Civic Intelligence

South Eastern Economic Development Corporation

990 • Fiscal year 2025 • EIN 04-2772952

Oct 01, 2024 to Sep 30, 2025 • Filed on Jan 05, 2026

80 Dean StreetTaunton, MA 02780

(508) 822-1020

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

60th percentile

0.24x

Higher debt load relative to assets than 60% of similar nonprofits.

2025 filings • $25M-$50M nonprofits • Source year 2025

Liabilities / Revenue

84th percentile

1.35x

Higher debt load relative to revenue than 84% of similar nonprofits.

2025 filings • $25M-$50M nonprofits • Source year 2025

Net Margin

89th percentile

50%

Higher net margin than 89% of similar nonprofits.

2025 filings • $25M-$50M nonprofits • Source year 2025

Top Officer Pay

70th percentile

$308,389

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

2025 filings • $25M-$50M nonprofits • Source year 2025

Asset Growth

73rd percentile

11%

Faster asset growth than 73% of similar nonprofits.

2025 filings • $25M-$50M nonprofits • Annualized from 2024 to 2025

Revenue Growth

78th percentile

23%

Faster revenue growth than 78% of similar nonprofits.

2025 filings • $25M-$50M nonprofits • Annualized from 2024 to 2025

Assets

Up

$31,874,408

Up $3,195,821 (+11%) from 2024

Net Assets

Up

$24,378,546

Up $2,785,751 (+13%) from 2024

Liabilities

Up

$7,495,862

Up $410,070 (+5.8%) from 2024

Revenue

Up

$5,554,165

Up $1,032,882 (+23%) from 2024

Expenses

Up

$2,768,415

Up $222,497 (+8.7%) from 2024

Net Income

Up

$2,785,750

Up $810,385 (+41%) from 2024

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2011: $7,675,086Liabilities 2011: $2,068,188Net Assets 2011: $5,606,8982011Assets 2012: $7,853,252Liabilities 2012: $2,039,278Net Assets 2012: $5,813,9742012Assets 2013: $9,027,831Liabilities 2013: $2,150,754Net Assets 2013: $6,877,0772013Assets 2014: $10,511,060Liabilities 2014: $2,361,627Net Assets 2014: $8,149,4332014Assets 2015: $10,627,567Liabilities 2015: $2,324,492Net Assets 2015: $8,303,0752015Assets 2016: $10,528,423Liabilities 2016: $2,076,295Net Assets 2016: $8,452,1282016Assets 2017: $12,744,518Liabilities 2017: $3,320,534Net Assets 2017: $9,423,9842017Assets 2018: $13,667,695Liabilities 2018: $3,436,169Net Assets 2018: $10,231,5262018Assets 2019: $14,229,292Liabilities 2019: $3,458,929Net Assets 2019: $10,770,3532019Assets 2020: $14,658,726Liabilities 2020: $3,742,555Net Assets 2020: $10,916,1712020Assets 2021: $19,907,799Liabilities 2021: $3,495,329Net Assets 2021: $16,412,4702021Assets 2022: $21,191,120Liabilities 2022: $3,903,991Net Assets 2022: $17,287,1292022Assets 2023: $24,718,206Liabilities 2023: $5,100,776Net Assets 2023: $19,617,4302023Assets 2024: $28,678,587Liabilities 2024: $7,085,792Net Assets 2024: $21,592,7952024Assets 2025: $31,874,408Liabilities 2025: $7,495,862Net Assets 2025: $24,378,5462025

