Fort Worth Tourism Public Improvement District Corporation

Nonprofit profile at a glance

EIN
823454789
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Fort Worth, TX, USA
Phone
8176987839
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$7,253,921
Expenses
$7,052,106
Assets
$7,806,215
Liabilities
$450,240

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

Leadership & pay

12 people listed

Highest reported compensation

  • ROBERT JAMESON (MANAGING DIRECTOR): $445,371 total reported compensation
  • KURT FOURNIER (CFO): $288,782 total reported compensation

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

Overview

Mission

Increasing the economic impact and enhancing competitiveness in conventions, meetings, leisure and sports tourism, and increasing toursm-related economic activity.

What it reported doing in 2024

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.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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: 62
  • Accountability: 79
  • Sustainability: 44
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 3rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 95.1%; rating input score 95; 30th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.8%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 1.11; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 10.4%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 15.1% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 16.1% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $445K · 12 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.6M reported
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 17 filed money-flow records
  • Related organizations: 14 filed related-organization links
  • 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: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.