New Beginnings of Tampa Inc

Analysis

New Beginnings of Tampa Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in December 2004, 22 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Beginnings of Tampa Inc reported income of $1.8m and spending of $1.8m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.8m (+53%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 26%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Beginnings of Tampa Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Goodheart Housing Development Fund Company Inc ($1.8m), Yukon-Koyukuk Elder Assisted Living Consortium ($1.8m) and Helping Hands Community Partners Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. Other salaries and wages came to $51k. At year end it held assets of $1.3m against liabilities of $25k, net assets of $1.3m.

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.