2026-05-11T13:47:23-05:00 2025-06-30 473535842 DAVIS FARR LLP 18201 VON KARMAN AVE SUITE 1100 IRVINE CA 92612 990 2024-07-01 330368191 VISIT HUNTINGTON BEACH VISI 7149693492 155 5TH ST 111 HUNTINGTON BEACH CA 92648 JOHN URDI PRESIDENT & CEO 7149693492 2026-05-11 1 1 JENNIFER FARR P00743254 9494742020 2024 2025-03-06 01:10:19Z JOHN URDI 155 5TH ST 111 HUNTINGTON BEACH CA 92648 10278723 0 X WWW.SURFCITYUSA.COM X 1989 CA TO PROMOTE THE COMMON INTERESTS OF THE VISITOR - SERVING BUSINESSES IN HUNTINGTON BEACH, CA. 21 21 25 31 33522 0 0 0 6881492 10089227 58145 122800 52836 66696 6992473 10278723 0 0 0 0 2335121 2756285 0 0 0 4888530 5491118 7223651 8247403 -231178 2031320 8507713 10521046 2776952 2758965 5730761 7762081 X THE MISSION OF VISIT HUNTINGTON BEACH IS TO MARKET AND SELL HUNTINGTON BEACH'S SURF CITY USA BRAND EXPERIENCE AS THE PREFERRED QUINTESSENTIAL CALIFORNIA BEACH DESTINATION LEADING TO INCREASED VISITOR SPENDING AND ENHANCED QUALITY OF LIFE FOR RESIDENTS. 0 0 LEISURE: LEISURE DESTINATION MARKETING PROGRAMS DRIVE GROWTH OF TRAVEL CONSUMERS FROM TARGETED MARKETS ACROSS NORTH AMERICA AS WELL AS KEY INTERNATIONAL MARKETS. OUR BEDROCK FOUNDATION FOR MARKETING PROGRAMS IS LAID THROUGH INVESTMENT IN STRATEGIC BRAND RESEARCH AND PLANNING, VISITOR SEGMENTATION AND CONVERSION STUDIES, HOTEL AND VACATION RENTAL OCCUPANCY REPORTS AND ECONOMIC IMPACT STUDIES. THIS IS CRITICAL IN SUPPORTING OUR GOAL OF TARGETING AND CONVERTING VISITORS THAT ALIGN WITH THE SURF CITY USA BRAND AND TRAVEL PRODUCTS IN THE DESTINATION. VHB'S LEISURE MARKETING STRATEGIES, TACTICS AND SPENDING FOCUS ON PAID MEDIA PLANNING AND PLACEMENT IN KEY DOMESTIC AND INTERNATIONAL MARKETS, INCLUDING DIGITAL, PRINT, BROADCAST AND SOCIAL MEDIA ADVERTISING. OUR AD AGENCY WORKS WITH THE TEAM TO DEVELOP AND PERIODICALLY REFRESH THE BRAND CREATIVE PLATFORM, PLAN THE PAID MEDIA PROGRAM, EXECUTE ON PRODUCTION, AND REPORT RESULTS. LEISURE ALSO DEVELOPS VISUAL ASSETS THROUGH VIDEO, BROADCAST SPOT AND STILL PHOTOGRAPHY PRODUCTION, SUPPORTS MARKETING OF SPECIAL EVENTS, COLLATERAL AND BROCHURE CREATIVE DEVELOPMENT AND PRODUCTION, DISPLAYS AND BRANDED ITEMS FOR TRADE SHOWS AND SALES MISSIONS AND FAMILIARIZATION VISITS BY THE MEDIA AND TRAVEL TRADE. WEBSITE/SOCIAL MEDIA: VISIT HUNTINGTON BEACH'S WEBSITE, SURFCITYUSA.COM, SERVES AS THE DESTINATION'S OFFICIAL ONLINE PRESENCE FOR HUNTINGTON BEACH TOURISM. WITH FISCAL YEAR-TO-DATE TRAFFIC PEAKING AT 218,779 UNIQUE MONTHLY VISITORS, THE WEBSITE IS A KEY GLOBAL MARKETING TOOL FOR PROMOTING HUNTINGTON BEACH AS A PREMIERE LEISURE AND BUSINESS TRAVEL DESTINATION. ALL LEISURE, TRAVEL TRADE AND GROUP SALES CAMPAIGNS THAT DRIVE