Albany Convention And Visitors Bureau
- Assets
- $1.2m
- Revenue
- $807.6k
- Investments
- $0.0
- Employees
- 13
- Location
- Albany, GA
- Founding
- 11/2019
- Data as of
- 06/2023
- EIN
- 82-5502373
Organization Overview
Albany Convention And Visitors Bureau is located in Albany, GA. The organization was established in 2019. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Albany Convention And Visitors Bureau employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albany 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 06/2023, Albany Convention And Visitors Bureau generated $807.6k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $785.2k during the year ending 06/2023. 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
THE CVB IS FORMED AND ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR NON- PROFIT TRADE OR BUSINESS DEVELOPMENT PURPOSES. WITHIN THE SCOPE OF THE FOREGOING PURPOSES, AND NOT BY WAY OF LIMITATION, CVB IS FORMED AND ORGANIZED TO PROVIDE FOR THE PROMOTION, STIMULATION, PROCUREMENT AND SERVICING OF CONVENTIONS, CONFERENCES, SEMINARS, SPORTING EVENTS AND SPECIAL EVENTS, ALONG WITH THE DEVELOPMENT OF TOURISM THROUGH ATTRACTION OF VISITORS TO ALBANY; FOSTER BETTER PUBLIC UNDERSTANDING ON THE PART OF INDIVIDUALS AND BUSINESSES OF THE IMPORTANCE OF THE CONVENTIONS AND VISITOR INDUSTRY TO THE LOCAL ECONOMY; AND ADVOCATE FOR AND ASSIST WITH COLLABORATION AND COOPERATION BETWEEN BUSINESSES AND INDUSTRIES SERVICING VISITORS, CONVENTIONS, AND TOURISM IN GENERAL. ALL OF SUCH ACTIONS ARE IN FURTHERANCE OF IMPROVING BUSINESS CONDITIONS IN THE CITY OF ALBANY AND DOUGHERTY COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CVB PROMOTED MANY TRADE SHOWS, CONFERENCES, SPORTING EVENTS, AND OTHER SPECIAL EVENTS RESULTING IN A POSITIVE IMPACT ON THE LOCAL ECONOMY, FOSTERING BUSINESS GROWTH AND DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Morgan Burnette 2023 Director | Trustee | 1 | $0 |
Tommy Gregors 2024 Director | Trustee | 1 | $0 |
Linda Davis 2024 Director | Trustee | 1 | $0 |
Nicole Williams 2024 Director | Trustee | 1 | $0 |
Juwan Wilson 2023 Director | Trustee | 1 | $0 |
Steven Carter City Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $800,000 |
| 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 | $800,000 |
| Total Program Service Revenue | $0 |
| Investment income | $1,038 |
| 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 | $4,754 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $807,562 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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. | $121,063 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $138,677 |
| Pension plan accruals and contributions | $5,504 |
| Other employee benefits | $25,446 |
| Payroll taxes | $17,459 |
| Fees for services: Management | $15,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $235,415 |
| Office expenses | $31,390 |
| Information technology | $29,256 |
| Royalties | $0 |
| Occupancy | $24,972 |
| Travel | $2,921 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,124 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,310 |
| Insurance | $5,388 |
| All other expenses | $1,253 |
| Total functional expenses | $785,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $674,865 |
| Savings and temporary cash investments | $395,175 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,111 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $22,185 |
| Prepaid expenses and deferred charges | $26,625 |
| Net Land, buildings, and equipment | $82,811 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,418 |
| Other assets | $0 |
| Total assets | $1,212,190 |
| Accounts payable and accrued expenses | $80,060 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $28,750 |
| 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 | $9,418 |
| Total liabilities | $118,228 |
| Net assets without donor restrictions | $1,072,835 |
| Net assets with donor restrictions | $21,127 |
| 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 | $1,212,190 |
Grants Awarded
Over the last fiscal year, Albany Convention And Visitors Bureau has awarded $16,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ASU FOUNDATION INC PURPOSE: EVENT MARKETING | $9,000 |
BETTER ALBANY GROUP INCC/O THRONATEESKA HERITAGE FDTN PURPOSE: 2019 STREET FESTIVAL | $7,500 |