Travel Goods Association
- Assets
- $7.2m
- Revenue
- $594.7k
- Investments
- $855.3k
- Employees
- 5
- Location
- Princeton, NJ
- Founding
- 11/1942
- Data as of
- 12/2021
- EIN
- 13-5580600
Organization Overview
Travel Goods Association is located in Princeton, NJ. The organization was established in 1942. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Travel Goods Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Travel Goods Association 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 12/2021, Travel Goods Association generated $594.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (19.0%) each year. All expenses for the organization totaled $878.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (11.9%) per year over the past 7 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 GROWTH, PROFITABILITY, AND IMAGE OF THE TRAVEL GOODS INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRADE SHOW ALLOWS AN EXCHANGE OF PRODUCT AND SERVICE IDEAS BETWEEN MEMBERS IN A COMMON FORUM.
TRAVEL GOODS MAGAZINE PROVIDES INFORMATION REGARDING THE INDUSTRY AS A WHOLE, INCLUDING NEW DEVELOPMENTS AND ISSUES AFFECTING MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Marini Pittenger President | Officer | 55 | $222,796 |
James T Holmes Vice President | Officer | 55 | $127,649 |
Kim Wong Creative Director | 55 | $108,573 | |
David Lomas Chair | OfficerTrustee | 1 | $0 |
Richard Krulik Vice Chair | OfficerTrustee | 1 | $0 |
Jack Holodnicki Secretary | OfficerTrustee | 1 | $0 |
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 | $68,938 |
| Investment income | $403,157 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $118,393 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $594,725 |
| 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. | $459,018 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $67,399 |
| Pension plan accruals and contributions | $21,924 |
| Other employee benefits | $91,369 |
| Payroll taxes | $36,817 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,486 |
| Fees for services: Accounting | $30,363 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $67,128 |
| Advertising and promotion | $0 |
| Office expenses | $12,368 |
| Information technology | $2,583 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,341 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,877 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,417 |
| Insurance | $16,751 |
| All other expenses | $0 |
| Total functional expenses | $878,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,096 |
| Savings and temporary cash investments | $1,671 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $298 |
| 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 | $68,090 |
| Net Land, buildings, and equipment | $3,766 |
| Investments—publicly traded securities | $6,110,030 |
| Investments—other securities | $855,328 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,172,279 |
| Accounts payable and accrued expenses | $7,230 |
| Grants payable | $0 |
| Deferred revenue | $263,537 |
| 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 | $855,328 |
| Total liabilities | $1,126,095 |
| Net assets without donor restrictions | $6,046,184 |
| 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 | $7,172,279 |
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