Civic Intelligence

Long Island Convention and Visitors Bureau Inc

990 • Fiscal year 2018 • EIN 52-1137306

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 17, 2019

330 Motor ParkwayHauppauge, NY 11788

(631) 951-3900

Siviq Scores

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

Liabilities / Assets

51st percentile

0.18x

Higher debt load relative to assets than 51% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

38th percentile

0.10x

Higher debt load relative to revenue than 38% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Net Margin

39th percentile

1.3%

Higher net margin than 39% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

66th percentile

$186,329

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 5.3% of source-year revenue.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Asset Growth

69th percentile

8.9%

Faster asset growth than 69% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

34th percentile

-0.8%

Faster revenue growth than 34% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$2,025,249

Up $165,462 (+8.9%) from 2017

Net Assets

Up

$1,668,808

Up $45,633 (+2.8%) from 2017

Liabilities

Up

$356,441

Up $119,829 (+51%) from 2017

Revenue

Down

$3,537,544

Down $27,296 (-0.8%) from 2017

Expenses

Up

$3,491,911

Up $532,318 (+18%) from 2017

Net Income

Down

$45,633

Down $559,614 (-92%) from 2017

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $1,137,093Liabilities 2010: $384,350Net Assets 2010: $752,7432010Assets 2011: $1,126,747Liabilities 2011: $352,479Net Assets 2011: $774,2682011Assets 2012: $1,187,206Liabilities 2012: $369,168Net Assets 2012: $818,0382012Assets 2013: $974,691Liabilities 2013: $289,049Net Assets 2013: $685,6422013Assets 2014: $840,970Liabilities 2014: $232,873Net Assets 2014: $608,0972014Assets 2015: $963,275Liabilities 2015: $185,444Net Assets 2015: $777,8312015Assets 2016: $1,266,832Liabilities 2016: $248,904Net Assets 2016: $1,017,9282016Assets 2017: $1,859,787Liabilities 2017: $236,612Net Assets 2017: $1,623,1752017Assets 2018: $2,025,249Liabilities 2018: $356,441Net Assets 2018: $1,668,8082018Assets 2019: $2,482,615Liabilities 2019: $367,274Net Assets 2019: $2,115,3412019Assets 2020: $2,999,177Liabilities 2020: $99,832Net Assets 2020: $2,899,3452020Assets 2021: $4,450,484Liabilities 2021: $682,471Net Assets 2021: $3,768,0132021Assets 2022: $4,587,914Liabilities 2022: $626,347Net Assets 2022: $3,961,5672022Assets 2023: $6,093,845Liabilities 2023: $1,375,520Net Assets 2023: $4,718,3252023Assets 2024: $6,713,536Liabilities 2024: $1,361,806Net Assets 2024: $5,351,7302024

Highlighted filing

2018

Assets$2,025,249
Liabilities$356,441
Net Assets$1,668,808

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $2,498,501Expenses 2010: $2,336,545Net Income 2010: $161,9562010Revenue 2011: $2,757,327Expenses 2011: $0Net Income 2011: $2,757,3272011Revenue 2012: $3,039,822Expenses 2012: $2,996,052Net Income 2012: $43,7702012Revenue 2013: $3,101,928Expenses 2013: $3,234,324Net Income 2013: -$132,3962013Revenue 2014: $3,053,135Expenses 2014: $3,130,680Net Income 2014: -$77,5452014Revenue 2015: $3,227,071Expenses 2015: $3,057,337Net Income 2015: $169,7342015Revenue 2016: $3,258,670Expenses 2016: $3,018,573Net Income 2016: $240,0972016Revenue 2017: $3,564,840Expenses 2017: $2,959,593Net Income 2017: $605,2472017Revenue 2018: $3,537,544Expenses 2018: $3,491,911Net Income 2018: $45,6332018Revenue 2019: $3,739,549Expenses 2019: $3,293,016Net Income 2019: $446,5332019Revenue 2020: $2,999,590Expenses 2020: $2,215,586Net Income 2020: $784,0042020Revenue 2021: $4,266,215Expenses 2021: $3,397,547Net Income 2021: $868,6682021Revenue 2022: $3,530,042Expenses 2022: $3,336,488Net Income 2022: $193,5542022Revenue 2023: $4,793,363Expenses 2023: $4,036,605Net Income 2023: $756,7582023Revenue 2024: $6,129,860Expenses 2024: $5,496,455Net Income 2024: $633,4052024

