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Nonprofiteer
← TAMPA BAY ECONOMIC PROSPERITY FOUNDATION

Form 990 for tax year 2023

Filed by TAMPA BAY ECONOMIC PROSPERITY FOUNDATION.

Totals

Total revenue
$75,000
Total expenses
$172,314
Contributions and grants received
$75,000
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$908,235
Total liabilities, end of year
$57,699
Net assets or fund balances, end of year
$850,536
Program services expenses (Part IX)
$164,969
Management and general expenses
$7,345
Fundraising expenses
$0
Program service expenses (Part III)
$164,969

Program services were 95.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $75,000

Functional expenses

Part IX, the statement of functional expenses.

  • 12 · Advertising and promotion

    total $5,122 · management and general $5,122

  • 24a · Other expenses: PROGRAM EXPENSES

    total $164,969 · program services $164,969

  • 24b · Other expenses: BANK FEES

    total $1,820 · management and general $1,820

  • 24c · Other expenses: SUPPLIES

    total $202 · management and general $202

  • 24d · Other expenses: MISC EXPENSES

    total $201 · management and general $201

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $972,532 · end of year $908,235

  • 25 · Other liabilities

    beginning of year $24,682 · end of year $57,699

  • 27 · Net assets without donor restrictions

    beginning of year $458,077 · end of year $336,112

  • 28 · Net assets with donor restrictions

    beginning of year $489,773 · end of year $514,424

Mission and programs · 2023

Mission

THE ORGANIZATION WILL CONDUCT SCIENTIFIC RESEARCH ON A VARIETY OF SOCIAL WELFARE ISSUES FACING THE TAMPA METROPOLITAN AREA. THE RESEARCH WILL FOCUS ON UNDERSTANDING THE NEEDS OF LOCAL BUSINESSES AND INDUSTRIES IN THE TAMPA AREA, AS WELL AS THE NEEDS OF UNEMPLOYED, UNDEREMPLOYED AND UNDERSERVED RESIDENTS OF THE AREA. THROUGH ITS RESEARCH, THE ORGANIZATION WILL AIM TO IDENTIFY THE SKILL DEFICIENCIES IN THE LOCAL WORKFORCE AND OTHER BARRIERS TO ECONOMIC GROWTH AND EXAMINE HOW CERTAIN SOCIAL FACTORS AFFECT THE ECONOMIC PROSPERITY OF TAMPA RESIDENTS. THE RESEARCH WILL BE CONDUCTED BY PAID EMPLOYEES OF THE ORGANIZATION AND WILL BE FUNDED BY GRANTS AND DONATIONS TO THE ORGANIZATION

Activities or mission (Part I)

TO CONDUCT RESEARCH AND EDUCATE OUR COMMUNITY ABOUT ISSUES THAT AFFECT JOB CREATION AND ECONOMIC OPPORTUNITY IN TAMPA BAY.

  • THE TAMPA BAY ECONOMIC PROSPERITY FOUNDATION, WHILE STILL YOUNG, IS HAVING AN OUTSIZED IMPACT ON UNDERSERVED COMMUNITIES IN TAMPA.OUR CERTUP CAMPAIGN EVOLVED IN SEVERAL MEANINGFUL WAYS. FIRST, WE AUGMENTED THE NUMBER OF PROGRAMS WE PROMOTED WITH SEVERAL NEW ALLIED HEALTH PROGRAMS, INCLUDING RESPIRATORY CARE, SONOGRAPHY, DENTAL HYGIENE AND NUCLEAR MEDICINE. WE ALSO ADDED AN ELECTRICAL LINE WORKER TRAINING PROGRAM IN PARTNERSHIP WITH TECO AND PROMOTED OUR BUILDING AND CONSTRUCTION CERTIFICATE AND DEGREE PROGRAMS TO HELP MORE LOCAL RESIDENTS GAIN ACCESS TO THIS BOOMING INDUSTRY. SECOND, WE CREATED A HIGHLY EFFICIENT, COST-EFFECTIVE STRATEGY THAT LEVERAGED SOCIAL MEDIA TO DRIVE LEADS. THE RESULTS WERE TRULY IMPRESSIVE, WITH THIS CAMPAIGN GENERATING THIRTY-THREE PERCENT MORE LEADS USING TWENTY PERCENT LESS BUDGET THAN THE PREVIOUS ONE. WE'VE SEEN NOTABLE INCREASES IN PROGRAM ENROLLMENTS COMING FROM CERTUP'S TARGETED ZIP CODES, SO WE KNOW THIS CAMPAIGN IS WORKING. WE'RE EAGER TO BUILD UPON ITS SUCCESS AND INTRODUCE PROSPECTIVE STUDENTS TO NEW PROGRAMS LIKE FINTECH IN THE NEXT ONE.THE FOUNDATION WAS PLEASED TO SUPPORT THE STARTUP COSTS FOR OPPORTUNITY TAMPA BAY, INC., WHICH IS IMPLEMENTING THE PLANS FOR COMMERCIAL AND RESIDENTIAL REDEVELOPMENT IDENTIFIED IN THE EAST TAMPA INDUSTRIAL DISTRICT MASTER PLAN THAT WE SUPPORTED LAST YEAR. PLANS FOR A LIVE LEARN DEVELOPMENT THAT INCLUDE MORE THAN ONE HUNDRED UNITS OF AFFORDABLE HOUSING SITUATED NEXT TO THE EAST TAMPA INNOVATION CENTER WILL TRANSFORM THIS NEIGHBORHOOD IN MYRIAD WAYS.

    Expenses $164,969

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dr Ken Atwater PhD

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Colleen Chappell

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Patty Hamilton

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Nathaniel Doliner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Felicia Harvey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Craig Richard

    PRESIDENT/CEO

    Total calculated
    $551,381
    From this org
    $0
    From related orgs
    $492,298
    Other
    $59,083
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $399,423 related
    Bonus
    $0 + $85,000 related
    Other
    $0 + $7,875 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $49,100 related
    Filer's total
    $0 + $558,648 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
OFFICERS OF THE FILING ORGANIZATION ARE COMPENSATED BY TAMPA HILLSBOROUGH ECONOMIC DEVELOPMENT CORPORATION, A RELATED ORGANIZATION. THEDC USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION OF THE CEO: ENGAGEMENT OF A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION STUDY, THE REVIEW OF FORM 990 OF OTHER ORGANIZATIONS AND FINALLY THE APPROVAL OF THE COMPENSATION COMITTEE AND BOARD OF DIRECTORS.
PART I, LINE 4B
DURING FY2024, CRAIG RICHARD PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE RELATED ORGANIZATION, TAMPA HILLSBOROUGH ECONOMIC DEVELOPMENT CORPORATION (EIN: 27-1010441) CONTRIBUTED $126,238 INTO THE PLAN ON MR. RICHARD'S BEHALF FOR FY24.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
24 February 2025
IRS schema version
2023v6.0
Source object
202500679349300815

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