Chicago Convention & Tourism Bureau Inc
- Assets
- $13.6m
- Revenue
- $19.0m
- Investments
- $0.0
- Employees
- 79
- Location
- Chicago, IL
- Founding
- 08/1971
- Data as of
- 12/2021
- EIN
- 36-2704879
Organization Overview
Chicago Convention & Tourism Bureau Inc, operating under the name Choose Chicago, is located in Chicago, IL. The organization was established in 1971. 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, Choose Chicago employed 79 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Choose Chicago 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, Choose Chicago generated $19.0m 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 (9.3%) each year. All expenses for the organization totaled $20.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.0%) 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 CHICAGO TO THE DOMESTIC, NATIONAL, AND INTERNATIONAL LEISURE AND BUSINESS TRAVELER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS A RESULT, 30.5 MILLION DOMESTIC AND INTERNATIONAL TRAVELERS VISITED CHICAGO IN 2021. THIS WAS AN INCREASE OF 87% OVER PANDEMIC INFLUENCED LOW OF ONLY 16.3 MILLION. TOURISM SPENDING, ESTIMATED AT $9.8 BILLION, GENERATED $1.3 BILLION IN STATE AND LOCAL TAX REVENUE AND SUPPORTED AN ESTIMATED 95,000 TOURISM RELATED JOBS. OVERNIGHT VISITORS TO CHICAGO GENERATED OVER $63 MILLION IN CHICAGO HOTEL TAX REVENUE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Whitaker CEO | Officer | 0 | $311,146 |
Meyer W James CFO | Officer | 0 | $268,820 |
Rita Chen VP Marketing | Officer | 0 | $197,294 |
Rose Horcher VP Client Services | 0 | $188,564 | |
Michelle Gonzalez VP Media Relation | 0 | $188,028 | |
Dawn Young VP Sales | Officer | 0 | $184,801 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
James Beard Foundation Event Services | 12/30/21 | $930,000 |
Envisionit Media Purchases | 12/30/21 | $4,392,590 |
Travelscape Llc Media Purchases | 12/30/21 | $720,619 |
Neal & Leroy Llc Legal Services | 12/30/21 | $284,293 |
October Llc Video Production | 12/30/21 | $267,245 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,600,726 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,973,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,257,009 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,831,235 |
| Total Program Service Revenue | $177,580 |
| Investment income | $1,263 |
| 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 | $19,015,508 |
| 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. | $2,694,698 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,861,720 |
| Pension plan accruals and contributions | $135,804 |
| Other employee benefits | $516,426 |
| Payroll taxes | $392,834 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $309,989 |
| Fees for services: Accounting | $27,741 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,466,327 |
| Advertising and promotion | $7,347,143 |
| Office expenses | $886,021 |
| Information technology | $351,543 |
| Royalties | $0 |
| Occupancy | $230,162 |
| Travel | $185,909 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $281,705 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,902 |
| Insurance | $49,082 |
| All other expenses | -$63,842 |
| Total functional expenses | $20,181,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,126,013 |
| Savings and temporary cash investments | $1,009,057 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,621,901 |
| 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 | $670,830 |
| Net Land, buildings, and equipment | $62,193 |
| Investments—publicly traded securities | $150,216 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,640,210 |
| Accounts payable and accrued expenses | $1,653,784 |
| Grants payable | $0 |
| Deferred revenue | $1,070,323 |
| 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 | $3,364,661 |
| Total liabilities | $6,088,768 |
| Net assets without donor restrictions | $7,357,242 |
| Net assets with donor restrictions | $194,200 |
| 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 | $13,640,210 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chicago Convention & Tourism Bureau Inc has recieved totaling $11,550.
| Awarding Organization | Amount |
|---|---|
United Steelworkers Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $11,550 |
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 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
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 |