Highlighted filing

2018

Revenue$3,537,544
Expenses$3,491,911
Net Income$45,633
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 17, 2019
Return Version
2018v3.1
Gross Receipts
$3,537,544
Mission and Program Overview

Mission

Based on Long Island in Hauppauge, NY, Discover Long Island, Inc., contributes to the economic development and quality of life on long island by promoting the region as a world-class destination for tourism, meetings and conventions, trade shows, sporting events, and related activities.

Discover Long Island, formerly known as Long Island Convention & Visitors Bureau and Sports Commission (LICVB & SC) was established in 1979 as the official tourism promotion agency for the destination's travel and tourism industry. Based on Long Island in Hauppauge, NY, Discover Long Island contributes to the economic development and quality of life on long island by promoting the region as a world-class destination for tourism, meetings and conventions, trade shows, sporting events, and related activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$923,438$965,161▲ $41,723
Accounts Receivable$775,186$804,336▲ $29,150
Prepaid Expenses and Deferred Charges$138,531$157,196▲ $18,665
Land, Buildings, and Equipment, Net$18,215$94,139▲ $75,924
Cash and Non-Interest-Bearing Accounts-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,859,787$2,025,249▲ $165,462
Other Assets Total$4,417$4,417→ $0
Liabilities
Accounts Payable and Accrued Expenses$222,297$339,817▲ $117,520
Deferred Revenue$14,315$16,624▲ $2,309
Total Liabilities$236,612$356,441▲ $119,829
Net Assets / Fund Balance
Unrestricted Net Assets$1,623,175$1,668,808▲ $45,633
Total Net Assets Fund Balance$1,623,175$1,668,808▲ $45,633
Total Liabilities and Net Assets / Fund Balance$1,859,787$2,025,249▲ $165,462

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$94,139$262,400$356,539
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kristen JarnaginPresident & CEOFT$158,400$27,929$186,329

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Summerland CreativeAdvertising74-710 Highway 111 Ste 102, Palm Desert, CA 92260$120,200
Revenue and Support

Revenue Composition

Contributions and Grants
$274,272
Program Service Revenue
$3,259,910
Investment Income
$3,362
Other Revenue
$0
All Other Contributions
$108,750
Change in Net Assets
$45,633

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,537,544
Total Revenue per Audited Statements
$3,537,544
Total Revenue per Form 990
$3,537,544
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,193,377
Salaries, Compensation, and Employee Benefits$1,135,201
Total Fundraising Expense$244,433
Grants and Similar Amounts Paid$163,333
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$974,080$55,345$77,484$1,106,909
Other Salaries and Wages$569,220$19,299$58,322$646,841
Payroll Taxes$265,787$15,102$21,142$302,031
All Other Expenses$189,378$20,042$28,056$237,476
Information Technology$173,067$9,833$13,767$196,667
Current Officers, Directors, Trustees, and Key Employees$163,970$22,359-$186,329
Grants to Domestic Orgs$163,333--$163,333
Occupancy$97,895$5,562$7,787$111,244
Travel$57,174$3,249$4,548$64,971
Fees for Services Other$49,587$2,817$3,944$56,348
Other Expenses$48,915$2,779$3,891$55,585
Office Expenses$31,802$1,807$2,530$36,139
Depreciation Depletion$13,504$767$1,074$15,345
Insurance$10,742$610$854$12,206
Interest$1,764$100$140$2,004
Total Functional Expenses$3,072,882$174,596$244,433$3,491,911