BRAND AWARENESS, INCREASE OVERNIGHT STAYS, AND STIMULATE THE LOCAL ECONOMY DIRECT TRAFFIC TO THE WEBSITE AS THE CORE/CENTRAL COMMUNICATION HUB. IN THIS CURRENT CYCLE OF 24/7 MEDIA CONSUMPTION, VISIT HUNTINGTON BEACH'S SOCIAL MEDIA CHANNELS COMPLEMENT THE WEBSITE BY ALLOWING THE ORGANIZATION TO POST MORE DYNAMIC CONTENT. OUR PAID SOCIAL MEDIA CAMPAIGNS ALLOW FOR CUSTOMIZED PHOTO AND VIDEO CONTENT THAT CAN BE HIGHLY TARGETED. OUR EVER-GROWING SOCIAL MEDIA COMMUNITY SERVES AS AN EXTENSION OF OUR BRAND AND AMPLIFIES THE DESTINATION'S ONLINE PRESENCE IN AN AUTHENTIC WAY THROUGH THE COMMUNITY'S OWN SOCIAL MEDIA POSTS. GROUP SALES: GROUP SALES FOR VISIT HUNTINGTON BEACH IS DEFINED AS CORPORATE, ASSOCIATION AND INCENTIVE MEETINGS/PROGRAMS THAT ARE CONTRACTED WITH OUR HOTELS WITHIN HUNTINGTON BEACH. VISIT HUNTINGTON BEACH ASSIGNS SALES MANAGERS (18% OF OUR STAFF) TO ATTEND TRADE SHOW CONFERENCES, INITIATE SALES CALL MISSIONS, CONDUCT SITE INSPECTIONS OF OUR HOTELS WITH MEETING PLANNERS AND ATTEND INDUSTRY SPECIFIC EVENTS THAT INCREASE THE EXPOSURE OF HUNTINGTON BEACH AS A MEETINGS DESTINATION. THE EFFORTS OF THE SALES DEPARTMENT INCLUDE TRAVEL TO DOMESTIC AND INTERNATIONAL DESTINATION TO PROMOTE AND SOLICIT MEETINGS/PROGRAMS TO BOOK IN HUNTINGTON BEACH. TRAVEL, TRADESHOWS, ADVERTISING AND MARKETING EFFORTS COMPRISE THIS BUDGET FOR VISIT HUNTINGTON BEACH. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 10 0 25 1 1 1 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 CA X THE ORGANIZATION 7149693492 155 5TH STREET STE 111 HUNTINGTON BEACH CA 926485171 JUSTIN SIMPSON CHAIR 3.00 X X 0 0 0 TODD SZILAGYI BOARD VICE CHAIR 1.00 X X 0 0 0 JANIS MANTINI SECRETARY 1.00 X X 0 0 0 SHEIK SATTAUR TREASURER 1.00 X X 0 0 0 JON BENSON EXECUTIVE COMMITTEE MEMBER 1.00 X 0 0 0 PAULETTE FISCHER EXECUTIVE COMMITTEE MEMBER 1.00 X 0 0 0 PAUL MADDISON EXECUTIVE COMMITTEE MEMBER 1.00 X 0 0 0 JENNIFER WILLIAMS EXECUTIVE COMMITTEE MEMBER 1.00 X 0 0 0 CHRISTOPHER DEGUZMAN BOARD MEMBER 1.00 X 0 0 0 BRETT BARNES BOARD MEMBER 1.00 X 0 0 0 MEG BERNARDO BOARD MEMBER 1.00 X 0 0 0 DEBBIE KILLEY BOARD MEMBER 1.00 X 0 0 0 DAWN MCCORMACK BOARD MEMBER 1.00 X 0 0 0 DEAN TORRENCE BOARD MEMBER 1.00 X 0 0 0 PETER TOWNEND BOARD MEMBER 1.00 X 0 0 0 VIPE DESAI BOARD MEMBER 1.00 X 0 0 0 MARISA UNVERT BOARD MEMBER 1.00 X 0 0 0 TIM MCGRATH BOARD MEMBER 1.00 X 0 0 0 DUKE DUFRESNE BOARD MEMBER 1.00 X 0 0 0 KRISTI MCKNIGHT BOARD MEMBER 1.00 X 0 0 0 BRIAN SMITH BOARD MEMBER 1.00 X 0 0 0 JOHN VILLA BOARD MEMBER 1.00 X 0 0 0 KELLY MILLER PRESIDENT AND CEO 40.00 X 288114 0 55664 OMARK HOLMES CHIEF MARKETING OFFICER 40.00 X 200832 0 27113 NICOLE LLIDO VP, ADMINISTRATION & COMMU 40.00 X 141470 0 19305 KIMBERLY DUNNEGAN DIRECTOR OF NATIONAL ACCOU 40.00 X 112750 0 28232 JOHN TODORA DIRECTOR OF NATIONAL ACCOU 40.00 X 125134 0 17727 MICHELLE DEVINE VP OF SALES 40.00 X 181645 0 29843 1049945 0 177884 6 0 1 0 ATKINS GROUP 9901 IH-10 WEST SUITE 800 SAN ANTONIO TX 78230 MARKETING AGENCY 666275 DIVVY 13707 S 200 W STE 100 DRAPER UT 84020 COMPANY CREDIT CARD 579223 5TH & PCH LLC PO BOX 840628 LOS ANGELES CA 90084 LANDLORD 348626 NOBLE STUDIOS 50 W LIBERTY STREET SUITE 800 RENO NV 89501 WEBSITE SEO/SEM 273350 BLUE SHIELD OF CALIFORNIA PO BOX 749415 LOS ANGELES CA 90074 COMPANY HEALTH INSURANCE PROVIDER 230625 5 BUSINESS IMPROVEMENT DISTRICT ASS 900099 10089227 10089227 10089227 122800 122800 MISCELLANEOUS REVENUE 900099 66696 33174 33522 66696 10278723 10122401 33522 122800 357604 1936312 135502 167692 159175 11177 75910 125475 2805072 343872 173645 490105 48246 377307 23006 TRADESHOWS 793274 RESEARCH 113886 REPAIRS AND MAINTENANCE 84515 OTHER 25628 8247403 250065 199526 4481159 6094105 1419516 2098666 149116 154697 1292459 596936 759257 695523 1419395 1249324 29205 29205 8507713 10521046 793291 936241 469395 455801 1514266 1366923 2776952 2758965 X 5730761 7762081 5730761 7762081 8507713 10521046 2031320 0 X X 0 1 X 1 0 91569 33428 58141 117802 67223 50579 1083088 496285 586803 695523 LEASE LIABILITY 1366923 1366923 X 10278723 0 10278723 0 10278723 8247403 0 8247403 0 8247403 PART X, LINE 2: VHB IS ORGANIZED AS A PRIVATE NOT-FOR-PROFIT ENTITY UNDER THE GENERAL NONPROFIT CORPORATION LAWS OF THE STATE OF CALIFORNIA. A DETERMINATION LETTER CONFIRMING VHB IS ORGANIZED AS A NOT-FOR-PROFIT ENTITY UNDER THE GENERAL NONPROFIT CORPORATION LAWS OF THE STATE OF CALIFORNIA HAS BEEN OBTAINED. A DETERMINATION LETTER CONFIRMING EXEMPTION FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE HAS BEEN OBTAINED. REVENUES SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT) WERE INSIGNIFICANT AND WOULD NOT GENERATE A TAX LIABILITY. IN ADDITION, AN EXEMPTION FROM CALIFORNIA FRANCHISE TAXES HAS BEEN OBTAINED. THEREFORE, NO PROVISION HAS BEEN MADE FOR FEDERAL INCOME TAXES OR STATE FRANCHISE TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. NORTH AMERICA (INCL CANADA AND MEXICO/NOT US) 3 TRAVEL AGENT TRAININGS, TRADESHOWS, AND MARKETING CAMPAIGNS; AND GROUP SALES TRADESHOW ATTENDANCE IN-MARKET CANADIAN TRAVEL TRADE REPRESENTATION FOR HUNTINGTON BEACH FOR SALES CALLS, WEBINARS, QUARTERLY TRAVEL AGENT TRAINING TRADESHOWS; MANAGE ONE MARKETING CAMPAIGN; REPRESENT HB ON FAMILIARIZATION TOURS/ GROUP SALES TRADESHOW ATTENDANCE, MEETINGS AND SALES-RELATED EVENTS WITH MEETING PLANNERS. 