Metropolitan Detroit Convention & Vistors Bureau
- Assets
- $24.9m
- Revenue
- $21.6m
- Investments
- $0.0
- Employees
- 66
- Location
- Detroit, MI
- Founding
- 10/1934
- Data as of
- 12/2023
- EIN
- 38-0478370
Organization Overview
Metropolitan Detroit Convention & Vistors Bureau is located in Detroit, MI. The organization was established in 1934. 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 12/2023, Metropolitan Detroit Convention & Vistors Bureau employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Detroit Convention & Vistors Bureau 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 12/2023, Metropolitan Detroit Convention & Vistors Bureau generated $21.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $17.7m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO MARKET AND SELL THE METRO DETROIT REGION TO BUSINESS AND LEISURE VISITORS IN ORDER TO MAXIMIZE ECONOMIC IMPACT; CONTINUOUS IMPROVEMENT OF THE REGION AS A DYNAMIC AND MEMORABLE TOURISM DESTINATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS
ALL OTHER ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claude Molinari President & | OfficerTrustee | 40 | $334,666 |
David Beachnau Exec. VP Of | OfficerTrustee | 40 | $231,587 |
Sajid A Zuberi VP Finance/a | OfficerTrustee | 40 | $220,796 |
Susan Richardson V P Of Sales | OfficerTrustee | 40 | $192,804 |
Christopher Moyer Senior Dir./ | OfficerTrustee | 40 | $155,044 |
Andrea Cadotto Ass Dir Sale | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $57,901 |
| Noncash contributions included in lines 1a–1f | $33,181 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $57,901 |
| Total Program Service Revenue | $19,610,172 |
| Investment income | $326,973 |
| 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 | $21,621,370 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,315,697 |
| Pension plan accruals and contributions | $1,259,573 |
| Other employee benefits | $0 |
| Payroll taxes | $321,800 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $821,868 |
| Advertising and promotion | $3,280,633 |
| Office expenses | $72,658 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $349,621 |
| Travel | $0 |
| 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 | $161,877 |
| Insurance | $103,329 |
| All other expenses | $793,915 |
| Total functional expenses | $17,732,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,816,461 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,871,525 |
| 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 | $1,744,291 |
| Net Land, buildings, and equipment | $395,768 |
| Investments—publicly traded securities | $14,321,275 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,721,591 |
| Total assets | $24,870,911 |
| Accounts payable and accrued expenses | $1,432,066 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,484,896 |
| Total liabilities | $3,916,962 |
| Net assets without donor restrictions | $18,453,949 |
| Net assets with donor restrictions | $2,500,000 |
| 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 | $24,870,911 |