Catalyst Miami INC EIN 65-0690368

Catalyst Miami INC

EIN  65-0690368 Public charity (501(c)(3)) Mikami, FL
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/23/26 · see original filing: IRS
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Size
$1–10M
What they do
Solves problems impacting low-wealth communities across Miami-Dade County.
Leadership
Zelalem Adefris · CEO · $177K
Money in and out
$5.0M revenue, $4.1M expenses
Bottom line
71% program efficiency

Solves problems impacting low-wealth communities across Miami-Dade County. For fiscal year 2024 it reported $5.0M in revenue, $4.1M in expenses, and $6.4M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$5.0M
Pt VIII · Ln 12
Total expenses
$4.1M
Pt IX · Ln 25
Net assets
$6.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $958K
Where spending went · Part IX cols B–D
Program services $0.71 Management & general $0.24 Fundraising $0.05
Program efficiency
71%
of spending reaches programs▼ -8% vs prior filing year
Operating runway
15.0mo
months of highly liquid reserves at operating expense rate▲ +55% vs prior filing year
Surplus margin
+19%
revenue over expenses, this year▲ +166% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$5.0M
FY2024▲ +53%
Expenses
$4.1M
FY2024▼ -4%
Total assets
$6.5M
FY2024▲ +17%
Total liabilities
$125K
FY2024▼ -12%
Total revenue
$5.0M
Pt VIII · Ln 12
Total expenses
$4.1M
Pt IX · Ln 25
Net assets
$6.4M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$958K
Total assetsPt X · Ln 16$6.5M
Program-expense ratioPt IX · col B71%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414
Mission & Programs · Part III

Where the work happens

3 program services account for $2.9M of program spending, described in the organization's own filed words · FY2024.
01

Policy & Engagement

Build social cohesion and civic participation to solve critical community issues by organizing and mobilizing with our partner networks and residents. Train and engage residents in all levels of advocacy and grassroots leadership, while also increasing communities' social, political, and financial capital.

$1.2Mprogram expense
02

Prosperity services and wealth-building programs health insurance and income support navigation,financial coaching and financial products, and free tax preparation in support of economic mobility for members of frontline communities.

$1.0Mprogram expense
03

Community economic development creative opportunities for miami-dade residents to own assets through cooperative economic models, such as worker-owned businesses and real- estate investment cooperatives.

$665Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCatalyst Miami INC
EINHdr · item D65-0690368
Principal addressHdr · item CMikami, FL
WebsiteHdr · item Jwww.catalystmiami.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MFL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S21)
Ruling yearIRS BMFOct 1997

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$176,505Pt VII · Sec A
$158,335Pt VII · Sec A
$153,142Pt VII · Sec A
$113,070Pt VII · Sec A
SR. Director
$110,480Pt VII · Sec A
VP Policy En
$107,688Pt VII · Sec A
$104,390Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Zelalem Adefris’s $177K as CEO is at the 58th percentile of top reported officer pay among 2834 $1–10M 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 · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2020
Zelalem Adefris$176,505$132,313
Gretchen Beesing$171,791$132,810
Nina Thompkins Terminated 11124$158,335
Brian Larson$153,142$140,768$121,010$97,273
Nina Thompkis$127,800
Natalie Castellanos$113,070
Nina Thompkins$112,498
Ahmed Mori$111,519

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.

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Statement of Revenue

Part VIII
Contributions & grants$4.8M · 95%
Investment income$258K · 5%
Contributions & grants95%$4.8M
Investment income5%$258K
Program service revenue$12K
Other revenue$1K
— government grantsLn 1e$655K
Total revenueLn 12$5.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.71 Management & general $0.24 Fundraising $0.05
Program services71%$2.9M
Management & general24%$987K
Fundraising5%$190K
Total functional expensesLn 25$4.1M

Balance Sheet

Part X · end of year
CashLn 1$5.1M
Total assetsLn 16$6.5M
Total liabilitiesLn 26$125K
Total net assetsLn 32$6.4M
Months of cash on handcomputed15.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $5.1M · Operating expenses/yr $4.1M
15.0 months
Where the money goes
Program services
Program services $2.9M · Total expenses $4.1M
71%
Management & General
Management & general $987K · Total expenses $4.1M
24%
Fundraising
Fundraising $190K · Total expenses $4.1M
5%
Cost to raise $1
Fundraising expense (3-yr avg) $156K · Solicited contributions (3-yr avg) $3.6M
$0.04 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $4.8M · Total revenue $5.0M
95%
Government reliance
Government grants $655K · Total revenue $5.0M
13%
Earned-income share
Program service revenue $12K · Total revenue $5.0M
0%
Investment reliance
Investment income $258K · Total revenue $5.0M
+5%
Program self-sufficiency
Program service revenue $12K · Total expenses $4.1M
0%
Growth & trend
Revenue growth (YoY)
This year $5.0M · Prior year $3.3M
+53%
Revenue CAGR
FY2020 $4.9M · FY2024 $5.0M
+1%
Net-asset trend (YoY)
End of year $6.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $5.0M · Expenses $4.1M
+19%
Liabilities-to-Assets
Total liabilities — · Total assets $6.5M
Net-asset ratio
Net assets $6.4M · Total assets $6.5M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $6.5M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Zelalem Adefris · Reported title CEO · Highest reported compensation $177K · Total expenses $4.1M
4%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $2.9M · Total expenses $4.1M
71%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 71%
Overhead ratio 24%
Fundraising cost ratio 4%
Revenue growth 53%
Legal fee ratio 0%
Accounting fee ratio 1%
Fundraising fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$426K
Grants paid · 44 grants · $1.3M · 2020–2024
The School Board of Miami-Dade CounFY2024$164,250
Wecount INCFL · FY2024$20,000
Unitemized GrantFY2024$12,820
Miami Workers Center INCFL · FY2024$5,250
Unitemized GrantFY2024$150
The School Board of Miami-Dade CounFY2023$65,849
The School Board of Miami-Dade CounFY2023$49,587
The School Board of Miami-Dade CounFY2023$40,564
Unitemized GrantFY2023$6,159
Wecount INCFL · FY2023$5,276
Unitemized GrantFY2023$4,638
Unitemized GrantFY2023$3,794
Unitemized GrantFY2023$422
See all 44 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$5.0M revenue · viewing · ⤓ 990 PDF
FY2023$3.3M revenue · ⤓ 990 PDF
FY2022$4.6M revenue · ⤓ 990 PDF
FY2021not on file
FY2020$4.9M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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