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,491,911
Total Expenses per Audited Statements$3,491,911
Total Expenses per Form 990$3,491,911
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Montauk Chamber of Commercemontauk, NY-promotion of long island$58,128
Long Island Wine Councilriverhead, NY-promotion of long island$20,000
N Shore Promotion AllianceStony brook, NY-promotion of long island$20,000
East End Tourism AllianceRiverhead, NY-promotion of long island$19,763
Hamptons Visitors Councilsouthampton, NY-promotion of long island$18,067
Riverhead Chamber of Commerceriverhead, NY-promotion of long island$16,104
North Fork Promotion Councilsouthold, NY-promotion of long island$13,320
East Hampton Chamber of Commeriverhead, NY-promotion of long island$5,831
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
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, Line 11B: Form 990 Review Process

the form 990 is completed by the preparer and submitted to management. the document is reviewed by management and is then distributed to the board for review. Any comments or questions are presented to management which communicates the issue directly to the preparer.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Conflict of interest statements are reviewed and updated on an annual basis.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

ON OR BEFORE november 1, THE EXECUTIVE COMMITTEE ANNUALLY MEETS IN EXECUTIVE SESSION TO REVIEW THE PRESIDENT'S PERFORMANCE IN LINE WITH THE ELEMENTS CONTAINED IN HIS or her CONTRACT AND DETERMINES THE EXECUTIVE'S COMPENSATION FOR THE UPCOMING YEAR. While the executive committee does not determine compensation for the senior management team of the organization, the president does.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

On or before august 15, the executive committee annually meets in executive session to review the president's performance in line with the elements contained in his contract and determines the executive's compensation for the upcoming year. While the executive committee does not determine compensation for the senior management team of the organization, the president informs and consults with the executive committee on anticipated compensation increases for senior managers.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

THE ORGANIZATION'S BY-LAWS, BOARD OF DIRECTORS, ANNUAL MARKETING PLAN AND BUDGET ARE PUBLICLY POSTED ON ITS WEBSITE. all organizational documents ARE MADE AVAILABLE FOR PUBLIC VIEW BY CONTACTING THE ORGANIZATION'S BUSINESS OFFICE.

Filing and Contact Details

Filer

Filer Name
Discover Long Island Inc
EIN
52-1137306
Phone
6319513900
Address
330 MOTOR PARKWAY, HAUPPAUGE, NY 11788

Signing Officer

Name
Kristen Jarnagin
Title
President & CEO
Signed
2019-09-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kristen Jarnagin
Formed
1978
Legal Domicile
Ny
Voting Board Members
27
Independent Board Members
26
Employees
18
Volunteers
28

Preparer

Firm
Nawrocki Smith Llp
Address
290 BROADHOLLOW RD STE 115E, MELVILLE, NY 11747-4822
Preparer
Michael E Nawrocki
Phone
6317569500
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Organization recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Management has determined that the Organization had no uncertain tax positions that would require financial statement recognition. The Organization is no longer subject to examination by the applicable taxing jurisdictions for tax years prior to 2015.

