Seeqs Foundation
Nonprofit profile at a glance
- EIN
- 461396100
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024, Form 990-EZ 2019
- Location
- Honolulu, HI, USA
- Phone
- 8086773377
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $1,387,845
- Expenses
- $91,972
- Assets
- $2,238,737
- Liabilities
- $18,220
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- RICHARD WALLSGROVE (PRESIDENT)
People named in this filing
- RICHARD WALLSGROVE (PRESIDENT)
- JOHN FOSTER (VICE-PRESIDE)
- CHASE LIVINGSTON (SECRETARY)
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
(a) to serve as a supporting organization within the meaning of section 509(a)(3) of the internal revenue code to the school for examining essential questions of sustainability (seeqs), a Hawaii public charter school and entity described in section 170(b)(1)(a)(v) of the internal revenue code, and, in this capacity, to operate exclusively for the benefit of, to perform the functions of, and to carry out the purposes of seeqs; and (b) to operate exclusively for charitable, religious, literary, educational and scientific purposes, within the meaning of the section 501 (c)(3) of the internal revenue code.
What it reported doing in 2024
Continued executing the foundation's fundraising, grants plan, and supporter engagement plan in support of our exempt purpose; for example, the foundation assisted to make it possible for the seeqs school (which educates more than 100 middle school students) to meet targets related to financial sustainability, educational excellence, and continued work towards growth. Perhaps most importantly, the foundation continues to lease a site to house the school and assists in securing a long-term facility to house the school.
Operating model
- Revenue model
- Donor-supported. 98% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 88% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 35
- Transparency & Controls: 94
- Accountability: 82
- Sustainability: 93
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 7.3%; rating input score 7
- Program expense ratio: 93.3%; rating input score 93
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- 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: 93.4%; rating input score 99; 99th percentile among comparable filings
- Total-asset coverage ratio: 24.34; rating input score 97; 97th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 70; 70th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 22.1% per year; rating input score 100; 85th percentile among comparable filings
- Revenue growth: 25.5% per year; rating input score 100; 90th percentile among comparable filings
- Asset growth: 25.8% per year; rating input score 100; 88th percentile among comparable filings
Details
- Where the money goes: 7.3% of revenue deployed · 93.3% of spending went to programs
- Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $86K in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 21 of 21 current checks pass
- Schedules: 7 filed schedules · includes major donors and grants
- Filing history: 5 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 3 filed related-organization links
- 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 — Financial Efficiency: Mission deployment rate scored 7/100.
- Review — Accountability: Governance controls: 2 of 6 not reported.