TB Academy
Legal name: Tampa Bay Academy
Nonprofit profile at a glance
- EIN
- 814535354
- IRS 990 coverage
- 2020–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-N 2022
- Location
- Tampa, Florida, USA
- Phone
- (813) 284-4800
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Affiliation
- Christianity
Reported finances
- Revenue
- $1,783,692
- Expenses
- $1,836,816
- Assets
- $249,066
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- Luis Soto Jr (President)
Highest reported compensation
- Janice Torres (School Director): $70,832 total reported compensation
- Luis Soto Jr (President): $37,748 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
At Tampa Bay Academy, education is more than just academics—it's a journey guided by faith. Whether students are exploring the wonders of science, diving into literature, or developing critical thinking skills, they're doing so through a values-based lens that connects learning to life and purpose.
What it reported doing in 2024
During the fiscal year we had 203 students. We hosted activities for Hispanic Heritage Month, Thanksgiving Festival, Christmas Sing-A-Long Play, Arts activities for Black History Month, Good Friday Service and end-of-year Activities including Teacher Appreciation Week. We saw an increase in our reading and writing percentages across state testing.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- 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 - 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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 90
- Accountability: 58
- Sustainability: 32
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.2%; rating input score 92
- Program expense ratio: 89.5%; rating input score 90
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 75%; rating input score 75; 16th percentile among comparable filings
- Governance controls: 3 of 9 controls in place; rating input score 33
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -3%; rating input score 28; 28th percentile among comparable filings
- Total-asset coverage ratio: 0.14; rating input score 6; 6th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
- Officer compensation ratio: 5.9%; rating input score 51; 51st percentile among comparable filings
Growth
- Program expense growth: 22.1% per year; rating input score 100; 85th percentile among comparable filings
- Revenue growth: 23.9% per year; rating input score 100; 89th percentile among comparable filings
- Asset growth: 25.5% per year; rating input score 100; 87th percentile among comparable filings
Details
- What they do: 6 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 92.2% of revenue deployed · 89.5% of spending went to programs
- Governance: 3 of 4 board members independent · 3 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.6M in reported program spending
- Leadership: top reported pay $71K · 5 people listed
- Consistency: 24 of 24 current checks pass
- Schedules: 5 filed schedules
- Filing history: 3 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- Moderate — Accountability: Governance controls: 5 of 8 not reported.
- High — Sustainability: Operating margin scored 28/100.
- High — Sustainability: Total-asset coverage ratio scored 6/100.
- Review — Sustainability: Officer compensation ratio scored 51/100.