Highlighted filing

2025

Assets$31,874,408
Liabilities$7,495,862
Net Assets$24,378,546

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0Revenue 2011: $2,159,717Expenses 2011: $1,902,066Net Income 2011: $257,6512011Revenue 2012: $2,187,462Expenses 2012: $1,980,386Net Income 2012: $207,0762012Revenue 2013: $3,056,817Expenses 2013: $1,993,714Net Income 2013: $1,063,1032013Revenue 2014: $3,303,596Expenses 2014: $2,031,240Net Income 2014: $1,272,3562014Revenue 2015: $1,802,935Expenses 2015: $1,649,282Net Income 2015: $153,6532015Revenue 2016: $1,767,564Expenses 2016: $1,618,511Net Income 2016: $149,0532016Revenue 2017: $2,652,494Expenses 2017: $1,680,638Net Income 2017: $971,8562017Revenue 2018: $2,501,801Expenses 2018: $1,694,259Net Income 2018: $807,5422018Revenue 2019: $2,364,806Expenses 2019: $1,825,979Net Income 2019: $538,8272019Revenue 2020: $1,955,386Expenses 2020: $1,809,568Net Income 2020: $145,8182020Revenue 2021: $7,426,368Expenses 2021: $1,930,069Net Income 2021: $5,496,2992021Revenue 2022: $3,149,450Expenses 2022: $2,274,791Net Income 2022: $874,6592022Revenue 2023: $4,796,656Expenses 2023: $2,466,355Net Income 2023: $2,330,3012023Revenue 2024: $4,521,283Expenses 2024: $2,545,918Net Income 2024: $1,975,3652024Revenue 2025: $5,554,165Expenses 2025: $2,768,415Net Income 2025: $2,785,7502025

Highlighted filing

2025

Revenue$5,554,165
Expenses$2,768,415
Net Income$2,785,750
Jump To
Filing Snapshot
Filing Period
Oct 1, 2024 to Sep 30, 2025
Signed
Jan 5, 2026
Return Version
2024v5.0
Gross Receipts
$5,554,165
Mission and Program Overview

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$20,576,556$22,409,349▲ $1,832,793
Savings and Temporary Cash Investments$6,258,048$7,363,023▲ $1,104,975
Cash and Non-Interest-Bearing Accounts$634,814$762,778▲ $127,964
Land, Buildings, and Equipment, Net$758,517$728,180▼ $30,337
Accounts Receivable$343,397$420,934▲ $77,537
Pledges and Grants Receivable$93,926$178,883▲ $84,957
Prepaid Expenses and Deferred Charges$13,329$11,261▼ $2,068
Total Assets$28,678,587$31,874,408▲ $3,195,821
Liabilities
Unsecured Notes Loans Payable$3,670,874$4,424,374▲ $753,500
Mortgage Notes Payable Secured by Investment Property$3,030,137$2,618,201▼ $411,936
Accounts Payable and Accrued Expenses$331,460$331,804▲ $344
Deferred Revenue$53,320$121,483▲ $68,163
Total Liabilities$7,085,791$7,495,862▲ $410,071
Net Assets / Fund Balance
Net Assets With Donor Restrictions$16,304,146$18,434,552▲ $2,130,406
Net Assets Without Donor Restrictions$5,288,650$5,943,994▲ $655,344
Total Net Assets Fund Balance$21,592,796$24,378,546▲ $2,785,750
Total Liabilities and Net Assets / Fund Balance$28,678,587$31,874,408▲ $3,195,821

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$506,837$494,296$1,001,133
Land$210,000-$210,000
Other Land Buildings$7,212$173,614$180,826
Equipment$4,131$169,979$174,110
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Susan MurrayExecutive DiFT$292,451$15,938$308,389
Susan MurrayExecutive Director-$292,451$15,938$308,389
Lisa M HolmesSr VP LendinFT$182,194$26,320$208,514
Lisa M HolmesSr VP Lending Team-$182,194$26,320$208,514
Laurie DriscollVP CommerciaFT$177,386$11,457$188,843
Laurie DriscollVP Commercial Loan-$177,386$11,457$188,843
Angela LaperriereVP BusinessFT$169,776$8,578$178,354
Angela LaperriereVP Business Manager-$169,776$8,578$178,354
Tamarah BaconVP CommerciaFT$154,730$8,423$163,153
Tamarah BaconVP Commercial Loan-$154,730$8,423$163,153
John Silva2nd Vice CHA-$2-$2
Revenue and Support

Revenue Composition

Contributions and Grants
$2,943,367
Program Service Revenue
$2,445,060
Investment Income
$165,738
Other Revenue
$0
All Other Contributions
$89,710
Change in Net Assets
$2,785,750

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,554,165
Total Revenue per Audited Statements
$5,554,165
Total Revenue per Form 990
$5,554,165
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,271,181
Other Expenses$497,234
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,891,266$19,103-$1,910,369
Other Employee Benefits$145,624$2,147-$147,771
Payroll Taxes$144,555$1,460-$146,015
Fees for Services Other-$112,682-$112,682
Occupancy$67,739--$67,739
Pension Plan Contributions$67,026--$67,026
Interest$51,763--$51,763
Information Technology-$34,254-$34,254
Depreciation Depletion$30,335--$30,335
Fees for Services Accounting-$25,971-$25,971
Insurance$24,171--$24,171
Office Expenses$22,001--$22,001
Travel$20,595--$20,595
Fees for Services Legal-$11,703-$11,703
All Other Expenses$8,806$596-$9,402
Other Expenses$5,504--$5,504
Advertising$5,303--$5,303
Total Functional Expenses$2,560,499$207,916$0$2,768,415

