Greater Boston Convention And Tourist Bureau Inc
- Assets
- $40.6m
- Revenue
- $45.7m
- Investments
- $0.0
- Employees
- 117
- Location
- Boston, MA
- Founding
- 05/1976
- Data as of
- 12/2023
- EIN
- 04-2554943
Organization Overview
Greater Boston Convention And Tourist Bureau Inc, operating under the name Meet Boston, is located in Boston, MA. The organization was established in 1976. 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 12/2023, Meet Boston employed 117 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meet Boston 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 12/2023, Meet Boston generated $45.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $45.7m during the year ending 12/2023. While expenses have increased by 15.8% per year over the past 9 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
THE GREATER BOSTON CONVENTION & VISITORS BUREAU (GBCVB) IS THE PRIMARY PRIVATE SECTOR MARKETING AND VISITOR SERVICE ORGANIZATION CHARGED WITH DEVELOPMENT OF MEETINGS, CONVENTIONS AND TOURISM-RELATED BUSINESS. OUR GOAL IS TO ENHANCE THE ECONOMY OF BOSTON, CAMBRIDGE AND THE METROPOLITAN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GBCVB IS A NOT-FOR-PROFIT ORGANIZATION WHICH PROMOTES AND MARKETS GREATER BOSTON FOR THE PURPOSE OF ENHANCING THE OVERALL ECONOMY THROUGH VISITOR DEVELOPMENT. THE GBCVB'S PRIMARY SOURCES OF REVENUES AND SUPPORT ARE GOVERNMENT GRANTS AND CONTRACTS, MARKETING PROGRAMS, TOURISM DESTINATION MARKETING DISTRICT SPECIAL ASSESSMENTS AND MEMBERSHIP DUES. GBCVB ALSO GENERATES REVENUES FROM PROMOTIONAL PUBLICATIONS, MEMBERSHIP SERVICES, AND OTHER MARKETING PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Donahue Chairman | OfficerTrustee | 0.3 | $0 |
James Carmody Past Chair | OfficerTrustee | 0.3 | $0 |
Cindy Brown Clerk | OfficerTrustee | 0.3 | $0 |
Darryl Settles Vice Chair | OfficerTrustee | 0.3 | $0 |
Laura Gregoriadis Treasurer | OfficerTrustee | 0.3 | $0 |
Martha Sheridan President & CEO | OfficerTrustee | 40 | $555,296 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mittcom Consulting Marketing | 12/30/14 | $301,854 |
Clearway Corp It Services | 12/30/14 | $167,387 |
Acer Exhibits & Events Trade Show Exhibits | 12/30/14 | $150,347 |
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 | $45,154,850 |
| Investment income | $442,526 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$51,561 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,660,184 |
| 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. | $3,017,496 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,364,007 |
| Pension plan accruals and contributions | $288,364 |
| Other employee benefits | $769,466 |
| Payroll taxes | $634,393 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $77,793 |
| Fees for services: Accounting | $58,404 |
| Fees for services: Lobbying | $90,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,942 |
| Fees for services: Other | $197,152 |
| Advertising and promotion | $31,397,036 |
| Office expenses | $172,011 |
| Information technology | $198,013 |
| Royalties | $0 |
| Occupancy | $1,014,432 |
| Travel | $600,837 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,369 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $213,414 |
| Insurance | $52,592 |
| All other expenses | $123,029 |
| Total functional expenses | $45,747,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,341,582 |
| Savings and temporary cash investments | $2,405,892 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,924,095 |
| 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 | $1,099,940 |
| Net Land, buildings, and equipment | $4,761,652 |
| Investments—publicly traded securities | $5,644,429 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,425,917 |
| Total assets | $40,603,507 |
| Accounts payable and accrued expenses | $2,860,028 |
| Grants payable | $0 |
| Deferred revenue | $2,800,730 |
| 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 | $9,802,671 |
| Total liabilities | $15,463,429 |
| Net assets without donor restrictions | $2,228,834 |
| Net assets with donor restrictions | $22,911,244 |
| 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 | $40,603,507 |