The Spring of Tampa Bay Inc

Analysis

The Spring of Tampa Bay Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in June 1978, 48 years ago. 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 June 2023, The Spring of Tampa Bay Inc reported income of $9.6m and spending of $7.4m, leaving 23% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.0m to $9.6m (+92%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 40%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Spring of Tampa Bay Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Bioversity International USA Inc ($9.6m), Opportunity Center Incorporated ($9.6m) and Jeffrey Modell Foundation Inc ($9.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $402k (5.4% of expenses). Other salaries and wages came to $3.6m. At year end it held assets of $7.0m against liabilities of $833k, net assets of $6.2m. It reported 118 employees.