The SEED Foundation 2022 Annual Report

2022 ANNUAL REPORT

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^ Celebrating 25

YEARS

Providing College Preparatory Education in a Public Boarding School Setting

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TO OUR COMMUNITY

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OUR MISSION & VISION

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SEED NETWORK

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OUR IMPACT

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OUR GRADUATES

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VOICES OF SEED

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OUR PARTNERS

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FINANCIALS

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OUR LEADERS

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JOIN US

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TO OUR COMMUNIT Y FROM OUR BOARD CHAIR Dear SEED Community, Education is ever more important, author and New York Times columnist Tom Friedman notes, in a world that is increasingly “flat” and “fast.” Our interconnected, swift world was never more apparent than during the height of the COVID pandemic, when quarantining called for isolating students and closing schools as a nation and a world. We all paid a price.

As a charter network of four college-preparatory, public boarding schools, focused on providing a high-quality education to all its students, SEED is taking on the challenges associated with learning loss, teacher attrition and emotional health setbacks due to COVID. There are careful readjustments to curriculum, expertly guided by the School Support Team; steady feedback from teachers, parents, and students themselves; and a quest for innovation by redesigning learning environments until they are right.

But isn’t that the very nature of SEED from the beginning? As Lesley Poole reflects in her letter, SEED started 26 years ago by looking for creative ways to advance the educational prospects for first-generation, low income, minority students, and finding unconventional ways to achieve that. So, innovation is in our DNA and the hallmark of SEED’s valued place in the constellation of the charter school movement.

There are so many people to thank for SEED’s promise and progress. Lesley has pointed out Raj’s and Eric’s vision and how it defined the nature of the network itself. And since becoming President and Chief Executive Officer in 2015, Lesley has shepherded us, surrounded by a team of dedicated professionals, making it all look so easy. But we know that the education of students, especially at this time in the setting we have chosen, is anything but easy.

Thank you, too, for the part you are playing, whether it is having the interest to learn about SEED for the first time or being a valued member of the SEED community as a student, parent, teacher, staff or board member, or friend. We cherish your involvement and look forward to working with you, as we continue to pursue the dream articulated 26 years ago by SEED’s founders.

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FROM OUR CEO As I write this letter, it has been nine thousand, four hundred eleven days since Raj Vinnakota and Eric Adler founded The SEED Foundation. That is almost twenty-six years of believing that all children, regardless of their or their families’ circumstances, should be able to achieve their true potential in life and that a boarding school can be a tool by which that potential can be achieved. It is twenty-six years of asking, “What if students had access to teachers beyond 3:00 PM? What if we believed that socials skills were necessary habits for achieving lifelong success and that students needed formal and informal opportunities to learn and practice such skills? What if each student had at least one adult who knew their story, understood their joys and challenges, and believed in their dreams? What if students and families had the agency and information to select a college that was looking for first-generation, low-income, minority students, a college that has built the systems, programs, and culture to set those students up for success? What if public boarding were an educational option from which more families could choose?”.

As the most senior member of The SEED Network in terms of years of service, it will not surprise you that I am in reflection mode and probing whether SEED has made the social impact we envisioned almost three decades ago. In many ways, we have: SEED graduates earn college degree at a rate of 68 percent when they attend a right fit college or university and 48 percent when enrolling any four-year institution, outpacing the national college graduation rate of low-income, first-generation students, who earn degrees at a rate of 11 percent.

That said, looking at recent internal data, it is clear that there are still gaps to close. We have not yet reached our goals for all students, but the SEED community is committed to closing the gaps for its students and to ensuring that each SEED school consistently delivers high quality programming. In our twenty-six years, we have learned so much, and we are drawing on that depth of experience in order to chart a pathway forward.

So much about the SEED experience is difficult to quantify. One example is the idea of a personal network. We all know that no one succeeds alone, but we often take for granted the power of our own networks. Have you ever thought about how your own networks (friends, family, profession-based connections, alma mater, etc.) have helped you get into the best school, find a better job, start a new business, obtain a fellowship, and more? SEED graduates, those young adults who have been part of the SEED community since they were in middle school or ninth grade, continue to have invested adults they met at SEED who have become part of their personal networks. They also have each other, the growing network of SEED graduates across the country. But by being a part of the SEED community, they also have the opportunity to build and tap into networks (often including yours) they would have not had the opportunity to do so otherwise.

It takes time to build mutually deep, trusting relationships, and deep relationships are needed, not merely for the purpose of supporting students in doing their best academically, building a set of social and emotional competencies, or engaging in exposure opportunities, but also because having a reliable network is a priceless asset and might just support the journey of a first-generation, low-income, minority student to create a second generation of college graduates. For me, this is one of the most powerful answers to the question, “Why SEED?” Thank you for your continued partnership, support, and for being an important member of SEED’s network.

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“The quality education that SEED offers is so important to the community.

It provides resources that didn’t exist and makes it possible for families to grow and to break the cycle of poverty.”

- Brandon Julot (SEED MD ’16, Goucher College ’20)

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OUR MISSION The SEED Foundation partners with urban communities to provide educational opportunities that prepare underserved students for success in college and beyond. SEED’s innovative model integrates a rigorous academic program with a nurturing boarding program, which teaches life skills and provides a safe and secure environment.

OUR VISION We believe that all young people, regardless of circumstances, should be able to achieve their true potential in life.

Together with students, families, educators, activists, communities, and policymakers who share this belief, SEED strives to foster a nation where: • Students who need it most have access to a high-quality, college-preparatory, public boarding education; • Low-income, first-generation, college-bound students receive the support they need to thrive in college and beyond; and • Our public education system embraces innovation to empower all students to own their educational journeys.

By 2028, SEED will continue to build on its expertise and proven success to deliver these outcomes to as many students as possible, becoming a nationally recognized leader in education innovation and college access and success.

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SEED NETWORK THE SEED SCHOOL OF WASHINGTON, D.C. We serve students and families with many differences, including family structure, neighborhood, and access to resources. However, one thing they all have in common is a desire for educational opportunities that will prepare them for college and beyond. SEED's unique boarding school model affords us the gift of time which allows us to accelerate learning, develop the character of each student, and expose our students to a wide range of ideas, people, and places. For example, we took a group of students to Greece last school year as part of our Greek Classics program. Our students were immersed in a cultural experience that transformed the way they viewed themselves and the world.

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Founded 1998 250 Students* Grades 9-12

THE SEED SCHOOL OF MARYLAND The public boarding option at SEED MD affords families the opportunity for their son or daughter to receive a 24-hour learning environment. From grades 6-12, our students are immersed in a college-bound culture with a rigorous curriculum and complimentary experiences focused on character development and other college and career ready skills. We remain dedicated to this unique model because we know that for many students in our state, the dream of attending college and ultimately graduating from college is often deferred or denied based upon that family's circumstances. Our boarding model partners with these families and others to ensure the dream of degree attainment is achieved.

• Founded 2008 • 400 Students* • Grades 6-12

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THE SEED SCHOOL OF MIAMI

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Founded 2017 360 Students* Grades 6-12

There are many reasons that students and families select our college prep boarding school model. For most, they are drawn to our outcomes — 100% of scholars in our first two graduating classes have been accepted into college, and nearly all in the Class of 2022 immediately enrolled in college following high school.

