The Convention And Visitors Bureau Of Greater Cleveland Inc
- Assets
- $25.3m
- Revenue
- $17.4m
- Investments
- $0.0
- Employees
- 49
- Location
- Cleveland, OH
- Founding
- 01/1938
- Data as of
- 12/2021
- EIN
- 34-0149652
Organization Overview
The Convention And Visitors Bureau Of Greater Cleveland Inc, operating under the name Destination Cleveland, is located in Cleveland, OH. The organization was established in 1938. 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 12/2021, Destination Cleveland employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Destination Cleveland 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, Destination Cleveland generated $17.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $12.3m during the year ending 12/2021. While expenses have increased by 2.2% 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.
Since 2015, Destination Cleveland has awarded 19 individual grants totaling $4,187,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DRIVE ECONOMIC IMPACT AND STIMULATE COMMUNITY VITALITY FOR GREATER CLEVELAND THROUGH MEMORABLE LEISURE, CONVENTION AND BUSINESS TRAVEL EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALLOCATION OF FUNDS TO CHANGE PERCEPTIONS OF CLEVELAND AS A DESTINATION CITY, INCREASE DEMAND FOR CLEVELAND AS A DESTINATION AND AS THE HOST OF MEETINGS, CONVENTIONS AND EVENTS, AND ENCOURAGE AREA RESIDENTS TO SUPPORT LOCAL BUSINESSES AS THEY CONTINUED TO COPE WITH THE ECONOMIC CHALLENGES OF THE GLOBAL PANDEMIC.
EXPENSES RELATED TO PURSUING AND BOOKING MEETINGS, CONVENTIONS AND EVENTS TO BE HOSTED IN CLEVELAND. ALSO INCLUDES EXPENSES RELATED TO SERVICING SECURED EVENTS TO CREATE MEMORABLE AND PERSONAL EXPERIENCES THAT ARE AUTHENTIC TO CLEVELAND, WHICH CONTRIBUTE TO INCREASING POSITIVE PERCEPTIONS OF CLEVELAND.
EXPENSES INCURRED TO UPDATE AND MAINTAIN VISITOR EXPERIENCE ASSETS, INCLUDING WAYFINDING SYSTEM AND BRAND SIGNAGE; IMPLEMENTATION - IN CONJUNCTION WITH COMMUNITY PARTNERS - OF VISITOR ACTIVATIONS RELATED TO HOSTING THE 2021 NFL DRAFT; AND SUPPORT OF COMMUNITY ORGANIZATIONS THAT CONTRIBUTE TO DESTINATION CLEVELAND'S WORK IN THE AREAS OF ATTRACTING PEOPLE TO AND CHANGING PERCEPTIONS OF CLEVELAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gordon Taylor III VP Convention Sales And Services | Officer | 38 | $202,793 |
Colette Jones Chief Marketing Officer | Officer | 38 | $196,402 |
Hannah Belsito Chief Experience Officer | Officer | 38 | $195,644 |
Steven Dieringer Vice President Of Finance | Officer | 38 | $147,870 |
Jennifer Valencic Vice President, Destination Engagement | 38 | $137,222 | |
Rick Wilson Vice President Of Human Resources | 38 | $122,971 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Soulpancake Content Editing | 12/30/19 | $350,000 |
Hardy Designs Design & Consulting | 12/30/19 | $243,371 |
Stelico Consulting Group Data Research | 12/30/19 | $173,385 |
Fuseideas Llc Marketing Services | 12/30/19 | $118,035 |
Kohrman Jackson & Krantz Legal Services | 12/30/19 | $166,683 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,669,002 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,261 |
| Noncash contributions included in lines 1a–1f | $5,761 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,696,263 |
| Total Program Service Revenue | $14,632,364 |
| Investment income | $59,724 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,195 |
| 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 | $17,425,666 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $425,000 |
| 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. | $808,474 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,074,836 |
| Pension plan accruals and contributions | $20,673 |
| Other employee benefits | $327,892 |
| Payroll taxes | $318,311 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,316 |
| Fees for services: Accounting | $44,409 |
| Fees for services: Lobbying | $44,561 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,151,013 |
| Advertising and promotion | $2,054,133 |
| Office expenses | $182,232 |
| Information technology | $549,294 |
| Royalties | $0 |
| Occupancy | $481,025 |
| Travel | $434,172 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $395,099 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $723,465 |
| Insurance | $38,426 |
| All other expenses | $213,029 |
| Total functional expenses | $12,338,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,485,253 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,629,519 |
| Accounts receivable, net | $81,350 |
| 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 | $704,722 |
| Net Land, buildings, and equipment | $1,615,209 |
| Investments—publicly traded securities | $4,753,457 |
| Investments—other securities | $0 |
| Investments—program-related | $101,004 |
| Intangible assets | $0 |
| Other assets | $926,404 |
| Total assets | $25,296,918 |
| Accounts payable and accrued expenses | $736,558 |
| Grants payable | $0 |
| Deferred revenue | $173,826 |
| 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 | $352,140 |
| Total liabilities | $1,262,524 |
| Net assets without donor restrictions | $13,887,335 |
| Net assets with donor restrictions | $10,147,059 |
| 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 | $25,296,918 |
Grants Awarded
Over the last fiscal year, The Convention And Visitors Bureau Of Greater Cleveland Inc has awarded $425,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Cleveland, OH PURPOSE: Operating support to organization with similar mission. | $375,000 |
Cleveland, OH PURPOSE: Operating support to an organization with similar mission. | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Convention And Visitors Bureau Of Greater Cleveland Inc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Downtown Cleveland Alliance Cleveland, OH PURPOSE: NEIGHBORHOOD & ECONOMIC DEVELOPMENT | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marshall University Research Corporation Huntington, WV | $66,297,155 | $55,595,334 |
Pidc-Developement Management Corporation Philadelphia, PA | $0 | $30,722,052 |
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Delaware River Waterfront Corporation Philadelphia, PA | $26,551,411 | $24,883,136 |
T R W I B Inc Pittsburgh, PA | $14,392,055 | $22,959,509 |
Invest Detroit Foundation Detroit, MI | $154,389,743 | $12,808,930 |
Wright Brothers Institute Inc Dayton, OH | $23,307,656 | $22,085,089 |
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |