Catalyst Inc
Catalyst Inc faces recent operating deficits despite substantial assets and a history of fluctuating revenues.
EIN: 131992402 · New York, NY · NTEE: Z99Z · Updated: 2026-03-28
Is Catalyst Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Catalyst Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Catalyst Inc
Catalyst Inc (EIN: 131992402) is a nonprofit organization based in New York, NY, classified under NTEE code Z99Z. The organization reported total revenue of $30.6M and total assets of $46.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Catalyst Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Catalyst Inc is a large nonprofit that has been operating for 62 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $20.1M |
| Total Expenses | $26.9M |
| Surplus / Deficit | $-6,786,133 |
| Total Assets | $50.1M |
| Total Liabilities | $15.6M |
| Net Assets | $34.4M |
| Operating Margin | -33.7% |
| Debt-to-Asset Ratio | 31.2% |
| Months of Reserves | 22.3 months |
Financial Health Grade: B
In 2023, Catalyst Inc reported a deficit of $6.8M with expenses exceeding revenue, holds 22.3 months of operating reserves (strong position), has a debt-to-asset ratio of 31.2% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Catalyst Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -8.3% | +19.0% | -2.5% |
| 2022 | -0.9% | +14.6% | -8.6% |
| 2021 | -18.7% | -5.1% | +2.3% |
| 2020 | -8.7% | +26.4% | +32.0% |
| 2019 | +107.1% | +14.0% | +50.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1964 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Catalyst Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Catalyst Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $6.8M, with expenses exceeding revenue.
- Debt-to-asset ratio: 31.2%.
Executive Compensation Analysis
The reported 0% officer compensation across all available filings is highly unusual for an organization of Catalyst Inc's size (latest revenue $30,593,299, assets $46,143,807) and suggests that executive compensation may be reported under different categories or through related entities, requiring further scrutiny to understand actual executive pay.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Catalyst Inc's IRS 990 filings:
- Consistent operating deficits in recent years (e.g., 2023 expenses $26,901,980 vs. revenue $20,115,847).
- Reported 0% officer compensation across all filings, which is highly unusual for an organization of this size.
- Significant decline in revenue from a peak of $29,826,959 in 2019 to $20,115,847 in 2023.
- Increasing liabilities in recent years (e.g., $11,254,074 in 2022 to $15,628,372 in 2023).
Strengths
The following positive indicators were identified for Catalyst Inc:
- Strong asset base ($46,143,807 latest) providing financial stability.
- Long history of consistent IRS 990 filings (13 filings), indicating transparency.
- Demonstrated ability to generate substantial revenue, with a peak of nearly $30 million.
- Assets consistently exceed liabilities, indicating good solvency.
Frequently Asked Questions about Catalyst Inc
Is Catalyst Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Catalyst Inc (EIN: 131992402) some concerns. Mission Score: 75/100. 4 red flags identified, 4 strengths noted.
How does Catalyst Inc spend its money?
Catalyst Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Catalyst Inc tax-deductible?
Catalyst Inc is registered as a tax-exempt nonprofit (EIN: 131992402). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Catalyst Inc a good charity?
Catalyst Inc exhibits strong asset reserves and a long history of financial reporting. However, recent operating deficits and the unusual 0% officer compensation reported across all filings warrant further investigation to fully assess its financial health and governance practices before a definitive 'good' or 'bad' judgment can be made.
Why is officer compensation reported as 0%?
The consistent reporting of 0% officer compensation for an organization with revenues in the tens of millions is highly unusual. This could indicate that compensation is paid through a related organization, that executives are volunteers, or that compensation is categorized differently in the provided summary data. A deeper dive into the full 990 forms would be necessary to clarify this.
What caused the significant revenue decline from 2019 to 2023?
Catalyst Inc's revenue peaked at $29,826,959 in 2019 and has since declined to $20,115,847 in 2023. The specific causes for this decline are not detailed in the provided data but could include changes in funding sources, economic conditions, or strategic shifts. This trend contributes to the recent operating deficits.