Families recognize that these results require significant time, effort, support, and exposure to unique opportunities. In our 24-hour setting students and staff are given the gift of time to maximize academic learning, social skill development, and emotional well-being in a nurturing environment. We have outstanding staff in the fields of education, mental health, youth development, and social work, and through a highly collaborative and integrated method, we work with students and parents to ensure that they manifest their dream to attend and succeed in college.

THE SEED SCHOOL OF LOS ANGELES COUNTY SEED is an educational model that I truly believe in. Having a public boarding school option is true educational equity work. Equity is providing opportunity and access to communities that are in need and deserving of an intensive and supportive educational model. I am a big advocate for school choice. I believe that families should have the option of where their children are educated and should not be relegated to limited options because of where they can afford to live. They are rightfully due this wraparound model of service and support we provide scholars 24 hours a day, five days a week.

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Founded 2022 400 Students* Grades 9-12

*Enrollment numbers reflect the full student capacity for each school.

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OUR IMPACT COLLEGE READINESS*

100% 100%

FAFSA Completion Rate Compared to 57% Nationally College Prep Boot Camp Attendance

COLLEGE TRANSITION*

93%

Immediate College Enrollment at 4-Year Institutions

COLLEGE SUCCESS

68% 48%

*Class of 2022 10

Green Tier (Right-Fit) College Graduation Rate Overall College Graduation Rate

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OUR GRADUATES 2022 SEED HIGH SCHOOL GRADUATES SEED DC Khalil Anderson Bobbi-Dana Ballard Savion Berryman Osja Blackmone Makiya Briscoe Jalen Brown Khareme Bush Trinity Carter Damirea Chase Malaysia Davis Sydney Diggs Janessa Dixon Domonique Eddy Cierra Garrison Gregory Giron Leona Greene Ka'pryce Hall Makeylia Harris Kamayia Henry Charles Hudson Antonio Jackson Isaiah Lewis Jalen McCain Robert McClam Yasmine McClam Jaheim Seymour Briana Spruill Trinity Smith Dionna Valentine Anaisha Wade Antoine Washington Indyah Weathers T'Niya Wheeler Darius Wiley Keyshawn Wormely 12

SEED MD Jaden Alston Stephanie Amoky Kaion Bowman Aaliyah Byrd Destiny Carter Tyshawn Deloatch Taniyah Eggleston Kameal Fairley Olukayode Falankay Assatou Freeman Sophia Gildersleve Grayson Guzman-Navas Samir Hicks Deja Henson Kameron Howard Aaliyah Johnson Shanaja Johnson Jocelyn Keyaka Anthony King Kamira Langhorn Brandon Manning Sarah Mark Troy McKissic Blessen Mitchell Lynell Nchako Dexter Nkimbi Amelia Nwuzor Justin Pryor Justin Reid Trinity Robinson Gabriella Rose Kaiyearra Saunders Jerney Thomas Dayeveon Thompson Darian Tucker

SEED MIAMI Alex Carrie John Dehaarte Kandace Ephord Keion Jean Rose Jeremie Khareem Jones Jabez Joseph Jonathan Larose-Michel Zoe Leader Vanessa Levasseur Danielle Mears Fitzgerald Melville Carlos Molina Osenka Normile Jessenia Pacheco Jocelynn Pacheco Juliana Pierre Faith Previlong Iranis Rodriguez Kimberly Silencieux William Trochez Jahmarley Vivens

2022 COLLEGE GRADUATES Jazmine Anderson SEED MD ’18, Albright College ’22 Anthony Blue SEED DC ’16, University of Maryland Global Campus ’22 Dakara Da’Costa SEED DC ’18, Union College ’22 Daniel Darko SEED MD ’17, Liberty University ’22 Shem Darko SEED MD ’17, Salisbury University ’22 Dominick Francois SEED MD ’17, University of Wisconsin–Stevens Point ’22 Derek Green SEED MD ’17, Salisbury University ’22 Renarda Harris SEED DC ’13, University of the District of Columbia ’22 Jewel Herndon SEED MD ’16, Allegany College of Maryland ’22 Imani Kenley SEED MD ’18, Albright College ’22 Dana Manuel SEED MD ’18, University of Maryland Eastern Shore ’22 JieJer Patrick SEED DC ’18, Purchase College, State University of New York ’22 Vanessa Priggs SEED MD '18, St. John's University '22 Jamilya Rich SEED DC ’16, University of the District of Columbia AA ’22 Myiah Smith SEED DC ’16, Georgetown University ’20, Johns Hopkins University MA ’22

All bachelor’s degrees unless otherwise noted.

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We talked to Myiah Smith (SEED DC ’16) about the impact of choosing to make SEED a part of her educational journey, and the value of education to her family and the community.

Myiah Smith, SEED Graduate Education is a form of empowerment to equip oneself with the knowledge to face a constantly shifting world.

Education prepares you to be flexible and flow with the changes. As learning happens, youth see themselves reflected within a larger society. Education is about ensuring diverse, inclusive, equitable, and sustainable opportunities for youth to be critical thinkers to examine the world around them deeply, how their relationships impact how they choose to live and exist, and how they can craft a life befitting to them.

My parents and community instilled the importance of education in me at a young age. My siblings and I were encouraged to access all of what the school environment had to offer. It was more than what we brought home on our report cards—but how we demonstrated our learning in and out of the classroom. This encouragement pushed us to excel in our studies and participate in extracurriculars and after-school programming.

As a result, my four younger siblings choose different paths, enrolling at School Without Walls, McKinley Technology High School, and Duke Ellington School of the Arts. We each choose schools best aligned with our interests and goals. So, when I learned about The SEED School at ten years old, I was ecstatic!

In 2009, I joined the SEED DC community as a 6th-grader. It reminded me of sleepaway camp; It was more than just a boarding school! I attended Geometry classes with Ms. Princess Harrison, Art with Ms. Kamala Subramanian, and even an elective Why New Orleans Matters class with Mr. Topher Kandik. Evening programming included floor movie nights and DEAR-Drop Everything And Read. From academics to field trips, STEAM, and sports, SEED did a great job curating academic and extracurricular activities—recognizing that each student class had different interests. I participated in the SEED Falcon Theater, along with Varsity Soccer, and our newspaper club, The SEED Quarterly. With the community's support, I had the opportunity to travel abroad during my junior year to Germany on the Congress-Bundestag Youth Exchange scholarship. This experience sparked my interest in diplomacy and cross-cultural learning.

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Despite the adversities my peers and I faced regarding classism, racism, and access within Washington, D.C., we persisted. I grew close to my peers and developed relationships with teachers and mentors that kept me grounded. The variety of exposure opportunities at SEED provided the well-rounded education critical for my development. I decided to begin and complete my educational journey at SEED DC, and in 2016, I graduated valedictorian.

I don’t currently work at a law firm, and I'm not a CEO (yet), but that doesn't stop me from attributing value to our society and empowering the world today. Choices should not be exclusive to those with the privilege to attain them. Those who experience oppression and lack significant economic resources have a right to choose and gain an empowering education.

