Seedspot

Analysis

Seedspot is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in March 2014, 12 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Seedspot reported income of $1.5m and spending of $1.4m, spending 92% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.7m to $1.5m (-15%), an average of -5.4% a year. The sharpest change came in the year to June 2022, when income rose by 69%. Over the whole period it spent 89% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Seedspot sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 81st percentile within AZ. Charities of a similar size with the same main cause include Latino Academy of Workforce Development Inc ($1.5m), Washington State Community Action Partnership ($1.5m) and Regional AIDS Intercommunity Network of Oklahoma ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $205k (15% of expenses). Other salaries and wages came to $411k. At year end it held assets of $993k against liabilities of $102k, net assets of $890k. It reported 6 employees.