Tampa Bay Economic Prosperity Foundation Inc

Nonprofit profile at a glance

EIN
832026345
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019
Location
Tampa, FL, USA
Phone
8135182624
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$212,945
Expenses
$195,014
Assets
$873,389
Liabilities
$4,923

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

Leadership & pay

7 people listed

Executive titles in this filing

  • CRAIG RICHARD (PRESIDENT/CEO)

Highest reported compensation

  • CRAIG RICHARD (PRESIDENT/CEO): $551,381 total reported compensation

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

Overview

Mission

The organization will conduct scientific research on a variety of social welfare issues facing the tampa metropolitan area. The research will focus on understanding the needs of local businesses and industries in the tampa area, as well as the needs of unemployed, underemployed and underserved residents of the area. Through its research, the organization will aim to identify the skill deficiencies in the local workforce and other barriers to economic growth and examine how certain social factors affect the economic prosperity of tampa residents. The research will be conducted by paid employees of the organization and will be funded by grants and donations to the organization

What it reported doing in 2024

The tampa bay economic prosperity foundation is having an outsized impact on underserved communities in tampa. The certup campaign was our most successful to date in terms of return on investment. We augmented the number of programs we promoted in allied health, adding courses in nuclear medicine and medical coding. We continued promoting the electrical line worker training program in partnership with teco, which resulted in completely selling out the programs offered through spring 2026. Our highly efficient, cost-effective strategy that leveraged video and social media to drive leads. The 2025 campaign yielded a 65% increase in leads and a 150% jump in click-through rates to hillsborough college programs, the most popular of which included welding, electrical line worker, auto collision and sonography. The foundation was pleased to continue loaning funds to opportunity tampa bay, inc., which is implementing the plans for commercial and residential redevelopment identified in the east tampa industrial district master plan. Otbi will continue paying back the loans from the foundation through fy2026. Plans for a live learn development that include 118 units of affordable housing situated next to the east tampa innovation center were approved by the city of tampa this year and are expected to break ground next year.

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 - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 65
  • Accountability: 100
  • Sustainability: 57
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.5%; rating input score 77
  • Program expense ratio: 83.6%; rating input score 84
  • Fundraising efficiency: $65.73 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 8.4%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 4.48; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 30.3%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 5% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: -4.3% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 19.3% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 76.5% of revenue deployed · 83.6% of spending went to programs
  • Governance: 6 of 6 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $163K in reported program spending
  • Leadership: top reported pay $551K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.