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IRS990/Form990PartVIISectionAGrp/PersonNm0Matthew Cohen
IRS990/Form990PartVIISectionAGrp/PersonNm1J Grady Collin
IRS990/Form990PartVIISectionAGrp/PersonNm2Nancy Costopulos
IRS990/Form990PartVIISectionAGrp/PersonNm3Jeff Durham
IRS990/Form990PartVIISectionAGrp/PersonNm4Alan Fairbairn
IRS990/Form990PartVIISectionAGrp/PersonNm5Nancy Gilbert
IRS990/Form990PartVIISectionAGrp/PersonNm6George Gorman JR
IRS990/Form990PartVIISectionAGrp/PersonNm7Andrew Goldstein
IRS990/Form990PartVIISectionAGrp/PersonNm8Mark Irgang
IRS990/Form990PartVIISectionAGrp/PersonNm9Wilfred Joseph
IRS990/Form990PartVIISectionAGrp/PersonNm10Duncan Kennedy
IRS990/Form990PartVIISectionAGrp/PersonNm11Gail Lamberta
IRS990/Form990PartVIISectionAGrp/PersonNm12Shelley Larose Arken
IRS990/Form990PartVIISectionAGrp/PersonNm13Gary Lewi
IRS990/Form990PartVIISectionAGrp/PersonNm14Cara Longworth
IRS990/Form990PartVIISectionAGrp/PersonNm15Laura Mercogliano
IRS990/Form990PartVIISectionAGrp/PersonNm16Juan Micieli-Martinez
IRS990/Form990PartVIISectionAGrp/PersonNm17Gus Montesantos
IRS990/Form990PartVIISectionAGrp/PersonNm18Mitchell Pally
IRS990/Form990PartVIISectionAGrp/PersonNm19Kristen Reyes
IRS990/Form990PartVIISectionAGrp/PersonNm20Terrie Sultan
IRS990/Form990PartVIISectionAGrp/PersonNm21Marc Weinstein
IRS990/Form990PartVIISectionAGrp/PersonNm22Regina Zara
IRS990/Form990PartVIISectionAGrp/PersonNm23Steve Bate
IRS990/Form990PartVIISectionAGrp/PersonNm24Paul Monte
IRS990/Form990PartVIISectionAGrp/PersonNm25Gloria Rocchio
IRS990/Form990PartVIISectionAGrp/PersonNm26Bryan Deluca
IRS990/Form990PartVIISectionAGrp/PersonNm27Kristen Jarnagin
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Director
IRS990/Form990PartVIISectionAGrp/TitleTxt20Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21Director
IRS990/Form990PartVIISectionAGrp/TitleTxt22Director
IRS990/Form990PartVIISectionAGrp/TitleTxt23Past Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt24Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt25Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt26Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt27President & CEO
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IRS990/Form990TFiledInd0false
IRS990/FormationYr01978
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Based on Long Island in Hauppauge, NY, Discover Long Island, Inc., contributes to the economic development and quality of life on long island by promoting the region as a world-class destination for tourism, meetings and conventions, trade shows, sporting events, and related activities.
IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/NetAssetsOrFundBalancesBOYAmt01623175
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.71$1.36$5.35$6.13$5.50$0.63
2023Detailed filing. Detailed filing data is available for this year.$6.09$1.38$4.72$4.79$4.04$0.76
2022Detailed filing. Detailed filing data is available for this year.$4.59$0.63$3.96$3.53$3.34$0.19
2021Detailed filing. Detailed filing data is available for this year.$4.45$0.68$3.77$4.27$3.40$0.87
2020Detailed filing. Detailed filing data is available for this year.$3.00$0.10$2.90$3.00$2.22$0.78
2019Detailed filing. Detailed filing data is available for this year.$2.48$0.37$2.12$3.74$3.29$0.45
2018Detailed filing. Detailed filing data is available for this year.$2.03$0.36$1.67$3.54$3.49$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.86$0.24$1.62$3.56$2.96$0.61
2016Summary only. Only limited summary data is available for this year.$1.27$0.25$1.02$3.26$3.02$0.24
2015Detailed filing. Detailed filing data is available for this year.$0.96$0.19$0.78$3.23$3.06$0.17
2014Summary only. Only limited summary data is available for this year.$0.84$0.23$0.61$3.05$3.13$0.08
2013Summary only. Only limited summary data is available for this year.$0.97$0.29$0.69$3.10$3.23$0.13
2012Summary only. Only limited summary data is available for this year.$1.19$0.37$0.82$3.04$3.00$0.04
2011Summary only. Only limited summary data is available for this year.$1.13$0.35$0.77$2.76$0.00$2.76
2010Summary only. Only limited summary data is available for this year.$1.14$0.38$0.75$2.50$2.34$0.16