Giving families a choice to attend The SEED School empowers students to develop well-rounded skills. SEED gifts students a path that opens doors to unrealized potential with the tools to thrive in a society of their own creation. SEED continually contributes to educational justice, especially within communities that face the most injustice. It's been an honor to continue to learn alongside the SEED community and all its members— students, graduates, staff and teachers, our donors and supporters— who contribute to the shared mission of educational justice that empowers future generations of leaders and change makers.

Following SEED, I attended Georgetown University School of Foreign Service and graduated during the pandemic in May 2020. In the summer of 2022, I completed my Master of Education at Johns Hopkins University. I proudly work as an ESOL Educator and liaison of DEIA.

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"We are awed by SEED's relentless determination to transform lives and systems, to champion the rights of their students to attain a college degree, to build on strengths that others don't acknowledge, along with a willingness to speak uncomfortable truths. This is all fueled by their deep commitment to and respect for the people they serve: SEED families and students and their communities. This is why we are honored to support SEED." - Meredith and Joe Callanan, SEED Supporters since 2016

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To say that Kevin and Haise Borgmann are friends of SEED is an understatement. For over two decades, they have been trusted partners—making introductions to potential new friends of SEED, giving generously, serving as advocates, and now contributing to our Annual Report. I am beyond thankful for their dedication and immense kindness.

In this year’s report, we are honored to highlight the Borgmann family, how education has played a key role in their personal journeys, and why they continue to support SEED’s work. I hope you enjoy!

Haise Borgmann, Long Time SEED Champion Over the 23 years we have been involved with SEED, we have watched it grow from the germ of an idea into a system of public, college-prep boarding schools that span the US from coast to coast. Each year, SEED DC added students, building up to its first graduating class in 2004. As SEED DC sent its students to college, it expanded its commitment to supporting those students as they traveled that path. And, once out of college, SEED supported its students as they searched for jobs and served their communities. The commitment that SEED has made to the students who attend and their families has continued to inspire us to renew our commitment to support SEED year after year. We are invested in the process that SEED has established, reinforcing both the academic and social/emotional aspects of learning and continuing to serve as a resource to SEED students and their families well beyond their graduation. We have been amazed to watch over two decades as that carefully-crafted experiment has blossomed and born fruit, welcoming new classes of students each year under the caring canopy of SEED. My father was the first in his family to go to college. He would have gone to a junior college to play basketball, had it not been for a teacher who encouraged him to apply for an academic scholarship to a four-year college.

He won that scholarship and received more money to go to a four-year college than to the junior college, and one might say that changed the trajectory of his life—and mine. My husbands’ parents were also first-generation college students, and his father was an immigrant who studied in the US as an exchange student and then moved here for college. Both of our mothers were teachers. Giving us the best education possible was a priority for both families, and even though resources were tight, they figured out a way both to send us to the best schools they could find as well as to college. They took out loans and did whatever it took to give us the gift of education, and that gift opened up the world to us, through the people we met and the opportunities available to us. We both feel like we owe so much gratitude to our parents for the sacrifices they made to provide us with our education and everything that came with it; we also recognize the impact that kind of education gave us and feel inspired to help students and families access similar educational opportunities. We recognize the sacrifice and support the families who send their children to SEED undertake—they want to give their children 18

the best educational experience available to them, and they believe that the college preparatory boarding school model SEED offers provides that opportunity. Students are exposed to inspiring teachers, mentors, foreign travel, internships, a well-thought-out college matching process, and an overall supportive environment that prepare them for success.

We have been particularly impressed with the College Transition and Success (CTS) program that SEED employs to help find the best college situation for their students and with the support that SEED gives to its students once they graduate from SEED. When a family commits itself to a SEED education, SEED commits its personnel and resources to supporting that family throughout their students’ educational experience and even into the world beyond school. That dedication and the network it provides for the students and their families has continued to speak to us and given us even more reason to support SEED. On a more personal note, in the conversations we have had over time with co-founders Eric Adler and Raj Vinnakota and frequently with SEED leaders Lesley Poole, Chief Executive Officer, and Vincena Allen, Chief Growth Officer, we see the tireless energy, constant innovation, and inspired ideas that have led to the success of SEED as an idea and as an institution as well as to the success of its students. What has stood out to us throughout our time with SEED is the care that its leaders pour into the students, often long after they graduate, and the lifelong commitment SEED has to positive outcomes in its students’ lives. We recently watched a video featuring SEED graduates, in which they shared how the journey through SEED and on to college impacted their lives. The words they spoke perfectly encompassed the reasons we support SEED: the unique opportunity to be exposed to rigorous academics and enriching learning experiences in a safe and supportive environment.

We are thankful to have learned in such an environment, and we are happy to support SEED in its endeavors to provide the same to its students so that they can take root, grow, and develop under the nurturing hands of their families and the educators, care takers, and leaders of SEED, to become mighty oaks, fortified by the care and education of their years at SEED and ready to stand strong on their own.

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When we asked Haise Borgmann to interview Ms. Michael Da’Costa about her decision to raise her children in the SEED community, we knew she was the absolute right choice! Haise is not only a longtime friend of SEED and experienced writer, but she is also someone who deeply understands the value of a public college prep boarding education and the power of family.

We are grateful to Haise for the compassion and energy she put into writing this piece, and we are forever inspired by Ms. DaCosta’s courage, heart, love for her children and faith in SEED. I know all will be encouraged by the story of the Da’Costa family…please enjoy!

Michael Da’Costa, SEED Family “SEED is my village.” Ms. Da’Costa ended our conversation with that sentiment, and all the words that she shared over the course of our time together painted a picture of that village.

When Ms. Da’Costa was first introduced to SEED DC, she was looking for a school that would offer her children a safe place to go as well as somewhere that would offer her children a positive environment in which to learn and grow. As a single working mother of five children, she was concerned with her children’s safety as they traveled to and from school as well as what they were exposed to while at school. SEED was an answer to her prayers. While it was difficult for the closely-knit family to adjust to being apart from each other during the week, Ms. Da’Costa had faith that SEED was providing her children with a safe learning environment, and that knowledge brought her great peace, a sentiment she reiterated throughout our conversation. “God blessed our family with the SEED.” She prayed about her decision to send her children to SEED and felt that God put all the pieces in place and guided them to this opportunity.

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As her first SEED student, Alex, settled into the new structure and rigor of the school, Ms. Da’Costa encouraged her to persevere through homesickness and the trials of adjusting to her new school environment. As each of her other children became old enough to attend, Ms. Da’Costa was relieved that they could be in the same place, together again. She picked SEED not only for the safety it offered, but also for the opportunity for her children to develop independence. Once they were at SEED, they were able to shine and make the most of SEED. Ms. Da’Costa liked that her children learned to strive and became excited to learn. They became motivated to finish SEED, which was quite a transformation from their early educational experience and the more challenging early days they experienced as they adjusted to SEED. “They wouldn’t have made it at a regular school, given the kinds of things that were happening….They have made great accomplishments because of SEED.” Ms. Da’Costa credits the teachers and staff at SEED for the strong mentoring relationships her children experienced. Since their father was not a strong presence in their lives, it meant a lot to Ms. Da’Costa that her sons had caring male mentors who could support them as they grew and matured and who could share insights with her as well about parenting teen boys. In addition, her children were able to experience their city, sampling local restaurants and trying new things. When they are together, her children reflect on their stories and experiences from their time at SEED. They still want to stay in touch with mentors, teachers, and staff from SEED, seeking them out when they return home. Those relationships also inspire her children to be involved with SEED in order to provide support to the next generation of SEED students, further building the village that Ms. Da’Costa spoke of so fondly: “Greatness all around.”

