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Catalyst Impact Fund INC

Tax-deductible

San Diego, CA501(c)(3)Since 2020Housing EIN 85-0681665Revenue $7.6M in FY2024

On file with the IRScatalysthousing.com501 W Broadway Ste 1540, 92101-3770 · San Diego, CATax-exempt since Jan 2021Publicly supported charity — 170(b)(1)(A)(vi)

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The Catalyst Impact fund's purpose is to develop and facilitate innovative solutions, programs, and opportunities to address housing and other socioeconomic concerns for america's essential workforce.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Run by 6 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2024 · 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
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$95.3M
106% of total assets
Concern: liabilities are 106% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 6 voting members
Looks good: 5 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.6M
×1486 vs prior year
Spent
$11.5M
To programs
99%
Net assets
−$5.3M
By yearFY2020–FY2024
Revenue
$7.6M
FY2024▲ ×1486
Tap a bar for its year
Revenue by fiscal year
FY2020$101K
FY2021$101K
FY2022$100K
FY2023$5K
FY2024$7.6M
Net assets
−$5.3M
FY2024▼ -299347%
Tap a bar for its year
Net assets by fiscal year
FY2020$74K
FY2021$86K
FY2022$65K
FY2023−$2K
FY2024−$5.3M

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2021.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $11.4M Management & general 1% · $153K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Annie Koo
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Linda Assante
Secretary
$0Pt VII · Sec A
Nina Tran
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Missy Narula
Director
$0Pt VII · Sec A
See Catalyst Impact Fund 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 15aNo
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Develops solutions for essential workers' housing and socioeconomic needs.

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Provided by the organization

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2 programs · $11.4M · in their own filed words · FY2024
01

Affordable Housing

On january 31, 2024, the organization acquired a multifamily rental housing development located in san jose, california. The 6-STORY property includes 168 residential units and 18,151 square feet of commercial space.

$11.0Mprogram expense
02

Fiscal Sponsorship

The organization serves as fiscal sponsor to JDL strategies, LLC, supporting its charitable project to assess land banking as a solution for community-centered affordable housing production and preservation in marin county, california.

