2025-11-13T10:30:44-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 10700 NORTHUP WAY SUITE 200 BELLEVUE WA 98004 990 2024-01-01 910947619 SOUTHEAST EFFECTIVE DEVELOPMENT SOUT 2067237333 5117 RAINIER AVE S SEATTLE WA 98118 MICHAEL SEIWERATH EXECUTIVE DIRECTOR 2067237333 2025-11-10 1 1 KURT BENNION CPA P01469618 4252506100 2025-11-10 2024 2025-03-06 01:10:19Z MICHAEL SEIWERATH 5117 RAINIER AVE S SEATTLE WA 98118 15917095 0 X WWW.SEEDSEATTLE.ORG X 1975 WA SOUTHEAST EFFECTIVE DEVELOPMENT ("SEED") IS A NOT-FOR-PROFIT COMMUNITY DEVELOPMENT CORPORATION THAT INVESTS IN THE FUTURE OF SOUTHEAST SEATTLE BY FACILITATING SOCIAL, ECONOMIC, HOUSING AND CULTURAL PROGRAMS WITHIN THE COMMUNITY. FOUNDED IN 1975, SEED WORKS TO STRENGTHEN AND REVITALIZE THE NEIGHBORHOODS AND BUSINESS DISTRICTS OF SOUTHEAST SEATTLE. 14 14 42 42 0 0 1974854 6438289 8553569 9373554 1847396 320586 3446859 -272329 15822678 15860100 0 0 0 0 2372166 2885514 0 0 141553 13384961 13138475 15757127 16023989 65551 -163889 68410013 75080122 72706087 79540085 -4296074 -4459963 X SOUTHEAST EFFECTIVE DEVELOPMENT ("SEED") IS A NOT-FOR-PROFIT COMMUNITY DEVELOPMENT CORPORATION THAT INVESTS IN THE FUTURE OF SOUTHEAST SEATTLE BY FACILITATING SOCIAL, ECONOMIC, HOUSING AND CULTURAL PROGRAMS WITHIN THE COMMUNITY. FOUNDED IN 1975, SEED WORKS TO STRENGTHEN AND REVITALIZE THE NEIGHBORHOODS AND BUSINESS DISTRICTS OF SOUTHEAST SEATTLE. 0 0 13104476 0 8964925 AFFORDABLE HOUSING: SEED'S AFFORDABLE HOUSING PROGRAM WAS INITIATED IN 1986 AS PART OF A COMPREHENSIVE APPROACH TO COMMUNITY REVITALIZATION IN SOUTH EAST SEATTLE. SINCE THEN, SEED HAS REDEVELOPED AND CONSTRUCTED OVER 1,000 UNITS OF MULTI-FAMILY UTILIZING FEDERAL HOUSING TAX CREDITS. STATE TAX-EXEMPT BONDS AND OTHER PUBLIC/PRIVATE PARTNERSHIPS. SEED HAS INCREASED THE AVAILABILITY OF DECENT AFFORDABLE HOUSING TO SENIORS, PEOPLE WITH DISABILITIES, AND FAMILIES/INDIVIDUALS WITH LIMITED INCOME. 1419478 0 136300 SEEDARTS BUILDS COMMUNITY BY PRESENTING DIVERSE ARTS EXPERIENCES, NURTURING LOCAL ARTISTS, AND INFUSING CREATIVITY INTO OUR NEIGHBORHOODS. WE OFFER VISUAL, PERFORMING, MEDIA, AND PUBLIC ART PROGRAMS IN SOUTHEAST SEATTLE THAT SUPPORT AND SUSTAIN ARTISTS, INSPIRE AND CONNECT RESIDENTS, AND REVITALIZE COMMUNITY.OUR PROGRAMS FOCUS ON:-CURATING, FACILITATING AND PROMOTING ARTS AND CULTURAL EXPERIENCES, ESPECIALLY THOSE CREATED BY UNDER-REPRESENTED VOICES AND YOUTH;-PRESERVING AND GROWING VENUES AND RESOURCES FOR ARTISTS TO WORK AND GENERATE INCOME FROM THEIR CREATIVE ENDEAVORS; AND-INTEGRATING ART INTO THE FABRIC OF OUR COMMUNITY.VALUES:-REPRESENTATIVE: EMPHASIZING UNDER-REPRESENTED VOICES AND STORIES-COMMUNITY CENTERED: FACILITATING THE ARTIST AND THE COMMUNITY TO DRIVE THE WORK-HYPER-LOCAL: FOCUSING ON SOUTHEAST SEATTLESEEDARTS IS COMMITTED TO BECOMING AN