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Innovation Catalyst Inc

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Community Improvement, Capacity Building / Economic Development (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$29.1k (2023)

Expenses
$142k (2023)

Total Assets
$42.9k (2023)

Total Liabilities
$12.6k (2023)

Source: Form 990 tax filings from 2013 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$29,098
Expenses
$141,669
Net Income
-$112,571
Net Assets
$30,335
Notable Sources of Revenue Percent of Total Revenue
Contributions $29,060
99.9%
Program Services $0
Investment Income $38
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $99,769
70.4%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $42,924
Total Liabilities $12,589
Net Assets $30,335
Compensation
Key Employees and Officers Compensation Related Other
William Ellison (Ceo) $0 $0 $0
Veneeth Iyengar (Board Chairman) $0 $0 $0
Stephanie Cargile (Director) $0 $0 $0
Michael Moles (Director) $0 $0 $0
Jim Odom (Director) $0 $0 $0
Preston Castille (Director) $0 $0 $0
Paige Carter (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$20,060
Expenses
$142,854
Net Income
-$122,794
Net Assets
-$16,031
Notable Sources of Revenue Percent of Total Revenue
Contributions $20,057
100.0%
Program Services $0
Investment Income $3
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $87,289
61.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $24,216
Total Liabilities $40,247
Net Assets -$16,031
Compensation
Key Employees and Officers Compensation Related Other
William Ellison (Ceo) $87,289 $90,711 $0
Veneeth Iyengar (Board Chairman) $0 $0 $0
Stephanie Cargile (Director) $0 $0 $0
Michael Moles (Director) $0 $0 $0
Jim Odom (Director) $0 $0 $0
Preston Castille (Director) $0 $0 $0
Paige Carter (Director) $0 $0 $0

