Schoolseed Foundation

Analysis

Schoolseed Foundation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in July 2009, 17 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Schoolseed Foundation reported income of $2.8m and spending of $5.2m, spending 183% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.7m to $2.8m (+69%), an average of +19% a year. The sharpest change came in the year to December 2020, when income rose by 366%. Over the whole period it spent 94% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Schoolseed Foundation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within TN. Charities of a similar size with the same main cause include Friends of Holy Etchmiadzin Inc ($2.8m), United Way of the Ocoee Region ($2.8m) and Gallatin Ice Foundation Inc ($2.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 95% and program service revenue 3.7% of the total. Other salaries and wages came to $717k. At year end it held assets of $9.7m against liabilities of $314k, net assets of $9.4m. It reported 5 employees.