Tampa Bay Black Heritage Festival Inc

Nonprofit profile at a glance

EIN
593710725
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Tampa, FL, USA
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Fairs

Official website

Reported finances

Revenue
$450,683
Expenses
$452,304
Assets
$15,569
Liabilities
$48,319

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

Leadership & pay

4 people listed

People named in this filing

  • RUBY JACKSON (CHAIR)
  • FREDDIE MOORE (BOARD MEMBER)
  • MIKE WASHINGTON (BOARD MEMBER)

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

Offer the community of Tampa Bay a unique blend of African and African American art, culture and history, therefore serving as a conduit for promoting and perpetuating the art, culture and history of African Americans and African people for the benefit of all Tampa Bay residents and tourists to the Tampa Bay area. It exists to support the culturally rich and diverse Tampa Bay community by ensuring all events are inclusive of the entire community.

What it reported doing in 2024

10-Day, family friendly, cultural experience focuses on music, education, economic and social empowerment and the arts. The 2-Day Music Fest, which takes place the weekend of the MLK holiday, features local and nationally, recognized musicians, artists, poets, and craftspeople.

Operating model

Revenue model
Earned-program. 88% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 81
  • Accountability: 94
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92%; rating input score 92
  • Program expense ratio: 91.7%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Fail

Sustainability

  • Operating margin: -0.4%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 3.1; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 10.2% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 92% of revenue deployed · 91.7% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $415K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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 — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.