Greater Newark Tourism Improvement District Management Corporation
- Assets
- $972.7k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 8
- Location
- Newark, NJ
- Founding
- 03/2013
- Data as of
- 12/2021
- EIN
- 46-1795835
Organization Overview
Greater Newark Tourism Improvement District Management Corporation, operating under the name Greater Newark Convention & Visitors Bureau, is located in Newark, NJ. The organization was established in 2013. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Greater Newark Convention & Visitors Bureau employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Newark Convention & Visitors Bureau 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 12/2021, Greater Newark Convention & Visitors Bureau generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. 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
TO MARKET AND DEVELOP THE GREATER NEWARK REGION AS A YEAR ROUND OVERNIGHT DESTINATION FOR THE ECONOMIC BENEFIT OF NEWARK,NJ AND THE SURROUNDING REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GREATER NEWARK CONVENTION& VISITORS BUREAU IS COMMITTED TO GENERATE ECONOMIC GROWTH AND CREATE NEW JOBS FOR NEWARK BY INCREASING THE NUMBER OF OVERNIGHT VISITORS TO NEWARK, THEIR LENGTH OF STAY AT NEWARK HOTLES AND THEIR PER CAPITA SPENDING AT NEWARK ATTRACTIONS AND RESTAURANTS. GNCVB STRATEGIES INCLUDE ATTRACTING NEW EVENTS,MEETINGS AND CONFERENCES TO THE REGION AS WELL AS BROADLY PROMOTING AND MARKETING THE ASSESTS OF THE GREATER NEWARK REGION. THE GNCVB BOARD OF TRUSTEES IS COMPRISED OF LOCAL TOURISM PROFESSIONALS AND KEY INDUSTRY LEADERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ricardo Salazar President/ceo | Officer | 40 | $129,002 |
Gregory Good Board Chair | Officer | 3 | $0 |
Thafer Hanini Treasurer | Officer | 3 | $0 |
Katie Sword Secretary | Officer | 3 | $0 |
Blenda Pinto Vice Chair | Officer | 3 | $0 |
Vince Baglivo Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $362,445 |
| All other contributions, gifts, grants, and similar amounts not included above | $878,473 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,240,918 |
| Total Program Service Revenue | $0 |
| Investment income | $148 |
| 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 | $1,241,066 |
| 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. | $129,002 |
| Compensation of current officers, directors, key employees. | $20,640 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $451,081 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $111,195 |
| Payroll taxes | $62,557 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,955 |
| Fees for services: Accounting | $25,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $50,800 |
| Royalties | $0 |
| Occupancy | $113,678 |
| Travel | $56,825 |
| 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 | $50,269 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,612,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,932 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $574,429 |
| 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 | $16,097 |
| Net Land, buildings, and equipment | $53,529 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $69,409 |
| Other assets | $8,333 |
| Total assets | $972,729 |
| Accounts payable and accrued expenses | $178,984 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $41,875 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $220,859 |
| Net assets without donor restrictions | $751,870 |
| 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 | $972,729 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Trademark Association Inc New York, NY | $31,452,258 | $17,397,846 |
American Association Of Advertising Agencies Inc New York, NY | $18,840,338 | $16,325,912 |
Northeast Power Coordinating Council Inc New York, NY | $13,480,521 | $16,289,125 |
Produce Marketing Association Newark, DE | $26,319,073 | $9,750,513 |
The Toy Association Inc New York, NY | $44,631,259 | $11,487,921 |
Philadelphia Industrial Development Corp Philadelphia, PA | $40,435,799 | $13,493,986 |
Private Label Manufacturers Association New York, NY | $11,255,640 | $8,374,810 |
Pocono Mountains Vacation Bureau Inc Stroudsburg, PA | $11,737,684 | $15,325,542 |
Mohawk Valley Health System Utica, NY | $546,149,518 | $137,473,732 |
Acord Corporation Pearl River, NY | $47,591,189 | $27,875,680 |
National Kitchen & Bath Assoc Bethlehem, PA | $28,104,693 | $9,331,415 |
Loan Syndications And Trading Association Inc New York, NY | $32,443,554 | $12,995,504 |