Schoolseed Foundation
- Assets
- $9.7m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 5
- Location
- Memphis, TN
- Founding
- 07/2009
- Data as of
- 12/2022
- EIN
- 26-4477567
Organization Overview
Schoolseed Foundation, operating under the name SchoolSeed, is located in Memphis, TN. The organization was established in 2009. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, SchoolSeed employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. SchoolSeed is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, SchoolSeed generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $5.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SCHOOLSEED IS AN INDEPENDENT NONPROFIT ORGANIZATION WHOSE MISSION IS TO SUPPORT PUBLIC SCHOOLS IN SHELBY COUNTY BY: (1) RAISING MONEY FOR PROGRAMS THAT FEDERAL, STATE, AND LOCAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ARE RAZOR FOCUSED ON THE DELIVERY AND IMPROVED OUTCOMES BY MANAGING A VARIETY OF SERVICES AND PROGRAMS FOR THE BENEFIT OF SCHOOLS, EDUCATORS, STUDENTS, AND PARENTS. THE FOUNDATION'S MISSION IS TO SECURE AND MANAGE PRIVATE RESOURCES FOR THE BENEFIT OF PUBLIC EDUCATION, COORDINATE COMMUNITY EFFORTS TO SUPPORT PUBLIC EDUCATION, PROVIDE DEVELOPMENT AND TRAINING OPPORTUNITIES TO TEACHERS AND ADMINISTRATORS, AND TO OPERATE AND SUPPORT PROGRAMS IN SCHOOLS DEDICATED TO ACCELERATING STUDENT ACHIEVEMENT. OUR BODY OF WORK INCLUDES, BUT IS NOT LIMITED TO : FISCAL MANAGEMENT OF PRIVATE SUPPORT FOR PUBLIC EDUCATION; TEACHER RETENTION AND RECOGNITION PROJECTS: SCHOOL-BASED PROJECTS THAT SUPPORT STUDENTS, TEACHERS, AND ADMINISTRATORS; PUBLICATION OF A RESOURCE GUIDE FOR PARENTS; RECRUITING, TRAINING, AND DEPLOYING READING TUTORS FOR STUDENTS PK-3RD GRADE; SUPPORTS FOR EFFECTIVE TEACHING; LEADERSHIP TRAINING; AND SPECIAL PROJECTS THAT ATTEND TO EMERGING NEEDS. OUR THEORY OF CHANGE IS PREDICATED ON THE IDEA THAT CAPACITY BUILDING IN SCHOOLS, SUPPORT FOR TEACHERS AND LEADERS, RIGOROUS CURRICULUM, TARGET SETTING, ONGOING IMPROVEMENT OF CURRICULUM AND INSTRUCTION, AND PROMOTING EFFECTIVE PRACTICE WILL ACCERATE STUDENT AND SCHOOL ACHIEVEMENT. THE FOUNDATION'S THEORY OF ACTION CALLS FOR: THE BUILDING AND SUSTAINING OF A COLLABORATIVE PARTNERSHIP WITH SCHOOL DISTRICTS AND THEIR SCHOOL-BASED LEADERSHIP; BUILDING AND SUSTAINING OF A COLLABORATIVE PARTNERSHIP WITH THE PHILANTHROPIC AND BUSINESS COMMUNITY; PROVIDING SUPPLEMENTARY SUPPORTS TO STUDENTS, TEACHERS, AND ADMINISTRATORS; AND TRACKING AND MONITORING THE PROGRESS OF PROJECTS. THE FOUNDATION SEEKS TO INCREASE COLLEGE ATTENDANCE AND GRADUATION RATES-A MATTER OF EQUITY; ACCESS, AND COMMUNITY DEVELOPENT.
SPONSORSHIPS: SUPPORT PROGRAMS AIMED AT PROVIDING A SPECIFIC INITIATIVE WITH FUNDING. (5000+ PERSONS BENEFITED)
SCHOOL SPECIFIC INITIATIVES: SUPPORT PROGRAMS AIMED AT SPECIFIED SCHOOLS FOR THE SCHOOLS MOST IMMEDIATE NEEDS. (3000+ PERSONS BENEFITED)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Mitchell Chairman | OfficerTrustee | 0 | $0 |
Ken Foster Treasurer | OfficerTrustee | 0 | $0 |
Lisa Wheeler Jenkins Secretary | OfficerTrustee | 0 | $0 |
Regina Walker Director | Trustee | 0 | $0 |
David Cocke Director | Trustee | 0 | $0 |
Beverly Cross Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alma Advisory Group Consulting | 12/30/17 | $954,019 |
Group Dynamics & Strategy Trainng Assoc Consulting | 12/30/17 | $577,455 |
Education Resource Strategies Consulting | 12/30/17 | $1,560,000 |
Didax Incorporated Books | 12/30/17 | $423,320 |
Kingdom Quality Communicaiton Pr/communications | 12/30/17 | $410,856 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,696,156 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,696,156 |
| Total Program Service Revenue | $104,646 |
| Investment income | $21,964 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,826,393 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $716,991 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $97,778 |
| Payroll taxes | $52,908 |
| Fees for services: Management | $24,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $32,090 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,287 |
| Travel | $10,660 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,610 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,179 |
| Insurance | $14,107 |
| All other expenses | $4,083,559 |
| Total functional expenses | $5,165,739 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,270,432 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $416,246 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,600,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $14,223 |
| Investments—publicly traded securities | $1,220,720 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,194,895 |
| Total assets | $9,717,016 |
| Accounts payable and accrued expenses | $310,365 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,062 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $314,427 |
| Net assets without donor restrictions | $2,607,195 |
| Net assets with donor restrictions | $6,795,394 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,717,016 |