Catapult Lakeland Inc is located in Lakeland, FL. The organization was established in 2013. 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. As of 12/2022, Catapult Lakeland Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Catapult Lakeland 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, Catapult Lakeland Inc generated $1.5m 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 (5.7%) each year. All expenses for the organization totaled $1.7m 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
PART 1, LINE 1 - DESCRIPTION OF ORGANIZATION MISSION: THROUGH EDUCATIONAL AND MENTORING PROGRAMS, CATAPULT, INC. PROVIDES AN ATMOSPHERE FOR EDUCATION, MENTORING, TRAINING, AND ACCELERATING INNOVATIVE IDEAS TO HELP ENTREPRENEURS LEARN HOW TO BUILD STRONGER, SUCCESSFUL BUSINESSES. CATAPULT PROVIDES EDUCATIONAL OPPORTUNITIES AND RESOURCES THAT ALLOW ENTREPRENEURS TO PITCH AND FLUSH OUT IDEAS TO CATAPULT THEIR BUSINESSES TO THE NEXT LEVEL, AS WELL AS IDENTIFY TECHNOLOGIES OR BUSINESS GAPS, AND PROVIDE VALUE-ADDED SOLUTIONS. CATAPULT IS A PLACE WHERE IDEAS CAN BE SHARED AND PROBLEMS CAN BE SOLVED IN AN ENTREPRENEURIAL CULTURE THAT ENCOURAGES AND FOSTERS INNOVATION FOR THE BETTERMENT OF THE LAKELAND COMMUNITY. THE WORKSPACE IS HOME BASE FOR ALL OF THE COWORKING, DESK, AND OFFICE MEMBERS. WHILE MEMBERSHIP RATES ARE RELATIVELY INEXPENSIVE, THIS SPACE IS DESIGNED TO BE MORE THAN CHEAP OFFICE SPACE. IT IS AN INTENTIONAL COMMUNITY TO SUPPORT FOUNDERS AS THEY GROW THEIR STARTUP. MAKERSPACE: COMPLE
Describe the Organization's Program Activity:
Part 3 - Line 4a
CATAPULT ENGAGES AND EQUIPS LOCAL ENTREPRENEURS, ARTISANS, AND EMERGING LEADERS WITH A VARIETY OF TOOLS TO CREATE A COMMUNITY THAT IS STRONGER, MORE DISTINCTIVE, AND SUSTAINABLE. CATAPULT'S PROGRAM AND OPERATING COSTS ARE FUNDED BY PRIVATE INDIVIDUALS, FOUNDATIONS, AND EARNED REVENUE. ALL PROGRAMS TAKE PLACE IN LAKELAND, FL. AS THE CITY OF LAKELAND GROWS IN NUMBER, IT IS CATAPULT'S VISION TO SEE THE CREATION OF A THRIVING ENTREPRENEURIAL-MINDED COMMUNITY. WE WANT TO ASSIST IN THE CREATION AND GROWTH OF COMPANIES THAT ARE GOING TO ADD TO LAKELAND'S DIVERSE INDUSTRY BASE, PROVIDE ADDITIONAL JOBS TO OUR GROWING POPULATION, CONTRIBUTE TO THE OVERALL ENHANCEMENT OF THE CITY'S QUALITY OF LIFE, AND FILL VACANT STOREFRONTS IN OUR CITY. CATAPULT FOSTERS THE GROWTH OF STARTUPS BY LISTENING TO MEMBERS' NEEDS AND CONNECTING THEM WITH RESOURCES TO HELP THEM GROW THEIR BUSINESSES. PEOPLE WITH VARYING BACKGROUNDS AND DIFFERENT DREAMS ALL COME TOGETHER BECAUSE OF THEIR SHARED PASSION TO START SOMETHING NEW. THROUGH A MEMBERSHIP AT CATAPULT, STARTUP FOUNDERS GET ACCESS TO RESOURCES TO PROPEL THEIR BUSINESS FORWARD THROUGH THREE MAIN MEMBERSHIP TYPES. MEMBER STATS APPLICANTS - 466 MEMBERS - 268 AVERAGE AGE - 41 FEMALE - 40% DIVERSE - 35%