Not only did her children get to explore their city, but they were able to explore the world. “Their dreams became big once they went to SEED,” Ms. Da’Costa said. “They could visualize doing certain things around the world and then go accomplish them.” Even though she has never been on an airplane, Ms. Da’Costa secured passports for all of the children so they could travel. Since graduating from college, one of her sons, Dakoda, is now working in IT in Austin, Texas, and her youngest daughter, Dakara, lives with her husband on an Air Force base in Italy. Her children are encouraging her to fly—she has motivation to give it a try to go see where her children are living now! They want to broaden her world in the way that she helped broaden theirs, giving them the wings to fly by sending them to SEED. When Ms. Da’Costa reflected on her goals for her children, she said wanted them to go to school and promised them she would find a way for them to go to college afterwards but wasn’t sure how to accomplish that goal. With the support of SEED and their college counselors, teachers, and mentors, they were able to explore the best fit for each of her children as well as to access the financial support to fund their college experiences, helping Ms. Da’Costa make good on the promise she made to her children.

Ms. Da’Costa and her children made a commitment to their SEED experience, and SEED has continued their commitment to the Da’Costa family—and the hundreds of others who have gone to SEED—well beyond their graduation from high school. Ms. Da’Costa summed that connection up by saying, “It’s just like family.”

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Aline (SEED LA ’26) shares why she and her family decided SEED was the best choice for her future, and what it means to be a first-generation college-bound student.

Aline, SEED Student My mother values education. She believes that obtaining knowledge and having a degree can help you get far in life. She feels that degree holders have access to more resources—so she’s been very supportive of me going to SEED. I came across SEED LA through a social media advertisement. I immediately told my mom about SEED and how it was a new high school in our community with a college prep boarding environment. I was interested in hearing more because I felt it would be a great opportunity for me. Having the structure of a boarding school would help me to concentrate on my work and to prepare for college.

When I learned that SEED LA had a focus on STEM, I was eager to enroll. The STEM curriculum is important to me because I think it will give me access to more career options in the future. I have always been interested in STEM, but my weak subject was math. However, since coming to SEED, I have become more confident in math and have the support from my teachers to continue to grow. We also have study hall after school where tutors are available to help us with our homework. Outside of school, I am a member of the Student Ambassador Leadership program. In fact, I am running for vice president of the founding class of 2026!

What I like about being a SEED LA student is that it is not only a school, but also a community. You build bonds with your classmates and connections with your teachers. For example, on my floor in my dormitory, we have house meetings in the evenings where we get together and talk about how our day is going. We also have conversations with our student life counselor about how we can express our feelings, and how we can be self-aware.

I’ve only been a SEED student for 3 months, but I really like the environment. It's fun to be here! I want to go to Harvard or Yale and to either become a neurosurgeon or a lawyer. I am on the path to becoming the first in my family to graduate from college and I think SEED will help me pursue my dreams and reach my goals.

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We spoke to Darian Tucker (SEED MD ’22) about how the SEED community prepared him for college, and what academic success means to him and his family.

Darian Tucker, SEED Graduate Constantly educating myself is critically important to me. As an African American male, I must take extra steps to ensure I build the network, skills, and knowledge to succeed in today’s society. Knowing this motivates me and led me to my journey at SEED. My path to SEED started at Baltimore’s Annual School Choice Fair—an annual fair where families and students can learn about the middle and high schools available for enrollment. Attending this fair was valuable to me because I wanted to go to a school with a quality education that would help me with my goal of getting to college. At the fair, SEED was one of the schools that really caught my eye—I was intrigued by the boarding component. And after I toured SEED MD’s large campus, I began to imagine myself staying in one of the dormitories. I knew SEED was the place for me. However, it took my parents a bit more convincing—but when they learned about the academics, Sparks (extracurricular opportunities to explore interests and passions), and study abroad programming, they began to come around.

I enrolled at SEED MD in 2016 when I was eleven years old. I immediately developed close bonds with my peers, teachers, and counselors. I felt like I could go to them with things that I didn’t feel comfortable discussing with anyone else. I considered SEED home.

Most kids growing up in my neighborhood haven’t attended professional football and baseball games—and they especially haven’t traveled to Brazil to learn about other cultures, languages, and experiences. I also developed a love for the performing arts and joined SEED’s Showstoppers theater troupe. We performed the classic story Sleepy Hollow and gained a better understanding of the arts through a program with the Baltimore Center Stage.

My journey at SEED led me to study nursing and theater arts at Albright College in Pennsylvania. I am currently in my freshman year. Transitioning to a predominantly white college in southeastern Pennsylvania has been challenging. But my seven years of living away from home at a boarding school, the support of my SEED college success advisor, and the generous financial aid package offered have helped to make the adjustment a bit easier. I have also joined the African American Society and Domino’s Club and look forward to exploring Albright’s study abroad program once I have gotten accustomed to campus life here. These resources serve as an outlet and a way for me to connect with peers that share some of my interests and experiences.

I don’t have many male role models in my family that graduated from college, so I felt like earning a degree was something that I needed to do. I’ve worked hard to get here—I deserve to be here and I thank SEED for helping to put me in the position to make a difference in my family.

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REFLECTIONS FROM OUR LEADERSHIP TEAM The Rev. Dr. Martin Luther King, Jr., said, “Life’s persistent and most urgent question is, ‘What are you doing for others?’” I realized early in my career that while earning a living is important, being of service to my community is really what got me out of the bed in the morning. So, why SEED? Because I see the impact of our work every day, and I get to work with talented, brilliant professionals committed to partnering with students and families so they can achieve their dreams. Students and their families deserve to be able to choose from a range of high-quality educational options for their educational needs. My hope is that, someday, there are enough public boarding schools across the nation so every student and family who wants that option can choose it.

Linda Gebric Chief of Staff, The SEED Foundation

From my perspective, the work of SEED is about creating equity through access and opportunities. To that end, the scholars, graduates, families and communities SEED serves and partners with unquestionably deserve a college preparatory boarding option within the public education system. This is true not only locally but also nationally; I believe SEED advocates for and implements a model that is vital not only on an individual, personal level, but also critical to developing the next generation of local, national and global innovative leaders and change makers. It is our job as adults - indeed, our responsibility - to provide the critical building blocks, access to resources and opportunities to learn. I wholeheartedly believe that when young people have access to a quality education and opportunities to grow and shine like those available at SEED, they have the ability to do and achieve anything.

