2024-08-28T08:30:37-07:00 2023-12-31 200268717 FUOCO GROUP LLP 200 PARKWAY DR S STE 302 HAUPPAUGE NY 11788 990 2023-01-01 205124665 SEACHANGE CAPITAL PARTNERS INC SEAC 8448697842 420 Lexington Ave 300 NEW YORK NY 10170 JOHN MACINTOSH MANAGING PARTNER 2024-08-28 true true Robert J Logan CPA P01394294 6313601700 2023 2024-08-08 14:25:15Z 420 Lexington Ave 300 NEW YORK NY 10170 4050128 false X www.seachangecap.org X 2006 DE SEACHANGE SUPPORTS NONPROFITS FACING COMPLEX FINANCIAL AND ORGANIZATIONAL CHALLENGES. WE DO THIS WITH GRANTS, LOANS, CONSULTING, AND RESEARCH TO EDUCATE NONPROFITS, FUNDERS, AND OTHER STAKEHOLDERS. SEACHANGE ALSO WORKS TO BUILD EFFECTIVE CONNECTIONS BETWEEN FUNDERS AND NONPROFITS ON THE ASSOCIATED ISSUES. 11 10 8 10 0 2017874 3584275 513917 418953 4061 30127 7990 16773 2543842 4050128 810459 1624813 0 1012602 950588 0 30374 406299 537058 2229360 3112459 314482 937669 9672602 8914155 3132320 1436956 6540282 7477199 SEACHANGE SUPPORTS NONPROFITS FACING COMPLEX FINANCIAL AND ORGANIZATIONALCHALLENGES. WE DO THIS WITH GRANTS, LOANS, CONSULTING, AND RESEARCH TO EDUCATE NONPROFITS, FUNDERS, AND OTHER STAKEHOLDERS. SEACHANGE ALSO WORKS TO BUILD EFFECTIVE CONNECTIONS BETWEEN FUNDERS AND NONPROFITS ON THE ASSOCIATED ISSUES. WE FOCUS IN FOUR AREAS:IN MERGERS AND SUSTAINED COLLABORATION, WE SUPPORT NONPROFITS THAT ALREADY HAVE ASERIOUS INTEREST IN COMING TOGETHEROR IN EXPLORING HOW THEY MIGHTBY COVERING APORTION OF THE COSTS OF EXPLORING OR COMPLETING THE TRANSACTION. WE MANAGE FOURGRANTMAKING PROGRAMSTHE SEACHANGE-LODESTAR FUND FOR NONPROFIT COLLABORATION, THE NEW YORK MERGER AND COLLABORATION FUND, THE GREATER PHILADELPHIA NONPROFIT REPOSITIONING FUND, AND THE TRANSFORMATIONAL PARTNERSHIPS FUND (WITH A FOCUS ON HIGHER EDUCATION) THAT PROVIDE FUNDING TO ENCOURAGE AND SUPPORT MERGERS, ACQUISITIONS, JOINT VENTURES, AND OTHER TYPES OF FORMAL, SUSTAINED COLLABORATIONS BETWEEN NONPROFITS. SEACHANGE IS A FOUNDIN false false 2753566 SEACHANGE SUPPORTS NONPROFITS FACING COMPLEX FINANCIAL AND ORGANIZATIONAL CHALLENGES. WE DO THIS WITH GRANTS, LOANS, CONSULTING, AND RESEARCH TO EDUCATE NONPROFITS, FUNDERS, AND OTHER STAKEHOLDERS. SEACHANGE ALSO WORKS TO BUILD EFFECTIVE CONNECTIONS BETWEEN FUNDERS AND NONPROFITS ON THE ASSOCIATED ISSUES.SEACHANGE LAUNCHED IN EARLY 2008 WITH SUPPORT FROM THE BILL & MELINDA GATES FOUNDATION, OMIDYAR NETWORK, THE WILLIAM AND FLORA HEWLETT FOUNDATION, THE SURDNA FOUNDATION, GOLDMAN SACHS, AND A GROUP OF INDIVIDUAL PHILANTHROPISTS. AFTER AN INITIAL FOCUS ON EDUCATION AND YOUTH DEVELOPMENT THROUGH THE CATALYST FUND (2008-2016), SEACHANGE EXPANDED INTO SUSTAINED COLLABORATION WITH THE SEACHANGE-LODESTAR FUND FOR NONPROFIT COLLABORATION (2009-PRESENT), THE NEW YORK MERGER AND COLLABORATION FUND (NYMAC, 2012-PRESENT), THE GREATER PHILADELPHIA NONPROFIT REPOSITIONING FUND (NONPROFIT REPOSITIONING FUND, 2018-PRESENT), AND THE TRANSFORMATIONAL PARTNERSHIPS FUND (2020-PRESENT); INTO CREDIT WITH THE CONTACT FUND (2013-PRESENT), THE SEACHANGE SPECIAL IMPACT FUND LLC (SIF, 2020-PRESENT), THE NEW YORK POOLED PRI FUND (NYPRI, 2014-PRESENT), AND NEW YORK SHELTER ACQUISITION AND PREDEVELOPMENT FUND, LLC (NYSAPF, 2023-PRESENT); AND INTO IMPACT INVESTING WITH THE NEW YORK IMPACT OPPORTUNITIES FUND, LLC (2021-PRESENT). NYPRI, THE CONTACT FUND, NYSAPF, AND SIF ARE SEPARATE LEGAL ENTITIES; SEACHANGE SERVES AS THE MANAGING MEMBER OF NYPRI AND NYSAPF, AS THE SOLE MEMBER