Civic Intelligence

Discover Torrance

990 • Fiscal year 2019 • EIN 32-0305113

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 28, 2020

Organization Profilewww.discovertorrance.com
21250 Hawthorne BlvdTorrance, CA 90503

(310) 802-7777

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

10th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

51st percentile

3.9%

Higher net margin than 51% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

38th percentile

2.0%

Faster asset growth than 38% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

22nd percentile

-4.5%

Faster revenue growth than 22% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$1,795,803

Up $34,688 (+2.0%) from 2018

Net Assets

Up

$1,795,803

Up $34,688 (+2.0%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin51st percentile

Revenue

Down

$879,572

Down $40,974 (-4.5%) from 2018

Expenses

Up

$844,884

Up $28,801 (+3.5%) from 2018

Net Income

Down

$34,688

Down $69,775 (-67%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2014: $1,063,557Liabilities 2014: $0Net Assets 2014: $1,063,5572014Assets 2015: $1,162,792Liabilities 2015: $0Net Assets 2015: $1,162,7922015Assets 2016: $1,588,357Liabilities 2016: $0Net Assets 2016: $1,588,3572016Assets 2017: $1,656,652Liabilities 2017: $0Net Assets 2017: $1,656,6522017Assets 2018: $1,761,115Liabilities 2018: $0Net Assets 2018: $1,761,1152018Assets 2019: $1,795,803Liabilities 2019: $0Net Assets 2019: $1,795,8032019Assets 2020: $1,836,976Liabilities 2020: $0Net Assets 2020: $1,836,9762020Assets 2021: $1,568,195Liabilities 2021: $564Net Assets 2021: $1,567,6312021Assets 2022: $1,433,785Liabilities 2022: $477Net Assets 2022: $1,433,3082022Assets 2023: $1,355,283Liabilities 2023: $668Net Assets 2023: $1,354,6152023Assets 2024: $1,135,578Liabilities 2024: $686Net Assets 2024: $1,134,8922024

Highlighted filing

2019

Assets$1,795,803
Liabilities$0
Net Assets$1,795,803
Open 2019 Filing

Operations Trend

Revenue Growth22nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2014: $708,123Expenses 2014: $514,439Net Income 2014: $193,6842014Revenue 2015: $641,394Expenses 2015: $542,159Net Income 2015: $99,2352015Revenue 2016: $1,104,939Expenses 2016: $679,374Net Income 2016: $425,5652016Revenue 2017: $886,213Expenses 2017: $817,918Net Income 2017: $68,2952017Revenue 2018: $920,546Expenses 2018: $816,083Net Income 2018: $104,4632018Revenue 2019: $879,572Expenses 2019: $844,884Net Income 2019: $34,6882019Revenue 2020: $543,750Expenses 2020: $502,577Net Income 2020: $41,1732020Revenue 2021: $591,325Expenses 2021: $860,670Net Income 2021: -$269,3452021Revenue 2022: $769,297Expenses 2022: $903,620Net Income 2022: -$134,3232022Revenue 2023: $921,782Expenses 2023: $1,000,475Net Income 2023: -$78,6932023Revenue 2024: $886,313Expenses 2024: $1,106,036Net Income 2024: -$219,7232024

Highlighted filing

2019

Revenue$879,572
Expenses$844,884
Net Income$34,688
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 28, 2020
Return Version
2019v5.0
Gross Receipts
$879,572
Mission and Program Overview

Mission

To promote travel and tourism in the city of torrance and enhance the hotel and lodging industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,756,115$1,790,803▲ $34,688
Savings and Temporary Cash Investments$5,000$5,000→ $0
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,761,115$1,795,803▲ $34,688
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,761,115$1,795,803▲ $34,688
Total Net Assets Fund Balance$1,761,115$1,795,803▲ $34,688
Total Liabilities and Net Assets / Fund Balance$1,761,115$1,795,803▲ $34,688

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$5,499$5,499
Equipment-$4,097$4,097
Compensation and Service Providers
Top Officer Pay24th percentile

Board Members and Trustees

NameTitle
Linda AmatoChairman
Neera ChananiVice Chair
Akira YuharaDirector
Douglas WuDirector
Farah TambouryDirector
Fran FultonDirector
Frank GodoyDirector
Nicole BoothDirector
Rosalyn HoDirector
Sal Al-EzzaniDirector
Seth NesbettDirector
Victoria McLaughlinDirector
Zachari MateevDirector
Zahra IranmaneshDirector
Donna DuperronEx-Officio
Rhanda RichardsonSecretary
Mike PatelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$879,464
Investment Income
$108
Other Revenue
$0
Change in Net Assets
$34,688
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$826,746
Salaries, Compensation, and Employee Benefits$18,138
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$33,186--$33,186
Other Expenses$21,971$4,822-$21,971
All Other Expenses$19,803$1,019-$20,822
Other Salaries and Wages$17,350--$17,350
Insurance$2,192$548-$2,740
Office Expenses$1,492--$1,492
Payroll Taxes$788--$788
Travel$303--$303
Total Functional Expenses$838,495$6,389$0$844,884
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“A draft copy is provided to the chairperson to distribute and approve prior to filing.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The public is invited to listen on the board meetings”

