Norman Convention & Visitors Bureau
- Assets
- $640.0k
- Revenue
- $689.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Norman, OK
- Founding
- 05/1994
- Data as of
- 06/2022
- EIN
- 73-1432915
Organization Overview
Norman Convention & Visitors Bureau is located in Norman, OK. The organization was established in 1994. 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, Norman Convention & Visitors Bureau employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norman Convention & 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, Norman Convention & Visitors Bureau generated $689.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $971.4k 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
PROMOTING TOURISM IN THE CITY OF NORMAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENCOURAGING, PROMOTING, AND FOSTERING CONVENTION AND TOURISM DEVELOPMENT IN THE CITY OF NORMAN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Schemm Executive Di | Officer | 40 | $143,000 |
Amish Zaver Chair | OfficerTrustee | 2 | $0 |
Kyle Allison Past Chair | OfficerTrustee | 2 | $0 |
Scott Kovalick Treasurer | OfficerTrustee | 2 | $0 |
Helen Green Director | Trustee | 1 | $0 |
Steve Gillis Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $709,930 |
| 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 | $709,930 |
| Total Program Service Revenue | $600 |
| Investment income | $1,861 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$23,011 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $689,380 |
| 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. | $157,656 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $229,487 |
| Pension plan accruals and contributions | $6,545 |
| Other employee benefits | $26,453 |
| Payroll taxes | $28,893 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,983 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $361,209 |
| Office expenses | $31,006 |
| Information technology | $4,875 |
| Royalties | $0 |
| Occupancy | $47,839 |
| Travel | $5,152 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,004 |
| Interest | $4,871 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,038 |
| Insurance | $7,594 |
| All other expenses | $0 |
| Total functional expenses | $971,419 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $590 |
| Savings and temporary cash investments | $626,960 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $600 |
| 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 | $499 |
| Net Land, buildings, and equipment | $11,302 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $639,951 |
| Accounts payable and accrued expenses | $20,437 |
| 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 | $300,000 |
| Total liabilities | $320,437 |
| Net assets without donor restrictions | $319,514 |
| 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 | $639,951 |