2026-07-14T14:34:14-05:00 2025-09-30 135565207 KPMG LLP 8350 BROAD STREET SUITE 900 MCLEAN VA 22102 990 2024-10-01 364681868 THE CORPORATION FOR TRAVEL PROMOTION CORP 2025362084 1875 K STREET NW 450 WASHINGTON DC 20006 DONALD F RICHARDSON CHIEF FINANCIAL OFFICER 2025362084 2026-07-10 1 0 BRIAN KEARNS P02061479 7032868000 2026-07-14 2024 2025-03-06 01:10:19Z X BRAND USA FRED DIXON 1875 K STREET NW 450 WASHINGTON DC 20006 483201122 0 X WWW.THEBRANDUSA.COM X 2010 DC SEE SCHEDULE O 6 6 78 11 0 0 213608422 129356888 1119724 1623230 9813881 8872314 4250 3514 224546277 139855946 30500 6000 0 0 16070944 20361334 0 0 0 238697428 162996518 254798872 183363852 -30252595 -43507906 392563060 293550803 45175021 17180014 347388039 276370789 X SEE SCHEDULE O 0 0 SEE SCHEDULE O SEE SCHEDULE O SEE SCHEDULE O 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 55 0 1 78 1 0 0 0 0 1 1 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 1 1 1 0 0 X DONALD F RICHARDSON CHIEF FINANCIAL OFFICER 2025362084 1875 K STREET NW SUITE 450 WASHINGTON DC 20006 TODD DAVIDSON DIRECTOR 1.00 0.00 X 0 0 0 MIKE MANGEOT DIRECTOR 1.00 0.00 X 0 0 0 HARI NAIR DIRECTOR 1.00 0.00 X 0 0 0 DANNY HUGHES DIRECTOR 1.00 0.00 X 0 0 0 DONALD MOORE DIRECTOR (UNTIL 12/24) 1.00 0.00 X 0 0 0 MARK HOPLAMAZIAN DIRECTOR (UNTIL 12/24) 1.00 0.00 X 0 0 0 STEPHANIE YOUNG DIRECTOR (UNTIL 01/26) 1.00 0.00 X 0 0 0 ELLIOTT FERGUSON CHAIR (UNTIL 04/25) 4.00 0.00 X X 0 0 0 LAUREN BAILEY VICE CHAIR (UNTIL 04/25) 1.00 0.00 X X 0 0 0 ALLEN ORR SECRETARY (UNTIL 04/25) 1.00 0.00 X X 0 0 0 KRISTEN ESPOSITO TREASURER (UNTIL 04/25) 1.00 0.00 X X 0 0 0 TIM MAPES DIRECTOR (UNTIL 04/25) 1.00 0.00 X X 0 0 0 GUS ANTORCHA DIRECTOR (UNTIL 12/25) 1.00 0.00 X X 0 0 0 FRED DIXON CEO & PRESIDENT 40.00 0.00 X 556166 0 6871 DONALD F RICHARDSON CHIEF FINANCIAL OFFICER 40.00 0.00 X 567318 0 41427 AARON WODINSCHWARTZ CHIEF CORPORATE AFFAIRS OFFICER 40.00 0.00 X 463347 0 26362 JOHN O CONTE SVP, GENERAL COUNSEL 40.00 0.00 X 384470 0 44046 BRIAN WATKINS VP, TECHNOLOGY 40.00 0.00 X 303679 0 35927 MING SUEY NEWCOMB VP, FINANCE & ACCOUNTING 40.00 0.00 X 300627 0 23304 CASSADY BAILEY VP, PARTNER ENGAGEMENT & MARKETING 40.00 0.00 X 285308 0 18474 MARK LAPIDUS VP, CONTENT & MARKETING TECHNOLOGY 40.00 0.00 X 280436 0 41142 CHRISTOPHER L THOMPSON CEO & PRESIDENT (UNTIL 09/24) 40.00 0.00 X 885295 0 22984 STACI MELLMAN CHIEF MKTG OFFICER (UNTIL 08/24) 40.00 0.00 X 300783 0 13097 4327429 0 273634 41 1 1 0 R&R PARTNERS INC 900 S PAVILION CENTER DR SUITE 100 LAS VEGAS NV 89144 MEDIA PLAN & BUYING 55500959 MILES PARTNERSHIP LLLP 6751 PROFESSIONAL PARKWAY W SUITE SARASOTA FL 34240 MEDIA PLAN & BUYING 23178365 ARIADNA LLC 703 WATERFORD WAY SUITE 920 MIAMI FL 33126 MEDIA PLAN & BUYING 10597072 MMGY GLOBAL LTD 7309 W 80TH ST SUITE 400 OVERLAND PARK KS 66204 IN-MARKET REPRESENTATION EUROPE 9697144 HYGROUP INC 663 S KING ST SEATTLE WA 98104 DIGITAL FULL SERVICE AGENCY 5825217 86 43943600 85413288 129356888 PROGRAM REVENUE 900099 1477760 1477760 SPONSORSHIP REVENUE 900099 