Overview
What is Catalyst Community Capital Inc?
Catalyst Community Capital Inc, situated in St. Petersburg, Florida, is a nonprofit organization dedicated to stimulating economic growth and revitalizing low-income communities. They achieve this by boosting the circulation of capital to small businesses and mission-driven developers and organizations. Their lending activities include real estate acquisition and construction loans, small business and microenterprise loans, working capital, term loans, and bridge loans. This financing enables their borrowers to expand their businesses, generate job opportunities, and improve wages for local residents. Additionally, Catalyst Community Capital Inc contributes to increasing the availability of affordable housing and establishing much-needed community facilities for low-income households. The organization operates with a relatively small team of five employees.
Official website here: www.catalystimpact.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star Rating, 66%)
Catalyst Community Capital Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement in its operations and transparency. The overall score of 66% reflects strengths in governance, such as having a fully independent board and strong policies regarding conflict of interest and whistleblowing. However, significant weaknesses were noted in financial reporting, particularly in the lack of posted financial statements and the liabilities to assets ratio, which contributed to its overall rating.
The organization has demonstrated accountability through its independent board and various policies that meet best practices. Despite these strengths, the absence of accessible financial statements and transparency in asset management raises concerns about its financial health and operational oversight. This lack of accessible information may deter potential donors who prioritize transparency when deciding where to contribute.
In summary, while Catalyst Community Capital Inc exhibits solid governance structures, its financial transparency issues and overall low accountability score indicate areas that require urgent attention and improvement. Enhanced financial disclosures could help build trust and support from the community and potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Catalyst Community Capital Inc legitimate?
Catalyst Community Capital Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Catalyst Community Capital 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: $158,786
Professional Fundraising Fees: $0
Other Salaries and Wages: $27,876
For more financial information, click here
Official website here: www.catalystimpact.org
What is the mission statement of Catalyst Community Capital Inc?
Catalyst Community Capital Inc's mission is centered around stimulating economic growth and revitalizing low-income communities. They achieve this by enhancing the circulation of capital to small businesses, mission-driven developers, and organizations. This influx of funds plays a crucial role in supporting job creation and retention, increasing wages, expanding the availability of affordable housing, and establishing necessary community facilities to cater to low-income households. By providing various types of loans such as real estate acquisition and construction loans, small business loans, and working capital, Catalyst Community Capital Inc empowers its borrowers to thrive and improve the livelihoods of the communities they serve.
Official website here: www.catalystimpact.org
Who is the CEO of Catalyst Community Capital Inc?
Michael Maguire is the Ceo/ Board Member of Catalyst Community Capital Inc. The CEO's salary of Catalyst Community Capital Inc is $41,478 and their total compensation is $41,478.
Official website here: www.catalystimpact.org
What is the revenue of Catalyst Community Capital Inc?
Catalyst Community Capital Inc's revenue in 2022 was $805,577.
Official website here: www.catalystimpact.org
Who are the executives of Catalyst Community Capital Inc and what are their salaries?
The average compensation at Catalyst Community Capital Inc during 2022 was $37,332. There are 5 employees at Catalyst Community Capital Inc.
Here are 7 key members and their salaries (Catalyst Community Capital Inc's CEO's salary is $41,478 and their total compensation is $41,478):
- Compensation: $41,478
- Related: $0
- Other: $0
- Compensation: $117,308
- 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.catalystimpact.org
Where can I find the form 990 for Catalyst Community Capital Inc?
Catalyst Community Capital Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.catalystimpact.org
Learn more at the official website: www.catalystimpact.org
Mission Statement of Catalyst Community Capital Inc
Catalyst Community Capital Inc, as an organization, is dedicated to fostering economic growth and revitalizing low-income communities. They achieve this by increasing the circulation of capital to small businesses, mission-driven developers, and organizations. By providing various types of loans, including real estate acquisition and construction loans, small business and microenterprise loans, working capital, term loans, and bridge loans, Catalyst Community Capital Inc ensures that its borrowers have the necessary resources to expand their businesses. This, in turn, supports job creation and retention, increases wages for residents, expands the availability of affordable housing, and creates much-needed community facilities to serve low-income households. In essence, Catalyst Community Capital Inc is a catalyst for economic development and improvement in underprivileged communities.
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Impact
July, 2024
Catalyst Community Capital Inc's impact is evident in its commitment to economic growth and revitalization of low-income communities. By increasing the flow of capital to small businesses and mission-driven developers and organizations, Catalyst is actively supporting job creation and retention, boosting wages for residents, expanding the availability of affordable housing, and facilitating the creation of essential community facilities. This dedication to community improvement is reflected in Catalyst's lending activities, which include providing real estate acquisition and construction loans, small business and microenterprise loans, working capital, term loans, and bridge loans to ensure that borrowers have the resources necessary for growth and success. Through its efforts in St. Petersburg, FL, Catalyst is making a significant difference in uplifting underserved communities and fostering sustainable development.
This information is meant to be a general summary of Catalyst Community Capital 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 2022.
- Investment Income: $445,797
- Program Service Revenue: $219,016
- Gross Receipts: $2,055,709
Assets and Liabilities:
- Total Assets: $654,688
- Total Liabilities: $1,090,098
- Net Assets: -$435,410
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL FROM PROG. INV.
Revenue
$141,750
ORIGINATION FEES
Revenue
$77,266
Organization Details
Founding Year
2018
Phone
(813) 670-3223Principal Officer
Michael Maguire
Main Address
200 MIRROR LAKE DRIVE NORTH, ST PETERSBURG, FL, 33701
Website
www.catalystimpact.orgNTEE Category
Code: S30 - Community improvement
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