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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.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$4.5M
Program Spending
93%
of total expenses go to program services
Total Contributions
$2.3M
Total Expenses
▼$2.5M
Total Assets
$28.7M
Total Liabilities
▼$7.1M
Net Assets
$21.6M
Officer Compensation
→N/A
Other Salaries
$1.8M
Investment Income
$176.4K
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$19.8M
Awards Found
27
Department of Commerce
$3M
THIS EDA INVESTMENT CAPITALIZES A $3,750,000 REVOLVING LOAN FUND (RLF) TO LEND TO BORROWERS IN THE FOLLOWING GEOGRAPHIC REGION: BARNSTABLE, BRISTOL, DUKES, ESSEX, NANTUCKET, NORFOLK, PLYMOUTH, AND SUFFOLK COUNTIES IN MASSACHUSETTS. THE EDA INVESTMENT WILL ALLEVIATE SUDDEN AND SEVERE ECONOMIC DISLOCATION CAUSED BY THE CORONAVIRUS PANDEMIC, PROVIDE PERMANENT RESOURCES TO SUPPORT ECONOMIC RESILIENCY, AND FURTHER THE LONG-TERM ECONOMIC ADJUSTMENT OBJECTIVES OF THE REGION. ONCE IMPLEMENTED, THE RLF WILL PROVIDE ACCESS TO CAPITAL TO HELP SMALL BUSINESSES AND ENTREPRENEURS RECOVER FROM THE CORONAVIRUS PANDEMIC, WHICH WILL PROMOTE JOB CREATION AND RETENTION, ATTRACT PRIVATE INVESTMENT, AND BOLSTER ECONOMIC RESILIENCY THROUGHOUT THE REGION.
Department of Commerce
$1.5M
THE EDA INVESTMENT WILL PROVIDE FUNDING FOR A NEW RLF PROGRAM FOR THE SOUTH EASTERN ECONOMIC DEVELOPMENT CORPORATION?S SEVEN (7) COUNTY LENDING REGION, FOR BUSINESS START-UPS AND EXPANSIONS, WORKING CAPITAL, AND EQUIPMENT PURCHASING, RESULTING IN 100 NEW JOBS, 50 JOBS RETAINED AND $9M IN PRIVATE INVESTMENT MADE IN MA COMMUNITIES.
Department of the Treasury
$800K
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Small Business Administration
$548K
SOUTH EASTERN ECONOMIC DEVELOPMENT CORPORATION, MA THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$511K
TRAINING AND TECHNICAL ASSISTANCE TO SBA MICROLOAN BORROWERS AND PROSPECTIVE BORROWERS
Small Business Administration
$453K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$404.3K
TRAINING AND TECHNICAL ASSISTANCE TO SBA ML PROSPECTIVE CLIENTS & EXISTING BORROWERS.
Small Business Administration
$390.2K
SOUTH EASTERN ECONOMIC DEVELOPMENT CORPORATION
Small Business Administration
$306K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$298.7K
SBA MICROLOAN TECHNICAL ASSISTANCE PROGRAM
Small Business Administration
$224.5K
MICROLOAN TECHNICAL ASSISTANCE GRANT
Small Business Administration
$187K
MICROLOAN PROGRAM - TECHNICAL ASSISTANT GRANT
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
10
Clean Audits
9
Material Weakness
No
Noncompliance Issues
Yes
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $15.8M | Yes | 2026-02-02 |
| 2024 | Clean | Unmodified (Clean) | $14.7M | Yes | 2025-01-31 |
| 2023 | Clean | Unmodified (Clean) | $13.1M | Yes | 2024-02-05 |
| 2022 | Clean | Unmodified (Clean) | $11.5M | Yes | 2023-02-02 |
| 2021 | Clean | Unmodified (Clean) | $9.6M | Yes | 2022-01-26 |
| 2020 | Clean | Unmodified (Clean) | $11M | Yes | 2021-02-07 |
| 2019 | Clean | Unmodified (Clean) | $10.6M | No | 2020-01-23 |
| 2018 | Clean | Unmodified (Clean) | $9.8M | No | 2019-01-31 |
| 2017 | Clean | Unmodified (Clean) | $9M | No | 2018-05-15 |
| 2016 | Minor Findings | Unmodified (Clean) | $8.4M | Yes | 2017-08-01 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$15.8M
Financial Report
Unmodified (Clean)
Federal Expenditure
$14.7M
Financial Report
Unmodified (Clean)
Federal Expenditure
$13.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$11.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$9.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$11M
Financial Report
Unmodified (Clean)
Federal Expenditure
$10.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$9.8M
Financial Report
Unmodified (Clean)
Federal Expenditure
$9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$8.4M
Tax Year 2024 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Not confirmed
No additional tax-exempt status records found in ReconForce's database.