Hopi Moodie Director of Strategic Initiatives and Special Projects, The SEED Foundation

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WELCOME TO THE SEED COMMUNITY FROM OUR SEED LA BOARD CHAIR In 2004, I was working for a TV & Film production company in Hollywood. As a producer, I was trained to recognize ‘a good story’ when I saw one. There was a story on Nightline about SEED that moved me. I was so inspired by what I saw that I convinced my friend, Jo DiSante, to play hooky with me and fly to DC to meet with Raj and Eric to learn more. After the visit, I was convinced that SEED’s innovative model, one that was delivering extraordinary outcomes for students was an option that had to be available to young people in Los Angeles.

I did not know it then but the decision to pursue bringing a SEED School to Los Angeles would change my career trajectory. I now run my own non-profit, Make Good, Inc. and get to spend my days doing work that is meaningful to me.

Both of my parents believed deeply in the power of education to open doors and create opportunity. They both came from humble beginnings and worked very hard to create their own success and clear a path for their children to succeed as well. My mother was part of the women’s movement and made it clear that one should never feel trapped, that women had options and that education (college) could be the catalyst for empowerment. My mother was one of the first female board members on our local board of education. Growing up, my sisters and I were lucky to have the benefit of solid local public schools.

Because I know, one size does not fit all. If we want our society to prosper, we need to invest in our young people and provide them with all the tools to succeed. We need to meet people where they are. For some young people to reach their full potential, a boarding school environment is exactly what is needed.

I never gave up on the idea of SEED coming to Los Angeles. It was always about timing and will and both finally lined up. I will continue to support SEED because SEED believes in the power of potential and provides all the tools to help these deserving young people achieve. I believe in the long-term ripple effect that this will have on our society, and I am grateful to be part of it. Establishing SEED in Los Angeles was a herculean task. There are so many people that persevered and had the courage and passion to make it a reality.

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OUR PARTNERS DONOR LIST VISIONARIES $1,000,000+ Adler Family Foundation, Inc. Baltimore Raves Ballmer Group The Batchelor Foundation, Inc. Natasha and Brandon Beck Renee and Stephen Bisciotti Braman Family Foundation The Board Foundation The Honorable Ann W. Brown and Donald A.* Brown Chris D. and Nina M. Buchbinder California Community Foundation The Capital Group Companies Charitable Foundation CityBridge Foundation/Katherine and David Bradley The Community Foundation for the National Capital Region Ryna and Melvin* Cohen & Marcella and Neil Cohen The EMCF True North Fund The Edna McConnell Clark Foundation The Farmer Family Foundation France-Merrick Foundation Ann B. and Thomas L. Friedman Elizabeth W. and Michael P. Galvin The George Preston Marshall Foundation The Glenstone Foundation Tucker and Jack* Harris The Harry and Jeanette Weinberg Foundation, Inc. Nancy T. and Robert C* Hector, Jr. Helios Education Foundation Joseph Drown Foundation Andrea B. and John H.* Laporte Lewy Family Foundation Los Angeles County The Los Angeles County Metropolitan Transportation Authority Margie & Robert E. Peterson Foundation Lisette and Manuel D. Medina Mitchell P. Rales Family

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Foundation Patricia B.* and Arthur B.* Modell The Morris & Gwendolyn Cafritz Foundation National Philanthropic Trust Marina and David Ottaway Paul J. DiMare Foundation Margie & Robert E. Petersen Foundation Edwin and Penelope F. Peskowitz Ralph M. Persons Foundation Robert P. and Arlene R. Kogod Family Foundation Sheila and Michael Ryan Cindy Stone Venture Philanthropy Partners Weingart Foundation The Whiting-Turner Company The William R. Kenan, Jr. Charitable Trust LEADERS $100,000+ A. James & Alice B. Clark Foundation The Aaron Straus & Lillie Straus Foundation The Abell Foundation Ronald D. and Anne E. Abramson Derek M. and Merel Abruzzese Ellen C. and R. Ware Adams The Ahmanson Foundation Deborah and Patrick W. Allender The Amanter Fund The Annie E. Casey Foundation Anthony & Jeanne Pritzker Family The Arcana Foundation The Honorable Ronald E.* and Dawn Arnall Ash Institute for Democratic Governance and Innovation Ashoka: Innovators for the Public Bainum Family Foundation Baltimore Community Foundation Banyan Tree Foundation The Barry and Wendy Meyer Foundation Benificus Foundation The Bill and Melinda Gates

Foundation The Bloomberg Foundation Bloomberg Philanthropies Haise R. and Kevin S. Borgmann Antoinette and Edward B. Brody Aviva D. Budd The California Wellness Foundation CareFirst BlueCross BlueShield Carnival Foundation Charles and Francene Rodgers Charitable Fund Charles and Helen Schwab Foundation Clayton Baker Trust Gina D. and Brooke B. Coburn Nancy Y. and Martin Cohen Commonweal Foundation Concordia Foundation Cora and John H. Davis Foundation The Cornerstone Group Louise and Nicholas Cortezi Melanie Damian David and Lelia Centner Charitable Foundation Rosalee and Richard Davison The Honorable John K. Delaney and Mrs. April Delaney The DeVito Family Trust Jolynn and Robert H. Dickinson Louisa C. and Robert W* Duemling Educate Tomorrow Educational Promis Foundation The Elizabeth A. Brinn Foundation Lois and Richard* England The Ethel and W. George Kennedy Family Foundation The Fancy Hill Foundation Fannie Mae Foundation Fight For Children The Ford Foundation The Freddie Mac Foundation French American Charitable Trust George Wasserman Family Foundation Henry H. Goldberg and Carol Brown Goldberg Goldseker Foundation

SEED would not be possible without the visionary leaders who have given the following cumulative gifts and commitments to the SEED network.

Tawara D. and Jesse Goode Barry and Mary Gossett Gray Family Charitable Remainder Unitrust The Greater Cincinnati Foundation Harman Family Foundation Harris Family Foundation Helen Bader Foundation The Hoffberger Foundation HSBC - North America Inner Spark Foundation Israelson Family Foundation Jacobs Engineering Janis Minton Consulting The Jenesis Group The JIB Fund c/o JMC Philanthropic Advisors John N. Calley Foundation Lisa Kanengiser and Laurence T. Ginsberg Carolyn Kaplan Kathleen Kennedy Foundation The Kenneth S. Battye Charitable Trust Kirk Foundation Karen and Bruce Levenson Lockhart Vaughan Foundation, Inc. Lumina Foundation for Education The Lynde and Harry Bradley Foundation, Inc. Mary Sullivan Gross Scholarship Fund Max and Victoria Dreyfus Foundation, Inc. Mark and Holly McCulloh Bob and Virginia McGregor Medina Family Foundation The Meltzer Group The Merrill Family Foundation Merritt Properties Trust The Miami Foundation Middendorf Foundation, Inc. Marian and Marc Milgram Virginia W. and James M* Newmyer

Melanie F. and Laurence C. Nussdorf The Ohrstrom Family Foundation The Oprah Winfrey Foundation The Nicholas B. Ottaway Foundation The Otto-Whalley Foundation Peacock Founadtion The Philanthropic Collaborative The Philip L. Graham Fund The Reveas Foundation Carolyn A. and Joseph E. Rice III Richard E. and Nancy P. Marriott Foundation Riordan Foundation The Rose Hills Foundation Stephanie and Scott Rostan The Rouse Company Foundation The Samuel G. and Margaret A. Gorn Foundation The Scheide Fund Eric E. and Wendy Schmidt The Secret The Shelter Foundation, Inc. Betsy R. and George M. Sherman Eileen Shields-West and Robin West Sidman Family Foundation The Skoll Foundation Jacquelyn Soffer Solid Rock Foundation Ruth M. and Arne M. Sorenson The Stavros S. Niarchos Foundation Sarah and David J. Steinberg Michael Stubbs and Bill Resnick Sunrise Foundation James and Trevessa Terrile Dorothy A. Terrell TriMix Foundation Emily B. and Antoine W. Van Agtmael Katherine M. and Bradley J. Vogt W.M. Keck Foundation Joanna and Alan Wallenstein The Walton Family Foundation,

Inc. Wright Family Foundation Michelle J. Yee and Reid Hoffman Judith H. and Leo E. Zickler Sean W. Zielenbach and Meghan Henning *Donors who are deceased

We put extreme care into ensuring the accuracy of our donor list. If you have any questions or comments about how your generous gift appears here, please contact Alisha Huntley at ahuntley@seedfoundation.com.