INCLUSIVE AND ANTI-RACIST ORGANIZATION. TO MAKE OUR ARTS EXPERIENCES ACCESSIBLE, OUR PROGRAMS ARE LOCATED WITHIN THE COMMUNITIES WE SERVE, ARE COMMUNITY DRIVEN AND CULTURALLY RELEVANT, AND ARE OFFERED FOR FREE OR LOW-COST. SEEDARTS HAS GROWN FROM A GRASSROOTS COMMUNITY ARTS PROGRAM, LAUNCHED IN 1982, INTO A MULTIDISCIPLINARY ARTS ORGANIZATION THAT SERVES ONE OF THE MOST GEOGRAPHICALLY DIVERSE AND ECONOMICALLY CHALLENGED NEIGHBORHOODS IN THE CITY. 14523954 1 1 0 0 0 0 0 0 1 0 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 70 0 1 42 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X CARLOS ROJAS 2067237333 5117 RAINIER AVENUE S SEATTLE WA 98118 MICHAEL SEIWERATH EXECUTIVE DIRECTOR 40.00 X 173024 0 9920 KENT'AE VAN LONDON DIRECTOR OF PROPERTY & ASSET MGMT 40.00 X 144871 0 9170 JUHEE KANG REAL ESTATE DEVELOPMENT DIRECTOR 40.00 X 132959 0 9930 JORGE PEREZ FINANCE DIRECTOR 40.00 X 96192 0 0 DAMIAN STACK PRESIDENT 2.00 X X 0 0 0 SUSANNA TRAN VICE PRESIDENT & DIRECTOR 2.00 X X 0 0 0 MARI TAMIYASU SECRETARY & VICE PRESIDENT 2.00 X X 0 0 0 ASHWIN WARRIOR TREASURER & SECRETARY/TREASURER 2.00 X X 0 0 0 GAUTHAM ACHARYA DIRECTOR 2.00 X 0 0 0 ZIQUORA BANKS DIRECTOR 2.00 X 0 0 0 NIMCO BULALE DIRECTOR 2.00 X 0 0 0 EVAN CANTINI MD DIRECTOR 2.00 X 0 0 0 KRISTA HOLLAND DIRECTOR 2.00 X 0 0 0 JIQUANDA NELSON DIRECTOR 2.00 X 0 0 0 PEARL NELSON DIRECTOR 2.00 X 0 0 0 OLUMIDE OWOO DIRECTOR 2.00 X 0 0 0 LACEY WARRIOR DIRECTOR 2.00 X 0 0 0 KAREN WONG DIRECTOR 2.00 X 0 0 0 547046 0 29020 3 0 1 0 JOHNSON BRAUND INC 15200 52ND AVENUE S SUITE 300 TUKWILA WA 98188 DESIGN SERVICES 367390 JRS PAINTING DRYWALL & HOUSEKEEPING INC 29206 45TH PLACE S AUBURN WA 98001 FLOOD DAMAGE REPAIR 230753 DO IT RIGHT ACCOUNTING SERVICES LLC PO BOX 80542 SEATTLE WA 98108 ACCOUNTING AND CONSULTING SERVICES 125836 3 1335640 5102649 6438289 LOW INCOME HOUSING 531390 9273533 9273533 OTHER ART PROGRAM 713990 50750 50750 MANAGEMENT FEE 531390 33396 33396 ART MEMBERSHIP 713990 15875 15875 9373554 320204 320204 382 0 382 382 382 93274 56995 36279 36279 MISCELLANEOUS INCOME 900099 11589 11589 INVESTMENT IN SUBS 900099 -320197 -320197 -308608 15860100 9101225 0 320586 445165 398155 42469 4541 2028997 1814735 193566 20696 7471 6682 713 76 158027 141339 15076 1612 245854 219892 23454 2508 437348 391164 41723 4461 317010 283533 30243 3234 122740 109779 11709 1252 914350 817795 87229 9326 29805 26658 2843 304 499481 446736 47650 5095 134440 120243 12826 1371 3634559 3250749 346737 37073 2095 1874 200 21 8335 7455 795 85 2944233 2633322 280880 30031 2146354 2111798 34556 561748 502427 53591 5730 BAD DEBT EXPENSE 682970 610849 65155 6966 MISCELLANEOUS 509882 456038 48643 5201 LOSS 140623 125774 13415 1434 ART EXPENSE 33497 29959 3196 342 19005 16998 1813 194 16023989 14523954 1358482 141553 1829147 1558346 2912603 