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Seeds of Learning

Tax-deductible

Pagosa Spgs, CO501(c)(3)EducationEIN 84-1450521

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Seeds of Learning is a stand-alone, NAEYC accredited early care and education center, that serves children ages 30 months through age 5. As a community-based facility, Seeds offers parenting classes, educational opportunities for families and other early childhood professionals, and participates in community outreach projects.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Run by 43 volunteers and 26 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $264K a year · 23% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$76K
to officers and key staff · 7% of spending
Top officer’s pay lower than 83% of similar orgs
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 10.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$74K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+17% vs prior year
Spent
$1.1M
To programs
90%
Net assets
$3.0M
By yearFY2020–FY2024
Revenue
$1.2M
FY2024▲ +17%
Revenue by fiscal year
FY2020$872K
FY2021$1.3M
FY2022$1.2M
FY2023$1.0M
FY2024$1.2M
Expenses
$1.1M
FY2024▲ +14%
Expenses by fiscal year
FY2020$668K
FY2021$786K
FY2022$878K
FY2023$945K
FY2024$1.1M
Net assets
$3.0M
FY2024▲ +8%
Net assets by fiscal year
FY2020$1.8M
FY2021$2.3M
FY2022$2.6M
FY2023$2.8M
FY2024$3.0M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1998.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $970K Management & general 5% · $49K Fundraising 6% · $63K

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

8 people listed on the 990; $76K paid to officers and key staff.

Part VII, Section A · reportable compensation
Michelle Cusick
Executive Director
$76,219Pt VII · Sec A
$0Pt VII · Sec A
Bob Brobst
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Bob Scott
Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Lauri Heraty
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A

Michelle Cusick’s $76K as Executive Director is at the 17th 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 · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Lynne Bridges————$78,200
Michelle Cusick$76,219$73,900$71,832——
Lynne Bridges - Thru 921———$50,521—
Michelle Cusick - as of 1021———$32,250—

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 Seeds of Learning 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

Provides early childhood education and parenting support for young children and families.

Provided by the organization

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1 program · $970K · in their own filed words · FY2024
01

In 2024 Seeds of Learning (Seeds) utilized universal pre-kindergarten money to invest in teachers and parent participation, including expanding staff, hosting family nights, and collaborating with other organizations to provide high quality early childhood education, while keeping tuition costs affordable for the region.

$970Kprogram 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 · FY2024
Tulsa Community FoundationFY2024$25K
Total grants receivedfrom 1 funder$25K
Grants paid · 2 grants · $69K · 2024–2024
Unitemized GrantFY2024$65,231
Unitemized GrantFY2024$3,638

