2011-05-13T09:02:20-05:00 2010-12-31 O'CONNOR DAVIES MUNNS & DOBBINS LLP ONE STAMFORD LANDING STAMFORD CT 06902 990 2010-01-01 205124665 SEACHANGE CAPITAL PARTNERS SEAC 2123361500 11 EAST 44TH STREET SUITE 900 NEW YORK NY 10017 MANAGEMENT 2123361500 2011-05-12 1 ROBIN STRONG 2033232400 2010 2016-02-24 21:20:13Z CHARLES T HARRIS III 11 EAST 44TH STREET SUITE 900 NEW YORK NY 10017 2594024 0 X WWW.SEACHANGECAP.ORG X 2006 DE ENHANCE THE FLOW OF GROWTH CAPITAL FROM WEALTHY DONORS TO SELECTED HIGH PERFORMING NON PROFITS. 4 3 11 0 0 0 4549017 2592566 0 0 752 1458 0 0 4549769 2594024 2678965 2571226 0 0 1682443 1681322 0 0 384126 764351 919672 5125759 5172220 -575990 -2578196 12466408 9780901 255726 148415 12210682 9632486 X OUR MISSION IS TO MOBILIZE A NETWORK OF MAJOR DONORS, TO PROVIDE SUBSTANTIAL FUNDING FOR OUTSTANDING NONPROFITS INVOLVED IN EDUCATION AND YOUTH DEVELOPMENT, AS WELL AS TO FACILITATE AND FUND SENSIBLE NONPROFIT COLLABORATIONS. 0 0 4020761 2508000 SEACHANGE IS HELPING OUTSTANDING NONPROFITS RAISE SIGNIFICANT AMOUNTS OF FUNDING THROUGH PHILANTHROPIC CONTRIBUTIONS. THE FIRM IS WORKING IN THE FIELDS OF EDUCATION AND YOUTH DEVELOPMENT FOR LOW-INCOME YOUNG PEOPLE IN THE UNITED STATES.FROM ITS LAUNCH IN JUNE 2006 THROUGH DECEMBER 2008, SEACHANGE CONCENTRATED ON CAPITALIZING ITSELF WITH FIVE YEARS OF OPERATING FUNDS IN ADVANCE OF BEGINNING ITS PROGRAMMATIC AND GRANT-MAKING ACTIVITIES SO THAT LATER IT WOULD NOT HAVE TO SIMULTANEOUSLY RAISE FUNDS FOR ITSELF WHILE ARRANGING FUNDINGS FOR OTHER NONPROFIT ORGANIZATIONS. DURING THE FIRST HALF OF 2008, IT RECRUITED A TEAM AND BEGAN TO IDENTIFY HIGH PERFORMING NONPROFITS WHILE ALSO CONTINUING TO BUILD ITS NETWORK OF POTENTIAL PARTICIPANTS FOR FUTURE FUNDINGS. DURING 2009, 2010 AND THE FIRST QUARTER OF 2011, SEACHANGE ARRANGED A TOTAL OF $12.115 MILLION IN FUNDINGS FOR THREE ORGANIZATIONS: UNCOMMON SCHOOLS, THE NEW TEACHER CENTER AND COLLEGE SUMMIT. SEACHANGE ALSO COMMITTED $1.0 MILLION TO NEW PROFIT, INC, FOR ITS PATHWAYS FUND APPLICATION TO THE SOCIAL INNOVATION FUND. IN CONJUNCTION WITH THIS GRANT, SEACHANGE TOOK ON THE ROLE OF COORDINATING CERTAIN ACTIVITIES FOR A FUNDING GROUP LED BY NEW PROFIT, AND INCLUDING THE BLUE RIDGE FOUNDATION, THE CARNEGIE CORPORATION, THE JPMORGAN CHASE FOUNDATION, THE OPEN SOCIETY FOUNDATIONS AND THE ROBIN HOOD FOUNDATION IN ADDITION TO SEACHANGE. THE GROUP CAME TOGETHER TO FUND A PORTFOLIO OF NONPROFIT ORGANIZATIONS INCLUDING COLLEGE SUMMIT, IMENTOR, YEAR UP, NATIONAL COLLEGE ADVISING CORPS, SINGLE STOP AND YOUTHBUILD USA. 101622 63226 SEACHANGE CONTINUED ITS WORK WITH THE LODESTAR FOUNDATION TO FACILITATE AND FUND SENSIBLE COLLABORATIONS AMONG NONPROFIT ORGANIZATIONS. DURING 2010, THE SEACHANGE-LODESTAR FUND EVALUATED 41 OPPORTUNITIES, AND MADE OR COMMITTED GRANTS TO 9 ORGANIZATIONS. 