Civic Intelligence

Seed Energy Inc.

990 • Fiscal year 2015 • EIN 46-3217105

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 14, 2016

92 CONSELYEA STREET Suite 2BBrooklyn, NY 11211

(415) 500-1416

Siviq Scores

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

Liabilities / Assets

45th percentile

0.07x

Higher debt load relative to assets than 45% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

73rd percentile

0.39x

Higher debt load relative to revenue than 73% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

2nd percentile

-133%

Higher net margin than 2% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

79th percentile

$130,000

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 47.0% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

6th percentile

-20%

Faster asset growth than 6% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

2nd percentile

-74%

Faster revenue growth than 2% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,470,030

Down $369,324 (-20%) from 2014

Net Assets

Down

$1,362,912

Down $368,443 (-21%) from 2014

Liabilities

Down

$107,118

Down $881 (-0.8%) from 2014

Revenue

Down

$276,426

Down $769,905 (-74%) from 2014

Expenses

Up

$644,869

Up $160,638 (+33%) from 2014

Net Income

Down

-$368,443

Down $930,543 (-166%) from 2014

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2013: $1,255,286Liabilities 2013: $86,031Net Assets 2013: $1,169,2552013Assets 2014: $1,839,354Liabilities 2014: $107,999Net Assets 2014: $1,731,3552014Assets 2015: $1,470,030Liabilities 2015: $107,118Net Assets 2015: $1,362,9122015Assets 2016: $1,259,760Liabilities 2016: $104,730Net Assets 2016: $1,155,0302016Assets 2017: $884,170Liabilities 2017: $37,140Net Assets 2017: $847,0302017Assets 2018: $805,007Liabilities 2018: $3,449Net Assets 2018: $801,5582018Assets 2019: $759,742Liabilities 2019: $19,492Net Assets 2019: $740,2502019Assets 2020: $575,503Liabilities 2020: $116Net Assets 2020: $575,3872020Assets 2023: $502,244Liabilities 2023: $201Net Assets 2023: $502,0432023Assets 2024: $491,442Liabilities 2024: $164Net Assets 2024: $491,2782024

Highlighted filing

2015

Assets$1,470,030
Liabilities$107,118
Net Assets$1,362,912

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2013: $1,350,878Expenses 2013: $181,623Net Income 2013: $1,169,2552013Revenue 2014: $1,046,331Expenses 2014: $484,231Net Income 2014: $562,1002014Revenue 2015: $276,426Expenses 2015: $644,869Net Income 2015: -$368,4432015Revenue 2016: $372,404Expenses 2016: $574,611Net Income 2016: -$202,2072016Revenue 2017: $148,758Expenses 2017: $456,758Net Income 2017: -$308,0002017Revenue 2018: $61,309Expenses 2018: $106,781Net Income 2018: -$45,4722018Revenue 2019: $39,637Expenses 2019: $100,945Net Income 2019: -$61,3082019Revenue 2020: $41,314Expenses 2020: $206,177Net Income 2020: -$164,8632020Revenue 2023: $42Expenses 2023: $16,839Net Income 2023: -$16,7972023Revenue 2024: $2Expenses 2024: $10,767Net Income 2024: -$10,7652024

Highlighted filing

2015

Revenue$276,426
Expenses$644,869
Net Income-$368,443
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 14, 2016
Return Version
2015v2.1
Gross Receipts
$276,426
Mission and Program Overview

Mission

To provide hospitals, schools, and other critical services organizations in impoverished and rural areas with access to reliable and renewable energy.

To promote access to reliable and affordable energy by providing technology solutions, related advisory, financial construction, operational and maintenance services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$811,865$643,220▼ $168,645
Savings and Temporary Cash Investments$842,612$555,400▼ $287,212
Investments Program Related$145,000$145,000→ $0
Other Notes and Loans Receivable, Net$28,486$85,476▲ $56,990
Accounts Receivable$2,519$20,064▲ $17,545
Prepaid Expenses and Deferred Charges$5,568$10,943▲ $5,375
Land, Buildings, and Equipment, Net$654$7,277▲ $6,623
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,839,354$1,470,030▼ $369,324
Other Assets Total$2,650$2,650→ $0
Liabilities
Accounts Payable and Accrued Expenses$85,282$63,602▼ $21,680
Unsecured Notes Loans Payable$22,717$43,516▲ $20,799
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$107,999$107,118▼ $881
Net Assets / Fund Balance
Unrestricted Net Assets$1,731,355$1,337,912▼ $393,443
Temporarily Rstr Net Assets$0$25,000▲ $25,000
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$1,731,355$1,362,912▼ $368,443
Total Liabilities and Net Assets / Fund Balance$1,839,354$1,470,030▼ $369,324

