Greater Merrimack Valley Convention And Vistors Bureau
- Assets
- $928.6k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 3
- Location
- Lowell, MA
- Founding
- 11/1992
- Data as of
- 06/2022
- EIN
- 04-3158302
Organization Overview
Greater Merrimack Valley Convention And Vistors Bureau is located in Lowell, MA. The organization was established in 1992. 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 06/2022, Greater Merrimack Valley Convention And Vistors Bureau employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Merrimack Valley Convention And Vistors 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 06/2022, Greater Merrimack Valley Convention And Vistors Bureau generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $659.1k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE BUREAU WAS ESTABLISHED TO STIMULATE THE REGION'S ECONOMY BY PROMOTING AND INCREASING TOURISM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BUREAU ENGAGES IN MARKETING PROGRAMS, FAMILIARIZATION TOURS, PUBLIC RELATIONS PROGRAMS AND CO-OPERATIVE EFFORTS WITH LOCAL HOTELS, CONVENTION AND ATTRACTION ORGANIZERS AND OPERATORS, AND OTHER BUSINESSES IN FURTHERANCE OF THE ABOVE STATEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pete Lally Co-Chair | OfficerTrustee | 1 | $0 |
David Karpinsky Treasurer | OfficerTrustee | 1 | $0 |
Darren Bisso Board Member | Trustee | 1 | $0 |
Melisa Tintocalis Board Member | Trustee | 1 | $0 |
Janet Glonska Board Member | Trustee | 1 | $0 |
Casey Haggerty Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $59,675 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $999,696 |
| 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 | $1,059,371 |
| Total Program Service Revenue | $27,580 |
| Investment income | $2,023 |
| 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 | $1,088,974 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $120,089 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,519 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $282,507 |
| Office expenses | $25,250 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,400 |
| Travel | $0 |
| 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 | $2,010 |
| Insurance | $4,893 |
| All other expenses | $13,240 |
| Total functional expenses | $659,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $667,123 |
| Savings and temporary cash investments | $245,405 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,959 |
| 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 | $4,652 |
| Net Land, buildings, and equipment | $5,415 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $928,554 |
| Accounts payable and accrued expenses | $64,075 |
| Grants payable | $0 |
| Deferred revenue | $1,912 |
| 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 | $112,303 |
| Total liabilities | $178,290 |
| Net assets without donor restrictions | $191,353 |
| Net assets with donor restrictions | $558,911 |
| 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 | $928,554 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Merrimack Valley Convention And Vistors Bureau has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Jeanne Darc Credit Union Lowell, MA PURPOSE: CHARITABLE CONTRIBUTIONS | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Connecticut Institute For Communities Inc Danbury, CT | $23,773,882 | $36,794,150 |
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 |