Sead Project EIN 47-4088420 Form 990 (PDF) Claim this org

Sead Project FY2023 filing

Not yet claimed Claim this org →

Offers creative workshops and tools for Southeast Asian diaspora communities to share knowledge. For fiscal year 2023 it reported $453K in revenue, $473K in expenses, and $345K in net assets.Pt I

Founded
2015
Type
Public charity (501(c)(3)) · Public & Societal Benefit
Location
Minneapolis, MN
Website
theseadproject.org
Filings
4 on file (2021–2023)
Revenue
$453KFY2023
Expenses
$473K
Net assets
$345K
People
7
Filings
4
Updates
0
More identity details & actions ⌄
EIN  47-4088420 Public charity (501(c)(3)) Minneapolis, MN Founded 2015
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
Compare with another nonprofit →
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Sead Project claims this page.

Know this organization? Claim it to add your story

Size
$100K–1M
What they do
Offers creative workshops and tools for Southeast Asian diaspora communities to share knowledge.
Leadership
Kaysone Syonesa Schneider · Co-Director · $75K
Money in and out
$453K revenue, $473K expenses
Bottom line
64% program efficiency
Where the money goes · FY2023
Total revenue
$453K
Pt VIII · Ln 12
Total expenses
$473K
Pt IX · Ln 25
Net assets
$345K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$20K
Where spending went · Part IX cols B–D
Program services $0.64 Management & general $0.22 Fundraising $0.14
Program efficiency
64%
of spending reaches programs
Operating runway
8.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
-4%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$453K
FY2023▼ -32%
Expenses
$473K
FY2023▼ -14%
Total assets
$351K
FY2023▼ -6%
Total liabilities
$6K
FY2023▼ -39%
Total revenue
$453K
Pt VIII · Ln 12
Total expenses
$473K
Pt IX · Ln 25
Net assets
$345K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$20K
Total assetsPt X · Ln 16$351K
Program-expense ratioPt IX · col B64%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45

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 1a5
Independent voting membersPt VI · Ln 1b5
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 (FY2022); the FY2023 filing did not itemize Part VII
$75,000Pt VII · Sec A
$69,342Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board 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.

See Sead Project executive salaries →

Are you one of these people? Claim this org to confirm your role

Mission & Programs · Part III

Where the work happens

3 program services account for $127K of program spending, described in the organization's own filed words · FY2022.
01

Sea roots amplifies our southeast asian languages and cultures. The program continues the importance of carrying the stories and grounding ourselves in our histories and identity. Sead is one of the few organizations around that offer affordable and accessible hmong, khmer, lao and vietnamese language classes to anyone, anywhere…

$57Kprogram expense
02

Sea change is our youth leadership development program that aims to grow creative leaders at the intersection of arts and advocacy. In february and march of 2023, we hosted an entirely remote sea change lab cohort. We had a cohort of 10 individuals from all over the country.

$41Kprogram expense
03

Planting seads storytelling gathers and amplifies stories and space for southeast asian narratives to thrive, mobilize and heal through conversations, publications, and tools. We launched the initial preparation work for our elder storytelling project, "knowing our joy." we worked with several community partners to recruit storytelling…

$29Kprogram expense

Run this program? Claim this org to tell your story

Statement of Revenue

Part VIII
Contributions & grants$401K · 88%
Program service revenue$61K · 13%
Contributions & grants88%$401K
Program service revenue13%$61K
Total revenueLn 12$453K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.64 Management & general $0.22 Fundraising $0.14
Program services64%$304K
Management & general22%$104K
Fundraising14%$66K
Total functional expensesLn 25$473K

Balance Sheet

Part X · end of year
CashLn 1$347K
Total assetsLn 16$351K
Total liabilitiesLn 26$6K
Total net assetsLn 32$345K
Months of cash on handcomputed8.8

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $347K · Operating expenses/yr $473K
8.8 months
Where the money goes
Program services
Program services $304K · Total expenses $473K
64%
Management & General
Management & general $104K · Total expenses $473K
22%
Fundraising
Fundraising $66K · Total expenses $473K
14%
Cost to raise $1
Fundraising expense (3-yr avg) $68K · Solicited contributions (3-yr avg) $499K
$0.14 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $401K · Total revenue $453K
88%
Government reliance
Government grants — · Total revenue $453K
Earned-income share
Program service revenue $61K · Total revenue $453K
13%
Investment reliance
Investment income $0 · Total revenue $453K
0%
Program self-sufficiency
Program service revenue $61K · Total expenses $473K
13%
Growth & trend
Revenue growth (YoY)
This year $453K · Prior year $668K
-32%
Net-asset trend (YoY)
End of year $345K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $453K · Expenses $473K
-4%
Liabilities-to-Assets
Total liabilities — · Total assets $351K
Net-asset ratio
Net assets $345K · Total assets $351K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $351K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Kaysone Syonesa Schneider · Reported title CO-DIRECTOR · Highest reported compensation $75K · Total expenses $473K
16%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $305K · Total expenses $473K
64%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 64%
Overhead ratio 22%
Fundraising cost ratio 16%
Revenue growth -32%
Accounting fee ratio 0.6%
Fundraising fee ratio 4%

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

Similar Organizations

Closest in mission — by what they do
See all organizations like Sead Project →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

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

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.