3107476 3305495 3075551 455835 850928 87806225 38479001 51388379 49327224 748473 9878277 5502 4484 7764579 7277836 68410013 75080122 899819 1557232 170972 337546 324717 323415 52454055 58365768 18856524 18794694 0 161430 72706087 79540085 X -4440347 -4656354 144273 196391 -4296074 -4459963 68410013 75080122 -163889 0 X X 0 1 X 1 1 1 X 983855 545043 798835 1974854 6438289 10740876 3565023 3938851 5959367 8232126 9158220 30853587 4548878 4483894 6758202 10206980 15596509 41594463 0 0 0 41594463 116384 144505 559907 1826611 320204 2967611 116384 144505 559907 1826611 320204 2967611 3823319 3823319 4665262 4628399 7318109 15856910 15916713 48385393 0.85960 0.81540 0.06130 0.07930 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: DEBT FORGIVENESS DEBT RESTRUCTURING RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 143373 202952 150834 195491 1 X 10382629 10382629 47069661 22304347 24765314 7802558 843533 6959025 22551377 15331121 7220256 49327224 PROGRAM RELATED INVESTMENT 9878277 F 9878277 PROJECT DEVELOPMENT COSTS 2378987 SECURITY DEPOSITS 393601 RESERVES 4345591 RIGHT-OF-USE LEASE ASSETS 159657 7277836 RIGHT-OF-USE LEASE LIABILITIES 161430 161430 X PART IV, LINE 1B: THE ORGANIZATION ACTS AS FISCAL AGENT FOR SMALL NONPROFITS THAT HAVE NOT OBTAINED THEIR OWN 501(C)(3) STATUS. PART IV, LINE 2B: THE ORGANIZATION HOLDS TENANT SECURITY DEPOSITS, WHICH ARE MAINTAINED SEPARATELY FROM GENERAL OPERATING FUNDS. EACH SECURITY DEPOSIT IS RETURNED TO THE TENANT, LESS ANY COSTS, UPON TERMINATION OF THE LEASE. PART X, LINE 2: SOUTHEAST EFFECTIVE DEVELOPMENT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). INCOME FROM COMMERCIAL LEASING ACTIVITIES NOT DIRECTLY RELATED TO SEED'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. NO TAXES WERE PAID ON UNRELATED BUSINESS INCOME DURING 2024 DUE TO RELATED LOSSES ON THOSE ACTIVITIES. MANAGEMENT HAS DETERMINED THE DEFERRED TAX BENEFIT RELATED TO NET OPERATING LOSS CARRYFORWARDS TO BE INCONSEQUENTIAL AND, THEREFORE, HAS NOT RECORDED AN ESTIMATE FOR THE BENEFIT IN SEED'S CONSOLIDATED FINANCIAL STATEMENTS. RAINIER COURT I, RAINIER COURT II, RAINIER COURT III, AND RAINIER COURT IV HAVE NO PROVISION OR BENEFIT FOR INCOME TAXES INCLUDED IN THESE FINANCIAL STATEMENTS SINCE TAXABLE INCOME OR LOSS PASSES THROUGH TO, AND IS REPORTABLE BY, EACH PARTNER OR MEMBER INDIVIDUALLY. SEED PROPERTIES LLC, LILAC LODGE LLC, OREGON PLACE AND CLAREMONT ARE WHOLLY OWNED BY SEED AND REPORT THEIR INCOME AND EXPENSES FOR FEDERAL TAX REPORTING PURPOSES AS A PART OF SEED. X X X 1 0 0 0 0 0 0 0 0 MICHAEL SEIWERATH EXECUTIVE DIRECTOR 173024 0 0 0 0 0 0 0 9920 0 182944 0 0 0 KENT'AE VAN LONDON DIRECTOR OF PROPERTY & ASSET MGMT 114871 0 0 0 30000 0 0 0 9170 0 154041 0 0 0 PART I, LINE 4A IN 2024, KENT'AE VAN LONDON RECEIVED A SEVERANCE PAYMENT OF $30,000. