Greater Madison Convention & Visitor Bureau Inc
- Assets
- $7.7m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 53
- Location
- Madison, WI
- Founding
- 06/1973
- Data as of
- 12/2020
- EIN
- 39-1174876
Organization Overview
Greater Madison Convention & Visitor Bureau Inc is located in Madison, WI. The organization was established in 1973. 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 12/2020, Greater Madison Convention & Visitor Bureau Inc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Madison Convention & Visitor 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 12/2020, Greater Madison Convention & Visitor Bureau Inc generated $4.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $4.0m during the year ending 12/2020. While expenses have increased by 2.8% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE GREATER MADISON AREA AS A CONVENTION AND TOURIST LOCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONVENTION SERVICES:SERVICES TO MEETING PLANNERS, CONVENTIONS, INCLUDING DELEGATE HOUSING, PROGRAM PLANNING ASSISTANCE, AND PROVISION OF MEETING SUPPLIES. DUE TO COVID-19, MOST CONVENTIONS AND TOURISMS WERE RESTRICTED DURING THE CALENDAR YEAR.
SALES:DIRECT AND INDIRECT SALES TO CONVENTION AND MEETING PLANNERS, GROUP TOUR OPERATIONS, TOURISTS, AND LOCAL BUSINESSES.
PARTNERSHIP SERVICES:SERVICES TO MEMBERS INCLUDING SALES REFERRALS, MARKETING, AND BUSINESS PLANNING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deb Archer Presdient & CEO | Officer | 40 | $204,286 |
Diane Morgenthaler Executive Vice President | 40 | $152,894 | |
John Leinen Vice President Of Sales | 40 | $133,334 | |
Greg Frank Chair | OfficerTrustee | 4 | $0 |
Brewer Stouffer Treasurer | OfficerTrustee | 4 | $0 |
Lynn Hobbie Immediate Past Chair | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $698,724 |
| 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 | $698,724 |
| Total Program Service Revenue | $4,101,727 |
| Investment income | $64,360 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $41,120 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,933,152 |
| 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. | $242,119 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,871,996 |
| Pension plan accruals and contributions | $81,727 |
| Other employee benefits | $220,162 |
| Payroll taxes | $156,978 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,658 |
| Fees for services: Accounting | $47,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $329,139 |
| Advertising and promotion | $155,731 |
| Office expenses | $113,129 |
| Information technology | $34,164 |
| Royalties | $0 |
| Occupancy | $313,338 |
| Travel | $28,123 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $206,227 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,177 |
| Insurance | $15,086 |
| All other expenses | $35,483 |
| Total functional expenses | $3,988,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000 |
| Savings and temporary cash investments | $6,327,509 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $275,194 |
| 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 | $74,608 |
| Net Land, buildings, and equipment | $178,200 |
| Investments—publicly traded securities | $660,643 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $194,479 |
| Total assets | $7,711,633 |
| Accounts payable and accrued expenses | $335,291 |
| Grants payable | $0 |
| Deferred revenue | $264,440 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $247,245 |
| 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 | $292,561 |
| Total liabilities | $1,139,537 |
| Net assets without donor restrictions | $6,572,096 |
| 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 | $7,711,633 |
Grants Awarded
Over the last fiscal year, Greater Madison Convention & Visitor Bureau Inc has awarded $231,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Madison, WI PURPOSE: FOR GENERAL OPERATIONS ($135,000) AND FOR A DEVELOPMENT ASSESSMENT PLAN ($21,500). | $156,500 |
Madison, WI PURPOSE: FOR OPERATING COSTS INCURRED ON BEHALF OF RELATED ORG. WITH COMMON MISSION FOR 2015-2017. | $75,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Madison Convention & Visitor Bureau Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Madison Gas & Electric Foundation Inc Madison, WI PURPOSE: SUPPORT SPIRIT OF GREATER MADISON | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Southern Minnesota Initiative Foundation Owatonna, MN | $74,043,196 | $20,001,758 |
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 |
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 |
Metropolitan Detroit Convention & Vistors Bureau Detroit, MI | $36,765,048 | $14,015,809 |
Detroit Economic Growth Corp Detroit, MI | $7,209,211 | $10,420,774 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |
Southwest Michigan First Corporation Kalamazoo, MI | $10,945,070 | $8,560,798 |
Wenonah Park Properties Inc Bay City, MI | $22,411,152 | $7,079,713 |