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $4.5M | $2.3M | $2.5M | $28.7M | $21.6M |
| 2022IRS e-File | $4.8M | $2.9M | $2.5M | $24.7M | $19.6M |
| 2021 | $7.4M | $5.8M | $1.9M | $19.9M | $16.4M |
| 2020 | $2M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
| Total |
|---|
| Charles Dwyer | Past Chairma | 2 | $0 | $0 | $0 | $0 |
| Carl W Taber | Chair | 2 | $0 | $0 | $0 | $0 |
| Lorraine Travers | Treasurer | 2 | $0 | $0 | $0 | $0 |
| Edward F Sousa | Asst Treasur | 2 | $0 | $0 | $0 | $0 |
| Catherine Feerick | First Vice C | 2 | $0 | $0 | $0 | $0 |
| John Silva | Second Vice | 2 | $0 | $0 | $0 | $0 |
Charles Dwyer
Past Chairma
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Carl W Taber
Chair
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Lorraine Travers
Treasurer
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Edward F Sousa
Asst Treasur
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Catherine Feerick
First Vice C
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
John Silva
Second Vice
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Susan Murray | Executive Di | 40 | $284.6K | $0 | $10.4K | $295K |
| Lisa M Holmes | Sr VP Lendin | 40 | $186.8K | $0 | $17.5K | $204.3K |
| Laurie Driscoll | VP Commercia | 40 | $165.4K | $0 | $4,464 |
Susan Murray
Executive Di
$295K
Hrs/Wk
40
Compensation
$284.6K
Related Orgs
$0
Other
$10.4K
Lisa M Holmes
Sr VP Lendin
$204.3K
Hrs/Wk
40
Compensation
$186.8K
Related Orgs
$0
Other
$17.5K
Laurie Driscoll
VP Commercia
$169.9K
Hrs/Wk
40
Compensation
$165.4K
Related Orgs
$0
Other
$4,464
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Allyson Brainson | Director | 1 | $0 | $0 | $0 | $0 |
| Bradford P Egan | Director | 1 | $0 | $0 | $0 | $0 |
| Brian Griffin | Director | 1 | $0 | $0 | $0 | $0 |
| Charles Debevoise | Director | 1 | $0 | $0 | $0 | $0 |
| Cheryl A Mccormick | Assistant Cl | 1 | $0 | $0 | $0 | $0 |
| Christopher Cooney | Director |
Allyson Brainson
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Bradford P Egan
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Brian Griffin
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $572K |
| $1.8M |
| $14.7M |
| $10.9M |
| 2019 | $2.4M | $919.5K | $1.8M | $14.2M | $10.8M |
| 2018 | $2.5M | $1.1M | $1.7M | $13.7M | $10.2M |
| 2017 | $2.7M | $1.3M | $1.7M | $12.7M | $9.4M |
| 2016 | $1.8M | $420.2K | $1.6M | $10.5M | $8.5M |
| 2015 | $1.8M | $379.6K | $1.6M | $10.6M | $8.3M |
| 2014 | $3.3M | $1.7M | $2M | $10.5M | $8.1M |
| 2013 | $3.1M | $1.5M | $2M | $9M | $6.9M |
| 2012 | $2.2M | $566K | $2M | $7.9M | $5.8M |
| 2011 | $2.2M | $581.3K | $1.9M | $7.7M | $5.6M |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| $169.9K |
| Angela Laperriere | VP Business | 40 | $154.2K | $0 | $4,369 | $158.5K |
| Tamarah Bacon | VP Commercia | 40 | $150K | $0 | $4,264 | $154.2K |
Angela Laperriere
VP Business
$158.5K
Hrs/Wk
40
Compensation
$154.2K
Related Orgs
$0
Other
$4,369
Tamarah Bacon
VP Commercia
$154.2K
Hrs/Wk
40
Compensation
$150K
Related Orgs
$0
Other
$4,264
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
| Crystal Dacruz | Director | 1 | $0 | $0 | $0 | $0 |
| Deborah Panullo | Director | 1 | $0 | $0 | $0 | $0 |
| Doris De Los Santos | Director | 1 | $0 | $0 | $0 | $0 |
| James Hanlon | Director | 1 | $0 | $0 | $0 | $0 |
| James Horrigan | Director | 1 | $0 | $0 | $0 | $0 |
| Jeffrey Pineault | Director | 1 | $0 | $0 | $0 | $0 |
| Jennifer Menard | Director | 1 | $0 | $0 | $0 | $0 |
| Johnny Charles | Director | 1 | $0 | $0 | $0 | $0 |
| Joseph Orlando | Director | 1 | $0 | $0 | $0 | $0 |
| Keith Broyles | Director | 1 | $0 | $0 | $0 | $0 |
| Maria Gooch-Smith | Director | 1 | $0 | $0 | $0 | $0 |
| Michael O'Sullivan | Director | 1 | $0 | $0 | $0 | $0 |
| Pamela Labreche | Director | 1 | $0 | $0 | $0 | $0 |
| Patrick J Gaughan | Director | 1 | $0 | $0 | $0 | $0 |
| Paul Ruocco | Director | 1 | $0 | $0 | $0 | $0 |
| Paul S Medeiros | Director | 1 | $0 | $0 | $0 | $0 |
| Rachel Barrett | Director | 1 | $0 | $0 | $0 | $0 |
| Rebecca Collins | Director | 1 | $0 | $0 | $0 | $0 |
| Richard Shafer | Clerk | 1 | $0 | $0 | $0 | $0 |
| Stephen Peck | Director | 1 | $0 | $0 | $0 | $0 |
| William J Ash | Director | 1 | $0 | $0 | $0 | $0 |
Charles Debevoise
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Cheryl A Mccormick
Assistant Cl
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Christopher Cooney
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Crystal Dacruz
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Deborah Panullo
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Doris De Los Santos
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
James Hanlon
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
James Horrigan
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jeffrey Pineault
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jennifer Menard
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Johnny Charles
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Joseph Orlando
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Keith Broyles
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Maria Gooch-Smith
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Michael O'Sullivan
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Pamela Labreche
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Patrick J Gaughan
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Paul Ruocco
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Paul S Medeiros
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Rachel Barrett
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Rebecca Collins
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Richard Shafer
Clerk
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Stephen Peck
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
William J Ash
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0