CARLSBAD CONVENTION & VISITORS BUR… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1997

Legal Domicile

Principal Officer

KIM SIDORIAK

Phone

7602488478

Tax Period

2024-07-01 to 2025-06-30

CARLSBAD CONVENTION & VISITORS BUREAU, founded in 1997, is a community nonprofit that reported $7.4M in total revenue in fiscal year 2024. Revenue fell 51% from the prior year — a significant decline worth monitoring.

Mission

VISIT CARLSBAD PROMOTES AND ELEVATES THE PERCEPTION OF CARLSBAD THROUGH INNOVATIVE PROGRAMS THAT ENHANCE THE VISITOR ECONOMY WHILE PRESERVING THE EXCEPTIONAL QUALITY OF LIFE.

Program Service Accomplishments

Program 1

GENERATED EARNED MEDIA PLACEMENTS TOTALING 937 MILLION IMPRESSIONS. SUPPORTED 52 CONFERENCE GROUPS BOOKING CARLSBAD WITH GROUP INCENTIVE PROGRAM, GENERATING OVER 35,000 NEED PERIOD GROUP ROOM NIGHTS AND $11 MILLION IN NEED PERIOD ROOM REVENUE. EXECUTED TWO MAJOR NEED PERIOD ADVERTISING CAMPAIGNS, WHICH GENERATED 352,000 INCREMENTAL ROOM NIGHTS AND $212 MILLION IN INCREMENTAL TOURISM REVENUE. TOURISM IN CARLSBAD GENERATED $35.5 MILLION OF TRANSIENT OCCUPANCY TAX REVENUES INTO THE CITY OF CARLSBAD'S GENERAL FUND. ADOPTED NEW 3-YEAR STRATEGIC PLAN AND EARNED CERTIFIED AUTISM CENTER DESIGNATION FROM THE INTERNATIONAL BOARD OF CREDENTIALING AND CONTINUING EDUCATION STANDARDS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $7,214,054

Program Service Revenue $0

Investment Income $142,113

Other Revenue $0

TOTAL REVENUE $7,356,167

Expense Breakdown

Grants Paid $142,500

Salaries & Benefits $1,286,173

Fundraising Expenses $0

Other Expenses $6,145,221

TOTAL EXPENSES $7,573,894

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,356,167	$14,887,369	-0.5%
Expenses	$7,573,894	$6,917,199	+0.1%
Net Income	$-217,727	$7,970,170	-1.0%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$468,656

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM STRIPE	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
RANDAL CHAPIN	DIRECTOR	1.00	Director	$0	$0	$0
CHAD EDING	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
GEOFFREY PARKFORD	DIRECTOR	1.00	Director	$0	$0	$0
KURT STOCKS	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY SIDORIAK	PRESIDENT & CEO	40.00	Officer	$260,046	$38,771	$298,817
MARK RUDYK	VP MARKETING & COMMUNICATION	40.00	Officer	$145,838	$24,001	$169,839
JED ARROGANTE	BUSINESS DEVELOPMENT MANAGER	40.00	Highest	$105,936	$19,642	$125,578
TINA BURKE	DIRECTOR OF FINANCE & ADMINISTRATION	40.00	Highest	$101,763	$27,801	$129,564

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$7,356,167	$7,573,894	$8,771,843	$-217,727
2024	$14,887,369	$6,917,199	$9,374,820	$7,970,170
2023	$4,318,701	$4,300,831	$1,459,979	$17,870
2022	$2,615,958	$2,640,381	$128,606	$-24,423
2022	$2,624,958	$2,724,382	$54,736	$-99,424
2021	$814,425	$781,213	$90,787	$33,212

CARLSBAD CONVENTION & VISITORS BUREAU