The Seed Foundation FY2021 filing

Tax-deductible

Washington, DC501(c)(3)Since 1997EducationEIN 54-1850819Revenue $5.0M in FY2021

On file with the IRSseedfoundation.com1730 Rhode Island Ave Nw Ste 1102, 20036-3111 · Washington, DCTax-exempt since Nov 1997Publicly supported charity — 170(b)(1)(A)(vi)

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The Seed Foundation is a national nonprofit that partners with communities to provide innovative educational opportunities that prepare underserved students for success in college and beyond.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
$976K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $179K a year · 3% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$976K
to officers and key staff · 24% of spending
Worth a look: pay to officers and key staff is 24% of spending; over 20%.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.4M
33% of total assets
Looks good: liabilities are 33% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 22 voting members
Looks good: 21 of 22 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.0M
-6% vs prior year
Spent
$4.1M
To programs
86%
Net assets
$7.0M
By yearFY2020–FY2025
Revenue
$5.0M
FY2021▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.3M
FY2021$5.0M
FY2022$5.9M
FY2023$7.8M
FY2024$5.4M
FY2025$5.0M
Expenses
$4.1M
FY2021▼ -12%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.7M
FY2021$4.1M
FY2022$4.9M
FY2023$5.5M
FY2024$5.7M
FY2025$8.4M
Net assets
$7.0M
FY2021▲ +14%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.2M
FY2021$7.0M
FY2022$8.0M
FY2023$10.3M
FY2024$10.0M
FY2025$6.6M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1997.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $3.5M Management & general 7% · $278K Fundraising 7% · $308K

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

27 people listed on the 990; $976K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Chief Executive Officer
$279,951Pt VII · Sec A
Chief Schools Officer
$179,563Pt VII · Sec A
Chief Growth Officer
$169,552Pt VII · Sec A
Dir, School Improvement
$119,621Pt VII · Sec A
Dir, Strategic Initiatives
$116,279Pt VII · Sec A
Chief Development Officer
$110,576Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Lesley Poole’s $328K as CEO and President is at the 97th percentile of top reported officer pay among 3395 $1–10M education 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Lesley Poole$328,338$321,121$294,635$283,716$279,951$252,310
Vincena Allen$234,174$234,716$194,250$184,733$169,552$161,180
Keniq Coney$221,768$217,810$199,697$191,780$179,563$174,387
Hopi Moodie$155,441$149,714$133,073$130,445$116,279$110,213
Alisha Huntley$146,734$143,833$136,411$128,127$110,576—
Chloe Marshall$137,873$134,783$128,005$123,472——
Brian Rahaman—————$133,185
Jubria Lewis———$121,421$119,621$118,746

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 The Seed 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

Prepares underserved students for college success through innovative educational partnerships.

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Provided by the organization

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3 programs · $3.5M · in their own filed words · FY2020
01

Improve seed school educational program model.

$1.3Mprogram expense
02

Support seed school graduates in their transition to college.

$1.2Mprogram expense
03

The seed foundation continues to manage the growth of the seed school of miami. In addition, the seed foundation continues to explore other opportunities.

