Civic Intelligence

Visit Huntington Beach

990 • Fiscal year 2021 • EIN 33-0368191

Jul 01, 2020 to Jun 30, 2021 • Filed on Mar 30, 2022

155 5th St No 111Huntington Beach, CA 92648

(714) 969-3492

Siviq Scores

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

Liabilities / Assets

49th percentile

0.14x

Higher debt load relative to assets than 49% of similar nonprofits.

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

Liabilities / Revenue

48th percentile

0.18x

Higher debt load relative to revenue than 48% of similar nonprofits.

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

Net Margin

80th percentile

26%

Higher net margin than 80% of similar nonprofits.

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

Top Officer Pay

87th percentile

$286,658

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 7.7% of source-year revenue.

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

Asset Growth

80th percentile

29%

Faster asset growth than 80% of similar nonprofits.

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

Revenue Growth

12th percentile

-19%

Faster revenue growth than 12% of similar nonprofits.

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

Assets

Up

$4,814,527

Up $1,073,946 (+29%) from 2020

Net Assets

Up

$4,141,365

Up $951,205 (+30%) from 2020

Liabilities

Up

$673,162

Up $122,741 (+22%) from 2020

Revenue

Down

$3,724,387

Down $876,842 (-19%) from 2020

Expenses

Down

$2,773,182

Down $2,028,336 (-42%) from 2020

Net Income

Up

$951,205

Up $1,151,494 (+575%) from 2020

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2012: $1,478,639Liabilities 2012: $167,835Net Assets 2012: $1,310,8042012Assets 2014: $1,256,692Liabilities 2014: $182,465Net Assets 2014: $1,074,2272014Assets 2015: $2,030,496Liabilities 2015: $198,428Net Assets 2015: $1,832,0682015Assets 2016: $2,435,116Liabilities 2016: $343,147Net Assets 2016: $2,091,9692016Assets 2017: $3,031,289Liabilities 2017: $326,959Net Assets 2017: $2,704,3302017Assets 2018: $4,104,336Liabilities 2018: $601,749Net Assets 2018: $3,502,5872018Assets 2020: $3,740,581Liabilities 2020: $550,421Net Assets 2020: $3,190,1602020Assets 2021: $4,814,527Liabilities 2021: $673,162Net Assets 2021: $4,141,3652021Assets 2022: $6,606,069Liabilities 2022: $1,342,273Net Assets 2022: $5,263,7962022Assets 2024: $8,507,713Liabilities 2024: $2,776,952Net Assets 2024: $5,730,7612024

Highlighted filing

2021

Assets$4,814,527
Liabilities$673,162
Net Assets$4,141,365

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2012: $1,868,7072012Revenue 2014: $2,530,836Expenses 2014: $2,512,625Net Income 2014: $18,2112014Revenue 2015: $3,685,076Expenses 2015: $2,927,235Net Income 2015: $757,8412015Revenue 2016: $4,013,755Expenses 2016: $3,753,854Net Income 2016: $259,9012016Revenue 2017: $4,518,080Expenses 2017: $3,958,636Net Income 2017: $559,4442017Revenue 2018: $5,307,909Expenses 2018: $4,509,652Net Income 2018: $798,2572018Revenue 2020: $4,601,229Expenses 2020: $4,801,518Net Income 2020: -$200,2892020Revenue 2021: $3,724,387Expenses 2021: $2,773,182Net Income 2021: $951,2052021Revenue 2022: $6,124,993Expenses 2022: $5,002,562Net Income 2022: $1,122,4312022Revenue 2024: $6,992,473Expenses 2024: $7,223,651Net Income 2024: -$231,1782024

Highlighted filing

2021

Revenue$3,724,387
Expenses$2,773,182
Net Income$951,205
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Mar 30, 2022
Return Version
2020v4.2
Gross Receipts
$3,724,387
Mission and Program Overview

Mission

The mission of visit huntington beach is to market and sell huntington beach's surf city usa brand experience as the preferred quintessential california beach destination leading to increased visitor spending and enhanced quality of life for residents.

To promote the common interests of the visitor - serving businesses in huntington beach, ca.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$951,058$1,778,630▲ $827,572
Savings and Temporary Cash Investments$1,468,035$1,381,466▼ $86,569
Land, Buildings, and Equipment, Net$1,076,064$997,438▼ $78,626
Cash and Non-Interest-Bearing Accounts$104,616$412,593▲ $307,977
Prepaid Expenses and Deferred Charges$40,764$152,967▲ $112,203
Intangible Assets$70,839$62,228▼ $8,611
Total Assets$3,740,581$4,814,527▲ $1,073,946
Other Assets Total$29,205$29,205→ $0
Liabilities
Unsecured Notes Loans Payable$150,000$395,559▲ $245,559
Accounts Payable and Accrued Expenses$400,421$277,603▼ $122,818
Total Liabilities$550,421$673,162▲ $122,741
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,902,847$4,122,296▲ $1,219,449
Net Assets With Donor Restrictions$287,313$19,069▼ $268,244
Total Net Assets Fund Balance$3,190,160$4,141,365▲ $951,205
Total Liabilities and Net Assets / Fund Balance$3,740,581$4,814,527▲ $1,073,946

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$878,770$176,787$1,055,557
Leasehold Improvements$72,154$9,858$82,012
Equipment$46,514$31,196$77,710
Compensation and Service Providers

Board Members and Trustees

NameTitle
Justin SimpsonBoard Chair
Peter RiceImmediate Past Chair
Kelly MillerPresident & CEO
Todd SzilagyiBoard Vice Chair
John EhlenfeldtExecutive Vice President
Brett BarnesBoard Member
Dawn MccormackBoard Member
Dean TorrenceBoard Member
Debbie KilleyBoard Member
Jennifer WilliamsBoard Member
Kiran PatelBoard Member
Marisa UnvertBoard Member
Meg BernardoBoard Member
Mike AliBoard Member
Peter TownendBoard Member
Peter TruxawBoard Member
Sheik SattaurBoard Member
Deven SolankiExecutive Committee Member
Paul MaddisonExecutive Committee Member
Paulette FischerExecutive Committee Member
Janis MantiniSecretary
Nicole ThompsonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
5th & PchRentPO BOX 840628, Los Angeles, CA 90084$309,225
Atkins GroupMarketing Services501 SOLEDAD ST, San Antonio, TX 78205$137,449
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,607,823
Investment Income
$2,767
Other Revenue
$113,797
Change in Net Assets
$951,205

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,724,387
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,724,387
Total Revenue per Form 990
$3,724,387
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,649,965
Salaries, Compensation, and Employee Benefits$1,122,197
Grants and Similar Amounts Paid$1,020
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising---$688,104
Other Salaries and Wages---$537,178
Current Officers, Directors, Trustees, and Key Employees---$466,709
Occupancy---$376,065
Office Expenses---$185,959
Depreciation Depletion---$102,922
Payroll Taxes---$58,234
Fees for Services Accounting---$55,772
Travel---$46,557
Other Employee Benefits---$32,714
Pension Plan Contributions---$27,362
Fees for Services Other---$14,058
Insurance---$11,139
Fees for Services Legal---$10,319
Other Expenses---$9,835
Grants to Domestic Orgs---$1,020
Interest---$641
Total Functional Expenses$0$0$0$2,773,182

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,773,182
Total Expenses per Audited Statements$2,773,182
Total Expenses per Form 990$2,773,182
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
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 A, Line 8B

No committee is created to act on behalf of the governing body.

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

Review of organization's mission and significant activities and whether there were any changes from previous filings. Voting number of bod governing body listed on form as requested. If any grants are received, they are listed as well as any unrelated income (if applicable) that would be considered taxable. Total assets and liabilities are also listed and updated. The review is done by president & ceo, vp, and outside bookkeeper.

