Catalytic Impact Foundation Inc
- Assets
- $1.0m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 3
- Location
- Hingham, MA
- Founding
- 01/2016
- Data as of
- 12/2023
- EIN
- 47-5334467
Organization Overview
Catalytic Impact Foundation Inc is located in Hingham, MA. The organization was established in 2016. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Catalytic Impact Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Catalytic Impact Foundation 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, Catalytic Impact Foundation Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.5% each year . All expenses for the organization totaled $791.5k during the year ending 12/2023. While expenses have increased by 24.8% per year over the past 7 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
TO USE PHILANTHROPIC FUNDS TO SUPPORT AND ACCELERATE INNOVATION IN LIFE SCIENCES AND HEALTHCARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE CATALYTIC IMPACT FOUNDATION IS TO ACCELERATE INNOVATION IN LIFE SCIENCES AND HEALTHCARE, TO ADDRESS AREAS OF HIGH UNMET MEDICAL NEED. CIF RAISES PHILANTRHOPIC FUNDS, AND THROUGH OUR DONOR ADVISED FUND ACCOUNT AT IMPACT ASSETS, STRATEGICALLY FUNDS EARLY-STAGE COMPANIES DEVELOPING TECHNOLOGIES TO SAVE OR IMPROVE LIVES. CIF HAS FUNDED MORE THAN 50 COMPANIES DEVELOPING CRITICAL SOLUTIONS FOR THE WORLDS MOST CHALLENGING DISEASES AND CONDITIONS. OUR OFF-BALANCE-SHEET ASSETS, THE EVERGREEN POOL OF PHILANTHROPIC CAPITAL, ARE USED FOR THIS PURPOSE AND SIT IN OUR DONOR ADVISED FUND ACCOUNT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Butler President | OfficerTrustee | 35 | $90,000 |
Richard Lipkin Treasurer | OfficerTrustee | 35 | $90,000 |
Rob Wolk Board Chair | OfficerTrustee | 5 | $0 |
Susana Frazao Pinhiero Secretary | OfficerTrustee | 2 | $0 |
Gwill York Director | Trustee | 1 | $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 | $1,288,350 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,288,350 |
| Total Program Service Revenue | $0 |
| Investment income | $8,816 |
| 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 | $1,297,166 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $250,000 |
| 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. | $180,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,114 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,882 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $705 |
| Office expenses | $5,269 |
| Information technology | $3,354 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,641 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $629 |
| Interest | $21,468 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,526 |
| All other expenses | $0 |
| Total functional expenses | $791,484 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $990,037 |
| Pledges and grants receivable | $0 |
| 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 | $509 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $10,723 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,001,269 |
| Accounts payable and accrued expenses | $87,679 |
| 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 | $146,203 |
| Unsecured mortgages and notes payable | $120,000 |
| Other liabilities | $0 |
| Total liabilities | $353,882 |
| Net assets without donor restrictions | $647,387 |
| 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 | $1,001,269 |