Nyc & Company Inc
- Assets
- $19.5m
- Revenue
- $45.0m
- Investments
- $0.0
- Employees
- 121
- Location
- New York, NY
- Founding
- 12/1948
- Data as of
- 06/2023
- EIN
- 13-5531178
Organization Overview
Nyc & Company Inc is located in New York, NY. The organization was established in 1948. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Nyc & Company Inc employed 121 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nyc & Company 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 06/2023, Nyc & Company Inc generated $45.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $48.1m during the year ending 06/2023. While expenses have increased by 4.0% per year over the past 8 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 BUILD NEW YORK CITY'S ECONOMY AND POSITIVE IMAGE THROUGH TOURISM AND CONVENTION DEVELOPMENT, MAJOR EVENTS AND THE MARKETING OF THE CITY ON A WORLDWIDE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARKETING & INTERACTIVE - PROMOTES THE NEW YORK CITY BRAND WORLDWIDE, HIGHLIGHTING ITS SHOPPING, ENTERTAINMENT, CULTURAL AND DINING OFFERINGS. AS PART OF THIS MISSION, THE INTERACTIVE DEPARTMENT UTILIZES TECHNOLOGY AND OUR WEBSITE TO CREATE TOOLS AND MATERIALS THAT BOTH RESIDENTS AND VISITORS CAN USE TO IMPROVE THEIR NEW YORK CITY EXPERIENCE.
MEMBERSHIP DEDICATED TO MAXIMIZING OUR MEMBER BUSINESSES' VISIBILITY TO INTERNATIONAL AND DOMESTIC TRAVELERS (BOTH BUSINESS AND LEISURE), AS WELL AS TO NEW YORK CITY RESIDENTS.
TOURISM - PROMOTES TRAVEL TO NEW YORK CITY ACROSS THE GLOBE, LEVERAGING TRADE RELATIONSHIPS, CREATING COOPERATIVE PROMOTIONS AND WORKING WITH INTERNATIONAL PR TEAMS TO DRIVE TOURISM.
SALES & PARTNERSHIPS - STRATEGICALLY PACKAGES THE CITY'S MARKETING ASSETS - INCLUDING ADVERTISING PROGRAMS, MEDIA RESOURCES, PUBLIC INITIATIVES AND OFFICIAL CITY EVENTS - TO THIRD PARTIES ON A FEE BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Dixon President & CEO | OfficerTrustee | 39 | $664,457 |
Charles Flateman Chairperson | OfficerTrustee | 1 | $0 |
John Calvelli Board Member/executive Committee | Trustee | 1 | $0 |
Arthur Cohen Board Member/executive Committee | Trustee | 1 | $0 |
Vijay Dandapani Board Member/executive Committee | Trustee | 1 | $0 |
Anne Del Castillo Board Member/executive Committee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Universal Mccann Worldwide Inc Advertising Services | 6/29/23 | $7,186,319 |
Decentxposure Llc Digital Marketing Services | 6/29/23 | $7,071,451 |
Hylink Digital Solution Co Ltd Advertising Services | 6/29/23 | $1,064,165 |
Clear Channel Outdoor Holdings Inc Advertising Services | 6/29/23 | $989,384 |
Appnovation Site Design Services | 6/29/23 | $750,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $33,766,185 |
| 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 | $33,766,185 |
| Total Program Service Revenue | $10,162,722 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,080,892 |
| 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 | $45,009,799 |
| 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. | $1,939,131 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,845,029 |
| Pension plan accruals and contributions | $1,299,459 |
| Other employee benefits | $2,453,681 |
| Payroll taxes | $1,052,067 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $59,499 |
| Fees for services: Accounting | $143,619 |
| Fees for services: Lobbying | $152,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,385,595 |
| Advertising and promotion | $15,824,671 |
| Office expenses | $844,406 |
| Information technology | $675,122 |
| Royalties | $0 |
| Occupancy | $1,256,410 |
| Travel | $1,192,602 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,303,295 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,829 |
| Insurance | $132,563 |
| All other expenses | $163,362 |
| Total functional expenses | $48,073,956 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,868,179 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,106,329 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,478 |
| Prepaid expenses and deferred charges | $375,034 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,100,189 |
| Total assets | $19,467,209 |
| Accounts payable and accrued expenses | $3,167,477 |
| Grants payable | $0 |
| Deferred revenue | $4,365,332 |
| 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 | $1,715,636 |
| Total liabilities | $9,248,445 |
| Net assets without donor restrictions | $10,218,764 |
| 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 | $19,467,209 |