Visit Carmel

Nonprofit profile at a glance

EIN
810818541
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Carmel, CA, USA
Phone
8316240101
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Business and Industry

Reported finances

Revenue
$2,294,892
Expenses
$2,528,211
Assets
$967,680
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • CARRIE THEIS (CEO)

Highest reported compensation

  • Amy Herzog (Executive Dir.): $210,420 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 the common interest of, and improve business conditions for, carmel hospitality businesses through the operation of a hospitality improvement district (hid), restaurant improvement district (rid), and other programs and initiatives.

What it reported doing in 2024

Focus of programs is to prom0te carmel-by-the-sea as a world-renowned destination, and provide specific benefits directly to the assessed carmel hotels and restaurants by increasing revenue from overnight stays, and gross food/beverage sales. These programs were executed by using an integrated approach to destination marketing consisting of paid media (digital, print, tv), earned and owned media, printed materials, and events, among other tactics.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 71
  • Accountability: 70
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.6%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -10.2%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.38; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 21.4% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 19.1% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 24% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.5M in reported program spending
  • Leadership: top reported pay $210K · 10 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.