Tampa Bay Academy Inc

Analysis

Tampa Bay Academy Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in May 2021, 5 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, Tampa Bay Academy Inc reported income of $862k and spending of $916k, spending 106% of what it took in. Across the 5 years on record, from December 2017 to June 2023, income grew from $55k to $862k (+1480%), an average of +99% a year. The sharpest change came in the year to December 2018, when income rose by 410%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Tampa Bay Academy Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within FL. Charities of a similar size with the same main cause include Southern Madison County Volunteer Ambulance Corps Inc ($862k), Habitat for Humanity International Inc ($862k) and Oregon State Capitol Foundation ($862k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $50k (5.5% of expenses). Other salaries and wages came to $350k. At year end it held assets of $232k against liabilities of $0, net assets of $232k.

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.