Civic Intelligence

Discover Torrance

990 • Fiscal year 2022 • EIN 32-0305113

Jan 01, 2022 to Dec 31, 2022 • Filed on Mar 09, 2023

Organization Profilewww.discovertorrance.com
21540 Hawthorne Blvd 463Torrance, CA 90503

(310) 802-7777

Siviq Scores

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

Liabilities / Assets

12th percentile

0.00x

Higher debt load relative to assets than 12% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

12th percentile

0.00x

Higher debt load relative to revenue than 12% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Net Margin

9th percentile

-17%

Higher net margin than 9% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

26th percentile

$0

Higher top officer pay than 26% of similar nonprofits.

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

2022 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2022

Asset Growth

23rd percentile

-8.6%

Faster asset growth than 23% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

77th percentile

30%

Faster revenue growth than 77% of similar nonprofits.

2022 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets12th percentile

Assets

Down

$1,433,785

Down $134,410 (-8.6%) from 2021

Net Assets

Down

$1,433,308

Down $134,323 (-8.6%) from 2021

Liabilities

Down

$477

Down $87 (-15%) from 2021

Revenue And Expenses
Liabilities / Revenue12th percentileNet Margin9th percentile

Revenue

Up

$769,297

Up $177,972 (+30%) from 2021

Expenses

Up

$903,620

Up $42,950 (+5.0%) from 2021

Net Income

Up

-$134,323

Up $135,022 (+50%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth23rd 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

2022

Assets$1,433,785
Liabilities$477
Net Assets$1,433,308
Open 2022 Filing

Operations Trend

Revenue Growth77th 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

2022

Revenue$769,297
Expenses$903,620
Net Income-$134,323
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Mar 9, 2023
Return Version
2022v4.1
Gross Receipts
$769,297
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$1,530,262$1,433,785▼ $96,477
Pledges and Grants Receivable$37,933$0▼ $37,933
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$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$1,568,195$1,433,785▼ $134,410
Other Assets Total-$0-
Liabilities
Other Liabilities$564$477▼ $87
Total Liabilities$564$477▼ $87
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,567,631$1,433,308▼ $134,323
Total Net Assets Fund Balance$1,567,631$1,433,308▼ $134,323
Total Liabilities and Net Assets / Fund Balance$1,568,195$1,433,785▼ $134,410

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$5,499$5,499
Equipment-$4,097$4,097
Compensation and Service Providers
Top Officer Pay26th percentile

Board Members and Trustees

NameTitle
Linda AmatoChairman
Neera ChananiVice Chair
Akira YuharaDirector
An VoDirector
Brittany HernandezDirector
Chris BryantDirector
Danielle SmithDirector
Douglas WuDirector
Grace MianeDirector
Kevin ChenDirector
Sal Al-EzzaniDirector
Shahi ChowdhuryDirector
Zachari MateevDirector
Fran FultonExecutive Director
Donna DuperronEx-Officio
Maria HimebaughSecretary
Mike PatelTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$764,992
Investment Income
$4,305
Other Revenue
$0
Change in Net Assets
$-134,323
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$767,548
Salaries, Compensation, and Employee Benefits$136,072
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$125,760--$125,760
Fees for Services Accounting$24,126--$24,126
All Other Expenses$14,663$3,839-$18,502
Other Expenses$10,832$7,498-$10,832
Payroll Taxes$10,312--$10,312
Fees for Services Lobbying$10,000--$10,000
Office Expenses$7,595--$7,595
Insurance$4,398--$4,398
Fees for Services Legal-$940-$940
Travel$876--$876
Total Functional Expenses$891,343$12,277$0$903,620
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
No
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sales Tax Payable$477
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

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

Form 990, Part VI, Section C, Line 19

“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
21540 Hawthorne Blvd 463, Torrance, CA 90503

Signing Officer

Name
Linda Amato
Title
Chairman
Signed
2023-03-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Linda Amato
Formed
2010
Legal Domicile
CA
Voting Board Members
17
Independent Board Members
17
Employees
8
Volunteers
17

Preparer

Firm
Jensen & Company
Address
3838 West Carson Street Suite 220, Torrance, CA 90503
Preparer
Alexis M Jensen
Phone
4242017640
Supplemental Narrative

Additional Explanations

Employee Retention Credit

“The entity has included the ERC of $37,932.94 in Part VIII Line 1e Government Grants”

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IRS990/LandBldgEquipAccumDeprecAmt09596
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt09596
IRS990/LegalDomicileStateCd0CA
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PROMOTE TRAVEL AND TOURISM IN THE CITY OF TORRANCE AND ENHANCE THE HOTEL AND LODGING INDUSTRY.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt01567631
IRS990/NetAssetsOrFundBalancesEOYAmt01433308
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01567631
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01433308
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt07595
IRS990/OfficeExpensesGrp/TotalAmt07595
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/Desc3RESEARCH & DEVELOPMENT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt07498
IRS990/OtherExpensesGrp/ProgramServicesAmt0598940
IRS990/OtherExpensesGrp/ProgramServicesAmt153851
IRS990/OtherExpensesGrp/ProgramServicesAmt229990
IRS990/OtherExpensesGrp/ProgramServicesAmt310832
IRS990/OtherExpensesGrp/TotalAmt0598940
IRS990/OtherExpensesGrp/TotalAmt153851
IRS990/OtherExpensesGrp/TotalAmt237488
IRS990/OtherExpensesGrp/TotalAmt310832
IRS990/OtherLiabilitiesGrp/BOYAmt0564
IRS990/OtherLiabilitiesGrp/EOYAmt0477
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0125760
IRS990/OtherSalariesAndWagesGrp/TotalAmt0125760
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt010312
IRS990/PayrollTaxesGrp/TotalAmt010312
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt037933
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Linda Amato
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Assessment Fees
IRS990/ProgramServiceRevenueGrp/Desc1Membership Dues
IRS990/ProgramServiceRevenueGrp/Desc2Souvenirs
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0715223
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt145000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt24769
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0715223
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt145000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt24769
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt037933
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0758792
IRS990/PYProgramServiceRevenueAmt0553392
IRS990/PYRevenuesLessExpensesAmt0-269345
IRS990/PYSalariesCompEmpBnftPaidAmt0101878
IRS990/PYTotalExpensesAmt0860670
IRS990/PYTotalRevenueAmt0591325
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-134323
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/Form1120POLFiledInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04097
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04097
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt05499
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05499
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0477
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Sales Tax Payable
IRS990ScheduleD/TotalLiabilityAmt0477
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/ExplanationTxt2The entity has included the ERC of $37,932.94 in Part VIII Line 1e Government Grants
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Employee Retention Credit
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01568195
IRS990/TotalAssetsEOYAmt01433785
IRS990/TotalAssetsGrp/BOYAmt01568195
IRS990/TotalAssetsGrp/EOYAmt01433785
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012277
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0891343
IRS990/TotalFunctionalExpensesGrp/TotalAmt0903620
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0564
IRS990/TotalLiabilitiesEOYAmt0477
IRS990/TotalLiabilitiesGrp/BOYAmt0564
IRS990/TotalLiabilitiesGrp/EOYAmt0477
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01567631
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01433308
IRS990/TotalProgramServiceRevenueAmt0764992
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0769297
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0769297
IRS990/TotalVolunteersCnt017
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01568195
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01433785
IRS990/TravelGrp/ProgramServicesAmt0876
IRS990/TravelGrp/TotalAmt0876

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,433,785
Liabilities
$477
Net assets
$1,433,308
Revenue
$769,297
Expenses
$903,620
Net income
-$134,323
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