Bangor Convention And Visitors Bureau
- Assets
- $145.9k
- Revenue
- $203.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Bangor, ME
- Founding
- 04/1993
- Data as of
- 06/2021
- EIN
- 01-0478486
Organization Overview
Bangor Convention And Visitors Bureau is located in Bangor, ME. The organization was established in 1993. 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, Bangor Convention And Visitors Bureau employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bangor Convention And 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 06/2021, Bangor Convention And Visitors Bureau generated $203.0k 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 (5.1%) each year. All expenses for the organization totaled $151.0k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 7 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
STIMULATE ECONOMIC VITALITY BY PROMOTING THE BANGOR REGION AS A DESTINATION FOR MEETINGS, CONVENTIONS, AND VISITORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SERVICES AND INFORMATION WHICH PROMOTED TOURISM/BUSINESS CONVENTIONS IN THE GREATER BANGOR AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kerrie Tripp Executive Di | Officer | 40 | $61,836 |
Risteen Bahr Bus & Develo | OfficerTrustee | 6 | $0 |
Austin Muchemore Treasurer | OfficerTrustee | 6 | $0 |
Kristen Mcalpine Secretary | OfficerTrustee | 6 | $0 |
Karen Cole Marketing Ch | OfficerTrustee | 6 | $0 |
Chris Rudolph Vice Chair | OfficerTrustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $99,048 |
| Investment income | $49 |
| 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 | $202,953 |
| Statement of Expenses | |
|---|---|
| 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. | $61,836 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,037 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,801 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,822 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,399 |
| Advertising and promotion | $1,850 |
| Office expenses | $3,921 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,202 |
| Travel | $277 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $553 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,950 |
| All other expenses | $0 |
| Total functional expenses | $151,004 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96,553 |
| Savings and temporary cash investments | $42,107 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,278 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $145,938 |
| Accounts payable and accrued expenses | $16,555 |
| Grants payable | $0 |
| Deferred revenue | $9,504 |
| 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 | $106,700 |
| Unsecured mortgages and notes payable | $151 |
| Other liabilities | $0 |
| Total liabilities | $132,910 |
| Net assets without donor restrictions | $0 |
| 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 | $13,028 |
| Total liabilities and net assets/fund balances | $13,028 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eastern Maine Development Corporation Bangor, ME | $11,518,769 | $64,676,194 |
Northern Maine Development Commission Inc Caribou, ME | $20,810,299 | $32,269,814 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Maine Development Foundation Hallowell, ME | $970,799 | $2,681,444 |
Maine Tourism Association Hallowell, ME | $2,552,212 | $2,806,092 |
Maine Manufacturing Extension Partnership Augusta, ME | $1,279,245 | $1,939,009 |
Rockingham Economic Development Corporation Raymond, NH | $17,369,754 | $4,323,565 |
Kennebec Valley Council Of Governments Fairfield, ME | $3,745,709 | $1,561,553 |
Main Street Skowhegan Skowhegan, ME | $357,285 | $771,437 |
Convention Visitors Bureau Of Greater Portland Portland, ME | $563,151 | $741,115 |
Walpole Foundation Walpole, NH | $9,906,634 | $599,898 |
New Hampshire Lodging And Resturant Association Concord, NH | $788,383 | $690,976 |