Visit Pensacola Inc

Nonprofit profile at a glance

EIN
463684826
IRS 990 coverage
2013–2023
Forms available
Form 990 2023
Location
Pensacola, FL, USA
Phone
8504347626
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$13,964,492
Expenses
$14,086,600
Assets
$3,662,399
Liabilities
$2,095,105

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • Darien Schaefer (President)

Highest reported compensation

  • Darien Schaefer (President): $167,519 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote the common business interests of Escambia County, Florida's tourism industry, and to unify the private sector, visitor, tourism, meeting and convention interests of the various incorporated and unincorporated areas of Escambia County.

What it reported doing in 2023

Pensacola attracted 2,505,200 visitors in FY2023, a decrease of 0.2% from FY2022. Visitors spent $1,317,318,200 in FY2023, up 0.6% from FY2022. TDT receipts for FY2023 were $21,582,335 which exceeded the Escambia County budget goal of $20,000,000 by just under $1,600,000.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 53
  • Accountability: 90
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.3%; rating input score 97
  • Program expense ratio: 96.5%; rating input score 96
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.9%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.26; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.57; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 9.6% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 13.9% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 97.3% of revenue deployed · 96.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $168K · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2013 to 2023
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.