Tampa Bay United Inc

Analysis

Tampa Bay United Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in March 2015, 11 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 May 2024, Tampa Bay United Inc reported income of $4.6m and spending of $4.8m, spending 104% of its income. Across the 6 years on record, from May 2019 to May 2024, income grew from $3.8m to $4.6m (+20%), an average of +3.7% a year. The sharpest change came in the year to May 2024, when income rose by 24%. Over the whole period it spent 98% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Tampa Bay United Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Fair and Exposition Society of Jones County Inc ($4.6m), Chesterfield Hockey Association ($4.6m) and Downtown Boxing Gym Youth Program ($4.6m).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 13% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $331k (6.9% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $1.5m against liabilities of $1.0m, net assets of $435k. It reported 32 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.