Loudoun Convention & Visitors Association Inc
- Assets
- $1.5m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 17
- Location
- Leesburg, VA
- Founding
- 02/1992
- Data as of
- 06/2022
- EIN
- 54-1593470
Organization Overview
Loudoun Convention & Visitors Association Inc is located in Leesburg, VA. The organization was established in 1992. 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 06/2022, Loudoun Convention & Visitors Association Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loudoun Convention & Visitors Association 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, Loudoun Convention & Visitors Association Inc generated $3.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $3.9m during the year ending 06/2022. While expenses have increased by 4.0% 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
THE ASSOCIATION IS ORGANIZED TO STRENGTHEN THE TRAVEL AND TOURISM INDUSTRY IN LOUDOUN COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOUDOUN CONVENTION AND VISITORS ASSOCIATION, INC. IS ORGANIZED TO STRENGTHEN THE TRAVEL AND TOURISM INDUSTRY THROUGH COMMUNICATION, COORDINATION AND COOPERATION IN ORDER TO EFFECTIVELY MARKET LOUDOUN COUNTY AS A PREFERRED DESTINATION FOR BUSINESS AND LEISURE TRAVELERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth M H Erickson President & CEO | Officer | 40 | $181,690 |
Gregory S Harp Employee | 40 | $115,025 | |
Ann Hayes Employee | 40 | $104,759 | |
Torye Hurst Employee | 40 | $101,133 | |
Tracy Hamlin Vice Chair | OfficerTrustee | 1 | $0 |
Melanie Mathewes Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,261,186 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,365 |
| Noncash contributions included in lines 1a–1f | $19,365 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,290,551 |
| Total Program Service Revenue | $82,883 |
| Investment income | $3,684 |
| 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 | $3,446,394 |
| 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. | $210,381 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $976,650 |
| Pension plan accruals and contributions | $60,964 |
| Other employee benefits | $83,120 |
| Payroll taxes | $73,872 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,653 |
| Fees for services: Accounting | $14,573 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $971,586 |
| Office expenses | $146,088 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $275,778 |
| 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 | $2,000 |
| Insurance | $10,362 |
| All other expenses | $0 |
| Total functional expenses | $3,934,565 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,451,128 |
| Pledges and grants receivable | $10,000 |
| Accounts receivable, net | $5,434 |
| 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 | $2,601 |
| Net Land, buildings, and equipment | $3,324 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,298 |
| Other assets | $12,910 |
| Total assets | $1,488,695 |
| Accounts payable and accrued expenses | $51,422 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $89,257 |
| Total liabilities | $140,679 |
| Net assets without donor restrictions | $1,082,519 |
| Net assets with donor restrictions | $265,497 |
| 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 | $1,488,695 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Williamsburg Area Chamber Of Commerce Williamsburg, VA | $14,757,466 | $13,076,106 |
House Majority Forward Washington, DC | $4,051,593 | $12,002,258 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Charlotte Regional Realtor Association Inc Charlotte, NC | $53,438,404 | $12,494,849 |
Real Estate Roundtable Inc Washington, DC | $4,544,529 | $7,445,927 |
North Carolina Association Of Realtors Inc Greensboro, NC | $31,160,587 | $11,391,480 |
The North Carolina Community Action Association Raleigh, NC | $4,811,006 | $8,169,285 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |
Virginia Association Of Realtors Richmond, VA | $25,601,642 | $9,283,805 |
Raleigh Regional Association Of Realtors Inc Cary, NC | $11,211,879 | $6,674,452 |
Professional Services Council Inc Arlington, VA | $6,239,213 | $6,315,119 |