Are the recent operating deficits sustainable?
In 2023, expenses ($26,901,980) significantly exceeded revenue ($20,115,847). While the organization has substantial assets ($50,063,121 in 2023), sustained operating deficits will erode these reserves over time. It's crucial for Catalyst Inc to address this imbalance to ensure long-term financial stability.
Filing History
IRS 990 filing history for Catalyst Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Catalyst Inc's revenue has grown by 95%, moving from $10.3M to $20.1M. Total assets increased by 190.4% over the same period, from $17.2M to $50.1M. Total functional expenses rose by 173.4%, from $9.8M to $26.9M. In its most recent filing year (2023), Catalyst Inc reported a deficit of $6.8M, with expenses exceeding revenue. The organization holds $15.6M in liabilities against $50.1M in assets (debt-to-asset ratio: 31.2%), resulting in net assets of $34.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $20.1M | $26.9M | $50.1M | $15.6M | — | — |
| 2022 | $21.9M | $22.6M | $51.3M | $11.3M | — | View 990 |
| 2021 | $22.2M | $19.7M | $56.2M | $12.0M | — | View 990 |
| 2020 | $27.2M | $20.8M | $54.9M | $12.1M | — | View 990 |
| 2019 | $29.8M | $16.5M | $41.6M | $6.3M | — | View 990 |
| 2018 | $14.4M | $14.4M | $27.7M | $6.2M | — | View 990 |
| 2017 | $12.7M | $14.1M | $27.4M | $5.8M | — | View 990 |
| 2016 | $12.4M | $14.0M | $28.0M | $5.3M | — | View 990 |
| 2015 | $14.5M | $13.7M | $28.4M | $4.5M | — | View 990 |
| 2014 | $13.9M | $13.6M | $28.2M | $4.0M | — | View 990 |
| 2013 | $12.6M | $13.2M | $27.9M | $4.1M | — | View 990 |
| 2012 | $21.4M | $12.0M | $28.2M | $3.9M | — | View 990 |
| 2011 | $10.3M | $9.8M | $17.2M | $2.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $20.1M, expenses of $26.9M, and assets of $50.1M (revenue -8.3% year-over-year).
- 2022: Revenue of $21.9M, expenses of $22.6M, and assets of $51.3M (revenue -0.9% year-over-year).
- 2021: Revenue of $22.2M, expenses of $19.7M, and assets of $56.2M (revenue -18.7% year-over-year).
- 2020: Revenue of $27.2M, expenses of $20.8M, and assets of $54.9M (revenue -8.7% year-over-year).
- 2019: Revenue of $29.8M, expenses of $16.5M, and assets of $41.6M (revenue +107.1% year-over-year).
- 2018: Revenue of $14.4M, expenses of $14.4M, and assets of $27.7M (revenue +13.5% year-over-year).
- 2017: Revenue of $12.7M, expenses of $14.1M, and assets of $27.4M (revenue +2.1% year-over-year).
- 2016: Revenue of $12.4M, expenses of $14.0M, and assets of $28.0M (revenue -14.5% year-over-year).
- 2015: Revenue of $14.5M, expenses of $13.7M, and assets of $28.4M (revenue +4.7% year-over-year).
- 2014: Revenue of $13.9M, expenses of $13.6M, and assets of $28.2M (revenue +10.5% year-over-year).
- 2013: Revenue of $12.6M, expenses of $13.2M, and assets of $27.9M (revenue -41.2% year-over-year).
- 2012: Revenue of $21.4M, expenses of $12.0M, and assets of $28.2M (revenue +107.1% year-over-year).
- 2011: Revenue of $10.3M, expenses of $9.8M, and assets of $17.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Catalyst Inc:
Data Sources and Methodology
This transparency report for Catalyst Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.