Greater Boston Convention And Tourist Bureau Inc
- Assets
- $3.2m
- Revenue
- $8.8m
- Investments
- $0.0
- Employees
- 172
- Location
- Boston, MA
- Founding
- 05/1976
- Data as of
- 12/2020
- EIN
- 04-2554943
Organization Overview
Greater Boston Convention And Tourist Bureau Inc 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 12/2020, Greater Boston Convention And Tourist Bureau Inc employed 172 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Boston Convention And Tourist 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 12/2020, Greater Boston Convention And Tourist Bureau Inc generated $8.8m 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 (5.1%) each year. All expenses for the organization totaled $8.7m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (5.5%) per year over the past 6 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
2020
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 REVENUE ARE MEMBERSHIP DUES, GRANTS, PROMOTIONAL PUBLICATIONS, MEMBERSHIP SERVICES, AND MARKETING PROGRAMS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Milton Herbert Executive Director | Officer | 40 | $338,059 |
Martha Sheridan President & CEO | Officer | 40 | $229,947 |
Beth Stehley VP Of Convention Services | Officer | 40 | $170,148 |
Caryn Izhar VP Of Marketing | 40 | $132,924 | |
Hilina Ajakaiye Executive Vice President | 40 | $131,793 | |
Judy Sheng Director, Events & Media S | 40 | $131,712 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clearway Corp It Services | 12/30/14 | $167,387 |
Mittcom Consulting Marketing | 12/30/14 | $301,854 |
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 | $8,733,807 |
| Investment income | $37,960 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,635 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,778,402 |
| 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. | $1,618,172 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,943,843 |
| Pension plan accruals and contributions | $74,771 |
| Other employee benefits | $711,296 |
| Payroll taxes | $336,671 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,508 |
| Fees for services: Accounting | $37,745 |
| Fees for services: Lobbying | $72,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $123,289 |
| Advertising and promotion | $155,117 |
| Office expenses | $94,359 |
| Information technology | $75,208 |
| Royalties | $0 |
| Occupancy | $376,728 |
| Travel | $36,539 |
| 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 | $25,211 |
| Insurance | $32,478 |
| All other expenses | $1,196 |
| Total functional expenses | $8,690,319 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $661,076 |
| Savings and temporary cash investments | $672,353 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $442,721 |
| 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 | $132,537 |
| Net Land, buildings, and equipment | $63,625 |
| Investments—publicly traded securities | $1,202,971 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,175,283 |
| Accounts payable and accrued expenses | $290,105 |
| Grants payable | $0 |
| Deferred revenue | $1,303,573 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,743,678 |
| Net assets without donor restrictions | $1,431,605 |
| 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 | $3,175,283 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Greater Boston Convention And Tourist Bureau Inc has recieved totaling $150,000.
| Awarding Organization | Amount |
|---|---|
American Hotel & Lodging Association Directory Corporation Washington, DC PURPOSE: PROMOTE TOURISM | $50,000 |
Neo Philanthropy Inc New York, NY PURPOSE: Program Grant | $50,000 |
Aarp Washington, DC PURPOSE: Sponsorship of the US Conference of Mayors | $25,000 |
Harvard Pilgrim Health Care Foundation Inc Canton, MA PURPOSE: ECONOMIC DEVELOPMENT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Structured Employment Economic Development Corporation New York, NY | $3,440,081 | $6,983,803 |
Nybdc Local Development Corporation Albany, NY | $39,799,179 | $11,401,541 |
Venture For America Inc New York, NY | $3,605,973 | $6,866,605 |
Trufund Financial Services Inc New York, NY | $14,181,328 | $2,317,905 |
Griffiss Local Development Corporation Rome, NY | $28,823,478 | $3,861,279 |
Metrotech Area District Management Association Inc Brooklyn, NY | $3,270,355 | $4,991,826 |
Kiryas Joel Municipal Local Development Corporation Monroe, NY | $2,561,042 | $4,665,324 |
Connecticut Economic Resource New Haven, CT | $3,997,158 | $4,805,353 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |