Structured Employment Economic Development Corporation
- Assets
- $3.4m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 70
- Location
- New York, NY
- Founding
- 01/1977
- Data as of
- 12/2021
- 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 12/2021, Seedco employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seedco is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Seedco generated $7.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $7.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Seedco has awarded 139 individual grants totaling $18,117,979. 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
2021
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Rasmussen Executive Director | Officer | 35 | $217,883 |
Walter Mack ESQ Chair | OfficerTrustee | 1 | $0 |
Lizanne Stephenson Member | Trustee | 1 | $0 |
Wilfred Renta Treasurer | OfficerTrustee | 1 | $0 |
Angel Audiffred Secretary | OfficerTrustee | 1 | $0 |
Raul Russi CEO And President | 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 |
Skyline Technology Solutions Program Services | 12/30/19 | $147,675 |
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 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,130,054 |
| All other contributions, gifts, grants, and similar amounts not included above | $647,313 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,777,367 |
| Total Program Service Revenue | $0 |
| Investment income | $87 |
| 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 | $6,983,803 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,176,595 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $226,718 |
| Compensation of current officers, directors, key employees. | $226,718 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,661,077 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $884,291 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $68,674 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $238,607 |
| Advertising and promotion | $2,957 |
| Office expenses | $456,335 |
| Information technology | $38,355 |
| Royalties | $0 |
| Occupancy | $1,008,560 |
| Travel | $98,743 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $74,119 |
| Interest | $4,740 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,236 |
| Insurance | $88,474 |
| All other expenses | $0 |
| Total functional expenses | $7,038,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,075 |
| Savings and temporary cash investments | $20,268 |
| Pledges and grants receivable | $2,482,426 |
| Accounts receivable, net | $455,432 |
| 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 | $10,475 |
| Net Land, buildings, and equipment | $345,408 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,997 |
| Total assets | $3,440,081 |
| Accounts payable and accrued expenses | $3,690,958 |
| Grants payable | $0 |
| Deferred revenue | $43,582 |
| 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 | $722,053 |
| Unsecured mortgages and notes payable | $647,400 |
| Other liabilities | $107,935 |
| Total liabilities | $5,211,928 |
| Net assets without donor restrictions | -$1,860,889 |
| 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 | $3,440,081 |
Grants Awarded
Over the last fiscal year, Structured Employment Economic Development Corporation has awarded $578,411 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Cambridge, MD PURPOSE: WORK & FAMILY | $259,205 |
TRIANGLE HEALTH ALLIANCE PURPOSE: WORK & FAMILY | $99,731 |
Baltimore, MD PURPOSE: WORK & FAMILY | $92,680 |
Elkton, MD PURPOSE: WORK & FAMILY | $78,197 |
Annapolis, MD PURPOSE: WORK & FAMILY | $26,868 |
Hancock, MD PURPOSE: WORK & FAMILY | $12,226 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Structured Employment Economic Development Corporation has recieved totaling $355,884.
| Awarding Organization | Amount |
|---|---|
Comic Relief Inc New York, NY PURPOSE: PROGRAM SUPPORT | $200,000 |
Pinkerton Foundation New York, NY PURPOSE: CAREER READINESS | $150,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $5,884 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Choose New Jersey Inc Newark, NJ | $7,145,867 | $9,053,939 |
Dauphin County Economic Development Corporation Harrisburg, PA | $8,424,591 | $10,449,757 |
Ben Franklin Technology Partners Of Northeastern Pennsylvania Inc Bethlehem, PA | $58,069,128 | $6,233,285 |
Greater Pittsburgh Convention & Visitors Bureau Inc Pittsburgh, PA | $10,210,665 | $8,196,256 |