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We gratefully acknowledge the donors who have contributed to SEED July 2021 - June 2022. $1,000,000+ Margie & Robert E. Petersen Foundation $500,000-$999,999 The JIB Fund c/o JMC Philanthropic Advisors The Rose Hills Foundation $250,000-$499,999 The California Wellness Foundation The Frederick A. DeLuca Foundation Ann B. and Thomas L. Friedman $100,000-$249,999 The Batchelor Foundation, Inc. Chris D. and Nina M. Buchbinder The Capital Group Companies Charitable Foundation Charles and Helen Schwab Foundation Jacobs Engineering Elizabeth W. and Michael P. Galvin Medina Family Foundation Potamkin Family Foundation Katherine M. and Bradley J. Vogt $50,000-$99,999 Audrey B. Drossner Kathleen Kennedy Foundation Kirk Foundation Robert P. and Arlene R. Kogod Andrea B. and John H.* Laporte Palmetto57 Nissan Service Center $25,000-$49,999 Eric S. and Suzanne M. Adler James B. and Esthy* Adler Adler Family Foundation BGE, an Exelon Company Carol and James Collins Foundation Doug & Kaisa Levine Family Support Foundation Eileen Shields-West and Robin West Goldhirsh Foundation Thomas Manning Mary Sullivan Gross Scholarship Fund

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Mark and Marcy Smith Sunrise Foundation Emily B. and Antoine W. Van Agtmael Sean Zielenbach and Meghan Henning $10,000-$24,999 Lyn Aborn and Scott L. Molinaroli Ronald D. and Anne E. Abramson Derek M. and Merel Abruzzese Frank Armstrong The Battier Take Charge Foundation Ginny Boschen Tom Cabrerizo Meredith and Joe Callanan Melanie Damian Jolynn and Robert H. Dickinson Dow Jones Foundation Ed Reed Foundation The Fine and Greenwald Foundation, Inc. The George Preston Marshall Foundation Nancy T. Hector and Robert C. Hector, Jr. Samuel and Pam Himmelrich Israelson Family Foundation The JBG Smith Patricia H. and Mark K. Joseph Lewy Family Foundation Martin Screen Printing and Sign Supply, Co. Inc. Mark and Holly McCulloh The Meltzer Group Virginia W. and James M.* Newmyer NFL Foundation Nunberg Family Foundation Melanie F. and Laurence C.* Nussdorf Paul J. DiMare Foundation PNC Bank Charitable Trust Carolyn A. and Joseph E. Rice III Scott and Stephanie Rostan Robert Smith Marsha Soffer Ruth M. and Arne M.* Sorenson Dorothy A. Terrell James and Trevessa M. Terrile Custodio Toledo Truist The Whiting-Turner Company

$5,000-$9,999 Denise and Philip M. Andrews The Barbara A. Stiefel Foundation, Inc. Patricia Baum Katherine B. Bradley and David Bradley Andrew Carton Damian & Valori LLP | Culmo Trial Attorneys Diane and John Baum Family Fund Dimond Kaplan & Rothstein P.A. Exquisite Catering by Robert Patrick Gannon Peter and Patricia Handal Kelly and William Hardy Alison Clasby Harke, P.A. Roberta Rust Jeffries Deborah and Frank Jimenez Harry P.* and Elizabeth Lebow The Miami Foundation Marc E. Miller and Stephanie deSibour Donald G. Munson Katherine F. Pisano The Preston G. and Nancy M. Athey Fund Schreibman Family Charitable Fund Stephen D. and Gail Shawe JP and Meghan Sheehan Judith W. and Alan Tapper $1,000-$4,999 Vincena M. Allen Anonymous Moseley Architects Susan and Robin Baker Bankruptcy Bar Assoc. of the Southern District of South FL Matthew and Deb Baum Helen and Seth Becker Mary Ann and John Beckley Krista Bedford Ellen C. Benson Richard B. Bermont and Anne M. Levy Richard O. Berndt Ronald Book Monique Booker Thomas and Nancy Brandt Michael Braun Gerald Bruce Lee Jennifer Bryant and Bruce I. Friedland

Ann Burris George Cabrera Doris and John Cameron William Canida Anne S. and J. William Charrier The Chuck & Ellen Knudsen Charitable Gift Fund Craig Ciekot Keniq Coney Carol and Gerald Cope Archie and Penelope Cordish Antwain Coward Toussaint Crawford Anne E. Crawford Barry and Jennifer Crosthwaite Juliana M. Davis and Clyde Relick Earle & Annette Shawe Family Foundation Enterprise Holdings Foundation Exelon Foundation Matching Gifts Program Steven Fedder Tony Fiorentino Bobbi and Barry Freedman Tawara D. and Jesse Goode Audrey F. and James P. Gorter Green Mount Cemetery Diane Grob LaLeatrice Hall Ellen Harvey and Tad Sperry Anthony T. Hawkins and Paula Rome Helios Education Foundation Jacquenette Helmes Andrew and Staci Hodge Sylvia and Herbert Horowitz Khaled Ismail Margaret Jackson Jacob S. Shapiro Foundation John and Jacolyn Bucksbaum Family Foundation Cheryl Johnson Jacqueline Jones-Peace and Breon Peace Joseph Samuel Isicoff Memorial Fund Karen Kaub Mark and Lisa L. Kaufman Therese Kelly and Peter Kovac Robert S. and Pedie Killebrew Georgette D. Kiser Lee Andrews Group Larry Levingston Eric and Pam Loeb Jennifer Lyon

