Catalyst Community Partners
Nonprofit profile at a glance
- EIN
- 261870077
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Minneapolis, MN, USA
- Phone
- 6128774000
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Economic Development
Reported finances
- Revenue
- $284,765
- Expenses
- $437,467
- Assets
- $1,734,385
- Liabilities
- $1,466,418
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
People named in this filing
- STUART ACKERBERG (BOARD CHAIR)
- WADE ANDERSON (DIRECTOR)
- JACKIE KNIGHT (SECRETARY)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Catalyst community partners (catalyst) revitalizes distressed commercial corridors by developing vacant properties and cultivating sustainable businesses that enhance livability and provide neighborhood jobs. Catalyst began its north minneapolis revitalization work in 2004 and incorporated as a 501(c)(3) nonprofit organization in january 2008. Catalyst focuses on commercial property revitalization, business development and community engagement.
What it reported doing in 2024
Commercial property revitalization since 2004, catalyst has completed 12 commercial projects in the west broadway area of north minneapolis, more than any other organization. Catalyst brings blighted, often historic properties back into service and creates jobs for local and minority construction workers. In the years 2008-2021, catalyst projects have achieved 45 to 54 percent minority participation, triple the standard rate for commercial projects. Catalyst sets high standards of excellence, incorporating public art, safety improvements, architecturally designed facades and quality materials into every project. Its projects have received eight awards of excellence including "2011 naiop award of excellence for mixed-use", presented in 2012. Catalyst owned and managed three commercial properties, representing nearly 42,000 square feet and 9 tenants in the west broadway area. During the year ended december 31, 2021, catalyst sold the unity and 1200 west broadway buildings. Catalyst also assists existing property owners and third party developers in completing their projects with high-quality community standards.
Operating model
- Revenue model
- Earned-program. 67% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 90
- Accountability: 88
- Sustainability: 33
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 75.7%; rating input score 76
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -53.6%; rating input score 5; 5th percentile among comparable filings
- Total-asset coverage ratio: 3.96; rating input score 75; 75th percentile among comparable filings
- Liabilities to assets ratio: 0.85; rating input score 6; 6th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: -8.4% per year; rating input score 0; 12th percentile among comparable filings
- Revenue growth: -4% per year; rating input score 0; 12th percentile among comparable filings
- Asset growth: -6.9% per year; rating input score 0; 8th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 75.7% of spending went to programs
- Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
- Programs: 3 filed program accomplishments · $331K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 18 of 18 current checks pass
- Schedules: 5 filed schedules
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Sustainability: Operating margin scored 5/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 6/100.