Seedling Foundation FY2023 filing

Austin, TX · Public charity (501(c)(3)) · Education

✓ Tax-deductible Latest data FY2023
Revenue
$1.6M
▲ +15% vs prior year
Spent
$1.4M
To programs
73%
Net assets
$3.1M
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Form 990 for the fiscal year ending July 2023 (IRS tax year 2022).

Figures match the IRS filing checked 9/13/26 · see original: IRS

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
4 funders, incl. Texas Mutual Insurance Company
$94K in the latest grant year.
Spent on programs?
73% to programs
Form 990 Part IX, latest filing.
Size and trend
$1–10M
↑ +15% vs prior year
Legal name (IRS)Hdr · item CSeedling Foundation
EINHdr · item D74-2841791
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFMay 1998
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CAustin, TX
NTEE classificationIRS BMFEducation (B112)
WebsiteHdr · item Jwww.seedlingmentors.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.08 Fundraising $0.18
Program services73%$1.1M
Management & general8%$119K
Fundraising18%$265K
Total functional expensesLn 25$1.4M

Financial health

Revenue & expenses by yearFY2020–FY2025
Revenue
$1.6M
FY2023▲ +15%
Expenses
$1.4M
FY2023▲ +23%
Program efficiency
73%
of spending reaches programs
Operating runway
27.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
+8%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$3.4M
FY2023▲ +11%
Total liabilities
$313K
FY2023▲ +84%
Revenue less expensesPt I · Ln 19$125K
Total assetsPt X · Ln 16$3.4M
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 317
Independent voting membersPt I · Ln 417

Balance Sheet

Part X · end of year
CashLn 1$1.1M
Total assetsLn 16$3.4M
Total liabilitiesLn 26$313K
Total net assetsLn 32$3.1M
Months of cash on handcomputed9.2

Statement of Revenue

Part VIII
Contributions & grants$1.6M · 101%
Investment income$62K · 4%
Contributions & grants101%$1.6M
Investment income4%$62K
— government grantsLn 1e$694K
Total revenueLn 12$1.6M

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.3M · Operating expenses (Pt IX) $1.4M · Less non-cash grants $11K · Cash operating expenses/yr $1.4M
27.4 months
Where the money goes
Program services
Program services $1.1M · Total expenses $1.4M
73%
Management & General
Management & general $119K · Total expenses $1.4M
8%
Fundraising
Fundraising $265K · Total expenses $1.4M
18%
Cost to raise $1
Fundraising expense (3-yr avg) $217K · Solicited contributions (3-yr avg) $788K
$0.28 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.6M · Total revenue $1.6M
101%
Government reliance
Government grants $694K · Total revenue $1.6M
44%
Earned-income share
Program service revenue $0 · Total revenue $1.6M
0%
Investment reliance
Investment income $62K · Total revenue $1.6M
+4%
Program self-sufficiency
Program service revenue $0 · Total expenses $1.4M
0%
Growth & trend
Revenue growth (YoY)
This year $1.6M · Prior year $1.4M
+15%
Net-asset trend (YoY)
End of year $3.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.6M · Expenses $1.4M
+8%
Liabilities-to-Assets
Total liabilities — · Total assets $3.4M
—
Net-asset ratio
Net assets $3.1M · Total assets $3.4M
91%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.5M · Other securities (Pt X, ln 12) $663K · Total assets (Pt X, ln 16) $3.4M
63%
People & payroll
Highest Reported Total Compensation
Individual Dan Leal · Reported title EXECUTIVE DI · Highest reported compensation $115K · Total expenses $1.4M
8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.1M · Total expenses $1.4M
76%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 73%——
Overhead ratio 8%——
Fundraising cost ratio 17%——
Revenue growth 15%——
Investment management fee ratio 0.4%——
Accounting fee ratio 2%——

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.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Di
$115,392Pt VII · Sec A
$0Pt VII · Sec A
Past Preside
$0Pt VII · Sec A
President El
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Dan Leal’s $126K as CEO is at the 50th 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 · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dan Leal$126,000$122,500$115,392$117,100$108,350$110,875

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 Seedling Foundation executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a17
Independent voting membersPt VI · Ln 1b17
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

Mission and programs

Supports children of incarcerated parents with school-based mentoring.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $1.1M of program spending, described in the organization's own filed words · FY2022.
01

The foundation launched its mentor program in february 2006 for children who are affected by the incarceration of one or both of their parents. The foundation recruits volunteers from the community, matches them with eligible children, and offers ongoing support to both children and mentors.

$1.1Mprogram expense

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Funders

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 4 funders →
Grants paid · 5 grants · $193K · 2019–2024
Unitemized GrantFY2024$41,077
Unitemized GrantFY2023$54,496
Unitemized GrantFY2022$41,250
Unitemized GrantFY2021$35,852
Unitemized GrantFY2019$20,000

Filing history

YearRevenueExpensesChangeFiling
FY2025 Latest $1.7M$1.6M+10% 990 PDF
FY2024 $1.6M$1.5M+1% 990 PDF
FY2023 Viewing $1.6M$1.4M+15% 990 PDF
FY2022 $1.4M$1.2M-12% 990 PDF
FY2021 $1.5M$1.2M+45% 990 PDF
FY2020 $1.1M$994K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

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