Structured Employment Economic Development Corporation
- Assets
- $2.2m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 83
- Location
- New York, NY
- Founding
- 01/1977
- Data as of
- 12/2019
- EIN
- 13-2875743
Organization Overview
Structured Employment Economic Development Corporation, operating under the name Seedco, is located in New York, NY. The organization was established in 1977. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2019, Seedco employed 83 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Seedco generated $7.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $8.0m during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (11.5%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Seedco has awarded 119 individual grants totaling $15,320,429. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE ECONOMIC OPPORTUNITY FOR PEOPLE, BUSINESSES, AND COMMUNITIES IN NEED
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORKFORCE DEVELOPMENT- USING A LONG-TERM CAREER CASE MANAGEMENT MODEL, SEEDCO PROVIDES CAREER COUNSELLING AND JOB-READINESS TRAINING AND JOB PLACEMENT SERVICES TO HELP INDIVIDUALS WITH BARRIERS TO EMPLOYMENT OBTAIN, RETAIN AND ADVANCE IN JOBS. SEEDCOS WORKFORCE DEVELOPMENT PROGRAMS PROVIDE A BROAD RANGE OF JOB SEEKERS AND WORKERS WITH PATHS TO SUCCESS THAT BEGIN WITH JOB PLACEMENT AND MOVE ON TO JOB RETENTION AND CAREER ADVANCEMENT. WE TAILOR THESE SERVICES SO THEY MEET THE NEEDS OF HARD-TO-SERVE POPULATIONS INCLUDING NON-CUSTODIAL PARENTS, OUT-OF-SCHOOL YOUTH, AND INDIVIDUALS WITH A HISTORY OF CRIMINAL JUSTICE INVOLVEMENT.
WORKFORCE DEVELOPMENT- USING A LONG-TERM CAREER CASE MANAGEMENT MODEL, SEEDCO PROVIDES CAREER COUNSELLING AND JOB-READINESS TRAINING AND JOB PLACEMENT SERVICES TO HELP INDIVIDUALS WITH BARRIERS TO EMPLOYMENT OBTAIN, RETAIN AND ADVANCE IN JOBS. SEEDCOS WORKFORCE DEVELOPMENT PROGRAMS PROVIDE A BROAD RANGE OF JOB SEEKERS AND WORKERS WITH PATHS TO SUCCESS THAT BEGIN WITH JOB PLACEMENT AND MOVE ON TO JOB RETENTION AND CAREER ADVANCEMENT. WE TAILOR THESE SERVICES SO THEY MEET THE NEEDS OF HARD-TO-SERVE POPULATIONS INCLUDING NON-CUSTODIAL PARENTS, OUT-OF-SCHOOL YOUTH, AND INDIVIDUALS WITH A HISTORY OF CRIMINAL JUSTICE INVOLVEMENT.
WORKFORCE DEVELOPMENT- USING A LONG-TERM CAREER CASE MANAGEMENT MODEL, SEEDCO PROVIDES CAREER COUNSELLING AND JOB-READINESS TRAINING AND JOB PLACEMENT SERVICES TO HELP INDIVIDUALS WITH BARRIERS TO EMPLOYMENT OBTAIN, RETAIN AND ADVANCE IN JOBS. SEEDCOS WORKFORCE DEVELOPMENT PROGRAMS PROVIDE A BROAD RANGE OF JOB SEEKERS AND WORKERS WITH PATHS TO SUCCESS THAT BEGIN WITH JOB PLACEMENT AND MOVE ON TO JOB RETENTION AND CAREER ADVANCEMENT. WE TAILOR THESE SERVICES SO THEY MEET THE NEEDS OF HARD-TO-SERVE POPULATIONS INCLUDING NON-CUSTODIAL PARENTS, OUT-OF-SCHOOL YOUTH, AND INDIVIDUALS WITH A HISTORY OF CRIMINAL JUSTICE INVOLVEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tara Colton Executive Director | Officer | 0 | $197,625 |
Keith Rasmussen Managing Director | Officer | 35 | $185,861 |
Eliezer Rodriguez ESQ Chair | OfficerTrustee | 1 | $0 |
Lilliam Barrios-Paoli Vice Chairman | OfficerTrustee | 1 | $0 |
Wilfred Renta Treasurer | OfficerTrustee | 1 | $0 |
Jose R Rodriguez Clo | Officer | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cleary Gottlieb Steen Hamilton Ll Rent | 12/30/19 | $660,981 |
Cleary Gottlieb Steen Hamilton Ll Rent | 12/30/19 | $660,981 |
Cleary Gottlieb Steen Hamilton Ll Rent | 12/30/19 | $660,981 |
Skyline Technology Solutions Program Services | 12/30/19 | $147,675 |
Skyline Technology Solutions Program Services | 12/30/19 | $147,675 |
Skyline Technology Solutions Program Services | 12/30/19 | $147,675 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,540,307 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,540,307 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,904,107 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,583,155 |
