Visit Newport Beach Inc
- Assets
- $9.9m
- Revenue
- $11.4m
- Investments
- $0.0
- Employees
- 8
- Location
- Newport Beach, CA
- Founding
- 02/1984
- Data as of
- 06/2023
- EIN
- 51-0225353
Organization Overview
Visit Newport Beach Inc is located in Newport Beach, CA. The organization was established in 1984. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Visit Newport Beach Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Visit Newport Beach 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 06/2023, Visit Newport Beach Inc generated $11.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $10.9m during the year ending 06/2023. While expenses have increased by 3.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
VISIT NEWPORT BEACH INC. IS A NONPROFIT 501(C)(6) MARKETING ORGANIZATION UNDER CONTRACT WITH THE CITY OF NEWPORT BEACH TO MARKET AND PROMOTE THE NEWPORT BEACH BRAND AND TO PROMOTE TOURISM IN, AND SERVE THE NEEDS OF, VISITORS TO NEWPORT BEACH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION RECEIVES A TRANSIT OCCUPANCY TAX (TOT) FROM THE CITY OF NEWPORT BEACH, AND IS RESPONSIBLE TO DEVELOP, PLAN, CARRY OUT AND SUPERVISE A PROGRAM TO MARKET AND PROMOTE THE NEWPORT BEACH BRAND AND TO PROMOTE TOURISM IN, AND SERVE THE NEEDS OF, VISITORS TO THE CITY OF NEWPORT BEACH, AS WELL AS INCREASE THE AMOUNT OF TOT COLLECTED THROUGH ITS PROMOTIONAL ACTIVITIES.
THE ORGANIZATION ADMINISTERS THE CITY OF NEWPORT BEACH TOURISM BUSINESS IMPROVEMENT DISTRICT (TBID), WHICH WAS ESTABLISHED ON APRIL 28, 2009. TBID IS FUNDED BY CERTAIN LODGING BUSINESSES THROUGH AN ASSESSMENT ON SHORT-TERM ROOM RENTAL REVENUE. THE ORGANIZATION PROVIDES MARKETING AND DIRECT SALES PROGRAMS TO INCREASE OVERNIGHT TOURISM, AND MARKET THE ASSESSED BUSINESSES AS TOURIST, MEETING AND EVENT DESTINATIONS, THEREBY INCREASING ROOM NIGHT SALES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Beek Director | Trustee | 1 | $0 |
Tanya Thomas Director | Trustee | 1 | $0 |
Steve Rosanky Director | Trustee | 1 | $0 |
Sharon Wood Director | Trustee | 1 | $0 |
Rush Hill Director | Trustee | 1 | $0 |
Phil Ravenna 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 | $11,240,912 |
| Investment income | $125,907 |
| 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 | $11,410,819 |
| 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. | $308,399 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $949,986 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $267,216 |
| Payroll taxes | $93,089 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $47,909 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,742,659 |
| Office expenses | $11,395 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $194,105 |
| Travel | $31,844 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,316 |
| Insurance | $7,129 |
| All other expenses | $221 |
| Total functional expenses | $10,932,717 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,601,955 |
| Savings and temporary cash investments | $5,313,443 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $48,279 |
| 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 | $601,564 |
| Net Land, buildings, and equipment | $143,258 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,229,083 |
| Total assets | $9,937,582 |
| Accounts payable and accrued expenses | $420,975 |
| 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 | $1,348,834 |
| Total liabilities | $1,769,809 |
| Net assets without donor restrictions | $8,167,773 |
| 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 | $9,937,582 |