Tampa Bay Innovation Hub Inc

Nonprofit profile at a glance

EIN
824177489
IRS 990 coverage
2018–2025
Forms available
Form 990 2025, Form 990-T 2022
Location
Tampa, FL, USA
Phone
8137554900
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Adult, Continuing Education

Official website

Reported finances

Revenue
$3,104,313
Expenses
$3,927,218
Assets
$16,751,744
Liabilities
$13,849,874

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • TIM HOLCOMB (CEO)

Highest reported compensation

  • TIM HOLCOMB (CEO): $486,610 total reported compensation
  • KELLY KEHOE (VP FINANCE & ADMINISTRATION): $146,074 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Tampa bay innovation hub, dba embarc collective tampa bay, helps tampa bay's startup talent build bold, scalable, thriving companies.

What it reported doing in 2025

Conducting activities to attract promising job-creating startups to the tampa bay area, possibly including awarding grants to startups willing to relocate; conducting research on successful startups; community development events, including education and training for entrepreneurs and employees of startup companies in the tampa bay region and unemployed/underemployed individuals in the tampa bay region. This includes initiatives with/for government, colleges and universities, and corporate partnerships.

Operating model

Revenue model
Donor-supported. 69% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 79
  • Accountability: 87
  • Sustainability: 28
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.7%; rating input score 82
  • Fundraising efficiency: $7.61 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.8%; rating input score 94; 25th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -26.5%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 4.27; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 16.1%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 16.3% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 11% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81.7% of spending went to programs
  • Governance: 15 of 16 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $3.2M in reported program spending
  • Leadership: top reported pay $487K · 17 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $1.5M reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 8 filing years from 2018 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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: Fundraising efficiency scored 27/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.