Tampa School Development Corp

Nonprofit profile at a glance

EIN
593557449
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Tampa, FL, USA
Phone
8138742402
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$11,801,874
Expenses
$11,665,531
Assets
$18,164,864
Liabilities
$11,666,711

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

Leadership & pay

14 people listed

Executive titles in this filing

  • THERESE HOLMES (PRESIDENT)
  • DR MADELINE O'DEA (PRESIDENT EM)
  • JOE SANSONETTI (CEO)

Highest reported compensation

  • DR MADELINE O'DEA (PRESIDENT EM): $160,000 total reported compensation
  • JOE SANSONETTI (CEO): $130,662 total reported compensation
  • NICOLE MORGADO (DIRECTOR DEV): $107,400 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 is a charter school for the purpose of serving students in kindergarten through the 8th grade by creating a zest for life-long learning through the developmental-interactive approach based on the bank street college of education philosophy. This approach is achieved through the collaborative efforts of students, parents, faculty, and civic environment creating a mutual respect for each other.

What it reported doing in 2024

Charter school sponsored by the school board of hillsborough county, Florida

Operating model

Revenue model
Earned-program. 95% 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 filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 70
  • Accountability: 90
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.8%; rating input score 99
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 1.56; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.64; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 6%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: 6.5% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 6.3% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 98.8% of revenue deployed · 100% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $11.7M in reported program spending
  • Leadership: top reported pay $160K · 14 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $175K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.