Filing and Contact Details

Filer

Filer Name
Discover Torrance
EIN
32-0305113
Phone
3108027777
Address
21250 Hawthorne Blvd, Torrance, CA 90503

Signing Officer

Name
Linda Amato
Title
Chairman
Signed
2020-07-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Linda Amato
Formed
2010
Legal Domicile
CA
Voting Board Members
17
Independent Board Members
0
Employees
1

Preparer

Firm
Jensen & Company
Address
3838 West Carson Street Suite 220, Torrance, CA 90503
Preparer
Alexis M Jensen
Phone
4242017640
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IRS990/MissionDesc0TO PROMOTE TRAVEL AND TOURISM IN THE CITY OF TORRANCE AND ENHANCE THE HOTEL AND LODGING INDUSTRY.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt01761115
IRS990/NetAssetsOrFundBalancesEOYAmt01795803
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01761115
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01795803
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt01492
IRS990/OfficeExpensesGrp/TotalAmt01492
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0MARKETING
IRS990/OtherExpensesGrp/Desc1TRADE SHOWS
IRS990/OtherExpensesGrp/Desc2RENT
IRS990/OtherExpensesGrp/Desc3CONTRACTORS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt04822
IRS990/OtherExpensesGrp/ProgramServicesAmt0641329
IRS990/OtherExpensesGrp/ProgramServicesAmt180793
IRS990/OtherExpensesGrp/ProgramServicesAmt219288
IRS990/OtherExpensesGrp/ProgramServicesAmt321971
IRS990/OtherExpensesGrp/TotalAmt0641329
IRS990/OtherExpensesGrp/TotalAmt180793
IRS990/OtherExpensesGrp/TotalAmt224110
IRS990/OtherExpensesGrp/TotalAmt321971
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt017350
IRS990/OtherSalariesAndWagesGrp/TotalAmt017350
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt0788
IRS990/PayrollTaxesGrp/TotalAmt0788
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Linda Amato
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Assessment Fees
IRS990/ProgramServiceRevenueGrp/Desc1Membership Dues & Assessm
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0845014
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt134450
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0845014
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt134450
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0802834
IRS990/PYProgramServiceRevenueAmt0920546
IRS990/PYRevenuesLessExpensesAmt0104463
IRS990/PYSalariesCompEmpBnftPaidAmt013249
IRS990/PYTotalExpensesAmt0816083
IRS990/PYTotalRevenueAmt0920546
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt034688
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt05000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/Form1120POLFiledInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0true
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04097
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04097
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt05499
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05499
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT COPY IS PROVIDED TO THE CHAIRPERSON TO DISTRIBUTE AND APPROVE PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PUBLIC IS INVITED TO LISTEN ON THE BOARD MEETINGS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01761115
IRS990/TotalAssetsEOYAmt01795803
IRS990/TotalAssetsGrp/BOYAmt01761115
IRS990/TotalAssetsGrp/EOYAmt01795803
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06389
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0838495
IRS990/TotalFunctionalExpensesGrp/TotalAmt0844884
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01761115
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01795803
IRS990/TotalProgramServiceRevenueAmt0879464
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0879572
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0879572
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01761115
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01795803
IRS990/TravelGrp/ProgramServicesAmt0303
IRS990/TravelGrp/TotalAmt0303
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt021250 Hawthorne Blvd 500
IRS990/USAddress/CityNm0Torrance
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090503
IRS990/VotingMembersGoverningBodyCnt017
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0www.discovertorrance.com
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Linda Amato
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-28

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,795,803
Liabilities
$0
Net assets
$1,795,803
Revenue
$879,572
Expenses
$844,884
Net income
$34,688
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.13$0.89$1.11$0.22
2023Detailed filing. Detailed filing data is available for this year.$1.36$0.00$1.35$0.92$1.00$0.08
2022Detailed filing. Detailed filing data is available for this year.$1.43$0.00$1.43$0.77$0.90$0.13
2021Detailed filing. Detailed filing data is available for this year.$1.57$0.00$1.57$0.59$0.86$0.27
2020Detailed filing. Detailed filing data is available for this year.$1.84$0.00$1.84$0.54$0.50$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.80$0.00$1.80$0.88$0.84$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.76$0.00$1.76$0.92$0.82$0.10
2017Detailed filing. Detailed filing data is available for this year.$1.66$0.00$1.66$0.89$0.82$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.59$0.00$1.59$1.10$0.68$0.43
2015Detailed filing. Detailed filing data is available for this year.$1.16$0.00$1.16$0.64$0.54$0.10
2014Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$0.71$0.51$0.19