Kent County Tourism Corp
- Assets
- $500.7k
- Revenue
- $610.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Dover, DE
- Founding
- 10/1990
- Data as of
- 06/2022
- EIN
- 52-0017005
Organization Overview
Kent County Tourism Corp is located in Dover, DE. The organization was established in 1990. 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 06/2022, Kent County Tourism Corp employed 4 individuals. This organization is the central organization for a national or regional group of organizations. Kent County Tourism Corp 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 06/2022, Kent County Tourism Corp generated $610.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $585.5k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PROMOTION OF TOURISM FOR KENT COUNTY, DELAWARE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROMOTION OF TOURISM TO KENT COUNTY, DELAWARE TO INCREASE EMPLOYMENT, BUSINESS REVENUES AND TAX BASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pete Bradley President | Officer | 40 | $90,000 |
Mike Marasco Chairman | OfficerTrustee | 2 | $0 |
Suzanne Savery Secretary | OfficerTrustee | 2 | $0 |
Angie Tibbitt Treasurer | OfficerTrustee | 2 | $0 |
Gary Camp Board Member | Trustee | 2 | $0 |
Robin Christiansen Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $617,905 |
| All other contributions, gifts, grants, and similar amounts not included above | $500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $618,405 |
| Total Program Service Revenue | $0 |
| Investment income | -$6,211 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,675 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $609,998 |
| 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. | $90,000 |
| Compensation of current officers, directors, key employees. | $18,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $84,288 |
| Pension plan accruals and contributions | $4,946 |
| Other employee benefits | $10,202 |
| Payroll taxes | $13,609 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,250 |
| Fees for services: Accounting | $20,954 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $185,018 |
| Office expenses | $28,995 |
| Information technology | $22,095 |
| Royalties | $0 |
| Occupancy | $25,200 |
| Travel | $1,259 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,061 |
| Interest | $2,009 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,234 |
| Insurance | $5,626 |
| All other expenses | $3,779 |
| Total functional expenses | $585,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $101,260 |
| Savings and temporary cash investments | $138,595 |
| 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 | $6,463 |
| Net Land, buildings, and equipment | $5,967 |
| Investments—publicly traded securities | $129,245 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $119,151 |
| Total assets | $500,681 |
| 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 | $5,184 |
| Total liabilities | $5,184 |
| Net assets without donor restrictions | $495,497 |
| 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 | $500,681 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
Calvert Impact Capital Inc Bethesda, MD | $679,643,317 | $23,234,500 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Riverfront Development Corporation Of Delaware Wilmington, DE | $140,150,021 | $1,670,893 |
East Baltimore Development Inc Baltimore, MD | $12,751,192 | $30,262,944 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Montgomery County Economic Development Corporation Rockville, MD | $2,827,028 | $7,933,113 |