Overview
What is Innovation Catalyst Inc?
Innovation Catalyst Inc is a small, nonprofit organization situated in Baton Rouge, Louisiana. Their primary mission is to stimulate the growth of Louisiana's technology-driven economy by identifying, educating, and connecting entrepreneurs, investors, universities, government agencies, and businesses. The Catalyst Fund, an evergreen seed fund, is their main tool, aiming to make 3-4 investments annually in early-stage, high-impact Louisiana startups. With a dedicated team of one individual, Innovation Catalyst Inc works tirelessly to foster a thriving tech ecosystem in the region.
Official website here: www.innovationcatalyst.us
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75%, Three-Star out of Four Star rating.
Innovation Catalyst Inc has received a solid score of 75%, reflecting a commendable level of accountability and financial management. The organization excels in governance, with a fully independent board and no material diversions of assets. Additionally, it has strong policies in place regarding conflict of interest, whistleblowing, and document retention, contributing positively to their overall rating.
Despite these strengths, the program expense ratio stands at 64.72%, yielding a moderate score in that area, indicating that a portion of its funds may be going towards administrative costs rather than direct program impact. While the salary of the CEO is reported at $178,000, it is essential for potential donors to consider how administrative expenses align with the organization’s mission and effectiveness.
Overall, Innovation Catalyst Inc demonstrates transparency and good governance practices, which are vital for building trust with donors and stakeholders. However, potential contributors should weigh the program expense ratio against their philanthropic goals to ensure alignment with their values.
This AI summary has been generated from information found on Charity Navigator.
Is Innovation Catalyst Inc legitimate?
Innovation Catalyst Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Innovation Catalyst Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $89,787
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.innovationcatalyst.us
What is the mission statement of Innovation Catalyst Inc?
Innovation Catalyst Inc's mission is centered around accelerating the growth of a technology-driven economy. They achieve this by identifying, educating, and connecting various key players in the Louisiana tech industry, including entrepreneurs, investors, universities, government agencies, and businesses. This organization aims to foster a supportive and collaborative environment, fostering growth and development in the technology sector. To achieve this goal, they administer the Catalyst Fund, a non-profit evergreen seed fund that makes 3-4 investments each year in high-impact, early-stage startups in Louisiana. This strategic approach is designed to stimulate innovation and drive economic growth within the technology sector.
Official website here: www.innovationcatalyst.us
Who is the CEO of Innovation Catalyst Inc?
William Ellison is the Ceo of Innovation Catalyst Inc. The CEO's salary of Innovation Catalyst Inc is $89,787 and their total compensation is $179,574.
Official website here: www.innovationcatalyst.us
What is the revenue of Innovation Catalyst Inc?
Innovation Catalyst Inc's revenue in 2020 was $173,034.
Official website here: www.innovationcatalyst.us
Who are the executives of Innovation Catalyst Inc and what are their salaries?
The average compensation at Innovation Catalyst Inc during 2020 was $89,787. There is 1 employee at Innovation Catalyst Inc.
Here are 7 key members and their salaries (Innovation Catalyst Inc's CEO's salary is $89,787 and their total compensation is $179,574):
- Compensation: $89,787
- Related: $89,787
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.innovationcatalyst.us
Where can I find the form 990 for Innovation Catalyst Inc?
Innovation Catalyst Inc's most recent form 990 was submitted in 2020 and can be accessed here.
Official website here: www.innovationcatalyst.us
Learn more at the official website: www.innovationcatalyst.us
Mission Statement of Innovation Catalyst Inc
Innovation Catalyst Inc, a non-profit organization, is committed to accelerating the growth of Louisiana's technology-driven economy. They achieve this by identifying, educating, and connecting entrepreneurs, investors, universities, government agencies, and businesses. The organization's mission is to foster a dynamic ecosystem where these entities can collaborate and thrive, ultimately driving innovation and economic development in the technology sector.
To execute this mission, Innovation Catalyst Inc has established The Catalyst Fund, a non-profit evergreen seed fund. This fund aims to make three to four investments each year in early-stage Louisiana startups that exhibit high-impact potential. By providing these startups with the necessary capital and resources, Innovation Catalyst Inc is helping to nurture the next generation of technology companies in Louisiana, ultimately contributing to the growth of the state's technology-based economy.
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Impact
October, 2024
Innovation Catalyst Inc has made significant strides in stimulating the growth of Louisiana's technology-based economy. By identifying, educating, and connecting key players—entrepreneurs, investors, universities, government agencies, and businesses—it fosters a collaborative environment that nurtures innovation and entrepreneurship.
One of its key initiatives, The Catalyst Fund, embodies this commitment by making 3-4 strategic investments each year in early-stage, high-impact startups within the region. This targeted support not only facilitates the development of promising ventures but also encourages the flow of capital and resources essential for sustainable growth. Through its efforts, Innovation Catalyst Inc plays a vital role in creating a robust ecosystem that empowers local startups, drives economic development, and enhances community improvement in Louisiana.
This information is meant to be a general summary of Innovation Catalyst Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2020.
- Gross Receipts: $173,034
Assets and Liabilities:
- Total Assets: $3,234,667
- Total Liabilities: $280,616
- Net Assets: $2,954,051
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Organization Details
Founding Year
2012
Phone
(225) 215-2465Principal Officer
William Ellison
Main Address
7117 FLORIDA BLVD, BATON ROUGE, LA, 708064549
Website
www.innovationcatalyst.usNTEE Category
Code: S30 - Community improvement
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