeast Asian diaspora communities to share knowledge.
Leadership
Chanida Potter · Founding Director · $59K
Money in and out
$702K revenue, $545K expenses
Bottom line
74% program efficiency

Offers creative workshops and tools for Southeast Asian diaspora communities to share knowledge. For fiscal year 2021 it reported $702K in revenue, $545K in expenses, and $249K in net assets.Pt I

Where the money goes · FY2021
Total revenue
$702K
Pt VIII · Ln 12
Total expenses
$545K
Pt IX · Ln 25
Net assets
$249K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $157K
Where spending went · Part IX cols B–D
Program services $0.74 Management & general $0.12 Fundraising $0.14
Program efficiency
74%
of spending reaches programs
Operating runway
5.7mo
months of highly liquid reserves at operating expense rate
Surplus margin
+22%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$702K
FY2021
Expenses
$545K
FY2021
Total assets
$260K
FY2021
Total liabilities
$10K
FY2021
Total revenue
$702K
Pt VIII · Ln 12
Total expenses
$545K
Pt IX · Ln 25
Net assets
$249K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$157K
Total assetsPt X · Ln 16$260K
Program-expense ratioPt IX · col B74%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

3 program services account for $219K of program spending, described in the organization's own filed words · FY2020.
01

Sea change lab is a cohort-based program aimed at growing social empowerment and leadership development through creative storytelling in young people with heritage roots in southeast asia (burmese, cambodian, hmong, karenni, lao, vietnamese, etc); specifically youth and young adults ages 18-25.

$105Kprogram expense
02

Planting Seads

Narrative storytelling program gathers and amplifies stories and space for southeast asian narratives to thrive, mobilize and heal through conversations, digital and print publications, and storytelling tools and has multiple projects under its program.

$59Kprogram expense
03

Sea Roots

Southeast asian heritages & languages program teaches language and cultural literacy workshops in hmong, khmer, lao and vietnamese. Includes workshops in southeast asian languages: 8-WEEKS language literacy intensives for those who want to learn an introduction and foundations in reading, writing, speaking.

$55Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSead Project
EINHdr · item D47-4088420
Principal addressHdr · item CMinneapolis, MN
WebsiteHdr · item Jtheseadproject.org
Year of formationHdr · item L2015
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFPublic & Societal Benefit (W99)
Ruling yearIRS BMFJun 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
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 · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Founding Director
$58,750Pt VII · Sec A
$0Pt VII · Sec A
General Member
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Co-Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
General Member
$0Pt VII · Sec A
General Member
$0Pt VII · Sec A

Kaysone Syonesa Schneider’s $76K as Co-Director is at the 61st percentile of top reported officer pay among 1033 $100K–1M public & societal benefit 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 · 6 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Chanida Potter$80,527$58,750
Kaysone Syonesa Schneider$75,519$75,000$75,000
Jessica Eckerstorfer$67,129$66,674$69,342
Jessica Eckerstorfer$20,849
Juanita Vang$14,467
Kaysone Syonesa$6,826

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$581K · 83%
Program service revenue$122K · 17%
Contributions & grants83%$581K
Program service revenue17%$122K
— government grantsLn 1e$21K
Total revenueLn 12$702K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.74 Management & general $0.12 Fundraising $0.14
Program services74%$404K
Management & general12%$64K
Fundraising14%$77K
Total functional expensesLn 25$545K

Balance Sheet

Part X · end of year
CashLn 1$259K
Total assetsLn 16$260K
Total liabilitiesLn 26$10K
Total net assetsLn 32$249K
Months of cash on handcomputed5.7

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $259K · Operating expenses/yr $545K
5.7 months
Where the money goes
Program services
Program services $404K · Total expenses $545K
74%
Management & General
Management & general $64K · Total expenses $545K
12%
Fundraising
Fundraising $77K · Total expenses $545K
14%
Cost to raise $1
Fundraising expense $77K · Solicited contributions $559K
$0.14 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $581K · Total revenue $702K
83%
Government reliance
Government grants $21K · Total revenue $702K
3%
Earned-income share
Program service revenue $122K · Total revenue $702K
17%
Investment reliance
Investment income $0 · Total revenue $702K
0%
Program self-sufficiency
Program service revenue $122K · Total expenses $545K
22%
Growth & trend
Revenue growth (YoY)
This year $702K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $249K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $702K · Expenses $545K
+22%
Liabilities-to-Assets
Total liabilities — · Total assets $260K
Net-asset ratio
Net assets $249K · Total assets $260K
96%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $260K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Chanida Potter · Reported title Founding Director · Highest reported compensation $59K · Total expenses $545K
11%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $224K · Total expenses $545K
41%
Fundraising vendors
Fundraiser cost ratio
Paid to fundraisers $36K · Gross raised $559K
6%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 74%
Overhead ratio 12%
Fundraising cost ratio 13%
Accounting fee ratio 0%
Fundraising fee ratio 7%

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 · FY2024
See all 6 funders →
Grants paid · 2 grants · $50K · 2020–2020
Unitemized GrantFY2020$48,399
Unitemized GrantFY2020$1,500

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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$526K revenue · ⤓ 990 PDF
FY2023$453K revenue · ⤓ 990 PDF
FY2022$668K revenue · ⤓ 990 PDF
FY2021$702K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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