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Nonprofiteer
← CATALYST IMPACT FUND INC

Form 990 for tax year 2024

Filed by CATALYST IMPACT FUND INC.

Totals

Total revenue
$3,024,576
Total expenses
$4,406,512
Contributions and grants received
$392,830
Grants paid
$15,660
Program service revenue
$2,548,098
Investment income
$234,628
Other revenue
-$150,980
Total assets, end of year
$92,977,869
Total liabilities, end of year
$94,361,587
Net assets or fund balances, end of year
-$1,383,718
Program services expenses (Part IX)
$4,319,365
Management and general expenses
$87,147
Fundraising expenses
$0
Program service expenses (Part III)
$4,319,365

Program services were 98.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $392,830

  • 2a · Program service revenue: Residential Rental Income

    total $2,548,098 · related or exempt $2,548,098

  • 3 · Investment income

    total $234,628 · excluded $234,628

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $294,124

  • 6b · Less rental expenses

    real property $531,096

  • 6c · Rental income or loss

    real property -$236,972

  • 6d · Net rental income or loss

    total -$236,972 · unrelated business -$236,972

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Other Income

    total $85,992 · related or exempt $85,992

  • 11e · Other revenue, total

    $85,992

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $15,660 · program services $15,660

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $102,342 · program services $102,342

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $16,930 · program services $16,930

  • 10 · Payroll taxes

    total $6,353 · program services $6,353

  • 11a · Fees: management

    total $145,523 · program services $145,523

  • 11b · Fees: legal

    total $33,221 · program services $33,221

  • 11c · Fees: accounting

    total $6,161 · management and general $6,161

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $1,831 · program services $1,831

  • 12 · Advertising and promotion

    total $17,259 · program services $17,259

  • 13 · Office expenses

    total $16,724 · program services $13,858 · management and general $2,866

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $1,629 · management and general $1,629

  • 20 · Interest

    total $2,090,860 · program services $2,090,860

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $921,825 · program services $921,825

  • 23 · Insurance

    total $97,806 · program services $97,806

  • 24a · Other expenses: real estate taxes

    total $436,290 · program services $436,290

  • 24b · Other expenses: utilities

    total $147,008 · program services $147,008

  • 24c · Other expenses: fiscal sponsorship program

    total $138,868 · program services $138,868

  • 24d · Other expenses: repairs & maintenance

    total $112,292 · program services $112,292

  • 24e · All other expenses

    total $97,930 · program services $21,439 · management and general $76,491

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,259 · end of year $1,022,511

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $4,466 · end of year $66,139

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $160,564

  • 10a · Land, buildings and equipment: cost or other basis

    $80,336,283

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,037,156

  • 10c · Land, buildings and equipment, net

    end of year $79,299,127

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $12,429,528

  • 17 · Accounts payable and accrued expenses

    end of year $185,458

  • 19 · Deferred revenue

    end of year $141,574

  • 20 · Tax-exempt bond liabilities

    end of year $79,245,105

  • 22 · Loans and payables to officers and key people

    end of year $2,000,000

  • 24 · Unsecured notes and loans payable

    end of year $10,000,000

  • 25 · Other liabilities

    beginning of year $20,507 · end of year $2,789,450

  • 27 · Net assets without donor restrictions

    beginning of year -$1,782 · end of year -$1,608,600

  • 28 · Net assets with donor restrictions

    end of year $224,882

Mission and programs · 2024

Mission

The Catalyst Impact Fund's purpose is to develop and facilitate innovative solutions, programs, and opportunities to address housing and other socioeconomic concerns for America's essential workforce.

  • Affordable Housing: On January 31, 2024, the organization acquired a multifamily rental housing development located in San Jose, California. The 6-story property includes 168 residential units and 18,151 square feet of commercial space. Pursuant to a Regulatory Agreement, the organization is committing at least 20% of residential units for very low income tenants (at or below 50% of area median income) and at least 75% of units for low income tenants (at or below 80% of area median income). Rents for these units are set at affordable rates in compliance with federal and local housing standards. The property includes 4 commercial tenants that pre-date the organization's acquisition. While these commercial leases generate unrelated debt-financed income, these activities remain ancillary to the organization's primary affordable housing mission.

    Expenses $4,164,837 · Revenue $2,548,098

  • Fiscal Sponsorship: The Organization serves as fiscal sponsor to JDL Strategies, LLC, supporting its charitable project to assess land banking as a solution for community-centered affordable housing production and preservation in Marin County, California. As fiscal sponsor, the Organization receives and administers charitable contributions and grants for the project, ensuring proper oversight and disbursement of funds for project-related expenses.

    Expenses $138,868

  • Grantmaking: Under its mission to serve essential workers and their families, the organization has made grants since its founding to subsidize rent costs for Marin County's public school teachers and other educators under its Rent Relief Grant Program. The program is currently carried out in collaboration with Serenity at Larkspur Apartments, and the grants are applied directly toward rent expenses.

    Expenses $15,660 · Grants $15,660

As filed on the 2024 return.

Listed in Part VII

  • Steve Lefkovits

    Treasurer

    Total calculated
    $0
    Hours/week
    2
  • Linda Assante

    Secretary

    Total calculated
    $0
    Hours/week
    2
  • Annie Koo

    President

    Total calculated
    $0
    Hours/week
    5
  • Nina Tran

    Director

    Total calculated
    $0
    Hours/week
    1
  • Chris Tokarski

    Director

    Total calculated
    $0
    Hours/week
    1
  • Missy Narula

    Director

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • catalyst impact fund 1 llc

    real estate title-holding · CA · income -$1,377,439 · assets $92,636,370

    Directly controlled by Catalyst Impact Fund Inc

Provenance

Return type
form_990
Tax year
2024
Filed
24 February 2025
IRS schema version
2024v5.0
Source object
202540559349301904

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