Salt Institute
- Assets
- $0.0
- Revenue
- $14.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Naples, FL
- Founding
- 03/1959
- Data as of
- 12/2019
- EIN
- 36-2235413
Organization Overview
Salt Institute is located in Naples, FL. The organization was established in 1959. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2019, Salt Institute employed 5 individuals. Salt Institute 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 12/2019, Salt Institute generated $14.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (63.9%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION TERMINATED OPERATIONS IN DECEMBER 2019.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION DECIDED TO TERMINATE IN 2019 AND INCURRED MINIMAL PROGRAM EXPENSES DURING THE YEAR. THE ORGANIZATION CONTRIBUTED REMAINING FUNDS TO CHARITABLE ORGANIZATIONS IN ACCORDANCE TO THE BYLAWS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Roman President | Officer | 40 | $1,287,128 |
Wilfred Nixon Vice President | 40 | $211,961 | |
Dan Ertel Chairman | OfficerTrustee | 1 | $0 |
Christian Hermann Director | Trustee | 1 | $0 |
Anthony Sepich Director | Trustee | 1 | $0 |
Marcelo Montero Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $94,439 |
| Investment income | $2,829 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$82,453 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,815 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $89,173 |
| 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. | $1,333,402 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $449,981 |
| Pension plan accruals and contributions | $69,972 |
| Other employee benefits | $18,778 |
| Payroll taxes | $54,931 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $143,489 |
| Fees for services: Accounting | $22,636 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,000 |
| Advertising and promotion | $0 |
| Office expenses | $7,975 |
| Information technology | $2,889 |
| Royalties | $0 |
| Occupancy | $32,895 |
| Travel | $18,426 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $124,279 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,644 |
| All other expenses | $15,255 |
| Total functional expenses | $2,574,290 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Salt Institute has awarded $21,032 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Logan, UT PURPOSE: DEVELOP A SUSTAINABLE APPROACH TO INVASIVE SPECIES IN THE GREAT SALT LAKE. | $11,032 |
Washington, DC PURPOSE: WINTER ROAD SAFETY MEDIA PROJECT: SNOWFIGHTER APPRECIATION DAY | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Icamr Inc Neocity, FL | $16,807,579 | $18,482,877 |
Nassau-Paradise Island Promotion Board Ltd Plantation, FL | $7,848,897 | $14,831,769 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Osceola Convention And Visitors Bureau Inc Kissimmee, FL | $12,721,814 | $18,220,107 |
Panama City Beach Convention And Vistors Bureau Inc Panama City Beach, FL | $6,910,172 | $13,906,597 |
Florida Reliability Coordinating Council Tampa, FL | $10,138,227 | $13,874,923 |
Midtown Business Association Inc Atlanta, GA | $4,952,556 | $10,845,776 |
Corenet Global Inc Atlanta, GA | $22,405,208 | $10,074,155 |
Visit Pensacola Inc Pensacola, FL | $2,535,965 | $7,930,486 |
Allinial Global Lawrenceville, GA | $3,508,006 | $7,173,344 |
The Florida Restaurant & Lodging Association Inc Tallahassee, FL | $14,927,226 | $6,472,755 |