New Seed Found FY2023 filing

Tax-deductible

Passaic, NJ501(c)(3)UnclassifiedEIN 94-2821843Revenue $180K in FY2023

On file with the IRS25 Dakota St, 07055-3331 · Passaic, NJTax-exempt since Feb 1996Publicly supported charity — 170(b)(1)(A)(vi)

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To provide relief for the disadvantaged, especially single mothers & children,to assist them to be independent and self sufficient, through model programs.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$24K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
4 of 5
filings with a surplus
Average surplus $134K a year · 40% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$24K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
15 mo
of spending, in cash
Looks good: 15.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $40K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$20K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$180K
-79% vs prior year
Spent
$201K
To programs
88%
Net assets
$1.0M
By yearFY2020–FY2024
Revenue
$180K
FY2023▼ -79%
Tap a bar for its year
Revenue by fiscal year
FY2020$190K
FY2021$241K
FY2022$838K
FY2023$180K
FY2024$240K
Expenses
$201K
FY2023▼ -45%
Tap a bar for its year
Expenses by fiscal year
FY2020$97K
FY2021$140K
FY2022$367K
FY2023$201K
FY2024$212K
Net assets
$1.0M
FY2023▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$561K
FY2021$663K
FY2022$1.1M
FY2023$1.0M
FY2024$1.1M

From the FY2023 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1996.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $177K Management & general 12% · $25K

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

3 people listed on the 990; $24K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Executive Officer
$24,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2021FY2020
Joan Laurence$102,486$24,000——
Joan Lawrence——$24,000$24,000

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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps disadvantaged single mothers and children become independent through model programs.

Questions for New Seed Found

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Provided by the organization

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1 program · $177K · in their own filed words · FY2023
01

Developed a Community Platform combining technology with opportunities to give and receive. Volunteers were paired with those who requested assistance.Volunteers made home visits to disadvantaged seniors and delivered hot meals.Volunteer therapists offered support groups to single mothers and victims of crisis.

$177Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$40K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$180K
Ln 12
Gifts and grantsLn 1h$143K
Other incomeLn 4–11$34K
Investment incomeLn 3$2K
Money outPt IX
$201K
Ln 25
Programscol B$177K
Managementcol C$25K
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$259K
Total assetsLn 16$1.1M
LiabilitiesLn 26$20K
PeoplePt VI, VII
3
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$143K
Investment incomeLn 3$2K
Other incomeLn 4–11$34K
Total revenueLn 12$180K
Assets in detailPt X, end of year
CashLn 1$259K
Cash and savings togetherLn 1–2$259K
InvestmentsLn 11–13$554K
Land, buildings, equipmentLn 10c$236K
Total assetsLn 16$1.1M
LiabilitiesLn 26$20K
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$418K$259K
InvestmentsLn 11–13$450K$554K
Land, buildings, equipmentLn 10c$236K$236K
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$20K$20K
Net assetsLn 32$1.1M$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$24K$24K
Other salaries and wagesLn 7$107K$107K
Accounting feesLn 11c$15K$15K
Other fees for servicesLn 11g$4K$2K$1K
Office expensesLn 13$2K$2K
OccupancyLn 16$4K$4K
Depreciation, depletion and amortizationLn 22$13K$13K
Other expenses (24a–d)Ln 24$32K$26K$6K
Total functional expensesLn 25$201K$177K$25K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $240K$212K$28K$1.1M 990 PDF
FY2023 Viewing $180K$201K−$22K$1.0M 990 PDF
FY2022 $838K$367K$471K$1.1M 990 PDF
FY2021 $241K$140K$101K$663K 990 PDF
FY2020 $190K$97K$93K$561K 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 FY2023 990 (6 parts)
Part I · Summary $179,728 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $354,432$143,427
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $483,470$2,262
I-11 Other revenuePrior year $0$34,039
I-12 Total revenuePrior year $837,902$179,728
I-13 Grants and similar amounts paidPrior year $140,560$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $199,282$131,066
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $26,962$70,304
I-18 Total expensesPrior year $366,804$201,370
I-19 Revenue less expensesPrior year $471,098−$21,642
Part VI · Governance 2 of 3 board members independent, 5 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $179,728 across 5 lines filed
VIII-1f All other contributions, gifts and grants$143,427
VIII-1h Total contributions, gifts and grants$143,427
VIII-3 Investment incomeUnrelated business $2,262$2,262
VIII-6 Net rental income or lossUnrelated business $34,039$34,039
VIII-12 Total revenueRelated to mission $0 · Unrelated business $36,301 · Excluded from tax $0$179,728
Part IX · Statement of functional expenses $201,370 across 8 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $24,000$24,000
IX-7 Other salaries and wagesPrograms $107,066$107,066
IX-11c Accounting feesManagement $15,077$15,077
IX-11g Other fees for servicesPrograms $2,498 · Management $1,346$3,844
IX-13 Office expensesManagement $1,981$1,981
IX-16 OccupancyPrograms $4,296$4,296
IX-22 Depreciation, depletion and amortizationPrograms $13,064$13,064
IX-24 Other expenses (24a–d)Programs $25,830 · Management $6,212$32,042
IX-25 Total functional expensesPrograms $176,754 · Management $24,616 · Fundraising $0$201,370
Part X · Balance sheet $1,069,551 assets, 8 lines filed
Asset lines not itemized here account for $20,125; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $417,722$259,131
X-10c Land, buildings and equipment, netStart of year $236,328$236,264
X-11 Publicly traded securitiesStart of year $450,352$554,031
X-16 Total assetsStart of year $1,104,402$1,069,551
X-24 Unsecured notes and loans payableStart of year $20,000$20,000
X-26 Total liabilitiesStart of year $20,000$20,000
X-32 Total net assets or fund balancesStart of year $1,084,402$1,049,551
X-33 Total liabilities and net assetsStart of year $1,104,402$1,069,551
Part XI · Reconciliation of net assets $1,049,551 net assets at year end
XI-1 Total revenue$179,728
XI-2 Total expenses$201,370
XI-3 Revenue less expenses−$21,642
XI-4 Net assets at start of year$1,084,402
XI-5 Net unrealized gains (losses) on investments−$13,209
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,049,551

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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