Civic Intelligence

Discover Torrance

990 • Fiscal year 2020 • EIN 32-0305113

Jan 01, 2020 to Dec 31, 2020 • Filed on Feb 10, 2021

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

10th percentile

0.00x

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

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

10th percentile

0.00x

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

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Net Margin

56th percentile

7.6%

Higher net margin than 56% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

2020 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2020

Asset Growth

40th percentile

2.3%

Faster asset growth than 40% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

11th percentile

-38%

Faster revenue growth than 11% of similar nonprofits.

2020 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$1,836,976

Up $41,173 (+2.3%) from 2019

Net Assets

Up

$1,836,976

Up $41,173 (+2.3%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin56th percentile

Revenue

Down

$543,750

Down $335,822 (-38%) from 2019

Expenses

Down

$502,577

Down $342,307 (-41%) from 2019

Net Income

Up

$41,173

Up $6,485 (+19%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth40th 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

2020

Assets$1,836,976
Liabilities$0
Net Assets$1,836,976
Open 2020 Filing

Operations Trend

Revenue Growth11th 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

2020

Revenue$543,750
Expenses$502,577
Net Income$41,173
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Feb 10, 2021
Return Version
2020v4.0
Gross Receipts
$543,750
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$1,790,803$1,836,976▲ $46,173
Savings and Temporary Cash Investments$5,000$0▼ $5,000
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$1,795,803$1,836,976▲ $41,173
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,795,803$1,836,976▲ $41,173
Total Net Assets Fund Balance$1,795,803$1,836,976▲ $41,173
Total Liabilities and Net Assets / Fund Balance$1,795,803$1,836,976▲ $41,173

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$5,499$5,499
Equipment-$4,097$4,097
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Linda AmatoChairman
Neera ChananiVice Chair
Akira YuharaDirector
An VoDirector
Douglas WuDirector
Farah TambouryDirector
Kevin ChenDirector
Sal Al-EzzaniDirector
Seth NesbettDirector
Shahi ChowdhuryDirector
Victoria McLaughlinDirector
Zachari MateevDirector
Zahra IranmaneshDirector
Fran FultonExecutive Director
Donna DuperronEx-Officio
Rhanda RichardsonSecretary
Mike PatelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$543,750
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$41,173
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$487,088
Salaries, Compensation, and Employee Benefits$15,489
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$17,194$4,284-$17,194
All Other Expenses$14,029$600-$14,629
Other Salaries and Wages$14,249--$14,249
Fees for Services Accounting$8,875--$8,875
Insurance$3,727$932-$4,659
Fees for Services Other$3,550--$3,550
Office Expenses$2,671--$2,671
Payroll Taxes$1,240--$1,240
Travel$340--$340
Total Functional Expenses$496,761$5,816$0$502,577
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
2021-02-10
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.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
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IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
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IRS990/OfficeExpensesGrp/TotalAmt02671
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0MARKETING
IRS990/OtherExpensesGrp/Desc1CONTRACTORS
IRS990/OtherExpensesGrp/Desc2RENT
IRS990/OtherExpensesGrp/Desc3RESEARCH & DEVELOPMENT
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IRS990/OtherExpensesGrp/ProgramServicesAmt0383010
IRS990/OtherExpensesGrp/ProgramServicesAmt130738
IRS990/OtherExpensesGrp/ProgramServicesAmt217138
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt01240
IRS990/PayrollTaxesGrp/TotalAmt01240
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
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt145000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0498750
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt145000
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IRS990/PYProgramServiceRevenueAmt0879464
IRS990/PYRevenuesLessExpensesAmt034688
IRS990/PYSalariesCompEmpBnftPaidAmt018138
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt041173
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt01795803
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0496761
IRS990/TotalFunctionalExpensesGrp/TotalAmt0502577
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01836976
IRS990/TotalProgramServiceRevenueAmt0543750
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0543750
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01795803
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01836976
IRS990/TravelGrp/ProgramServicesAmt0340
IRS990/TravelGrp/TotalAmt0340
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/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,836,976
Liabilities
$0
Net assets
$1,836,976
Revenue
$543,750
Expenses
$502,577
Net income
$41,173
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