Civic Intelligence

Seed Capital Kentucky Inc.

990 • Fiscal year 2016 • EIN 45-1068408

Jan 01, 2016 to Dec 31, 2016 • Filed on Jun 12, 2017

Organization ProfileWWW.SEEDCAPITALKY.ORG
200 York StreetLouisville, KY 40203

(502) 272-2423

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

1st percentile

-259%

Higher net margin than 1% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

74th percentile

$112,500

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 8.2% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

4th percentile

-62%

Faster revenue growth than 4% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets14th percentile

Assets

Down

$3,826

Down $4,060,968 (-100%) from 2015

Net Assets

Down

$3,826

Down $3,562,222 (-100%) from 2015

Liabilities

Down

$0

Down $498,746 (-100%) from 2015

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin1st percentile

Revenue

Down

$1,372,883

Down $2,278,151 (-62%) from 2015

Expenses

Up

$4,935,105

Up $4,519,570 (+1088%) from 2015

Net Income

Down

-$3,562,222

Down $6,797,721 (-210%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$6.0M$4.0M$2.0M$0Assets 2012: $47,484Liabilities 2012: $0Net Assets 2012: $47,4842012Assets 2013: $146,899Liabilities 2013: $47,725Net Assets 2013: $99,1742013Assets 2014: $89,995Liabilities 2014: $134Net Assets 2014: $89,8612014Assets 2015: $4,064,794Liabilities 2015: $498,746Net Assets 2015: $3,566,0482015Assets 2016: $3,826Liabilities 2016: $0Net Assets 2016: $3,8262016Assets 2017: $1,511Liabilities 2017: $02017

Highlighted filing

2016

Assets$3,826
Liabilities$0
Net Assets$3,826
Open 2016 Filing

Operations Trend

Revenue Growth4th percentile

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

$5.0M$0-$5.0MRevenue 2012: $271,186Expenses 2012: $223,904Net Income 2012: $47,2822012Revenue 2013: $290,741Expenses 2013: $239,051Net Income 2013: $51,6902013Revenue 2014: $277,166Expenses 2014: $286,479Net Income 2014: -$9,3132014Revenue 2015: $3,651,034Expenses 2015: $415,535Net Income 2015: $3,235,4992015Revenue 2016: $1,372,883Expenses 2016: $4,935,105Net Income 2016: -$3,562,2222016Revenue 2017: $5,000Expenses 2017: $7,315Net Income 2017: -$2,3152017

Highlighted filing

2016

Revenue$1,372,883
Expenses$4,935,105
Net Income-$3,562,222
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jun 12, 2017
Return Version
2016v3.0
Gross Receipts
$1,372,883
Mission and Program Overview

Mission

To catalyze the success and resilience of kentuckys regional agriculture and regional food economy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,744,593--
Cash and Non-Interest-Bearing Accounts$326,893$3,541▼ $323,352
Accounts Receivable$1,247--
Prepaid Expenses and Deferred Charges$5,577$285▼ $5,292
Other Assets Total$1,986,484--
Total Assets$4,064,794$3,826▼ $4,060,968
Liabilities
Accounts Payable and Accrued Expenses$492,019--
Other Liabilities$6,727--
Total Liabilities$498,746$0▼ $498,746
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,744,593--
Unrestricted Net Assets$1,821,455$3,826▼ $1,817,629
Total Net Assets Fund Balance$3,566,048$3,826▼ $3,562,222
Total Liabilities and Net Assets / Fund Balance$4,064,794$3,826▼ $4,060,968
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Caroline HeineProject DireFT$112,500$112,500

Board Members and Trustees

NameTitle
Stephen ReillyPresident
Augusta Brown HollandBoard Member
John-mark HackBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$1,372,883
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,371,833
Change in Net Assets
$-3,562,222
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,755,765
Salaries, Compensation, and Employee Benefits$179,340
Total Fundraising Expense$77,056
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$67,500$11,250$33,750$112,500
Other Salaries and Wages-$21,547$28,500$50,047
Fees for Services Management$19,449-$568$20,017
Occupancy$9,004$3,675$5,697$18,376
Payroll Taxes$4,099$3,889$5,074$13,062
All Other Expenses$2,450$7,691-$10,141
Other Expenses$7,204$1,176,604-$7,204
Fees for Services Accounting$220$6,199-$6,419
Other Employee Benefits$811$1,417$1,503$3,731
Insurance$531$2,491$356$3,378
Office Expenses$1,074$1,474$483$3,031
Conferences and Meetings$676$247$1,125$2,048
Advertising$1,283$675-$1,958
Total Functional Expenses$3,620,890$1,237,159$77,056$4,935,105
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
Lobbying 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
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
No
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 11B

“The return is reviewed by the director of finance and the project director before authorizing the filing. A copy is distributed to the entire board of directors before its filing, but responsibility for its review/approval rests primarily with management.”

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

“The compensation of the project director is reviewed annually by the board, which includes a review of known/published salaries at comparable peer institutions.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, policies, and financial statements are available to the general public upon request.”

Filing and Contact Details

Filer

Filer Name
Seed Capital Kentucky Inc
EIN
45-1068408
Phone
5022722423
Address
200 YORK STREET, LOUISVILLE, KY 40203

Signing Officer

Name
Stephen Reilly
Title
President
Phone
5025685555
Signed
2017-06-12

Organization Details

Principal Officer
Stephen Reilly
Formed
2011
Legal Domicile
Ky
Voting Board Members
4
Independent Board Members
4
Employees
4
Volunteers
200

Preparer

Firm
Baldwin Cpas Pllc
Address
943 S 1ST STREET, LOUISVILLE, KY 40203
Preparer
Barbara Lasky
Phone
5025849793
Supplemental Narrative

Additional Explanations

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

“Distribution systems. Seed capital ky's largest project was the west louisville foodport. However, once the largest tenant pulled out of the project, it was determined that the project was no longer feasible. The construction costs and other project costs have been written off during 2016.”

Raw XML Appendix325 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0SUPPORTING FARMERS. GRANTS ARE OFFERED TO SMALL FARMERS TO ENABLE THEM TO ACCESS TECHNICAL ASSISTANCE TO INCREASE THEIR CAPACITY TO GROW THEIR BUSINESSES, INCREASE SUSTAINABILITY, INCREASE ACCESS TO CAPITAL, OR OTHERWISE PLAY A LARGER OR MORE MEANINGFUL ROLE IN THE FOOD ECONOMY. TECHNICAL ASSISTANCE GRANTS COVER SUCH THINGS AS ACCOUNTING AND FINANCIAL PLANNING, BUSINESS PLANNING, MARKET DEVELOPMENT, MARKETING (INCLUDING PACKAGING AND LABEL DEVELOPMENT), FOOD SAFETY PLANNING AND PROCESS IMPLEMENTATION, LEGAL SERVICES, OR WHOLE FARM PLANNING. SUPPORTING THE LOCAL FOOD ECONOMY. SEED CAPITAL KY CONDUCTS RESEARCH AND PROVIDES OTHER SUPPORT FOR THE DEVELOPMENT AND EXPANSION OF VARIOUS FOOD BUSINESSES AND INFRASTRUCTURE, INCLUDING LOCAL FOOD AGGREGATION AND DISTRIBUTION SYSTEMS. SEED CAPITAL KY'S LARGEST PROJECT WAS THE WEST LOUISVILLE FOODPORT. HOWEVER, ONCE THE LARGEST TENANT PULLED OUT OF THE PROJECT, IT WAS DETERMINED THAT THE PROJECT WAS NO LONGER FEASIBLE. THE CONSTRUCTION COSTS AND OTHER PROJECT COSTS HAVE BEEN WRITTEN OFF DURING 2016.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DISTRIBUTION SYSTEMS. SEED CAPITAL KY'S LARGEST PROJECT WAS THE WEST LOUISVILLE FOODPORT. HOWEVER, ONCE THE LARGEST TENANT PULLED OUT OF THE PROJECT, IT WAS DETERMINED THAT THE PROJECT WAS NO LONGER FEASIBLE. THE CONSTRUCTION COSTS AND OTHER PROJECT COSTS HAVE BEEN WRITTEN OFF DURING 2016.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS REVIEWED BY THE DIRECTOR OF FINANCE AND THE PROJECT DIRECTOR BEFORE AUTHORIZING THE FILING. A COPY IS DISTRIBUTED TO THE ENTIRE BOARD OF DIRECTORS BEFORE ITS FILING, BUT RESPONSIBILITY FOR ITS REVIEW/APPROVAL RESTS PRIMARILY WITH MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION OF THE PROJECT DIRECTOR IS REVIEWED ANNUALLY BY THE BOARD, WHICH INCLUDES A REVIEW OF KNOWN/PUBLISHED SALARIES AT COMPARABLE PEER INSTITUTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01237159
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03620890
IRS990/TotalFunctionalExpensesGrp/TotalAmt04935105
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01372883
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01821455
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IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN REILLY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05025685555
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-06-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SEED CAPITAL KENTUCKY INC
ReturnHeader/Filer/BusinessNameControlTxt0SEED
ReturnHeader/Filer/EIN0451068408
ReturnHeader/Filer/PhoneNum05022722423
ReturnHeader/Filer/USAddress/AddressLine1Txt0200 YORK STREET
ReturnHeader/Filer/USAddress/CityNm0LOUISVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd040203
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId072A9AB7397B853419F7BC1FB2C0C199BD4BCD0FA
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId07D6D6337EF233A199007067B3537EBCDE1185D99
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201416603
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BALDWIN CPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0943 S 1ST STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOUISVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040203
ReturnHeader/PreparerPersonGrp/PhoneNum05025849793
ReturnHeader/PreparerPersonGrp/PreparationDt02017-06-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BARBARA LASKY
ReturnHeader/ReturnTs02017-06-13T10:57:18-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,826
Liabilities
$0
Net assets
$3,826
Revenue
$1,372,883
Expenses
$4,935,105
Net income
-$3,562,222
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Summary only. Only limited summary data is available for this year.$0.00$0.00$0.01$0.01$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.37$4.94$3.56
2015Detailed filing. Detailed filing data is available for this year.$4.06$0.50$3.57$3.65$0.42$3.24
2014Detailed filing. Detailed filing data is available for this year.$0.09$0.00$0.09$0.28$0.29$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.15$0.05$0.10$0.29$0.24$0.05
2012Summary only. Only limited summary data is available for this year.$0.05$0.00$0.05$0.27$0.22$0.05