CATALYTIC DEVELOPMENT FUNDING CORP… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Principal Officer

JEANNE SCHROER

Phone

8597570519

Tax Period

2024-01-01 to 2024-12-31

CATALYTIC DEVELOPMENT FUNDING CORP OF NORTHERN KENTUCKY, founded in 2008, is a community nonprofit in the Community Improvement sector that reported $5.2M in total revenue in fiscal year 2024. Revenue surged 103% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.8M, a strong 35% operating margin.

Mission

1. IMPROVE QUALITY OF LIFE AND ENVIRONMENT; 2. INCREASE ECONOMIC OPPORTUNITY FOR COMMUNITY RESIDENTS; 3. PROVIDE AFFORDABLE HOUSING CHOICES; 4. ATTRACT AMENITIES THAT ENHANCE COMMUNITY VIBRANCY; 5. GROW LOCAL TAX BASE; 6. CONTRIBUTE TO REGIONAL ECONOMIC DEVELOPMENT.

Program Service Accomplishments

Program 1

Expenses: $3,173,353 Revenue: $202,099

IN 2024, THE CATALYTIC FUND DEPLOYED $7,381,000 IN CAPITAL AND DEVELOPED AN ACTIVE PIPELINE OF $15,000,000+ IN THE CURRENT CHALLENGING REAL ESTATE MARKET AND SMALL BUSINESS ENVIRONMENT. THE 13...

IN 2024, THE CATALYTIC FUND DEPLOYED $7,381,000 IN CAPITAL AND DEVELOPED AN ACTIVE PIPELINE OF $15,000,000+ IN THE CURRENT CHALLENGING REAL ESTATE MARKET AND SMALL BUSINESS ENVIRONMENT. THE 13 PROJECTS FUNDED THROUGH CATALYTIC FUND INVESTMENTS AND SUPPORTED BY CATALYTIC FUND DEVELOPMENT SERVICES CREATED $29,554,000 IN NEW INVESTMENT IN THE CATALYTIC FUND'S CDFI TARGET MARKET, PRESERVED AND RENOVATED 12 HISTORIC BUILDINGS, CREATED 20 RESIDENTIAL UNITS - 12 OF WHICH ARE AFFORDABLE TO HOUSEHOLDS AT 80% OF AMI, AND CREATED 71,844 SQUARE FEET OF TENANT READY COMMERCIAL SPACE. THE CATALYTIC FUND ALSO INCREASED ITS INVESTMENT CAPITAL BY $3,000,000 AND SAW THE EXECUTION OF ONE OF THE ORGANIZATION'S MOST HIGH IMPACT INVESTMENTS TO DATE IN SPARKHAUS, A COMMUNITY FACILITY SUPPORTING SMALL BUSINESSES TO RAPIDLY. = GROW IN THE NORTHERN KENTUCKY REGION EACH YEAR.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,772,950

Program Service Revenue $202,099

Investment Income $1,266,699

Other Revenue $0

TOTAL REVENUE $5,241,748

Expense Breakdown

Grants Paid $1,463,767

Salaries & Benefits $806,768

Fundraising Expenses $50,372

Program Expenses $3,173,353

Other Expenses $1,122,140

TOTAL EXPENSES $3,392,675

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,241,748	$2,578,550	+1.0%
Expenses	$3,392,675	$1,212,274	+1.8%
Net Income	$1,849,073	$1,366,276	+0.4%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$319,656

Total Directors

$319,656

Key Employees

$244,364

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEANNE SCHROER	PRESIDENT & CEO	40.00	Officer Director	$310,000	$9,656	$319,656
CHARLES SCHEPER	CHAIRMAN	0.50	Officer Director	$0	$0	$0
MARTIN BUTLER	VICE CHAIRMAN	0.50	Officer Director	$0	$0	$0
MARTHA SKELTON	SECRETARY	0.50	Officer Director	$0	$0	$0
MARK CAESAR	TREASURER	0.50	Officer Director	$0	$0	$0
THOMAS ALLEN	DIRECTOR	0.50	Director	$0	$0	$0
GENE BARBER	DIRECTOR	0.50	Director	$0	$0	$0
MARK BICKER	DIRECTOR	0.50	Director	$0	$0	$0
BRIAN FINLEY	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT LAMOTHE	DIRECTOR	0.50	Director	$0	$0	$0
BOB LUEBBE	DIRECTOR	0.50	Director	$0	$0	$0
BERNIE MCKAY	DIRECTOR	0.50	Director	$0	$0	$0
JASON PAYNE	DIRECTOR	0.50	Director	$0	$0	$0
MATTHEW RANDAZZO	DIRECTOR	0.50	Director	$0	$0	$0
LEE SCHEBEN	DIRECTOR	0.50	Director	$0	$0	$0
JIM UEBEL	DIRECTOR	0.50	Director	$0	$0	$0
PAM WEBER	DIRECTOR	0.50	Director	$0	$0	$0
RHONDA WHITAKER-HURTT	DIRECTOR	0.50	Director	$0	$0	$0
RICK WIRTHLIN	DIRECTOR	0.50	Director	$0	$0	$0
WILL WOODWARD	DIRECTOR	0.50	Director	$0	$0	$0
BRUNO GIACOMUZZI	DIRECTOR (THRU 1/2024)	0.50	Director	$0	$0	$0
SCOTT SMITH	DIRECTOR (THRU 4/2024)	0.50	Director	$0	$0	$0
JOSEPH KLARE	CHIEF OPERATING OFFICER	40.00	Key Emp	$230,000	$14,364	$244,364
TRAVIS GYSEGEM	DIRECTOR OF RESEARCH & UNDERWRITING	40.00	Highest	$110,000	$10,764	$120,764

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$5,241,748	$3,392,675	$29,906,477	$1,849,073
2023	$2,578,550	$1,212,274	$27,471,423	$1,366,276
2022	$2,528,032	$1,667,768	$20,725,291	$860,264
2021	$2,043,108	$1,499,092	$17,082,435	$544,016
2020	$867,611	$1,356,994	$12,751,847	$-489,383
2019	$1,471,657	$1,145,233	$9,032,504	$326,424
2018	$1,507,483	$1,165,038	$7,848,551	$342,445

CATALYTIC DEVELOPMENT FUNDING CORP OF NORTHERN KENTUCKY