4122383 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 11 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA KY MA NY OH OR PA SC VA CT NJ MN NC CO X COLMAN BOOKKEEPING 2033878392 904 WHALLEY AVENUE NEW HAVEN CT 065151700 CHARLES T HARRIS III 40.00 X X 220002 0 44713 GARY SYMAN 5.00 X X 0 0 0 ROBERT L GORDON III 1.00 X 0 0 0 SUZANNE LEHMANN 3.00 X 0 0 0 DOUGLAS SMITH 1.00 X 0 0 0 LINCOLN CAPLAN 40.00 X 214619 0 25699 JOHN MACINTOSH 40.00 X 193112 0 29776 C ELIZABETH SPENCER 40.00 X 217929 0 38631 JENNIFER GOLDSTONE 40.00 X 130421 0 15488 976083 0 154307 5 0 1 0 0 2592566 19978 2592566 1458 1458 2594024 0 0 1458 2571226 2571226 984481 652158 208219 124104 530264 361671 137605 30988 60552 41169 15393 3990 17472 12157 5120 195 88553 59331 20367 8855 75625 23444 34787 17394 16449 3290 1645 11514 52112 20529 8005 23578 53466 35822 12297 5347 358871 240444 82540 35887 159931 31986 15993 111952 89862 60208 20668 8986 13356 8948 3072 1336 BAD DEBT EXPENSE 100000 0 100000 0 5172220 4122383 665711 384126 446770 64734 5906640 5427682 5716211 3973999 664 43002 44774 474287 204575 353121 269712 12466408 9780901 18993 38560 206000 65000 30733 44855 255726 148415 X 5495220 4117979 6715462 5514507 12210682 9632486 12466408 9780901 -2578196 X X 0 1 1 X 0 X 421104 9187873 6021783 4549017 2592566 22772343 421104 9187873 6021783 4549017 2592566 22772343 12044376 10727967 1813 19343 144393 752 1458 167759 22940102 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 235587 79472 156115 238700 125103 113597 269712 DEFERRED RENT PAYABLE 44855 44855 2594024 5172220 -2578196 0 -2578196 2662991 68967 68967 2594024 0 2594024 5241187 68967 68967 5172220 0 5172220 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: SEACHANGE RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. MANAGEMENT HAS DETERMINED THAT SEACHANGE HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION. SEACHANGE IS NO LONGER SUBJECT TO AUDITS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO FISCAL YEAR 2007. 1 UNCOMMON SCHOOLS INCORPORATED C/O RHF 826 BROADWAY 9TH FLOOR NEW YORK NY 10003 311488698 501(C)(3) 861000 0 REGIONAL EXPANSION OF SCHOOL BUILDINGS AND NUMBER OF STUDENTS SERVED NEW TEACHER CENTER 725 FRONT STREET STE 400 SANTA CRUZ CA 95060 262427526 501(C)(3) 571800 0 CAPACITY BUILDING GRANT TO POSITION THE ORGANIZATION FOR GROWTH IN THE NUMBER OF TEACHERS SERVED NEW PROFIT 2 CANAL PARK CAMBRIDGE MA 02141 043396766 501(C)(3) 1000000 0 CONTRIBUTION TO SUPPORT PROGRAM EXPANSION IN A PORTFOLIO OF YOUTH-DEVELOPMENT AND EDUCATION ORGANIZATIONS BIG BROTHERS BIG SISTERS OF CHICAGO 560 W LAKE STREET CHICAGO IL 60661 362681212 501(C)(3) 30000 0 TO FACILITATE A MERGER BETWEEN TWO ORGANIZATIONS MAINE MARITIME MUSEUM 243 WASHINGTON STREET BATH ME 04530 010271477 501(C)(3) 30000 0 TO FACILITATE A MERGER BETWEEN TWO ORGANIZATIONS WOMENSLAWORG 55 WASHINGTON STREET SUITE 614 BROOKLYN NY 11201 061573311 501(C)(3) 50000 0 TO FACILITATE A MERGER BETWEEN TWO ORGANIZATIONS GRANTMAKERS FOR EFFECTIVE ORGANIZATIONS 1725 DESALES STREET NW SUITE 404 WASHINGTON DC 20036 010669150 501(C)(3) 25000 0 OPERATING SUPPORT 8 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: EACH GRANTEE AND SEACHANGE AGREE TO