Fargo Moorhead Convention & Visitors Bureau Inc
- Assets
- $5.4m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 18
- Location
- Fargo, ND
- Founding
- 09/1981
- Data as of
- 08/2023
- EIN
- 45-0363220
Organization Overview
Fargo Moorhead Convention & Visitors Bureau Inc is located in Fargo, ND. The organization was established in 1981. 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 08/2023, Fargo Moorhead Convention & Visitors Bureau Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fargo Moorhead Convention & Visitors Bureau Inc 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 08/2023, Fargo Moorhead Convention & Visitors Bureau Inc generated $4.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $3.5m during the year ending 08/2023. While expenses have increased by 1.3% per year over the past 7 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.
Since 2015, Fargo Moorhead Convention & Visitors Bureau Inc has awarded 99 individual grants totaling $4,271,011. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP AND PROMOTE A SHARED COMMUNITY VISION ENHANCING THE ATTRACTIVENESS OF THE REGION FOR VISITORS & RESIDENTS ALIKE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR PRIMARY EXEMPT PURPOSE IS TO ENHANCE THE ECONOMIC LIFE OF THE COMMUNITY (FARGO, MOORHEAD & WEST FARGO) BY ATTRACTING ALL VARIETIES OF VISITORS. THIS INCLUDES, BUT IS NOT LIMITED TO, LEISURE TRAVELERS, BUSINESS TRAVELERS, GROUP TOURS, MEETINGS AND CONFERENCES, AND YOUTH AND ADULT SPORTING EVENTS. TO THAT END, WE MARKET THE COMMUNITY AND ITS ASSETS IN A VARIETY OF DIFFERENT WAYS, INCLUDING DIGITAL, SOCIAL MEDIA, PRINT AND BROADCAST ADVERTISING; ATTENDANCE AT TRADE SHOWS FOR MEETING AND SPORTING EVENT PLANNERS; MEMBERSHIP IN ORGANIZATIONS WITH WHICH WE CAN COLLABORATE IN PURSUIT OF OUR PRIMARY GOAL. AS PART OF OUR EFFORTS TO ATTRACT SUCH EVENTS, WE PROVIDE A VARIETY OF EVENT ASSISTANCE, BOTH IN THE FORM OF CASH ASSISTANCE AND SERVICES TO CONFERENCES AND TOURNAMENTS, AS NEEDED. SERVICES INCLUDE THE PRINTING OF NAME BADGES AND SIGNAGE, AS WELL AS ON-SITE STAFFING FOR REGISTRATION.
THE FARGO-MOORHEAD CVB OPERATES A HOUSING BUREAU AS A SERVICE TO LOCAL GROUPS WHO SPONSOR YOUTH AND ADULT SPORTS TOURNAMENTS (YOUTH HOCKEY, SOCCER & BASEBALL, ADULT SOFTBALL ETC.). IT'S ALSO AVAILABLE FOR CONFERENCE SPONSORS BUT IS PRIMARILY USED BY SPORTING GROUPS. IN A TYPICAL YEAR OUR HOUSING STAFF WILL DEAL WITH BETWEEN 40 AND 45 EVENTS.
THE FARGO-MOORHEAD CVB OPERATES A CAPITAL GRANT ("DESTINATION DEVELOPMENT") FUND TO HELP OTHER LOCAL NON-PROFITS ADD, EXPAND OR ENHANCE FACILITIES THAT PLAY A ROLE IN BRINGING VISITORS TO THE COMMUNITY. RECIPIENTS INCLUDE, BUT ARE NOT LIMITED TO, TOURNAMENT FACILITIES, LOCAL ATTRACTIONS AND ARTS GROUPS. IN FY 22-23 OUR BOARD OF DIRECTORS APPROVED CAPITAL GRANTS TO 10 (TEN) DIFFERENT LOCAL ENTITIES. THESE GRANTS ARE DOCUMENTED ON ANOTHER FORM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Peters Chair | OfficerTrustee | 1 | $0 |
Tom Kasper Past Chair | OfficerTrustee | 1 | $0 |
Joe Miller Vice Chair | OfficerTrustee | 1 | $0 |
Kember Anderson Secretary/treasurer | OfficerTrustee | 1 | $0 |
Melissa Richard Director | Trustee | 1 | $0 |
Holly Heitkamp Director | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,225,813 |
| Investment income | $71,132 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$517 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $26,535 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,346,413 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $574,714 |
| Grants and other assistance to domestic individuals. | $3,736 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $162,423 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $667,051 |
| Pension plan accruals and contributions | $17,758 |
| Other employee benefits | $115,094 |
| Payroll taxes | $65,352 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,229 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $122,114 |
| Advertising and promotion | $451,350 |
| Office expenses | $168,613 |
| Information technology | $93,006 |
| Royalties | $0 |
| Occupancy | $196,223 |
| Travel | $190,121 |
| 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 | $38,802 |
| Insurance | $15,987 |
| All other expenses | $7,117 |
| Total functional expenses | $3,465,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,331,278 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $651,169 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $38,743 |
| Prepaid expenses and deferred charges | $13,771 |
| Net Land, buildings, and equipment | $389,008 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,700 |
| Total assets | $5,442,669 |
| Accounts payable and accrued expenses | $122,086 |
| Grants payable | $1,081,387 |
| 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 | $1,203,473 |
| Net assets without donor restrictions | $4,239,196 |
| 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 | $5,442,669 |
Grants Awarded
Over the last fiscal year, Fargo Moorhead Convention & Visitors Bureau Inc has awarded $550,600 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
FM ROTARY FOUNDATION PURPOSE: Natural Playground | $100,000 |
NORTHERN PLAINS BOTANIC SOC PURPOSE: Garden Exhibit | $15,000 |
RED RIVER ZOO PURPOSE: New Exhibit | $62,500 |
MOORHEAD YOUTH LACROSSE ASSOOC PURPOSE: Field Equipment | $8,100 |
CASS COUNTY HISTORICAL SOCIETY PURPOSE: Arthur Town Hall | $100,000 |
FARGO PARK DISTRICT FOUNDATION PURPOSE: Sports Complex | $125,000 |