OF SIF, AND MANAGES THE CONTACT FUND PURSUANT TO A MANAGEMENT SERVICES AGREEMENT. NYMAC, THE SEACHANGE-LODESTAR FUND FOR NONPROFIT COLLABORATION, THE NONPROFIT REPOSITIONING FUND, AND THE TRANSFORMATIONAL PARTNERSHIPS FUND ARE GRANTMAKING PROGRAMS OF SEACHANGE THAT ARE REFERRED TO AS FUNDS BECAUSE EACH HAS A DISTINCT SET OF PHILANTHROPIC FUNDERS TO WHOM CERTAIN GOVERNANCE RIGHTS HAVE BEEN GRANTED. NONE OF THESE FOUR GRANTMAKING PROGRAMS ARE DISTINCT LEGAL ENTITIES. IN 2011, SEACHANGE BEGAN PROVIDING ANALYSIS AND ADVICE (I.E., CONSULTING) IN RESPONSE TO REQUESTS FROM NONPROFITS AND FUNDERS. OUR WORK WILL CONTINUE TO EVOLVE IN RESPONSE TO CHANGES IN THE ENVIRONMENT, FEEDBACK FROM THE MARKET, AND REFLECTION ON OUR ACCOMPLISHMENTS AND CHALLENGES. SEACHANGE ALSO REGULARLY RELEASES REPORTS ANALYZING MAJOR ISSUES FOR THE NONPROFIT SECTOR, AS WELL AS OPINION PIECES IN VARIOUS PUBLICATIONS.DURING 2023, SEACHANGE MADE GRANTS TO SUPPORT 42 SUSTAINED COLLABORATION TRANSACTIONS ACROSS THE SEACHANGE-LODESTAR FUND (10), NYMAC (4), THE NONPROFIT REPOSITIONING FUND (18), AND THE TRANSFORMATIONAL PARTNERSHIPS FUND (10), COMPARED TO 38 TOTAL GRANTS FUNDED IN 2022. SEACHANGE HAD A STAFF OF 8 FULL-TIME EMPLOYEES IN 2023 AND 6 IN 2022. 2753566 true true false false false false false false false false true false true false true true true false false false false false false false false false false false false true false false false false false false false false false false false false true false false false false true 16 0 false 8 false false false false false false false false 0 false false false false false false false X 11 10 false false false false false false false true true false false true true true true true true true true false NY X X JOHN MACINTOSH 8448697842 420 Lexington Ave NEW YORK NY 10170 JOHN MACINTOSH MNG PARTNER 40.00 0.00 X X 198142 0 0 TAJREENA TABASSOOM PARTNER 40.00 0.00 175717 0 0 ALEX VOLPICELLO Secretary 40.00 0.00 X 88600 0 0 AARON SIEGEL Trustee 1.00 0.00 X 0 0 0 MARK E REED III CO-CHAIR 10.00 0.00 X X 0 0 0 VALARIE GAY Trustee 1.00 0.00 X 0 0 0 W BOWMAN CUTTER Trustee 1.00 0.00 X 0 0 0 GEORGIA LEVENSON KEOHANE Trustee 1.00 0.00 X 0 0 0 Tata Traor-Rogers Trustee 1.00 0.00 X X 0 0 0 MARGARET CROTTY CO-CHAIR 1.00 0.00 X 0 0 0 TAYLOR KUSHNER Treasurer 1.00 0.00 X X 0 0 0 FRANK LIU Trustee 1.00 0.00 X 0 0 0 SISTER PAULETTE LOMONACO Trustee 1.00 0.00 X 0 0 0 462459 2 false true false 0 3584275 3584275 Advisory Consulting 541900 76549 76549 Management Fees 541610 342404 342404 418953 30127 30127 0 0 0 0 0 0 0 LOAN INTEREST 900099 16773 16773 16773 4050128 359177 106676 1624813 1624813 0 0 0 462459 360718 87867 13874 0 354495 273076 70784 10635 66551 51609 12945 1997 5363 4182 1021 160 61720 47882 11986 1852 0 284244 247150 37094 91497 79602 11895 0 0 0 0 0 1239 1239 19578 15189 3802 587 0 13739 10658 2669 412 66698 7731 58456 511 0 0 0 0 1108 860 215 33 7981 6192 1550 239 DUES AND SUBSCRIPTIONS 24763 21994 2769 PAYROLL SERVICE FEE 21989 21989 MISCELLANEOUS 2462 1910 478 74 Printing and Publications 1760 1760 0 3112459 2753566 328519 30374 7674984 1603319 203146 271146 323252 1277655 0 0 0 66000 407335 0 246982 104376 65238 63793 2553 1445 3523829 0 1155685 1623300 0 101750 9672602 8914155 14195 15753 650000 1150000 2468125 271203 3132320 1436956 X 2245634 2527767 4294648 4949432 6540282 7477199 9672602 8914155 937669 -752 X X false true X true false X 1431604 4058011 2815625 