Seec Corporation

Analysis

Seec Corporation is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in May 1988, 38 years ago. Its declared purposes cover employment, 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, Seec Corporation reported income of $25.3m and spending of $17.5m, leaving 31% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.7m to $25.3m (+116%), an average of +21% a year. The sharpest change came in the year to June 2023, when income rose by 55%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Seec Corporation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MD. Charities of a similar size with the same main cause include Woodbine Community Organization Wco Inc ($25.3m), Northwest Center ($25.4m) and Skills USA Inc ($25.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.1% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $419k (2.4% of expenses). Other salaries and wages came to $11.3m. At year end it held assets of $27.5m against liabilities of $15.0m, net assets of $12.5m. It reported 278 employees.