Tampa Bay Partnership For Regional Economic Development Inc
- Assets
- $3.8m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 5
- Location
- Tampa, FL
- Founding
- 09/1994
- Data as of
- 09/2023
- EIN
- 59-3248071
Organization Overview
Tampa Bay Partnership For Regional Economic Development Inc is located in Tampa, FL. The organization was established in 1994. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Tampa Bay Partnership For Regional Economic Development Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tampa Bay Partnership For Regional Economic Development Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2023, Tampa Bay Partnership For Regional Economic Development Inc generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $1.2m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
COMMITTED TO CREATING A UNIFIED, COMPETITIVE AND PROSPEROUS TAMPA BAY
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGIONAL INDICATORS: THE CORNERSTONE OF THE PARTNERSHIP'S WORK IS THE REGIONAL COMPETITIVENESS REPORT, A DATA-BASED ASSESSMENT OF TAMPA BAY'S STRENGTHS AND WEAKNESSES, COMPARED TO 19 PEER AND ASPIRATIONAL MARKETS NATIONWIDE. SINCE ITS LAUNCH IN 2017, THIS REPORT HAS CONTRIBUTED TO THE DEVELOPMENT OF COMMON METRICS AND SHARED PRIORITIES FOR THE TAMPA BAY REGION, AS WELL AS THE ESTABLISHMENT OF KEY PUBLIC POLICY AREAS FOR THE PARTNERSHIP. IN 2023, THE PARTNERSHIP PUBLISHED THE SIXTH EDITION OF THE REGIONAL COMPETITIVENESS REPORT, WHICH WAS RELEASED AT THE ANNUAL STATE OF THE REGION COMMUNITY EVENT. IN 2023, THE PARTNERSHIP PARTNERED WITH FLORIDA BLUE TO PUBLISH A REPORT, BENCHMARKING UPTOWN, A MINIATURE VERSION OF OUR REGIONAL COMPETITIVENESS REPORT FOCUSING ON ONE NEIGHBORHOOD IN THE CITY OF TAMPA (CONTINUED ON SCHEDULE O) THE REPORT FOCUSED ON ACCESS TO TRANSPORTATION, HEALTHCARE, AND EDUCATION AMONG MANY OTHER METRICS TO REVEAL THE DIFFERENCES FACED BY RESIDENTS OF THE UPTOWN NEIGHBORHOOD IN COMPARISON TO THE CITY AND LARGER REGION. THE REPORT WAS ROLLED OUT TO LOCAL ELECTED OFFICIALS, BUSINESS OFFICIALS, AND NONPROFIT STAKEHOLDERS WITH A BUS TOUR THROUGH THE NEIGHBORHOOD.
TALENT: THE REGIONAL COMPETITIVENESS REPORT CONTINUES TO REVEAL SIGNIFICANT OPPORTUNITIES FOR IMPROVEMENT THROUGHOUT THE REGION'S TALENT PIPELINE, PARTICULARLY IN COMPARISON TO ITS PEER COMMUNITIES. THE PARTNERSHIP HAS SUBDIVIDED THE TALENT WORKING GROUP INTO TWO SUBCOMMITTEES, FOCUSING ON WORKFORCE AND EDUCATION. THE WORKFORCE SUBCOMMITTEE HAS ELECTED TO FOCUS ON MOVING THE NEEDLE ON THE HIGH NUMBER OF DISCONNECTED YOUTH (THOSE 16-24 NEITHER EMPLOYED NOR ENROLLED IN SCHOOL) IN OUR REGION. THE GROUP CONTINUES TO EXPLORE BEST PRACTICES REGARDING INCREASING HIGH SCHOOL GRADUATION RATES, CONNECTING GRADUATING HIGH SCHOOL STUDENTS TO CAREER PATHS IN INDUSTRIES WHERE ADVANCED DEGREES MAY NOT BE NEEDED, AND EXPLORING IMPROVING THE NUMBER OF CREDENTIALS AND CERTIFICATIONS RECEIVED BY RESIDENTS IN THE REGION. THE SUBCOMMITTEE IS ALSO FOCUSED ON INCREASING SKILLS-BASED HIRING AMONG EMPLOYERS IN THE REGION TO HELP BOOST THE LABOR FORCE PARTICIPATION RATE IN THE REGION. THE EDUCATION SUBCOMMITTEE FOCUSES ON IMPROVING THE NUMBER OF 3 & 4-YEAR-OLDS ENROLLED IN SCHOOL, KINDERGARTEN READINESS, AND THIRD GRADE READING SCORES WITH AN EYE FOR HOW THESE METRICS IMPACT THE SUCCESS OF STUDENTS IN THE FUTURE AND THE TALENT PIPELINE.
