Tampa Bay Black Business Intiative Funds

Nonprofit profile at a glance

EIN
592849317
IRS 990 coverage
2011–2023
Forms available
Form 990 2023, Form 990-N 2023
Location
Tampa, FL, USA
Phone
8134254023
Rating
48
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$74,377
Expenses
$41,070
Assets
$745,660
Liabilities
$54,315

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

1 person listed

Executive titles in this filing

  • ALBERT LEE (PRESIDENT)

People named in this filing

  • ALBERT LEE (PRESIDENT)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Providing financial assistance in the form of loans or guarantees to new and developing minority owned businesses

What it reported doing in 2023

Provides loan garantees over 500000 to potential and current minority business

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - Most voting board members are independent and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 18
  • Transparency & Controls: 58
  • Accountability: 94
  • Sustainability: 73
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 15.3%; rating input score 15
  • Program expense ratio: 27.6%; rating input score 28
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 20th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 44.8%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 18.16; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -25% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -2.1% per year; rating input score 0; 54th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 15.3% of revenue deployed · 27.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 6 filing years from 2011 to 2023
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 15/100.
  • High — Financial Efficiency: Program expense ratio scored 28/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.