Nashville Convention & Visitors Bureau
- Assets
- $15.7m
- Revenue
- $21.6m
- Investments
- $0.0
- Employees
- 220
- Location
- Nashville, TN
- Founding
- 08/2005
- Data as of
- 06/2021
- EIN
- 02-0700616
Organization Overview
Nashville Convention & Visitors Bureau is located in Nashville, TN. The organization was established in 2005. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Nashville Convention & Visitors Bureau employed 220 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nashville Convention & 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, Nashville Convention & Visitors Bureau generated $21.6m 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 (3.7%) each year. All expenses for the organization totaled $18.8m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Nashville Convention & Visitors Bureau has awarded 37 individual grants totaling $13,685,632. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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 NASHVILLE CONVENTION & VISITORS BUREAU IS TO MAXIMIZE THE ECONOMIC CONTRIBUTION OF THE CONVENTION & TOURISM INDUSTRY TO NASHVILLE, TN, WHICH IS THE CITY'S SECOND LARGEST INDUSTRY. THIS INDUSTRY PROVIDES JOBS TO ALMOST 60,000 PEOPLE AND BRINGS OVER $7 BILLION INTO THE LOCAL ECONOMY EACH YEAR. IT'S HEALTH IS CRITICAL TO THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALTHOUGH TRAVEL DURING THIS YEAR WAS GREATLY RESTRICTED DUE TO THE COVID-19 PANDEMIC, UTILIZING OUR ONLINE RESOURCES, AND THROUGH NATIONAL AND REGIONAL MEDIA, THE NCVB IMPLEMENTED ADVERTISING PROGRAMS DESIGNED TO PROMOTE AWARENESS OF THE COMMUNITY AS A DESIRABLE DESTINATION FOR MEETING-RELATED AND LEISURE TRAVEL AT TIMES THAT WERE THE MOST APPROPRIATE FOR THE PUBLIC HEALTH SITUATION. THE NCVB ALSO WORKED THROUGH REGIONAL AAA OUTLETS AND OTHER TOURISM ORGANIZATIONS TO PROMOTE THE COMMUNITY AS A SAFE PLACE TO VISIT ONCE TRAVEL RESTRICTIONS WERE LIFTED. THE ORGANIZATION PRODUCED A NEW TV CAMPAIGN WELCOMING VISITORS BACK TO THE CITY TO USE AS AN ADDITIONAL PROMOTIONAL TOOL WHEN THE PUBLIC HEALTH SITUATION IMPROVED.
THROUGH DIRECT SALES EFFORTS, THE NCVB MARKETED THE CITY TO THE NATIONAL MEETING PLANNING AND GROUP TRAVEL INDUSTRIES, TO RAISE AWARENESS OF THE ATTRACTIVENESS OF THE NASHVILLE AREA AS A CONVENTION AND LEISURE TRAVEL DESTINATION ONCE TRAVEL RESTRICTIONS WERE LIFTED. BY KEEPING OUR SALES TEAM IN PLACE AND WORKING DURING THE PANDEMIC, WE WERE ABLE TO KEEP OUR DESTINATION TOP OF MIND AMONG MEETING PLANNERS DURING THE GROUP TRAVEL PAUSE.
ALTHOUGH THE EVENTS WERE SCALED BACK FROM THE TRADITIONAL LARGE CROWD PUBLIC EVENTS, IN ASSOCIATION WITH MUSIC CITY INC., THE NCVB PRODUCED MUSICAL EVENTS FOR THE CITY THAT WERE BROADCAST ON LOCAL TELEVISION OVER THE JULY 4TH AND NEW YEAR'S EVE HOLIDAY PERIODS. THESE EVENTS HELP TO REMIND TRAVELERS OF THE TRADITIONAL PUBLIC EVENTS THAT WILL BE HELD IN THE CITY AGAIN ONCE TRAVEL RESTRICTIONS FROM THE PANDEMIC ARE LIFTED.
TO MAKE IT EASIER FOR VISITORS TO MAKE THEIR TRAVEL ARRANGEMENTS WHEN COMING TO NASHVILLE, THE NCVB OPERATES A STATE-OF-THE-ART WEBSITE AND A FULLY STAFFED CALL CENTER TO ANSWER VISITOR INQUIRIES, MAKE SUGGESTIONS ABOUT WHAT TO DO WHILE VISITORS ARE IN THE CITY, AND MAKE HOTEL AND ATTRACTION RESERVATIONS FOR THE VISITORS OVER THE PHONE, OR THROUGH OUR WEBSITE. THE NCVB HAS ALSO CREATED A JOINT MARKETING PROGRAM CALLED TOTAL ACCESS WHERE FOR ONE DISCOUNTED PRICE, VISITORS CAN SELECT 4 ATTRACTIONS TO VISIT FROM AMONG THE 25 - 30 PARTICIPATING VENUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Spyridon CEO | OfficerTrustee | 60 | $809,667 |
Deana Ivey President | Officer | 50 | $293,453 |
Jeff Mefford CFO | Officer | 45 | $205,168 |
Adrienne Siemers Chief Sales Officer | Officer | 45 | $168,639 |
William Wright Sr. Vice President Sales | 45 | $141,055 | |
Wendy Ramirez Sales Director | 45 | $140,886 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
British Airways Promotion Of International Air Service | 6/29/21 | $2,486,084 |
Vml Inc Video And Website Design Services | 6/29/21 | $787,166 |
Hills Balfour Ltd Marketing And Promotion Services | 6/29/21 | $678,890 |
Kapital Productions Llc Tv Show Production | 6/29/21 | $200,000 |
Fivestone Studios Inc Video Production | 6/29/21 | $346,112 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,934,107 |
| 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 | $8,934,107 |
| Total Program Service Revenue | $12,781,852 |
| Investment income | $3,687 |
| 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 | -$96,852 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,623,147 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| 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. | $1,924,861 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,066,294 |
| Pension plan accruals and contributions | $185,004 |
| Other employee benefits | $657,942 |
| Payroll taxes | $483,642 |
| Fees for services: Management | $18,146 |
| Fees for services: Legal | $8,811 |
| Fees for services: Accounting | $25,200 |
| Fees for services: Lobbying | $129,737 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $480,414 |
| Advertising and promotion | $4,981,015 |
| Office expenses | $455,976 |
| Information technology | $154,009 |
| Royalties | $0 |
| Occupancy | $564,823 |
| Travel | $238,196 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,706,122 |
| Interest | $2,859 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $209,213 |
| Insurance | $31,242 |
| All other expenses | $0 |
| Total functional expenses | $18,841,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,550 |
| Savings and temporary cash investments | $5,997,010 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,742,834 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $190,000 |
| Prepaid expenses and deferred charges | $1,345,743 |
| Net Land, buildings, and equipment | $818,358 |
| Investments—publicly traded securities | $1,570,107 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,667,602 |
| Accounts payable and accrued expenses | $4,892,044 |
| Grants payable | $0 |
| Deferred revenue | $396,720 |
| 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 | $3,251,422 |
| Other liabilities | $1,192,180 |
| Total liabilities | $9,732,366 |
| Net assets without donor restrictions | $5,935,236 |
| 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 | $15,667,602 |
Grants Awarded
Over the last fiscal year, Nashville Convention & Visitors Bureau has awarded $3,172,632 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Nashville, TN PURPOSE: To assist with the production of the Music City Bowl college football bowl game which takes place in December each year, and brings thousands of visitors to Nashville. | $1,000,000 |
Nashville, TN PURPOSE: To assist with the production of the Music City Bowl college football bowl game which takes place in December each year, and brings thousands of visitors to Nashville. | $1,000,000 |
Nashville, TN PURPOSE: To help establish a charitable giving fund in the city to assist the victims of the March 2020 tornado that impacted sections of the city. | $500,000 |
Nashville, TN PURPOSE: To help establish a charitable giving fund in the city to assist the victims of the March 2020 tornado that impacted sections of the city. | $500,000 |
Nashville, TN PURPOSE: Donation representing the net proceeds of a special T-Shirt sale to raise funds for a program of the recipient that provided assistance to local victims of the 2020 tornado and pandemic. | $41,316 |
Nashville, TN PURPOSE: Donation representing the net proceeds of a special T-Shirt sale to raise funds for a program of the recipient that provided assistance to local victims of the 2020 tornado and pandemic. | $41,316 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Nashville Convention & Visitors Bureau has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Delta Dental Of Tennessee Nashville, TN PURPOSE: EVENT SPONSORSHIP | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Srcco Inc Durham, NC | $42,497,453 | $49,465,239 |
Fs-Isac Inc Reston, VA | $27,418,346 | $31,957,295 |
National Association Of Convenience Stores Inc Alexandria, VA | $81,131,547 | $56,800,862 |
National Association Of State Boards Of Accountancy Inc Nashville, TN | $83,126,370 | $38,317,801 |
Air-Conditioning Heating And Refrigeration Institute Arlington, VA | $58,066,234 | $32,390,159 |
Southern Motor Carriers Association Inc Peachtree City, GA | $87,365,051 | $35,375,343 |
Unc Management Company Inc Chapel Hill, NC | $53,097,067 | $30,528,524 |
Go Rving Inc Reston, VA | $28,984,123 | $37,260,082 |
Serc Reliability Corporation Charlotte, NC | $16,241,101 | $25,718,150 |
National Milk Producers Federation Arlington, VA | $39,144,677 | $53,985,808 |
American Association Of Airport Executives Alexandria, VA | $31,151,300 | $20,490,750 |
National Electrical Manufacturers Association Rosslyn, VA | $26,880,642 | $22,525,604 |