Albany County Convention & Visitors Bureau Inc
- Assets
- $2.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 41
- Location
- Albany, NY
- Founding
- 01/1980
- Data as of
- 12/2022
- EIN
- 51-0233241
Organization Overview
Albany County Convention & Visitors Bureau Inc is located in Albany, NY. The organization was established in 1980. 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, Albany County Convention & Visitors Bureau Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany County 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 12/2022, Albany County Convention & Visitors Bureau Inc generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) 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
PROMOTE CONVENTION & TOURISM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE TRAVEL, CONVENTION AND TOURISM IN ALBANY COUNTY, NEW YORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Cannon Director | Trustee | 1 | $0 |
Holly Nichols Director | Trustee | 1 | $0 |
Jeffrey Mirel Director | Trustee | 1 | $0 |
Kevin Johnson Director | Trustee | 1 | $0 |
Kyle Dzembo Director | Trustee | 1 | $0 |
Linda Neil Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $249,309 |
| 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 | $249,309 |
| Total Program Service Revenue | $38,544 |
| Investment income | $13,619 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$370 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,550 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,984,293 |
| 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. | $130,660 |
| Compensation of current officers, directors, key employees. | $26,132 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $747,033 |
| Pension plan accruals and contributions | $14,189 |
| Other employee benefits | $37,264 |
| Payroll taxes | $56,110 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $57,074 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,551 |
| Fees for services: Other | $0 |
| Advertising and promotion | $128,885 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,900 |
| Travel | $13,281 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $88,761 |
| Interest | $4,287 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,073 |
| Insurance | $14,527 |
| All other expenses | $143,920 |
| Total functional expenses | $1,721,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $512,476 |
| Savings and temporary cash investments | $506,566 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $370,476 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,922 |
| Prepaid expenses and deferred charges | $42,778 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $645,558 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,073 |
| Total assets | $2,082,849 |
| Accounts payable and accrued expenses | $91,997 |
| Grants payable | $0 |
| Deferred revenue | $13,805 |
| 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 | $150,000 |
| Total liabilities | $255,802 |
| Net assets without donor restrictions | $1,827,047 |
| 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 | $2,082,849 |