SOUTH EASTERN ECONOMIC DEVELOPMENT… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

SUSAN MURRAY

Phone

5088221020

Tax Period

2024-10-01 to 2025-09-30

SOUTH EASTERN ECONOMIC DEVELOPMENT CORPORATION, founded in 1982, is a community nonprofit that reported $5.6M in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.8M, a strong 50% operating margin.

Mission

SEED'S MISSION IS TO ASSIST SMALL BUSINESSES TO START-UP, EXPAND AND CREATE NEW JOBS. SEED WAS CERTIFIED IN 1982 BY THE U.S. SBA TO PACKAGE SBA 504 LOANS. SEED ALSO MAKES LOANS AS A CDFI UNDER THE U.S. DEPARTMENT OF TREASURY, & EDA U.S. DEPARTMENT OF COMMERCE, AND A SBA MICRO LENDER AND PROVIDES TECHNICAL ASSISTANCE.

Program Service Accomplishments

Program 1

Expenses: $301,328 Revenue: $1,091,157

5SBA 504 PROGRAM: PACKAGING, CLOSING AND SERVICING OF SBA 504 LOANS TO SMALL BUSINESS IN MASSACHUSETTS AND RHODE ISLAND.

Program 2

Expenses: $804,243 Revenue: $170,477

MICRO LOAN PROGRAM INCLUDING SBA MICRO LOANS AND TECHNICAL ASSISTANCE AND MA TECHNICAL ASSISTANCE. UNDERWRITING, CLOSING AND SERVICING OF LOANS UP TO 50,000 TO SMALL BUSINESSES FOR WORKING CAPITAL...

MICRO LOAN PROGRAM INCLUDING SBA MICRO LOANS AND TECHNICAL ASSISTANCE AND MA TECHNICAL ASSISTANCE. UNDERWRITING, CLOSING AND SERVICING OF LOANS UP TO 50,000 TO SMALL BUSINESSES FOR WORKING CAPITAL FURNITURE AND FIXTURES AND EQUIPMENT. ADMINISTRATION OF TECHNICAL ASSISTANCE PROGRAM FOR START-UP AND EXISTING SMALL BUSINESSES IN CONJUNCTION WITH THE SBA MICRO LOAN PROGRAM. THEPROGRAM INCLUDES EIGHT COUNTIES FROM BOSTON TO THE CAPE AND ISLANDS IN MASSACHUSETTS, AND ALL OF RHODE ISLAND.

Program 3

Expenses: $1,418,434 Revenue: $1,147,395

REVOLVING LOAN FUND PROGRAM: UNDERWRITING, CLOSING AND SERVICING OF LOANS UP TO 200,000 UNDER THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION (EDA) REVOLVING LOAN FUND PROGRAM AND THE COMMUNITY...

REVOLVING LOAN FUND PROGRAM: UNDERWRITING, CLOSING AND SERVICING OF LOANS UP TO 200,000 UNDER THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION (EDA) REVOLVING LOAN FUND PROGRAM AND THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION FUND (CDFI) UNDER THE U.S. DEPARTMENT OF TREASURY, AND SEED FUND AND RI FUND. THESE LOANS ARE MADE IN CONJUNCTION WITH BANK AND OTHER FINANCING TO SMALL BUSINESSES IN SOUTHEASTERN MASSACHUSETTS AND RHODE ISLAND.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,943,367

Program Service Revenue $2,445,060

Investment Income $165,738

Other Revenue $0

TOTAL REVENUE $5,554,165

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,271,181

Fundraising Expenses $0

Program Expenses $2,560,499

Other Expenses $497,234

TOTAL EXPENSES $2,768,415

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,554,165	$4,521,283	+0.2%
Expenses	$2,768,415	$2,545,918	+0.1%
Net Income	$2,785,750	$1,975,365	+0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES DWYER	PAST CHAIR	1.00	Officer Director	$0	$0	$0
CARL W TABER	CHAIR	2.00	Officer Director	$0	$0	$0
LORRAINE TRAVERS	TREASURER	2.00	Officer Director	$0	$0	$0
EDWARD F SOUSA	ASSIST TREAS	2.00	Officer Director	$0	$0	$0
CATHERINE FEERICK	1ST VICE CHA	2.00	Officer Director	$0	$0	$0
JOHN SILVA	2ND VICE CHA	2.00	Officer Director	$2	$0	$2
WILLIAM ASH JR	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD SHAFER	CLERK	2.00	Director	$0	$0	$0
DEBORAH PANNULLO	DIRECTOR	1.00	Director	$0	$0	$0
KEITH BROYLES	DIRECTOR	1.00	Director	$0	$0	$0
JOHNNY CHARLES	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER COONEY	DIRECTOR	1.00	Director	$0	$0	$0
BRADFORD P EGAN	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK J GAUGHAN	DIRECTOR	1.00	Director	$0	$0	$0
MARIA GOOCH-SMITH	DIRECTOR	1.00	Director	$0	$0	$0
JAMES HANLON	DIRECTOR	1.00	Director	$0	$0	$0
JAMES HORRIGAN	DIRECTOR	1.00	Director	$0	$0	$0
CHERYL MCCORMICK	ASSIST CLERK	2.00	Director	$0	$0	$0
PAUL S MEDEIROS	DIRECTOR	1.00	Director	$0	$0	$0
APRIL LYNCH	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN GRIFFIN	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN MURRAY	EXECUTIVE DI	40.00	Highest	$292,451	$15,938	$308,389
LISA M HOLMES	SR VP LENDIN	40.00	Highest	$182,194	$26,320	$208,514
LAURIE DRISCOLL	VP COMMERCIA	40.00	Highest	$177,386	$11,457	$188,843
TAMARAH BACON	VP COMMERCIA	40.00	Highest	$154,730	$8,423	$163,153
ANGELA LAPERRIERE	VP BUSINESS	40.00	Highest	$169,776	$8,578	$178,354
REBECCA COLLINS	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH ORLANDO	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL O'SULLIVAN	DIRECTOR	1.00	Director	$0	$0	$0
CRYSTAL DACRUZ	DIRECTOR	1.00	Director	$0	$0	$0
DORIS DE LOS SANTOS	DIRECTOR	1.00	Director	$0	$0	$0
ALLYSON BRAINSON	DIRECTOR	1.00	Director	$0	$0	$0
PAMELA LABRECHE	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN PECK	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY PINEAULT	DIRECTOR	1.00	Director	$0	$0	$0
PAUL RUOCCO	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES DEBEVOISE	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL BARRETT	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$5,554,165	$2,768,415	$31,874,408	$2,785,750
2024	$4,521,283	$2,545,918	$28,678,587	$1,975,365
2023	$4,796,656	$2,466,355	$24,718,206	$2,330,301
2022	$3,149,450	$2,274,791	$21,191,120	$874,659
2021	$7,426,368	$1,930,069	$19,907,799	$5,496,299
2020	$1,955,386	$1,809,568	$14,658,726	$145,818

SOUTH EASTERN ECONOMIC DEVELOPMENT CORPORATION