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,277$722$7,999
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Andrew MoonSecretaryFT$130,000$130,000
Jason GrayTreasurerPT$121,600$121,600

Board Members and Trustees

NameTitle
Ahmad ChatilaDirector
Mike LordDirector
Tom HockinDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$269,549
Program Service Revenue
$0
Investment Income
$2,531
Other Revenue
$4,346
All Other Contributions
$269,549
Change in Net Assets
$-368,443
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$424,274
Other Expenses$169,628
Total Fundraising Expense$55,972
Grants and Similar Amounts Paid$50,967
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$201,280$25,160$25,160$251,600
Other Salaries and Wages$108,161$13,520$13,520$135,201
Foreign Grants$50,967--$50,967
Travel$36,218-$4,024$40,242
Fees for Services Accounting$2,951$26,025$338$29,314
Fees for Services Other$28,390--$28,390
Occupancy$1,496$18,983$5,760$26,239
Payroll Taxes$17,824$2,227$2,227$22,278
Office Expenses$1,866$12,934$1,089$15,889
Other Employee Benefits$12,155$1,520$1,520$15,195
Insurance$436$3,492$436$4,364
Depreciation Depletion-$687-$687
Other Expenses$40$320$40$400
Advertising$104-$156$260
Total Functional Expenses$481,479$107,418$55,972$644,869
International Activity

International Summary

Spending
$50,967

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AsiaProgram ServicesSee Part V--$50,967
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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 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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Part VI, Section B. - Line 11B

The board of directors is provided with a copy of the form 990 prior to filing.

Part VI, Section B. - Line 12C

Upon election or appointment, all directors and officers shall disclose any position that may pose a potential conflict of interest. Such disclosures are to be updated regularly. Each director or officer shall annually sign a statement affirming they have received a copy of the conflicts of interest policy and understand the company is charitable and in order to maintain its federal tax exempt status it must engage primarily in activities which accomplish one or more of its tax exempt purposes upon any disclosure, the board of directors will review and determine whether or not an actual conflict of interest exists. If a potential conflict is determined, the decision with respect to whether or not to allow the transaction or arrangement is made by a majority vote of all disinterested directors.

Part VI, Section B. - Line 15A

(a) advanced review - the board or compensation committee shall review and approve compensation arrangements in advance, provided that persons with a conflict of interest with respect to a given compensation arrangement do not participate in the review or approval of such compensation. (b) comparability data - to determine reasonable compensation, the board or compensation committee shall obtain and rely on appropriate comparability data, including, but not limited to: a. Compensation levels paid by similarly situated nonprofit organizations, for functionally comparable positions; b. The availability of similar services in the geographic areas of the organization; c. Current compensation surveys compiled by independent firms; and d. Actual written offers from similar organizations competing for the services of the person. (c)contemporaneous documentation - the board or compensation committee shall contemporaneously document the basis for its compensation determination, including documenting: a. The agreement upon terms and date of approval; b. The members of the board or compensation committee who: i. Were present during debate on the compensation arrangement and ii. Voted on the compensation arrangement; iii. The comparability data obtained and relied upon and how much such data was obtained; and iv. Any actions taken with respect to consideration of the compensation arrangement by anyone who is otherwise a member of the board or compensation committee but had a conflict of interest with respect to such compensation arrangement. C. Qualifications and experience of the employee. Further, seed will elect 2 additional independent and non-compensated directors to the board in the near term. All non-interested and non-compensated directors (i.e., 3 out of 5 total board members) will vote on renewing initial 1 year employment contracts for officers and highest compensated employees. Part vi, section b. - line 15b (a) advanced review - the board or compensation committee shall review and approve compensation arrangements in advance, provided that persons with a conflict of interest with respect to a given compensation arrangement do not participate in the review or approval of such compensation (b) comparability data - to determine reasonable compensation, the board or compensation committee shall obtain and rely on appropriate comparability data, including, but not limited to: a. Compensation levels paid by similarly situated nonprofit organizations, for functionally comparable positions; b. The availability of similar services in the geographic areas of the organization; c. Current compensation surveys compiled by independent firms; and d. Actual written offers from similar organizations competing for the services of the person (c)contemporaneous documentation - the board or compensation committee shall contemporaneously document the basis for its compensation determination, including documenting: a. The agreement upon terms and date of approval; b. The members of the board or compensation committee who: i. Were present during debate on the compensation arrangement and ii. Voted on the compensation arrangement; iii. The comparability data obtained and relied upon and how much such data was obtained; and iv. Any action take with respect to consideration of the compensation arrangement by anyone who is otherwise a member of the board or compensation committee but had a conflict of interest with respect to such compensation arrangement. C. Qualifications and experience of the employee further, seed will elect 2 additional independent and non-compensated directors to the board in the near term. All non-interested and non-compensated directors (i.e., 3 out of 5 total board members) will vote on renewing initial 1 year employment contracts for officers and highest compensated employees.

