Southeast Effective Development
- Assets
- $58.2m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 18
- Location
- Seattle, WA
- Founding
- 09/2001
- Data as of
- 12/2022
- EIN
- 91-0947619
Organization Overview
Southeast Effective Development is located in Seattle, WA. The organization was established in 2001. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Southeast Effective Development employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeast Effective Development 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, Southeast Effective Development generated $7.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $9.4m during the year ending 12/2022. While expenses have increased by 16.1% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SOUTHEAST EFFECTIVE DEVELOPMENT ("SEED") IS A NOT-FOR-PROFIT COMMUNITY DEVELOPMENT CORPORATION THAT INVESTS IN THE FUTURE OF SOUTHEAST SEATTLE BY FACILITATING SOCIAL, ECONOMIC, HOUSING AND CULTURAL PROGRAMS WITHIN THE COMMUNITY. FOUNDED IN 1975, SEED WORKS TO STRENGTHEN AND REVITALIZE THE NEIGHBORHOODS AND BUSINESS DISTRICTS OF SOUTHEAST SEATTLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING: SEED'S AFFORDABLE HOUSING PROGRAM WAS INITIATED IN 1986 AS PART OF A COMPREHENSIVE APPROACH TO COMMUNITY REVITALIZATION IN SOUTH EAST SEATTLE. SINCE THEN, SEED HAS REDEVELOPED AND CONSTRUCTED OVER 1,000 UNITS OF MULTI-FAMILY UTILIZING FEDERAL HOUSING TAX CREDITS. STATE TAX-EXEMPT BONDS AND OTHER PUBLIC/PRIVATE PARTNERSHIPS. SEED HAS INCREASED THE AVAILABILITY OF DECENT AFFORDABLE HOUSING TO SENIORS, PEOPLE WITH DISABILITIES, AND FAMILIES/INDIVIDUALS WITH LIMITED INCOME.
ARTS PROGRAM: SEED'S ART PROGRAM WORKS WITH ARTISTS, YOUTH AND COMMUNITY RESIDENTS TO CREATE OPPORTUNITIES FOR PEOPLE TO MAKE A DIFFERENCE IN THEIR NEIGHBORHOODS. WITH BROAD COMMUNITY SUPPORT, SEED HAS DEVELOPED CULTURAL FACILITIES IN THE VISUAL AND PERFORMING ARTS THAT SERVE AS GATHERING SPACES FOR PEOPLE OF ALL CULTURES.SEED PARTNERS WITH SCHOOLS AND COMMUNITY ORGANIZATIONS TO INVOLVE YOUTH AND THEIR FAMILIES IN CREATING PUBLIC AND PERFORMANCE ART FOR THIS COMMUNITY. THE ARTS PROGRAM CREATES OPPORTUNITIES FOR PROFESSIONAL ARTISTS TO CONTRIBUTE TO THEIR OWN NEIGHBORHOODS THROUGH PUBLIC ART CREATION, JAZZ AND WORLD MUSIC PERFORMANCES, AND ARTS PLANNING AND ADVOCACY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Seiwerath Executive Director | Officer | 40 | $155,543 |
Joon Chang Finance Director | Officer | 40 | $111,465 |
Tonita Webb President & Immediate Past President | OfficerTrustee | 2 | $0 |
Damian Stack Vice President & President | OfficerTrustee | 2 | $0 |
Susanna Tran Director & Vice President | OfficerTrustee | 2 | $0 |
Neal Luna JD Secretary Treasurer (through March 2022) | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Venture General Contracting Construction | 12/30/19 | $10,906,170 |
Ryan General Contractors Construction | 12/30/19 | $4,188,017 |
Wyser Construction Construction | 12/30/19 | $338,551 |
Johnson Braund Inc Architecture | 12/30/19 | $201,684 |
King County Finance Government | 12/30/19 | $275,323 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $576,416 |
| All other contributions, gifts, grants, and similar amounts not included above | $222,419 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $798,835 |
| Total Program Service Revenue | $5,773,355 |
| Investment income | $559,907 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $108,920 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $49,171 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,345,501 |
| 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. | $285,644 |
| Compensation of current officers, directors, key employees. | $12,711 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $920,316 |
| Pension plan accruals and contributions | $499 |
| Other employee benefits | $111,883 |
| Payroll taxes | $121,705 |
| Fees for services: Management | $182,271 |
| Fees for services: Legal | $6,382 |
| Fees for services: Accounting | $100,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $291,017 |
| Advertising and promotion | $24,021 |
| Office expenses | $261,661 |
| Information technology | $99,321 |
| Royalties | $0 |
| Occupancy | $1,230,070 |
| Travel | $3,939 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,363 |
| Interest | $634,422 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $966,479 |
| Insurance | $133,808 |
| All other expenses | $27,420 |
| Total functional expenses | $9,361,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,659,480 |
| Savings and temporary cash investments | $1,762,326 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,938,144 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,534,132 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $319,763 |
| Net Land, buildings, and equipment | $36,903,362 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,179,741 |
| Intangible assets | $0 |
| Other assets | $5,938,584 |
| Total assets | $58,235,532 |
| Accounts payable and accrued expenses | $2,199,932 |
| Grants payable | $0 |
| Deferred revenue | $92,710 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $228,738 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $34,113,459 |
| Unsecured mortgages and notes payable | $19,449,916 |
| Other liabilities | $0 |
| Total liabilities | $56,084,755 |
| Net assets without donor restrictions | $2,150,777 |
| Net assets with donor restrictions | $0 |
| 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 | $58,235,532 |