145470 145470 1623230 7124628 7124628 149376 145862 3514 3514 3514 344947000 343199314 1747686 1747686 1747686 139855946 1623230 0 8875828 6000 2146962 15032221 433646 1656787 1091718 570903 320524 174451 144835315 329806 2050167 1079727 1585633 6325776 1808093 133163 RESEARCH 2466952 BAD DEBT EXPENSE 1131162 COMMUNICATIONS 184846 183363852 61788436 147388342 1218659 496671 30243137 3582042 99055659 45314130 8374001 5398028 4122205 3890112 715888 232093 182938576 83106828 6605649 7562223 1623055 470446 392563060 293550803 43150230 16693702 342342 218483 1682449 267829 45175021 17180014 X 302137666 270480556 45250373 5890233 347388039 276370789 392563060 293550803 -43507906 -848250 -26661094 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 1553378 1526101 27277 607171 468653 138518 1961656 1895358 66298 232093 OPERATING LEASE LIABILITY 267829 267829 X 156121405 -848250 16967847 145862 16265459 139855946 0 139855946 227138655 43628941 145862 43774803 183363852 0 183363852 PART X, LINE 2: CTP IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE (THE CODE) EXCEPT FOR TAXES ON UNRELATED BUSINESS INCOME. CONTRIBUTIONS TO CTP ARE NOT TAX DEDUCTIBLE BY DONORS UNDER SECTION 170(C)(2) OF THE CODE. CTP'S ACCOUNTING POLICY FOR EVALUATING UNCERTAIN TAX POSITIONS IS TO RECOGNIZE TAX POSITIONS IF THE POSITION WOULD MORE LIKELY THAN NOT BE ULTIMATELY SUSTAINED. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. FOR TAX POSITIONS NOT MEETING THE MORE LIKELY THAN NOT TEST, NO TAX BENEFIT IS RECORDED. CTP DOES NOT INCLUDE ANY UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES RECORDED ON VIII LINE 6B 145,862. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES RECORDED ON VIII LINE 6B 145,862. EUROPE 0 3 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 44162076 EAST ASIA & THE PACIFIC 0 5 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 6997866 NORTH AMERICA 0 4 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 5669652 SOUTH AMERICA 0 1 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 1765296 SOUTH ASIA 0 1 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 1336243 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 156491 CENTRAL AMERICA & THE CARIBBEAN 0 0 PROGRAM SERVICES INTERNATIONAL TRAVEL, MARKETING, AND PROMOTIONAL ACTIVITY 9500 0 14 0 0 0 14 60097124 0 60097124 0 0 0 0 0 0 PART I, LINE 2: N/A - CTP DOES NOT MAKE GRANTS OUTSIDE OF THE UNITED STATES. PART I, LINE 3: CTP CONDUCTS MULTI-MEDIA CONSUMER MARKETING CAMPAIGNS, INCLUDING COOPERATIVE MARKETING PROMOTING THE DESTINATIONS AND ATTRACTIONS THAT MAKE UP THE TRAVEL OPPORTUNITIES WITHIN THE UNITED STATES, AIMED AT CONSUMERS IN THE MARKETS LISTED IN PART 1 LINE 3. THE GOAL IS TO ENCOURAGE CONSUMERS TO CONSIDER AND BOOK TRAVEL FROM THEIR SOURCE MARKETS TO THE UNITED STATES. CTP ALSO CONDUCTS TRADE MARKETING AND EDUCATIONAL ACTIVITIES WITH TRAVEL SELLERS (TOUR OPERATORS, AIRLINES, ETC.) TO BETTER PREPARE THEM TO SELL TRAVEL FROM THEIR SOURCE MARKETS TO THE UNITED STATES. 