Greater Woodfield Convention & Visitors Bureau Inc
- Assets
- $1.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 10
- Location
- Schaumburg, IL
- Founding
- 09/1986
- Data as of
- 06/2022
- EIN
- 36-3262249
Organization Overview
Greater Woodfield Convention & Visitors Bureau Inc is located in Schaumburg, IL. The organization was established in 1986. 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 06/2022, Greater Woodfield Convention & Visitors Bureau Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Woodfield Convention & Visitors Bureau Inc 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 06/2022, Greater Woodfield Convention & Visitors Bureau Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 3.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
TO PROMOTE DEVELOPMENT OF THE BUSINESS ENVIRONMENT OF THE NORTHWEST SUBURBAN AREA OF CHICAGO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BUREAU WAS FORMED TO MAKE A POSITIVE ECONOMIC IMPACT BY ATTRACTING VISITORS TO THE REGION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Larson President | OfficerTrustee | 40 | $102,866 |
Patton Feichter Secretary | OfficerTrustee | 1 | $0 |
Dieter Heigl Immediate Pa | OfficerTrustee | 1 | $0 |
Andy-John Kalkounos Past Chair | OfficerTrustee | 1 | $0 |
Shirlanne Lemm Chairman Of | OfficerTrustee | 1 | $0 |
Mike Larson Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,792 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,513,509 |
| 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 | $1,517,301 |
| Total Program Service Revenue | $423,867 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,952,981 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $602,719 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $39,640 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $784,232 |
| Office expenses | $2,120 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $59,398 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,396 |
| Insurance | $75,053 |
| All other expenses | $140,918 |
| Total functional expenses | $1,951,390 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,823 |
| Savings and temporary cash investments | $919,452 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $185,806 |
| 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 | $6,198 |
| Net Land, buildings, and equipment | $22,856 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,489 |
| Total assets | $1,144,624 |
| Accounts payable and accrued expenses | $101,307 |
| Grants payable | $0 |
| Deferred revenue | $11,554 |
| 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 | $39,528 |
| Total liabilities | $152,389 |
| Net assets without donor restrictions | $992,235 |
| Net assets with donor restrictions | $0 |
| 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 | $1,144,624 |
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|---|---|---|
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |