THE CATFISH INSTITUTE

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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

1986

Legal Domicile

Phone

6629779559

Tax Period

2025-01-01 to 2025-12-31

THE CATFISH INSTITUTE, founded in 1986, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2025. Revenue decreased 7% compared to the prior year. Expenses of $2.3M exceeded revenue, resulting in a 25% operating deficit.

Mission

To promote and develop the farm-raised catfish industry.

Program Service Accomplishments

Program 1

Expenses: $2,339,751

The Catfish Institute, Inc. plays an integral part in the advertising and promotion of farm raised catfish. Through its efforts, all catfish farmers benefit from a broader marketing area in the...

The Catfish Institute, Inc. plays an integral part in the advertising and promotion of farm raised catfish. Through its efforts, all catfish farmers benefit from a broader marketing area in the U.S.A. and in the World.

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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 (2025)

Revenue Breakdown

Contributions & Grants $1,842,937

Program Service Revenue $0

Investment Income $29,211

Other Revenue $0

TOTAL REVENUE $1,872,148

Expense Breakdown

Grants Paid $0

Salaries & Benefits $340,826

Fundraising Expenses $0

Program Expenses $2,339,751

Other Expenses $1,998,925

TOTAL EXPENSES $2,339,751

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,872,148	$2,018,894	-0.1%
Expenses	$2,339,751	$2,838,987	-0.2%
Net Income	$-467,603	$-820,093	-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

N/A

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

$318,808

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROGER BARLOW	Retired Pres.	40.00	Officer	$208,458	$6,600	$215,058
JEREMY ROBBINS	PRESIDENT ELECT	40.00	Officer	$103,750	$0	$103,750
JESSE DONAHOO	Director	5.00	Director	$0	$0	$0
BRAD PHILLIPS	Director	5.00	Director	$0	$0	$0
GEORGE SMELLEY	VICE CHAIRMAN	10.00	Officer Director	$0	$0	$0
BUBBA DRURY	Director	5.00	Director	$0	$0	$0
ANDREW STAINBACK	Director	5.00	Director	$0	$0	$0
ANDY JONES	Director	5.00	Director	$0	$0	$0
JASON GUIDRY	Director	5.00	Director	$0	$0	$0
ANDY PROSSER	Director	5.00	Director	$0	$0	$0
BILL BATTLE	Treasurer	5.00	Officer Director	$0	$0	$0
JONATHAN MILLS	Chairman	10.00	Officer Director	$0	$0	$0
BRAD STEVENS	Director	5.00	Director	$0	$0	$0
SOLON SCOTT IV	Director	5.00	Director	$0	$0	$0
DAVID ALLEN	Director	5.00	Director	$0	$0	$0
CHRIS BARNETTE	Director	5.00	Director	$0	$0	$0
RIC PERKINS	Director	5.00	Director	$0	$0	$0

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
2025	$1,872,148	$2,339,751	$1,827,389	$-467,603
2024	$2,018,894	$2,838,987	$2,316,971	$-820,093
2023	$2,029,577	$2,062,725	$3,153,053	$-33,148
2022	$1,954,798	$1,926,944	$3,150,066	$27,854
2021	$1,990,280	$1,894,782	$3,120,947	$95,498
2020	$1,864,667	$1,848,659	$3,025,199	$16,008
2019	$1,990,890	$2,264,321	$3,009,191	$-273,431
2018	$1,991,049	$2,143,303	$3,284,127	$-152,254