Part VI, Section C. - Line 19

Governing documents and conflict of interest policy and included in the form 1023 application which is available upon request.

Filing and Contact Details

Filer

Filer Name
SEED Energy Inc
EIN
46-3217105
In Care Of
% ANDREW MOON
Phone
4155001416
Address
92 CONSELYEA STREET Suite 2B, BROOKLYN, NY 11211
Doing Business As
SunFarmer

Signing Officer

Name
Andrew Moon
Title
Secretary
Phone
4155001416
Signed
2016-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
andrew moon
Formed
2013
Legal Domicile
De
Voting Board Members
5
Independent Board Members
3
Employees
6
Volunteers
10

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY L
Address
ONE BATTERY PARK PLAZA, NEW YORK, NY 10004-1405
Preparer
James J Reilly
Phone
2126617777
Supplemental Narrative

Additional Explanations

Part III - Line 1

TO PROMOTE ACCESS TO RELIABLE AND AFFORDABLE ENERGY BY PROVIDING TECHNOLOGY SOLUTIONS, RELATED ADVISORY, FINANCIAL CONSTRUCTION, OPERATIONAL AND MAINTENANCE SERVICES. IN ADDITION, TO BUILD A SCALABLE MODEL FOR DELIVERING SOLAR ENERGY TO HOSPITALS, SCHOOLS, businesses and other organizations AROUND THE WORLD. PART VI, SECTION A. - LINE 7B THE FOLLOWING GOVERNANCE DECISIONS REQUIRE APPROVAL FROM THE SUNEDISON FOUNDATION DIRECTOR (AHMAD CHATILA) (A) TRANSFER, SALE, LICENSING OR SUB-LICENSING OF INTELLECTUAL PROPERTY OR OTHER MATERIAL ASSETS OF THE GRANTEE OUTSIDE OF THE ORDINARY COURSE OF BUSINESS. (B) PAYMENT BY THE GRANTEE TO ANY PAYEE OR GROUP OF RELATED PAYEES OF AGGREGATE VALUE EQUAL TO OR GREATER THAN $100,000, (C) ENTRY INTO CONTRACTS WITH ANY COUNTERPARTY OR GROUP OF RELATED COUNTERPARTIES OF AGGREGATE VALUE EQUAL TO OR GREATER THAN $250,000, (D)ENTRY BY THE GRANTEE INTO NEW GEOGRApHIES AND MARKETS FOR THE DEVELOPMENT OR RENEWABLE ENERGY PROJECTS, (E) ASSUMPTION OF, ENDORSEMENT OF, PROVISION OF, COLLATERAL FOR, INCURRENCE OR GUARANTEE OF, ACTING AS SURETY FOR, OR BECOMING LIABLE FOR ANY INDEBTEDNESS FOR BORROWED MONEY ON BEHALF OF THE GRANTEE, GRANTING ANY GUARANTEE OF THIRD PARTY OBLIGATIONS OUTSIDE OF THE ORDINARY COURSE OF BUSINESS, OR ANY REFINANCING OR MATERIAL MODIFICATION OF THE TERMS OF ANY SUCH INDEBTedNESS OR GUARANTEES OF THE GRANTEE IN EXCESS OF $25,000 IN EACH CASE, (F) SALE, EXCHANGE, LEASE, MORTGAGE, PLEDGE OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE GRANTEE IN A SINGLE TRANSACTION OR A SERIES OF RELATED TRANSACTIONS, (G) TERMINATION, DISSOLUTION OR WINDING-UP OF THE GRANTEE, (H) APPROVAL OF A MERGER OR CONSOLIDATION OF THE GRANTEE WITH OR INTO ANOTHER ENTITY OF THE ACQUISITION BY THE GRANTEE OF ANOTHER BUSINESS (EITHER BY ASSET, STOCK, OR INTEREST PURCHASE) OR ANY EQUITY OF ANOTHER ENTITY, (I) ACTION CAUSING THE GRANTEE TO BECOME A FOR-PROFIT COMPANY OR TO OTHERWISE LOSE ITS TAX-EXEMPT STATUS, AND (J) MAKING ANY LOAN TO ANY EMPLOYEE OF THE GRANTEE.

