Akron Convention And Visitors Bureau Inc
- Assets
- $6.7m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 111
- Location
- Akron, OH
- Founding
- 08/1976
- Data as of
- 12/2022
- EIN
- 34-1131390
Organization Overview
Akron Convention And Visitors Bureau Inc, operating under the name John S Knight Center, is located in Akron, OH. The organization was established in 1976. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, John S Knight Center employed 111 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. John S Knight Center is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, John S Knight Center generated $7.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $6.5m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE CITY OF AKRON AND THE COUNTY OF SUMMIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE BUREAU IS TO ENCOURAGE NEW BUSINESS, PROMOTE TOURISM, INCREASE VISIBILITY AND GAIN FURTHER RECOGNITION OF AKRON AND SUMMIT COUNTY AS A VIBRANT BUSINESS AND TOURISM DESTINATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Lieberth Vice Chairman & Interim Ch | OfficerTrustee | 1 | $0 |
Jeffrey Lynch Treasurer, Board Of Direct | OfficerTrustee | 1 | $0 |
Maureen M Schneider Secretary, Board Of Direct | OfficerTrustee | 1 | $0 |
Ismail Al-Amin Director | Trustee | 1 | $0 |
Renato Camacho Director | Trustee | 1 | $0 |
Jack Deleo Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Akron-canton Stage Employees Union Labor | 12/30/19 | $246,888 |
Northern Haserot Food Purveyor | 12/30/19 | $226,384 |
Ohio Hotel & Lodging Association Industry Trade Group | 12/30/19 | $131,608 |
Blue Ribbon Meats Food Purveyor | 12/30/19 | $119,970 |
The K Company Building Maintenance | 12/30/19 | $109,013 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,461,918 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,461,918 |
| Total Program Service Revenue | $3,077,890 |
| Investment income | $22,864 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $106,600 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,682,701 |
| 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. | $359,370 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,488,623 |
| Pension plan accruals and contributions | $104,237 |
| Other employee benefits | $277,679 |
| Payroll taxes | $230,151 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,414 |
| Fees for services: Accounting | $17,446 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $88,286 |
| Advertising and promotion | $705,070 |
| Office expenses | $66,879 |
| Information technology | $25,718 |
| Royalties | $0 |
| Occupancy | $1,377,959 |
| Travel | $28,039 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,270 |
| Interest | $12,118 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $151,296 |
| Insurance | $105,145 |
| All other expenses | $0 |
| Total functional expenses | $6,512,906 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,558,229 |
| Savings and temporary cash investments | $1,617,761 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,378,350 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $64,222 |
| Prepaid expenses and deferred charges | $158,524 |
| Net Land, buildings, and equipment | $736,988 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $189,800 |
| Total assets | $6,703,874 |
| Accounts payable and accrued expenses | $620,704 |
| Grants payable | $0 |
| Deferred revenue | $561,855 |
| 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 | $384,854 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,567,413 |
| Net assets without donor restrictions | $3,561,515 |
| Net assets with donor restrictions | $1,574,946 |
| 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 | $6,703,874 |