Tampa Bay Workforce Alliance Inc

Analysis

Tampa Bay Workforce Alliance Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in February 2001, 25 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, Tampa Bay Workforce Alliance Inc reported income of $20.8m and spending of $21.0m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.1m to $20.8m (+21%), an average of +5.0% a year. The sharpest change came in the year to June 2021, when income rose by 89%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Tampa Bay Workforce Alliance 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 97th percentile, and in the 97th percentile within FL. Charities of a similar size with the same main cause include Hospice Foundation of Greater Baton Rouge ($20.7m), Bellevue Christian School ($20.8m) and Hope Atlanta Inc ($20.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $933k (4.5% of expenses). Other salaries and wages came to $5.8m. At year end it held assets of $5.2m against liabilities of $4.4m, net assets of $765k. It reported 587 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.