Southeast Effective Development
Nonprofit profile at a glance
- EIN
- 910947619
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024, Form 990-T 2020
- Location
- Seattle, WA, USA
- Phone
- 2067237333
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Community, Neighborhood Development
Reported finances
- Revenue
- $15,860,100
- Expenses
- $16,023,989
- Assets
- $75,080,122
- Liabilities
- $79,540,085
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- MICHAEL SEIWERATH (EXECUTIVE DIRECTOR)
- DAMIAN STACK (PRESIDENT)
- SUSANNA TRAN (VICE PRESIDENT & DIRECTOR)
- MARI TAMIYASU (SECRETARY & VICE PRESIDENT)
Highest reported compensation
- MICHAEL SEIWERATH (EXECUTIVE DIRECTOR): $182,944 total reported compensation
- KENT'AE VAN LONDON (DIRECTOR OF PROPERTY & ASSET MGMT): $154,041 total reported compensation
- JUHEE KANG (REAL ESTATE DEVELOPMENT DIRECTOR): $142,889 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
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.
What it reported doing in 2024
Seedarts builds community by presenting diverse arts experiences, nurturing local artists, and infusing creativity into our neighborhoods. We offer visual, performing, media, and public art programs in southeast seattle that support and sustain artists, inspire and connect residents, and revitalize community.our programs focus on:-curating, facilitating and promoting arts and cultural experiences, especially those created by under-represented voices and youth;-preserving and growing venues and resources for artists to work and generate income from their creative endeavors; and-integrating art into the fabric of our community.values:-representative: emphasizing under-represented voices and stories-community centered: facilitating the artist and the community to drive the work-hyper-local: focusing on southeast seattleseedarts is committed to becoming an inclusive and anti-racist organization. To make our arts experiences accessible, our programs are located within the communities we serve, are community driven and culturally relevant, and are offered for free or low-cost. Seedarts has grown from a grassroots community arts program, launched in 1982, into a multidisciplinary arts organization that serves one of the most geographically diverse and economically challenged neighborhoods in the city.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 90
- Transparency & Controls: 80
- Accountability: 100
- Sustainability: 45
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92%; rating input score 92
- Program expense ratio: 90.6%; rating input score 91
- Fundraising efficiency: $45.48 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 8th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -1%; rating input score 26; 26th percentile among comparable filings
- Total-asset coverage ratio: 4.69; rating input score 84; 84th percentile among comparable filings
- Liabilities to assets ratio: 1.06; rating input score 5; 5th percentile among comparable filings
- Officer compensation ratio: 3.6%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 27.2% per year; rating input score 100; 94th percentile among comparable filings
- Revenue growth: 28.4% per year; rating input score 100; 96th percentile among comparable filings
- Asset growth: 12.4% per year; rating input score 100; 74th percentile among comparable filings
Details
- Where the money goes: 92% of revenue deployed · 90.6% of spending went to programs
- Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $14.5M in reported program spending
- Leadership: top reported pay $183K · 18 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 3 contractors listed · $724K reported
- Consistency: 33 of 34 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 5 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: 13 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 — Sustainability: Operating margin scored 26/100.
- High — Sustainability: Liabilities to assets ratio scored 5/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.