Visit Indy Inc
- Assets
- $21.0m
- Revenue
- $14.6m
- Investments
- $0.0
- Employees
- 75
- Location
- Indianapolis, IN
- Founding
- 08/1946
- Data as of
- 12/2021
- EIN
- 35-0413010
Organization Overview
Visit Indy Inc is located in Indianapolis, IN. The organization was established in 1946. 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, Visit Indy Inc employed 75 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Visit Indy Inc 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, Visit Indy Inc generated $14.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $13.6m during the year ending 12/2021. 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
ADVANCE INDIANAPOLIS TOURISM AND ECONOMIC GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOLICITED AND BOOKED CONVENTIONS, EXPOSITIONS, TRADE SHOWS AND OTHER MEETINGS AND WORKED IN CONJUNCTION WITH THE STAFF OF THE INDIANAPOLIS CONVENTION CENTER ON ALL CONVENTIONS IN THAT FACILITY.
ASSISTED THE CAPITAL IMPROVEMENT BOARD AND MARION COUNTY MEMBER BUSINESSES BY MARKETING THEIR FACILITIES, PRODUCTS AND SERVICES TO VISITING GROUPS, INDIVIDUALS, AND THE LEISURE TRAVELER.
ASSISTED VISITORS BY PROVIDING SERVICES AND INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leonard Hoops President & CEO | OfficerTrustee | 50 | $584,890 |
James Wallis Executive Vice President | Officer | 50 | $273,348 |
Daren Kingi Sr. Vice President Of Sale | Officer | 50 | $256,858 |
Matthew B Carter VP Of Market Intelligence | Officer | 50 | $206,715 |
Christopher Gahl SVP Of Marketing & Communication | Officer | 50 | $203,970 |
Susan Townsend SVP Of Visitor Experience | Officer | 50 | $193,405 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Base2 Inc Information Technology | 12/30/21 | $210,085 |
Pranger Solutions Business Consulting | 12/30/21 | $106,047 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $657,924 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,759,865 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,392,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,810,289 |
| Total Program Service Revenue | $908,027 |
| Investment income | $356,107 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $299,485 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,589,218 |
| 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. | $1,719,186 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,385,975 |
| Pension plan accruals and contributions | $562,427 |
| Other employee benefits | $800,612 |
| Payroll taxes | $389,159 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,948 |
| Fees for services: Accounting | $62,801 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $82,340 |
| Fees for services: Other | $97,577 |
| Advertising and promotion | $2,080,701 |
| Office expenses | $795,547 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $57,648 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $858,235 |
| Interest | $0 |
| Payments to affiliates | $397,454 |
| Depreciation, depletion, and amortization | $245,935 |
| Insurance | $51,883 |
| All other expenses | $18,902 |
| Total functional expenses | $13,639,672 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,692,027 |
| Pledges and grants receivable | $751,287 |
| Accounts receivable, net | $694,827 |
| 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 | $281,578 |
| Net Land, buildings, and equipment | $134,900 |
| Investments—publicly traded securities | $9,427,271 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,981,890 |
| Accounts payable and accrued expenses | $4,204,343 |
| Grants payable | $0 |
| Deferred revenue | $171,924 |
| 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 | $2,445,239 |
| Total liabilities | $6,821,506 |
| Net assets without donor restrictions | $14,160,384 |
| Net assets with donor restrictions | $0 |
| 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 | $20,981,890 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Visit Indy Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Ivy Tech Foundation Inc Indianapolis, IN PURPOSE: TO FURTHER THE EDUCATIONAL MISSION OF IVY TECH COMMUNITY COLLEGE OF INDIANA. | $5,000 |
Ivy Tech Foundation Inc Indianapolis, IN PURPOSE: TO FURTHER THE EDUCATIONAL MISSION OF IVY TECH COMMUNITY COLLEGE OF INDIANA. | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
16 Tech Community Corporation Indianapolis, IN | $90,414,871 | $43,820,376 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |