2024-07-11T09:48:27-05:00 2023-09-30 135565207 KPMG LLP 8350 BROAD STREET SUITE 900 MCLEAN VA 22102 990 2022-10-01 364681868 THE CORPORATION FOR TRAVEL PROMOTION CORP 2025362084 1725 EYE STREET NW 800 WASHINGTON DC 20006 DONALD F RICHARDSON CHIEF FIN, DIV & INCL OFFICER 2025362084 2024-07-11 1 DONALD RICHARDSON 999009999 1 BRIAN KEARNS P02061479 7032868000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BRAND USA CHRISTOPHER L THOMPSON 1725 EYE STREET NW 800 WASHINGTON DC 20006 383915933 0 X WWW.THEBRANDUSA.COM X 2010 DC SEE SCHEDULE O 11 11 68 14 3500 0 326899266 166905876 1126869 415363 1989936 8433881 14868 -23157 330030939 175731963 25000 25000 0 0 8752100 12975741 0 0 0 82672190 170559957 91449290 183560698 238581649 -7828735 393379443 453274623 30347831 37382466 363031612 415892157 X SEE SCHEDULE O 0 0 SEE SCHEDULE O SEE SCHEDULE O SEE SCHEDULE O 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 46 0 1 68 1 1 1 0 0 0 1 1 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 1 1 1 0 0 X DONALD F RICHARDSON CHIEF FIN DIV & INCL OFFICER 2025362084 1725 EYE STREET NW SUITE 800 WASHINGTON DC 20006 TODD DAVIDSON CHAIR 4.00 0.00 X X 0 0 0 ALICE NORSWORTHY UNTIL 0123 CHAIR 4.00 0.00 X X 0 0 0 DONALD MOORE VICE CHAIR 1.00 0.00 X X 0 0 0 KEIKO MATSUDO ORRALL VICE CHAIR 1.00 0.00 X X 0 0 0 ELLIOTT FERGUSON TREASURER 1.00 0.00 X X 0 0 0 NOEL IRWIN HENSCHEL SECRETARY 1.00 0.00 X X 0 0 0 MARK HOPLAMAZIAN DIRECTOR 1.00 0.00 X 0 0 0 KRISTEN ESPOSITO DIRECTOR 1.00 0.00 X 0 0 0 LAUREN BAILEY DIRECTOR 1.00 0.00 X 0 0 0 TOM O'TOOLE UNTIL 0123 DIRECTOR 1.00 0.00 X 0 0 0 DEAN KANTARAS UNTIL 0123 DIRECTOR 1.00 0.00 X 0 0 0 STEPHANIE YOUNG AS OF 0123 DIRECTOR 1.00 0.00 X 0 0 0 TIM MAPES AS OF 0123 DIRECTOR 1.00 0.00 X 0 0 0 ALLEN ORR AS OF 0123 DIRECTOR 1.00 0.00 X 0 0 0 CHRISTOPHER L THOMPSON CEO & PRESIDENT 40.00 0.00 X 627697 0 27998 DONALD F RICHARDSON CHIEF FIN, DIV & INCL OFFICER 40.00 0.00 X 476746 0 36580 THOMAS J GARZILLI UNTIL 0123 CHIEF MKTG OFFICER 40.00 0.00 X 470124 0 41312 AARON WODINSCHWARTZ SVP, COMMUNICATIONS & PUBLIC POLICY 40.00 0.00 X 315911 0 34447 JOHN O CONTE VP, GENERAL COUNSEL 40.00 0.00 X 260165 0 31059 MARK LAPIDUS VP, CONTENT & MARKETING TECHNOLOGY 40.00 0.00 X 246767 0 38325 MING SUEY NEWCOMB VP, FINANCE & ACCOUNTING 40.00 0.00 X 245223 0 21075 CASSADY BAILEY VP, PARTNER ENGAGEMENT & MARKETING 40.00 0.00 X 244096 0 18761 ROSINA BARBASTEFANO SEN DIR, INSIGHTS & ANALYTICS 40.00 0.00 X 231451 0 42680 3118180 0 292237 26 0 1 0 MILES PARTNERSHIP LLLP 6751 PROFESSIONAL PARKWAY SARASOTA FL 34240 COOPERAIVE MKT SRVC 13885512 MEDIACOM LONDON 124 THEOBALDS RD LONDON UK WC1XBRX MEDIA PLAN & BUYING 9746342 MEDIACOM 175 GREENWICH ST NEW YORK NY 10007 MEDIA PLAN & BUYING 8273079 ALL RESPONSE MEDIA LTD 65 GOSWELL RD LONDON UK EC1V7EN MEDIA PLAN & BUYING 6105937 ARIADNA USA LLC 251 LITTLE FALLS DR WILMINGTON DE 19808 MEDIA PLAN & BUYING 5037028 91 52680650 114225226 166905876 PROGRAM REVENUE 900099 410964 407464 3500 SPONSORSHIP REVENUE 900099 4399 4399 415363 8343650 8343650 112032 146407 -34375 -34375 -34375 208127794 208037563 90231 90231 90231 MISCELLANEOUS 900099 10000 10000 SETTLEMENT 900099 1218 1218 11218 175731963 423081 3500 8399506 25000 2136996 8829694 228411 1174494 606146 412096 195150 1107262 156165031 292602 