0 DESTINATION MARKETING ASSOCIATION INTERNATIONAL PO BOX 650217 21000 SOUTHBANK STREET STE 106 330 POTOMAC FALLS VA 20165 310507334 501(C)(3) 6000 0 ANNUAL INVESTMENT CAMPAIGN 1 X 1 1 X X 1 0 0 CHRISTOPHER L THOMPSON CEO & PRESIDENT (UNTIL 09/24) 478334 0 348461 0 58500 0 9871 0 13113 0 908279 0 0 0 DONALD F RICHARDSON CHIEF FINANCIAL OFFICER 437318 0 130000 0 0 0 13800 0 27627 0 608745 0 0 0 FRED DIXON CEO & PRESIDENT 346166 0 150000 0 60000 0 0 0 6871 0 563037 0 0 0 AARON WODINSCHWARTZ CHIEF CORPORATE AFFAIRS OFFICER 369597 0 93750 0 0 0 13800 0 12562 0 489709 0 0 0 JOHN O CONTE SVP, GENERAL COUNSEL 305720 0 78750 0 0 0 12855 0 31191 0 428516 0 0 0 BRIAN WATKINS VP, TECHNOLOGY 238679 0 65000 0 0 0 10627 0 25300 0 339606 0 0 0 MING SUEY NEWCOMB VP, FINANCE & ACCOUNTING 233127 0 67500 0 0 0 10363 0 12941 0 323931 0 0 0 MARK LAPIDUS VP, CONTENT & MARKETING TECHNOLOGY 223106 0 57330 0 0 0 9303 0 31839 0 321578 0 0 0 STACI MELLMAN CHIEF MKTG OFFICER (UNTIL 08/24) 250783 0 0 0 50000 0 10038 0 3059 0 313880 0 0 0 CASSADY BAILEY VP, PARTNER ENGAGEMENT & MARKETING 224058 0 61250 0 0 0 6163 0 12311 0 303782 0 0 0 PART I, LINE 1A THE CEO AND FORMER CEO RECEIVED LIMITED HOUSING ALLOWANCE ACCORDING TO THEIR EMPLOYMENT AGREEMENTS, WHICH WAS REPORTED AS TAXABLE COMPENSATION ON THEIR W-2. THE FORMER CEO WAS REIMBURSED FOR A COMPANION'S TRAVEL EXPENSES FOR SELECT BUSINESS TRIPS DURING THE FISCAL YEAR. THESE EXPENSES WERE PRE-APPROVED BY THE BOARD OF DIRECTORS AND WAS INCLUDED AS TAXABLE COMPENSATION ON THEIR W-2. PART I, LINE 4A STACI MELLMAN RECEIVED A SEVERANCE PAYMENT OF $50,000. FORM 990, PART I, LINE 1: PROMOTION OF THE U.S. AS A PREMIER TRAVEL DESTINATION & COMMUNICATING U.S. ENTRY/EXIT POLICIES & PROCEDURES. FORM 990, PART III, LINE 1: THE MISSION OF BRAND USA IS TO ENCOURAGE INCREASED INTERNATIONAL VISITATION TO, THROUGH, AND BEYOND THE GATEWAYS. IN DOING SO, WE AIM TO BRING INTERNATIONAL VISITORS TO THE UNITED STATES SO THAT THE ECONOMIC AND DIPLOMATIC BENEFITS OF INTERNATIONAL VISITATION ARE FELT THROUGHOUT THE COUNTRY. FORM 990, PART III, LINE 4A: CONSUMER MARKETING CAMPAIGNS PROMOTING INCREASED INTERNATIONAL TRAVEL TO THE UNITED STATES IN FURTHERANCE OF CTP'S LEGISLATIVELY MANDATED MISSION. USING RESEARCH AND DATA CTP IS ABLE TO TARGET THE RIGHT CONSUMERS IN THE RIGHT MARKETS ACROSS THE RIGHT MEDIA CHANNELS WITH THE RIGHT MESSAGING TO EFFICIENTLY DRIVE ECONOMIC GROWTH AND SUSTAIN JOBS IN COMMUNITIES IN THE UNITED STATES. THE CAMPAIGNS ARE BUILT TO BOTH INSPIRE AND ACTIVATE CONSUMER INTEREST IN TRAVEL TO THE UNITED STATES. CURRENT MESSAGING AND ACTIVATING MESSAGES ACTIVATE INTERESTS THROUGH THE CELEBRATION OF AMERICA'S 250TH ANNIVERSARY, THE CENTENNIAL OF THE FOUNDING OF ROUTE 66, AND THE FIFA WORLD CUP. FORM 990, PART III, LINE 4B: COOPERATIVE MARKETING PROGRAMS ENABLES CTP TO INFLUENCE CONSUMERS BY PRESENTING THEM WITH AUTHENTIC AND INSPIRING DESTINATION AND ATTRACTION CONTENT. THESE EFFORTS ARE FURTHERED THROUGH CONTENT CREATION (WRITTEN, PHOTO, AND VIDEO) AND CORRESPONDING DIGITAL AND PRINT DISTRIBUTION, AND GENERAL MEDIA BUYING. THROUGH DATA AND PARTNERSHIPS WITH THE TRAVEL TRADE (AIRLINES, HOTELS, TOUR OPERATORS, ETC.) CTP IS ABLE TO INFLUENCE DECISION MAKING AND DRIVE ECONOMIC GROWTH AND SUSTAIN JOBS IN THE UNITED STATES. FORM 990, PART III, LINE 4C: CTP'S TRADE (BUSINESS-TO-BUSINESS) ACTIVITY IS COMPRISED OF EXHIBITING AT OR HOSTING TRADE SHOWS AROUND THE WORLD, TRAINING AND EDUCATING FOREIGN TRAVEL PROFESSIONALS ON THE BREADTH AND DEPTH OF U.S. TRAVEL OPPORTUNITIES, AND DESIGNING AND DISTRIBUTING POTENTIAL U.S. TRAVEL ITINERARIES TO AND THROUGH TRAVEL SELLERS AROUND THE WORLD. CTP MAINTAINS TRAVEL TRADE PRESENCE IN KEY SOURCE MARKETS TO KEEP THE USA TOP OF MIND VIA A STEADY SCHEDULE OF TRAINING PROGRAMS, EDUCATIONAL WEBINARS, NEWSLETTERS, AND VIRTUAL EVENTS THAT ENGAGE TRAVEL AGENTS AND TOUR OPERATORS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 INFORMATION IS COMPILED BY THE CORPORATION'S FINANCE DEPARTMENT WHICH WORKS CLOSELY WITH THE INDEPENDENT ACCOUNTING FIRM KPMG IN PREPARING THE RETURN. THE RETURN IS ALSO SENT TO OUTSIDE COUNSEL, SQUIRE PATTON BOGGS, FOR REVIEW BEFORE FILING. THE RETURN IS THEN PROVIDED TO MEMBERS OF THE BOARD OF DIRECTORS TO REVIEW PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY THE CORPORATION FOR TRAVEL PROMOTION HAS A WRITTEN CONFLICT OF INTEREST POLICY. MANAGEMENT MONITORS AND ENFORCES COMPLIANCE BY WAY OF REVIEW BY INTERNAL COUNSEL, THE COLLECTION OF ANNUAL CERTIFICATES AND THROUGH A CONFLICT OF INTEREST COMMITTEE WITH POWER DELEGATED TO IT BY THE BOARD OF DIRECTORS. THE CONFLICT OF INTEREST COMMITTEE IS COMPRISED OF DISINTERESTED DIRECTORS ENSURING THAT NO DIRECTOR WITH A POTENTIAL INTEREST IN THE TRANSACTION HAS A VOTE. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S SALARY WAS SET IN CONNECTION WITH THE SELECTION AND HIRING PROCESS IN FY2024. THE SEARCH COMMITTEE WORKED WITH EXECUTIVE SEARCH FIRM, HEIDRICK & STRUGGLES AND RELIED ON COMPENSATION STUDY (FOR ALL LEVELS OF EMPLOYEES WITHIN BRAND USA). THE COMPENSATION STUDY USED A COMBINATION OF THE FOLLOWING FACTORS: A) BENCHMARKS OF OTHER PUBLIC-PRIVATE PARTNERSHIPS, B) GREATER METRO WASHINGTON DC SALARY BANDS FOR CEOS, AND C) OTHER NON-PROFIT ORGANIZATIONS OF SIMILAR SIZE AND SCOPE OF SERVICES. THE COMMITTEE WORKED WITH OUTSIDE COUNSEL, SQUIRE PATTON BOGGS, TO NEGOTIATE THE EMPLOYMENT AGREEMENT. THE FULL BOARD RATIFIED ACCEPTANCE OF THE EMPLOYMENT AGREEMENT. THE BOARD OF DIRECTORS MEETS THREE TIMES PER YEAR TO REVIEW THE CEO'S PERFORMANCE AND APPROVES VARIABLE COMPENSATION, PER THE TERMS OF THE EMPLOYMENT AGREEMENT AND ANY CHANGES TO BASE COMPENSATION, ON AN ANNUAL BASIS. SUCH APPROVALS OF VARIABLE COMPENSATION OR CHANGES TO BASE COMPENSATION ARE RECORDED IN BOARD MINUTES. CTP REVIEWS ALL EMPLOYEE COMPENSATION THROUGH A COMPENSATION STUDY CONDUCTED EVERY FEW YEARS. THE LAST STUDY WAS CONDUCTED IN FALL 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC ON ITS WEBSITE. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.