Bowles23foundation Inc

Nonprofit profile at a glance

EIN
882451981
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Tampa, FL, USA
Phone
8132695351
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$575,680
Expenses
$541,402
Assets
$49,036
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • TANEKA SOULE-BOWLES (PRESIDENT)
  • TODD R BOWLES (VICE PRESIDENT)

People named in this filing

  • TANEKA SOULE-BOWLES (PRESIDENT)
  • TODD R BOWLES (VICE PRESIDENT)
  • TROY BOWLES (CHAIRMAN)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Bowles23foundation, inc is an independent, not-for-profit corporation, and the corporation's mission is to boldly promote diversity and inclusivity in high-end fashion. Our unwavering dedication to empowering young girls who share our appearance to succeed and break barriers drives us forward. We aim to revolutionize the fashion industry and create a lasting positive impact through our philanthropy. Guided by our faith and family legacy, we believe that the spirit of giving is always in style.

What it reported doing in 2024

Promote fashion shows that share our goal.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 81% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 74
  • Accountability: 70
  • Sustainability: 46
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.1%; rating input score 89
  • Program expense ratio: 94.7%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 5th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 45.1%; rating input score 45; 28th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 0.09; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -34.3% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -28.4% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 107.5% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 89.1% of revenue deployed · 94.7% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $513K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 45/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.