Knoxville Convention & Visitors Bureau Inc
- Assets
- $8.1m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 32
- Location
- Knoxville, TN
- Founding
- 08/2005
- Data as of
- 06/2022
- EIN
- 20-1710722
Organization Overview
Knoxville Convention & Visitors Bureau Inc, operating under the name Visit Knoxville, is located in Knoxville, TN. The organization was established in 2005. 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, Visit Knoxville employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Visit Knoxville is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Visit Knoxville generated $10.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $7.0m during the year ending 06/2022. While expenses have increased by 4.9% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO AID AND SUPPORT GOVERNMENTS AND CITIZENS OF THE CITY OF KNOXVILLE AND KNOX COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARKETING & DEVELOPMENT:IN THE 2022 FISCAL YEAR, THE VISIT KNOXVILLE WEBSITE WAS VISITED 1,947,132 TIMES, AN INCREASE OF 43.7% OVER FISCAL YEAR 2021. A TOTAL OF 80% OF THE AUDIENCE VISITS ORIGINATED FROM OUTSIDE OF THE CITY OF KNOXVILLE. UNIQUE VISITS INCREASED BY 27.38%, PAGEVIEWS INCREASED BY 41.2% AND THE SITE AVERAGED 10,624 PAGEVIEWS PER DAY. THE CONVERSION RATE ON VISIT KNOXVILLE'S DIGITAL ADVERTISING FOR LEISURE TRAVEL AGAIN EXCEEDED INDUSTRY AVERAGES. SOCIAL MEDIA CHANNELS CONTINUE TO SEE INCREASED GROWTH AND ENGAGEMENT
SALES:THE ORGANIZATION HOSTED APPROXIMATELY 51 SITE VISITS REPRESENTING VARIOUS ASSOCIATIONS AND ORGANIZATIONS FROM ALL OVER THE COUNTRY AND PERFORMED FOUR (4) SCOUTING TRIPS FOR POSSIBLE UPCOMING SPORTING EVENTS. THE SALES STAFF ATTENDED 21 TRADE SHOWS AND CONDUCTED MORE THAN 347 SALES APPOINTMENTS/MEETINGS WHILE PROMOTING KNOXVILLE TO MEETING PLANNERS. THESE EFFORTS GENERATED 427 SALES LEADS AND BOOKED 172 EVENTS/GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Billman Chairman | Trustee | 1 | $0 |
Becky Hancock Vice Chairman | Trustee | 1 | $0 |
Michael Riley Secretary | Trustee | 1 | $0 |
Jay Kramer Treasurer | Trustee | 1 | $0 |
Robin Pate Director | Trustee | 1 | $0 |
Rick Emmett Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Simpleview Annual Agreement For Cvb Tourism Softwar | 6/29/22 | $181,339 |
Lsc Communications 2022 Visitor Guide Production & Freight | 6/29/22 | $156,396 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,683,741 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,286 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,694,027 |
| Total Program Service Revenue | $1,121,837 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,811 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $186,849 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,096,746 |
| 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. | $217,075 |
| Compensation of current officers, directors, key employees. | $130,245 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,500,665 |
| Pension plan accruals and contributions | $111,573 |
| Other employee benefits | $127,284 |
| Payroll taxes | $123,238 |
| Fees for services: Management | $29,117 |
| Fees for services: Legal | $80,830 |
| Fees for services: Accounting | $28,695 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,676,380 |
| Office expenses | $333,224 |
| Information technology | $34,622 |
| Royalties | $0 |
| Occupancy | $159,655 |
| Travel | $160,217 |
| 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 | $199,710 |
| Insurance | $0 |
| All other expenses | $1,180,325 |
| Total functional expenses | $6,962,610 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,754,771 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,045,828 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $67,539 |
| Prepaid expenses and deferred charges | $330,359 |
| Net Land, buildings, and equipment | $1,935,951 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,700 |
| Total assets | $8,143,148 |
| Accounts payable and accrued expenses | $640,225 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $640,225 |
| Net assets without donor restrictions | $7,137,423 |
| Net assets with donor restrictions | $365,500 |
| 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 | $8,143,148 |