Fort Worth Tourism Public Improvement District Corporation
- Assets
- $7.2m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Worth, TX
- Founding
- Data as of
- 09/2023
- EIN
- 82-3454789
Organization Overview
Fort Worth Tourism Public Improvement District Corporation is located in Fort Worth, TX. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Worth Tourism Public Improvement District Corporation 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 09/2023, Fort Worth Tourism Public Improvement District Corporation generated $6.8m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 26.1% each year . All expenses for the organization totaled $5.7m during the year ending 09/2023. While expenses have increased by 32.7% per year over the past 3 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.
Since 2021, Fort Worth Tourism Public Improvement District Corporation has awarded 31 individual grants totaling $837,513. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
INCREASING THE ECONOMIC IMPACT AND ENHANCING COMPETITIVENESS IN CONVENTIONS, MEETINGS, LEISURE AND SPORTS TOURISM, AND INCREASING TOURISM-RELATED ECONOMIC ACTIVITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AT THE REQUEST OF THE COMMUNITY OF LOCAL HOTELIERS, THE CITY OF FORT WORTH HAS CREATED A TOURISM PUBLIC IMPROVEMENT DISTRICT (TPID) TO ENHANCE MARKETING OF FORT WORTH AS A VISITOR AND CONVENTION DESTINATION AND, AS A RESULT, SUPPORT THE LOCAL ECONOMY AND JOBS. APPROXIMATELY 35% OF THE DISTRICT'S RESOURCES ARE DEDICATED TO ATTRACT MEETINGS AND CONVENTIONS THROUGH SALES AND INCENTIVE EFFORTS. APPROXIMATELY 52.5% OF TPID FUNDS ARE USED FOR MARKETING FORT WORTH AS A LEISURE & MEETING DESTINATION, BRINGING ADDITIONAL VISISTORS AND BUILDING OVERALL AWARENESS OF THE CITY AS A TOP CHOICE IN TOURISM. TPID DEDICATES 7.5% OF THE BUDGET FOR GRANTS TO FORT WORTH ARTS ORGANIZATIONS THAT DEMONSTRATE AN ABILITY TO ATTRACT OVERNIGHT VISISTORS AND CONTRIBUTE TO HOTEL ROOM NIGHTS. THE GRANTS ARE ADMINISTERED BY THE FORT WORTH ARTS COUNCIL AND DEMONSTRATE THE SPECIAL CONTRIBUTIONS THESE ORGANIZATIONS MAKE TO OUR LOCAL ECONOMY AND QUALITY OF LIFE. THE REMAINING 5% OF TPID FUNDS ARE DEVOTED TO PERFORMANCE OF SITE VISITS, FAMILARIZATION TOURS, LEGAL, AUDIT AND ADMINISTRATIVE SERVICES. THIS INCLUDES INVESTMENT IN RESEARCH TOOLS THAT ENABLE VISIT FORT WORTH TO EVALUATE AND MEASURE MANY OF THE DISTRICT'S MARKETING EFFORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Jameson Managing Director | Trustee | 1 | $0 |
Lawrence Auth Chair | OfficerTrustee | 1 | $0 |
Drew Hayden Vice-Chair/treasurer | OfficerTrustee | 1 | $0 |
George Barham Secretary | OfficerTrustee | 1 | $0 |
Kristin Assad Director | Trustee | 1 | $0 |
Johnathan Kennedy Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pmg Worldwide Llc Advertising | 9/29/23 | $926,592 |
City Of Fort Worth-fort Worth Convention Meetings & Conventions | 9/29/23 | $414,190 |
Freeman Event Activations | 9/29/23 | $120,594 |
Pcma Advertising | 9/29/23 | $124,950 |
Zartico Inc Research | 9/29/23 | $110,000 |
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 | $6,810,523 |
| 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 | $6,810,523 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $464,013 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $86,539 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $133,458 |
| Advertising and promotion | $3,012,361 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $2,934 |
| All other expenses | $2,032,519 |
| Total functional expenses | $5,731,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,844,079 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,122,970 |
| 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 | $213,789 |
| 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 | $7,180,838 |
| Accounts payable and accrued expenses | $660,010 |
| 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 | $660,010 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $6,520,828 |
| 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 | $7,180,838 |
Grants Awarded
Over the last fiscal year, Fort Worth Tourism Public Improvement District Corporation has awarded $464,013 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
AMON CARTER MUSEUM OF AMERICAN ART PURPOSE: GRANT AWARD | $60,364 |
AMPHIBIAN STAGE PRODUCTIONS PURPOSE: GRANT AWARD | $11,826 |
CASA MANANA PURPOSE: GRANT AWARD | $60,364 |
ARTES DE LA ROSA PURPOSE: GRANT AWARD | $19,864 |
BRIT PURPOSE: GRANT AWARD | $60,364 |
FORT WORTH OPERA PURPOSE: GRANT AWARD | $17,864 |