Catalyst Miami INC FY2023 filing

Tax-deductible

Mikami, FL501(c)(3)Community DevelopmentEIN 65-0690368

The organization's mission is to identify and collectively solve issues adversely affecting low-wealth communities throughout miami-dade county.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
$569K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
501(c)(3)
not on the IRS revocation list
IRS BMF · Auto-Revocation List
Are gifts tax-deductible?
Yes
Donations are tax-deductible
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2024
latest Form 990
IRS e-file · Filing history
Is it financially stable?
3 of 4
years in the black
Pt I · Ln 19 · 4 filings
How much reaches the programs?
77%
of spending
Pt IX · Ln 25 · col B
What are leaders paid?
$569K
to officers and key staff · 13% of spending
Pt VII · Sec A
Do they have reserves?
10 mo
of spending, in cash
Pt X · Ln 1–2 · Pt I · Ln 18
Who is supporting them already?
2
named funders · $426K
Funders’ Sch. I, 990-PF
Do they carry debt?
$141K
liabilities
Pt X · Ln 26
Who oversees it?
16
independent of 16 voting board members
Pt VI · Ln 1a–1b
Revenue
$3.3M
-28% vs prior year
Spent
$4.2M
To programs
77%
Net assets
$5.5M
By yearFY2020–FY2024
Revenue
$3.3M
FY2023▼ -28%
Revenue by fiscal year
FY2020$4.9M
FY2022$4.6M
FY2023$3.3M
FY2024$5.0M
Expenses
$4.2M
FY2023▲ +2%
Expenses by fiscal year
FY2020$4.1M
FY2022$4.1M
FY2023$4.2M
FY2024$4.1M
Net assets
$5.5M
FY2023▼ -15%
Net assets by fiscal year
FY2020$4.5M
FY2022$6.4M
FY2023$5.5M
FY2024$6.4M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CCatalyst Miami INC
EINHdr · item D65-0690368
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFOct 1997
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CMikami, FL
NTEE classificationIRS BMFCommunity Development (S21)
WebsiteHdr · item Jwww.catalystmiami.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.20 Fundraising $0.03
Program services77%$3.3M
Management & general20%$834K
Fundraising3%$124K
Total functional expensesLn 25$4.2M

Financial health

Is it on solid ground?

Program efficiency
77%
of spending reaches programs
Operating runway
9.7mo
months of highly liquid reserves at operating expense rate
Surplus margin
-29%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$5.6M
FY2023▼ -14%
Total assets by fiscal year
FY2020$4.6M
FY2022$6.5M
FY2023$5.6M
FY2024$6.5M
Total liabilities
$141K
FY2023▲ +4%
Total liabilities by fiscal year
FY2020$125K
FY2022$135K
FY2023$141K
FY2024$125K
Revenue less expensesPt I · Ln 19−$945K
Total assetsPt X · Ln 16$5.6M
Program-expense ratioPt IX · col B77%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 416

Balance Sheet

Part X · end of year
CashLn 1$3.4M
Total assetsLn 16$5.6M
Total liabilitiesLn 26$141K
Total net assetsLn 32$5.5M
Months of cash on handcomputed9.7

Statement of Revenue

Part VIII
Contributions & grants$3.1M · 94%
Investment income$169K · 5%
Program service revenue$31K · 1%
Contributions & grants94%$3.1M
Investment income5%$169K
Program service revenue1%$31K
Other revenue$1K
— government grantsLn 1e$516K
Total revenueLn 12$3.3M

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.4M · Operating expenses (Pt IX) $4.2M · Less non-cash grants $585 · Cash operating expenses/yr $4.2M
9.7 months
Where the money goes
Program services
Program services $3.3M · Total expenses $4.2M
77%
Management & General
Management & general $834K · Total expenses $4.2M
20%
Fundraising
Fundraising $124K · Total expenses $4.2M
3%
Cost to raise $1
Fundraising expense (2-yr avg) $138K · Solicited contributions (2-yr avg) $3.3M
$0.04 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $3.1M · Total revenue $3.3M
94%
Government reliance
Government grants $516K · Total revenue $3.3M
16%
Earned-income share
Program service revenue $31K · Total revenue $3.3M
1.0%
Investment reliance
Investment income $169K · Total revenue $3.3M
+5%
Program self-sufficiency
Program service revenue $31K · Total expenses $4.2M
0.7%
Growth & trend
Revenue growth (YoY)
This year $3.3M · Prior year $4.6M
-28%
Net-asset trend (YoY)
End of year $5.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $3.3M · Expenses $4.2M
-29%
Liabilities-to-Assets
Total liabilities — · Total assets $5.6M
—
Net-asset ratio
Net assets $5.5M · Total assets $5.6M
97%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $5.6M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Brian Larson · Reported title CFO · Highest reported compensation $141K · Total expenses $4.2M
3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $2.8M · Total expenses $4.2M
67%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 77%——
Overhead ratio 20%——
Fundraising cost ratio 4%——
Revenue growth -28%——
Accounting fee ratio 0.4%——
Fundraising fee ratio 0.5%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$140,768Pt VII · Sec A
CEO Effectiv
$132,313Pt VII · Sec A
$127,800Pt VII · Sec A
Vice Preside
$111,519Pt VII · Sec A
$53,846Pt VII · Sec A
Board Member
$2,075Pt VII · Sec A
Board Member
$180Pt VII · Sec A
$0Pt VII · Sec A

Zelalem Adefris’s $177K as CEO is at the 58th percentile of top reported officer pay among 2832 $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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Governance & Policies

Part VI
  • 16Voting board membersPt VI · Ln 1a
  • 16Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Solves problems impacting low-wealth communities across Miami-Dade County.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $3.3M of program spending, described in the organization's own filed words · FY2023.
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.

$1.4Mprogram 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.

$851Kprogram expense

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Funders

Who pays for it.

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

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 →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest $5.0M$4.1M+53% 990 PDF
FY2023 Viewing $3.3M$4.2M-28% 990 PDF
FY2022 $4.6M$4.1M-6% 990 PDF
FY2021 Not on file
FY2020 $4.9M$4.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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