1325223 1104961 1149254 5775408 1559090 122702 RESEARCH 2771083 COMMUNICATIONS 411852 MEMBERSHIP DUES 65000 BAD DEBT EXPENSE -1896757 183560698 49685303 30638819 6467398 1968978 14047985 72260443 23551608 114389416 4731470 7481668 3973505 2833960 1417117 1139545 284592494 217484077 4985401 5053593 3900667 2858084 393379443 453274623 25850720 33918727 371500 4497111 3092239 30347831 37382466 X 340584319 330088281 22447293 85803876 363031612 415892157 393379443 453274623 X -7828735 2456823 62895095 -4682638 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 1553378 1474346 79032 307153 272163 34990 2112974 1087451 1025523 1139545 OPERATING LEASE LIABILITY 3092239 3092239 X 291389734 2456823 113054541 146407 115657771 175731963 0 175731963 233846551 50159446 146407 50305853 183540698 0 183540698 PART X, LINE 2: CTP IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE (THE CODE) EXCEPT FOR TAXES ON UNRELATED BUSINESS INCOME. CONTRIBUTIONS TO CTP ARE NOT TAX DEDUCTIBLE BY DONORS UNDER SECTION 170(C)(2) OF THE CODE. CTP'S ACCOUNTING POLICY FOR EVALUATING UNCERTAIN TAX POSITIONS IS TO RECOGNIZE TAX POSITIONS IF THE POSITION WOULD MORE LIKELY THAN NOT BE ULTIMATELY SUSTAINED. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. FOR TAX POSITIONS NOT MEETING THE MORE LIKELY THAN NOT TEST, NO TAX BENEFIT IS RECORDED. CTP DOES NOT INCLUDE ANY UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES RECORDED ON VIII LINE 6B 146,407. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES RECORDED ON VIII LINE 6B 146,407. EUROPE 0 3 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 50814027 EAST ASIA & THE PACIFIC 0 6 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 4358904 NORTH AMERICA 0 1 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 3721590 SOUTH AMERICA 0 1 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 1485412 SOUTH ASIA 0 1 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 681532 CENTRAL AMERICA & CARRIBEAN 0 0 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 3000 0 12 0 0 0 12 61064465 0 61064465 0 0 0 0 0 0 PART I, LINE 2: N/A - CTP DOES NOT MAKE GRANTS OUTSIDE OF THE UNITED STATES. PART I, LINE 3: CTP CONDUCTS MULTI-MEDIA CONSUMER MARKETING CAMPAIGNS, INCLUDING COOPERATIVE MARKETING PROMOTING THE DESTINATIONS AND ATTRACTIONS THAT MAKE UP THE TRAVEL OPPORTUNITIES WITHIN THE UNITED STATES, AIMED AT CONSUMERS IN THE MARKETS LISTED IN PART 1 LINE 3. THE GOAL IS TO ENCOURAGE CONSUMERS TO CONSIDER AND BOOK TRAVEL FROM THEIR SOURCE MARKETS TO THE UNITED STATES. CTP ALSO CONDUCTS BUSINESS-TO-BUSINESS MARKETING, PROMOTIONAL, AND EDUCATIONAL CAMPAIGNS AIMED AT IN-MARKET TRAVEL COMPANIES TO ENCOURAGE AND BETTER PREPARE THEM TO SELL TRAVEL FROM THEIR SOURCE MARKETS TO THE UNITED STATES. PART III ACCOUNTING METHOD: 0 DESTINATIONS INTERNATIONAL FOUNDATION PO BOX 650217 POTOMAC FALLS VA 20165 310507334 501(C)(3) 25000 0 ANNUAL INVESTMENT CAMPAIGN 1 X 1 1 X X 0 0 0 CHRISTOPHER L THOMPSON CEO & PRESIDENT 547097 0 2600 0 78000 0 12135 0 15863 0 655695 0 0 0 DONALD F RICHARDSON CHIEF FIN, DIV & INCL OFFICER 380771 0 95975 0 0 0 11408 0 25172 0 513326 0 0 0 THOMAS J GARZILLI UNTIL 0123 CHIEF MKTG OFFICER 374973 0 95151 0 0 0 12200 0 29112 0 511436 0 0 0 AARON WODINSCHWARTZ SVP, COMMUNICATIONS & PUBLIC POLICY 