Visit Mason City Inc
- Assets
- $464.8k
- Revenue
- $537.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Mason City, IA
- Founding
- 06/2013
- Data as of
- 09/2023
- EIN
- 45-2436698
Organization Overview
Visit Mason City Inc is located in Mason City, IA. The organization was established in 2013. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Visit Mason City Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Visit Mason City 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 09/2023, Visit Mason City Inc generated $537.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $483.1k during the year ending 09/2023. While expenses have increased by 9.1% 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
ENHANCE THE ECONOMY OF MASON CITY AND PROMOTE THE NORTH IOWA AREA AS A DESTINATION FOR OVERNIGHT VISITORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF TOURISM IN AND AROUND MASON CITY, IOWA BY RECRUITING TRADE SHOWS, CONVENTIONS, SPORTS EVENTS, TOURNAMENTS AND LEISURE TRAVELERS TO THE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Molly Angstman Treasurer | OfficerTrustee | 1 | $0 |
Matt Curtis Director | Trustee | 1 | $0 |
Mary Holmes Secretary | OfficerTrustee | 1 | $0 |
Blair Brody Vice President | OfficerTrustee | 1 | $0 |
Ann Papouchis Director | Trustee | 2 | $0 |
Jessica Finch President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $412,006 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $497,006 |
| Total Program Service Revenue | $10,370 |
| Investment income | $1,296 |
| 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 | $1,023 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $537,195 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,520 |
| 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. | $93,420 |
| Compensation of current officers, directors, key employees. | $32,697 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,808 |
| Pension plan accruals and contributions | $5,523 |
| Other employee benefits | $17,256 |
| Payroll taxes | $13,280 |
| Fees for services: Management | $510 |
| Fees for services: Legal | $155 |
| Fees for services: Accounting | $4,740 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $91,224 |
| Office expenses | $23,090 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $45,092 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,652 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,094 |
| Insurance | $3,506 |
| All other expenses | $0 |
| Total functional expenses | $483,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $271,223 |
| Savings and temporary cash investments | $151,376 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $750 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,930 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $34,509 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $464,788 |
| Accounts payable and accrued expenses | $9,951 |
| 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 | $9,951 |
| Net assets without donor restrictions | $444,108 |
| Net assets with donor restrictions | $10,729 |
| 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 | $464,788 |
Grants Awarded
Over the last fiscal year, Visit Mason City Inc has awarded $40,418 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SOLLAND PURPOSE: PROMOTE TOURISM | $13,771 |
NORTH IOWA BASKETBALL ASSOC PURPOSE: PROMOTE TOURISM | $6,667 |
MIDSTATES HORSE SHOW PURPOSE: PROMOTE TOURISM | $19,980 |