Bloomington-Normal Area Convention And Visitors Bureau
- Assets
- $2.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Bloomington, IL
- Founding
- 04/2006
- Data as of
- 06/2023
- EIN
- 33-1037577
Organization Overview
Bloomington-Normal Area Convention And Visitors Bureau is located in Bloomington, IL. The organization was established in 2006. 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 06/2023, Bloomington-Normal Area Convention And Visitors Bureau employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bloomington-Normal Area Convention And 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 06/2023, Bloomington-Normal Area Convention And Visitors Bureau generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $1.4m during the year ending 06/2023. While expenses have increased by 2.5% 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
THE ORGANIZATION WORKS TO ENHANCE THE REGION'S ECONOMIC VITALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BUREAU PROMOTES SPORTING EVENTS, CONVENTIONS, AND TOURISM ATTRACTIONS TRHOUGH SPONSORSHIPS, ADVERTISING, AND SPECIAL EVENTS TO BRING VISITORS TO THE BLOOMINGTON-NORMAL AREA AND THE SURROUNDING COMMUNITIES. FOR INSTANCE, THE BUREAU PRINTS AND DISTRIBUTES VISITOR'S GUIDES IN ILLINOIS, AS WELL AS HOLDING AN ANNUAL YOUTH GOLF TOURNAMENT AND SPONSORING A YOUTH WRESTLING TOURNAMENT, AS WELL AS SEVERAL CONVENTIONS THAT BRING VISITORS TO THE AREA HOTELS AND BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Black Chairman | OfficerTrustee | 1 | $0 |
Cheryl Magnuson Board Member | Trustee | 1 | $0 |
Tari Renner Board Member | Trustee | 1 | $0 |
Justin Boyd Board Member | Trustee | 1 | $0 |
Migidi Tembo Board Member | Trustee | 1 | $0 |
Beth Whisman Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,327,888 |
| 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 | $1,327,888 |
| Total Program Service Revenue | $101,120 |
| Investment income | $1,994 |
| 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 | $1,449,277 |
| 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. | $123,004 |
| Compensation of current officers, directors, key employees. | $49,202 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $248,997 |
| Pension plan accruals and contributions | $3,818 |
| Other employee benefits | $43,897 |
| Payroll taxes | $29,732 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $46,410 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,460 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,353 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,821 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,593 |
| Insurance | $4,573 |
| All other expenses | $212,918 |
| Total functional expenses | $1,437,832 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $562,386 |
| Savings and temporary cash investments | $1,310,270 |
| Pledges and grants receivable | $263,319 |
| Accounts receivable, net | $110,546 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,893 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $238,448 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $159,526 |
| Total assets | $2,647,388 |
| Accounts payable and accrued expenses | $61,265 |
| Grants payable | $0 |
| Deferred revenue | $163,875 |
| 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 | $159,526 |
| Total liabilities | $384,666 |
| Net assets without donor restrictions | $2,259,229 |
| Net assets with donor restrictions | $3,493 |
| 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 | $2,647,388 |