2024-05-10T14:56:08-05:00 2023-06-30 221478099 COHNREZNICK LLP 14 SYLVAN WAY PARSIPPANY NJ 070543801 990 2022-07-01 591881976 BAHAMA FAMILY ISLAND PROMOTION BOARD BAHA 8006884752 1200 SOUTH PINE ISLAND ROAD PLANTATION FL 33324 MOLLY MCINTOSH TREASURER 8006884752 2024-05-09 1 MOLLY MCINTOSH 999009999 0 LORI ROTHE YOKOBOSKY CPA P01273422 9732283500 2024-05-07 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z EMMANUEL ALEXIOU 1200 SOUTH PINE ISLAND ROAD PLANTATION FL 33324 2370798 0 X WWW.MYOUTISLANDS.COM X 1978 FL THE ONGOING MARKETING AND PROMOTION OF THE OUT ISLANDS ACROSS THE ISLANDS OF THE BAHAMAS. 21 20 0 52 0 0 2326589 2362766 0 0 4982 32 13073 8000 2344644 2370798 34621 38460 0 0 310029 331426 0 0 0 1769739 2311532 2114389 2681418 230255 -310620 1335983 1165045 270493 410175 1065490 754870 X THE ONGOING MARKETING AND PROMOTION OF THE DESTINATION OF THE OUT ISLANDS AND THE BAHAMAS AND THE BAHAMAS OUT ISLAND PROMOTION BOARD 43 MEMBER HOTELS - THIS IS ABOUT 85% OF THE TIME AND MONIES SPENT THROUGH THE ORGANIZATION.A. LEVYS ARE COLLECTED BY MEMBER HOTELS AND POOLED WITH MINISTRY OF TOURISM SUBSIDIES FOR THE MARKETING AND PROMOTION OF: 1. THE INDIVIDUAL ISLANDS (ANDROS, ABACO, EXUMA, ELEUTHERA, BIMINI, CAT ISLAND, ACKLINS, LONG ISLAND) AND THE HOTEL MEMBERS ON THOSE ISLANDS THROUGH USING THE FOLLOWING MEDIUMS: A. INTERNETB. PRINT ADVERTISINGC. TRADE SHOWSD. DIRECT MAIL, TELEVISION/RADIOF. AND OTHER RELEVANT MEDIUMS AND PARTNERSHIPS. 0 0 THE GOAL OF THIS ORGANIZATION IS TO INCREASE OCCUPANCY AND AVERAGE DAILY RATE OF ITS MEMBER HOTELS. DURING THIS TOUGH ECONOMIC ENVIRONMENT THE ORGANIZATION SUCCESSFULLY REMAINED SOLVENT AND SUCCESSFULLY PROMOTED THE BAHAMAS OUT ISLANDS WHILE TOURISM SIGNIFICANTLY DECLINED WORLDWIDE. 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 BF 0 0 1 1 0 0 0 X 21 20 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 FL X X CHERYL BASTIAN 9547408740 16 MARKET STREET PO BOX CB-109565 NASSAU BF ARNETTE CHISHOLM DIRECTOR 1.00 X 0 0 0 BEVERLEY BRITTAIN DIRECTOR 1.00 X 0 0 0 CARL ROLLE VICE PRESIDENT 1.00 X X 0 0 0 CHERYL BASTIAN PAST PRESIDENT 3.00 X X 0 0 0 DAVID HOCHER DIRECTOR 1.00 X 0 0 0 DEBRA JENKINS DIRECTOR UNTIL 12/2022 1.00 X 0 0 0 DR LARRY CARROL PAST-PRESIDENT 1.00 X X 0 0 0 ERIC CAREY DIRECTOR UNTIL 12/2022 1.00 X 0 0 0 GREGOR EBLE DIRECTOR UNTIL 12/2022 1.00 X 0 0 0 JEFF BIRCH DIRECTOR 1.00 X 0 0 0 JEREMY MUTTON DIRECTOR 1.00 X 0 0 0 JUSTIN DUBOWITZ DIRECTOR 1.00 X 0 0 0 KIRKLAND PRATT DIRECTOR 1.00 X 0 0 0 LESLIE KENNEDY DIRECTOR 1.00 X 0 0 0 MOLLY MCINTOSH TREASURER 1.00 X X 0 0 0 NATHANIEL ADDERLEY DIRECTOR 1.00 X 0 0 0 NOELLE NICHOLLS DIRECTOR UNTIL 12/2022 1.00 X 0 0 0 PHILIP LIGHTBOURN DIRECTOR UNTIL 12/2022 1.00 X 0 0 0 SARAH SWAINSON DIRECTOR 1.00 X 0 0 0 SHAVONNE DARVILLE CHIEF FINANCIAL OFFICER 20.00 X X 79002 0 0 TONY HANNA DIRECTOR 1.00 X 0 0 0 EMMANUEL ALEXIOU