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$666K
Gifts and grantsLn 1h$456K
Investment incomeLn 3$58K
Money outPt IX
$1.1M
Ln 25
Programscol B$970K
Managementcol C$49K
Fundraisingcol D$63K
Owns and owesPt X
$3.0M
net assets · Ln 32
Cash and savingsLn 1–2$917K
Total assetsLn 16$3.0M
LiabilitiesLn 26$74K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$456K
Government grantsLn 1e$138K
Noncash giftsLn 1g$19K
Fundraising eventsLn 1c$175K
Fees for servicesLn 2g$666K
Investment incomeLn 3$58K
Other incomeLn 4–11$37K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$95K
SavingsLn 2$822K
Cash and savings togetherLn 1–2$917K
InvestmentsLn 11–13$1.3M
Land, buildings, equipmentLn 10c$723K
Other assetsLn 15$32K
Total assetsLn 16$3.0M
LiabilitiesLn 26$74K
Net assetsLn 32$3.0M
OperationsPt I, VI
EmployeesI 526
VolunteersI 643
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$689K$917K
InvestmentsLn 11–13$1.2M$1.3M
Land, buildings, equipmentLn 10c$760K$723K
Total assetsLn 16$2.8M$3.0M
LiabilitiesLn 26$67K$74K
Net assetsLn 32$2.8M$3.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$69K$69K
Pay of current officers, directors and key staffLn 5$76K$64K$8K$4K
Other salaries and wagesLn 7$561K$515K$46K
Other employee benefitsLn 9$41K$34K$4K$2K
Payroll taxesLn 10$53K$49K$703$4K
Accounting feesLn 11c$31K$4K$26K$263
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$1K$1K$129$58
Office expensesLn 13$6K$4K$536$900
Information technologyLn 14$3K$3K
OccupancyLn 16$21K$18K$2K$1K
InterestLn 20$109$109
Depreciation, depletion and amortizationLn 22$43K$43K
InsuranceLn 23$17K$14K$2K$851
Other expenses (24a–d)Ln 24$150K$147K$2K$1K
All other expensesLn 24e$7K$5K$2K$136
Total functional expensesLn 25$1.1M$970K$49K$63K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.2M$1.1M$135K$3.0M 990 PDF
FY2023 $1.0M$945K$96K$2.8M 990 PDF
FY2022 $1.2M$878K$361K$2.6M 990 PDF
FY2021 $1.3M$786K$524K$2.3M 990 PDF
FY2020 $872K$668K$204K$1.8M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,216,418 across 11 lines filed
VIII-1a Federated campaigns$4,266
VIII-1c Fundraising events$174,809
VIII-1e Government grants$137,640
VIII-1f All other contributions, gifts and grants$138,899
VIII-1g Noncash contributions (included above)$19,420
VIII-1h Total contributions, gifts and grants$455,614
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $665,677$665,677
VIII-3 Investment incomeRelated to mission $57,823$57,823
VIII-8 Net income from fundraising eventsExcluded from tax $37,285$37,285
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $19$19
VIII-12 Total revenueRelated to mission $723,519 · Unrelated business $0 · Excluded from tax $37,285$1,216,418
Part IX · Statement of functional expenses $1,081,471 across 16 lines filed
IX-2 Grants to domestic individualsPrograms $68,869$68,869
IX-5 Pay of current officers, directors and key staffPrograms $64,024 · Management $8,384 · Fundraising $3,811$76,219
IX-7 Other salaries and wagesPrograms $514,724 · Fundraising $46,000$560,724
IX-9 Other employee benefitsPrograms $34,344 · Management $4,278 · Fundraising $1,945$40,567
IX-10 Payroll taxesPrograms $48,568 · Management $703 · Fundraising $4,180$53,451
IX-11c Accounting feesPrograms $4,431 · Management $26,020 · Fundraising $263$30,714
IX-11g Other fees for servicesPrograms $2,113$2,113
IX-12 Advertising and promotionPrograms $1,180 · Management $129 · Fundraising $58$1,367
IX-13 Office expensesPrograms $4,249 · Management $536 · Fundraising $900$5,685
IX-14 Information technologyFundraising $2,515$2,515
IX-16 OccupancyPrograms $17,898 · Management $2,344 · Fundraising $1,065$21,307
IX-20 InterestPrograms $109$109
IX-22 Depreciation, depletion and amortizationPrograms $43,419$43,419
IX-23 InsurancePrograms $14,290 · Management $1,871 · Fundraising $851$17,012
IX-24 Other expenses (24a–d)Programs $146,900 · Management $2,234 · Fundraising $1,029$150,163
IX-24e All other expensesPrograms $4,626 · Management $2,475 · Fundraising $136$7,237
IX-25 Total functional expensesPrograms $969,744 · Management $48,974 · Fundraising $62,753$1,081,471
Part X · Balance sheet $3,047,341 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $123,197$94,592
X-2 Savings and temporary cash investmentsStart of year $566,231$822,280
X-3 Pledges and grants receivableStart of year $100,000$50,000
X-4 Accounts receivableStart of year $45,416$46,168
X-9 Prepaid expenses and deferred charges$763
X-10c Land, buildings and equipment, netStart of year $759,558$722,673
X-11 Publicly traded securitiesStart of year $1,193,691$1,279,099
X-15 Other assetsStart of year $32,919$31,766
X-16 Total assetsStart of year $2,821,012$3,047,341
X-17 Accounts payable and accrued expensesStart of year $43,159$52,327
X-19 Deferred revenueStart of year $13,817$12,333
X-25 Other liabilitiesStart of year $5,031$7,167
X-26 Total liabilitiesStart of year $66,911$74,468
X-27 Net assets without donor restrictionsStart of year $2,638,986$2,916,728
X-28 Net assets with donor restrictionsStart of year $115,115$56,145
X-32 Total net assets or fund balancesStart of year $2,754,101$2,972,873
X-33 Total liabilities and net assetsStart of year $2,821,012$3,047,341
Part XI · Reconciliation of net assets $2,972,873 net assets at year end
XI-1 Total revenue$1,216,418
XI-2 Total expenses$1,081,471
XI-3 Revenue less expenses$134,947
XI-4 Net assets at start of year$2,754,101
XI-5 Net unrealized gains (losses) on investments$83,825
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,972,873

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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