Tampa Bay Black Business Initiative Fund

Charity Navigator Rating: 67% (Two-Star out of Four Stars)

The Tampa Bay Black Business Initiative Fund has received a Two-Star rating from Charity Navigator, indicating a need for improvements in accountability and finance practices. The overall score is derived entirely from the Accountability & Finance beacon, which reflects significant areas of concern, particularly the absence of independent board members and missing essential policies such as a whistleblower policy. The charity's lack of a publicly accessible website, as required on their tax form, further contributes to its low score.

Despite these limitations, the organization demonstrates notable strengths in its financial management, with a high program expense ratio of 94.33%, indicating that a substantial portion of its funds directly supports its programs. Additionally, the group has effectively maintained its assets, reflected in a favorable liabilities to assets ratio of 34.75%.

Overall, while the Tampa Bay Black Business Initiative Fund shows promise in its financial stewardship and operational transparency in some areas, the absence of independent oversight and incomplete compliance with governance policies raises concerns that the organization will need to address to enhance its credibility and effectiveness.

This AI summary has been generated from information found on Charity Navigator.

Tampa Bay Black Business Initiative Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tampa Bay Black Business Initiative Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

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Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

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