SINCE CATAPULT IS HOME TO A VARIETY OF BUSINESSES, WE FELT THE NEED TO HONE IN ON THE STARTUPS THE WE CAN BEST SERVE, RATHER THAN ATTEMPTING TO BE EVERYTHING TO EVERYONE. WITH AN INITIAL GOAL OF DISCOVERING THE MEMBERS THAT ARE MOST ALIGNED WITH CATAPULT'S MISSION, THIS SHIFT HAS ALLOWED US TO BUILD MORE TARGETED RESOURCES. MISSION-FIT MEMBERS HAVE COACHABLE MINDSETS AND ARE BUILDING STARTUPS THAT ARE INNOVATIVE AND SCALABLE. MISSION-FIT MEMBERS ARE IN THE WORKSPACE, KITCHEN, AND MAKERSPACE. THEY ARE IN ALL STAGES OF BUSINESS WITH VARIOUS BACKGROUNDS BUT FIND COMMON GROUND OVER A DESIRE TO GROW ON A LOCAL, NATIONAL, OR GLOBAL SCALE. IN ORDER TO SUPPORT MISSION-FIT MEMBERS IN A VARIETY OF DIFFERENT INDUSTRIES, CATAPULT FACILITATES EDUCATION THROUGH A ONE-ON-ONE MENTORSHIP MODEL. THIS PROGRAM CONNECTS FOUNDERS THAT ARE HUNGRY TO LEARN WITH INDUSTRY EXPERTS THAT ARE WILLING TO SHARE ADVICE. EXPERTS IN RESIDENCE TECHNICAL ADVISORS ARE HIRED BY CATAPULT TO PROVIDE HELP IN KEY BUSINESS AREAS. THEY HAVE A PRESENCE AT CATAPULT, WHETHER IN-PERSON OR ONLINE, FOR SEVERAL HOURS PER WEEK AND ARE OFTEN AVAILABLE FOR FOLLOW-UP MEETINGS. TECHNICAL ADVISORS ARE HIRED BY CATAPULT TO PROVIDE HELP IN KEY BUSINESS AREAS. THEY HAVE A PRESENCE AT CATAPULT, WHETHER IN-PERSON OR ONLINE, FOR SEVERAL HOURS PER WEEK AND ARE OFTEN AVAILABLE FOR FOLLOW-UP MEETINGS. HAVE NICHE EXPERTISE AND CAN PROVIDE TANGIBLE, SITUATION-SPECIFIC ADVICE TO FOUNDERS ON A ONE-OFF BASIS. THEY VOLUNTEER UP TO TWO HOURS A MONTH TO MEET WITH STARTUP FOUNDERS WHO ARE RECOMMENDED BY CATAPULT'S STAFF. THE LIST OF TECHNICAL ADVISORS IS CONSTANTLY GROWING. LAUNCH LAUNCH IS A COMMUNITY-BASED EFFORT LEAD, AND FUNDED, BY LOCAL FINANCIAL INSTITUTIONS TO CATAPULT THAT IS CREATED TO ASSIST LOCAL ENTREPRENEURS. LAUNCH'S GOAL IS TO HELP LAKELAND ENTREPRENEURS TAKE THEIR BUSINESS CONCEPT TO THE NEXT LEVEL. LAUNCH WILL DO THIS BY PROVIDING GRANTS TO ENTREPRENEURS WHO CAN SUCCESSFULLY PITCH THEIR CONCEPTS TO LAUNCH'S TEAM. PITCH SESSIONS - ARE HELD 2 TO 3 TIMES PER YEAR AT CATAPULT. APPLICATIONS ARE AVAILABLE ONLINE AT CATAPULTLAKELAND.COM. ADVISORY BOARD MEMBERS ATTEND PITCH SESSIONS, GIVE THEIR INPUT IN A CLOSED-DOOR SESSION FOLLOWING THE PITCHES AND THE PITCH JUDGES WILL VOTE ON GRANT AWARDS. THE PUBLIC IS INVITED TO ATTEND PITCH SESSIONS. IT'S LIKE SHARK TANK, BUT WITH HAPPY PEOPLE.
