Discover Palm Beach County Inc
- Assets
- $9.4m
- Revenue
- $21.4m
- Investments
- $0.0
- Employees
- 57
- Location
- West Palm Beach, FL
- Founding
- 10/1983
- Data as of
- 09/2022
- EIN
- 59-2321112
Organization Overview
Discover Palm Beach County Inc, operating under the name Discover The Palm Beaches, is located in West Palm Beach, FL. The organization was established in 1983. 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 09/2022, Discover The Palm Beaches employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Discover The Palm Beaches 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 09/2022, Discover The Palm Beaches generated $21.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $21.1m during the year ending 09/2022. While expenses have increased by 5.9% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO GROW THE TOURISM ECONOMY IN PALM BEACH COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN ORDER TO PROMOTE TOURISM IN PALM BEACH COUNTY, THE ORGANIZATION MAINTAINS AN EXTENSIVE WEBSITE THAT HIGHLIGHTS THE FOLLOWING ACTIVITIES AND INFORMATION GUIDES:1. VACATION GUIDE FOR HOTELS AND RESORTS FROM LUXURY TO BED AND BREAKFAST.2. ACTIVITIES AVAILABLE BY INTEREST, FOR EXAMPLE: A. CULTURAL, HERITAGE, GOLF, WATER SPORTS, DINING, ETC. B. FAMILY FUN ACTIVITIES.3. LINKS TO VARIOUS TOURIST AND VISITOR ATTRACTIONS AND DESTINATIONS.4. CALENDAR OF EVENTS.5. MAPS AND DIRECTORY ASSISTANCE.OTHER WEBSITE LINKS ARE FOR ACCESSING VISITOR INFORMATION FOR EACH CITY, TOWN AND VILLAGE BY NAME IN PALM BEACH COUNTY, AND ACCESS TO STATEWIDE VISITOR INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Franklin Immediate Past Chair | OfficerTrustee | 2 | $0 |
Rita Craig Chairman | OfficerTrustee | 4 | $0 |
Jason Emmett Vice Chairman | OfficerTrustee | 4 | $0 |
Peter Yesawich Secretary/treasurer | OfficerTrustee | 4 | $0 |
Troy Mclellan Director | Trustee | 4 | $0 |
Ethel Isaacs-Williams Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Basis Globalcentro Inc Marketing | 9/29/22 | $1,240,186 |
Meta Platforms Inc Marketing | 9/29/22 | $1,883,374 |
Miles Partnership Marketing | 9/29/22 | $746,952 |
Outfront Media Marketing | 9/29/22 | $1,036,483 |
Tucan Media Marketing Corp Marketing | 9/29/22 | $585,776 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,900,105 |
| 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 | $20,900,105 |
| Total Program Service Revenue | $526,818 |
| Investment income | $0 |
| 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 | $21,426,923 |
| 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. | $1,127,080 |
| Compensation of current officers, directors, key employees. | $238,987 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,492,730 |
| Pension plan accruals and contributions | $287,390 |
| Other employee benefits | $604,861 |
| Payroll taxes | $327,973 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $66,688 |
| Fees for services: Accounting | $22,142 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $136,769 |
| Advertising and promotion | $0 |
| Office expenses | $156,753 |
| Information technology | $154,345 |
| Royalties | $0 |
| Occupancy | $166,176 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $29,459 |
| All other expenses | $59,411 |
| Total functional expenses | $21,110,905 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500 |
| Savings and temporary cash investments | $3,514,411 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,285,903 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $105,053 |
| Prepaid expenses and deferred charges | $253,645 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $200,335 |
| Total assets | $9,359,847 |
| Accounts payable and accrued expenses | $2,091,818 |
| Grants payable | $0 |
| Deferred revenue | $322,346 |
| 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 | $5,200,335 |
| Total liabilities | $7,614,499 |
| Net assets without donor restrictions | $1,745,348 |
| 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 | $9,359,847 |