PRESIDENT AS OF 1/2023 3.00 X X 0 0 0 VICTOR KARAVIAS DIRECTOR AS OF 1/2023 1.00 X 0 0 0 LEE PROSENJAK DIRECTOR AS OF 1/2023 1.00 X 0 0 0 TOM HILL DIRECTOR AS OF 1/2023 1.00 X 0 0 0 LAKESHIA ANDERSON DIRECTOR AS OF 1/2023 1.00 X 0 0 0 KERRY FOUNTAIN EXECUTIVE DIRECTOR 40.00 X 98753 0 0 177755 0 0 0 0 0 0 0 1987766 375000 2362766 32 32 BAD DEBT RECOVERY 900099 8000 8000 8000 2370798 8000 0 32 38460 177755 111635 6698 35338 23700 35340 2052411 40493 15499 25229 69209 2358 19880 COMMUNICATION 14269 REPAIR AND MAINTENANCE 11185 JANITORIAL 1400 TAXES & LISCENSE 159 400 2681418 786691 417818 45000 295031 293535 287317 13616 10366 134492 108678 177454 132819 60249 44635 2400 1200 1335983 1165045 221085 389769 49408 20406 270493 410175 X 0 0 0 0 1065490 754870 1065490 754870 1335983 1165045 -310620 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 133930 94609 39321 43524 38210 5314 44635 CURRENT LEASE LIABILITY 20406 20406 X 2362798 0 2362798 8000 8000 2370798 2673418 0 2673418 8000 8000 2681418 PART X, LINE 2: THE VALUE ADDED TAX (VAT) RATE IS 10% IN THE COMMONWEALTH OF THE BAHAMAS. THE BOARD IS A VAT REGISTRANT AND ACCOUNTS FOR ALL THE INPUT AND OUTPUT VAT IN ACCORDANCE WITH THE ACT. THE BOARD REMITTED THE APPLICABLE VAT TO THE GOVERNMENT DURING THE YEAR. BAHAMA FAMILY ISLANDS PROMOTION BOARD, INC. IS REGISTERED IN THE UNITED STATES AS AN EXEMPT ORGANIZATION UNDER SECTION 501 (C)(6) OF THE UNITED STATES INTERNAL REVENUE CODE. FURTHER, NO INCOME, CORPORATION OR CAPITAL GAINS TAXES ARE LEVIED ON COMPANIES IN THE BAHAMAS. ACCORDINGLY, NO PROVISION FOR SUCH TAXES IS INCLUDED IN THESE COMBINED FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: BAD DEBTS RECOVERY 8,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBTS RECOVERY 8,000. 0 BAHAMAS 1 15 PROGRAM SERVICES. MARKETING AND PROMOTION OF THE BAHAMAS 2681018 1 15 0 0 1 15 2681018 0 2681018 NASSAU, BAHAMAS ENDOWMENT EDUCATION FUND CONTRIBUTION 27500 0 FMV 1 0 0 0 0 0 0 PART III ACCOUNTING METHOD: FORM 990, PART VI, SECTION A, LINE 6 THIS ORGANIZATION IS COMPRISED OF 52 MEMBER HOTELS THAT PROVIDE HOTEL LEVIES. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS HAVE THE POWER TO ELECT MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B GOVERNANCE DECISIONS OF THE ORGANIZATION ARE SUBJECT TO THE APPROVAL OF ITS MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS PROVIDED TO THE BOARD FOR REVIEW BEFORE ANY FILINGS ARE MADE. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS ARE REQUIRED TO REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A POLICY AND PROCEDURE FOR EXECUTIVE DIRECTOR COMPENSATION IS A COMPARISON TO TOURISM INDUSTRY ORGANIZATION SIMILAR COUNTERPARTS, ALONG WITH RELEVANT QUALIFICATIONS, EXPERIENCE AND CURRENT BUDGET ALLOWANCES. FORM 990, PART VI, SECTION C, LINE 19 THE DOCUMENTS ARE NOT MADE PUBLIC BUT ARE AVAILABLE UPON REQUEST.