Form 990, Part VI, Section B, Line 12C

The bureau's board members, including its president/ceo, are required to file a form 700-statement of economic interests with the city of huntington beach on an annual basis. Conflicts of interest our employees are expected to devote their best efforts and attention to the full-time performance of their jobs. A conflict of interest exists when the employee's loyalties or actions are divided between the bureau's interests and those of another, such as a competitor, supplier, or client. Both the fact and the appearance of a conflict of interest should be avoided. Employees are expected to use good judgment, to adhere to high ethical standards, and to avoid situations that create an actual or potential conflict between the employee's personal interests and the interests of the bureau. Employees unsure as to whether a certain transaction, activity, or relationship constitutes a conflict of interest should discuss it with the president of the bureau who will make the ultimate decision. Employees may engage in or have outside business or personal interest or activities that do not constitute or have the potential of creating a conflict of interest with their employment by the bureau. The bureau requires that these activities or interests do not adversely affect an employee's capacity to perform his/her functions or result in conflicting loyalties. While it is not feasible to describe all possible conflicts of interest that could develop, some of the more common conflicts that employees should avoid include the following: - accepting personal gifts or entertainment from competitors, guests, suppliers, or potential suppliers (see policy "gifts"); - working for a competitor, supplier, or customer; - engaging in self-employment in competition with the bureau; - using proprietary or confidential company information for personal gain or to the bureau's detriment; - having a direct or indirect financial interest in or relationship with a competitor, customer, or supplier, except that ownership of less than 1% of the publicly traded stock of a corporation will not be considered a conflict; - using company property or labor for personal use; - acquiring any interest in property or assets of any kind for the purpose of selling or leasing it to the bureau; - committing the company to give its financial or other support to any outside activity or organization; or - developing a personal relationship with a subordinate employee of the company or with an employee of a competitor, supplier, or guest that might interfere with the exercise of impartial judgment in decisions affecting the bureau or any employees of the bureau. If an employee or someone with whom an employee has a close relationship (e.g., a family member or close companion) has a financial or employment relationship with a competitor, guest, supplier, or potential supplier, the employee must disclose this fact in writing to the president. Employees should be aware that if they enter into a personal relationship with a subordinate employee or with an employee of a competitor, supplier, or guest, a conflict of interest may exist, which requires full disclosure to the bureau. Failure to adhere to this guideline, including failure to disclose any conflicts or to seek an exception, may result in discipline, up to and including termination of employment.

Form 990, Part VI, Section B, Line 15

The executive committee negotiates and approves the employment contract for the bureau's president/ceo based on comparability data. The initial compensation for the bureau's chief marketing officer is reviewed and approved by the president/ceo based on comparability data. The president/ceo also reviews and approves annual adjustments to compensation.

Form 990, Part VI, Section C, Line 19

The governing documents, policies, and financial statements are available upon request. The monthly financial statements are also available during the board meetings, which are open to the public.

Filing and Contact Details

Filer

Filer Name
Visit Huntington Beach
EIN
33-0368191
Phone
7149693492
Address
155 5TH ST NO 111, HUNTINGTON BEACH, CA 92648

Signing Officer

Name
Kelly Miller
Title
President & CEO
Phone
7149693492
Signed
2022-03-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelly Miller
Formed
1989
Legal Domicile
CA
Voting Board Members
20
Independent Board Members
20
Employees
21
Volunteers
20

Preparer

Firm
Davis Farr Llp
Address
18201 VON KARMAN AVE SUITE 1100, IRVINE, CA 92612
Preparer
Tritia Foster
Phone
9494742020
Supplemental Narrative

Additional Explanations

Form 990 Part XII Line 2C

The audit oversight process hasn't changed since the prior year.

Financial Statement Notes

PART X, LINE 2:

Vhb is organized as a not-for-profit entity under the general nonprofit corporation laws of the state of california. A determination letter confirming exemption from federal income tax under section 501(c)(6) of the internal revenue code has been obtained. Revenues subject to unrelated business income tax (ubit) were insignificant and would not generate a tax liability. In addition, an exemption from california franchise taxes has been obtained. Therefore, no provision has been made for federal income taxes or state franchise taxes in the accompanying financial statements.

