Current of Tampa Bay Inc

Nonprofit profile at a glance

EIN
262833911
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Tampa, FL, USA
Phone
7275379082
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Religion Related N.E.C.
Affiliation
Christianity

Official website

Reported finances

Revenue
$208,514
Expenses
$197,891
Assets
$16,441
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • ANYE COLE (VICE PRESIDENT)
  • JASON SOWELL (PRESIDENT)

Highest reported compensation

  • JASON SOWELL (PRESIDENT): $11,200 total reported compensation
  • COREY EASTERDAY (NATIONAL DIRECTOR): $11,075 total reported compensation
  • DENISE HOUGH (OHIO AREA DIRECTOR): $3,600 total reported compensation

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

Overview

Mission

We educate communities through on-going awareness events, hosting local events at businesses & community centers and local churches about humanitarian social initiatives. We mobilize communities through three outlets - Laundry Project, Hope for Homes & Affordable Christmas.

What it reported doing in 2024

Currents Affordable Christmas is a shopping event for lower-income, working-class families to provide their children fun and exciting gifts during the holiday season. Families are invited through partnering community organizations to attend the event and purchase new, unused gifts at 1/10 the cost of the original price. Affordable Christmas makes it easy for those families who may be financially struggling, to give their children a special Christmas. In 2024, Current hosted 2 Affordable Christmas events and provided gifts for more than 305 children.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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 - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 92
  • Accountability: 58
  • Sustainability: 38
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.1%; rating input score 58
  • Program expense ratio: 61.2%; rating input score 61
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.1%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 0.08; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 13.1%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: -8.3% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 18th percentile among comparable filings
  • Asset growth: -41.9% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 58.1% of revenue deployed · 61.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 0 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $121K in reported program spending
  • Leadership: top reported pay $11K · 9 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 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.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • Review — Sustainability: Operating margin scored 51/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.