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Innovation Catalyst INC FY2023 filing

Tax-deductible

Baton Rouge, LA501(c)(3)Community Development EIN 46-2219934Revenue $29K in FY2023

On file with the IRSinnovationcatalyst.us7117 Florida Blvd, 70806-4549 · Baton Rouge, LATax-exempt since Aug 2014Publicly supported charity — 170(b)(1)(A)(vi)

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To accelerate the growth of the louisiana technology-based economy by (cont'd on sch. O) identifying, educating and connecting entrepreneurs, investors, universities, government agencies and businesses.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $49K a year · 40% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$13K
29% of total assets
Looks good: liabilities are 29% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$29K
+45% vs prior year
Spent
$142K
To programs
76%
Net assets
$30K
By yearFY2020–FY2024
Revenue
$29K
FY2023▲ +45%
Tap a bar for its year
Revenue by fiscal year
FY2020$173K
FY2021$233K
FY2022$20K
FY2023$29K
FY2024$163K
Expenses
$142K
FY2023▼ -0.8%
Tap a bar for its year
Expenses by fiscal year
FY2020$149K
FY2021$156K
FY2022$143K
FY2023$142K
FY2024$276K
Net assets
$30K
FY2023▲ +289%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.0M
FY2021$107K
FY2022−$16K
FY2023$30K
FY2024−$243K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $107K Management & general 25% · $35K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Veneeth Iyengar
Board Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jim Odom
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Paige Carter
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

William Ellison’s $87K as CEO is at the 63rd percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2022FY2021FY2020
William Ellison$87,289$90,951$89,787

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Innovation Catalyst INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Fostering Louisiana's tech economy by connecting entrepreneurs, investors, and businesses.

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Provided by the organization

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4 programs · $214K · in their own filed words · FY2023
01

The Catalyst Fund

A non-profit evergreen seed slated to make 3-4 investments per year in early-stage high impact louisiana startups.

$107Kprogram expense
02

The Catalyst Fund

A non-profit evergreen seed slated to make 3-4 investments per year in early-stage high impact louisiana startups.

$106Kprogram expense
03

Women & Minority Support

Cultivate high potential women and minority entrepreneurs, increasing their awareness and access of programs in entrepreneurship, computer science and engineering.

Pt IX · col B
04

Women & Minority Support

Cultivate high potential women and minority entrepreneurs, increasing their awareness and access of programs in entrepreneurship, computer science and engineering.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
Research Park CorporationFY2021$200K
Total grants receivedfrom 1 funder$200K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$29K
Ln 12
Gifts and grantsLn 1h$29K
Investment incomeLn 3$38
Money outPt IX
$142K
Ln 25
Programscol B$107K
Managementcol C$35K
Owns and owesPt X
$30K
net assets · Ln 32
Cash and savingsLn 1–2$34K
Total assetsLn 16$43K
LiabilitiesLn 26$13K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$29K
Government grantsLn 1e$24K
Investment incomeLn 3$38
Total revenueLn 12$29K
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$34K
Total assetsLn 16$43K
LiabilitiesLn 26$13K
Net assetsLn 32$30K
OperationsPt I, VI
EmployeesI 51
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $163K$276K−$113K−$243K 990 PDF
FY2023 Viewing $29K$142K−$113K$30K 990 PDF
FY2022 $20K$143K−$123K−$16K 990 PDF
FY2021 $233K$156K$77K$107K 990 PDF
FY2020 $173K$149K$24K$3.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons A · Public support O · Explanations
See the full FY2023 990 (1 part)
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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