Discover Palm Beach Inc

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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

1983

Legal Domicile

Principal Officer

Milton Segarra

Phone

5612333000

Tax Period

2024-10-01 to 2025-09-30

Discover Palm Beach Inc, founded in 1983, is a mid-sized nonprofit that reported $28.2M in total revenue in fiscal year 2024.

Mission

To promote tourism in Palm Beach County, through the provision of accommodations, meals, hotels, and entrance fees for visiting travel agents.

Program Service Accomplishments

Program 1

Expenses: $25,769,615 Revenue: $865,405

In order to promote tourism in Palm Beach County, the Organization maintains an extensive website that highlights the following activities and information guides:1. Vacation guide for hotels and...

In order to promote tourism in Palm Beach County, the Organization maintains an extensive website that highlights the following activities and information guides:1. Vacation guide for hotels and resorts from luxury to bed and breakfast.2. Activities available by interest, for example: a. Cultural, heritage, golf, water sports, dining, etc. b. Family fun activities.3. Links to various tourist and visitor attractions and destinations.4. Calendar of events.5. Maps and directory assistance.Other website links are for accessing visitor information for each city, town and village by name in Palm Beach County, and access to statewide visitor information.

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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 $27,100,436

Program Service Revenue $865,405

Investment Income $258,274

Other Revenue $0

TOTAL REVENUE $28,224,115

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,437,150

Fundraising Expenses $0

Program Expenses $25,769,615

Other Expenses $20,217,256

TOTAL EXPENSES $27,654,406

Year-over-Year Comparison

	2024	2023	Change
Revenue	$28,224,115	$27,266,136	+0.0%
Expenses	$27,654,406	$26,737,516	+0.0%
Net Income	$569,709	$528,620	+0.1%

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

N/A

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

$960,111

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jason Emmett	Immediate past chair	2.00	Officer Director	$0	$0	$0
Peter Yesawich	Chairman	4.00	Officer Director	$0	$0	$0
Mo Elbanna	Vice Chairman	4.00	Officer Director	$0	$0	$0
Jack Lighton	Secretary/Treasurer	4.00	Officer Director	$0	$0	$0
Troy McLellan	Director	4.00	Director	$0	$0	$0
Bernardo Neto	Director	2.00	Director	$0	$0	$0
Jennifer Berthiaume	Director	2.00	Director	$0	$0	$0
Steven Klein	Director	2.00	Director	$0	$0	$0
Diane Quinn	Director	2.00	Director	$0	$0	$0
Peter Ricci	Director	2.00	Director	$0	$0	$0
Ron Wichowski	Director	2.00	Director	$0	$0	$0
Erica Kasel	Director	2.00	Director	$0	$0	$0
Andrew George	Director	2.00	Director	$0	$0	$0
Emily Snyder	Director	2.00	Director	$0	$0	$0
Rick Rose	Director	2.00	Director	$0	$0	$0
Mary Lou Bedford	Director	2.00	Director	$0	$0	$0
Noel Martinez	Director	2.00	Director	$0	$0	$0
Milton Segarra	CEO	40.00	Officer	$307,140	$72,453	$379,593
Kelly Cavers	CSO	40.00	Officer	$254,652	$61,725	$316,377
Evan Lomrantz	CFO	40.00	Officer	$213,907	$50,234	$264,141
Robin Prakash	VP	40.00	Highest	$177,932	$53,012	$230,944
Erika Constantine	VP	40.00	Highest	$142,360	$42,322	$184,682

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	$28,224,115	$27,654,406	$12,005,038	$569,709
2024	$27,266,136	$26,737,516	$11,019,681	$528,620
2023	$27,655,931	$27,021,729	$9,874,347	$634,202
2022	$21,426,923	$21,110,905	$9,359,847	$316,018
2021	$17,672,568	$17,428,551	$6,257,115	$244,017
2020	$13,345,172	$13,180,938	$5,595,818	$164,234
2019	$18,493,271	$18,445,552	$5,813,769	$47,719
2018	$16,101,964	$16,002,201	$4,864,838	$99,763