TERMS ABOUT QUARTERLY REPORTING BY THE GRANTEE TO SEACHANGE ABOUT THE PROGRESS OF THE GRANTEE TOWARD ITS GOALS UNDER THE GRANT. MEMBERS OF SEACHANGE'S PROGRAM TEAM MONITOR THIS PROGRESS. THEY REPORT TO THE SEACHANGE BOARD AT EACH BOARD MEETING ABOUT ONGOING USE OF GRANT FUNDS. NORMAL MONITORING PROCEDURES ALSO INCLUDE REVIEW OF FINANCIALS, STAFF AND STAKEHOLDER INTERVIEWS, MULTIPLE SITE VISITS, AND AN ECOSYSTEM SURVEY. X X X X X 0 1 0 0 0 0 0 0 0 CHARLES T HARRIS III 220002 0 0 0 0 0 22985 0 21728 0 264715 0 0 0 LINCOLN CAPLAN 171944 0 0 0 42675 0 15383 0 10316 0 240318 0 0 0 JOHN MACINTOSH 193112 0 0 0 0 0 19776 0 10000 0 222888 0 0 0 C ELIZABETH SPENCER 217929 0 0 0 0 0 21151 0 17480 0 256560 0 0 0 PART I, LINE 4A LINCOLN CAPLAN RECEIVED $1,000 A MONTH THROUGH JUNE 2010 (THE TOTAL AMOUNT WAS $6,000 IN 2010) AS A CONTRIBUTION FROM SEACHANGE TO A 457B PLAN IN LIEU OF SEACHANGE PAYING A MONTHLY PREMIUM FOR MEDICAL INSURANCE FOR HIM, AS IT DID FOR ALL OTHER EMPLOYEES, SINCE MR. CAPLAN WAS COVERED UNDER ANOTHER POLICY. FORM 990, PART VI, SECTION B, LINE 11 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. FORM 990, PART VI, SECTION B, LINE 11 AN ELECTRONIC COPY OF THE 990 WAS SENT TO EACH MEMBER BY THE MANAGING PARTNER. 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 THE ORGANIZATION'S CORPORATE BYLAWS HAVE A CONFLICT-OF-INTEREST POLICY THAT ADDRESSES THE MATTER OF CONFLICTS IN THE WAY THAT MATTERS MOST IMPORTANTLY TO THE ORGANIZATION, THROUGH PARTICIPATION IN A DECISION ABOUT MAKING A GRANT TO AN ORGANIZATION WITH WHICH THE PARTICIPANT HAS EITHER A CONFLICTING RELATIONSHIP OR WHAT COULD BE SEEN AS A CONFLICTING RELATIONSHIP. THIS POLICY HAS BEEN ELABORATED ON IN A SUPPLEMENTARY MEMORANDUM FOR THE BOARD AND STAFF. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION FOR THE EXECUTIVE PARTNER IS ESTABLISHED BY THE BOARD. THE COMPENSATION FOR THE MANAGING PARTNER IS ESTABLISHED BY THE EXECUTIVE PARTNER IN CONSULTATION WITH THE CHAIRMAN OF THE BOARD. THE COMPENSATION FOR ALL OTHER EMPLOYEES IS ESTABLISHED BY THE PARTNERS, WITH APPROVAL FROM THE CHAIRMAN OF THE BOARD. ALL SALARIES AND BENEFITS ARE BASED ON BENCHMARKING ABOUT COMPENSATION FOR COMPARABLE POSITIONS IN THE NONPROFIT SECTOR. IN 2009 A NEW PARTNER JOINED SEACHANGE. HER SALARY WAS DETERMINED BY HISTORICAL SEACHANGE SALARIES, AS WELL AS BOARD DISCUSSION AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE PUBLICLY THROUGH GUIDESTAR, AND UPON REQUEST AND AS REQUIRED THROUGH NEW YORK STATE LAWS GOVERNING CHARITABLE ORGANIZATIONS. GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST ELECTRONICALLY OR IN THE SEACHANGE OFFICE. OVERSIGHT OF THE AUDIT PART XI, LINE 2C EXPLANATION THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART VI, SECTION A, LINE 1: THE BOARD OF DIRECTORS CONSISTS OF THE CHAIR AND 3 OTHER VOTING MEMBERS. THE SECRETARY AND TREASURER POSITIONS WHICH SUPPORT THE BOARD ARE NON-VOTING MEMBERS OF BOARD DISCUSSIONS. CURRENTLY BOTH POSITIONS ARE HELD BY SEACHANGE PARTNERS.