Visit Newport Beach Inc
Nonprofit profile at a glance
- EIN
- 510225353
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Newport Beach, CA, USA
- Phone
- 9497196100
- Rating confidence
- Limited
Reported finances
- Revenue
- $7,785,028
- Expenses
- $6,578,721
- Assets
- $7,139,307
- Liabilities
- $2,239,008
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
30 people listed
Executive titles in this filing
- GARY SHERWIN (PRESIDENT/CEO)
Highest reported compensation
- GARY SHERWIN (PRESIDENT/CEO): $488,096 total reported compensation
- MICHELLE DONAHUE (SENIOR VP OF SALES): $282,323 total reported compensation
- LILY PEARSON (CHIEF FINANCIAL OFFICER): $270,008 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
As the city of newport beach's official destination marketing organization, the mission of visit newport beach, inc. Is to partner with the tourism and hospitality industry by protecting and nurturing the destination brand and to deliver additional spending by leisure and conference visitors, leading to enhanced community economic vitality and quality of life.
What it reported doing in 2024
The organization receives a transient occupancy tax (tot) from the city of newport beach, and is responsible to develop, plan, carry out and supervise a program to market and promote the newport beach brand and to promote tourism in, and serve the needs of, visitors to the city of newport beach, as well as increase the amount of tot collected through its promotional activities.
Operating model
- Revenue model
- Earned-program. 99% 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: 82
- Accountability: 95
- Sustainability: 55
- 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; 63rd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- 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: 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: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 15.5%; rating input score 71; 71st percentile among comparable filings
- Total-asset coverage ratio: 1.09; rating input score 40; 40th percentile among comparable filings
- Liabilities to assets ratio: 0.31; rating input score 33; 33rd percentile among comparable filings
- Officer compensation ratio: 5.1%; rating input score 53; 53rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 2.9% per year; rating input score 100; 26th percentile among comparable filings
- Asset growth: 12.3% per year; rating input score 100; 67th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 23 of 23 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $488K · 30 people listed · 4 of 6 pay-setting controls reported
- Consistency: 13 of 13 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 13 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 3 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
- Review — Sustainability: Officer compensation ratio scored 53/100.