$1.1Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$15K
Grants paid · 26 grants · $2.4M · 2019–2024
Unitemized GrantFY2024$129,980
Unitemized GrantFY2024$69,928
Unitemized GrantFY2024$11,953
Miami Boarding School INCFL · FY2023$150,000
Unitemized GrantFY2023$115,273
Unitemized GrantFY2023$76,851
Unitemized GrantFY2023$2,500
Miami Boarding School INCFL · FY2022$450,674
Unitemized GrantFY2022$94,699
Unitemized GrantFY2022$20,000
Unitemized GrantFY2022$15,000
Miami Boarding School INCFL · FY2021$365,000
Unitemized GrantFY2021$101,160
Unitemized GrantFY2021$28,000
Unitemized GrantFY2021$20,000
Unitemized GrantFY2021$7,000
Miami Boarding School INCFL · FY2020$150,000
Unitemized GrantFY2020$50,670
See all 26 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$5.0M
Ln 12
Gifts and grantsLn 1h$3.1M
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$153K
Money outPt IX
$4.1M
Ln 25
Programscol B$3.5M
Managementcol C$278K
Fundraisingcol D$308K
Owns and owesPt X
$7.0M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$10.4M
LiabilitiesLn 26$3.4M
PeoplePt VI, VII
27
listed · VII A
PaidVII A6
Voting boardVI 1a22
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.1M
Government grantsLn 1e$438K
Noncash giftsLn 1g$25K
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$153K
Other incomeLn 4–11$409
Total revenueLn 12$5.0M
Assets in detailPt X, end of year
SavingsLn 2$2.0M
Cash and savings togetherLn 1–2$2.0M
Land, buildings, equipmentLn 10c$4.7M
Other assetsLn 15$3.1M
Total assetsLn 16$10.4M
LiabilitiesLn 26$3.4M
Net assetsLn 32$7.0M
OperationsPt I, VI
EmployeesI 537
VolunteersI 620
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$1.2M$2.0M
Land, buildings, equipmentLn 10c$4.7M$4.7M
Total assetsLn 16$10.2M$10.4M
LiabilitiesLn 26$4.0M$3.4M
Net assetsLn 32$6.2M$7.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$150K$150K
Grants to domestic individualsLn 2$91K$91K
Pay of current officers, directors and key staffLn 5$698K$599K$50K$49K
Other salaries and wagesLn 7$1.5M$1.3M$106K$105K
Pension plan contributionsLn 8$99K$86K$7K$6K
Other employee benefitsLn 9$207K$179K$15K$13K
Payroll taxesLn 10$161K$139K$11K$10K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$57K$43K$14K
Lobbying feesLn 11d$64K$64K
Other fees for servicesLn 11g$392K$368K$18K$6K
Advertising and promotionLn 12$27K$25K$592$1K
Office expensesLn 13$35K$26K$3K$5K
Information technologyLn 14$56K$43K$5K$9K
OccupancyLn 16$216K$151K$32K$32K
TravelLn 17$23K$21K$632$711
Conferences, conventions and meetingsLn 19$13K$6K$2K$4K
InterestLn 20$153K$153K
Depreciation, depletion and amortizationLn 22$14K$10K$3K
InsuranceLn 23$56K$56K
Other expenses (24a–d)Ln 24$47K$43K$4K$1K
All other expensesLn 24e$73K$66K$6K$1K
Total functional expensesLn 25$4.1M$3.5M$278K$308K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.0M$8.4M−$3.5M$6.6M 990 PDF
FY2024 $5.4M$5.7M−$288K$10.0M 990 PDF
FY2023 $7.8M$5.5M$2.3M$10.3M 990 PDF
FY2022 $5.9M$4.9M$1.0M$8.0M 990 PDF
FY2021 Viewing $5.0M$4.1M$876K$7.0M 990 PDF
FY2020 $5.3M$4.7M$638K$6.2M 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 (6 parts)
Part I · Summary $4,996,042 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,739,866$3,057,008
I-9 Program service revenuePrior year $1,388,664$1,785,895
I-10 Investment incomePrior year $144,440$152,730
I-11 Other revenuePrior year $35,911$409
I-12 Total revenuePrior year $5,308,881$4,996,042
I-13 Grants and similar amounts paidPrior year $485,542$240,670
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,401,708$2,648,083
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,783,231$1,231,698
I-18 Total expensesPrior year $4,670,481$4,120,451
I-19 Revenue less expensesPrior year $638,400$875,591
Part VI · Governance 21 of 22 board members independent, no flags
VI-1a Voting members of the governing body22