60000 EUROPE (INCL ICELAND AND GREENLAND 1 2 TRAVEL TRADE REPRESENTATION FOR TRAVEL AGENT TRAININGS, TRADESHOWS, AND MARKETING CAMPAIGNS; AND FOR IN-MARKET UK AND IRELAND TRAVEL TRADE REPRESENTATION FOR HUNTINGTON BEACH FOR SALES CALLS, WEBINARS, QUARTERLY TRAVEL AGENT TRAINING TRADESHOWS; MANAGE ONE MARKETING CAMPAIGN; REPRESENT HB ON FAMILIARIZATION TOURS / IN-MARKET PR REPRESENTATION AND CONSUMER MAGAZINE ACTIVATION 64000 EAST ASIA & THE PACIFIC CO-OP PARTNERSHIPS WITH VISIT CALIFORNIA IN THE AUSTRALIA AND NEW ZEALAND MARKETS PARTICIPATION IN MARKETING CO-OP CAMPAIGNS WITH THE AUSTRALIAN AND NEW ZEALAND TRAVEL TRADE TO BOOST BOOKINGS THROUGH TOUR OPERATORS. 7250 1 5 0 0 1 5 131250 0 131250 0 0 0 0 0 0 X X 1 0 0 KELLY MILLER PRESIDENT AND CEO 225210 0 62904 0 0 0 21454 0 34210 0 343778 0 0 0 OMARK HOLMES CHIEF MARKETING OFFICER 173675 0 27157 0 0 0 15214 0 11899 0 227945 0 0 0 MICHELLE DEVINE VP OF SALES 154257 0 27388 0 0 0 14511 0 15332 0 211488 0 0 0 NICOLE LLIDO VP, ADMINISTRATION & COMMU 122022 0 19448 0 0 0 10954 0 8351 0 160775 0 0 0 MEG BERNARDO VHB BOARD MEMBER 110000 VHB SUPPORTED THE US OPEN OF SURFING. ONE OF THE EMPLOYEES OF WSL IS A MEMBER OF THE BOARD OF DIRECTORS FOR VHB. THE TOTAL AMOUNT PAID DURING THE YEAR ENDED JUNE 30, 2025, WAS $110,000 FOR A MARKETING SPONSORSHIP PACKAGE AND WELCOME CENTER EXPENSES. 0 PETER TOWNEND VHB BOARD MEMBER 20000 VHB HAS A STRATEGIC PARTNERSHIP WITH HBISM. THE EXECUTIVE DIRECTOR OF HBISM IS ALSO A MEMBER OF THE BOARD OF DIRECTORS FOR VHB. THE TOTAL AMOUNT PAID DURING THE YEAR ENDED JUNE 30, 2025, WAS $20,000. 0 VIPE DESAI VHB BOARD MEMBER 10000 VHB SPONSORED THE ANNUAL WATERMAN'S BALL. THE EXECUTIVE DIRECTOR OF SIMA IS ALSO A MEMBER OF BOARD OF DIRECTORS FOR VHB. THE TOTAL AMOUNT PAID DURING THE YEAR ENDED JUNE 30, 2025, WAS $10,000. 0 PAUL MADDISON VHB BOARD MEMBER 94000 VHB HAS A STRATEGIC PARTNERSHIP WITH THE PASEA HOTEL. THE GENERAL MANAGER IS ALSO A MEMBER OF THE BOARD OF DIRECTORS FOR VHB. THE TOTAL AMOUNT SPENT FOR GROUP BOOKED ROOM INCENTIVES DURING THE YEAR ENDED JUNE 30, 2025 WAS APPROXIMATELY $94,000. 0 JUSTIN SIMPSON VHB BOARD MEMBER 37000 VHB HAS A STRATEGIC PARTNERSHIP WITH KIMPTON SHOREBREAK RESORT. THE GENERAL MANAGER IS ALSO THE BOARD CHAIR FOR VHB. THE TOTAL AMOUNT SPENT ON GROUP BOOKED ROOM INCENTIVES, FAMILIARIZATION TOUR MEALS AND LODGING, AND A SENIOR STAFF RETREAT ROOM RENTAL DURING THE YEAR ENDED JUNE 30, 2025 WAS APPROXIMATELY $37,000. 0 PAULETTE FISCHER VHB BOARD MEMBER 124000 VHB HAS A STRATEGIC PARTNERSHIP WITH WATERFRONT RESORT HOTEL. THE GENERAL MANAGER IS ALSO A MEMBER OF THE BOARD OF DIRECTORS FOR VHB. THE TOTAL AMOUNT SPENT FOR GROUP BOOKED ROOM INCENTIVES DURING THE YEAR ENDED JUNE 30, 2025 WAS APPROXIMATELY $124,000. 