CATAPULT'S MENTOR PROGRAM FACILITIES ONE-ON-ONE RELATIONSHIPS THAT ARE MUTUALLY BENEFICIAL TO BOTH MENTOR AND MENTEE. THESE INDIVIDUAL RELATIONSHIPS RESULT IN PERSONAL AND PROFESSIONAL ACCOMPLISHMENTS FOR BOTH PARTIES. ALL OTHER ASPECTS OF THE PROGRAM INHERENTLY SUPPORT THE RELATIONSHIP AND WELL-ROUNDED DEVELOPMENT OF THE MENTEE. PROGRAMS: DEMO DAY EIGHT HIGH-GROWTH STARTUPS GAVE A BEHIND-THE-SCENES LOOK INTO THEIR COMPANIES WHILE SHARING HOW THE COMMUNITY CAN SUPPORT THEM. MEMBER MARKETS IN TANDEM WITH SIGNATURE CITY OF LAKELAND EVENTS, WE HOSTED MARKETS WHERE MEMBERS SOLD PRODUCTS TO DOWNTOWN EVENT ATTENDEES. KITCHEN MEMBERS UTILIZED CATAPULT'S POP-UP WINDOW TO SELL THEIR FOOD TO MEMBERS AND THE GENERAL PUBLIC. 1 EVENT COORDINATOR: WE ADDED A FULL TIME STAFF MEMBER TO FACILITATE RENTALS AND PLAN EVENTS. 25 FROM SPEED NETWORKING TO EXPERT WORKSHOPS, MEMBERS HAD OPPORTUNITIES TO CONNECT AND GROW. CATAPULT'S EVENTS: 5,963 NON-MEMBER RENTALS FOR MEETINGS HELP TO SUBSIDIZE OUR OPERATIONS. TAMPABAY.VENTURES PITCH NIGHT VENTURE CAPITAL FIRM, TAMPABAY.VENTURES SHOWED INTEREST IN CATAPULT STARTUPS DURING A PITCH EVENT HOSTED IN THE WORKSPACE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Hoyt Barnett Director | Trustee | 1 | $0 |
Wesley Beck Treasurer | OfficerTrustee | 1 | $0 |
Leila Blacking Chairman | OfficerTrustee | 1 | $0 |
David Hallock Jr Director | Trustee | 1 | $0 |
Stephanie Madden Vice Chairma | OfficerTrustee | 1 | $0 |
Callie Neslund Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $533,168 |
Fundraising events | $0 |
Related organizations | $75,000 |
Government grants | $339,007 |
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 | $947,175 |
Total Program Service Revenue | $582,789 |
Investment income | -$30,382 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $7,246 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,506,846 |
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 | $451,448 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $104,788 |
Payroll taxes | $32,880 |
Fees for services: Management | $0 |
Fees for services: Legal | $2,934 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $29,243 |
Office expenses | $236,924 |
Information technology | $55,491 |
Royalties | $0 |
Occupancy | $0 |
Travel | $2,977 |
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 | $280,972 |
Insurance | $50,775 |
All other expenses | $0 |
Total functional expenses | $1,706,392 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,004,004 |
Savings and temporary cash investments | $0 |
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 | $0 |
Net Land, buildings, and equipment | $10,087,743 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $207,527 |
Total assets | $12,299,274 |
Accounts payable and accrued expenses | $0 |
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 | $17,439 |
Total liabilities | $17,439 |
Net assets without donor restrictions | $12,199,219 |
Net assets with donor restrictions | $82,616 |
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 | $12,299,274 |