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE ELECTED OFFICERS OF SEED AND THE EXECUTIVE DIRECTOR AS AN EX-OFFICIO MEMBER. THE EXECUTIVE COMMITTEE IS THE OPERATIONS COMMITTEE OF THE ORGANIZATION. THE COMMITTEE MEETS ON A REGULAR BASIS AT AN ESTABLISHED TIME AND PLACE TO: A) DISCUSS POLICY ISSUES AND MAKE RECOMMENDATIONS TO THE BOARD OF DIRECTORS AS APPROPRIATE. B) PREPARE A WRITTEN EVALUATION OF THE EXECUTIVE DIRECTOR IN OCTOBER OF EACH YEAR. C) SUBMIT POLICY RECOMMENDATIONS IN WRITING TO THE BOARD, AT LEAST ONE WEEK PRIOR TO THE NEXT SCHEDULED BOARD OF DIRECTORS MEETING. D) CONDUCT BUSINESS IN ACCORDANCE WITH THE POLICIES OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO MANAGE THE ORGANIZATION IN THOSE MATTERS THAT THE BOARD OF DIRECTORS HAS DESIGNATED BY RESOLUTION ADOPTED BY A MAJORITY OF THE DIRECTORS THEN IN OFFICE, EXCEPT THAT THE EXECUTIVE COMMITTEE MAY NOT: 1. AMEND, ALTER, OR REPEAL THE BYLAWS; 2. ELECT, APPOINT OR REMOVE ANY COMMITTEE MEMBER OR BOARD MEMBER; 3. AMEND THE ARTICLES OF INCORPORATION; 4. ADOPT A PLAN OF MERGER OR A PLAN OF CONSOLIDATION; 5. AUTHORIZE THE SALE, LEASE OR EXCHANGE OF ALL OR SUBSTANTIALLY ALL OF THE ORGANIZATION'S PROPERTY AND ASSETS OTHER THAN IN THE ORDINARY COURSE OF BUSINESS; 6. AUTHORIZE THE VOLUNTARY DISSOLUTION OF THE ORGANIZATION; 7. ADOPT A PLAN FOR THE DISTRIBUTION OF THE ORGANIZATION'S ASSETS; OR 8. AMEND, ALTER OR REPEAL ANY RESOLUTION OF THE BOARD THAT BY ITS TERMS PROVIDES THAT IT CANNOT BE AMENDED, ALTERED OR REPEALED BY A COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE FORM 990 WAS PREPARED BY THE ORGANIZATION'S INDEPENDENT CPA WITH INFORMATION PROVIDED BY MANAGEMENT. THE EXECUTIVE DIRECTOR, DIRECTOR OF FINANCE AND FINANCE COMMITTEE OF THE BOARD REVIEWED AND APPROVED THE FORM 990 AND A COPY WAS PROVIDED TO THE FULL BOARD OF DIRECTORS BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C SEED HAS A CONFLICT OF INTEREST POLICY WHICH APPLIES TO ALL EMPLOYEES, DIRECTORS AND OFFICERS. EMPLOYEES ARE PERSONS ARE REQUIRED TO REVIEW THE POLICY IN THE EMPLOYEE HANDBOOK AND SELF IDENTIFY ANY CONFLICTS AS THEY EMERGE. DIRECTORS AND OFFICERS ARE GIVEN THE POLICY UPON JOINING THE BOARD AND SELF IDENTIFY ANY CONFLICTS AS THEY EMERGE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE PREPARES A WRITTEN EVALUATION USING MARKET DATA AS BASIS FOR COMPARISON FOR THE EXECUTIVE DIRECTOR AND OTHER DIRECTORS DURING OCTOBER EVERY YEAR AND THE EVALUATION IS RECORDED IN BOARD MINUTES. THE LAST YEAR THIS PROCESS OCCURRED WAS 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE AUTHORITY AND PROCESS FOR SELECTING THE FINANCIAL STATEMENT AUDITOR AND FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT DID NOT CHANGE DURING THE YEAR. 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