0 JON BENSON VHB BOARD MEMBER 203000 VHB HAS A STRATEGIC PARTNERSHIP WITH THE HYATT REGENCY HUNTINGTON BEACH. THE GENERAL MANAGER IS ALSO A MEMBER OF THE BOARD OF DIRECTORS FOR VHB. THE TOTAL AMOUNT SPENT FOR GROUP BOOKED ROOM INCENTIVES, FAMILIARIZATION TOUR, AND THE HB TOURISM SUMMIT DURING THE YEAR ENDED JUNE 30, 2025 WAS APPROXIMATELY $203,000. 0 TODD SZILAGYI BOARD VICE-CHAIR 23000 VHB HAS A STRATEGIC PARTNERSHIP WITH BEST-VIP CHAUFFEURED. THE CHIEF OPERATING OFFICER IS ALSO THE BOARD VICE CHAIR FOR VHB. THE TOTAL AMOUNT SPENT FOR FAMILIARIZATION TOUR AND SITE VISIT TRANSPORTATION DURING THE YEAR ENDED JUNE 30, 2025 WAS APPROXIMATELY $23,000. 0 FORM 990, PART VI, SECTION B, LINE 11B VISIT HUNTINGTON BEACH (VHB) CONTRACTS AN OUTSIDE TAX FIRM TO PREPARE ITS 990 EACH YEAR. THE SAME FIRM HAS BEEN USED FOR AT LEAST 8 YEARS. VHB STAFF, INCLUDING THE VP OF ADMINISTRATION & COMMUNITY ENGAGEMENT AND THE EXECUTIVE OPERATIONS ASSISTANT WORK WITH VHB'S CPA TO COMPILE THE INFORMATION NECESSARY TO COMPLETE THE 990. THE DRAFT 990 IS REVIEWED BY VHB'S PRESIDENT & CEO, THE VP OF ADMINISTRATION & COMMUNITY ENGAGEMENT, AND VHB'S OUTSIDE CPA TO CONFIRM ALL INFORMATION IS CORRECT. THE TAX PREPARER PROVIDES THE FINAL 990 AND STAFF FILE ON BEHALF OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 12C THE BUREAU'S BOARD MEMBERS, INCLUDING ITS PRESIDENT/CEO, ARE REQUIRED TO FILE A FORM 700-STATEMENT OF ECONOMIC INTERESTS WITH THE CITY OF HUNTINGTON BEACH ON AN ANNUAL BASIS. CONFLICTS OF INTEREST OUR EMPLOYEES ARE EXPECTED TO DEVOTE THEIR BEST EFFORTS AND ATTENTION TO THE FULL-TIME PERFORMANCE OF THEIR JOBS. A CONFLICT OF INTEREST EXISTS WHEN THE EMPLOYEE'S LOYALTIES OR ACTIONS ARE DIVIDED BETWEEN THE BUREAU'S INTERESTS AND THOSE OF ANOTHER, SUCH AS A COMPETITOR, SUPPLIER, OR CLIENT. BOTH THE FACT AND THE APPEARANCE OF A CONFLICT OF INTEREST SHOULD BE AVOIDED. EMPLOYEES ARE EXPECTED TO USE GOOD JUDGMENT, TO ADHERE TO HIGH ETHICAL STANDARDS, AND TO AVOID SITUATIONS THAT CREATE AN ACTUAL OR POTENTIAL CONFLICT BETWEEN THE EMPLOYEE'S PERSONAL INTERESTS AND THE INTERESTS OF THE BUREAU. EMPLOYEES UNSURE AS TO WHETHER A CERTAIN TRANSACTION, ACTIVITY, OR RELATIONSHIP CONSTITUTES A CONFLICT OF INTEREST SHOULD DISCUSS IT WITH THE PRESIDENT OF THE BUREAU WHO WILL MAKE THE ULTIMATE DECISION. EMPLOYEES MAY ENGAGE IN OR HAVE OUTSIDE BUSINESS OR PERSONAL INTEREST OR ACTIVITIES THAT DO NOT CONSTITUTE OR HAVE THE POTENTIAL OF CREATING A CONFLICT OF INTEREST WITH THEIR EMPLOYMENT BY THE BUREAU. THE BUREAU REQUIRES THAT THESE ACTIVITIES OR INTERESTS DO NOT ADVERSELY AFFECT AN EMPLOYEE'S