Seeds of Fortune Inc
Nonprofit profile at a glance
- EIN
- 465568476
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024, Form 990-N 2019
- Location
- Brooklyn, NY, USA
- Phone
- 7187811879
- Rating
- 66
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Youth Development N.E.C.
Reported finances
- Revenue
- $753,203
- Expenses
- $727,599
- Assets
- $509,694
- Liabilities
- $116,578
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- NITIYA WALKER (EXECUTIVE DIRECTOR)
People named in this filing
- NITIYA WALKER (EXECUTIVE DIRECTOR)
- APRIL DRUMMOND (BOARD MEMBER)
- BROOKLYN WHITE-GRIER (ADVISORY BOARD MEMBER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Seeds of fortune inc. Is a nonprofit edtech platform helping members on their first steps to economic security by finding affordable college options, building financial management, and career skills in a sisterly online network.
What it reported doing in 2024
Seed of fortune inc. Program has five tiers: college prep leadership program, seed scholars in partnership with yale women in economics, innovation research summer program, girls start up, and seeds university. College prep leadership program - in this program, students learn about the college/scholarship application process as well as access to our college partners, learn : college essay, scholarship and college apps, picking the right school, saving for college, financial aid, college major, funding as undocumented students. Seeds scholars in partnership with yale women in economics - this is a college prep program that helps nyc high schools rising 11th grade minority girls apply for college scholorships and teach professional and finacial mamagement skills.
Operating model
- Revenue model
- Donor-supported. 99% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 79
- Transparency & Controls: 86
- Accountability: 6
- Sustainability: 44
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 77.4%; rating input score 77
- Program expense ratio: 80%; rating input score 80
- Fundraising efficiency: $149.47 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
- Governance controls: 1 of 7 controls in place; rating input score 14
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 3.4%; rating input score 46; 46th percentile among comparable filings
- Total-asset coverage ratio: 0.7; rating input score 32; 32nd percentile among comparable filings
- Liabilities to assets ratio: 0.23; rating input score 29; 29th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 36.3% per year; rating input score 100; 92nd percentile among comparable filings
- Revenue growth: 25.9% per year; rating input score 100; 90th percentile among comparable filings
- Asset growth: 28.6% per year; rating input score 100; 90th percentile among comparable filings
Details
- Where the money goes: 77.4% of revenue deployed · 80% of spending went to programs
- Governance: 0 of 7 board members independent · 1 of 7 filing controls reported
- Programs: 3 filed program accomplishments · $582K in reported program spending
- Leadership: top reported pay $0 · 12 people listed
- Consistency: 27 of 28 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes major donors
- Filing history: 4 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 5 of 6 not reported.
- Moderate — Sustainability: Operating margin scored 46/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 29/100.