High Point Convention & Vistors Bureau Inc
- Assets
- $1.5m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 9
- Location
- High Point, NC
- Founding
- 07/1995
- Data as of
- 06/2021
- EIN
- 56-1923880
Organization Overview
High Point Convention & Vistors Bureau Inc is located in High Point, NC. The organization was established in 1995. 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 06/2021, High Point Convention & Vistors Bureau Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. High Point Convention & Vistors 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 06/2021, High Point Convention & Vistors Bureau Inc generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE HIGH POINT CONVENTION & VISITORS BUREAU IS TO PROMOTE AND ENCOURAGE ECONOMIC DEVELOPMENT IN HIGH POINT, NC THROUGH TRAVEL AND TOURISM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HIGH POINT CONVENTION & VISITORS BUREAU (HPCVB) IS A NON-PROFIT 501(C)6 ORGANIZATION THAT PROMOTES AND ENCOURAGES ECONOMIC DEVELOPMENT IN HIGH POINT, NC THROUGH TRAVEL AND TOURISM. HPCVB SUPPORTS TOURISM ACTIVITY AND CONVENTION BUSINESS IN HIGH POINT BY PROVIDING SERVICES TO MEETING PLANNERS AND SPECIAL GROUP EVENTS THAT UTILIZE AREA MEETING VENUES AND ACCOMMODATION FACILIITIES IN HIGH POINT. HPCVB PROVIDES INFORMATIONAL MATERIAL ABOUT THE HIGH POINT AREA TO OUT OF TOWN GUESTS, ADVERTISES THE CITY TO POTENTIAL CONVENTION BUSINESS AND VISITORS, AND PROVIDES GRANT SUPPORT TO LOCAL NON-PROFIT ORGANIZATIONS THAT ENCOURAGE AND SUPPLEMENT HPCVB'S MISSION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melody Burnett President | Officer | 40 | $94,109 |
Jonathan Marquez Treasurer | OfficerTrustee | 0 | $0 |
James E Mcneil Vice Chair | OfficerTrustee | 0 | $0 |
Jenni Lynch Chair | OfficerTrustee | 0 | $0 |
Weldon Morris Hussey Director | Trustee | 0 | $0 |
Chris Amos Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,389,624 |
| All other contributions, gifts, grants, and similar amounts not included above | $59,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,449,374 |
| Total Program Service Revenue | $50,381 |
| Investment income | $1,078 |
| 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 | $1,500,833 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $303,117 |
| 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. | $124,748 |
| Compensation of current officers, directors, key employees. | $62,374 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $189,482 |
| Pension plan accruals and contributions | $7,043 |
| Other employee benefits | $37,749 |
| Payroll taxes | $23,625 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,990 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $21,103 |
| Advertising and promotion | $301,776 |
| Office expenses | $58,338 |
| Information technology | $41,673 |
| Royalties | $0 |
| Occupancy | $97,380 |
| Travel | $5,420 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $74,908 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48,186 |
| Insurance | $1,607 |
| All other expenses | $10,492 |
| Total functional expenses | $1,422,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $897,817 |
| Pledges and grants receivable | $284,950 |
| Accounts receivable, net | $5,584 |
| 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 | $90,000 |
| Net Land, buildings, and equipment | $224,211 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $21,349 |
| Other assets | $2 |
| Total assets | $1,523,913 |
| Accounts payable and accrued expenses | $95 |
| 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 | $75,695 |
| Other liabilities | $0 |
| Total liabilities | $75,790 |
| Net assets without donor restrictions | $1,448,123 |
| 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 | $1,523,913 |
Grants Awarded
Over the last fiscal year, High Point Convention & Vistors Bureau Inc has awarded $303,117 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF HIGH POINT PURPOSE: TOURISM | $250,000 |
High Point, NC PURPOSE: tourism | $45,117 |
Winstonsalem, NC PURPOSE: TO PROMOTE FILMING IN TRIAD NC | $8,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that High Point Convention & Vistors Bureau Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
High Point Regional Health High Point, NC PURPOSE: COMMUNITY SUPPORT | $10,000 |
High Point Regional Health High Point, NC PURPOSE: COMMUNITY SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |
Chattanooga Area Convention And Visitors Bureau Inc Chattanooga, TN | $6,892,228 | $12,124,566 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |
Richmond Metropolitan Convention & Vistors Bureau Richmond, VA | $6,099,091 | $8,138,093 |
Knoxville Convention & Visitors Bureau Inc Knoxville, TN | $5,768,468 | $5,619,069 |
South Carolina I-77 Alliance Richburg, SC | $4,361,702 | $6,505,378 |
Access To Capital For Entrepreneurs Inc Cleveland, GA | $88,796,114 | $11,013,240 |
Columbia Metropolitan Convention And Visitors Bureau Columbia, SC | $6,376,262 | $4,843,981 |