Innovation Catalyst Inc
- Assets
- $3.2m
- Revenue
- $173.0k
- Investments
- $3.0m
- Employees
- 1
- Location
- Baton Rouge, LA
- Founding
- 08/2014
- Data as of
- 12/2020
- 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 12/2020, Innovation Catalyst Inc generated $173.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (17.2%) each year. All expenses for the organization totaled $148.6k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (9.4%) per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO ACCELERATE THE GROWTH OF THE LOUISIANA TECHNOLOGY-BASED ECONOMY BY (CONT'D ON SCH. O) 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 FUND 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.
THE CATALYST FUND: A NON-PROFIT EVERGREEN SEED FUND 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 | $89,787 |
Veneeth Iyengar Board Chairman | Trustee | 0.5 | $0 |
Stephanie Cargile Director | Trustee | 0.5 | $0 |
Preston Castille Director | Trustee | 0.5 | $0 |
Michael Moles Director | Trustee | 0.5 | $0 |
Paige Carter Director | Trustee | 0.5 | $0 |
Financial Statements
| 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 | $173,034 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $173,034 |
| Total Program Service Revenue | $0 |
| 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 | $173,034 |
| 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. | $89,787 |
| 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 | $5,757 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,678 |
| Fees for services: Accounting | $18,621 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,063 |
| Advertising and promotion | $0 |
| Office expenses | $643 |
| Information technology | $1,664 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $30 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $236 |
| Insurance | $10,803 |
| All other expenses | $10 |
| Total functional expenses | $148,615 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $179,039 |
| 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 | $14,375 |
| Net Land, buildings, and equipment | $583 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,040,670 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,234,667 |
| Accounts payable and accrued expenses | $10,249 |
| 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 | $20,852 |
| Other liabilities | $249,515 |
| Total liabilities | $280,616 |
| Net assets without donor restrictions | $2,954,051 |
| 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 | $3,234,667 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Innovation Catalyst Inc has recieved totaling $1,037,000.
| Awarding Organization | Amount |
|---|---|
Research Park Corporation Baton Rouge, LA PURPOSE: TO CULTIVATE THE ENTREPRENEURIAL ENVIROMENT IN LOUISIANA'S NINE-PARISH CAPITAL REGION. | $1,037,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Arkansas Development Council Benton, AR | $22,711,775 | $63,852,394 |
Southern Mississippi Planning And Development District Inc Gulfport, MS | $44,385,657 | $33,837,059 |
Manned Space Flight Education Foundation Incorporated Houston, TX | $76,743,192 | $45,013,359 |
New Orleans & Company New Orleans, LA | $100,855,624 | $31,406,983 |
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
Saisd Historic Preservation Corporation San Antonio, TX | $3,795,273 | $2,962,141 |
Whole Planet Foundation Austin, TX | $10,584,602 | $6,202,281 |
East Central Planning & Development District Inc<410 Decatur St Newton, MS | $22,970,956 | $8,929,943 |
Frazier Revitalization Inc Dallas, TX | $12,774,298 | $14,569,658 |
Corpus Christi Area Convention And Tourist Bureau Inc Corpus Christi, TX | $2,305,137 | $5,577,829 |
Edinburg Economic Development Corporation Edinburg, TX | $67,135,031 | $9,281,578 |
Market Lubbock Economic Development Corporation Lubbock, TX | $8,726,484 | $8,303,064 |