Independent Television Festival Inc

Nonprofit profile at a glance

EIN
204198589
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-N 2012
Location
Rosemount, MN, USA
Phone
2182080140
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$74,405
Expenses
$156,317
Assets
$33,367
Liabilities
$833,385

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

Leadership & pay

7 people listed

Executive titles in this filing

  • PHILIP GILPIN JR (CEO/EXECUTIVE DIRECTOR)

Highest reported compensation

  • PHILIP GILPIN JR (CEO/EXECUTIVE DIRECTOR): $22,917 total reported compensation

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

Overview

Mission

Catalyst is a champion of independent artists and a curator of narrative stories whose mission is to advance artistic careers, and audio, visual and literary works.

What it reported doing in 2024

Educational courses on a variety of industry topics including acting, writing, directing, producing, cinematography, and crew jobs were held throughout the year, in addition to in-person classes, panels and networking events. The institute had over 100 individuals partaking in various virtual and in-person offerings throughout the year. We expanded our offerings to new orleans, Louisiana in partnership with eross studios and dillard university. We also began our first in-person courses internationally with acting and writing classes held in tirana, albania.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 14
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.9%; rating input score 90
  • 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; 64th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: -110.1%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 24.98; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 14.7%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 4.1% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 15.2% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.9% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $140K in reported program spending
  • Leadership: top reported pay $23K · 7 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.