$370Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$7.6M
Ln 12
Fees for servicesLn 2g$6.3M
Gifts and grantsLn 1h$833K
Investment incomeLn 3$479K
Money outPt IX
$11.5M
Ln 25
Programscol B$11.4M
Managementcol C$153K
Owns and owesPt X
−$5.3M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$89.9M
LiabilitiesLn 26$95.3M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$833K
Fees for servicesLn 2g$6.3M
Investment incomeLn 3$479K
Total revenueLn 12$7.6M
Assets in detailPt X, end of year
CashLn 1$1.1M
Cash and savings togetherLn 1–2$1.1M
Land, buildings, equipmentLn 10c$77.8M
Other assetsLn 15$10.7M
Total assetsLn 16$89.9M
LiabilitiesLn 26$95.3M
Net assetsLn 32−$5.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.0M$1.1M
Land, buildings, equipmentLn 10c$79.3M$77.8M
Total assetsLn 16$93.0M$89.9M
LiabilitiesLn 26$94.4M$95.3M
Net assetsLn 32−$1.4M−$5.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$332K$332K
Other employee benefitsLn 9$40K$40K
Payroll taxesLn 10$20K$20K
Management feesLn 11a$383K$383K
Legal feesLn 11b$65K$65K
Accounting feesLn 11c$25K$25K
Other fees for servicesLn 11g$4K$4K
Advertising and promotionLn 12$60K$60K
Office expensesLn 13$184K$62K$122K
Conferences, conventions and meetingsLn 19$6K$6K
InterestLn 20$5.6M$5.6M
Depreciation, depletion and amortizationLn 22$2.5M$2.5M
InsuranceLn 23$285K$285K
Other expenses (24a–d)Ln 24$1.9M$1.9M
All other expensesLn 24e$65K$65K
Total functional expensesLn 25$11.5M$11.4M$153K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $7.6M$11.5M−$4.0M−$5.3M 990 PDF
FY2023 $5K−$2K 990 PDF
FY2022 $100K$65K 990 PDF
FY2021 $101K$86K 990 PDF
FY2020 $101K$74K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $7,572,568 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $392,830$833,138
I-9 Program service revenuePrior year $2,548,098$6,260,820
I-10 Investment incomePrior year $234,628$478,610
I-11 Other revenuePrior year −$150,980$0
I-12 Total revenuePrior year $3,024,576$7,572,568
I-13 Grants and similar amounts paidPrior year $15,660$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $125,625$391,584
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,265,227$11,133,416
I-18 Total expensesPrior year $4,406,512$11,525,000
I-19 Revenue less expensesPrior year −$1,381,936−$3,952,432
Part VI · Governance 5 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $7,572,568 across 5 lines filed
Lines not itemized here account for $154,909 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$833,138
VIII-1h Total contributions, gifts and grants$833,138
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,452,704 · Unrelated business $653,207$6,105,911
VIII-3 Investment incomeExcluded from tax $478,610$478,610
VIII-12 Total revenueRelated to mission $5,607,613 · Unrelated business $653,207 · Excluded from tax $478,610$7,572,568
Part IX · Statement of functional expenses $11,525,000 across 15 lines filed
IX-7 Other salaries and wagesPrograms $331,958$331,958
IX-9 Other employee benefitsPrograms $39,770$39,770
IX-10 Payroll taxesPrograms $19,856$19,856
IX-11a Management feesPrograms $383,038$383,038
IX-11b Legal feesPrograms $64,562$64,562
IX-11c Accounting feesManagement $24,920$24,920
IX-11g Other fees for servicesPrograms $3,808$3,808
IX-12 Advertising and promotionPrograms $59,772$59,772
IX-13 Office expensesPrograms $61,700 · Management $122,480$184,180
IX-19 Conferences, conventions and meetingsManagement $5,810$5,810
IX-20 InterestPrograms $5,585,242$5,585,242
IX-22 Depreciation, depletion and amortizationPrograms $2,534,302$2,534,302
IX-23 InsurancePrograms $284,576$284,576
IX-24 Other expenses (24a–d)Programs $1,938,328$1,938,328
IX-24e All other expensesPrograms $64,878$64,878
IX-25 Total functional expensesPrograms $11,371,790 · Management $153,210 · Fundraising $0$11,525,000
Part X · Balance sheet $89,938,582 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $1,022,511$1,057,076
X-4 Accounts receivableStart of year $66,139$145,566
X-9 Prepaid expenses and deferred chargesStart of year $160,564$221,297
X-10c Land, buildings and equipment, netStart of year $79,299,127$77,821,872
X-15 Other assetsStart of year $12,429,528$10,692,771
X-16 Total assetsStart of year $92,977,869$89,938,582
X-17 Accounts payable and accrued expensesStart of year $185,458$3,276,717
X-19 Deferred revenueStart of year $141,574$136,440
X-20 Tax-exempt bond liabilitiesStart of year $79,245,105$79,350,697
X-24 Unsecured notes and loans payableStart of year $10,000,000$10,000,000
X-25 Other liabilitiesStart of year $2,789,450$396,878
X-26 Total liabilitiesStart of year $94,361,587$95,274,732
X-27 Net assets without donor restrictionsStart of year −$1,608,600−$5,990,360
X-28 Net assets with donor restrictionsStart of year $224,882$654,210
X-32 Total net assets or fund balancesStart of year −$1,383,718−$5,336,150
X-33 Total liabilities and net assetsStart of year $92,977,869$89,938,582
Part XI · Reconciliation of net assets −$5,336,150 net assets at year end
XI-1 Total revenue$7,572,568
XI-2 Total expenses$11,525,000
XI-3 Revenue less expenses−$3,952,432
XI-4 Net assets at start of year−$1,383,718
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$5,336,150

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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