VI-1b Independent voting members21
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,996,042 across 8 lines filed
VIII-1e Government grants$437,500
VIII-1f All other contributions, gifts and grants$2,619,508
VIII-1g Noncash contributions (included above)$25,088
VIII-1h Total contributions, gifts and grants$3,057,008
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,785,895$1,785,895
VIII-3 Investment incomeExcluded from tax $152,730$152,730
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $409$409
VIII-12 Total revenueRelated to mission $1,785,895 · Unrelated business $0 · Excluded from tax $153,139$4,996,042
Part IX · Statement of functional expenses $4,120,451 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $150,000$150,000
IX-2 Grants to domestic individualsPrograms $90,670$90,670
IX-5 Pay of current officers, directors and key staffPrograms $599,184 · Management $49,912 · Fundraising $49,388$698,484
IX-7 Other salaries and wagesPrograms $1,272,093 · Management $105,965 · Fundraising $104,852$1,482,910
IX-8 Pension plan contributionsPrograms $85,528 · Management $7,001 · Fundraising $6,160$98,689
IX-9 Other employee benefitsPrograms $179,448 · Management $14,688 · Fundraising $12,924$207,060
IX-10 Payroll taxesPrograms $139,478 · Management $11,417 · Fundraising $10,045$160,940
IX-11b Legal feesPrograms $7,627$7,627
IX-11c Accounting feesPrograms $42,635 · Management $14,212$56,847
IX-11d Lobbying feesFundraising $63,806$63,806
IX-11g Other fees for servicesPrograms $367,659 · Management $17,872 · Fundraising $6,086$391,617
IX-12 Advertising and promotionPrograms $24,981 · Management $592 · Fundraising $1,158$26,731
IX-13 Office expensesPrograms $26,459 · Management $3,212 · Fundraising $5,285$34,956
IX-14 Information technologyPrograms $42,580 · Management $4,588 · Fundraising $8,534$55,702
IX-16 OccupancyPrograms $151,340 · Management $32,430 · Fundraising $32,430$216,200
IX-17 TravelPrograms $21,159 · Management $632 · Fundraising $711$22,502
IX-19 Conferences, conventions and meetingsPrograms $5,844 · Management $2,296 · Fundraising $4,477$12,617
IX-20 InterestPrograms $152,620$152,620
IX-22 Depreciation, depletion and amortizationPrograms $10,496 · Management $3,499$13,995
IX-23 InsurancePrograms $56,096$56,096
IX-24 Other expenses (24a–d)Programs $42,739 · Management $3,555 · Fundraising $1,131$47,425
IX-24e All other expensesPrograms $65,803 · Management $5,678 · Fundraising $1,476$72,957
IX-25 Total functional expensesPrograms $3,534,439 · Management $277,549 · Fundraising $308,463$4,120,451
Part X · Balance sheet $10,420,742 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,234,292$2,035,004
X-3 Pledges and grants receivableStart of year $843,873$532,137
X-9 Prepaid expenses and deferred chargesStart of year $12,758$5,178
X-10c Land, buildings and equipment, netStart of year $4,692,592$4,726,912
X-15 Other assetsStart of year $3,356,295$3,121,511
X-16 Total assetsStart of year $10,175,904$10,420,742
X-17 Accounts payable and accrued expensesStart of year $196,315$105,484
X-25 Other liabilitiesStart of year $581,757$281,835
X-26 Total liabilitiesStart of year $4,018,072$3,387,319
X-27 Net assets without donor restrictionsStart of year −$96,957$1,724,438
X-28 Net assets with donor restrictionsStart of year $6,254,789$5,308,985
X-32 Total net assets or fund balancesStart of year $6,157,832$7,033,423
X-33 Total liabilities and net assetsStart of year $10,175,904$10,420,742
Part XI · Reconciliation of net assets $7,033,423 net assets at year end
XI-1 Total revenue$4,996,042
XI-2 Total expenses$4,120,451
XI-3 Revenue less expenses$875,591
XI-4 Net assets at start of year$6,157,832
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,033,423

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

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