HOUSING AFFORDABILITY: THE 2023 REGIONAL COMPETITIVENESS REPORT REVEALED SIGNIFICANT AFFORDABILITY ISSUES IN THE TAMPA BAY REGION, ESPECIALLY AROUND HOUSING. IN RESPONSE, THE PARTNERSHIP ESTABLISHED A HOUSING AFFORDABILITY TASK FORCE TO FURTHER EXPLORE THE ISSUE AND SHEPHERD A RESEARCH INITIATIVE FROM THE PARTNERSHIP. THE RESEARCH REPORT, WHICH WILL EXPLORE THE HOUSING AFFORDABILITY ISSUE FROM BOTH A QUANTITATIVE AND QUALITATIVE APPROACH, WILL EXAMINE THE NEEDS WITHIN THE HILLSBOROUGH, PASCO, AND PINELLAS COUNTY-REGION WHILE ALSO MAPPING OUT THE FUTURE NEEDS FOR HOUSING. THIS RESEARCH WILL BE ONGOING INTO THE NEXT FISCAL YEAR AND GRANT SUPPORT IS PROVIDED BY JPMORGAN CHASE AND DUKE ENERGY.
TRANSPORTATION: TRANSPORTATION CONTINUES TO BE ONE OF THE REGION'S GREATEST CHALLENGES, AS THE ABILITY TO PROVIDE MEANINGFUL ECONOMIC OPPORTUNITIES AND A HIGHER QUALITY OF LIFE TO TAMPA BAY RESIDENTS BECOMES INCREASINGLY CONSTRAINED BY A LACK OF TRANSIT OPTIONS AND LIMITED REGIONAL CONNECTIVITY. TO CHANGE THAT DYNAMIC, THE PARTNERSHIP ADVOCATES FOR REGIONAL CONNECTIVITY AND IMPROVING TRANSIT FUNDING AND AVAILABILITY. THE PARTNERSHIP CONTINUES TO ADVOCATE FOR INCREASED REGIONAL TRANSPORTATION PLANNING AND HAS HELPED TO CONVENE REGIONAL MEETINGS BETWEEN HILLSBOROUGH, PASCO, AND PINELLAS COUNTY OFFICIALS TO MOVE TOWARDS CONSOLIDATION OF THEIR THREE SEPARATE METROPOLITAN PLANNING ORGANIZATIONS (MPOS) INTO ONE REGIONAL BODY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bemetra Simmons President, CEO | Officer | 38 | $306,977 |
Brian Auld Director | Trustee | 1 | $0 |
Pratt Benjamin Director | Trustee | 1 | $0 |
Brian Butler Director | Trustee | 1 | $0 |
Wesley Helen Director | Trustee | 1 | $0 |
Richard Hume Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,200,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,210,250 |
| Total Program Service Revenue | $0 |
| Investment income | $125 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,210,375 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $435,080 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $211,705 |
| Pension plan accruals and contributions | $20,486 |
| Other employee benefits | $37,197 |
| Payroll taxes | $44,460 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,540 |
| Fees for services: Accounting | $102,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $158,408 |
| Advertising and promotion | $1,013 |
| Office expenses | $12,272 |
| Information technology | $28,999 |
| Royalties | $0 |
| Occupancy | $65,307 |
| Travel | $43,051 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,527 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,810 |
| Insurance | $5,796 |
| All other expenses | $150 |
| Total functional expenses | $1,209,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $170,281 |
| Pledges and grants receivable | $56,250 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,680 |
| Net Land, buildings, and equipment | $140,993 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,439,716 |
| Total assets | $3,814,920 |
| Accounts payable and accrued expenses | $93,415 |
| Grants payable | $0 |
| Deferred revenue | $249,368 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $77,315 |
| Total liabilities | $420,098 |
| Net assets without donor restrictions | $3,394,822 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,814,920 |
Grants Awarded
Over the last fiscal year, Tampa Bay Partnership For Regional Economic Development Inc has awarded $125,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KEEP HILLSBOROUGH MOVING PURPOSE: TRANSPORTATION INITIATIVES | $100,000 |
GREATER TAMPA CHAMBER OF COMMERCE PURPOSE: TRANSPORTATION | $25,000 |