Greater Springfield Convention & Visitors Bureau
- Assets
- $1.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, MA
- Founding
- 02/1986
- Data as of
- 06/2022
- EIN
- 22-2659512
Organization Overview
Greater Springfield Convention & Visitors Bureau is located in Springfield, MA. The organization was established in 1986. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Springfield Convention & 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 06/2022, Greater Springfield Convention & Visitors Bureau generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $1.5m 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 PROMOTE WESTERN MASS AS A YEAR ROUND DESTINATION FOR CONVENTIONS, MEETINGS, SPORTS, GROUP TOURS AND LEISURE TRAVEL VIA PROMOTION, ADVERTISING AND MARKETING PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE TOURISM IN WESTERN MASS THROUGH THE VISITORS GUIDE, VARIOUS PRINT PUBLICATIONS AND ON THE INTERNET.
PRESENT HOSPITALITY EXCELLENCE AWARDS TO MEMBERS THROUGHOUT THE REGION.
HOTEL ROOM AGGREGATION FOR CONVENTION CENTER SALES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glenn Welch Treasurer | OfficerTrustee | 0.5 | $0 |
Kay Simpson Chair | OfficerTrustee | 0.5 | $0 |
Mary Kathryn Wydra President | Officer | 37.5 | $0 |
Christopher Crean Director | Trustee | 0.5 | $0 |
Anthony Frasco Immediate Past Chairman | Trustee | 0.5 | $0 |
Shardool Parmar Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $142,875 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $868,546 |
| All other contributions, gifts, grants, and similar amounts not included above | $221,822 |
| Noncash contributions included in lines 1a–1f | $49,845 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,233,243 |
| Total Program Service Revenue | $219,583 |
| Investment income | $724 |
| 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 | $1,453,550 |
| 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. | $141,456 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $145,347 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $67,096 |
| Payroll taxes | $27,054 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,418 |
| Fees for services: Accounting | $39,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $501,962 |
| Office expenses | $4,873 |
| Information technology | $6,253 |
| Royalties | $0 |
| Occupancy | $23,949 |
| Travel | $10,910 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,769 |
| Interest | $183 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,571 |
| All other expenses | $248,244 |
| Total functional expenses | $1,461,094 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30 |
| Savings and temporary cash investments | $1,066,897 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $222,992 |
| 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 | $8,093 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,298,012 |
| Accounts payable and accrued expenses | $142,605 |
| Grants payable | $0 |
| Deferred revenue | $75,964 |
| 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 | $488,938 |
| Total liabilities | $707,507 |
| Net assets without donor restrictions | $121,514 |
| Net assets with donor restrictions | $468,991 |
| 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 | $1,298,012 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Springfield Convention & Visitors Bureau has recieved totaling $97,328.
| Awarding Organization | Amount |
|---|---|
Economic Development Council Of Western Massachusetts Inc Springfield, MA PURPOSE: TO PROVIDE ECONOMIC SUPPORT. | $97,328 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Real Estate Board Of New York Inc New York, NY | $13,608,943 | $14,285,773 |
United States Council For International Business New York, NY | $8,377,861 | $9,810,410 |
Long Island Board Of Realtors Inc West Babylon, NY | $32,824,680 | $7,922,994 |
German American Chamber Of Commerce Inc New York, NY | $3,820,432 | $6,890,973 |
Buffalo Niagara Convention & Vistors Bureau Inc Buffalo, NY | $3,394,435 | $6,164,269 |
Lake Placid Chamber Of Commerce Inc Lake Placid, NY | $4,857,333 | $6,938,582 |
Economic Development Council Of Western Massachusetts Inc Springfield, MA | $1,229,213 | $5,047,431 |
Independent Drivers Guild Inc Long Island City, NY | $5,104,857 | $7,835,962 |
World Trade Centers Association Inc New York, NY | $23,293,174 | $7,185,978 |
Building Contractors Association Inc New York, NY | $2,719,541 | $4,963,157 |
Pension Real Estate Association Hartford, CT | $6,735,705 | $4,410,849 |
Connecticut Association Of Realtors Inc East Hartford, CT | $9,376,383 | $5,792,556 |