Financial Statement Notes

Part V - Line 4

Temporarily restricted net assets represent contributions that are restricted by the donor for a specific purpose or relate to future periods. Once that specific purpose has been met or the time restriction expires, the funds are released from restriction.

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IRS990/OtherExpensesGrp/Desc1MEALS AND ENTERTAINMENT
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IRS990/PayrollTaxesGrp/FundraisingAmt02227
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IRS990/PayrollTaxesGrp/ProgramServicesAmt017824
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0842612
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IRS990ScheduleA/First5Years170Ind0X
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01036097
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Temporarily restricted net assets represent contributions that are restricted by the donor for a specific purpose or relate to future periods. Once that specific purpose has been met or the time restriction expires, the funds are released from restriction.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V - LINE 4
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IRS990ScheduleD/TotalBookValueProgramRltdAmt0145000
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0South Asia
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0SEE PART V
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Program Services
IRS990ScheduleF/BoycottCountriesInd0false
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0IDENTIFYING PROJECTS, (HOSPITALS, SCHOOLS, ETC.) LOCAL INSTALLATION, MAINTENANCE PARTNERS, AND TECHNOLOGY DEVELOPMENT MONITORING.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I - LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROMOTE ACCESS TO RELIABLE AND AFFORDABLE ENERGY BY PROVIDING TECHNOLOGY SOLUTIONS, RELATED ADVISORY, FINANCIAL CONSTRUCTION, OPERATIONAL AND MAINTENANCE SERVICES. IN ADDITION, TO BUILD A SCALABLE MODEL FOR DELIVERING SOLAR ENERGY TO HOSPITALS, SCHOOLS, businesses and other organizations AROUND THE WORLD. PART VI, SECTION A. - LINE 7B THE FOLLOWING GOVERNANCE DECISIONS REQUIRE APPROVAL FROM THE SUNEDISON FOUNDATION DIRECTOR (AHMAD CHATILA) (A) TRANSFER, SALE, LICENSING OR SUB-LICENSING OF INTELLECTUAL PROPERTY OR OTHER MATERIAL ASSETS OF THE GRANTEE OUTSIDE OF THE ORDINARY COURSE OF BUSINESS. (B) PAYMENT BY THE GRANTEE TO ANY PAYEE OR GROUP OF RELATED PAYEES OF AGGREGATE VALUE EQUAL TO OR GREATER THAN $100,000, (C) ENTRY INTO CONTRACTS WITH ANY COUNTERPARTY OR GROUP OF RELATED COUNTERPARTIES OF AGGREGATE VALUE EQUAL TO OR GREATER THAN $250,000, (D)ENTRY BY THE GRANTEE INTO NEW GEOGRApHIES AND MARKETS FOR THE DEVELOPMENT OR RENEWABLE ENERGY PROJECTS, (E) ASSUMPTION OF, ENDORSEMENT OF, PROVISION OF, COLLATERAL FOR, INCURRENCE OR GUARANTEE OF, ACTING AS SURETY FOR, OR BECOMING LIABLE FOR ANY INDEBTEDNESS FOR BORROWED MONEY ON BEHALF OF THE GRANTEE, GRANTING ANY GUARANTEE OF THIRD PARTY OBLIGATIONS OUTSIDE