The Corporation for Travel

“The 990 information is compiled by the corporation's finance department which works closely with the independent accounting firm kpmg in preparing the return. The return is then provided to members of the board of directors to review prior to its filing.”

“Conflict of interest policy the corporation for travel promotion has a written conflict of interest policy. Management monitors and enforces compliance by way of review by internal counsel, the collection of annual certificates and through a conflict of interest committee with power delegated to it by the board of directors. The conflict of interest committee is comprised of disinterested directors ensuring that no director with a potential interest in the transaction has a vote.”

“The corporation's board of directors formed an executive search committee (the "committee") comprised of four directors with delegated authority to conduct a search for an executive search firm, recommend a selection, and conduct interviews with, negotiate compensation, and make a recommendation to the full board to hire an executive to serve as ceo. The board hired executive search firm, heidrick & struggles, to conduct the ceo search. The committee was responsible for working with heidrick & struggles to establish a job description, criteria for evaluation, review and screen applications, and ultimately interview potential candidates. All members of the committee were independent with respect to the candidates for the position and the executive director (ceo) ultimately selected. After interviewing a number of candidates, the committee recommended two finalists for an interview with the full board of directors in washington, dc. The committee worked with heidrick & struggles and relied on a compensation study (for all levels of employees within brand usa) to review compensation and negotiate an employment contract with the selected candidate. The compensation study used a combination of the following factors: a) benchmarks of other public-private partnerships, b) greater metro washington dc salary bands for ceo's, and c) other non-profit organizations of similar size and scope of services. The committee worked with outside counsel, squire patton boggs, to negotiate the employment agreement. After agreeing on terms with the chosen candidate, the committee presented relevant contract terms to the full board, which ratified acceptance by unanimous written consent. The board of directors meets three times per year to review the ceo's performance and approves variable compensation, per the terms of the employment agreement and any changes to base compensation, on an annual basis. Such approvals of variable compensation or changes to base compensation are recorded in board minutes. All ctp employee's compensation is determined by a compensation study. The compensation review process was last done fall 2023.”

“The organization makes its governing documents available to the public on its website. The conflict of interest policy and financial statements are available upon request.”

“Promotion of the u.s. As a premier travel destination & communicating u.s. Entry/exit policies & procedures.”

“The mission of brand usa is to encourage increased international visitation to, through, and beyond the gateways. In doing so, we aim to bring international visitors to the united states so that the economic and diplomatic benefits of international visitation are felt throughout the country.”

“Consumer marketing campaigns promoting increased international travel to the united states in furtherance of ctp's legislatively mandated mission. The campaigns are comprised of tv, out-of-home, digital, print, and social components in 14 countries and are active year round.”

“Ctp cooperative marketing introduces potential international visitors to the destinations and attractions that comprise the tourism opportunities within the united states. These efforts are furthered through content creation (written, photo, and video) and corresponding digital and print distribution, and general media buying. All of these efforts are directed towards potential international visitors in furtherance of ctp's legislatively mandated mission.”

“Ctp's trade (business-to-business) activity is comprised of exhibiting at or hosting trade shows around the world, training and educating foreign travel professionals on the breadth and depth of u.s. Travel opportunities, and designing and distributing potential u.s. Travel itineraries to and through travel sellers around the world. Ctp maintains travel trade presence in key source markets to keep the usa top of mind via a steady schedule of training programs, educational webinars, newsletters, and virtual events that engage travel agents and tour operators.”

“Change in estimate -1,286,172.”