Marina Del Rey Convention & Visitors Bureau Inc

Nonprofit profile at a glance

EIN
954841658
IRS 990 coverage
2010–2022
Forms available
Form 990 2022
Location
Marina Del Rey, CA, USA
Phone
3103069900
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$617,029
Expenses
$1,547,906
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • JANET ZALDUA (CEO)
  • KIM HART (President)
  • MARK MURPHY (Vice President)

Highest reported compensation

  • JANET ZALDUA (CEO): $42,290 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization is the city of marina del rey's official promotion and tourismbureau. It is organized to promote the common good and social welfare of the peopleof marina del rey through improvement of tourism and trade in the city of marina delrey and the preservation and improvement of economic conditions for all people inmarina del rey, thereby lessening the burdens on city government. The organization'smission is to increase visitor expenditures and tourism revenues through promotion of the area as a travel destination.

What it reported doing in 2022

Local marketing - board development, community awareness efforts, local meetings, chamber mixers and lunches, and local community memberships, hosting, partnership, sponsoring of local events; board expenses, board gifts, local street fairs/chamberfest costs and giveaways for those events.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 62% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 93
  • Accountability: 42
  • Sustainability: 7
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.7%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -150.9%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 2.7%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 6.3% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 9.3% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.7% of spending went to programs
  • Governance: 0 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $42K · 11 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 13 filing years from 2010 to 2022
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 59/100.