CAPACITY TO PERFORM HIS/HER FUNCTIONS OR RESULT IN CONFLICTING LOYALTIES. WHILE IT IS NOT FEASIBLE TO DESCRIBE ALL POSSIBLE CONFLICTS OF INTEREST THAT COULD DEVELOP, SOME OF THE MORE COMMON CONFLICTS THAT EMPLOYEES SHOULD AVOID INCLUDE THE FOLLOWING: - ACCEPTING PERSONAL GIFTS OR ENTERTAINMENT FROM COMPETITORS, GUESTS, SUPPLIERS, OR POTENTIAL SUPPLIERS (SEE POLICY "GIFTS"); - WORKING FOR A COMPETITOR, SUPPLIER, OR CUSTOMER; - ENGAGING IN SELF-EMPLOYMENT IN COMPETITION WITH THE BUREAU; - USING PROPRIETARY OR CONFIDENTIAL COMPANY INFORMATION FOR PERSONAL GAIN OR TO THE BUREAU'S DETRIMENT; - HAVING A DIRECT OR INDIRECT FINANCIAL INTEREST IN OR RELATIONSHIP WITH A COMPETITOR, CUSTOMER, OR SUPPLIER, EXCEPT THAT OWNERSHIP OF LESS THAN 1% OF THE PUBLICLY TRADED STOCK OF A CORPORATION WILL NOT BE CONSIDERED A CONFLICT; - USING COMPANY PROPERTY OR LABOR FOR PERSONAL USE; - ACQUIRING ANY INTEREST IN PROPERTY OR ASSETS OF ANY KIND FOR THE PURPOSE OF SELLING OR LEASING IT TO THE BUREAU; - COMMITTING THE COMPANY TO GIVE ITS FINANCIAL OR OTHER SUPPORT TO ANY OUTSIDE ACTIVITY OR ORGANIZATION; OR - DEVELOPING A PERSONAL RELATIONSHIP WITH A SUBORDINATE EMPLOYEE OF THE COMPANY OR WITH AN EMPLOYEE OF A COMPETITOR, SUPPLIER, OR GUEST THAT MIGHT INTERFERE WITH THE EXERCISE OF IMPARTIAL JUDGMENT IN DECISIONS AFFECTING THE BUREAU OR ANY EMPLOYEES OF THE BUREAU. IF AN EMPLOYEE OR SOMEONE WITH WHOM AN EMPLOYEE HAS A CLOSE RELATIONSHIP (E.G., A FAMILY MEMBER OR CLOSE COMPANION) HAS A FINANCIAL OR EMPLOYMENT RELATIONSHIP WITH A COMPETITOR, GUEST, SUPPLIER, OR POTENTIAL SUPPLIER, THE EMPLOYEE MUST DISCLOSE THIS FACT IN WRITING TO THE PRESIDENT. EMPLOYEES SHOULD BE AWARE THAT IF THEY ENTER INTO A PERSONAL RELATIONSHIP WITH A SUBORDINATE EMPLOYEE OR WITH AN EMPLOYEE OF A COMPETITOR, SUPPLIER, OR GUEST, A CONFLICT OF INTEREST MAY EXIST, WHICH REQUIRES FULL DISCLOSURE TO THE BUREAU. FAILURE TO ADHERE TO THIS GUIDELINE, INCLUDING FAILURE TO DISCLOSE ANY CONFLICTS OR TO SEEK AN EXCEPTION, MAY RESULT IN DISCIPLINE, UP TO AND INCLUDING TERMINATION OF EMPLOYMENT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE NEGOTIATES AND APPROVES THE EMPLOYMENT CONTRACT FOR THE BUREAU'S PRESIDENT/CEO BASED ON COMPARABILITY DATA. THE COMPENSATION FOR ALL POSITIONS WITHIN THE BUREAU WERE BENCHMARKED AND ADJUSTED TO BE IN LINE WITH THE RESULTS OF AN ANNUAL INDEPENDENT COMPENSATION STUDY OF CALIFORNIA VISITOR BUREAUS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE MONTHLY FINANCIAL STATEMENTS ARE ALSO AVAILABLE DURING THE BOARD MEETINGS, WHICH ARE OPEN TO THE PUBLIC. FORM 990 PART XII LINE 2C THE AUDIT OVERSIGHT PROCESS HASN'T CHANGED SINCE THE PRIOR YEAR.