Sead Project

Analysis

Sead Project is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in June 2015, 11 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Sead Project reported income of $526k and spending of $538k, spending 102% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $242k to $526k (+118%), an average of +22% a year. The sharpest change came in the year to June 2021, when income rose by 191%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sead Project sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within MN. Charities of a similar size with the same main cause include Center for Individual and Family Counseling ($526k), Great Plains Diabetes Research Inc ($526k) and Allex Inc ($526k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 94% and program service revenue 4.4% of the total. Compensation of current officers, directors and key employees was $147k (27% of expenses). Other salaries and wages came to $139k. It paid $20k in professional fundraising fees. At year end it held assets of $335k against liabilities of $213, net assets of $334k. It reported 5 employees.