Overview
What is Triumph Gulf Coast Inc?
Triumph Gulf Coast Inc is a nonprofit organization based in Tallahassee, Florida, established to manage and distribute funds from economic damages resulting from the 2010 Deepwater Horizon oil spill. The organization focuses on the recovery, diversification, and enhancement of the eight northwest Florida counties most affected by the spill: Escambia, Santa Rosa, Okaloosa, Walton, Bay, Gulf, Franklin, and Wakulla. Triumph Gulf Coast Inc administers grants to projects or programs that align with these priorities, including tax reduction within the affected counties, public infrastructure projects, local government equipment and personnel, and educational programs. Grants are also awarded for workforce development and promoting tourism. The organization's mission is to ensure these funds are utilized effectively for the economic benefit of the disproportionately affected areas.
Official website here: www.myfloridatriumph.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Triumph Gulf Coast Inc has received a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. This rating is based entirely on the Accountability & Finance beacon score, which reflects the organization's strong governance practices and responsible financial management.
The organization excels in numerous areas, achieving perfect scores for its independent board members, financial oversight, and transparency regarding conflicts of interest and whistleblower policies. With a remarkable program expense ratio of 99.30%, Triumph Gulf Coast shows a strong commitment to allocating funds directly toward its mission.
While the data highlights Triumph Gulf Coast's strengths, it is essential to consider the emphasis on financial metrics rather than programmatic outcomes. Potential donors may want to explore how effectively the organization is achieving its mission beyond just financial accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Triumph Gulf Coast Inc legitimate?
Triumph Gulf Coast Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Triumph Gulf Coast Inc 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $97,734
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.myfloridatriumph.com
What is the mission statement of Triumph Gulf Coast Inc?
Triumph Gulf Coast Inc is a non-profit organization established to manage the distribution of funds recovered by the Florida Attorney General due to economic damages caused by the 2010 Deepwater Horizon oil spill. The organization's primary role is to oversee the expenditure of 75% of these funds, which are allocated for the recovery, diversification, and enhancement of eight North Florida counties disproportionately affected by the oil spill. These counties are Escambia, Santa Rosa, Okaloosa, Walton, Bay, Gulf, Franklin, and Wakulla. The mission of Triumph Gulf Coast Inc is to utilize these funds to restore, develop, and improve the affected areas, thus contributing to their long-term growth and resilience.
Official website here: www.myfloridatriumph.com
Who is the CEO of Triumph Gulf Coast Inc?
David M Bear is the Chair of Triumph Gulf Coast Inc.
Official website here: www.myfloridatriumph.com
What is the revenue of Triumph Gulf Coast Inc?
Triumph Gulf Coast Inc's revenue in 2022 was $85,000,000.
Official website here: www.myfloridatriumph.com
Who are the executives of Triumph Gulf Coast Inc and what are their salaries?
The average compensation at Triumph Gulf Coast Inc during 2022 was $97,734. There is 1 employee and 11 volunteers at Triumph Gulf Coast Inc.
Here are 8 key members and their salaries:
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- Compensation: $97,734
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Official website here: www.myfloridatriumph.com
Where can I find the form 990 for Triumph Gulf Coast Inc?
Triumph Gulf Coast Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.myfloridatriumph.com
Learn more at the official website: www.myfloridatriumph.com
Mission Statement of Triumph Gulf Coast Inc
Triumph Gulf Coast Inc, a nonprofit corporation, was established to manage the distribution of funds recovered by the Florida Attorney General for economic damages caused to the state by the 2010 Deepwater Horizon oil spill. The organization's primary objective is to allocate 75% of these funds towards the recovery, diversification, and enhancement of eight Northwest Florida counties disproportionately impacted by the oil spill. These counties are Escambia, Santa Rosa, Okaloosa, Walton, Bay, Gulf, Franklin, and Wakulla. By doing so, Triumph Gulf Coast Inc plays a vital role in helping these counties rebuild and recover from the economic devastation brought about by the environmental disaster.
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Impact
October, 2024
Triumph Gulf Coast Inc significantly influences the economic recovery and diversification of eight Northwest Florida counties affected by the 2010 Deepwater Horizon oil spill. By overseeing the expenditure of funds recovered for economic damages, it addresses critical needs in Escambia, Santa Rosa, Okaloosa, Walton, Bay, Gulf, Franklin, and Wakulla counties.
The organization channels financial resources into various projects aimed at enhancing the local economy. This includes supporting public infrastructure improvements, which are vital for economic growth and community resilience. Additionally, Triumph Gulf Coast provides grants to local governments to prepare for future disasters, ensuring that communities are better equipped to handle emergencies.
Education and workforce development also play a significant role in its initiatives. By funding programs that enhance technological skills and career readiness for students, Triumph Gulf Coast helps to cultivate a skilled workforce that can adapt to changing economic demands. The focus on industry certifications and alternative educational pathways further strengthens the talent pool in these regions.
Moreover, the promotion of tourism through targeted grants not only fosters economic activity but also elevates the visibility of these counties as destinations. Thus, Triumph Gulf Coast Inc is instrumental in shaping a sustainable and diverse economic landscape, directly addressing the challenges posed by the oil spill while fostering long-term growth and resilience in the community.
This information is meant to be a general summary of Triumph Gulf Coast Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $85,000,000
Assets and Liabilities:
- Total Assets: $544,199,482
- Total Liabilities: $2,029,194
- Net Assets: $542,170,288
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Organization Details
Founding Year
2017
Phone
(850) 387-9405Principal Officer
David M Bear
Main Address
PO BOX 12007, TALLAHASSEE, FL, 32317
Website
www.myfloridatriumph.comNTEE Category
Code: P20 - Human services
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