Jeffrey Miller John Miller Rosalia G-H Miller and Richard Miller Rae Millman Adrianne Mittentag James W. Moeller and Marsha MacBride The M&T Charitable Foundation John Murison Gail and Donald Myers Lisa Naeger-Robinson and Doug Robinson The Rose Family Foundation Christopher and Elise Niemczewski Morris Offit Kimberly Park The Pinkhouse Group Foundation Lesley Poole Leonard Powell Gregory Pratt Sharon and James Quarles Robin Quivers Martha Rabbitt Ronald Raider Raytheon Technologies Charity Custodial Andrea Graham Rechichi Anne and Sean Regan Susan D. Ridder Christine Rinehart Jane B. Rodbell Deborah and Michael D. Salzberg Paul Saval SB & Company, LLC Desa Sealy Jill and Bradford Seibert Samford Shapiro Marieke Shukla Porter Siems Shane P. and Caroline Smith Sandra and James Smith Smith Richardson Foundation, Inc. Sol-REIT Andrea Steinacker Mark Steinberg and Dennis Edwards Kirk Sykes T. Rowe Price Associates, Inc. Dwight Taylor Nicholas Terlonge Ashley Tyson Vallit Advisors Rao V. and Radha Vinnakota Rajiv Vinnakota and Catherine

J.M. McKenna Kathy and William Whiting Natalia Wilson Sargent Charles Woodard Brian Woods Rebecca and Thomas Wynne Youth For Christ Miami $500-$999 Sarah Ali Jennifer Armstrong Kate Bagli Ellen and Arden Baker Bally Sun Sports Baltimore Community Foundation The Benevity Community Impact Fund Ted and Georgie Berkinshaw Randall Bodner Jana C. and Richard C. Burch Shannon and Tuck Burch Dan Carey and Deanna Forgione Carson Scholars Fund Benjamin Carson, Jr. Charles F. & Margaret M. H. Obrecht Family Foundation, Inc. Erika and Michael Cryor Nancy Cunningham and Tom Stockdale Susan Cunningham and Philip Eliot Kevin Dignan Timothy Doran Diana and Rick England Ezra and LaVerne Naughton Charitable Fund Alexa and Nauder Faraday Brian Field Deborah S. Freedman Donald Goldstein Cheryl Goldstein Ann Clary Gordon Robert Gordon Jack E. Hairston, Jr. Stacey and Harry Halpert Stephen Henderson Regenia Hicks Richard J. and Margaret Himelfarb Hoffberger Family Philanthropies Senator Paula Hollinger Alisha and Antoine Huntley Harriett and David A. Hutzler Barbara and Boisfeuillet Jones Karly Katona Peter Katona

29

Erika and Thomas Kenney Jackie Kimbrough Nancy Kingsley Dawn Kirstaetter Robert and Susan Kohn Carol and Martin Kolsky James P. Lawless Brad H. and Jodi Lebow Elizabeth L. and James M. Lewis Michael K. Marshall Alicia Matthai Edward and Gillian Meigs Huey Merchant Hopi W. Moodie Mudd, Harrison & Burch, L.L.P. Fiona Newton Clay Oliver and Marci Lief Irma C. Poretsky Susan Purnell Emily Rabbitt Carolina Ramirez Charla M. Rath and Charles W. Henstenburg Craig Rickert Philip Ringo Steven Robinson Stephen and Nancy Rogers James and Laura Rosenfield Linda and Harold Rosenson Ron L. and Olivia Rothstein Kathleen Stacks Ruth F. Stalford Susan Weinstock Jennifer Wells Ron Winner Christy Wise and Robert Axelrod John Wixted Laura and Darien Wright *Donors who are deceased

We put extreme care into ensuring the accuracy of our donor list. If you have any questions or comments about how your generous gift appears here, please contact Alisha Huntley at ahuntley@seedfoundation.com.

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31

FINANCIALS

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INDEPENDENT AUDITOR’S REPORT Board of Directors The SEED Foundation, Inc. Opinion We have audited the accompanying consolidated financial statements of The SEED Foundation, Inc. and Subsidiaries (the Foundation), which comprise the consolidated balance sheet as of June 30, 2022, the related consolidated statements of activities and cash flows for the year then ended, and the related notes to the consolidated financial statements (collectively, the financial statements).

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Foundation as of June 30, 2022, and the changes in their net assets and their cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Foundation and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Foundation’s ability to continue as a going concern within one year after the date that the financial statements are issued or available to be issued.

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and, therefore, is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

Washington, D.C. December 21, 2022

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C O N S O L I D AT E D B A L A N C E S H E E T

Year Ended June 30, 2022 / Comparative Totals 2021

2 0 2 2 2 0 2 1 ASSETS $ 12,861,485 $ 11,882,712 Cash and cash equivalents $ 1,402,972 $ 1,585,830 Investments $ 6,350,539 $ 7,102,951 Receivables, net $ 300,614 $ 481,145 Prepaid expenses $ 10,777 $ 10,776 Restricted cash $ 435,920 $ 727,137 Promises to give, net $ 54,542,822 $ 55,747,533 Property and equipment, net $ 1,306,910 $ 3,029,478 Due from SEED School of Miami $ 377,360 $ Due from SEED School of Los Angeles County $ 77,589,399 $ 80,567,562

LIABILITIES AND NET ASSETS Liabilities: Accounts payable and accrued expenses 2,254,850 2,312,359 $ $ Refundable advances 24,665 2,221,456 $ $ Loans payable 2,025,000 4,925,000 $ $ Bonds payable 17,720,256 18,704,540 $ $ 22,024,771 28,163,355 $ $

Net Assets: Without donor restrictions $ $ 48,649,113 45,200,651 Undesignated $ $ 624,281 624,281 Board designations $ $ 49,273,394 45,824,932

6,291,234 $ With donor restrictions 55,564,628 $

77,589,399 $

$ $ $

6,579,275 52,404,207 80,567,562

C O N S O L I D AT E D S TAT E M E N T O F A C T I V I T I E S

Year Ended June 30, 2022 / Comparative Totals 2021

2 0 2 2 Support and Revenue: Per-pupil allocation Contributions Development & other fees for services Federal entitlements & other federal funds Investment (loss) Income Other Net assests released from restrictions Total Support and Revenue Expenses: Salaries and benefits Supplies and services Depreciation Interest and amortization Total Expenses Change in Net Assets Net Assets: Beginning Ending

34

Without Donor Restrictions

$ $ $

28,579,305 2,544,544 613,437

$ $ $

With Donor Total Restrictions

1,013,788 -

$ $ $

2021 Total

28,579,305 3,558,332 613,437

$ $ $

26,958,013 3.286,858 643,988

6,550,880 $ (182,140) $ 1,077,239 $ 1,302,034 $ $ 40,485,299

$ 205 $ $ $ (1,302,034) $ (288,041)

$ 6,550,880 $ (181,935) $ 1,077,239 $ $ 40,197,258

$ $ $ $ $

2,415,352 396,204 2,695,944 36,396,359

22,499,917 $ 11,111,758 $ $ 2,689,249 $ 735,913 $ 37,036,837 3,448,462 $

$ $ $ $ $ $ (288,041)

$ 22,499,917 $ 11,111,758 $ 2,689,249 $ 735,913 $ 37,036,837 $ 3,160,421

$ $ $ $ $ $

20,863,041 8,293,712 2,447,758 738,021 32,342,532 4,053,827

$ $

$ $

52,404,207 55,564,628

$ $

48,350,380

45,824,932 49,273,394

6,579,275 6,291,234

$ $

T H E S E E D F O U N D AT I O N , I N C .

