Nassau-Paradise Island Promotion Board Ltd
- Assets
- $7.8m
- Revenue
- $14.8m
- Investments
- $0.0
- Employees
- 8
- Location
- Plantation, FL
- Founding
- 02/2010
- Data as of
- 12/2021
- EIN
- 59-1707145
Organization Overview
Nassau-Paradise Island Promotion Board Ltd is located in Plantation, FL. The organization was established in 2010. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Nassau-Paradise Island Promotion Board Ltd employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nassau-Paradise Island Promotion Board Ltd is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Nassau-Paradise Island Promotion Board Ltd generated $14.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $15.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MARKETING AND PROMOTION OF NASSAU AND PARADISE ISLAND, BAHAMAS, & THE BOARD'S 13 MEMBER HOTELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GOAL OF THIS ORGANIZATION IS TO INCREASE OCCUPANCY AND AVERAGE DAILY RATE OF ITS MEMBER HOTELS. DURING THIS TOUGH ECONOMIC ENVIRONMENT THE ORGANIZATION SUCCESSFULLY PROMOTED THE NASSAU AND PARADISE ISLANDS WHILE TOURISM REMAINED LARGELY FLAT IN THE CARIBBEAN.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frederick Lounsberry Chief Executive Officer | Officer | 45 | $349,741 |
Glenn A Haddad Executive Director Of Pitd | 40 | $189,263 | |
Michael C Reckley Secretary To The Board | OfficerTrustee | 1 | $0 |
William F Naughton Honorary Treasurer | OfficerTrustee | 1 | $0 |
Graeme Davis Vice Chairman | OfficerTrustee | 1 | $0 |
John Conway Chairman | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $14,623,487 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $208,282 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,831,769 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,831,769 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $349,741 |
| Compensation of current officers, directors, key employees. | $87,435 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $691,555 |
| Pension plan accruals and contributions | $82,573 |
| Other employee benefits | $246,656 |
| Payroll taxes | $46,399 |
| Fees for services: Management | $7,325 |
| Fees for services: Legal | $3,944 |
| Fees for services: Accounting | $21,983 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $12,553,644 |
| Office expenses | $34,900 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $373,585 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,884 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,123 |
| Insurance | $23,073 |
| All other expenses | $0 |
| Total functional expenses | $14,965,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,219,418 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,242,848 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $229,074 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $144,759 |
| Net Land, buildings, and equipment | $12,798 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,848,897 |
| Accounts payable and accrued expenses | $8,193,535 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,193,535 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$344,638 |
| Total liabilities and net assets/fund balances | $7,848,897 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Florida Association Of Realtors Orlando, FL | $96,568,925 | $47,578,542 |
Southern Motor Carriers Association Inc Peachtree City, GA | $87,365,051 | $35,375,343 |
American Welding Society Inc Miami, FL | $147,619,451 | $41,705,708 |
American Society Of Heating Refrigerating & A-C Engineers Peachtree Corners, GA | $58,779,760 | $22,960,689 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Icamr Inc Neocity, FL | $16,807,579 | $18,482,877 |
Nassau-Paradise Island Promotion Board Ltd Plantation, FL | $7,848,897 | $14,831,769 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |
Osceola Convention And Visitors Bureau Inc Kissimmee, FL | $12,721,814 | $18,220,107 |
Panama City Beach Convention And Vistors Bureau Inc Panama City Beach, FL | $6,910,172 | $13,906,597 |
Florida Reliability Coordinating Council Tampa, FL | $10,138,227 | $13,874,923 |
Midtown Business Association Inc Atlanta, GA | $4,952,556 | $10,845,776 |