Greater Minneapolis Convention & Visitors Association
- Assets
- $9.0m
- Revenue
- $11.5m
- Investments
- $0.0
- Employees
- 71
- Location
- Minneapolis, MN
- Founding
- 04/1988
- Data as of
- 12/2021
- EIN
- 36-3568407
Organization Overview
Greater Minneapolis Convention & Visitors Association, operating under the name Meet Minneapolis, is located in Minneapolis, MN. The organization was established in 1988. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Meet Minneapolis employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meet Minneapolis 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, Meet Minneapolis generated $11.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $10.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.8%) 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
TO MARKET, SELL, AND MAXIMIZE THE VISITOR EXPERIENCE OF MINNEAPOLIS FOR THE ECONOMIC BENEFIT OF OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INTEGRATED SALES AND MARKETING PLAN INCLUDES DETAILED INITIATIVES, ALL ALIGNED TO PROMOTE THE CONVENTION CENTER SPECIFICALLY AND DESTINATION MINNEAPOLIS OVERALL AND TO PROMOTE THE MINNEAPOLIS CONVENTION CENTER AS A VENUE FOR TRADE SHOWS AND CONVENTIONS AND TO MARKET MINNEAPOLIS AS A CONVENTION SITE AND DESIRABLE TOURIST DESTINATION. DUE TO THE IMPACT OF THE COVID-19 PANDEMIC, THE HOSPITALITY INDUSTRY EXPERIENCED A SIGNIFICANT DECLINE THE NUMBER OF EVENTS AT THE CONVENTION CENTER. MANY OF THE CANCELLED EVENTS HAVE BEEN RE-BOOKED FOR FUTURE YEARS. INDUSTRY RECOVERY IS ESTIMATED TO LAST SEVERAL YEARS. DESPITE THESE CHALLENGES, MEET MINNEAPOLIS WAS ABLE TO END THE 2020 AND 2021 FISCAL YEAR WITH AN INCREASE IN NET ASSETS WHICH WILL BE DEPLOYED TO ASSIST IN THE RECOVERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melvin Tennant President And Ceo, Board M | OfficerTrustee | 40 | $331,665 |
Brent Forester Sr VP Destination Sales | 40 | $233,336 | |
Courtney Ries Sr VP Branding & Strategy | 40 | $202,557 | |
Sandra Christensen VP Finance & Administration | Officer | 40 | $174,250 |
William Deef Sr VP Public Affairs | 40 | $151,268 | |
Madonna Carr VP Destination Sales | 40 | $137,275 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Connect - Collison And Company Produce Trade Shows For The Travel Marke | 12/30/21 | $362,990 |
Sparkloft Media Social Media | 12/30/21 | $138,499 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,763,094 |
| All other contributions, gifts, grants, and similar amounts not included above | $77,518 |
| Noncash contributions included in lines 1a–1f | $23,480 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,840,612 |
| Total Program Service Revenue | $688,852 |
| Investment income | $402 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$346 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,529,520 |
| 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. | $561,742 |
| Compensation of current officers, directors, key employees. | $561,742 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,387,859 |
| Pension plan accruals and contributions | $269,378 |
| Other employee benefits | $549,903 |
| Payroll taxes | $354,173 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,449 |
| Fees for services: Accounting | $31,021 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $629,331 |
| Advertising and promotion | $985,998 |
| Office expenses | $52,293 |
| Information technology | $41,776 |
| Royalties | $0 |
| Occupancy | $498,492 |
| Travel | $248,511 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $409,706 |
| Insurance | $46,293 |
| All other expenses | $182,710 |
| Total functional expenses | $9,959,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,649,101 |
| Savings and temporary cash investments | $3,660,725 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,172,796 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,455 |
| Prepaid expenses and deferred charges | $597,437 |
| Net Land, buildings, and equipment | $1,928,699 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,011,213 |
| Accounts payable and accrued expenses | $888,779 |
| Grants payable | $0 |
| Deferred revenue | $117,669 |
| 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 | $79,135 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,333,835 |
| Total liabilities | $2,419,418 |
| Net assets without donor restrictions | $6,363,129 |
| Net assets with donor restrictions | $228,666 |
| 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 | $9,011,213 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greater Minneapolis Convention & Visitors Association has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
United States Olympic & Paralympic Committee Colorado Springs, CO PURPOSE: Furthering Olympic and Paralympic Support | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Minneapolis Convention & Visitors Association Minneapolis, MN | $9,011,213 | $11,529,520 |
Exemplar Global Inc Milwaukee, WI | $1,712,970 | $3,279,996 |
Yankton Thrive Inc Yankton, SD | $4,530,814 | $1,616,302 |
Lgbtq Real Estate Alliance Saint Paul, MN | $180,486 | $897,536 |
Minnesota Exploration Association Inc Duluth, MN | $252,703 | $417,376 |
Council Bluffs Convention And Visitors Bureau Council Bluffs, IA | $1,064,909 | $754,066 |
Minnesota Thoroughbred Association Inc Shakopee, MN | $30,505 | $523,741 |
Minnesota Milk Producers Association St Paul, MN | $490,032 | $536,553 |
Bctgm Local Union 167g Grand Forks, ND | $425,609 | $389,085 |
Federation Of Iowa Insurers Des Moines, IA | $466,519 | $394,695 |
Dakota Territory Gun Collectors Association Inc Sioux Falls, SD | $292,018 | $464,684 |
Minnesota Organization For Rehabilitation And Rehabilitation Roseville, MN | $196,021 | $354,372 |