Tampa Bay Innovation Hub Inc

Analysis

Tampa Bay Innovation Hub Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in December 2018, 8 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Tampa Bay Innovation Hub Inc reported income of $2.8m and spending of $3.6m, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.0m to $2.8m (-54%), an average of -18% a year. The sharpest change came in the year to December 2022, when income rose by 195%. Over the whole period it spent 78% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Tampa Bay Innovation Hub Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include E-Polk ($2.8m), Par Excellence Academy ($2.8m) and Parkland College Foundation ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $664k (18% of expenses). Other salaries and wages came to $626k. At year end it held assets of $18.4m against liabilities of $14.0m, net assets of $4.4m. It reported 12 employees.