Innovation Catalyst Inc

Nonprofit profile at a glance

EIN
462219934
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Baton Rouge, LA, USA
Phone
2252152465
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$162,977
Expenses
$276,401
Assets
$248,567
Liabilities
$491,766

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

Leadership & pay

7 people listed

Executive titles in this filing

  • WILLIAM ELLISON (CEO)

People named in this filing

  • WILLIAM ELLISON (CEO)
  • VENEETH IYENGAR (BOARD CHAIRMAN)
  • STEPHANIE CARGILE (Director)

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

To accelerate the growth of the Louisiana technology-based economy by identifying, educating and connecting entrepreneurs, investors, universities, government agencies and businesses.

What it reported doing in 2024

Women & minority support: cultivate high potential women and minority entrepreneurs, increasing their awareness and access of programs in entrepreneurship, computer science and engineering.

Operating model

Revenue model
Affiliate-supported. 94% of the money available for current operations came from contributions from related organizations.
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 related-organization disclosures are missing and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 78
  • Accountability: 100
  • Sustainability: 21
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.6%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 86.7%; rating input score 87; 3rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -69.6%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.9; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 1.98; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -1.2% per year; rating input score 0; 26th percentile among comparable filings
  • Revenue growth: -15.5% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -7.3% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81.6% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $226K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 23 of 25 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes related organizations
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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.

  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.