Greater Philadelphia Tourism Marketing Corporation
- Assets
- $11.4m
- Revenue
- $8.0m
- Investments
- $6.5m
- Employees
- 58
- Location
- Philadelphia, PA
- Founding
- 10/1996
- Data as of
- 09/2021
- EIN
- 23-2847538
Organization Overview
Greater Philadelphia Tourism Marketing Corporation, operating under the name Visit Philadelphia, is located in Philadelphia, PA. The organization was established in 1996. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Visit Philadelphia employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Visit Philadelphia is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Visit Philadelphia generated $8.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.9%) each year. All expenses for the organization totaled $8.8m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
VISIT PHILADELPHIA IS OUR NAME AND OUR MISSION. AS THE REGION'S OFFICIAL TOURISM MARKETING AGENCY, WE BUILD GREATER PHILADELPHIA'S IMAGE, DRIVE VISITATION AND BOOST THE ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VISIT PHILADELPHIA, THE REGION'S OFFICIAL TOURISM MARKETING AGENCY, BUILDS GREATER PHILADELPHIA'S IMAGE, DRIVES VISITATION AND BOOSTS THE ECONOMY. IN OCTOBER 2020, THE WORLD WAS STILL VERY MUCH IN THE MIDST OF THE COVID-19 PANDEMIC. AND THROUGHOUT 2021, THERE WERE EASES IN COVID RESTRICTIONS AND THE TIGHTENING OF COVID RESTRICTIONS, SURGES IN VACCINATIONS AND MULTIPLE SURGES IN VIRUS OUTBREAKS. THROUGH IT ALL, THE TEAM AT VISIT PHILADELPHIA STAYED FOCUSED ON OUR 25-YEAR MISSION TO BUILD GREATER PHILADELPHIA'S IMAGE, FIRST AND FOREMOST. WHEN DRIVING VISITATION WASN'T AN OPTION FOR US, WE CONCENTRATED OUR MARKETING EFFORTS ON LOCALS, ENCOURAGING THEM TO SUPPORT RESTAURANTS, SHOPS AND ATTRACTIONS IN INVENTIVE WAYS THAT BROUGHT A MUCH-NEEDED BOOST TO THE ECONOMY. AS OUR REGION'S AND OUR COUNTRY'S SITUATION IMPROVED, WE FOCUSED IN ON INTREPID TRAVELERS, INVITING THEM TO DIP THEIR TOES BACK INTO TRAVEL WITH A TRIP TO PHILADELPHIA, AND MANY TOOK US UP ON THAT INVITATION, HELPING OUR REGION'S INDUSTRY TO REBOUND FASTER THAN EXPECTED AND FASTER THAN OUR COMPETITOR DESTINATIONS. IN 2021, WE LAUNCHED A NEW CAMPAIGN, PACK LIGHT. PLAN BIG. FOR PHILLY., TO DRIVE DAY AND OVERNIGHT VISITATION. WE WERE AS COMMITTED AS EVER TO DIVERSITY MARKETING, TOUTING THE BLACK- AND BROWN-OWNED BUSINESSES HIT ESPECIALLY HARD BY THE PANDEMIC. WE SUPPORTED AND PROMOTED THE CITY'S HOLIDAY CELEBRATIONS IN A MAJOR WAY, INCLUDING THE FIRST-EVER VISIT PHILADELPHIA HOLIDAY PARADE. AND WE CONTINUED TO PARTNER WITH LOCAL, REGIONAL AND NATIONAL ORGANIZATIONS TO TOUT GREATER PHILADELPHIA AS A GREAT PLACE TO VISIT TO NEW AUDIENCES ALL THE WHILE REMAINING A MAJOR PRESENCE ONLINE, ON SOCIAL MEDIA AND IN THE PRESS. FOR DETAILED RESULTS PLEASE SEE OUR ANNUAL REPORT AT VISITPHILLY.COM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Guaracino President & CEO | OfficerTrustee | 55 | $308,937 |
Neil Frauenglass Chief Marketing Officer | Officer | 50 | $212,065 |
Rachel Ferguson Chief Innovation & Global Diversity Officer | 50 | $198,481 | |
James Werner Chief Tourism Officer | 50 | $152,304 | |
Justin Pizzi Vice President Of Strategic Implementation | 50 | $140,495 | |
Keith Mcmenamin VP Of Information Technology | 50 | $140,256 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Us International Media Llc Media Buying Service | 9/29/21 | $668,661 |
Cashman & Associates Public Relations | 9/29/21 | $207,738 |
Our People Entertainment Event Production | 9/29/21 | $136,208 |
Bear Bear Productions Media Buying Service | 9/29/21 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,278,478 |
| All other contributions, gifts, grants, and similar amounts not included above | $150,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,428,478 |
| Total Program Service Revenue | $446,948 |
| Investment income | $143,545 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $984 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$558 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,019,397 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $745,355 |
| Compensation of current officers, directors, key employees. | $160,127 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,467,710 |
| Pension plan accruals and contributions | $63,074 |
| Other employee benefits | $231,873 |
| Payroll taxes | $221,960 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,817 |
| Fees for services: Accounting | $35,920 |
| Fees for services: Lobbying | $145,605 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,000 |
| Fees for services: Other | $421,978 |
| Advertising and promotion | $2,634,641 |
| Office expenses | $136,420 |
| Information technology | $91,712 |
| Royalties | $0 |
| Occupancy | $291,327 |
| Travel | $44,041 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $419,006 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $161,635 |
| Insurance | $23,217 |
| All other expenses | $90,818 |
| Total functional expenses | $8,849,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $308,503 |
| Savings and temporary cash investments | $3,003,597 |
| Pledges and grants receivable | $450,000 |
| Accounts receivable, net | $980,549 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,708 |
| Net Land, buildings, and equipment | $137,538 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,457,873 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $42,617 |
| Total assets | $11,403,385 |
| Accounts payable and accrued expenses | $1,639,252 |
| Grants payable | $0 |
| Deferred revenue | $29,863 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,126,165 |
| Total liabilities | $3,795,280 |
| Net assets without donor restrictions | $7,083,105 |
| Net assets with donor restrictions | $525,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,403,385 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Philadelphia Tourism Marketing Corporation has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Philadelphia Foundation Philadelphia, PA PURPOSE: ADVERTISING BLACK- AND BROWN-OWNED BUSINESS | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Insitech Inc Warren, NJ | $450,270 | $14,466,949 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Riverfront Development Corporation Of Delaware Wilmington, DE | $140,150,021 | $1,670,893 |
East Baltimore Development Inc Baltimore, MD | $12,751,192 | $30,262,944 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Montgomery County Economic Development Corporation Rockville, MD | $2,827,028 | $7,933,113 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |