2025-02-24T18:39:30-08:00 2024-06-30 872635810 Tovella Dowling PC 600 W Broadway Ste 660 San Diego San Diego CA 92101 990 2024-01-01 850681665 Catalyst Impact Fund Inc CATA 9566485957 501 W Broadway Ste 1540 San Diego CA 92101 Annie Koo President 2025-02-24 true true Julie U Nguyen Esq P01881055 6199309332 2024 2025-03-06 01:10:19Z X Annie Koo 501 W Broadway Ste 1540 San Diego CA 921013770 3555672 false X www.catalysthousing.com X 2020 CA 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. 6 6 0 -236972 5097 392830 2548098 234628 -150980 5097 3024576 49848 15660 0 125625 0 0 22085 4265227 71933 4406512 -66836 -1381936 18725 92977869 20507 94361587 -1782 -1383718 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. false false 4164837 2548098 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. 138868 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. 15660 15660 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. 4319365 true true false false false false false false false false true false false true true true true true false false false false false false false false false false true false true false false false false false true false false false false false false false false true false false false false true 0 0 false 0 true true false false false false false false 0 false false false false false false false X 6 6 false false false false false false false true true false false true true true true true true false false false CA X X Moss Adams 7074310600 205 Foss Creek Cir Healdsburg CA 954484298 X Steve Lefkovits Treasurer 2.00 0.00 X X 0 0 0 Linda Assante Secretary 2.00 0.00 X X 0 0 0 Annie Koo President 5.00 0.00 X X 0 0 0 Nina Tran Director 1.00 0.00 X 0 0 0 Chris Tokarski Director 1.00 0.00 X 0 0 0 Missy Narula Director 1.00 0.00 X 0 0 0 0 false false false Catalyst Housing Group LLC 548 Market St PMB 52392 San Francisco CA 941045401 asset management 104166 1 392830 392830 Residential Rental Income 531110 2548098 2548098 2548098 234628 234628 0 0 294124 531096 -236972 -236972 -236972 0 0 0 0 Other Income 531110 85992 85992 85992 3024576 2634090 -236972 234628 0 15660 15660 0 0 0 0 102342 102342 0 16930 16930 6353 6353 145523 145523 33221 33221 6161 6161 0 0 0 1831 1831 17259 17259 16724 13858 2866 0 0 0 0 0 1629 1629 2090860 2090860 0 921825 921825 97806 97806 real estate taxes 436290 436290 utilities 147008 147008 fiscal sponsorship program 138868 138868 repairs & maintenance 112292 112292 97930 21439 76491 4406512 4319365 87147 0 14259 1022511 0 0 4466 66139 0 0 0 0 160564 80336283 1037156 79299127 0 0 0 0 12429528 18725 92977869 185458 141574 79245105 2000000 10000000 20507 2789450 20507 94361587 X -1782 -1608600 224882 -1782 -1383718 18725 92977869 -1381936 X true X true X true false X 100630 101309 100000 5097 392830 699866 2548098 2548098 0 0 0 100630 101309 100000 5097 2940928 3247964 100097 100000 100000 15718 315815 0 100097 100000 100000 15718 315815 2932149 234628 234628 -236972 -236972 -2344 -2344 0 85992 85992 100630 101309 100000 5097 3024576 3331612 0.88010 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8750000 8750000 70949618 984476 69965142 636665 52680 583985 79299127 tenant security deposits 225760 trustee funds 12203768 12429528 accrued interest payable-bonds 2100012 accrued interest payable-unsec loans 208444 current maturities of LT debt 100000 due to affiliates 154324 tenant security deposits 226670 2789450 X 3555672 3555672 -531096 -531096 3024576 4961094 554582 554582 4406512 4406512 Part X : FIN48 Footnote The Organization qualifies as a tax-exempt corporation under Section 501(c)(3) of the Internal Revenue Code. The operations of the Subsidiary are included in the annual information return of the Organization and, therefore, are not subject to income tax, except on net income derived from unrelated business activities. During the year ended June 30, 2024, the Organization and Subsidiary had income derived from unrelated business activities which is solely attributable to the commercial lease that is debt financed and unrelated business expenses, related to interest, depreciation, and other related expenses, that offsets this income. No provision or liability for income taxes is reflected in the consolidated financial statements. The Organization believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the consolidated financial statements. The Organization is required to file and does file tax returns with the Internal Revenue Service and other taxing authorities. Generally, income tax returns filed by the Organization are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2021 remain open. Part XII, Line 2d: Other expenses and losses per audited F/S 2023 Expenses Excluded from Short Period $23486 Unrelated Rental Expenses $531096 true 0 0 rent subsidies for educators 1 15660 Grantmaker's Description of How Grants are Used The organization operates a Rent Relief Grant Program to support Marin County's public school teachers and educators with housing costs. Grants are awarded to qualified educators and applied directly toward their rent expenses at Serenity at Larkspur Apartments. The organization maintains oversight through direct application of grant funds to rent payments, eliminating the risk of funds being used for other purposes. The organization maintains documentation of grant amounts and their application to rent expenses, and conducts periodic reviews of the program's effectiveness in supporting educator housing needs. A California Municipal Fina 201563466 13048VQ27 2024-01-31 80885000 affordable housing project false false false A 80885000 3827110 790178 73388954 2878758 2024 false false false true A false true true true false 0.04500 0.04500 false false true A false true false true Mass Mutual 9.9000 true false true A true Part VI Part I, Line Aa Issuer Name: California Municipal Finance Authority / Part IV, Line 5b Name of Provider: Massachusetts Mutual Life Insurance Company Linda Assante Trust See Part V See Part V X 100000 100000 false true true Catalyst Housing Grp LLC See Part V See Part V X 1900000 1900000 false true true 2000000 Catalyst Housing Grp LLC See Part V 104166 asset management fee false Catalyst Housing Grp LLC See Part V 154324 reimbursement payable false Schedule L, Part V Supplemental Information The organization has the following related party transactions: (1) On January 29, 2024, the organization entered into loan agreements with Linda M. Assante's Trust ($100,000) and Catalyst Housing Group LLC ("CHG") ($1,900,000) to provide supplemental financing to the 501(c)(3) bonds for acquiring the property, funding operating expenses, capitalized interest, costs of issuance, and certain reserves. Both loans are unsecured, bear 4% annual interest, with interest accruing annually and all payments due at maturity on January 29, 2034. Linda M. Assante is a current director and Secretary, while CHG is an entity in which Jordan Moss (former director and President) holds a 35% or greater beneficial ownership and Annie Koo (current director and President) serves as an executive employee. (2) The organization's ending liability balance reflects a reimbursement payable to CHG for professional fees, transaction costs related to the organization's acquisition of a 168-unit affordable housing complex in January of 2024, and other ongoing costs. Due to the organization's initial funding constraints, CHG advanced these costs to facilitate the acquisition closing and initial operations. The organization will reimburse CHG when funding is available, with no additional costs or interest charged. (3) On January 31, 2024, the organization entered into an Asset Management Agreement with CHG to oversee operations, maintenance, record-keeping, and reporting for the property. The agreement provides for reasonable compensation in accordance with IRS regulations, including Rev. Proc. 2017-13, for 501(c)(3) bond-financed properties. The compensation structure is not based on net profits and maintains the organization's ultimate control and oversight. Following procedures under IRC Section 4958, corresponding regulations, and the organization's Conflict of Interest Policy, all arrangements were approved by disinterested directors who determined them to be fair, reasonable, and in furtherance of the organization's exempt purposes of providing affordable housing. Form 990, Part VI, Section B, Line 11b A copy of the Form 990 was provided to the officers and directors for review and comment prior to filing. Form 990, Part VI, Section B, Line 12c Upon engagement, election, or hiring, directors, officers, and key employees agree to comply with the conflict of interest policy and to disclose any conflicts of interest, which are then handled in accordance with the policy. Form 990, Part VI, Section C, Line 18 The organization's Form 1023 and Form 990 returns are accessible to the public through the California Attorney General Charities Registry. The organization can also make such documents available upon written request. Form 990, Part VI, Section C, Line 19 Documents subject to public disclosure or inspection are accessible through the California Attorney General Charities Registry or can be made available upon written request to the organization. Schedule D, Parts XI - XIII The organization had independent audited financial statements prepared for the period July 1, 2023 through June 30, 2024 to comply with certain financing requirements. This audit period includes the 6-month short period covered by this return (January 1, 2024 through June 30, 2024). Differences between amounts reported in the audited financial statements and this return are attributable to the different reporting periods, with a net difference of $23,486 representing expenses that occurred prior to the short period. catalyst impact fund 1 llc 501 W Broadway Ste 1540 San Diego CA 921013770 934535352 real estate title-holding CA -1377439 92636370 Catalyst Impact Fund Inc false false false false false false false false false false false false false false false false false false false