TOURISM COUNCIL OF FREDERICK COUNT… - 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

1976

Legal Domicile

Principal Officer

DAVID ZIEDELIS

Phone

3016004041

Tax Period

2024-07-01 to 2025-06-30

TOURISM COUNCIL OF FREDERICK COUNTY INC, founded in 1976, is a community nonprofit that reported $3.3M in total revenue in fiscal year 2024. Expenses of $3.7M exceeded revenue, resulting in a 12% operating deficit.

Mission

THE TOURISM COUNCIL OF FREDERICK COUNTY IS A PUBLIC-PRIVATE PARTNERSHIP DEDICATED TO ENHANCING THE ECONOMIC BENEFIT OF TOURISM FOR FREDERICK COUNTY'S BUSINESSES, ATTRACTIONS, LOCAL GOVERNMENTS, AND RESIDENTS.

Program Service Accomplishments

Program 1

DESTINATION MARKETING INCLUDED $779,746 OF ADVERTISEMENTS PLACED IN VARIOUS MEDIA OUTLETS IN FY25 PROMOTING FREDERICK COUNTY AS A VISITOR DESTINATION GENERATING REQUESTS FOR VISITOR INFORMATION...

DESTINATION MARKETING INCLUDED $779,746 OF ADVERTISEMENTS PLACED IN VARIOUS MEDIA OUTLETS IN FY25 PROMOTING FREDERICK COUNTY AS A VISITOR DESTINATION GENERATING REQUESTS FOR VISITOR INFORMATION PACKETS TO BE MAILED; $113,593 WAS SPENT ON GENERAL MARKETING, MEETINGS, CONFERENCES, TRADE SHOWS, AND MARKET RESEARCH TO INCREASE AWARENESS AND VISITATION; AND $177,407 TO OPERATE THE VISITFREDERICK.ORG WEBSITE AND ASSOCIATED DATABASES. IN 2024, $564 MILLION WAS SPENT IN FREDERICK COUNTY BY VISITORS.

Program 2

DESTINATION DEVELOPMENT EXPENDITURES TOTALED $313,251 INCLUDING SUPPORT OF THE GREAT FREDERICK FAIR, THE HEART OF THE CIVIL WAR HERITAGE AREA, AND VARIOUS FESTIVALS IN THE FREDERICK SURROUNDING AREA.

Program 3

VISITOR SERVICES INCLUDING OPERATION OF THE FREDERICK VISITOR CENTER, PRODUCING BROCHURES AND A VISITOR GUIDE. IN FY25 THE FREDERICK VISITOR CENTER HOSTED XX VISITORS. VISITORS CAME FROM 49 STATES...

VISITOR SERVICES INCLUDING OPERATION OF THE FREDERICK VISITOR CENTER, PRODUCING BROCHURES AND A VISITOR GUIDE. IN FY25 THE FREDERICK VISITOR CENTER HOSTED XX VISITORS. VISITORS CAME FROM 49 STATES AND 46 INTERNATIONAL COUNTRIES.

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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 $3,141,558

Program Service Revenue $139,758

Investment Income $29,865

Other Revenue $16,897

TOTAL REVENUE $3,328,078

Expense Breakdown

Grants Paid $896,637

Salaries & Benefits $829,256

Fundraising Expenses $0

Other Expenses $2,016,220

TOTAL EXPENSES $3,742,113

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,328,078	$3,367,862	0.0%
Expenses	$3,742,113	$3,148,724	+0.2%
Net Income	$-414,035	$219,138	-2.9%

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

$186,393

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROB JUDGE	PRESIDENT	1.00	Officer Director	$0	$0	$0
MONICA PEARCE	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL HENNINGSEN	TREASURER	1.00	Officer Director	$0	$0	$0
ELIZABETH DEROSE	1ST VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MIKE IRONS	DIRECTOR	0.50	Director	$0	$0	$0
MONIQUE PASQUALE	DIRECTOR	0.50	Director	$0	$0	$0
BARBARA LICCIONE	2ND VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
ASHLY WRIGHT	SECRETARY	1.00	Officer Director	$0	$0	$0
ABBY BRUSCO	DIRECTOR	0.50	Director	$0	$0	$0
MAYOR MICHAEL O'CONNOR	DIRECTOR	0.50	Director	$0	$0	$0
COUNTY EXECUTIVE JESSICA FITZWATER	DIRECTOR	0.50	Director	$0	$0	$0
ANGEL WHITE	DIRECTOR	0.50	Director	$0	$0	$0
CHRIS CLEMONS	DIRECTOR	0.50	Director	$0	$0	$0
AMIE ST ANGELO	DIRECTOR	0.50	Director	$0	$0	$0
SHERIF SALEM	DIRECTOR	0.50	Director	$0	$0	$0
DAVID PRICE	DIRECTOR	0.50	Director	$0	$0	$0
SCOTT WISNOM	DIRECTOR	0.50	Director	$0	$0	$0
RANDY JONES	DIRECTOR	0.50	Director	$0	$0	$0
PHIL BOWERS	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
ROBERT BLACK	DIRECTOR	0.50	Director	$0	$0	$0
STEPHANIE CHAIKEN	DIRECTOR	0.50	Director	$0	$0	$0
KARA NORMAN	DIRECTOR	0.50	Director	$0	$0	$0
RICK SLADE	DIRECTOR	0.50	Director	$0	$0	$0
LOUISE KENNELLY	DIRECTOR	0.50	Director	$0	$0	$0
DAVID ZIEDELIS	EXECUTIVE DIRECTOR	55.00	Officer	$160,653	$25,740	$186,393

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	$3,328,078	$3,742,113	$3,833,330	$-414,035
2024	$3,367,862	$3,148,724	$4,293,624	$219,138
2023	$3,422,537	$3,145,584	$4,105,610	$276,953
2022	$3,502,296	$2,650,458	$3,912,533	$851,838
2021	$2,391,435	$2,247,584	$3,460,577	$143,851
2020	$2,603,082	$2,551,639	$3,278,091	$51,443
2019	$2,979,182	$2,875,879	$3,312,140	$103,303
2018	$2,852,904	$2,737,544	$3,297,700	$115,360

TOURISM COUNCIL OF FREDERICK COUNTY INC