TAMPA BAY BAPTIST FOUNDATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Principal Officer

ELBERT NASWORTHY

Tax Period

2023-01-01 to 2023-12-31

TAMPA BAY BAPTIST FOUNDATION INC, founded in 1974, is a micro nonprofit that reported $57K in total revenue in fiscal year 2023. Revenue fell 68% from the prior year — a significant decline worth monitoring. Expenses of $166K exceeded revenue, resulting in a 190% operating deficit.

Mission

TO ASSIST CHURCHES IN THE TAMPA BAY BAPTIST ASSOCIATION IN THE PROCLAMATION OF THE GOSPEL OF JESUS CHRIST

Program Service Accomplishments

Program 1

Expenses: $87,001

TO HELP FIVE CHURCHES WITH PHYSICAL IMPROVEMENTS TO THEIR FACILITIES. INCLUDES EXTENSIVE INTERIOR WORK TO CHURCHES FOR ELECTRICAL WORK INCLUDING LIGHTING SYSTEM,FIRE SAFETY SYSTEM,AIR CONDITIONING...

TO HELP FIVE CHURCHES WITH PHYSICAL IMPROVEMENTS TO THEIR FACILITIES. INCLUDES EXTENSIVE INTERIOR WORK TO CHURCHES FOR ELECTRICAL WORK INCLUDING LIGHTING SYSTEM,FIRE SAFETY SYSTEM,AIR CONDITIONING SYSTEM, FLOORING AND WINDOWS.

Program 2

Expenses: $50,888

$50,888 IN CONTRIBUTIONS WERE MADE TO THE TAMPA BAY BAPTIST ASSOCIATION TO ASSIST WITH ITS ENCOURAGE, EQUIP AND MULTIPLY MINISTRIES AND TO HELP PROVIDE ASSISTANCE TO TAMPA BAY AREA SOUTHERN BAPTIST CHURCHES WITH NEEDED REPAIRS, EQUIPMENT, PROPERTY, DOOR TO DOOR PROMOTIONS AND OTHER SPECIFIC NEEDS IN HELPING THE CHURCHES CARRY OUT THE GREAT COMMISSION IN THE TAMPA BAY AREA.

Program 3

Expenses: $20,100

FOUR CHURCHES IN THE ASSOCIATION RECEIVED GIFTS TOTALING $20,100 TO ASSIST THEM WITH PROGRAMMING AND MINISTRY NEEDS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,600

Program Service Revenue $0

Investment Income $54,560

Other Revenue $0

TOTAL REVENUE $57,160

Expense Breakdown

Grants Paid $157,989

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $157,989

Other Expenses $7,783

TOTAL EXPENSES $165,772

Year-over-Year Comparison

	2023	2022	Change
Revenue	$57,160	$180,849	-0.7%
Expenses	$165,772	$230,557	-0.3%
Net Income	$-108,612	$-49,708	+1.2%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BOB PERRY	DIRECTOR	0.00	Director	$0	$0	$0
JIM WILLIS	DIRECTOR	0.00	Director	$0	$0	$0
DAVID KELLEY	DIRECTOR	0.00	Director	$0	$0	$0
BILL HUMPHRIES	DIRECTOR	0.00	Director	$0	$0	$0
BART AZZARELLI	DIRECTOR	0.00	Director	$0	$0	$0
RICHARD NIELSEN	DIRECTOR	0.00	Director	$0	$0	$0
JOHN GRANT	DIRECTOR	0.00	Director	$0	$0	$0
RUSSELL W OSBORNE	TREASURER	1.00	Officer Director	$0	$0	$0
ELBERT NASWORTHY	PRESIDENT	1.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$57,160	$165,772	$1,911,250	$-108,612
2022	$180,849	$230,557	$1,918,766	$-49,708
2021	$368,053	$199,589	$2,291,869	$168,464
2020	$245,024	$97,694	$2,033,553	$147,330
2019	$46,399	$176,939	$1,724,157	$-130,540
2018	$175,612	$240,705	$1,621,905	$-65,093