Civic Intelligence

Seeds of Fortune Inc

EIN 46-5568476 • 501(c)3 • Brooklyn, NY

Profile

High schools scholars program is a college prep program that helps nyc hs 10th and 11th grade minority girls apply for college sholarships as well as teach professional and financial management skills. 20 scholars are selected to participate in our college prep summer boot camp.

38 Buffalo AvenueBrooklyn, NY 11233

www.seedsoffortune.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

70th percentile

0.11x

Higher debt load relative to assets than 70% of similar nonprofits.

NTEE O • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

69th percentile

0.07x

Higher debt load relative to revenue than 69% of similar nonprofits.

NTEE O • $500k-$1M nonprofits • Source year 2024

Net Margin

61st percentile

11%

Higher net margin than 61% of similar nonprofits.

NTEE O • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

48th percentile

$0

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE O • $500k-$1M nonprofits • Source year 2024

Asset Growth

78th percentile

46%

Faster asset growth than 78% of similar nonprofits.

NTEE O • $500k-$1M nonprofits • Annualized from 2022 to 2024

Revenue Growth

71st percentile

34%

Faster revenue growth than 71% of similar nonprofits.

NTEE O • $500k-$1M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$412,271

Up $219,009 (+113%) from 2022

Liabilities

Up

$44,759

Up $44,759 from 2022

Net Assets

Up

$367,512

Up $174,250 (+90%) from 2022

Operations
Liabilities / Revenue69th percentileNet Margin61st percentile

Revenue

Up

$644,084

Up $285,101 (+79%) from 2022

Expenses

Up

$570,531

Up $242,075 (+74%) from 2022

Net Income

Up

$73,553

Up $43,026 (+141%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth78th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2016: $773Liabilities 2016: $02016Assets 2021: $162,735Liabilities 2021: $0Net Assets 2021: $162,7352021Assets 2022: $193,262Liabilities 2022: $0Net Assets 2022: $193,2622022Assets 2024: $412,271Liabilities 2024: $44,759Net Assets 2024: $367,5122024

Highlighted filing

2024

Assets$412,271
Liabilities$44,759
Net Assets$367,512
Open 2024 Filing

Operations Trend

Revenue Growth71st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$800K$600K$400K$200K$0Revenue 2016: $12,860Expenses 2016: $12,086Net Income 2016: $7742016Revenue 2021: $248,071Expenses 2021: $124,882Net Income 2021: $123,1892021Revenue 2022: $358,983Expenses 2022: $328,456Net Income 2022: $30,5272022Revenue 2024: $644,084Expenses 2024: $570,531Net Income 2024: $73,5532024

Highlighted filing

2024

Revenue$644,084
Expenses$570,531
Net Income$73,553
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$412,271
Liabilities
$44,759
Net assets
$367,512
Revenue
$644,084
Expenses
$570,531
Net income
$73,553
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.12$0.45$3.68$6.44$5.71$0.74
2022Detailed filing. Detailed filing data is available for this year.$1.93$0.00$1.93$3.59$3.28$0.31
2021Detailed filing. Detailed filing data is available for this year.$1.63$0.00$1.63$2.48$1.25$1.23
2016Summary only. Only limited summary data is available for this year.$0.01$0.00$0.13$0.12$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 15, 2024
Return Version
2023v6.0
Gross Receipts
$644,084
Mission and Program Overview

Mission

High schools scholars program is a college prep program that helps nyc hs 10th and 11th grade minority girls apply for college sholarships as well as teach professional and financial management skills. 20 scholars are selected to participate in our college prep summer boot camp.

Seeds of fortune inc. Is a nonprofit edtech platform helping members on their first steps to economic security by finding affordable college options, building financial management, and career skills in a sisterly online network.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$162,513$408,159▲ $245,646
Cash and Non-Interest-Bearing Accounts$46,249$4,112▼ $42,137
Total Assets$208,762$412,271▲ $203,509
Liabilities
Accounts Payable and Accrued Expenses$9,819$44,759▲ $34,940
Total Liabilities$9,819$44,759▲ $34,940
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$233,000-
Net Assets Without Donor Restrictions$198,943$134,512▼ $64,431
Total Net Assets Fund Balance$198,943$367,512▲ $168,569
Total Liabilities and Net Assets / Fund Balance$208,762$412,271▲ $203,509
Compensation and Service Providers
Top Officer Pay48th percentile

Board Members and Trustees

NameTitle
Brooklyn White-grierAdvisory Board Member
John ChevalierAdvisory Board Member
Latoya JordanAdvisory Board Member
Niketa EasonAdvisory Board Member
Patalia TateAdvisory Board Member
Paul BonittoAdvisory Board Member
Renee WhiteAdvisory Board Member
Tracey CameronAdvisory Board Member
April DrummondBoard Member
Keisha AlleyneBoard Member
Myles OconnellBoard Member
Nitiya WalkerExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$644,084
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$73,553

