SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

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Form 990 or 990-EZ or to provide any additional information.
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OMB No. 1545-0047
2022
Open to Public
Inspection
Name of the organization
FLORIDA TOURISM INDUSTRY MARKETING
CORP INC
Employer identification number

59-3359293
Return Reference Explanation
FORM 990, PART I, LINE 8 IN ADDITION TO OUR FISCAL YEAR 2021-2022 STATE APPROPRIATION OF $50 MILLION, VISIT FLORIDA RECEIVED ADDITIONAL FUNDING THROUGH THE FEDERAL CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES) AND THE AMERICAN RESCUE PLAN ACT (ARPA). THE FLORIDA LEGISLATURE ALSO APPROPRIATED $25 MILLION FROM THE GENERAL REVENUE FUND TO CONDUCT ACTIVITIES THAT SUPPORT AND FUND FLORIDA'S TOURISM INDUSTRY AND ITS RECOVERY FROM COVID-19 THROUGH PROMOTION AND MARKETING ACTIVITIES, SERVICES, FUNCTIONS AND PROGRAMS. THIS SPECIFIC APPROPRIATION ORIGINATED FROM THE ARPA FUNDS. THE STATE RELEASED $20,435,092 OF THIS APPROPRIATION DURING FISCAL YEAR ENDING JUNE 30, 2022, AND THE ENTIRE AMOUNT WAS EXPENDED. THE REMAINING $4,564,908 WAS RELEASED AND EXPENDED DURING FISCAL YEAR ENDING JUNE 30, 2023. VISIT FLORIDA APPLIED FOR AND WAS AWARDED A $5 MILLION CARES FEDERAL GRANT FROM THE ECONOMIC DEVELOPMENT ADMINISTRATION (EDA). THIS GRANT WAS USED TO FUND DESTINATION MARKETING ORGANIZATIONS (DMO) COOPERATIVE OPPORTUNITIES IN DIRECT RESPONSE TO COVID-19. THE $5 MILLION GRANT REQUIRED A DOLLAR FOR DOLLAR MATCH WITH VISIT FLORIDA FUNDS AND DMO FUNDS. VISIT FLORIDA WAS ALSO AWARDED A $14,851,410 ARPA ACT RECOVERY ASSISTANCE FEDERAL NON-MATCHING GRANT FROM THE EDA IN JANUARY 2022 TO HELP SUPPORT THE RECOVERY OF FLORIDA'S TOURISM ECONOMY FROM THE COVID-19 PANDEMIC. NO EXPENSES WERE INCURRED DURING FISCAL YEAR 2021-2022. $12,446,313 WAS SPENT IN 2022-2023 AND THE REMAINING $2,405,097 WILL BE SPENT BY THE END OF 2023-2024. THE FUNDS WILL CONTINUE FLORIDA'S PANDEMIC REBOUND EFFORTS BY KEEPING FLORIDA WITHIN TRAVELER'S TOP CONSIDERATION SET AND PROTECTING FLORIDA'S COMPETITIVE POSITION.
FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS COMPOSED OF 31 TOURISM-RELATED SEATS APPOINTED BY ENTERPRISE FLORIDA, INC. IN CONJUNCTION WITH THE STATE OF FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY.
FORM 990, PART VI, SECTION A, LINE 7B VISIT FLORIDA WAS CREATED BY FLORIDA STATUTE 288.1226, AS A DIRECT-SUPPORT ORGANIZATION OF ENTERPRISE FLORIDA, INC. (EFI) AND IMPLEMENTS THE POLICIES, GOALS, AND LONG RANGE MARKETING PLAN.
FORM 990, PART VI, SECTION B, LINE 11B AFTER REVIEW BY VISIT FLORIDA'S ACCOUNTING MANAGEMENT, AS PREPARED BY AN INDEPENDENT CPA, A COPY OF THE 990 AND ACCOMPANYING SCHEDULES ARE GIVEN TO THE AUDIT COMMITTEE FOR REVIEW. AFTER THE AUDIT COMMITTEE'S REVIEW, THE FORM 990 AND ACCOMPANYING SCHEDULES ARE FILED BY THE INDEPENDENT CPA WITH THE INTERNAL REVENUE SERVICE CENTER AND THE COMMITTEE REPORTS THEIR REVIEW TO VISIT FLORIDA'S BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION B, LINE 12C VISIT FLORIDA, AS A PART OF ITS CORPORATE CODE OF ETHICS AND STANDARDS OF CONDUCT POLICY, HAS A CONFLICT OF INTEREST STATEMENT. EACH YEAR, THE BOARD MEMBERS REAFFIRM VIA ELECTRONIC SIGNATURE THEIR OBLIGATIONS UNDER THE ADOPTED POLICY. IN ADDITION, THE BOARD MEMBERS ANNUALLY DISCLOSE ANY TRANSACTIONS ON BEHALF OF THEMSELVES, THEIR PRINCIPAL, THEIR PRINCIPAL'S CORPORATE PARENT(S), OR THEIR PRINCIPAL'S SUBSIDIARIES RELATED TO VISIT FLORIDA'S PRIVATE MATCH REQUIREMENT. ADDITIONALLY, VISIT FLORIDA'S POLICIES AND PROCEDURES RELATED TO SELECTING A GOODS OR SERVICE PROVIDER OUTLINES THAT ALL TRANSACTIONS SHOULD BE CONDUCTED AT ARM'S LENGTH AND MANAGEMENT SHOULD REFRAIN FROM CONTRACTING OR ACQUIRING GOODS OR SERVICES FROM FAMILY MEMBERS THAT WILL REPORT OR SEE DIRECTION DIRECTLY FROM THEM OR A DEPARTMENT MANAGER THAT REPORTS TO THEM.
FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPROVED THE PRESIDENT AND CEO'S SALARY, NOTING THEY WOULD SERVE WITHOUT A CONTRACT. EACH YEAR, THE NOMINATING COMMITTEE WILL PERFORM A REVIEW OF THE PRESIDENT AND CEO'S PERFORMANCE AND REPORT TO THE BOARD OF DIRECTORS ANY RECOMMENDATIONS. COMPENSATION FOR ALL OTHER EMPLOYEES, INCLUDING OTHER OFFICERS AND KEY EMPLOYEES, IS SET BY THE PRESIDENT AND CEO UTILIZING COMPARABILITY DATA AND SALARY RANGE GUIDANCE PROVIDED BY AN INDEPENDENT THIRD PARTY WHICH IS UPDATED EVERY THREE YEARS. ALL MEMBERS OF THE BOARD OF DIRECTORS SERVE WITHOUT COMPENSATION.
FORM 990, PART VI, SECTION C, LINE 19 VISIT FLORIDA MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND OTHER FINANCIAL AND AUDITING REPORTS AVAILABLE TO THE PUBLIC DURING THE TAX YEAR UPON REQUEST. ADDITIONALLY, MANY OF THE DOCUMENTS ARE MADE PUBLIC THROUGH PUBLICLY NOTICED AND CONDUCTED MEETINGS OF THE BOARD OF DIRECTORS AT WHICH THESE ITEMS ARE DISCUSSED. MANY OF THESE DOCUMENTS ARE ALSO POSTED ON THE ORGANIZATION'S WEBSITE, VISITFLORIDA.ORG, WHICH CONTAINS INSTRUCTIONS ON HOW TO REQUEST AND RECEIVE ANY OTHER ITEM OF INTEREST MADE PUBLIC BY OPERATION OF FLORIDA'S OPEN RECORDS LAWS.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2022


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