Fayetteville Area Convention & Visitors Bureau Inc
- Assets
- $1.9m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 19
- Location
- Fayetteville, NC
- Founding
- 09/1997
- Data as of
- 06/2021
- EIN
- 56-2024982
Organization Overview
Fayetteville Area Convention & Visitors Bureau Inc is located in Fayetteville, NC. The organization was established in 1997. 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, Fayetteville Area Convention & Visitors Bureau Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fayetteville Area 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 06/2021, Fayetteville Area Convention & Visitors Bureau Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $2.7m during the year ending 06/2021. 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
POSITION CUMBERLAND COUNTY AS A DESTINATION FOR MEETINGS, INDIVIDUAL TRAVEL AND SPORTS TOURNAMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FY 2020/21, THE FAYETTEVILLE AREA CONVENTION & VISITORS BUREAU ("FACVB") FACVB ATTENDED 6 TRADESHOWS, AND SECURED VISITS REPRESENTING 3478 ROOM NIGHTS WITH AN INDIRECT IMPACT TO OUR ECONOMY OF $783,992.THE BUREAU PULLED EXTERNAL ADVERTISING TO REFORMULATE STRATEGY AND FOCUS MESSAGING ON COMMUNITY PRIDE LAUNCHING THE "THIS SPECIAL PLACE" CAMPAIGN, WHICH WAS PROMOTED THROUGH SOCIAL MEDIA. ALTHOUGH INDOOR ACTIVITIES COULD NOT BE SAFELY PROMOTED, THE BUREAU PUSHED THE SAFE OUTDOOR OPPORTUNITIES AVAILABLE, EVEN HOLDING A VIRTUAL PICNIC WITH LOCAL BLOGGERS AT SIX PARKS IN THE COMMUNITY. WHILE MEETINGS CONTINUED TO CANCEL, SPORTS PICKED UP IN LATE SUMMER OF 2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Meroski President/ceo | Officer | 50 | $149,224 |
Kelly Brill Office Manager | Officer | 40 | $65,858 |
James Grafstrom Treasurer | OfficerTrustee | 1 | $0 |
Amy Cannon Secretary | OfficerTrustee | 1 | $0 |
Subodh Thakur Chairman | OfficerTrustee | 1 | $0 |
Laura Leal Vice Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Simpleview Website And Database Management | 6/29/21 | $100,832 |
Republik Advertising & Pr | 6/29/21 | $612,177 |
Media One Na Social Media Campaign | 6/29/21 | $240,750 |
Rubberneck Pr & Media Relations | 6/29/21 | $157,500 |
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 | $2,950,198 |
| Investment income | $9,180 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,015 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $465 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,954,828 |
| 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. | $248,800 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $544,859 |
| Pension plan accruals and contributions | $27,126 |
| Other employee benefits | $39,792 |
| Payroll taxes | $60,456 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,848 |
| Fees for services: Accounting | $27,835 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,225 |
| Advertising and promotion | $1,353,430 |
| Office expenses | $71,536 |
| Information technology | $8,397 |
| Royalties | $0 |
| Occupancy | $96,790 |
| Travel | $10,834 |
| 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 | $13,490 |
| Insurance | $9,467 |
| All other expenses | $4,328 |
| Total functional expenses | $2,744,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $281,553 |
| Savings and temporary cash investments | $777,812 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $620,941 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $15,477 |
| Prepaid expenses and deferred charges | $4,213 |
| Net Land, buildings, and equipment | $170,201 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,870,197 |
| Accounts payable and accrued expenses | $174,965 |
| 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 | $0 |
| Total liabilities | $174,965 |
| Net assets without donor restrictions | $1,695,232 |
| 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 | $1,870,197 |
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 |