| Grants and other assistance to domestic individuals. | $136,591 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $383,486 |
| Compensation of current officers, directors, key employees. | $48,235 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,998,876 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $149,916 |
| Payroll taxes | $449,749 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,776 |
| Fees for services: Accounting | $64,138 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,601 |
| Advertising and promotion | $0 |
| Office expenses | $324,477 |
| Information technology | $153,632 |
| Royalties | $0 |
| Occupancy | $1,182,440 |
| Travel | $199,449 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $105,586 |
| Interest | $15,597 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,892 |
| Insurance | $125,770 |
| All other expenses | $0 |
| Total functional expenses | $8,010,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $221,923 |
| Savings and temporary cash investments | $51,038 |
| Pledges and grants receivable | $1,211,013 |
| Accounts receivable, net | $326,886 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,284 |
| Net Land, buildings, and equipment | $1,794 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $173,305 |
| Other assets | $231,497 |
| Total assets | $2,220,740 |
| Accounts payable and accrued expenses | $2,426,184 |
| Grants payable | $0 |
| Deferred revenue | $118,191 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $777,934 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $804,400 |
| Total liabilities | $4,126,709 |
| Net assets without donor restrictions | -$1,995,011 |
| Net assets with donor restrictions | $89,042 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,220,740 |
Grants Awarded
Over the last fiscal year, Structured Employment Economic Development Corporation has awarded $3,871,095 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
Bronx, NY PURPOSE: WORKFORCE | $340,329 |
Bronx, NY PURPOSE: WORKFORCE | $340,329 |
Bronx, NY PURPOSE: WORKFORCE | $340,329 |
New York, NY PURPOSE: WORKFORCE | $320,903 |
New York, NY PURPOSE: WORKFORCE | $320,903 |
New York, NY PURPOSE: WORKFORCE | $320,903 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Structured Employment Economic Development Corporation has recieved totaling $274,401.
| Awarding Organization | Amount |
|---|---|
Memphis Bioworks Foundation Memphis, TN PURPOSE: FLOW THROUGH DOL GRANT | $112,471 |
Good Plus Foundation Inc New York, NY PURPOSE: TO PROVIDE ESSENTIAL CLOTHING, PRODUCTS AND GEAR FOR CHILDREN AND PARENTS IN NEED. | $85,639 |
Mdrc New York, NY PURPOSE: RESTRICTED PURPOSE AWARD | $66,291 |
Jobsfirstnyc New York, NY PURPOSE: SIGNATURE PROJECT | $5,000 |
Jobsfirstnyc New York, NY PURPOSE: SIGNATURE PROJECT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,288,992 | $13,702,258 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $8,485,398 | $9,681,050 |
Ridc Regional Growth Fund Pittsburgh, PA | $35,182,259 | $7,330,520 |
Greater Pittsburgh Convention & Visitors Bureau Inc Pittsburgh, PA | $7,109,092 | $5,259,727 |
Alleghenies Planning And Development Commission Altoona, PA | $18,621,233 | $8,604,095 |
Ben Franklin Technology Partners Of Northeastern Pennsylvania Inc Bethlehem, PA | $58,069,128 | $6,233,285 |
Structured Employment Economic Development Corporation New York, NY | $2,220,740 | $7,904,107 |
Insitech Inc Warren, NJ | $4,026,064 | $10,215,632 |
Pa Irc Network Foundation Williamsport, PA | $220,663 | $6,832,527 |
Pidc-Local Development Corporation Philadelphia, PA | $227,173,554 | $8,260,767 |
Delaware Valley Industrial Resource Center Philadelphia, PA | $2,089,459 | $6,508,220 |
Nybdc Local Development Corporation Albany, NY | $56,551,282 | $11,667,987 |