Civic Intelligence

Discover Torrance

990 • Fiscal year 2021 • EIN 32-0305113

Jan 01, 2021 to Dec 31, 2021 • Filed on Feb 01, 2022

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.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

12th percentile

0.00x

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

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

3rd percentile

-46%

Higher net margin than 3% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

25th percentile

$0

Higher top officer pay than 25% of similar nonprofits.

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

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Asset Growth

5th percentile

-15%

Faster asset growth than 5% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

49th percentile

8.7%

Faster revenue growth than 49% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets12th percentile

Assets

Down

$1,568,195

Down $268,781 (-15%) from 2020

Net Assets

Down

$1,567,631

Down $269,345 (-15%) from 2020

Liabilities

Up

$564

Up $564 from 2020

Revenue And Expenses
Liabilities / Revenue12th percentileNet Margin3rd percentile

Revenue

Up

$591,325

Up $47,575 (+8.7%) from 2020

Expenses

Up

$860,670

Up $358,093 (+71%) from 2020

Net Income

Down

-$269,345

Down $310,518 (-754%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth5th 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

2021

Assets$1,568,195
Liabilities$564
Net Assets$1,567,631
Open 2021 Filing

Operations Trend

Revenue Growth49th 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

2021

Revenue$591,325
Expenses$860,670
Net Income-$269,345
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Feb 1, 2022
Return Version
2021v4.1
Gross Receipts
$591,325
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$1,836,976$1,530,262▼ $306,714
Pledges and Grants Receivable-$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$1,836,976$1,568,195▼ $268,781
Other Assets Total-$0-
Liabilities
Other Liabilities-$564-
Total Liabilities$0$564▲ $564
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,836,976$1,567,631▼ $269,345
Total Net Assets Fund Balance$1,836,976$1,567,631▼ $269,345
Total Liabilities and Net Assets / Fund Balance$1,836,976$1,568,195▼ $268,781

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$5,499$5,499
Equipment-$4,097$4,097
Compensation and Service Providers
Top Officer Pay25th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$37,933
Program Service Revenue
$553,392
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-269,345
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$758,792
Salaries, Compensation, and Employee Benefits$101,878
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$94,159--$94,159
All Other Expenses$42,238$5,341-$47,579
Fees for Services Accounting$13,432--$13,432
Other Expenses$13,252$7,798-$13,252
Office Expenses$11,820--$11,820
Payroll Taxes$7,719--$7,719
Fees for Services Other-$4,066-$4,066
Insurance$3,545--$3,545
Travel$701--$701
Total Functional Expenses$843,465$17,205$0$860,670
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sales Tax Payable$564
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
21540 Hawthorne Blvd 463, Torrance, CA 90503

Signing Officer

Name
Linda Amato
Title
Chairman
Signed
2022-02-01
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
6

Preparer

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

Additional Explanations

Amended Explanation

“The entity is amending the tax return for erc requested and received after filing of the tax return. The amount of the erc was $37,933.”

Employee Retention Credit

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

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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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
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IRS990/NetAssetsOrFundBalancesEOYAmt01567631
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01836976
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IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt011820
IRS990/OfficeExpensesGrp/TotalAmt011820
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0MARKETING
IRS990/OtherExpensesGrp/Desc1RENT
IRS990/OtherExpensesGrp/Desc2TRADE SHOWS
IRS990/OtherExpensesGrp/Desc3CONTRACTORS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt07798
IRS990/OtherExpensesGrp/ProgramServicesAmt0603108
IRS990/OtherExpensesGrp/ProgramServicesAmt131193
IRS990/OtherExpensesGrp/ProgramServicesAmt222298
IRS990/OtherExpensesGrp/ProgramServicesAmt313252
IRS990/OtherExpensesGrp/TotalAmt0603108
IRS990/OtherExpensesGrp/TotalAmt138991
IRS990/OtherExpensesGrp/TotalAmt222298
IRS990/OtherExpensesGrp/TotalAmt313252
IRS990/OtherLiabilitiesGrp/EOYAmt0564
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt094159
IRS990/OtherSalariesAndWagesGrp/TotalAmt094159
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt07719
IRS990/PayrollTaxesGrp/TotalAmt07719
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt037933
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Linda Amato
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Assessment Fees
IRS990/ProgramServiceRevenueGrp/Desc1Membership Dues & Assessm
IRS990/ProgramServiceRevenueGrp/Desc2Souvenirs
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt145000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt25373
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt145000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt25373
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IRS990/PYOtherExpensesAmt0487088
IRS990/PYProgramServiceRevenueAmt0543750
IRS990/PYRevenuesLessExpensesAmt041173
IRS990/PYSalariesCompEmpBnftPaidAmt015489
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IRS990/PYTotalRevenueAmt0543750
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
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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/OnlyInHouseLobbyingInd0true
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04097
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05499
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0564
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Sales Tax Payable
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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 IS AMENDING THE TAX RETURN FOR ERC REQUESTED AND RECEIVED AFTER FILING OF THE TAX RETURN. THE AMOUNT OF THE ERC WAS $37,933.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The entity has included the ERC of $37,932.94 in Part VIII Line 1e Government Grants
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Amended Explanation
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Employee Retention Credit
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt01568195
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017205
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0843465
IRS990/TotalFunctionalExpensesGrp/TotalAmt0860670
IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0591325
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IRS990/TravelGrp/ProgramServicesAmt0701
IRS990/TravelGrp/TotalAmt0701
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt021540 Hawthorne Blvd 463

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,568,195
Liabilities
$564
Net assets
$1,567,631
Revenue
$591,325
Expenses
$860,670
Net income
-$269,345
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