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Seachange Capital Partners Inc.

Seachange Capital Partners Inc.

New York, NY 10018
Tax ID20-5124665

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About this organization

Revenue

$1,775,844

Expenses

$1,827,746

Website

seachangecap.org

Mission

SEACHANGE CAPITAL PARTNERS' MISSION IS TO ENABLE TRANSACTIONS THAT INCREASE THE IMPACT OF NON-PROFITS WHILE OFFERING LEVERAGED FUNDING OPPORTUNITIES FOR DONORS.

About

SeaChange's mission is to enable transactions that increase the impact of nonprofit organizations while offering leveraged funding opportunities for donors. These transactions include: mergers, acquisitions, joint-ventures, and other types of partnerships and alliances (collectively, "collaborations"); growth capital campaigns; and spin-offs, divestments, restructuring, and real estate project of various types. We facilitate transactions by making grants, loans, and investments from our funds, by providing advisory services, and by "making markets" within our network. We focus only on situations where there is a benefit to our playing an intermediary role. Our principal asset is a network of foundations, individuals, nonprofits and public entities that trust us to make strategic grants and investments, provide advice and analysis, synthesize and flow information, and manage potential conflicts of interest.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 in education and youth development through the Catalyst Fund (2008-2016), SeaChange expanded into mergers and collaboration with the SeaChange-Lodestar Fund for Nonprofit Collaboration (2009-present) and the New York Merger Acquisition and Collaboration Fund (2012-present); into credit with the Contact Fund (2013-present); and into impact-investment with the New York Pooled PRI Fund (2014-present). The New York Pooled PRI Fund is a Delaware Limited Liability Company exempt from registration as an Investment Company under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act"). SeaChange serves as the Managing Member of The New York Pooled PRI Fund. The Contact Fund is a New York Limited Liability company exempt from registration as an investment company under the U.S. securities law. SeaChange manages the Contact Fund pursuant to a management services agreement. The New York Merger, Acquisition, and Collaboration Fund, the Catalyst Fund, and the SeaChange-Lodestar Fund for Nonprofit Collaboration are grant-making 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 three programs are distinct legal entities, nor are any subject to the Investment Company Act.) In 2011, we began providing Advisory Services in response to requests from nonprofits and funders. In 2015, SeaChange became the fiscal sponsor of Greater NY, which pairs corporate executives with nonprofit executives for two-year partnerships to focus on the strategic business issues which will keep New York nonprofits strong in a quickly changing business environment. Our work will continue to evolve in response to changes in the environment, feedback from the market, and reflection on our accomplishments and challenges.During 2017, SeaChange was involved in 33 transactions across the SeaChange Lodestar Fund (12) and The New York Merger, Acquisition, and Collaboration Fund (NYMAC) (21), compared to 33 transactions in 2016. SeaChange had a staff of four full-time employees and six full-time employees in 2017 and 2016, respectively.

Interesting data from their 2020 990 filing

The filing outlines the non-profit's goal as “Seachange capital partners' mission is to enable transactions that increase the impact of nonprofits while offering leveraged funding opportunities for donors. for seachange, transactions include mergers, acquisitions, restructurings, spin-offs, financings, recapitalizations, and real estate projects.we focus in four areas:in nonprofit collaboration, we support organizatons that already have a serious interest in coming together - or in exploring how they might - by covering a portion of the costs of exploring or completing the transaction. we manage two funds - the seachange-lodestar fund for nonprofit collaboration and the new york merger, acquisition, and collaboration fund - that make grants to encourage and support mergers, acquisitions, joint-ventures, and other types of formal, long-term collaborations between nonprofits.in alliance with the contact fund and new york pooled pri fund, seachange makes flexible, high-impact loans to nonprofits in new york city that have real estate”.

When explaining its purpose, the activities were outlined as: “Seachange capital partners' mission is to enable transactions that increase the impact of non-profits while offering leveraged funding opportunities for donors.”.

  • As per legal reporting requirements, the state of operation for the non-profit is DE.
  • The non-profit's address for 2020 is listed as 1385 BROADWAY 23RD FLOOR, NEW YORK, NY, 100189238 in the filing.
  • As per the non-profit's form, they have 9 employees as of 2020.
  • Does not operate a hospital.
  • Does not operate a school.
  • Does not collect art.
  • Does not provide credit counseling.
  • Does not have foreign activities.
  • Is a donor advised fund.
  • Is not a private foundation.
  • Expenses are greater than $1,000,000.
  • Revenue is greater than $1,000,000.
  • Revenue less expenses is -$51,902.
  • The CEO compensation package within the organization is determined through a review and endorsement by a neutral party.
  • The organization has a written policy that describes how long it will retain documents.
  • The organization has 7 independent voting members.
  • The organization was formed in 2006.
  • The organization has a written policy that addresses conflicts of interest.
  • The organization is required to file Schedule B.
  • The organization is required to file Schedule J.
  • The organization is required to file Schedule O.
  • The organization pays $1,095,415 in salary, compensation, and benefits to its employees.
  • The organization pays $47,502 in fundraising expenses.
  • The organization provides Form 990 to its governing body.
  • The organization has minutes of its meetings.
  • The organization has a written whistleblower policy.
  • The organization has grants to organizations.
  • The organization's financial statements were reviewed by an accountant.

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