Richfield Tourism Promotion Board Inc

Organization Overview

Richfield Tourism Promotion Board Inc is located in Richfield, MN. The organization was established in 2004. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richfield Tourism Promotion Board Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 12/2023, Richfield Tourism Promotion Board Inc generated $152.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $178.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE RICHFIELD TOURISM PROMOTION BOARD, INC. (THE BOARD) IS A MINNESOTA NON-PROFIT CORPORATION FORMED IN JULY 1990. THE BOARD'S PURPOSE IS TO PROMOTE THE CITY OF RICHFIELD, MINNESOTA AS A TOURIST DESTINATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE RICHFIELD TOURISM PROMOTION BOARD, INC. (THE BOARD) IS A MINNESOTA NON-PROFIT CORPORATION FORMED IN JULY 1990. THE BOARD'S PURPOSE IS TO PROMOTE HOSPITALITY-RELATED BUSINESSES, ACTIVITIES, AND EVENTS FOR THE CITY OF RICHFIELD, MINNESOTA. THE BOARD IS GOVERNED BY A SEVEN-MEMBER BOARD OF DIRECTORS APPOINTED BY THE CITY OF RICHFIELD, MINNESOTA. THE BOARD IS FUNDED BY A 3% LODGING TAX OF LOCAL HOTELS AND MOTELS, WHICH IS IMPOSED BY THE CITY OF RICHFIELD UNDER MINNESOTA STATUTE 469.190.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
Raj Bhakta
Vice President
$0
Karl Grunz
Treasurer
$0
Thuy Nguyen
Secretary
$0
Katie Rodriguez
Director
$0
Erika Ciminski
Director
$0
Mary Kindseth
Director
$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$5,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$5,000
Total Program Service Revenue$147,185
Investment income $0
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 $152,185

Peer Organizations

Organization NameAssets
Wisconsin Dells Visitor & Convention Bureau
Wisconsin Dells, WI
$18,501,261
Southern Minnesota Initiative Foundation
Owatonna, MN
$22,164,085
Great Plains Institute For Sustainable Development
Minneapolis, MN
$13,914,854
Vocational Development Center Inc
Council Bluffs, IA
$17,109,339
Southern Iowa Economic Development Association
Ottumwa, IA
$15,400,192
Metropolitan Economic Development Association
Minneapolis, MN
$6,566,738
Wbd Inc
Madison, WI
$9,133,880
Minneapolis - St Paul Regional Economic Development Partnership
Saint Paul, MN
$8,008,937
Greater Madison Convention & Visitor Bureau Inc
Madison, WI
$7,273,844
Center For Economic Inclusion
Saint Paul, MN
$4,329,571
Madison Development Corporation
Madison, WI
$4,946,557
Wolf Run Village Inc
Watford City, ND
$4,378,888
Madison Region Economic Partnership Inc
Madison, WI
$3,733,917
Minnesota Business Finance Corporation
St Cloud, MN
$4,245,343
South Segment Community Development Corporation
Halliday, ND
$4,587,145
Fargo Moorhead Convention & Visitors Bureau Inc
Fargo, ND
$4,346,413
Rapid City Economic Development Foundation
Rapid City, SD
$2,494,984
Milwaukee Downtown Inc
Milwaukee, WI
$3,612,284
Four Bands Community Fund Inc
Eagle Butte, SD
$5,954,021
Nextstage
Bloomington, MN
$2,737,361
Grow South Dakota
Sisseton, SD
$9,966,587
Eau Claire Area Convention And Visitors Bureau Inc
Eau Claire, WI
$3,160,052
Emerging Prairie
Fargo, ND
$1,996,803
Destination Medical Center Economic Development Agency
Rochester, MN
$2,292,653
First American Capital Corporation Inc
Hales Corners, WI
$3,163,251

Create an account to unlock the data you need.

or