Twin Cities Catalyst Music Inc
- Assets
- $144.7k
- Revenue
- $298.8k
- Investments
- $0.0
- Employees
- 58
- Location
- Burnsville, MN
- Founding
- 04/2015
- Data as of
- 12/2023
- EIN
- 47-2182792
Organization Overview
Twin Cities Catalyst Music Inc is located in Burnsville, MN. The organization was established in 2015. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Twin Cities Catalyst Music Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Twin Cities Catalyst Music 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 12/2023, Twin Cities Catalyst Music Inc generated $298.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $411.6k during the year ending 12/2023. While expenses have increased by 9.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TWIN CITIES CATALYST MUSIC CATALYZES THE CREATIVE AND PROFESSIONAL POTENTIAL OF YOUNG PEOPLE IN THE MUSIC INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CATALYST FULFILLS ITS MISSION THROUGH THE GARAGE IN BURNSVILLE, THE ALL AGES (NO 18+ OR 21+ RESTRICTIONS), SUBSTANCE-FREE, LIVE MUSIC VENUE, RECORDING STUDIO, AND EDUCATIONAL CENTER. IN ADDITION TO LIVE PERFORMANCES, THE ORGANIZATION OFFERS VIRTUAL AND IN-PERSON FREE YEAR-ROUND MUSIC EDUCATION PROGRAMS FOCUSED ON SONGWRITING, PERFORMANCE, RECORDING, VIDEOGRAPHY, AND MUSIC PRODUCTION. SINCE 2015, CATALYST HAS PRESENTED OVER 500 LIVE PERFORMANCES FOR A COLLECTIVE AUDIENCE OF MORE THAN 50,000 INDIVIDUALS WHILE WORKING WITH OVER 2,000 YOUNG ASPIRING ARTISTS THROUGH VARIOUS FREE MENTORING AND PERFORMANCE OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Mammenga Executive Director | Officer | 40 | $45,866 |
Carl Atiya Swanson Co President | OfficerTrustee | 1 | $0 |
Stacey Supina Co President | OfficerTrustee | 1 | $0 |
James Taylor Vice President | OfficerTrustee | 1 | $0 |
Joel Walters Treasurer | OfficerTrustee | 1 | $0 |
Shannon Robinson Past President Ex Officio | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $88,292 |
| All other contributions, gifts, grants, and similar amounts not included above | $119,596 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $207,888 |
| Total Program Service Revenue | $74,402 |
| Investment income | $3,248 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,249 |
| 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 | $298,787 |
| 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. | $45,866 |
| Compensation of current officers, directors, key employees. | $13,760 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $220,331 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,206 |
| Payroll taxes | $20,121 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,617 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $12,775 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,528 |
| Advertising and promotion | $1,048 |
| Office expenses | $21,126 |
| Information technology | $3,103 |
| Royalties | $0 |
| Occupancy | $10,938 |
| Travel | $1,124 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,684 |
| Interest | $170 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,062 |
| Insurance | $9,930 |
| All other expenses | $0 |
| Total functional expenses | $411,629 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,271 |
| Savings and temporary cash investments | $27,976 |
| Pledges and grants receivable | $19,761 |
| Accounts receivable, net | $0 |
| 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 | $3,531 |
| Net Land, buildings, and equipment | $37,190 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $144,729 |
| Accounts payable and accrued expenses | $6,940 |
| 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 | $6,599 |
| Other liabilities | $0 |
| Total liabilities | $13,539 |
| Net assets without donor restrictions | $85,175 |
| Net assets with donor restrictions | $46,015 |
| 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 | $144,729 |