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Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$233,403
Expenses
$155,956
Net Income
$77,447
Net Assets
$106,763
Notable Sources of Revenue Percent of Total Revenue
Contributions $233,403
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $90,951
58.3%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $114,365
Total Liabilities $7,602
Net Assets $106,763
Compensation
Key Employees and Officers Compensation Related Other
William Ellison (Ceo) $90,951 $87,528 $0
Veneeth Iyengar (Board Chairman) $0 $0 $0
Stephanie Cargile (Director) $0 $0 $0
Michael Moles (Director) $0 $0 $0
Jim Odom (Director) $0 $0 $0
Preston Castille (Director) $0 $0 $0
Paige Carter (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$173,034
Expenses
$148,615
Net Income
$24,419
Net Assets
$2,954,051
Notable Sources of Revenue Percent of Total Revenue
Contributions $173,034
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $89,787
60.4%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $3,234,667
Total Liabilities $280,616
Net Assets $2,954,051
Compensation
Key Employees and Officers Compensation Related Other
William Ellison (Ceo) $89,787 $89,787 $0
Veneeth Iyengar (Board Chairman) $0 $0 $0
Stephanie Cargile (Director) $0 $0 $0
Michael Moles (Director) $0 $0 $0
Jim Odom (Director) $0 $0 $0
Preston Castille (Director) $0 $0 $0
Paige Carter (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$78,218
Expenses
$261,474
Net Income
-$183,256
Net Assets
$2,254,792
Notable Sources of Revenue Percent of Total Revenue
Contributions $78,218
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $182,469
69.8%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $2,372,372
Total Liabilities $117,580
Net Assets $2,254,792
Compensation
Key Employees and Officers Compensation Related Other
William Ellison (Ceo) $115,791 $50,081 $7,317
Louis Freeman (President/Ceo Former) $83,619 $81,381 $5,876
John Davies (Director Former) $0 $0 $0
Michael Kirby (Director Former) $0 $0 $0
Nanette Noland (Board Chairman Former) $0 $0 $0
John Terrell Brown (Director Former) $0 $0 $0
Shawn Usher (Director Former) $0 $0 $0
Veneeth Iyengar (Board Chairman) $0 $0 $0
Stephanie Cargile (Secretary Treasurer) $0 $0 $0
Michael Moles (Vice Chairman) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$498,500
Expenses
$287,283
Net Income
$211,217
Net Assets
$3,697,733
Notable Sources of Revenue Percent of Total Revenue
Contributions $498,500
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $204,915
71.3%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $3,702,186
Total Liabilities $4,453
Net Assets $3,697,733
Compensation
Key Employees and Officers Compensation Related Other
Louis Freeman (President/Ceo, Director) $126,331 $133,669 $8,531
William Ellison (Key Employee) $83,629 $88,486 $10,652
John Davies (Director) $0 $0 $0
Michael Kirby (Director) $0 $0 $0
Nanette Noland (Board Chairman) $0 $0 $0
John Terrell Brown (Director) $0 $0 $0
Shawn Usher (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$356,350
Expenses
$299,339
Net Income
$57,011
Net Assets
$2,518,382
Notable Sources of Revenue Percent of Total Revenue
Contributions $350,000
98.2%
Program Services $1,000
0.3%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $5,350
1.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $216,585
72.4%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $2,518,382
Total Liabilities $0
Net Assets $2,518,382
Compensation
Key Employees and Officers Compensation Related Other
Louis Freeman (President/Ceo, Director) $137,952 $131,156 $7,783
William Ellison (Key Employee) $78,633 $74,759 $7,927
John Davies (Director) $0 $0 $0
Michael Kirby (Director) $0 $0 $0
Nanette Noland (Board Chairman) $0 $0 $0
John Terrell Brown (Director) $0 $0 $0
Shawn Usher (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$728,352
Expenses
$354,034
Net Income
$374,318
Net Assets
$2,081,058
Notable Sources of Revenue Percent of Total Revenue
Contributions $726,251
99.7%
Program Services $2,017
0.3%
Investment Income $84
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $110,000
31.1%
Professional Fundraising Fees $0
Other Salaries and Wages $145,539
41.1%
Assets/Debt
Total Assets $2,083,488
Total Liabilities $2,430
Net Assets $2,081,058
Compensation
Key Employees and Officers Compensation Related Other
Louis Freeman (President/Ceo, Director) $110,000 $110,000 $7,374
Jeanne Bayless (Former Ceo) $80,169 $80,169 $0
John Davies (Director) $0 $0 $0
Michael Kirby (Director) $0 $0 $0
Nanette Noland (Board Chairman) $0 $0 $0
John Terrell Brown (Director) $0 $0 $0
Shawn Usher (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$537,000
Expenses
$269,316
Net Income
$267,684
Net Assets
$925,132
Notable Sources of Revenue Percent of Total Revenue
Contributions $537,000
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $107,717
40.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $938,880
Total Liabilities $13,748
Net Assets $925,132
Compensation
Key Employees and Officers Compensation Related Other
Jeanne Bayless (Ceo,Secretary) $254,000 $0 $27,313
John Davies (Director) $0 $0 $0
Michael Kirby (Director) $0 $0 $0
Nanette Noland (Board Chairman) $0 $0 $0
John Terrell Brown (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$463,773
Expenses
$337,775
Net Income
$125,998
Net Assets
$67,610
Notable Sources of Revenue Percent of Total Revenue
Contributions $463,773
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $224,802
66.6%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $79,396
Total Liabilities $11,786
Net Assets $67,610

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$270,286
Expenses
$267,784
Net Income
$2,502
Net Assets
$2,503
Notable Sources of Revenue Percent of Total Revenue
Contributions $270,286
100%
Program Services $0
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $28,846
10.8%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $26,890
Total Liabilities $24,387
Net Assets $2,503
Compensation
Key Employees and Officers Compensation Related Other
Jeanne Bayless (Ceo) $38,101 $0 $0
J Terrell Brown (Chairman) $0 $0 $0
Michael Kirby (President) $0 $0 $0
Steve Hicks (Secretary, Treasurer) $0 $0 $0
Maurice Coleman (Director) $0 $0 $0
Nanette Noland (Director) $0 $0 $0

Document Links

About This Data

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Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

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Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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