Not really.  It's a little bigger than that.  A seat is a membership to NastyFans.  Each seat receives weekly distributions of donations received by NastyFans.  While NastyMining does donate all their mining proceeds, NastyFans also receives donations from other sources.  For example, 50% of sales from the 1oz coins and 50% of sales (excluding pre-orders) of the 5oz coins are also being donated to NastyFans.  We run NastyPool which is about to introduce PPS payouts for P2Pool mining.  Hopefully that begins generating donations for NastyFans as well.  There are a few other products we sell (1g silver coins & T-shirts coming soon) that generate donations and we have plans to eventually offers services like automated escrow as well as endorsing a dice style site for additional donation sources.  You can also keep track of NastyFans/NastyPool/NastyMining by checking out our NastyFans iOS App.

There is also a 3rd party site that tracks these coins:
http://nastyfans.uberbills.com