OF THE ORDINARY COURSE OF BUSINESS, OR ANY REFINANCING OR MATERIAL MODIFICATION OF THE TERMS OF ANY SUCH INDEBTedNESS OR GUARANTEES OF THE GRANTEE IN EXCESS OF $25,000 IN EACH CASE, (F) SALE, EXCHANGE, LEASE, MORTGAGE, PLEDGE OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE GRANTEE IN A SINGLE TRANSACTION OR A SERIES OF RELATED TRANSACTIONS, (G) TERMINATION, DISSOLUTION OR WINDING-UP OF THE GRANTEE, (H) APPROVAL OF A MERGER OR CONSOLIDATION OF THE GRANTEE WITH OR INTO ANOTHER ENTITY OF THE ACQUISITION BY THE GRANTEE OF ANOTHER BUSINESS (EITHER BY ASSET, STOCK, OR INTEREST PURCHASE) OR ANY EQUITY OF ANOTHER ENTITY, (I) ACTION CAUSING THE GRANTEE TO BECOME A FOR-PROFIT COMPANY OR TO OTHERWISE LOSE ITS TAX-EXEMPT STATUS, AND (J) MAKING ANY LOAN TO ANY EMPLOYEE OF THE GRANTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS PROVIDED WITH A COPY OF THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON ELECTION OR APPOINTMENT, ALL DIRECTORS AND OFFICERS SHALL DISCLOSE ANY POSITION THAT MAY POSE A POTENTIAL CONFLICT OF INTEREST. SUCH DISCLOSURES ARE TO BE UPDATED REGULARLY. EACH DIRECTOR OR OFFICER SHALL ANNUALLY SIGN A STATEMENT AFFIRMING THEY HAVE RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY AND UNDERSTAND THE COMPANY IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPT STATUS IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX EXEMPT PURPOSES UPON ANY DISCLOSURE, THE BOARD OF DIRECTORS WILL REVIEW AND DETERMINE WHETHER OR NOT AN ACTUAL CONFLICT OF INTEREST EXISTS. IF A POTENTIAL CONFLICT IS DETERMINED, THE DECISION WITH RESPECT TO WHETHER OR NOT TO ALLOW THE TRANSACTION OR ARRANGEMENT IS MADE BY A MAJORITY VOTE OF ALL DISINTERESTED DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3(A) ADVANCED REVIEW - THE BOARD OR COMPENSATION COMMITTEE SHALL REVIEW AND APPROVE COMPENSATION ARRANGEMENTS IN ADVANCE, PROVIDED THAT PERSONS WITH A CONFLICT OF INTEREST WITH RESPECT TO A GIVEN COMPENSATION ARRANGEMENT DO NOT PARTICIPATE IN THE REVIEW OR APPROVAL OF SUCH COMPENSATION. (B) COMPARABILITY DATA - TO DETERMINE REASONABLE COMPENSATION, THE BOARD OR COMPENSATION COMMITTEE SHALL OBTAIN AND RELY ON APPROPRIATE COMPARABILITY DATA, INCLUDING, BUT NOT LIMITED TO: A. COMPENSATION LEVELS PAID BY SIMILARLY SITUATED NONPROFIT ORGANIZATIONS, FOR FUNCTIONALLY COMPARABLE POSITIONS; B. THE AVAILABILITY OF SIMILAR SERVICES IN THE GEOGRAPHIC AREAS OF THE ORGANIZATION; C. CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT FIRMS; AND D. ACTUAL WRITTEN OFFERS FROM SIMILAR ORGANIZATIONS COMPETING FOR THE SERVICES OF THE PERSON. (C)CONTEMPORANEOUS DOCUMENTATION - THE BOARD OR COMPENSATION COMMITTEE SHALL CONTEMPORANEOUSLY DOCUMENT THE BASIS FOR ITS COMPENSATION DETERMINATION, INCLUDING DOCUMENTING: A. THE AGREEMENT UPON TERMS AND DATE OF APPROVAL; B. THE MEMBERS OF THE BOARD OR COMPENSATION COMMITTEE WHO: I. WERE PRESENT DURING DEBATE ON THE COMPENSATION ARRANGEMENT AND II. VOTED ON THE COMPENSATION ARRANGEMENT; III. THE COMPARABILITY DATA OBTAINED AND RELIED UPON AND HOW MUCH SUCH