Innovation Catalyst Inc
- Assets
- $24.2k
- Revenue
- $20.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Baton Rouge, LA
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 46-2219934
Organization Overview
Innovation Catalyst Inc is located in Baton Rouge, LA. The organization was established in 2014. 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. Innovation Catalyst Inc 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, Innovation Catalyst Inc generated $20.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (33.7%) each year. All expenses for the organization totaled $142.9k during the year ending 12/2022. 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
TO ACCELERATE THE GROWTH OF THE LOUISIANA TECHNOLOGY-BASED ECONOMY BY IDENTIFYING, EDUCATING AND CONNECTING ENTREPRENEURS, INVESTORS, UNIVERSITIES, GOVERNMENT AGENCIES AND BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CATALYST FUND: A NON-PROFIT EVERGREEN SEED SLATED TO MAKE 3-4 INVESTMENTS PER YEAR IN EARLY-STAGE HIGH IMPACT LOUISIANA STARTUPS.
WOMEN & MINORITY SUPPORT: CULTIVATE HIGH POTENTIAL WOMEN AND MINORITY ENTREPRENEURS, INCREASING THEIR AWARENESS AND ACCESS OF PROGRAMS IN ENTREPRENEURSHIP, COMPUTER SCIENCE AND ENGINEERING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Ellison CEO | OfficerTrustee | 20 | $87,289 |
Veneeth Iyengar Board Chairman | Trustee | 0.5 | $0 |
Stephanie Cargile Director | Trustee | 0.5 | $0 |
Michael Moles Director | Trustee | 0.5 | $0 |
Jim Odom Director | Trustee | 0.5 | $0 |
Preston Castille Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,072 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,985 |
| Noncash contributions included in lines 1a–1f | $11,985 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,057 |
| Total Program Service Revenue | $0 |
| Investment income | $3 |
| 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 | $20,060 |
| 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. | $87,289 |
| 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 | $5,719 |
| Fees for services: Management | $7,616 |
| Fees for services: Legal | $4,134 |
| Fees for services: Accounting | $13,642 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $524 |
| Information technology | $3,645 |
| Royalties | $0 |
| Occupancy | $4,369 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $290 |
| Conferences, conventions, and meetings | $726 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $250 |
| Insurance | $13,052 |
| All other expenses | $35 |
| Total functional expenses | $142,854 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,834 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,540 |
| 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 | $3,759 |
| Net Land, buildings, and equipment | $83 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,216 |
| Accounts payable and accrued expenses | $20,314 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,933 |
| Total liabilities | $40,247 |
| Net assets without donor restrictions | -$16,031 |
| 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 | $24,216 |