Charleston Area Convention & Visitors Bureau
- Assets
- $21.1m
- Revenue
- $31.7m
- Investments
- $0.0
- Employees
- 98
- Location
- Charleston, SC
- Founding
- 04/2002
- Data as of
- 06/2023
- EIN
- 03-0386059
Organization Overview
Charleston Area Convention & Visitors Bureau is located in Charleston, SC. The organization was established in 2002. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Charleston Area Convention & Visitors Bureau employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charleston Area 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 06/2023, Charleston Area Convention & Visitors Bureau generated $31.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $28.7m during the year ending 06/2023. While expenses have increased by 8.7% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO UNIFY AND LEAD THE LOCAL TRAVEL INDUSTRY IN MARKETING THE CHARLESTON AREA AS AN INDIVIDUAL, MEETING, INCENTIVE, AND GROUP DESTINATION TO BOTH THE DOMESTIC AND INTERNATIONAL MARKETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVERTISING AND PROMOTIONS: PROMOTING THE CHARLESTON AREA AS A PREMIER OVERNIGHT DESTINATION THROUGH MARKETING AND MEDIA INITIATIVES. THESE INITIATIVES INCLUDE PRINT, INTERNET/DIGITAL, AND TELEVISION. ADVERTISING CAMPAIGNS ARE PURSUED BASED ON EXTENSIVE TOURISM RESEARCH AND TRENDS. ON A LOCAL LEVEL, THIS PROMOTES CHARLESTON AREA BUSINESSES THROUGH FIVE AREA VISITOR CENTERS AND ON-SITE VISITOR INFORMATION BOOTHS. THIS IS WHERE STAFF ARE AVAILABLE TO PROVIDE LOCAL INFORMATION AND OFFER TOUR TICKETS, GUIDEBOOKS, AND ROOM RESERVATIONS FOR PURCHASE.
EXECUTIVE: COLLABORATES WITH STATE AND LOCAL GOVERNMENTS ON THE LONG-TERM DEVELOPMENT OF THE CHARLESTON AREA THROUGH A TRAVEL AND TOURISM STRATEGY, RESULTING IN, PRE-COVID, IN AN AVERAGE OF NEARLY 7 MILLION VISITORS, JOB EARNINGS OF OVER $2.5 BILLION, AND AN ECONOMIC IMPACT OF OVER $8 BILLION FOR THE REGION.
GROUP SALES AND SPORTS MARKETING: ATTEND INDUSTRY EVENTS ACROSS THE COUNTRY, AS WELL AS INTERNATIONAL, TO MEET WITH MEETING AND CONVENTION PLANNERS, TRAVEL AGENTS, AND REGIONAL AND NATIONAL ORGANIZATIONS. THROUGH BUILDING THESE RELATIONSHIPS AND PROVIDING INFORMATION ABOUT THE CHARLESTON AREA'S OFFERINGS, THE CHARLESTON AREA HAS EARNED ITS REPUTATION AS A WORLD-CLASS MEETING DESTINATION.
PRODUCTION OF RESPONSE PIECES: PRODUCES THREE YEARLY PUBLICATIONS AS WELL AS AN INTERACTIVE WEBSITE TO OFFER VISITORS ADDITIONAL INFORMATION ON LOCAL AREA BUSINESSES, EVENTS, AND TRAVEL TOOLS. EACH PUBLICATION IS GEARED TOWARDS A SPECIFIC MARKET: THE VISITORS GUIDE OFFERS INFORMATION FOR BOTH THE LEISURE AND COMBINATION LEISURE/BUSINESS TRAVELER; THE DESTINATION PLANNING GUIDE OFFERS MORE IN-DEPTH CONVENTION AND MEETING PLANNING INFORMATION; AND THE WEDDING GUIDE IS FULL OF INFORMATION FOR ANY COUPLE WHO IS CONSIDERING CHARLESTON AS A WEDDING DESTINATION. THE WEBSITE IS CONSISTENTLY UPDATED WITH TIPS FOR TRAVELERS INCLUDING INFORMATION ON WHAT TO SEE AND DO, WHERE TO STAY, AND HOW TO GET AROUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carl Borick Association Rep | Trustee | 0 | $0 |
Tommy Hall Association Rep | Trustee | 0 | $0 |
Mike Seekings Cacvb Appointee | Trustee | 0 | $0 |
Terry Sedalik Association Rep | Trustee | 0 | $0 |
Oliver Rooskens At-Large Accommodations | Trustee | 0 | $0 |
Michelle Woodhull At-Large Accommodations | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Meredith Corporation Advertising | 6/29/23 | $3,649,612 |
Sinclair Broadcast Advertising | 6/29/23 | $1,089,704 |
Conde Nast Publications Inc Advertising | 6/29/23 | $1,000,000 |
Garden & Gun Advertising | 6/29/23 | $690,000 |
Blue Ion Llc Website/advertising | 6/29/23 | $601,432 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $618,610 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $21,292,012 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,824,617 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,735,239 |
| Total Program Service Revenue | $4,606,984 |
| Investment income | $189,331 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $188,994 |
| 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 | $31,720,548 |
| 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. | $551,764 |
| Compensation of current officers, directors, key employees. | $24,840 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,100,549 |
| Pension plan accruals and contributions | $310,532 |
| Other employee benefits | $1,369,591 |
| Payroll taxes | $380,290 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $42,635 |
| Fees for services: Accounting | $59,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,838 |
| Advertising and promotion | $18,666,566 |
| Office expenses | $722,565 |
| Information technology | $385,553 |
| Royalties | $0 |
| Occupancy | $743,630 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $52,483 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $82,625 |
| Insurance | $66,725 |
| All other expenses | $0 |
| Total functional expenses | $28,651,937 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,203,661 |
| Savings and temporary cash investments | $7,647,805 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,207,069 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $79,129 |
| Prepaid expenses and deferred charges | $1,059,603 |
| Net Land, buildings, and equipment | $282,344 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,636,698 |
| Total assets | $21,116,309 |
| Accounts payable and accrued expenses | $3,290,329 |
| Grants payable | $0 |
| Deferred revenue | $98,775 |
| 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 | $2,664,384 |
| Total liabilities | $6,053,488 |
| Net assets without donor restrictions | $6,452,189 |
| Net assets with donor restrictions | $8,610,632 |
| 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 | $21,116,309 |