GREATER MIAMI CONVENTION & VISITORS

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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

DAVID WHITAKER

Phone

3055393032

Tax Period

2023-10-01 to 2024-09-30

GREATER MIAMI CONVENTION & VISITORS, founded in 1983, is a mid-sized nonprofit that reported $51.8M in total revenue in fiscal year 2023. Expenses of $49.0M left a modest 5% surplus.

Mission

THE GREATER MIAMI CONVENTION & VISITORS BUREAU'S MISSION IS TO GENERATE TRAVEL DEMAND TO GREATER MIAMI AND MIAMI BEACH, TO MAXIMIZE ECONOMIC IMPACT TO OUR COMMUNITY, ENSURE INDUSTRY RESILIENCY, AND ELEVATE THE RESIDENT QUALITY OF LIFE.

Program Service Accomplishments

Program 1

IN ORDER TO ATTRACT VISITORS TO GREATER MIAMI AND MIAMI BEACH, GMCVB SUPPORTS ALL COMMUNITY ACTIVITIES THAT ENHANCE THE AREA AS AN ATTRACTIVE AND DESIRABLE PLACE FOR MEETINGS, BUSINESS AND LEISURE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $46,569,696

Program Service Revenue $3,820,394

Investment Income $1,362,318

Other Revenue $0

TOTAL REVENUE $51,752,408

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,846,359

Fundraising Expenses $0

Other Expenses $36,156,383

TOTAL EXPENSES $49,002,742

Year-over-Year Comparison

	2023	2022	Change
Revenue	$51,752,408	$50,321,618	+0.0%
Expenses	$49,002,742	$46,388,774	+0.1%
Net Income	$2,749,666	$3,932,844	-0.3%

