Catapultian Foundation Inc

Nonprofit profile at a glance

EIN
463073207
IRS 990 coverage
2014–2017
Forms available
Form 990 2017
Location
Schenectady, NY, USA
Phone
5183465481
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$8,579
Expenses
$18,035
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • JOSIAH KOVLER (PRESIDENT)

People named in this filing

  • JOSIAH KOVLER (PRESIDENT)
  • JOSEPH KOVLER (TREASURER)

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 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide grants and below-market loans to not-for-profit, section 501(c)(3) organizations to be used by those awardees in projects that meet IRS criteria for program-related investments, whether or not those awardees are provate foundations for federal tax purposes. The foundation will consider a wide variety of potential funding projects, including: advancing housing for low-income persons, supporting employment opportunities in rural and inner-city communities, supporting employment oportunities for persons who are developmentally or physically disabled, and elimination of race and/or gender-based barriers to enterprise development.

What it reported doing in 2017

To provide grants and below-market loans to not-for-profit organizations to be used by awardees in projects that meet IRS criteria for program-related investments, whether or not those awardees are private foundations for federal tax purposes. The foundation will consider a wide variety of potential funding projects including advancing housing for low-income persons, supporting employment opportunities in rural and inner-city communities, supporting employment opportunities for persons who are developmentally or physically disabled, and elimination of race and/or gender-based barriers to enterprise development.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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 the required major-donor schedule is missing or incomplete.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 77
  • Accountability: 18
  • Sustainability: 15
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 78.4%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: No; rating input score 0
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -110.2%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 38.4% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: -15.5% per year; rating input score 0; 28th percentile among comparable filings
  • Asset growth: -42.7% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 78.4% of spending went to programs
  • Governance: 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $14K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2014 to 2017
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.