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,768,415
Total Expenses per Audited Statements$2,768,415
Total Expenses per Form 990$2,768,415
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

Form 990 is delivered to the full board and the officer's committee for review

Form 990, Page 6, Part VI, Line 7A

The officer's committee has the power to appoint one or more members of the governing board

Form 990, Page 6, Part VI, Line 11B

Form 990 was reviewed by the seed board of directors in its entirety and approved.

Form 990, Page 6, Part VI, Line 12C

The seed board of directors and seed staff individually sign the agreement to the policy annually.

Form 990, Page 6, Part VI, Line 15A

The seed board of directors reviews the salary schedule, which is based on comparable positions and market salary rates, and evaluates all staff performance annually.

Form 990, Page 6, Part VI, Line 15B

The seed board of directors reviews the salary schedule, which is based on comparable positions and market salary rates, and evaluates all staff performance annually.

Form 990, Page 6, Part VI, Line 19

All documents and policies related to the organization are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
South Eastern Economic Development
EIN
04-2772952
Phone
5088221020
Address
80 DEAN STREET, TAUNTON, MA 02780

Signing Officer

Name
Susan Murray
Title
Executive Director
Phone
5088221020
Signed
2026-01-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Murray
Formed
1982
Legal Domicile
Ma
Voting Board Members
33
Independent Board Members
33
Employees
16
Volunteers
50

Preparer

Firm
Sanders Walsh & Eaton Cpas LLC
Address
PO BOX F, OSTERVILLE, MA 02655
Preparer
Roumiana S Popjeleva CPA
Phone
5084280790
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.

Form 990, Page 1, Part I, Line 6

Volunteers consist of the membmers of the small business loan committee and the loan review committee, which includes participation by board members.

Form 990, Page 2, Part III, Line 4D

OTHER PROGRAM SERVICES

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IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3ASSIST TREAS
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IRS990/Form990PartVIISectionAGrp/TitleTxt52ND VICE CHA
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17ASSIST CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt22SR VP LENDIN
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP COMMERCIA
IRS990/Form990PartVIISectionAGrp/TitleTxt24VP COMMERCIA
IRS990/Form990PartVIISectionAGrp/TitleTxt25VP BUSINESS
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt33DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt34DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt35DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt36DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt37DIRECTOR
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IRS990/MissionDesc0SEED'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.

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$31.9$7.50$24.4$5.55$2.77$2.79
2024Detailed filing. Detailed filing data is available for this year.$28.7$7.09$21.6$4.52$2.55$1.98
2023Detailed filing. Detailed filing data is available for this year.$24.7$5.10$19.6$4.80$2.47$2.33
2022Detailed filing. Detailed filing data is available for this year.$21.2$3.90$17.3$3.15$2.27$0.87
2021Detailed filing. Detailed filing data is available for this year.$19.9$3.50$16.4$7.43$1.93$5.50
2020Detailed filing. Detailed filing data is available for this year.$14.7$3.74$10.9$1.96$1.81$0.15
2019Summary only. Only limited summary data is available for this year.$14.2$3.46$10.8$2.36$1.83$0.54
2018Summary only. Only limited summary data is available for this year.$13.7$3.44$10.2$2.50$1.69$0.81
2017Summary only. Only limited summary data is available for this year.$12.7$3.32$9.42$2.65$1.68$0.97
2016Summary only. Only limited summary data is available for this year.$10.5$2.08$8.45$1.77$1.62$0.15
2015Summary only. Only limited summary data is available for this year.$10.6$2.32$8.30$1.80$1.65$0.15
2014Summary only. Only limited summary data is available for this year.$10.5$2.36$8.15$3.30$2.03$1.27
2013Summary only. Only limited summary data is available for this year.$9.03$2.15$6.88$3.06$1.99$1.06
2012Summary only. Only limited summary data is available for this year.$7.85$2.04$5.81$2.19$1.98$0.21
2011Summary only. Only limited summary data is available for this year.$7.68$2.07$5.61$2.16$1.90$0.26