AND SUBSIDIARIES

C O N S O L I D AT E D S TAT E M E N T O F C A S H F L O W S Year Ended June 30, 2022 / Comparative Totals 2021

2 0 2 2 Cash flows from operating activities: $ 3,160,421 $ Change in net assets Adjustments to reconcile change in net assets to net cash provided by operating activities: $ $ Change in allowance for uncollectible pledges $ 8,351 $ Change in discount on promises to give $ 2,689,249 $ Depreciation $ 14,751 $ Loss on disposal of property and equipment $ 17,716 $ Amortization of debt issuance costs $ 420,007 $ Realized and unrealized loss (gain) on investments $ $ Forgiveness of debt $ $ Change in deferred rent Restricted contributions for endowments Changes in assets and liabilities: Increase (decrease) in: $ 752,412 $ Receivables $ 180,531 $ Prepaid expenses $ 282,866 $ Promises to give $ 22,568 $ Due from SEED School of Miami $ (377,360) $ Due from SEED School of Los Angeles County Increase (decrease) in: $ (57,509) $ Accounts payable and accrued expenses $ (2,196,791) $ Refundable advances $ 4,917,212 $ Net cash provided by operating activities

2 0 2 1 4,053,827 10,714 17,716 2,447,758 7,303 17,716 (288,674) (1,491,600) (100,000)

(5,094,411) 40,151 192,806 14,593 243,341 (214,365) (143,125)

Cash flows from investing activities: $ (1,499,289) $ (1,212,782) Purchase of property and equipment $ (237,149) $ (94,494) Purchase and reinvestment of investments $ 1,700,000 $ 240,000 Proceeds from repayment of note recievable $ (36,438) $ (1,067,276) Net cash used in investing activities Cash flows from financing activities: $ $ Principal payments on loans payable (3,900,000) (1,540,000) $ $ Proceeds of loans payable 1,000,000 1,000,000 $ $ Principal payments on bonds payable (1,002,000) (976,000) $ $ Principal payments on capital lease obligation (2,850) $ $ Restricted contributions for endowments 100,000 $ $ Net cash provided by financing activities (3,902,000) (1,418,850) Net increase in cash and cash equivalents and restricted cash $

978,774

Cash and cash equivalents and restricted cash: Beginning 11,893,488 $ Ending 12,872,262 $

Supplemental disclosure of cash flow information: Cash payments for interest $ 727,562 Supplemental disclosure of noncash financing activities: $ Foregiveness of debt

$

(2,629,251)

$ $

14,522,739 11,893,488

$

720,305

$

1,492,600

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OUR LEADERS T H E S E E D F O U N D AT I O N B O A R D O F D I R E C TO R S Lesley D. Poole, CEO Derek M. Abruzzese, Vice-Chair Earl Adams, Jr. Eric S. Adler Christopher D. Buchbinder, Vice-Chair Antwain Coward Melanie Damian, Ex-Officio Steven K. Fedder Vasco F. Fernandes Ann B. Friedman Elizabeth Galvin Rebecca Gifford Goldberg Marc E. Miller Rosalia Miller Jamie Moeller John M. Noel Desa J. Sealy Eileen Shields-West, Chair Rajiv Vinnakota Daniel A. Winston Helen A. Colson, Director Emeritus Virginia W. Newmyer, Chair Emeritus Donald A. Brown, In Memoriam John H. Laporte, In Memoriam Patricia B. Modell, In Memoriam Harold A. Richman, In Memoriam THE SEED SCHOOL OF WASHINGTON, D.C. BOARD OF TRUSTEES Brian Rahaman, Head of School Angelita Abbott-Buckman Vasco F. Fernandes* Erikka D. Carter Robin Chait Holly Gray Trameece Jeffries Henry R. O’Connor Lesley D. Poole 36

Desa J. Sealy, Chair David J. Steinberg Rajiv Vinnakota Eric T. Vinson, Jr. Marc E. Miller, Trustee Emeritus Donald A. Brown, In Memoriam THE SEED SCHOOL OF MARYLAND BOARD OF TRUSTEES Kirk Sykes, Head of School Eric S. Adler Denise Andrews Karen Barnes Monique Booker Tuck Burch Antonio Campbell Stuart A. Cherry Steven K. Fedder, Chair Brian Field Kelly Tubman Hardy* Laura L. Green Anthony T. Hawkins Dawn Kirstaetter Samuel Lennon, Jr. Eric Loeb Joseph F. Martel Holly McCulloh Steve McManus Marc. E. Miller* Damien Myers Iesha Nicole Pankey Lesley D. Poole Chris Rosenthal Reginald Lewis Smallwood, III Bill Whiting Edward J. Brody, Trustee Emeritus C. Sylvia Brown, Trustee Emeritus John H. Claster, Trustee Emeritus Rajiv Vinnakota, Trustee Emeritus U.S. Congressman Elijah E. Cummings, In Memoriam John H. Laporte, In Memoriam Harry Lebow, In Memoriam Patricia B. Modell, In Memoriam

THE SEED SCHOOL OF MIAMI BOARD OF TRUSTEES Dr. Kara Locke, Head of School Jason Bloch Carol S. Cope Thomas Culmo Melanie Damian, Chair Virginia Emmons Patrick Gannon Alison Clasby Harke Stuart G. Israelson Alise Johnson Henry Tery J. Medina Mark J. Smith Dorothy Terrell Jon Tucker THE SEED SCHOOL OF LOS ANGELES COUNT Y B O A R D O F D I R E C TO R S Isabel Acosta Sarah Ali* Sophia Echavarria Rod Hamilton Jackie Kimbrough, PhD Jennifer Price-Letscher Ruth Stalford, Chair

*Members who are no longer serving on the board

JOIN US

PARTNER If you or your organization are interested in partnering with us to further SEED’s mission and impact, contact info@seedfoundation.com.

VISIT Contact your local SEED School to tour one of our campuses.

LEARN Want to hear more from SEED students and graduates? Connect with us on social media: @TheSEEDFdn on Twitter, IG, and Facebook and read our blog www.seedfoundation.com/blog

DONATE To support SEED students and graduates to, through, and beyond college, make a donation at: www.seedfoundation.com/donate or mail a check to: 1730 Rhode Island Avenue N.W. | Suite 713 | Washington, D.C. 20036

Scan here to visit us online.

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T H E S E E D F O U N D AT I O N 1730 Rhode Island Avenue, NW Suite 713 Washington, DC 20036 202.785.4123 www.seedfoundation.com

T H E S E E D S C H O O L O F WA S H I N G TO N , D. C .

4300 C Street, SE Washington, DC 20019 202.248.7773 www.seedschooldc.org

THE SEED SCHOOL OF MARYLAND 200 Font Hill Avenue Baltimore, MD 21223 410.843.9477 www.seedschoolmd.org

THE SEED SCHOOL OF MIAMI 1901 NW 127th Street Miami, FL 33167 855.818.7333 www.miami.seedschool.org

T H E S E E D S C H O O L O F LO S A N G E L E S CO U N T Y 8400 S. Vermont Avenue Los Angeles, CA 90044 323.843.6700 www.seedschoolla.org

The SEED Foundation 1730 Rhode Island Avenue, NW | Suite 713 Washington, DC 20036 | 202.785.4123 www.seedfoundation.com

© 2022 THE SEED FOUNDATION ALL RIGHTS RESERVED