Seedcore Foundation
- Assets
- $5.5m
- Revenue
- $1.4m
- Investments
- $5.1m
- Employees
- 0
- Location
- Bakersfield, CA
- Founding
- Data as of
- 12/2023
- EIN
- 82-5161618
Organization Overview
Seedcore Foundation is located in Bakersfield, CA. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seedcore Foundation 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 12/2023, Seedcore Foundation generated $1.4m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $403.9k during the year ending 12/2023. While expenses have increased by 11.3% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Seedcore Foundation has awarded 80 individual grants totaling $809,831. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
KERN INITIATIVE FOR TALENT + ENTREPRENUERSHIP (KITE) - THIS COLLABORATIVE GROUP FOCUSES ON DEVELOPING KERN COUNTY'S ENTREPRENEURIAL ECOSYSTEM. KITE IS A NETWORK OF PROFESSIONALS WHO RECOGNIZE THE IMPORTANCE OF ENTREPRENEURSHIP IN THE KERN COUNTY COMMUNITY. KITE IS HERE TO CREATE A STRONG FOUNDATION FOR ENTREPRENEURS IN KERN COUNTY, SO THAT THEY HAVE THE GUIDANCE AND RESOURCES TO ANSWER QUESTIONS AND SOLVE PROBLEMS AS ENTREPRENUERS ARE STARTING AND GROWING THEIR BUSINESS. KITE IS A PROJECT OF THE SEEDCORE FOUNDATION, A 501(C)(3) NOT-FOR-PROFIT CORPORATION, IN PARTNERSHIP WITH THE KERN ECONOMIC DEVELOPMENT CORPORATION, A PUBLIC-PRIVATE PARTNERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ingrid Lake President | 8 | $0 | |
John Paul Lake Treasurer | 3 | $0 | |
Danielle Patterson Director | 40 | $87,154 | |
John And Ingrid Lake Family Trust N/a | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,207,568 |
| Interest on Savings | $0 |
| Dividends & Interest | $208,551 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$36,546 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,630 |
| Total Revenue | $1,383,203 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $87,154 |
| Other employee salaries and wages | $62,594 |
| Pension plans, employee benefits | $11,984 |
| Interest | $0 |
| Taxes | $980 |
| Depreciation | $5,932 |
| Occupancy | $1,560 |
| Travel, conferences, and meetings | $5,102 |
| Printing and publications | $0 |
| Other expenses | $23,773 |
| Total operating and administrative expenses | $263,900 |
| Contributions, gifts, grants paid | $140,041 |
| Total expenses and disbursements | $403,941 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $324,911 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $2,100 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,536,204 |
| Net Land, buildings, and equipment | $43,346 |
| Other assets | $21,619 |
| Total assets | $5,456,370 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $210 |
| Total liabilities | $210 |
Grants Awarded
Over the last fiscal year, Seedcore Foundation has awarded $140,041 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
APPLE CORE PROJECT INC PURPOSE: PROJECT SUPPORT - GARDEN EXPANSION | $6,500 |
CALIFORNIA COMMISSION ON SEXUAL EXPLOITATION PURPOSE: PROGRAM SUPPORT - EXPAND SERVICES TARGETING YOUTH POPULATIONS | $5,000 |
FRIENDS OF MERCY FOUNDATION PURPOSE: CLUB MEMBERSHIP DONATION | $1,000 |
EMPOWERMENT DESS PERKINS FOUNDATION PURPOSE: EVENT SPONSORSHIP | $4,700 |
GREATER BAKERSFIELD LEGAL ASSISTANCE INC PURPOSE: PROGRAM SUPPORT - KERN COUNTY LONG-TERM CARE OMBUDSMAN PROGRAM | $5,000 |
HERITAGE ACADEMY PURPOSE: GENERAL SUPPORT | $1,985 |