Catapult Lakeland Inc

Nonprofit profile at a glance

EIN
800945525
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Lakeland, FL, USA
Phone
8639409660
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$1,656,711
Expenses
$1,770,921
Assets
$12,097,602
Liabilities
$3,868

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • CHRISTIN STRAWBRIDGE (PRESIDENT)

Highest reported compensation

  • CHRISTIN STRAWBRIDGE (PRESIDENT): $103,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Catapult lakeland, inc. A community-centered entrepreneur center located in lakeland, fl. We aim to foster the growth of startups in the lakeland, fl and central Florida area and maintain their success through affordable membership, thoughtful education, and funding to drive local business forward. Catapult lakeland, inc. Is a place where entrepreneurs can flourish and develop ideas that result in establishing and growing businesses in the lakeland, Florida area through education and mentoring opportunities. Over the years, our staff has been laser-focus on building a state-of-the- art facility. Led by christin strawbridge and a wonderful team of collaborators, this building allows us to better serve lakeland's entrepreneurs and accomplish our mission of fostering the growth of startups in lakeland by providing affordable space, thoughtful education, and funding opportunities. Our mission is to increase the viability of startups and catapult was created to help facilitate growth for la

What it reported doing in 2024

Catapult lakeland, inc. Engages and equips local entrepreneurs, artisans, and emerging leaders with a variety of tools and resources 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, Florida. As the city grows in number, it is our 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. Reflecting on 2024, we are filled with deep gratitude for this community and the inspiring work happening at catapult. Every day, we have the privilege of supporting entrepreneurs as they create, innovate, and adapt. Celebrating 10 years of catapult prompted us to take a deeper look at our impact by analyzing what is working and what is not, where we see the most momentum, and how we can best serve founders moving forward. Over the past decade, catapult has helped launch 55 startups into their own brick-and- mortar spaces, facilitated more than 400,000 in micro-grants, and provided hundreds of businesses with the resources to test and refine their ideas. Our members span diverse industries, but we've seen significant growth in culinary and manufacturing, two sectors where we continue to see strong momentum. With this in mind, we are doubling down on high-impact programming by focusing on industries and entrepreneurs who are ready to scale. Whether it's through our kitchen incubator, makerspace, or workspace, we remain committed to continuous learning and iteration, ensuring that founders have the tools, mentorship, and connections to turn their vision into reality. At our core, we exist to empower entrepreneurs to build thriving businesses that contribute to lakeland's economy. This includes supporting startups as they grow into storefronts, create jobs, and expand their market reach. None of this would be possible without the generosity of our donors, mentors, and community partners. Their support makes it possible for founders to reduce overhead costs, access valuable resources, and increase chances of long-term success.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - 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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 51
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.4%; rating input score 89
  • Program expense ratio: 82.9%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -6.9%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 6.83; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 11.5% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: -9% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 11.6% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 89.4% of revenue deployed · 82.9% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $104K · 11 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 21/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.