KEY WEST TOURIST DEVELOPMENT ASSOC… - 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

1998

Legal Domicile

Phone

3052959112

Tax Period

2022-01-01 to 2022-12-31

KEY WEST TOURIST DEVELOPMENT ASSOCIATION INC, founded in 1998, is a small nonprofit that reported $419K in total revenue in fiscal year 2022. Revenue surged 35% from the prior year, signaling strong growth momentum. Expenses of $396K left a modest 5% surplus.

Mission

PROMOTE TOURIST AWARENESS OF COMMUNITY

Program Service Accomplishments

Program 1

Expenses: $391,649 Revenue: $286,777

KEY WEST TDA SEEKS TO PROMOTE TOURISM, COMMUNITY AWARENESS, AND THE PRESERVATION OF KEY WEST'S HERITAGE THROUGH ITS SPONSORING OF VARIOUS SPECIAL EVENTS AND FESTIVALS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $132,381

Program Service Revenue $289,680

Investment Income $4

Other Revenue $-2,903

TOTAL REVENUE $419,162

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $391,649

Other Expenses $396,461

TOTAL EXPENSES $396,461

Year-over-Year Comparison

	2022	2021	Change
Revenue	$419,162	$311,021	+0.3%
Expenses	$396,461	$270,892	+0.5%
Net Income	$22,701	$40,129	-0.4%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARA PASQUERETTA	Director	0.50	Director	$0	$0	$0
FRED BUSHEY	Director	0.50	Director	$0	$0	$0
DANI FOSSUM	Director	0.50	Director	$0	$0	$0
CHRISTOPHER ELWELL	Director	0.50	Director	$0	$0	$0
STEVE ROBBINS	President	1.50	Officer Director	$0	$0	$0
DIANE SCHMIDT	Treasurer	1.50	Officer Director	$0	$0	$0
JEFF SMEAD	Director	35.00	Director	$0	$0	$0
MATT TRAHAN	Director	0.50	Director	$0	$0	$0
JOHN SPOTTSWOOD III	Director	0.50	Director	$0	$0	$0

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
2024	No data	No data	No data	No data
2022	$419,162	$396,461	$77,507	$22,701
2021	$311,021	$270,892	$110,360	$40,129
2020	$10,555	$84,594	$16,438	$-74,039
2019	$534,886	$516,673	$126,555	$18,213
2018	$572,751	$537,114	$109,866	$35,637

KEY WEST TOURIST DEVELOPMENT ASSOCIATION INC