SchoolSeed Foundation

EIN: 264477567 501(c)(3) Philanthropy & Grantmaking

Memphis, TN

Total Revenue
$2,826,393
Total Expenses
$5,165,739
Total Assets
$9,717,016
Net Assets
$9,402,589
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
TN
Principal Officer
Vincent McCaskill
Phone
9012071472
Tax Period
2022-01-01 to 2022-12-31

SchoolSeed Foundation, founded in 2009, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $2.8M in total revenue in fiscal year 2022. Revenue fell 37% from the prior year — a significant decline worth monitoring. Expenses of $5.2M exceeded revenue, resulting in a 83% operating deficit.

Mission

Schoolseed is an independent nonprofit organization whose mission is to support public schools in Shelby County by: (1) Raising money for programs that federal, state, and local

Program Service Accomplishments

Program 1
Expenses: $2,531,210 Revenue: $2,622,419

We are razor focused on the delivery and improved outcomes by managing a variety of services and programs for the benefit of schools, educators, students, and parents. The Foundation's mission is to...

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We are razor focused on the delivery and improved outcomes by managing a variety of services and programs for the benefit of schools, educators, students, and parents. The Foundation's mission is to secure and manage private resources for the benefit of public education, coordinate community efforts to support public education, provide development and training opportunities to teachers and administrators, and to operate and support programs in schools dedicated to accelerating student achievement. Our body of work includes, but is not limited to : fiscal management of private support for public education; teacher retention and recognition projects: school-based projects that support students, teachers, and administrators; publication of a Resource Guide for Parents; recruiting, training, and deploying reading tutors for students PK-3rd grade; supports for effective teaching; leadership training; and special projects that attend to emerging needs. Our theory of change is predicated on the idea that capacity building in schools, support for teachers and leaders, rigorous curriculum, target setting, ongoing improvement of curriculum and instruction, and promoting effective practice will accerate student and school achievement. The Foundation's theory of action calls for: the building and sustaining of a collaborative partnership with school districts and their school-based leadership; building and sustaining of a collaborative partnership with the philanthropic and business community; providing supplementary supports to students, teachers, and administrators; and tracking and monitoring the progress of projects. The Foundation seeks to increase college attendance and graduation rates-a matter of equity; access, and community developent.

Program 2
Expenses: $0 Revenue: $0

Sponsorships: support programs aimed at providing a specific initiative with funding. (5000+ persons benefited)

Program 3
Expenses: $0 Revenue: $0

School specific initiatives: support programs aimed at specified schools for the schools most immediate needs. (3000+ persons benefited)

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $2,696,156
Program Service Revenue $104,646
Investment Income $21,964
Other Revenue $3,627
TOTAL REVENUE $2,826,393

Expense Breakdown

Grants Paid $0
Salaries & Benefits $867,677
Fundraising Expenses $1,291,438
Program Expenses $2,531,210
Other Expenses $4,298,062
TOTAL EXPENSES $5,165,739

Year-over-Year Comparison

2022 2021 Change
Revenue $2,826,393 $4,454,713 -0.4%
Expenses $5,165,739 $2,295,013 +1.3%
Net Income $-2,339,346 $2,159,700 -2.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
Employees
5
Volunteers
6

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
4
$159,316
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
William Mitchell Chairman 0.00
Officer Director
$0 $0 $0
Ken Foster Treasurer 0.00
Officer Director
$0 $0 $0
Lisa Wheeler Jenkins Secretary 0.00
Officer Director
$0 $0 $0
Regina Walker Director 0.00
Director
$0 $0 $0
David Cocke Director 0.00
Director
$0 $0 $0
Beverly Cross Director 0.00
Director
$0 $0 $0
Vincent McCaskill President/ CEO 40.00
Officer
$159,316 $0 $159,316
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
2024 No data No data No data No data
2022 $2,826,393 $5,165,739 $9,717,016 $-2,339,346
2021 $4,454,713 $2,295,013 $7,252,651 $2,159,700
2020 $7,793,603 $7,395,378 $5,107,519 $398,225
2018 $990,465 $1,616,814 $1,839,835 $-626,349
2018 $1,104,873 $1,618,381 $1,840,335 $-513,508
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