PANAMA CITY BEACH CONVENTION AND V… - 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

Principal Officer

DAN ROWE

Phone

8502335070

Tax Period

2023-10-01 to 2024-09-30

PANAMA CITY BEACH CONVENTION AND VISITORS BUREAU, founded in 1998, is a mid-sized nonprofit in the Community Improvement sector that reported $21.1M in total revenue in fiscal year 2023.

Mission

PROVIDE DESTINATION SALES AND PROMOTIONAL SERVICES, DEVELOP SPECIAL EVENTS, AND WORK TO ENHANCE THE IMAGE OF PANAMA CITY BEACH AND ITS ATTRACTIONS.

Program Service Accomplishments

Program 1

Expenses: $16,660,995 Revenue: $18,696,862

CONDUCT A COMPREHENSIVE MARKETING PROGRAM WHICH ENHANCES THE IMAGE OF PANAMA CITY BEACH AND ATTRACTS MAXIMUM NUMBER OF VISITORS TO THE PCB TOURIST TAX DISTRICT. MANAGE, STAFF AND RESTOCK WITH...

CONDUCT A COMPREHENSIVE MARKETING PROGRAM WHICH ENHANCES THE IMAGE OF PANAMA CITY BEACH AND ATTRACTS MAXIMUM NUMBER OF VISITORS TO THE PCB TOURIST TAX DISTRICT. MANAGE, STAFF AND RESTOCK WITH COLLATERAL MATERIALS ALL OFFICIALLY DESIGNATED VISITOR CENTERS OPERATED ON BEHALF OF THE BAY COUNTY TDC AND THE PCBCVB.

Program 2

Expenses: $2,694,925 Revenue: $2,434,399

ATTRACTING SPORTS TOURISM TOURNAMENTS AND OTHER EVENTS, THE OPERATION OF THE PUBLIX SPORTS PARK SUPPORTS, AND IS A FUNCTION OF, THE PANAMA CITY BEACH CONVENTION AND VISITORS BUREAU DESTINATION...

ATTRACTING SPORTS TOURISM TOURNAMENTS AND OTHER EVENTS, THE OPERATION OF THE PUBLIX SPORTS PARK SUPPORTS, AND IS A FUNCTION OF, THE PANAMA CITY BEACH CONVENTION AND VISITORS BUREAU DESTINATION MARKETING EFFORTS.

Program 3

Expenses: $1,496,656 Revenue: $173,939

PROVIDE PROFESSIONAL SPECIAL EVENT MANAGEMENT AND SUPPORT STAFF TO PRODUCE SPECIAL EVENTS THAT WILL ATTRACT ADDITIONAL VISITORS DURING SHOULDER AND OFF-PEAK SEASONS.

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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 $72,500

Program Service Revenue $20,956,590

Investment Income $102,171

Other Revenue $-45,836

TOTAL REVENUE $21,085,425

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,119,689

Fundraising Expenses $0

Program Expenses $20,852,576

Other Expenses $18,513,112

TOTAL EXPENSES $20,632,801

Year-over-Year Comparison

	2023	2022	Change
Revenue	$21,085,425	$20,287,893	+0.0%
Expenses	$20,632,801	$19,152,934	+0.1%
Net Income	$452,624	$1,134,959	-0.6%

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

$311,476

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHIL CHESTER	DIRECTOR	5.00	Director	$0	$0	$0
CLAIR PEASE	CHAIRMAN	2.00	Officer Director	$0	$0	$0
JOHN PATRONIS	SECRETARY/TR	2.00	Officer Director	$0	$0	$0
MIKE JANSEN	BOARD MEMBER	2.00	Director	$0	$0	$0
REGGIE JOHNS	BOARD MEMBER	2.00	Director	$0	$0	$0
ANDY PHILLIPS	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JEFF DIBENEDICTIS	BOARD MEMBER	2.00	Director	$0	$0	$0
GARY WALSINGHAM	BOARD MEMBER	2.00	Officer Director	$0	$0	$0
PAUL CASTO	BOARD MEMBER	2.00	Director	$0	$0	$0
DAN ROWE	PRESIDENT	40.00	Officer	$311,476	$0	$311,476

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	$21,085,425	$20,632,801	$9,059,178	$452,624
2023	$20,287,893	$19,152,934	$9,141,818	$1,134,959
2022	$16,078,681	$15,344,903	$7,276,277	$733,778
2021	$13,906,597	$12,995,730	$6,910,172	$910,867
2020	$12,758,485	$12,591,184	$5,269,506	$167,301
2019	$17,133,157	$18,798,906	$5,585,287	$-1,665,749
2018	$15,275,449	$14,161,423	$7,289,644	$1,114,026

PANAMA CITY BEACH CONVENTION AND VISITORS BUREAU