Greater Philadelphia Tourism Marketing Corporation
- Assets
- $15.2m
- Revenue
- $19.4m
- Investments
- $0.0
- Employees
- 38
- Location
- Philadelphia, PA
- Founding
- 10/1996
- Data as of
- 09/2023
- EIN
- 23-2847538
Organization Overview
Greater Philadelphia Tourism Marketing Corporation, operating under the name Visit Philadelphia, is located in Philadelphia, PA. 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 09/2023, Visit Philadelphia employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Visit Philadelphia 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 09/2023, Visit Philadelphia generated $19.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $16.2m during the year ending 09/2023. While expenses have increased by 3.6% 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
VISIT PHILADELPHIA IS OUR NAME AND OUR MISSION. AS THE REGION'S OFFICIAL TOURISM MARKETING AGENCY, WE BUILD GREATER PHILADELPHIA'S IMAGE, DRIVE VISITATION AND BOOST THE ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VISIT PHILADELPHIA, THE REGION'S OFFICIAL TOURISM MARKETING AGENCY, BUILDS GREATER PHILADELPHIA'S IMAGE, DRIVES VISITATION AND BOOSTS THE ECONOMY. 2023 CONTINUED TO BE A YEAR OF STRONG RESURGENCE FOR THE TOURISM INDUSTRY. WE LAUNCHED A BRAND-NEW CAMPAIGN, "COME FOR PHILADELPHIA. STAY FOR PHILLY.," TO DRIVE DAY AND OVERNIGHT VISITATION. WE WERE AS COMMITTED AS EVER TO DIVERSITY MARKETING, WITH THE DEBUT OF OUR IN PURSUIT OF A MORE PERFECT UNION SERIES, FOCUSED ON HISTORY AND HERITAGE MONTHS. WE ROLLED OUT A NEW 3-DAY STAY HOTEL PACKAGE, WHICH ALLOWS VISITORS TO STAY TWO NIGHTS AND GET THE THIRD NIGHT FREE. WE EARNED HIGH-PROFILE ACCOLADES THAT HELPED BUILD PHILADELPHIA'S IMAGE NATIONALLY AND DRIVE CIVIC PRIDE LOCALLY. AND WE CONTINUED TO PARTNER WITH LOCAL, REGIONAL AND NATIONAL ORGANIZATIONS TO TOUT GREATER PHILADELPHIA AS A GREAT PLACE TO VISIT ALL THE WHILE REMAINING A MAJOR PRESENCE ONLINE, ON SOCIAL MEDIA AND IN THE PRESS. IN 2023, GREATER PHILADELPHIA WELCOMED 42.9 MILLION VISITORS AND SUPPORTED 187,600 HOSPITALITY-RELATED JOBS. VISIT PHILADELPHIA'S MARKETING PROGRAM GENERATED 374 MILLION AD IMPRESSIONS, 14.2 MILLION PAGEVIEWS ON VISITPHILLY.COM, 35 MILLION SOCIAL MEDIA IMPRESSIONS AND PLACED/TRACKED 2,600+ PHILADELPHIA STORIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Val President & CEO (from June) | OfficerTrustee | 55 | $173,914 |
Neil Frauenglass Chief Marketing Officer | Officer | 50 | $257,166 |
Rachel Ferguson Chief Innovation & Global Officer (thru Mar) | 50 | $231,114 | |
Trino Boix Chief Operating Officer | Officer | 50 | $160,598 |
Michael Newmuis Chief Of External Affairs (thru March) | 50 | $159,205 | |
Cindy Ray Treasurer & CFO (from Aug) | Officer | 50 | $73,796 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Us International Media Llc Media Buying Service | 9/29/23 | $4,320,661 |
Cashman & Associates Public Relations | 9/29/23 | $256,321 |
Philadelphia Tribune Advertising Services | 9/29/23 | $180,893 |
Vault Communications Creative Services | 9/29/23 | $180,290 |
Ipsos Destination And Traveler Research | 9/29/23 | $112,100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $18,438,626 |
| All other contributions, gifts, grants, and similar amounts not included above | $170,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,608,626 |
| Total Program Service Revenue | $447,820 |
| Investment income | $356,095 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $51 |
| 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 | $19,412,592 |
| 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. | $1,113,175 |
| Compensation of current officers, directors, key employees. | $361,628 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,976,004 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $361,238 |
| Payroll taxes | $291,445 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $68,100 |
| Fees for services: Accounting | $70,315 |
| Fees for services: Lobbying | $147,302 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,850 |
| Fees for services: Other | $1,191,468 |
| Advertising and promotion | $5,790,875 |
| Office expenses | $187,389 |
| Information technology | $110,949 |
| Royalties | $0 |
| Occupancy | $337,797 |
| Travel | $136,175 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,459,449 |
| Interest | $40,671 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,312 |
| Insurance | $31,769 |
| All other expenses | $190,910 |
| Total functional expenses | $16,183,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,211,318 |
| Pledges and grants receivable | $125,000 |
| Accounts receivable, net | $1,196,645 |
| 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 | $60,749 |
| Net Land, buildings, and equipment | $898,620 |
| Investments—publicly traded securities | $6,357,500 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,337,484 |
| Total assets | $15,187,316 |
| Accounts payable and accrued expenses | $1,463,665 |
| 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 | $2,270,344 |
| Total liabilities | $3,734,009 |
| Net assets without donor restrictions | $11,078,307 |
| Net assets with donor restrictions | $375,000 |
| 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 | $15,187,316 |