2017874 3584275 13907389 0 0 1431604 4058011 2815625 2017874 3584275 13907389 145167 13762222 17762 5087 2452 12051 46900 84252 0 0 13991641 0.98360 0.97070 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21056 19611 1445 44182 44182 1445 1623300 Due to New York Pooled PRI Fund, LLC 66359 funds held for lending 204844 271203 X 4049376 -752 -752 4050128 4050128 3112459 3112459 3112459 Part X : FIN48 Footnote SEACHANGE RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT SEACHANGE HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGITION OR DISCLOSURE. X X X false false false false false false false false false JOHN MACINTOSH MNG PARTNER 198142 198142 TAJREENA TABASSOOM PARTNER 175717 175717 Form 990, Part VI, Section A, Line 1a IN 2023, THE BOARD OF DIRECTORS CONSISTED OF THE CHAIR AND 11 OTHER VOTING MEMBERS. THE TREASURER POSITION IS HELD BY A SEACHANGE PARTNER AND VOTING MEMBER. THE SECRETARY POSITION IS HELD BY A NON-VOTING SEACHANGE STAFF MEMBER. Form 990, Part VI, Section B, Line 11b KEY PERSONNEL COMPLETED THE COLLECTION OF DATA ON GOVERNANCE, AUDITED FINANCIALS, AND PROGRAM INFORMATION BEFORE SUBMITTING TO THE OFFICERS FOR REVIEW. THE OFFICERS MET WITH THE AUDITOR TO DISCUSS KEY ISSUES. THE CHAIR OF THE AUDIT COMMITTEE REVIEWED THE COMPLETED FINANCIALS WITH THE AUDITOR AND MET WITH THE OFFICERS TO DISCUSS KEY ISSUES.AN ELECTRONIC COPY OF THE 990 WAS SENT TO EACH MEMBER OF THE BOARD. BEFORE IT WAS FILED, EACH DIRECTOR, IN PARTICULAR THE CHAIRMAN OF THE BOARD AND THE CHAIR OF THE AUDIT COMMITTEE, AND EACH PARTNER WAS ASKED TO REVIEW THE 990 AND EITHER REQUEST CLARIFICATION OR CORRECTION OR APPROVE ITS FILING. AFTER THE 990 WAS FILED, AT THE NEXT BOARD MEETING THE 990 WAS ON THE BOARD'S AGENDA FOR DISCUSSION. Form 990, Part VI, Section B, Line 12c SEACHANGE MAINTAINS A CONFLICT OF INTEREST POLICY THAT APPLIES TO DECISIONS MADE AT BOTH THE PROGRAM AND ORGANIZATIONAL LEVELS. THESE INCLUDE MAKING A GRANT OR LOAN TO AN ORGANIZATION WITH WHICH A BOARD OR STAFF MEMBER HAS EITHER A CONFLICTING RELATIONSHIP OR WHAT COULD BE SEEN AS A CONFLICTING RELATIONSHIP, AS WELL AS ENGAGING VENDORS WITH WHOM A SIMILAR RELATIONSHIP EXISTS. THE POLICY REQUIRES ANNUAL DISCLOSURE AND SIGNATURE FROM EVERY BOARD AND STAFF MEMBER, AND WHEN A CONFLICT DOES EXIST RECUSAL IS REQUIRED. SEACHANGE ALSO MAINTAINS A WHISTLEBLOWER POLICY THAT DESIGNATES THE CHAIR OF THE AUDIT COMMITTEE OF THE BOARD AS COMPLIANCE OFFICER. THIS POLICY IS DISTRIBUTED ANNUALLY IN CONJUNCTION WITH THE CONFLICT OF INTEREST DISCLOSURE. Form 990, Part VI, Section B, Line 15a THE COMPENSATION FOR THE MANAGING PARTNER IS ESTABLISHED BY THE BOARD. THE COMPENSATION FOR ALL OTHER EMPLOYEES IS ESTABLISHED BY THE MANAGING PARTNER IN CONSULTATION WITH THE OTHER PARTNER, WITH APPROVAL FROM THE CHAIR OF THE BOARD. ALL SALARIES AND BENEFITS ARE BASED ON BENCHMARKING ABOUT COMPENSATION FOR COMPARABLE POSITIONS IN THE NONPROFIT SECTOR. Form 990, Part VI, Section C, Line 19 FINANCIAL STATEMENTS ARE AVAILABLE PUBLICLY THROUGH GUIDESTAR, ON THE ORGANIZATION'S WEBSITE, AS REQUIRED THROUGH NEW YORK STATE LAWS GOVERNING CHARITABLE ORGANIZATIONS. Form 990, Part XII, Line 2c OVERSIGHT OF THE AUDIT - THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. THE SPECIAL IMPACT FUND LLC 420 LEXINGTON AVENUE NEW YORK NY 10170 NY N/A false false false false false false false false false false false false false false false false false false false