Greater Providence-Warwick Convention And Visitors Bureau
- Assets
- $2.6m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 25
- Location
- Providence, RI
- Founding
- 10/1996
- Data as of
- 06/2021
- EIN
- 05-0487503
Organization Overview
Greater Providence-Warwick Convention And Visitors Bureau is located in Providence, RI. The organization was established in 1996. 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 06/2021, Greater Providence-Warwick Convention And Visitors Bureau employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Providence-Warwick Convention And 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, Greater Providence-Warwick Convention And Visitors Bureau generated $3.4m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $2.7m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.0%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE ECONOMIC GROWTH AND DEVELOPMENT OF THE GREATER PROVIDENCE AND WARWICK AREA BY ATTRACTING CONVENTIONS AND VISITOR BUSINESS THROUGH SOLICITATION, SERVICING, MARKETING, AND THE DEVELOPMENT OF CONVENTION, VISITOR AND TOURIST ACTIVITIES IN THE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARTICIPATION IN TRADE SHOWS AND SALES INITIATIVES.
PRODUCTION AND PLACEMENT OF ADVERTISING IN CONSUMER AND TRADE PUBLICATIONS, AND OTHER DIGITAL MEDIA.
MAINTENANCE OF A COMPREHENSIVE WEBSITE THAT INCLUDES INFORMATION ON ALL ASPECTS OF VISITING THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristen Adamo President & CEO | OfficerTrustee | 30 | $137,020 |
Thomas Riel VP Of Sales And Services | 30 | $102,546 | |
John Palumbo Secretary | OfficerTrustee | 1 | $0 |
Farouk Rajab Vice Chair | OfficerTrustee | 1 | $0 |
Eric Weiner Chair | OfficerTrustee | 1 | $0 |
Alyssa Karam Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $149,912 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $787,186 |
| 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 | $937,098 |
| Total Program Service Revenue | $2,461,117 |
| Investment income | $0 |
| 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 | $3,400,025 |
| 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. | $139,457 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $770,557 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $173,778 |
| Payroll taxes | $77,755 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,026 |
| Fees for services: Accounting | $9,973 |
| Fees for services: Lobbying | $16,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $42,639 |
| Advertising and promotion | $55,623 |
| Office expenses | $3,588 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $105,843 |
| Travel | $4,080 |
| 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 | $37,544 |
| Insurance | $13,842 |
| All other expenses | $109,391 |
| Total functional expenses | $2,692,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,017,738 |
| Savings and temporary cash investments | $668,036 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $730,332 |
| 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 | $40,085 |
| Net Land, buildings, and equipment | $72,969 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35,893 |
| Total assets | $2,565,053 |
| Accounts payable and accrued expenses | $180,630 |
| Grants payable | $0 |
| Deferred revenue | $108,967 |
| 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 | $528,346 |
| Total liabilities | $817,943 |
| Net assets without donor restrictions | $1,747,110 |
| 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 | $2,565,053 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Greater Providence-Warwick Convention And Visitors Bureau has recieved totaling $60,000.
| Awarding Organization | Amount |
|---|---|
The Rhode Island Community Foundation Providence, RI PURPOSE: BUY LOCAL RI WINTER 2020/2021 CAMPAIGN | $30,000 |
The Rhode Island Community Foundation Providence, RI PURPOSE: BUY LOCAL RI WINTER 2020/2021 CAMPAIGN | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
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 |
Hedco Inc Hartford, CT | $31,561,156 | $3,183,026 |
The Resource Inc For Community And Economic Development North Eastham, MA | $2,064,773 | $3,152,233 |
New England Council Inc Boston, MA | $13,389,867 | $3,995,081 |
Economic Development Corporation Of New Haven New Haven, CT | $1,820,406 | $2,800,912 |
Windham Regional Community Council Inc Willimantic, CT | $1,698,672 | $3,029,839 |
Main South Community Development Corporation Worcester, MA | $15,010,122 | $3,407,145 |
Center For Economic Democracy Boston, MA | $11,558,653 | $3,979,312 |
Waterbury Development Corporation Waterbury, CT | $8,604,069 | $2,421,027 |
Greater Providence-Warwick Convention And Visitors Bureau Providence, RI | $2,565,053 | $3,400,025 |