DATA WAS OBTAINED; AND IV. ANY ACTIONS TAKEN WITH RESPECT TO CONSIDERATION OF THE COMPENSATION ARRANGEMENT BY ANYONE WHO IS OTHERWISE A MEMBER OF THE BOARD OR COMPENSATION COMMITTEE BUT HAD A CONFLICT OF INTEREST WITH RESPECT TO SUCH COMPENSATION ARRANGEMENT. C. QUALIFICATIONS AND EXPERIENCE OF THE EMPLOYEE. FURTHER, SEED WILL ELECT 2 ADDITIONAL INDEPENDENT AND NON-COMPENSATED DIRECTORS TO THE BOARD IN THE NEAR TERM. ALL NON-INTERESTED AND NON-COMPENSATED DIRECTORS (I.E., 3 OUT OF 5 TOTAL BOARD MEMBERS) WILL VOTE ON RENEWING INITIAL 1 YEAR EMPLOYMENT CONTRACTS FOR OFFICERS AND HIGHEST COMPENSATED EMPLOYEES. PART VI, SECTION B. - LINE 15B (A) ADVANCED REVIEW - THE BOARD OR COMPENSATION COMMITTEE SHALL REVIEW AND APPROVE COMPENSATION ARRANGEMENTS IN ADVANCE, PROVIDED THAT PERSONS WITH A CONFLICT OF INTEREST WITH RESPECT TO A GIVEN COMPENSATION ARRANGEMENT DO NOT PARTICIPATE IN THE REVIEW OR APPROVAL OF SUCH COMPENSATION (B) COMPARABILITY DATA - TO DETERMINE REASONABLE COMPENSATION, THE BOARD OR COMPENSATION COMMITTEE SHALL OBTAIN AND RELY ON APPROPRIATE COMPARABILITY DATA, INCLUDING, BUT NOT LIMITED TO: A. COMPENSATION LEVELS PAID BY SIMILARLY SITUATED NONPROFIT ORGANIZATIONS, FOR FUNCTIONALLY COMPARABLE POSITIONS; B. THE AVAILABILITY OF SIMILAR SERVICES IN THE GEOGRAPHIC AREAS OF THE ORGANIZATION; C. CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT FIRMS; AND D. ACTUAL WRITTEN OFFERS FROM SIMILAR ORGANIZATIONS COMPETING FOR THE SERVICES OF THE PERSON (C)CONTEMPORANEOUS DOCUMENTATION - THE BOARD OR COMPENSATION COMMITTEE SHALL CONTEMPORANEOUSLY DOCUMENT THE BASIS FOR ITS COMPENSATION DETERMINATION, INCLUDING DOCUMENTING: A. THE AGREEMENT UPON TERMS AND DATE OF APPROVAL; B. THE MEMBERS OF THE BOARD OR COMPENSATION COMMITTEE WHO: I. WERE PRESENT DURING DEBATE ON THE COMPENSATION ARRANGEMENT AND II. VOTED ON THE COMPENSATION ARRANGEMENT; III. THE COMPARABILITY DATA OBTAINED AND RELIED UPON AND HOW MUCH SUCH DATA WAS OBTAINED; AND IV. ANY ACTION TAKE WITH RESPECT TO CONSIDERATION OF THE COMPENSATION ARRANGEMENT BY ANYONE WHO IS OTHERWISE A MEMBER OF THE BOARD OR COMPENSATION COMMITTEE BUT HAD A CONFLICT OF INTEREST WITH RESPECT TO SUCH COMPENSATION ARRANGEMENT. C. QUALIFICATIONS AND EXPERIENCE OF THE EMPLOYEE FURTHER, SEED WILL ELECT 2 ADDITIONAL INDEPENDENT AND NON-COMPENSATED DIRECTORS TO THE BOARD IN THE NEAR TERM. ALL NON-INTERESTED AND NON-COMPENSATED DIRECTORS (I.E., 3 OUT OF 5 TOTAL BOARD MEMBERS) WILL VOTE ON RENEWING INITIAL 1 YEAR EMPLOYMENT CONTRACTS FOR OFFICERS AND HIGHEST COMPENSATED EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AND INCLUDED IN THE FORM 1023 APPLICATION WHICH IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III - LINE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI, SECTION B. - LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI, SECTION B. - LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, SECTION B. - LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VI, SECTION C. - LINE 19
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