Iowa City-Coralville Convention And Vistors Bureau
- Assets
- $584.4k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 11
- Location
- Coralville, IA
- Founding
- 02/1984
- Data as of
- 06/2023
- EIN
- 42-1203842
Organization Overview
Iowa City-Coralville Convention And Vistors Bureau is located in Coralville, IA. The organization was established in 1984. 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 06/2023, Iowa City-Coralville Convention And Vistors Bureau employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa City-Coralville Convention And 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 06/2023, Iowa City-Coralville Convention And Vistors Bureau generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $1.6m during the year ending 06/2023. While expenses have increased by 3.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
THE BUREAU IS ORGANIZED FOR THE PURPOSE OF ADVANCING THE ECONOMIC VITALITY AND QUALITY OF LIFE FOR RESIDENTS AND VISITORS AS IOWA'S PREMIER DESTINATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF THE IOWA CITY/CORALVILLE AREA AS A SITE FOR CONVENTIONS, TOURISM AND OTHER SPECIAL EVENTS TO ATTRACT VISITORS TO THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Soride Director | Trustee | 2 | $0 |
Peter Matthes Past Chair | Trustee | 2 | $0 |
Mitch Gross Treasurer | OfficerTrustee | 2 | $0 |
Shanti Roundtree Chair | OfficerTrustee | 2 | $0 |
Raquishia Harrington Secretary | OfficerTrustee | 2 | $0 |
Dale Arens Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,214,594 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,214,594 |
| Total Program Service Revenue | $141,241 |
| Investment income | $4,950 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$62,760 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$515 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,433,334 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $447,860 |
| 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. | $153,270 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $417,113 |
| Pension plan accruals and contributions | $27,094 |
| Other employee benefits | $34,180 |
| Payroll taxes | $43,110 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,019 |
| Fees for services: Accounting | $8,436 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,424 |
| Information technology | $33,592 |
| Royalties | $0 |
| Occupancy | $20,629 |
| Travel | $7,636 |
| 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 | $24,725 |
| Insurance | $5,231 |
| All other expenses | $47,754 |
| Total functional expenses | $1,618,077 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $430,564 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $153,790 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $584,354 |
| Accounts payable and accrued expenses | $30,503 |
| 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 | $0 |
| Total liabilities | $30,503 |
| Net assets without donor restrictions | $553,851 |
| 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 | $584,354 |