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$33,500Fair Market Value
Total Noncash Contributions1$33,500-

Audited Revenue Reconciliation

Revenue per Audited Statements
$644,084
Total Revenue per Audited Statements
$644,084
Total Revenue per Form 990
$644,084
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$410,242
Salaries, Compensation, and Employee Benefits$160,289
Total Fundraising Expense$1,262
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$69,308$2,302-$71,610
Current Officers, Directors, Trustees, and Key Employees$70,759--$70,759
Travel$50,579$12,645-$63,224
Other Salaries and Wages$39,241$23,846-$63,087
Information Technology$23,642--$23,642
All Other Expenses$10,225$10,587-$20,812
Fees for Services Other$12,580$3,768-$16,348
Other Employee Benefits$13,725$2,267-$15,992
Advertising$12,107$1,500$1,262$14,869
Occupancy$3,926$7,200-$11,126
Payroll Taxes$8,940$1,511-$10,451
Insurance$2,700$555-$3,255
Other Expenses$2,345$782-$3,127
Total Functional Expenses$478,845$90,424$1,262$570,531

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$570,531
Total Expenses per Audited Statements$570,531
Total Expenses per Form 990$570,531
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“The form 990 was reviewed by all officers before filing.”

Governing documents etc available to public Part VI line 19

“The documents are filed with the irs and new york state and are available for review by accessing the website.”

Filing and Contact Details

Filer

Filer Name
Seeds of Fortune Inc
EIN
46-5568476
Address
38 BUFFALO AVENUE, BROOKLYN, NY 11233

Signing Officer

Name
Nitiya Walker
Title
Executive Direc
Phone
7187811879
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
0
Employees
2

Preparer

Firm
Janie L Bradley CPA
Address
1785 FULTON STREET, Brooklyn, NY 11233
Preparer
Janie L Bradleycpa
Phone
7182212909
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Corporation started with a cash balance of $2907.00 checking account corporation started with a cash balance of $28549.00 in savings account corporation started with a cash balance of $8090.00 in paypal account”

Balance Sheet Part X

“Adjustment to begining net assets due $95,017 due to underreported assets in prior period.”

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IRS990/ProgramServiceRevenueGrp/Desc0COLLEGE FEE
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IRS990/ProgSrvcAccomActy2Grp/Desc0INNOVATION RESEARCH SUMMER PROGRAM - HS STUDENTS WILL LEARN WHAT IT MEANS TO RUN AND LEAD A COMPANY BY CREATINF AN EXECUTIVE TEAM AND DIVIDING INTO GROUPS TO PROVIDE INSIGHTS INTO HOW CORPORATIONS CAN WORK WITH LOCAL COMMUNITIES MORE EFFECTIVELY, AS WELL AS ADVOCATE FOR LOCAL COMMUNITIES WITH OUR PARTNERS.GIRLS START UP - ONLINE BUSINESS PLAN ACCELERATOR TO INCREASE ENTREPRENEURIAL AND DIGITAL LITERACY SKILLS SETS IN PARTNERSHIP WITH WIX.COM, BMO CAPITAL MARKETS, AND MORE. COMPETE FOR AN ALL-EXPENSE PAID TRIP TRIP TO MIAMI, FL. WHERE 3 LUCKY WINNERS COULD RECEIVE UP TO $6,000 IN CAPITAL FUNDING.
IRS990/ProgSrvcAccomActy3Grp/Desc0SEED UNIVERSITY - A COLLEGE PROGRAM FOR THE GRADUATES OF OUR HIGH SCHOOL SCHOLARS AND MEMBERS TO FURTHER DEVELOP THEIR FINANCIAL AND CAREER SKILL SETS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 WAS REVIEWED BY ALL OFFICERS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DOCUMENTS ARE FILED WITH THE IRS AND NEW YORK STATE AND ARE AVAILABLE FOR REVIEW BY ACCESSING THE WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CORPORATION STARTED WITH A CASH BALANCE OF $2907.00 CHECKING ACCOUNT CORPORATION STARTED WITH A CASH BALANCE OF $28549.00 IN SAVINGS ACCOUNT CORPORATION STARTED WITH A CASH BALANCE OF $8090.00 IN PAYPAL ACCOUNT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ADJUSTMENT TO BEGINING NET ASSETS DUE $95,017 DUE TO UNDERREPORTED ASSETS IN PRIOR PERIOD.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Balance Sheet Part X
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IRS990/WebsiteAddressTxt0WWW.SEEDSOFFORTUNE.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NITIYA WALKER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIREC
ReturnHeader/BusinessOfficerGrp/PhoneNum07187811879
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SEEDS OF FORTUNE INC
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ReturnHeader/Filer/USAddress/AddressLine1Txt038 BUFFALO AVENUE
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
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