Akron Convention And Visitors Bureau Inc
- Assets
- $6.5m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 94
- Location
- Akron, OH
- Founding
- 08/1976
- Data as of
- 12/2021
- EIN
- 34-1131390
Organization Overview
Akron Convention And Visitors Bureau Inc, operating under the name John S Knight Center, is located in Akron, OH. The organization was established in 1976. 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. As of 12/2021, John S Knight Center employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. John S Knight Center 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, John S Knight Center generated $5.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $4.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE CITY OF AKRON AND THE COUNTY OF SUMMIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE BUREAU IS TO ENCOURAGE NEW BUSINESS, PROMOTE TOURISM, INCREASE VISIBILITY AND GAIN FURTHER RECOGNITION OF AKRON AND SUMMIT COUNTY AS A VIBRANT BUSINESS AND TOURISM DESTINATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregg Mervis President & CEO | Officer | 40 | $158,051 |
Robert Czup Operations Manager | 40 | $126,168 | |
Ronald Dorsey Jr Director Of Food Service | 40 | $115,694 | |
Keith Pomeraning Director | 40 | $100,185 | |
Morell Mendiola CFO | Officer | 40 | $97,655 |
Garry Kirkland Chairman Of The Board | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Akron-canton Stage Employees Union Labor | 12/30/19 | $246,888 |
Blue Ribbon Meats Food Purveyor | 12/30/19 | $119,970 |
Ohio Hotel & Lodging Association Industry Trade Group | 12/30/19 | $131,608 |
Northern Haserot Food Purveyor | 12/30/19 | $226,384 |
The K Company Building Maintenance | 12/30/19 | $109,013 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,943,109 |
| 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 | $3,943,109 |
| Total Program Service Revenue | $1,471,498 |
| Investment income | $3,828 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $98,800 |
| 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 | $5,523,217 |
| 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. | $286,481 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,864,352 |
| Pension plan accruals and contributions | $67,420 |
| Other employee benefits | $286,501 |
| Payroll taxes | $170,268 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,216 |
| Fees for services: Accounting | $28,439 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $76,022 |
| Advertising and promotion | $375,984 |
| Office expenses | $40,360 |
| Information technology | $21,727 |
| Royalties | $0 |
| Occupancy | $695,362 |
| Travel | $8,930 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $595 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $153,256 |
| Insurance | $95,994 |
| All other expenses | $20,308 |
| Total functional expenses | $4,622,634 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,726,296 |
| Savings and temporary cash investments | $1,536,548 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,450,287 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $44,589 |
| Prepaid expenses and deferred charges | $103,049 |
| Net Land, buildings, and equipment | $599,455 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,460,224 |
| Accounts payable and accrued expenses | $551,272 |
| Grants payable | $0 |
| Deferred revenue | $1,081,280 |
| 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 | $831,117 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,463,669 |
| Net assets without donor restrictions | $1,727,686 |
| Net assets with donor restrictions | $2,268,869 |
| 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 | $6,460,224 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cincinnati Usa Regional Chamber Cincinnati, OH | $21,203,474 | $18,734,397 |
Greater Columbus Convention & Visitors Bureau Columbus, OH | $8,565,444 | $15,584,006 |
Ann Arbor Spark Ann Arbor, MI | $15,665,812 | $11,784,140 |
Philadelphia Convention & Visitors Bureau Of The Chamber Of Commerce Philadelphia, PA | $21,636,489 | $20,955,897 |
The Chamber Of Commerce For Greater Philadelphia Philadelphia, PA | $17,253,411 | $11,743,354 |
Indiana Chamber Of Commerce Inc Indianapolis, IN | $7,894,910 | $10,261,881 |
Greater Indianapolis Chamber Of Commerce Inc Indianapolis, IN | $15,080,070 | $11,498,115 |
Small Business Assoc Of Mich Lansing, MI | $1,798,183 | $7,497,354 |
Ohio Association Of Realtors Columbus, OH | $13,314,743 | $8,037,922 |
Ohio Chamber Of Commerce Columbus, OH | $30,926,421 | $7,246,853 |
Indiana Association Of Realtors Inc Indianapolis, IN | $16,694,252 | $6,642,922 |
Louisville Chamber Of Commerce Inc Louisville, KY | $4,510,911 | $5,726,033 |