Catalyst Miami Inc

Analysis

Catalyst Miami Inc is a registered charity in United States, based in Mikami, FL. It received its IRS tax-exemption ruling in October 1997, 29 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Catalyst Miami Inc reported income of $3.3m and spending of $4.2m, spending 129% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.6m to $3.3m (-9.9%), an average of -2.6% a year. The sharpest change came in the year to December 2020, when income rose by 35%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Catalyst Miami Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within FL. Charities of a similar size with the same main cause include Hattiesburg Tourism Commission ($3.3m), Metroplex Economic Development Corp ($3.3m) and Desta ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $510k (12% of expenses). Other salaries and wages came to $1.8m. It paid $20k in professional fundraising fees. At year end it held assets of $5.6m against liabilities of $141k, net assets of $5.5m. It reported 34 employees.