Tampa Bay Wave Inc

Analysis

Tampa Bay Wave Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in March 2012, 14 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Tampa Bay Wave Inc reported income of $1.9m and spending of $2.1m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.9m (+75%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 32%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Tampa Bay Wave Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Midtown Improvement and Development Corporation ($1.9m), Community Empowerment Fund ($1.9m) and 150 Hooper Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $296k (14% of expenses). Other salaries and wages came to $566k. At year end it held assets of $1.9m against liabilities of $1.4m, net assets of $543k. It reported 16 employees.