Fayetteville Area Convention & Visitors Bureau Inc
- Assets
- $2.8m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 16
- Location
- Fayetteville, NC
- Founding
- 09/1997
- Data as of
- 06/2022
- EIN
- 56-2024982
Organization Overview
Fayetteville Area Convention & Visitors Bureau Inc, operating under the name Distinctly Fayetteville, is located in Fayetteville, NC. The organization was established in 1997. 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 06/2022, Distinctly Fayetteville employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Distinctly Fayetteville 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 06/2022, Distinctly Fayetteville generated $3.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $2.7m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
POSITION CUMBERLAND COUNTY AS A DESTINATION FOR MEETINGS, INDIVIDUAL TRAVEL AND SPORTS TOURNAMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BUREAU CREATED A STRATEGIC PLAN, THE FIRST EVER FOR THE ORGANIZATION, WHERE WE WERE IN A TRANSITION PHASE WITH ORGANIZATIONAL RESTRUCTURING AND REBUILDING POST COVID. THE BUREAU'S TEAM SECURED 46 LEADS, WHICH SECURED VISITS REPRESENTING 11,508 ROOM NIGHTS WITH 37,758 ATTENDEES/PARTICIPANTS FOR A DIRECT IMPACT TO OUR ECONOMY OF $3,482,213. A FOCUS WAS TO REBUILD AND OR MAINTAIN EXEPTIONAL RELATIONSHIP WITH OUR CLIENTS, THE HOSPITALITY INDUSTRY, AND THE COMMUNITY.THE BUREAU SWITCHED TO A RESEARCH-BASED MARKETING ORGANIZATION AND CONDUCTED MAJOR INDUSTRY BASED FOUNDATIONAL TOURISM RESEARCH, WHICH INCLUDED THE STAKEHOLDER STUDY, THE SCOUT REPORT, THE TOURISM MARKET STUDY, AND A FOUNDATIONAL TOURISM STUDY. THIS WAS ALSO THE YEAR THAT THE ORGANIZATION ESTABLISHED ITS CORE VALUES OF TRANSPARENCY, VISIBILITY, RESPECTABILITY, PARTNERSHIP, AND LEADERSHIP.FOR THE FIRST TIME IN 17 YEARS WE:- CONDUCTED A REQUEST FOR PROPOSAL PROCESS FOR MARKETING, MEDIA, AND PUBLIC RELATIONS AGENCIES;- SECURED ALL OF OUR ASSETS, TRADEMARKS, AND URLS THAT WERE CONSIDERED THE PREVIOUS AGENCIES' ASSETS;- CREATED COMMUNITY PARTNERSHIPS AND FOCUSED ON LETTING THE COMMUNITY KNOW WHO WE ARE AND WHAT WE DO;- CREATED A NEW METRIC REPORTING TOOL CALLED THE "BUREAU NEWS" WHICH WAS PRESENTED TO BOTH THE ORGANIZATION'S BOARD AND ALSO THE TOURISM DEVELOPMENT AUTHORITY (TDA) BOARD;- DIGITIZED 39 YEARS WORTH OF BUREAU DOCUMENTS THAT FREED UP A TREMENDOUS AMOUNT OF STORAGE SPACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lily Schmidt Director | Trustee | 1 | $0 |
Adam Collier Director | Trustee | 1 | $0 |
Sheba Mcneil Secretary | OfficerTrustee | 1 | $0 |
Jimmy Keefe Director | Trustee | 1 | $0 |
Tony Kotsopoulos Director | Trustee | 1 | $0 |
Manish Mehta Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mediaonedigital Social Media Campaign - Website | 6/29/22 | $161,000 |
Mythic Social Media Campaign - Website | 6/29/22 | $411,582 |
Republix Advertising | 6/29/22 | $156,258 |
Adams & Knight Inc Branding, Design Pr | 6/29/22 | $144,904 |
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 | $3,714,820 |
| Investment income | $934 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,069 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$455 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,709,480 |
| 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. | $199,055 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $474,690 |
| Pension plan accruals and contributions | $24,954 |
| Other employee benefits | $48,114 |
| Payroll taxes | $56,867 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,266 |
| Fees for services: Accounting | $28,765 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $118,657 |
| Advertising and promotion | $1,229,761 |
| Office expenses | $124,876 |
| Information technology | $43,808 |
| Royalties | $0 |
| Occupancy | $19,579 |
| Travel | $157,558 |
| 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 | $101,214 |
| Insurance | $11,637 |
| All other expenses | $3,752 |
| Total functional expenses | $2,749,600 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,319,777 |
| Savings and temporary cash investments | $782,757 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $333,309 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,183 |
| Prepaid expenses and deferred charges | $13,395 |
| Net Land, buildings, and equipment | $232,160 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $91,251 |
| Total assets | $2,784,832 |
| Accounts payable and accrued expenses | $39,063 |
| 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 | $90,657 |
| Total liabilities | $129,720 |
| Net assets without donor restrictions | $2,655,112 |
| 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 | $2,784,832 |