Catapult Lakeland Inc

Analysis

Catapult Lakeland Inc is a registered charity in United States, based in Lakeland, FL. It received its IRS tax-exemption ruling in December 2013, 13 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 2022, Catapult Lakeland Inc reported income of $1.5m and spending of $1.7m, spending 113% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $2.2m to $1.5m (-31%), an average of -11% a year. The sharpest change came in the year to December 2021, when income dropped by 67%. Over the whole period it spent 70% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Catapult Lakeland Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include People Making Progress ($1.5m), Superior California Economic Development Inc ($1.5m) and Network Day Service Center Inc ($1.5m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 63% and program service revenue 39% of the total. Other salaries and wages came to $451k. At year end it held assets of $12.3m against liabilities of $17k, net assets of $12.3m. It reported 14 employees.