CORPUS CHRISTI TOURISM PUBLIC IMPR… - 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

2022

Legal Domicile

Principal Officer

BROOK KAUFMAN

Phone

3618811888

Tax Period

2023-10-01 to 2024-09-30

CORPUS CHRISTI TOURISM PUBLIC IMPROVEMENT, founded in 2022, is a community nonprofit in the Community Improvement sector that reported $2.6M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion.

Mission

THE MISSION OF THE TPID IS TO INCREASE THE FUNDING AVAILABLE TO MARKET AND PROVIDE INCENTIVES TO ENHANCE CORPUS CHRISTI'S PERFORMANCE AS A CONVENTION AND TOURISM DESTINATION. THE TPID WILL FOCUS ON PROVIDING ADDITIONAL PROMOTION TO KEY STRATEGIC INITIATIVES INCLUDING THE CORPUS CHRISTI SPORTS, FILM AND MUSIC COMMISSIONS, AS WELL AS INCREASED NATIONAL AND INTERNATIONAL MARKETING.

Program Service Accomplishments

Program 1

Expenses: $2,615,791 Revenue: $2,574,250

TO INCREASE THE FUNDING AVAILABLE TO MARKET AND PROVIDE INCENTIVES TO ENHANCE CORPUS CHRISTI'S PERFORMANCE AS A CONVENTION AND TOURISM DESTINATION.

Program 2

N/A

Program 3

N/A

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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 $0

Program Service Revenue $2,574,250

Investment Income $43,413

Other Revenue $0

TOTAL REVENUE $2,617,663

Expense Breakdown

Grants Paid $0

Salaries & Benefits $333,912

Fundraising Expenses $0

Program Expenses $2,615,791

Other Expenses $2,308,194

TOTAL EXPENSES $2,642,106

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,617,663	$2,263,514	+0.2%
Expenses	$2,642,106	$1,390,734	+0.9%
Net Income	$-24,443	$872,780	-1.0%

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

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

$232,225

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAUSHIK BHAKTA	DIRECTOR	5.00	Director	$0	$0	$0
ROSHAN BHAKTA	DIRECTOR	5.00	Director	$0	$0	$0
KALPESH CHAUDHARI	DIRECTOR	5.00	Director	$0	$0	$0
JHERALDI JUAREZ	DIRECTOR	5.00	Director	$0	$0	$0
SHITAL PATEL	DIRECTOR	5.00	Director	$0	$0	$0
DIGVIJAYSINH JADEJA	DIRECTOR	5.00	Director	$0	$0	$0
PARIXIT BHAKTA	DIRECTOR	5.00	Director	$0	$0	$0
RAJU BHAGAT	DIRECTOR	5.00	Director	$0	$0	$0
RICARDO PERIGRINA	DIRECTOR	5.00	Director	$0	$0	$0
RAKESH PATEL	CHAIRMAN	5.00	Officer	$0	$0	$0
KRYSTOF KUCEWICZ	VICE CHAIR	5.00	Officer	$0	$0	$0
NAYANA PATEL	TREASURER	5.00	Officer	$0	$0	$0
AJIT DAVID	SECRETARY	5.00	Officer	$0	$0	$0
BRETT OETTING	PRESIDENT	2.00	Officer	$0	$0	$232,225

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	$2,617,663	$2,642,106	$1,385,883	$-24,443
2024	$631,876	$512,353	$1,531,708	$119,523
2023	$2,263,514	$1,390,734	$1,038,215	$872,780

CORPUS CHRISTI TOURISM PUBLIC IMPROVEMENT