Catalyst Community Partners is located in Minneapolis, MN. The organization was established in 2009. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Catalyst Community Partners is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Catalyst Community Partners generated $425.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.7%) each year. All expenses for the organization totaled $646.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CATALYST COMMUNITY PARTNERS IS A COMMUNITY DEVELOPER THAT REVITALIZES DISTRESSED COMMERCIAL CORRIDORS BY DEVELOPING VACANT PROPERTIES AND CULTIVATING SUSTAINABLE BUSINESSES THAT ENHANCE LIVABILITY AND PROVIDE NEIGHBORHOOD JOBS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMERCIAL PROPERTY REVITALIZATION SINCE 2004, CATALYST HAS COMPLETED 12 COMMERCIAL PROJECTS IN THE WEST BROADWAY AREA OF NORTH MINNEAPOLIS, MORE THAN ANY OTHER ORGANIZATION. CATALYST BRINGS BLIGHTED, OFTEN HISTORIC PROPERTIES BACK INTO SERVICE AND CREATES JOBS FOR LOCAL AND MINORITY CONSTRUCTION WORKERS. IN THE YEARS 2008-2021, CATALYST PROJECTS HAVE ACHIEVED 45 TO 54 PERCENT MINORITY PARTICIPATION, TRIPLE THE STANDARD RATE FOR COMMERCIAL PROJECTS. CATALYST SETS HIGH STANDARDS OF EXCELLENCE, INCORPORATING PUBLIC ART, SAFETY IMPROVEMENTS, ARCHITECTURALLY DESIGNED FACADES AND QUALITY MATERIALS INTO EVERY PROJECT. ITS PROJECTS HAVE RECEIVED EIGHT AWARDS OF EXCELLENCE INCLUDING "2011 NAIOP AWARD OF EXCELLENCE FOR MIXED-USE", PRESENTED IN 2012. CATALYST OWNED AND MANAGED THREE COMMERCIAL PROPERTIES, REPRESENTING NEARLY 42,000 SQUARE FEET AND 9 TENANTS IN THE WEST BROADWAY AREA. DURING THE YEAR ENDED DECEMBER 31, 2021, CATALYST SOLD THE UNITY AND 1200 WEST BROADWAY BUILDINGS. CATALYST ALSO ASSISTS EXISTING PROPERTY OWNERS AND THIRD PARTY DEVELOPERS IN COMPLETING THEIR PROJECTS WITH HIGH-QUALITY COMMUNITY STANDARDS.
BUSINESS DEVELOPMENT CATALYST'S REDEVELOPMENT EFFORTS BROUGHT AN ESTIMATED IN EXCESS OF 250 JOBS AND MORE THAN 40 EMPLOYERS TO NORTH MINNEAPOLIS IN THE PAST EIGHT YEARS. CATALYST'S KINDRED KITCHEN FOOD INCUBATOR PROGRAM SUPPORTS LOCAL FOOD ENTREPRENEURS IN LAUNCHING AND GROWING THEIR SMALL BUSINESSES. CATALYST ACTIVELY RECRUITS SUCCESSFUL RETAIL AND SERVICES BUSINESSES TO THE WEST BROADWAY CORRIDOR, EXPANDING LOW-SKILLED JOBS IDEALLY SUITED FOR NORTH MINNEAPOLIS' UNDER-EMPLOYED RESIDENTS WORKING CLOSELY WITH THE LOCAL BUSINESS ASSOCIATION AND SMALL BUSINESS SUPPORT ORGANIZATIONS, CATALYST ALSO ASSISTS EXISTING OWNERS IN IMPROVING THEIR BUSINESSES THROUGH PROPERTY RENOVATION EXPERTISE AND CATALYST'S LOAN FUND.
COMMUNITY ENGAGEMENT CATALYST PROMOTES A COMPREHENSIVE APPROACH TO COMMUNITY DEVELOPMENT BY FACILITATING A COMMUNITY DEVELOPMENT COMMITTEE AND COLLABORATING WITH MULTIPLE AGENCIES AND PARTNERS. CATALYST SUPPORTS AREA- WIDE PRIORITIES INCLUDING POST-TORNADO RECOVERY AND TRANSIT-ORIENTED DEVELOPMENT THROUGH ITS "BETTER TOGETHER" PROGRAM, OVER 5,000 VOLUNTEER HOURS HAVE CONTRIBUTED TOWARD COMMUNITY BEAUTIFICATION AND ENHANCEMENT PROJECTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Stuart Ackerberg Board Chair | OfficerTrustee | 2 | $0 |
Wade Anderson Director | OfficerTrustee | 2 | $0 |
Jackie Knight Secretary | OfficerTrustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $425,119 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $425,119 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $232,291 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $10,109 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $13,000 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $52,093 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $82,650 |
Insurance | $8,631 |
All other expenses | $77,782 |
Total functional expenses | $646,011 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $899,927 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $8,417 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $826 |
Net Land, buildings, and equipment | $1,706,975 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,616,145 |
Accounts payable and accrued expenses | $271,926 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $1,618,165 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $1,890,091 |
Net assets without donor restrictions | $726,054 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $2,616,145 |