Florida Tourism Industry Marketing Corp Inc

Nonprofit profile at a glance

EIN
593359293
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Tallahassee, FL, USA
Phone
8504885607
Rating confidence
Limited

Reported finances

Revenue
$106,016,623
Expenses
$105,682,074
Assets
$54,016,595
Liabilities
$37,563,540

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

41 people listed

Executive titles in this filing

  • DANA YOUNG (PRESIDENT AND CEO)
  • MEREDITH DASILVA (VICE PRESIDENT OF OPERATIONS AND ADMINISTRATION)

Highest reported compensation

  • DANA YOUNG (PRESIDENT AND CEO): $266,568 total reported compensation
  • MEREDITH DASILVA (VICE PRESIDENT OF OPERATIONS AND ADMINISTRATION): $212,364 total reported compensation
  • CRAIG A THOMAS (COO/GENERAL COUNSEL): $206,147 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote visitation to Florida by strengthening Florida's share of the global travel market with the goal of maximizing the economic impact of travel and tourism to Florida.

What it reported doing in 2024

Advertising - visit Florida conducts multi-channel marketing initiatives to reach potential visitors and drive visitation from travelers all across the united states and internationally. These initiatives are mainly integrated marketing campaigns that consist of advertising, public relations, content development and distribution, sponsorship, digital marketing and social media.advertising impact: the tourism industry was responsible for welcoming 143 million visitors in fy 2024-25, which makes the industry one of the leading tax revenue and jobs producers in Florida. Based on the latest economic impact study, Florida visitors contributed $133.6 bllion to Florida's economy in 2024, generating $15.8 billion in state and local taxes and supporting 1.8 million Florida jobs. Visitors contribute an average of $350 million per day to Florida's economy. Every 80 visitors to the state support one tourism job. Visit Florida has significantly contributed to the continued increase in visitor spending, tax revenue, and job creation. For every $1 the state invests in visit Florida, $3.27 in tax revenue is returned. In fiscal year 2024-25, 59.0 percent of visitors were significantly influenced by visit Florida marketing efforts.

Operating model

Revenue model
Grant-funded. 81% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 51
  • Accountability: 95
  • Sustainability: 31
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.3%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.51; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.7; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 1.7%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.5% per year; rating input score 100; 7th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 32 of 32 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $267K · 41 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $5M reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 6 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.