CATAPULT LAKELAND INC

EIN: 800945525 501(c)(3) Community Improvement

LAKELAND, FL

Total Revenue
$1,549,205
Total Expenses
$1,623,096
Total Assets
$12,207,944
Net Assets
$12,207,944
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Organization Details

Formation Year
2013
Legal Domicile
FL
Principal Officer
CHRISTIN STRAWBRIDGE
Phone
8636873788
Tax Period
2023-01-01 to 2023-12-31

CATAPULT LAKELAND INC, founded in 2013, is a community nonprofit in the Community Improvement sector that reported $1.5M in total revenue in fiscal year 2023. Net assets of $12.2M represent 95 months of operating reserves.

Mission

CATAPULT LAKELAND, INC. A COMMUNITY-CENTERED ENTREPRENEUR CENTER LOCATED IN LAKELAND, FL. WE AIM TO FOSTER THE GROWTH OF STARTUPS IN THE LAKELAND, FL AND CENTRAL FLORIDA AREA AND MAINTAIN THEIR SUCCESS THROUGH AFFORDABLE MEMBERSHIP, THOUGHTFUL EDUCATION, AND FUNDING TO DRIVE LOCAL BUSINESS FORWARD. CATAPULT LAKELAND, INC. IS A PLACE WHERE ENTREPRENEURS CAN FLOURISH AND DEVELOP IDEAS THAT RESULT IN ESTABLISHING AND GROWING BUSINESSES IN THE LAKELAND, FLORIDA AREA THROUGH EDUCATION AND MENTORING OPPORTUNITIES.

Program Service Accomplishments

Program 1
Expenses: $497,793 Revenue: $130,782

CATAPULT LAKELAND, INC. ENGAGES AND EQUIPS LOCAL ENTREPRENEURS, ARTISANS, AND EMERGING LEADERS WITH A VARIETY OF TOOLS AND RESOURCES TO CREATE A COMMUNITY THAT IS STRONGER, MORE DISTINCTIVE, AND...

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CATAPULT LAKELAND, INC. ENGAGES AND EQUIPS LOCAL ENTREPRENEURS, ARTISANS, AND EMERGING LEADERS WITH A VARIETY OF TOOLS AND RESOURCES TO CREATE A COMMUNITY THAT IS STRONGER, MORE DISTINCTIVE, AND SUSTAINABLE. CATAPULT'S PROGRAM AND OPERATING COSTS ARE FUNDED BY PRIVATE INDIVIDUALS, FOUNDATIONS AND EARNED REVENUE. ALL PROGRAMS TAKE PLACE IN LAKELAND, FLORIDA. AS THE CITY GROWS IN NUMBER, IT IS OUR VISION TO SEE THE CREATION OF A THRIVING ENTREPRENEURIAL-MINDED COMMUNITY. WE WANT TO ASSIST IN THE CREATION AND GROWTH OF COMPANIES THAT ARE GOING TO ADD TO LAKELAND'S DIVERSE INDUSTRY BASE, PROVIDE ADDITIONAL JOBS TO OUR GROWING POPULATION, CONTRIBUTE TO THE OVERALL ENHANCEMENT OF THE CITY'S QUALITY OF LIFE, AND FILL VACANT STOREFRONTS IN OUR CITY. CATAPULT FOSTERS THE GROWTH OF STARTUPS BY LISTENING TO MEMBERS' NEEDS AND CONNECTING THEM WITH RESOURCES TO HELP THEM GROW THEIR BUSINESSES. PEOPLE WITH VARYING BACKGROUNDS AND DIFFERENT DREAMS ALL COME TOGETHER BECAUSE OF THEIR SHARED PASSION TO START SOMETHING NEW. THROUGH A MEMBERSHIP AT CATAPULT, STARTUP FOUNDERS GET ACCESS TO RESOURCES TO PROPEL THEIR BUSINESS FORWARD.

Program 2
Expenses: $363,121 Revenue: $219,225

SINCE CATAPULT IS HOME TO A VARIETY OF BUSINESSES, WE FELT THE NEED TO HONE IN ON THE STARTUPS THAT WE CAN BEST SERVE RATHER THAN TRYING TO BE EVERYTHING TO EVERYONE. WITH AN INITIAL GOAL OF...

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SINCE CATAPULT IS HOME TO A VARIETY OF BUSINESSES, WE FELT THE NEED TO HONE IN ON THE STARTUPS THAT WE CAN BEST SERVE RATHER THAN TRYING TO BE EVERYTHING TO EVERYONE. WITH AN INITIAL GOAL OF DISCOVERING THE MEMBERS THAT ARE MOST ALIGNED WITH CATAPULT'S MISSION, THIS SHIFT HAS ALLOWED US TO BUILD MORE TARGETED RESOURCES. MISSION-FIT MEMBERS HAVE COACHABLE MINDSETS AND ARE BUILDING STARTUPS THAT ARE INNOVATIVE AND SCALABLE. MISSION-FIT MEMBERS ARE IN THE WORKSPACE, KITCHEN, AND MAKERSPACE. THEY ARE IN ALL STAGES OF BUSINESS WITH VARIOUS BACKGROUNDS BUT FIND COMMON GROUND OVER A DESIRE TO GROW ON A LOCAL, NATIONAL, OR GLOBAL SCALE. IN ORDER TO SUPPORT MISSION-FIT MEMBERS IN A VARIETY OF DIFFERENT INDUSTRIES, CATAPULT FACILITATES EDUCATION THROUGH A ONE-ON-ONE MENTORSHIP MODEL. THIS PROGRAM CONNECTS FOUNDERS THAT ARE HUNGRY TO LEARN WITH INDUSTRY EXPERTS THAT ARE WILLING TO SHARE ADVICE. EXPERTS IN RESIDENCE TECHNICAL ADVISORS ARE HIRED BY CATAPULT TO PROVIDE HELP IN KEY BUSINESS AREAS. THEY HAVE A PRESENCE AT CATAPULT, WHETHER IN-PERSON OR ONLINE, FOR SEVERAL HOURS PER WEEK AND ARE OFTEN AVAILABLE FOR FOLLOW-UP MEETINGS. TECHNICAL ADVISORS ARE HIRED BY CATAPULT TO PROVIDE HELP IN KEY BUSINESS AREAS. THEY HAVE A PRESENCE AT CATAPULT, WHETHER IN-PERSON OR ONLINE, FOR SEVERAL HOURS PER WEEK AND ARE OFTEN AVAILABLE FOR FOLLOW-UP MEETINGS. HAVE NICHE EXPERTISE AND CAN PROVIDE TANGIBLE, SITUATION-SPECIFIC ADVICE TO FOUNDERS ON A ONE-OFF BASIS. THEY VOLUNTEER UP TO TWO HOURS A MONTH TO MEET WITH STARTUP FOUNDERS WHO ARE RECOMMENDED BY CATAPULT'S STAFF. THE LIST OF TECHNICAL ADVISORS IS CONSTANTLY GROWING. MEMBER NUMBERS: TOTAL MEMBERS - 279: WORKSPACE - 197; KITCHEN - 39; MAKERSPACE - 43. INCUBATOR PARTICIPANTS - 109. LAUNCHED BUSINESSES - 3. LAUNCH: LAUNCH IS A COMMUNITY-BASED EFFORT LEAD, AND FUNDED, BY LOCAL FINANCIAL INSTITUTIONS TO CATAPULT THAT IS CREATED TO ASSIST LOCAL ENTREPRENEURS. LAUNCH'S GOAL IS TO HELP LAKELAND ENTREPRENEURS TAKE THEIR BUSINESS CONCEPT TO THE NEXT LEVEL. LAUNCH WILL DO THIS BY PROVIDING GRANTS TO ENTREPRENEURS WHO CAN SUCCESSFULLY PITCH THEIR CONCEPTS TO LAUNCH'S TEAM. PITCH SESSIONS - ARE HELD 2 TO 3 TIMES PER YEAR AT CATAPULT. APPLICATIONS ARE AVAILABLE ONLINE AT CATAPULTLAKELAND.COM. ADVISORY BOARD MEMBERS ATTEND PITCH SESSIONS, GIVE THEIR INPUT IN A CLOSED-DOOR SESSION FOLLOWING THE PITCHES AND THE PITCH JUDGES WILL VOTE ON GRANT AWARDS. THE PUBLIC IS INVITED TO ATTEND PITCH SESSIONS. IT'S LIKE SHARK TANK. BUT WITH HAPPY PEOPLE.

Program 3
Expenses: $493,038 Revenue: $210,404

CATAPULT'S MENTOR PROGRAM FACILITIES ONE-ON-ONE RELATIONSHIPS THAT ARE MUTUALLY BENEFICIAL TO BOTH MENTOR AND MENTEE. THESE INDIVIDUAL RELATIONSHIPS RESULT IN PERSONAL AND PROFESSIONAL...

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CATAPULT'S MENTOR PROGRAM FACILITIES ONE-ON-ONE RELATIONSHIPS THAT ARE MUTUALLY BENEFICIAL TO BOTH MENTOR AND MENTEE. THESE INDIVIDUAL RELATIONSHIPS RESULT IN PERSONAL AND PROFESSIONAL ACCOMPLISHMENTS FOR BOTH PARTIES. ALL OTHER ASPECTS OF THE PROGRAM INHERENTLY SUPPORT THE RELATIONSHIP AND WELL-ROUNDED DEVELOPMENT OF THE MENTEE. PROGRAMS INCLUDE: EXPERTS IN RESIDENCE - CATAPULT'S SIX DIFFERENT EXPERTS IN RESIDENCE PROVIDE ONE-ON-ONE GUIDANCE TO FOUNDERS IN AREAS SUCH AS ACCOUNTING, HUMAN RESOURCES, AND BRANDING. THESE MEETINGS HELP ENTREPRENEURS GET ANSWERS TO THEIR SPECIFIC QUESTIONS, BRAINSTORM NEW IDEAS, AND SOLVE IMMEDIATE PROBLEMS. SEED-TO-SCALE PROGRAM - THROUGH FLORIDA SOUTHERN COLLEGE'S CENTER FOR FREE ENTERPRISE AND ENTREPRENEURSHIP, STUDENTS WHO ARE BUILDING INNOVATIVE BUSINESSES CAN UTILIZE THE EQUIPMENT, PROGRAMS, AND CONNECTIONS AVAILABLE THROUGH MEMBERSHIP AT CATAPULT. UPON GRADUATION, TWO STUDENTS HAVE CONTINUED FULL-TIME MEMBERSHIP. ADVISORY BOARD PILOT - AS PART OF A PILOT PROGRAM, WE CREATED AN ADVISORY BOARD FOR THE MAKERSPACE TO CONNECT FOUNDERS WITH EXPERIENCED BUSINESS LEADERS. DURING THE MEETINGS, THEY BRAINSTORMED SOLUTIONS IN A VARIETY OF AREAS SUCH AS HIRING, LEASE AGREEMENTS, SALES OPPORTUNITIES, AND MANY MORE. RAPID PROTOTYPING CLASS - IN PARTNERSHIP WITH SOUTHEASTERN UNIVERSITY, THE FIRST COLLEGE CLASS WAS HOSTED IN THE MAKERSPACE. THROUGH THE CLASS, 18 STUDENTS LEARNED ABOUT THE SOFTWARE AND HARDWARE OF 3D-PRINTING AND WERE ABLE TO COMPLETELY DESIGN AND PRINT SOMETHING THAT SOLVED A PROBLEM THEY EXPERIENCE IN THEIR DAILY LIFE.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $949,580
Program Service Revenue $521,428
Investment Income $76,697
Other Revenue $1,500
TOTAL REVENUE $1,549,205

Expense Breakdown

Grants Paid $0
Salaries & Benefits $678,783
Fundraising Expenses $0
Program Expenses $1,353,952
Other Expenses $944,313
TOTAL EXPENSES $1,623,096

Year-over-Year Comparison

2023 2022 Change
Revenue $1,549,205 $1,506,846 +0.0%
Expenses $1,623,096 $1,706,392 0.0%
Net Income $-73,891 $-199,546 -0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
10
Employees
15
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
5
$92,980
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTIN STRAWBRIDGE PRESIDENT 60.00
Officer
$92,980 $0 $92,980
HOYT BARNETT DIRECTOR 1.00
Director
$0 $0 $0
WESLEY BECK TREASURER 3.00
Officer Director
$0 $0 $0
LEILA BLACKING PAST CHAIRMA 1.00
Officer Director
$0 $0 $0
SYLVIA BLACKMON-ROBERTS DIRECTOR 1.00
Director
$0 $0 $0
DAVID HALLOCK JR DIRECTOR 1.00
Director
$0 $0 $0
STEPHANIE MADDEN CHAIRMAN 3.00
Officer Director
$0 $0 $0
CALLIE NESLUND DIRECTOR 1.00
Director
$0 $0 $0
BRIAN PHILPOT SECRETARY 1.00
Officer Director
$0 $0 $0
STEVEN J SCRUGGS DIRECTOR 3.00
Director
$0 $0 $0
ADAM WHELCHEL DIRECTOR 1.00
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
2024 No data No data No data No data
2023 $1,549,205 $1,623,096 $12,207,944 $-73,891
2022 $1,506,846 $1,706,392 $12,299,274 $-199,546
2021 $908,790 $1,168,792 $12,484,632 $-260,002
2020 $2,793,681 $1,186,225 $12,740,349 $1,607,456
2019 $2,168,258 $1,080,643 $11,138,199 $1,087,615
2018 $4,350,076 $1,204,463 $10,048,988 $3,145,613
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