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IRS990/Desc0LEISURE: LEISURE DESTINATION MARKETING PROGRAMS DRIVE GROWTH OF TRAVEL CONSUMERS FROM TARGETED MARKETS ACROSS NORTH AMERICA AS WELL AS KEY INTERNATIONAL MARKETS. OUR BEDROCK FOUNDATION FOR MARKETING PROGRAMS IS LAID THROUGH INVESTMENT IN STRATEGIC BRAND RESEARCH AND PLANNING, VISITOR SEGMENTATION AND CONVERSION STUDIES, HOTEL AND VACATION RENTAL OCCUPANCY REPORTS AND ECONOMIC IMPACT STUDIES. THIS IS CRITICAL IN SUPPORTING OUR GOAL OF TARGETING AND CONVERTING VISITORS THAT ALIGN WITH THE SURF CITY USA BRAND AND TRAVEL PRODUCTS IN THE DESTINATION. VHB'S LEISURE MARKETING STRATEGIES, TACTICS AND SPENDING FOCUS ON PAID MEDIA PLANNING AND PLACEMENT IN KEY DOMESTIC AND INTERNATIONAL MARKETS, INCLUDING DIGITAL, PRINT, BROADCAST AND SOCIAL MEDIA ADVERTISING. OUR AD AGENCY WORKS WITH THE TEAM TO DEVELOP AND PERIODICALLY REFRESH THE BRAND CREATIVE PLATFORM, PLAN THE PAID MEDIA PROGRAM, EXECUTE ON PRODUCTION, AND REPORT RESULTS. LEISURE ALSO DEVELOPS VISUAL ASSETS THROUGH VIDEO, BROADCAST SPOT AND STILL PHOTOGRAPHY PRODUCTION, SUPPORTS MARKETING OF SPECIAL EVENTS, COLLATERAL AND BROCHURE CREATIVE DEVELOPMENT AND PRODUCTION, DISPLAYS AND BRANDED ITEMS FOR TRADE SHOWS AND SALES MISSIONS AND FAMILIARIZATION VISITS BY THE MEDIA AND TRAVEL TRADE.
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IRS990/Form990PartVIISectionAGrp/PersonNm13SHEIK SATTAUR
IRS990/Form990PartVIISectionAGrp/PersonNm14KIRAN PATEL
IRS990/Form990PartVIISectionAGrp/PersonNm15DEAN TORRENCE
IRS990/Form990PartVIISectionAGrp/PersonNm16PETER TOWNEND
IRS990/Form990PartVIISectionAGrp/PersonNm17PETER TRUXAW
IRS990/Form990PartVIISectionAGrp/PersonNm18MARISA UNVERT
IRS990/Form990PartVIISectionAGrp/PersonNm19JENNIFER WILLIAMS
IRS990/Form990PartVIISectionAGrp/PersonNm20KELLY MILLER
IRS990/Form990PartVIISectionAGrp/PersonNm21JOHN EHLENFELDT
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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5EXECUTIVE COMMITTEE MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6EXECUTIVE COMMITTEE MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7EXECUTIVE COMMITTEE MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt21EXECUTIVE VICE PRESIDENT
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF VISIT HUNTINGTON BEACH IS TO MARKET AND SELL HUNTINGTON BEACH'S SURF CITY USA BRAND EXPERIENCE AS THE PREFERRED QUINTESSENTIAL CALIFORNIA BEACH DESTINATION LEADING TO INCREASED VISITOR SPENDING AND ENHANCED QUALITY OF LIFE FOR RESIDENTS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/OfficeExpensesGrp/TotalAmt0185959
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt029205
IRS990/OtherAssetsTotalGrp/EOYAmt029205
IRS990/OtherChangesInNetAssetsAmt00
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IRS990/OtherExpensesGrp/Desc0RESEARCH
IRS990/OtherExpensesGrp/Desc1TRADESHOWS