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

$1,641,554

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULISSA KEPNER	EXEC. COMMITTEE - CHAIR OF THE BOARD	1.00	Director	$0	$0	$0
GENE PRESCOTT	EXEC. COMMITTEE - CHAIR EMERITUS	1.00	Director	$0	$0	$0
BRUCE OROSZ	EXEC. COMMITTEE - IMMEDIATE PAST CHAIR	1.00	Director	$0	$0	$0
MUTLUHAN KUCUK	EXEC. COMMITTEE - CONVENTION SALES COMMITTEE CHAIR	1.00	Director	$0	$0	$0
ANTHONY BRUNSON	EXEC. COMMITTEE - FINANCE & AUDIT COMMITTEE CHAIR	1.00	Director	$0	$0	$0
SUZETTE ESPINSOA FUENTES	EXEC. COMMITTEE - MARKETING & TOURISM COMMITTE	1.00	Director	$0	$0	$0
YVETTE HARRIS	EXEC. COMMITTEE - MULTICULTURAL TOURISM & DEVEP.	1.00	Director	$0	$0	$0
CHRISTINE VALLS	EXEC. COMMITTEE - NOMINATING COMMITTEE CHAIR	1.00	Director	$0	$0	$0
LAURA DOMINGUEZ	EXEC. COMMITTEE - AT LARGE	1.00	Director	$0	$0	$0
FRANCESCA COVEY	EXEC. COMMITTEE - AT LARGE	1.00	Director	$0	$0	$0
ERIC CARPENTER	EXEC. COMMITTEE - AT LARGE	1.00	Director	$0	$0	$0
RICHARD FAIN	PAST CHAIRS	1.00	Director	$0	$0	$0
STEVEN HAAS	PAST CHAIRS	1.00	Director	$0	$0	$0
ADOLFO HENRIQUES	PAST CHAIRS	1.00	Director	$0	$0	$0
THOMAS F HEWITT	PAST CHAIRS	1.00	Director	$0	$0	$0
DONALD E LEFTON	PAST CHAIRS	1.00	Director	$0	$0	$0
R DONAHUE PEEBLES	PAST CHAIRS	1.00	Director	$0	$0	$0
CHRISTOPHER PERKS	PAST CHAIRS	1.00	Director	$0	$0	$0
MARIA SASTRE	PAST CHAIRS	1.00	Director	$0	$0	$0
STEPHEN SONNABEND	PAST CHAIRS	1.00	Director	$0	$0	$0
AUSTIN BAGWELL	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
RODNEY BARRETO	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
RICK BEASLEY	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
AMIR BLATTNER	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
WAYNE BRACKIN	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
SILVIA CAMAROTA	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
MICHAEL CHENG PHD CHE	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
TERESA FOXX	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
EDUARDO JOSE GARCIA JR	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
KEON HARDEMON	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
MARLON HILL	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
CHRISTINE KING	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
RAUL LEAL	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
JUAN CARLOS LISCANO	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
PAUL LOWENTHAL	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
NAVIN MAHTANI	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
CAROLINE O'CONNOR	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
FREDDIE PETERSON	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
MYLES PISTORIUS	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
JONATHAN PLUTZIK	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
ERIC POMS	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
OLGA RAMUDO	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
CHRIS ROLLINS	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
GRISETTE ROQUE-MARCOS	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
LEE SCHRAGER	BOARD OF DIRECTORS	1.00	Director	$0	$0	$0
STEVE ADKINS	EX-OFFICIO	1.00	Director	$0	$0	$0
RALPH CUTIE	EX-OFFICIO	1.00	Director	$0	$0	$0
SEAN FLETCHER	EX-OFFICIO	1.00	Director	$0	$0	$0
JORGE GONZALEZ	EX-OFFICIO	1.00	Director	$0	$0	$0
WENDY KALLERGIS	EX-OFFICIO	1.00	Director	$0	$0	$0
ERIC KNOWLES	EX-OFFICIO	1.00	Director	$0	$0	$0
LILIAM LOPEZ	EX-OFFICIO	1.00	Director	$0	$0	$0
IBIS ROMERO	EX-OFFICIO	1.00	Director	$0	$0	$0
ALFRED SANCHEZ	EX-OFFICIO	1.00	Director	$0	$0	$0
MARK TROWBRIDGE	EX-OFFICIO	1.00	Director	$0	$0	$0
HYDI WEBB	EX-OFFICIO	1.00	Director	$0	$0	$0
DAVID WHITAKER	PRESIDENT/CEO	37.50	Officer	$446,839	$127,502	$574,341
ROLANDO AEDO	COO	37.50	Officer	$399,616	$158,698	$558,314
JOSEPH YARZABAL	CFO	37.50	Officer	$355,819	$153,080	$508,899
CAROL MOTLEY	SVP CONVENTION SALES	37.50	Highest	$313,420	$73,744	$387,164
DONNA DEL GALLO	SR. REGIONAL DIRECTOR	37.50	Highest	$187,402	$70,239	$257,641
ALEJANDRO BATISTA	VP CONVENTION SALES	37.50	Highest	$259,217	$97,367	$356,584
GISELA MARTI	SVP MKTG & TOURISM	37.50	Highest	$263,609	$86,385	$349,994
CONNIE KINNARD	SVP MULTICULTURAL TOURISM	37.50	Highest	$268,628	$66,091	$334,719
ALVIN L WEST	FORMER OFFICER (THRU 12/2023)	37.50		$437,276	$35,310	$472,586

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	$51,752,408	$49,002,742	$59,667,725	$2,749,666
2024	$51,752,408	$49,002,742	$59,667,725	$2,749,666
2023	$50,321,618	$46,388,774	$46,928,569	$3,932,844
2022	$48,025,666	$36,285,789	$41,421,226	$11,739,877
2021	$32,926,540	$28,901,678	$31,705,005	$4,024,862
2020	$26,319,264	$28,238,588	$23,032,290	$-1,919,324
2019	$36,056,115	$35,245,510	$25,323,480	$810,605
2018	$35,613,037	$34,062,248	$25,334,038	$1,550,789