Virginia Beach Hotel Association
- Assets
- $535.2k
- Revenue
- $240.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Virginia Beach, VA
- Founding
- 10/1989
- Data as of
- 06/2021
- EIN
- 54-0857374
Organization Overview
Virginia Beach Hotel Association is located in Virginia Beach, VA. The organization was established in 1989. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. As of 06/2021, Virginia Beach Hotel Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Beach Hotel Association 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 06/2021, Virginia Beach Hotel Association generated $240.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $242.9k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE VIRGINIA BEACH HOTEL ASSOCIATION IS A REPRESENTATIVE TRADE ASSOCIATION SERVING THE VIRGINIA BEACH HOTEL INDUSTRY TO ADVANCE AND PROMOTE ETHICAL PRACTICES; EDUCATION AND TRAINING OF EMPLOYEES; COOPERATION WITH LOCAL GOVERNMENT OFFICIALS AND CITY LEADERS; AND A SPIRIT OF FRIENDLY COOPERATION AMONG MEMBERS TO BETTER SERVE THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING TOURISM AND EDUCATING THE COMMUNITY TO THE BENEFIT OF THE HOSPITALITY INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diana Burke Executive Director | Officer | 40 | $86,989 |
Russell Lyons President Through 12/31/20 | OfficerTrustee | 2 | $0 |
Linwood Branch Vice President | OfficerTrustee | 2 | $0 |
John Zirkle President | OfficerTrustee | 2 | $0 |
Duane Gauthier Secretary | OfficerTrustee | 2 | $0 |
Oliver Joyner Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,800 |
| 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 | $35,800 |
| Total Program Service Revenue | $198,423 |
| Investment income | $6,337 |
| 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 | $240,560 |
| 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. | $112,998 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,892 |
| Pension plan accruals and contributions | $1,497 |
| Other employee benefits | $13,531 |
| Payroll taxes | $11,700 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,570 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,275 |
| Office expenses | $126 |
| Information technology | $7,536 |
| Royalties | $0 |
| Occupancy | $18,874 |
| Travel | $102 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,401 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,261 |
| All other expenses | $1,285 |
| Total functional expenses | $242,940 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,315 |
| Savings and temporary cash investments | $399,077 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,770 |
| Other assets | $7,077 |
| Total assets | $535,239 |
| Accounts payable and accrued expenses | $0 |
| 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 | $7,684 |
| Total liabilities | $7,684 |
| Net assets without donor restrictions | $0 |
| 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 | $527,555 |
| Total liabilities and net assets/fund balances | $535,239 |
Grants Awarded
Over the last fiscal year, Virginia Beach Hotel Association has awarded $17,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Virginia Beach, VA PURPOSE: SUPPORT MISSION OF ORGANIZATION | $10,000 |
Virginia Beach, VA PURPOSE: BOARDWALK ART SHOW | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Park Foundation Washington, DC | $340,217,064 | $99,935,213 |
Goodwill Industries International Inc Rockville, MD | $67,550,943 | $66,436,715 |
Us National Whitewater Center Inc Charlotte, NC | $52,351,525 | $16,921,663 |
Appalachian Trail Conservancy Harpers Ferry, WV | $31,433,012 | $14,528,575 |
Kaboom Inc Washington, DC | $33,837,191 | $27,499,929 |
21st Century Parks Inc Louisville, KY | $96,568,908 | $4,921,884 |
Lake Ridge Parks & Recreation Association Inc Lake Ridge, VA | $11,873,713 | $7,365,440 |
Lakeshore Park Conservancy Knoxville, TN | $19,542,630 | $6,010,930 |
Shelby Farms Park Conservancy Memphis, TN | $6,955,555 | $6,186,773 |
Friends Of Great Smoky Mountain National Park Inc Kodak, TN | $24,666,709 | $4,762,551 |
Dorothea Dix Park Conservancy Raleigh, NC | $6,442,747 | $1,230,438 |
National Parking Association Inc Washington, DC | $2,660,652 | $3,146,199 |