IRS990/OtherExpensesGrp/Desc2REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc3OTHER
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IRS990/OtherExpensesGrp/TotalAmt141526
IRS990/OtherExpensesGrp/TotalAmt222961
IRS990/OtherExpensesGrp/TotalAmt39835
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IRS990/ProgSrvcAccomActy2Grp/Desc0WEBSITE/SOCIAL MEDIA: VISIT HUNTINGTON BEACH'S WEBSITE, SURFCITYUSA.COM, SERVES AS THE DESTINATION'S OFFICIAL ONLINE PRESENCE FOR HUNTINGTON BEACH TOURISM. WITH FISCAL YEAR-TO-DATE TRAFFIC PEAKING AT OVER 245,000 UNIQUE MONTHLY VISITORS, THE WEBSITE IS A KEY GLOBAL MARKETING TOOL FOR PROMOTING HUNTINGTON BEACH AS A PREMIERE LEISURE AND BUSINESS TRAVEL DESTINATION. ALL LEISURE, TRAVEL TRADE AND GROUP SALES CAMPAIGNS THAT DRIVE BRAND AWARENESS, INCREASE OVERNIGHT STAYS, AND STIMULATE THE LOCAL ECONOMY DIRECT TRAFFIC TO THE WEBSITE AS THE CORE/CENTRAL COMMUNICATION HUB. IN THIS CURRENT CYCLE OF 24/7 MEDIA CONSUMPTION, VISIT HUNTINGTON BEACH'S SOCIAL MEDIA CHANNELS COMPLEMENT THE WEBSITE BY ALLOWING THE ORGANIZATION TO POST MORE DYNAMIC CONTENT. OUR PAID SOCIAL MEDIA CAMPAIGNS ALLOW FOR CUSTOMIZED PHOTO AND VIDEO CONTENT THAT CAN BE HIGHLY TARGETED. OUR EVER-GROWING SOCIAL MEDIA COMMUNITY SERVES AS AN EXTENSION OF OUR BRAND AND AMPLIFIES THE DESTINATION'S ONLINE PRESENCE IN AN AUTHENTIC WAY THROUGH THE COMMUNITY'S OWN SOCIAL MEDIA POSTS.
IRS990/ProgSrvcAccomActy3Grp/Desc0GROUP SALES: GROUP SALES FOR VISIT HUNTINGTON BEACH IS DEFINED AS CORPORATE, ASSOCIATION AND INCENTIVE MEETINGS/PROGRAMS THAT ARE CONTRACTED WITH OUR HOTELS WITHIN HUNTINGTON BEACH. VISIT HUNTINGTON BEACH ASSIGNS SALES MANAGERS (20% OF OUR STAFF) TO ATTEND TRADE SHOW CONFERENCES, INITIATE SALES CALL MISSIONS, CONDUCT SITE INSPECTIONS OF OUR HOTELS WITH MEETING PLANNERS AND ATTEND INDUSTRY SPECIFIC EVENTS THAT INCREASE THE EXPOSURE OF HUNTINGTON BEACH AS A MEETINGS DESTINATION. THE EFFORTS OF THE SALES DEPARTMENT INCLUDE TRAVEL TO DOMESTIC AND INTERNATIONAL DESTINATION TO PROMOTE AND SOLICIT MEETINGS/PROGRAMS TO BOOK IN HUNTINGTON BEACH. TRAVEL, TRADESHOWS, ADVERTISING AND MARKETING EFFORTS COMPRISE THIS BUDGET FOR VISIT HUNTINGTON BEACH.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0VHB IS ORGANIZED AS A NOT-FOR-PROFIT ENTITY UNDER THE GENERAL NONPROFIT CORPORATION LAWS OF THE STATE OF CALIFORNIA. A DETERMINATION LETTER CONFIRMING EXEMPTION FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE HAS BEEN OBTAINED. REVENUES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT) WERE INSIGNIFICANT AND WOULD NOT GENERATE A TAX LIABILITY. IN ADDITION, AN EXEMPTION FROM CALIFORNIA FRANCHISE TAXES HAS BEEN OBTAINED. THEREFORE, NO PROVISION HAS BEEN MADE FOR FEDERAL INCOME TAXES OR STATE FRANCHISE TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt021101

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