Wine & Spirits Wholesalers Of America Inc
- Assets
- $39.7m
- Revenue
- $7.9m
- Investments
- $1.2m
- Employees
- 36
- Location
- Washington, DC
- Founding
- 04/1944
- Data as of
- 12/2022
- EIN
- 43-0590389
Organization Overview
Wine & Spirits Wholesalers Of America Inc is located in Washington, DC. The organization was established in 1944. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. As of 12/2022, Wine & Spirits Wholesalers Of America Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wine & Spirits Wholesalers Of America 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 12/2022, Wine & Spirits Wholesalers Of America Inc generated $7.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $9.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCING THE INTERESTS OF WINE AND SPIRITS WHOLESALERS TO FACILITATE THE SUCCESS OF ITS MEMBERS AND THE ALCOHOL INDUSTRY. THE GOAL OF THE ASSOCIATION IS TO PROMOTE A RESPONSIBLE, ACCOUNTABLE AND CONSUMER-FRIENDLY SYSTEM OF DISTRIBUTION WHILE DELIVERING SIGNIFICANT VALUE TO ITS MEMBERS AND THE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOVERNMENT AFFAIRS: THE ASSOCIATION'S GOVERNMENT AFFAIRS DEPARTMENT ADVOCATES SOUND AND EQUITABLE LEGISLATIVE MEASURES TO IMPROVE THE CONDITIONS UNDER WHICH WINE AND SPIRITS ARE SOLD AND DISTRIBUTED.
MEETINGS AND EVENTS: MEETINGS AND EVENTS ARE HELD EACH YEAR TO ENCOURAGE GROWTH OF WHOLESALERS AND THE ALCOHOL INDUSTRY, PROMOTE THE VALUE OF WHOLESALERS, EDUCATE THE INDUSTRY ON A NUMBER OF IMPORTANT TOPICS, AND PROMOTE SOCIAL INITIATIVES SUCH AS RESPONSIBLE DRINKING AND DEI.
PUBLIC AFFAIRS: THE ASSOCIATION'S COMMUNICATIONS DEPARTMENT WORKS TO COMMUNICATE THE VALUE OF ALCOHOL WHOLESALERS AND IMPORTANCE OF A STRONG ALCOHOL SUPPLY CHAIN. IT ALSO PROMOTES RESPONSIBILITY, AS WELL AS THE ASSOCIATION'S POSITIONS ON ISSUES, PROGRAMS, EXPERTISE, AND SERVICES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Korsmo President & CEO - Until 04/22 | OfficerTrustee | 40 | $515,382 |
Francis Creighton President & CEO - As Of 11/22 | OfficerTrustee | 40 | $184,615 |
Steven Becker Board Member | Trustee | 2 | $0 |
Thomas Cole Board Member | Trustee | 2 | $0 |
Robert Harmelin Board Member | Trustee | 2 | $0 |
Stan Hastings Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vermont Information Processing Inc Data Management Services | 12/30/22 | $318,000 |
Heidrick & Struggles Executive Search Services | 12/30/22 | $359,344 |
Bruning Law Group Gov't Relations Consulting | 12/30/22 | $127,000 |
Thorn Run Gov't Relations Consulting | 12/30/22 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $8,600,505 |
| Investment income | $238,620 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $27,151 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$938,039 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,934,087 |
| 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. | $1,131,926 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,053,390 |
| Pension plan accruals and contributions | $123,439 |
| Other employee benefits | $289,032 |
| Payroll taxes | $263,115 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,107 |
| Fees for services: Accounting | $123,732 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $104,312 |
| Fees for services: Other | $1,781,845 |
| Advertising and promotion | $79,013 |
| Office expenses | $127,104 |
| Information technology | $64,232 |
| Royalties | $0 |
| Occupancy | $460,188 |
| Travel | $440,083 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $656,784 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $132,466 |
| Insurance | $33,065 |
| All other expenses | $0 |
| Total functional expenses | $9,416,121 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,024,796 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $164,059 |
| 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 | $424,175 |
| Net Land, buildings, and equipment | $623,344 |
| Investments—publicly traded securities | $30,690,628 |
| Investments—other securities | $1,205,354 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,569,603 |
| Total assets | $39,701,959 |
| Accounts payable and accrued expenses | $880,399 |
| Grants payable | $0 |
| Deferred revenue | $1,149,280 |
| 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 | $4,465,667 |
| Total liabilities | $6,495,346 |
| Net assets without donor restrictions | $33,206,613 |
| 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 | $39,701,959 |