Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Aug 2019.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
64 cents of each dollar spent went to programs.
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
7 people listed on the 990; $42K paid to officers and key staff.
Michael Maguire’s $31K as COO / Chairman is at the 16th 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 · 2 named individuals · Part VII
| Name | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|
| Michael Maguire | $31,314 | $117,308 | $38,405 | $41,346 |
| Joseph Bonora | $11,002 | $41,478 | $19,202 | $41,137 |
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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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
- Loans to or from officersSch L · Pt II2 listed
Programs and updates
Boosts small businesses and community projects by funding their growth.
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Lending
Catalyst provides real estate acquisition & construction loans, small business and microenterprise loans, working capital, term loans, and bridge loans to ensure its borrowers have the resources needed to grow their businesses to support job creation / retention and increased wages for residents, expand the availability of affordable…
Microenterprise Loans
Catalyst partners with local government agencies and municipalities to create, develop, and manage various funding and technical assistance programs to advance community and economic development goals.
Technical Assistance and Minority Training
Catalyst's technical assistance platform includes its minority developer mentorship & training program ("MDMT"). The purpose of MDMT is to educate minority developers on the comprehensive process of real estate development, including site selection, zoning & permitting, design, construction management and financial forecasting, helping…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $308K | $44K |
| Land, buildings, equipmentLn 10c | $0 | $0 |
| Total assetsLn 16 | $655K | $69K |
| LiabilitiesLn 26 | $1.1M | $558K |
| Net assetsLn 32 | −$435K | −$489K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $42K | $32K | $11K | |
| Other salaries and wagesLn 7 | $7K | $6K | $2K | |
| Other employee benefitsLn 9 | $29K | $22K | $7K | |
| Payroll taxesLn 10 | $20K | $15K | $5K | |
| Legal feesLn 11b | $713 | $535 | $178 | |
| Accounting feesLn 11c | $4K | $4K | ||
| Other fees for servicesLn 11g | $0 | $0 | $0 | $0 |
| Advertising and promotionLn 12 | $72 | $54 | $18 | |
| Office expensesLn 13 | $857 | $643 | $214 | |
| Information technologyLn 14 | $7K | $5K | $2K | |
| OccupancyLn 16 | $47K | $35K | $12K | |
| TravelLn 17 | $16 | $12 | $4 | |
| InterestLn 20 | $62K | $17K | $45K | |
| InsuranceLn 23 | $1K | $792 | $264 | |
| Other expenses (24a–d)Ln 24 | $27K | $25K | $2K | |
| All other expensesLn 24e | $0 | $0 | $0 | $0 |
| Total functional expensesLn 25 | $249K | $159K | $91K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2023 Latest Viewing | $196K | $249K | −$54K | −$489K | 990 PDF |
| FY2022 | $806K | $649K | $156K | −$435K | 990 PDF |
| FY2021 | $693K | $668K | $25K | −$592K | 990 PDF |
| FY2020 | $921K | $678K | $243K | −$622K | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $195,564 revenue, 12 lines filed
Part VI · Governance 5 of 7 board members independent, no flags
Part VIII · Statement of revenue $195,564 across 6 lines filed
Part IX · Statement of functional expenses $249,065 across 16 lines filed
Part X · Balance sheet $68,818 assets, 10 lines filed
Part XI · Reconciliation of net assets −$488,911 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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