Memphis Convention And Visitors Bureau is located in Memphis, TN. The organization was established in 1978. 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, Memphis Convention And Visitors Bureau employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis Convention And Visitors 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 06/2022, Memphis Convention And Visitors Bureau generated $18.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $14.5m during the year ending 06/2022. While expenses have increased by 6.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONVENTION SALES & SERVICES - PROMOTE MEMPHIS TO VARIOUS SEGMENTS OF MEETING AND CONVENTION MARKETS, AMATEUR SPORTS MARKETS AND TOUR AND TRAVEL MARKETS TO ATTRACT GROUPS, MEETINGS AND EVENTS TO THE CITY.
COMMUNITY DEVELOPMENT; SPORTS DEVELOPMENT; GOVERNMENT RELATIONS; TRAINING
DESTINATION MARKETING & MEMBER SERVICES - PROMOTE MEMPHIS AS A TOURIST DESTINATION BY GENERATING MEDIA COVERAGE, ADVERTISING MEMPHIS WORLDWIDE AND PRODUCING MAP AND TOURIST GUIDES.
VISITOR INFORMATION CENTERS - PROVIDE HOSPITABLE FACILITIES WITH STAFF THAT OFFERS FRIENDLY SERVICE AND ACCURATE INFORMATION WHICH ENCOURAGES VISITORS TO CONSIDER MEMPHIS A DESIRABLE TRAVEL DESTINATION AND INCREASE THE LENGTH OF STAY IN MEMPHIS AND SHELBY COUNTY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Sally Pace Chair | OfficerTrustee | 1 | $0 |
Doug Browne Vice Chair | OfficerTrustee | 1 | $0 |
Harold Graeter Secretary | OfficerTrustee | 1 | $0 |
Scott Brockman Treasurer | OfficerTrustee | 1 | $0 |
Cindy Addison Board Member | Trustee | 1 | $0 |
Mark Billingsley Board Member | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Miles Partnership Lllp Digital & Print Advertising | 6/29/22 | $1,918,233 |
Memphis Studios Inc Advertising | 6/29/22 | $166,750 |
Metropolitan Memphis Hotel & Lodging Ass Education | 6/29/22 | $185,350 |
Wgc Fedex St Jude Invitational Advertising | 6/29/22 | $221,571 |
Doug Carpenter & Associates Advertising | 6/29/22 | $161,750 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $2,395 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $17,767,038 |
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 | $17,769,433 |
Total Program Service Revenue | $0 |
Investment income | $379,862 |
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 | $8,048 |
Miscellaneous Revenue | $0 |
Total Revenue | $18,472,607 |
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. | $1,426,454 |
Compensation of current officers, directors, key employees. | $1,356,625 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,359,201 |
Pension plan accruals and contributions | $166,363 |
Other employee benefits | $256,767 |
Payroll taxes | $222,958 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $28,477 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $35,457 |
Fees for services: Other | $498,327 |
Advertising and promotion | $8,362,809 |
Office expenses | $565,675 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $127,926 |
Travel | $0 |
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 | $251,128 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $14,540,287 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,426,274 |
Savings and temporary cash investments | $18,100,777 |
Pledges and grants receivable | $16,393,483 |
Accounts receivable, net | $449,098 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $32,111 |
Prepaid expenses and deferred charges | $405,773 |
Net Land, buildings, and equipment | $2,518,893 |
Investments—publicly traded securities | $7,546,720 |
Investments—other securities | $1,608 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $51,973 |
Total assets | $46,926,710 |
Accounts payable and accrued expenses | $3,879,454 |
Grants payable | $0 |
Deferred revenue | $13,496 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $51,973 |
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 | $3,944,923 |
Net assets without donor restrictions | $31,248,069 |
Net assets with donor restrictions | $11,733,718 |
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 | $46,926,710 |