Florida Philanthropic Network Inc
Florida Philanthropic Network Inc shows strong recent revenue and asset growth, with no reported officer compensation, but has experienced periods of deficit spending and increasing liabilities.
EIN: 201328734 · Tampa, FL · NTEE: T012 · Updated: 2026-03-28
Is Florida Philanthropic Network Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Florida Philanthropic Network Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Florida Philanthropic Network Inc
Florida Philanthropic Network Inc (EIN: 201328734) is a nonprofit organization based in Tampa, FL, classified under NTEE code T012. The organization reported total revenue of $4.1M and total assets of $2.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Florida Philanthropic Network Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Florida Philanthropic Network Inc is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.5M |
| Total Expenses | $2.0M |
| Surplus / Deficit | +$444K |
| Total Assets | $2.7M |
| Total Liabilities | $1.6M |
| Net Assets | $1.1M |
| Operating Margin | 17.9% |
| Debt-to-Asset Ratio | 59.7% |
| Months of Reserves | 16.1 months |
Financial Health Grade: A
In 2023, Florida Philanthropic Network Inc reported a surplus of $444K with revenue exceeding expenses, holds 16.1 months of operating reserves (strong position), has a debt-to-asset ratio of 59.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Florida Philanthropic Network Inc's revenue has grown at a compound annual growth rate (CAGR) of 14.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +51.1% | +22.0% | +47.0% |
| 2022 | +20.1% | +123.4% | +73.2% |
| 2021 | +15.9% | -40.3% | +204.0% |
| 2020 | +40.7% | +27.3% | -66.5% |
| 2019 | -20.7% | -21.7% | +69.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Florida Philanthropic Network Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Florida Philanthropic Network Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $444K, with revenue exceeding expenses.
- Debt-to-asset ratio: 59.7%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all provided filing periods, indicating that no compensation was paid to officers, directors, trustees, or key employees, which is highly unusual and suggests either a volunteer leadership structure or that compensation is reported under other expense categories.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Florida Philanthropic Network Inc's IRS 990 filings:
- Significant increase in liabilities from $388,818 in 2021 to $1,630,745 in 2023, warranting further investigation.
- History of deficit spending in multiple years (e.g., 2022, 2020, 2019, 2018, 2017, 2015) where expenses exceeded revenue.
- Consistent 0% officer compensation, which is unusual for an organization of this size and could indicate a reporting anomaly or a unique operational model.
Strengths
The following positive indicators were identified for Florida Philanthropic Network Inc:
- Strong recent revenue growth, from $1,366,284 in 2021 to $2,480,237 in 2023.
- Significant asset growth, increasing from $1,072,530 in 2021 to $2,731,195 in 2023.
- No reported officer compensation, suggesting a potential focus on minimizing executive overhead or a volunteer-driven leadership.
Frequently Asked Questions about Florida Philanthropic Network Inc
Is Florida Philanthropic Network Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Florida Philanthropic Network Inc (EIN: 201328734) some concerns. Mission Score: 85/100. 3 red flags identified, 3 strengths noted.
How does Florida Philanthropic Network Inc spend its money?
Florida Philanthropic Network Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Florida Philanthropic Network Inc tax-deductible?
Florida Philanthropic Network Inc is registered as a tax-exempt nonprofit (EIN: 201328734). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all available filings (2014-2023) is highly unusual for an organization with significant revenue and assets. This could indicate a volunteer-led executive team, or that executive compensation is categorized differently within the IRS 990, such as under general salaries and wages, rather than specifically as 'officer compensation'.
What is the nature of the significant increase in liabilities?
Liabilities increased from $388,818 in 2021 to $1,630,745 in 2023. Understanding the specific types of liabilities (e.g., program-related payables, debt, grants payable) is crucial to assess the organization's financial risk and long-term solvency.
How does the organization manage periods of deficit spending?
The organization experienced periods where expenses exceeded revenue (e.g., 2022, 2020, 2019, 2018, 2017, 2015). It would be important to understand the strategic reasons behind these deficits and how they were covered, whether through reserves or other funding mechanisms.
Filing History
IRS 990 filing history for Florida Philanthropic Network Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Florida Philanthropic Network Inc's revenue has grown by 400.3%, moving from $496K to $2.5M. Total assets increased by 468% over the same period, from $481K to $2.7M. Total functional expenses rose by 282.4%, from $532K to $2.0M. In its most recent filing year (2023), Florida Philanthropic Network Inc reported a surplus of $444K, with revenue exceeding expenses. The organization holds $1.6M in liabilities against $2.7M in assets (debt-to-asset ratio: 59.7%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.5M | $2.0M | $2.7M | $1.6M | — | View 990 |
| 2022 | $1.6M | $1.7M | $1.9M | $1.2M | — | View 990 |
| 2021 | $1.4M | $747K | $1.1M | $389K | — | View 990 |
| 2020 | $1.2M | $1.3M | $353K | $288K | — | View 990 |
| 2019 | $838K | $982K | $1.1M | $917K | — | View 990 |
| 2018 | $1.1M | $1.3M | $623K | $342K | — | View 990 |
| 2017 | $769K | $1.2M | $927K | $448K | — | View 990 |
| 2016 | $1.8M | $1.1M | $1.2M | $302K | — | View 990 |
| 2015 | $874K | $974K | $643K | $469K | — | View 990 |
| 2014 | $1.0M | $989K | $489K | $214K | — | View 990 |
| 2013 | $665K | $692K | $426K | $173K | — | View 990 |
| 2012 | $644K | $665K | $495K | $215K | — | View 990 |
| 2011 | $496K | $532K | $481K | $179K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.5M, expenses of $2.0M, and assets of $2.7M (revenue +51.1% year-over-year).
- 2022: Revenue of $1.6M, expenses of $1.7M, and assets of $1.9M (revenue +20.1% year-over-year).
- 2021: Revenue of $1.4M, expenses of $747K, and assets of $1.1M (revenue +15.9% year-over-year).
- 2020: Revenue of $1.2M, expenses of $1.3M, and assets of $353K (revenue +40.7% year-over-year).
- 2019: Revenue of $838K, expenses of $982K, and assets of $1.1M (revenue -20.7% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.3M, and assets of $623K (revenue +37.5% year-over-year).
- 2017: Revenue of $769K, expenses of $1.2M, and assets of $927K (revenue -58.0% year-over-year).
- 2016: Revenue of $1.8M, expenses of $1.1M, and assets of $1.2M (revenue +109.3% year-over-year).
- 2015: Revenue of $874K, expenses of $974K, and assets of $643K (revenue -13.5% year-over-year).
- 2014: Revenue of $1.0M, expenses of $989K, and assets of $489K (revenue +52.1% year-over-year).
- 2013: Revenue of $665K, expenses of $692K, and assets of $426K (revenue +3.2% year-over-year).
- 2012: Revenue of $644K, expenses of $665K, and assets of $495K (revenue +29.9% year-over-year).
- 2011: Revenue of $496K, expenses of $532K, and assets of $481K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Florida Philanthropic Network Inc:
Data Sources and Methodology
This transparency report for Florida Philanthropic Network Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.