262350 0 53561 0 0 0 11457 0 22990 0 350358 0 0 0 JOHN O CONTE VP, GENERAL COUNSEL 212488 0 47677 0 0 0 9894 0 21165 0 291224 0 0 0 MARK LAPIDUS VP, CONTENT & MARKETING TECHNOLOGY 204667 0 42100 0 0 0 8330 0 29995 0 285092 0 0 0 ROSINA BARBASTEFANO SEN DIR, INSIGHTS & ANALYTICS 186351 0 45100 0 0 0 9504 0 33176 0 274131 0 0 0 MING SUEY NEWCOMB VP, FINANCE & ACCOUNTING 203123 0 42100 0 0 0 9205 0 11870 0 266298 0 0 0 CASSADY BAILEY VP, PARTNER ENGAGEMENT & MARKETING 200896 0 43200 0 0 0 7522 0 11239 0 262857 0 0 0 PART I, LINE 1A THE CEO RECEIVED LIMITED HOUSING ALLOWANCE ACCORDING TO HIS EMPLOYMENT AGREEMENT, WHICH WAS REPORTED AS TAXABLE COMPENSATION ON THE W-2. FORM 990, PART I, LINE 1: PROMOTION OF THE U.S. AS A PREMIER TRAVEL DESTINATION & COMMUNICATING U.S. ENTRY/EXIT POLICIES & PROCEDURES. FORM 990, PART III, LINE 1: THE MISSION OF BRAND USA IS TO ENCOURAGE INCREASED INTERNATIONAL VISITATION TO, THROUGH, AND BEYOND THE GATEWAYS. IN DOING SO, WE AIM TO BRING NEW INTERNATIONAL VISITORS TO THE UNITED STATES SO THAT THE ECONOMIC AND DIPLOMATIC BENEFITS OF INTERNATIONAL VISITATION ARE FELT THROUGHOUT THE COUNTRY. FORM 990, PART III, LINE 4A: 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 11 COUNTRIES AND ARE ACTIVE YEAR ROUND. FORM 990, PART III, LINE 4B: 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. FORM 990, PART III, LINE 4C: 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. FORM 990, PART VI, SECTION B, LINE 11B 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. FORM 990, PART VI, SECTION B, LINE 12C 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. FORM 990, PART VI, SECTION B, LINE 15A THE CORPORATION'S BOARD OF DIRECTORS AUTHORIZED A SEARCH COMMITTEE AND DESIGNATED IT WITH AUTHORITY TO CONDUCT AN EXECUTIVE DIRECTOR (CEO) SEARCH. THE COMMITTEE WAS SELECTED TO RESEARCH AND RECOMMEND A SEARCH FIRM FOR THE COMMITTEE TO CONDUCT THE JOB SEARCH FOR THE EXECUTIVE DIRECTOR (CEO) POSITION. THE BOARD VOTED TO HIRE THE EXECUTIVE SEARCH FIRM, SPENCER STUART, TO CONDUCT THE CEO SEARCH. THE COMMITTEE WAS RESPONSIBLE FOR WORKING WITH THE SEARCH FIRM TO DEVELOP THE WRITTEN EMPLOYMENT CONTRACT, REVIEW THE COMPENSATION AND TO SCREEN THE LEADING CANDIDATES. THE BOARD, IN CONSULTATION WITH THE SEARCH FIRM, SET THE COMPENSATION BASED ON 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. ALL MEMBERS OF THE COMMITTEE WERE INDEPENDENT WITH RESPECT TO THE CANDIDATES FOR THE POSITION AND THE EXECUTIVE DIRECTOR (CEO) ULTIMATELY SELECTED. WHILE WORKING WITH THE SEARCH FIRM, THE COMMITTEE CONTEMPORANEOUSLY DOCUMENTED DELIBERATIONS AND DISCUSSIONS. THE MEANS OF DETERMINING COMPENSATION AND DEVELOPING THE WRITTEN EMPLOYMENT CONTRACT WERE ALSO DOCUMENTED THROUGHOUT THE PROCESS. THE CEO'S CURRENT EMPLOYMENT CONTRACT WAS REVIEWED AND BENCHMARKED AGAINST THE EXISTING MARKET IN A COMPENSATION STUDY IN 2018. THE CONTRACT WAS NOT CHANGED AS A RESULT. THE BOARD OF DIRECTORS MEETS QUARTERLY 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 EMPLOYEES COMPENSATION IS DETERMINED BY A COMPENSATION STUDY. THE COMPENSATION REVIEW PROCESS WAS LAST DONE FALL 2021. FORM 990, PART VI, SECTION C, LINE 19 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. FORM 990, PART XI, LINE 9: WRITEDOWN ON UNCOLLECTIBLE IN KIND -4,682,638.