Colorado Springs Convention Visitors Bureau
- Assets
- $5.6m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 22
- Location
- Colorado Springs, CO
- Founding
- 12/1980
- Data as of
- 12/2021
- EIN
- 84-0809343
Organization Overview
Colorado Springs Convention Visitors Bureau, operating under the name Visit Colorado Springs, is located in Colorado Springs, CO. The organization was established in 1980. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Visit Colorado Springs employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Visit Colorado Springs 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 12/2021, Visit Colorado Springs generated $5.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $4.4m during the year ending 12/2021. While expenses have increased by 2.1% 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.
Since 2014, Visit Colorado Springs has awarded 81 individual grants totaling $1,742,668. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
COLORADO SPRINGS CONVENTION AND VISITORS BUREAU'S, NOW DOING BUSINESS AS VISIT COLORADO SPRINGS (VCOS), PRIMARY EXEMPT PURPOSE IS PROMOTION OF THE PIKES PEAK REGION. VCOS IS DESIGNED TO STIMULATE THE VISITOR INDUSTRY IN THE PIKES PEAK REGION BY CONDUCTING A VARIETY OF PROGRAMS, BOTH CONTINUAL AND INTERMITTENT, TO ENHANCE THE QUANTITY, QUALITY AND VOLUME OF VISITORS TO OUR AREA. IN ADDITION, VCOS WORKS WITH REGIONAL ENTITIES TO IMPROVE THE ENVIRONMENT, FACILITIES AND INFRASTRUCTURE TO ENHANCE VISITOR EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BUREAU ENGAGES IN PROMOTIONAL PROGRAMS WHICH INCLUDE SOLICITING GROUP MEETINGS AND EVENTS, OPERATING VISITOR INFORMATION CENTERS, MAINTAINING A WEBSITE, COMMUNITY INVOLVEMENT IN SPECIAL PROJECTS, DEVELOPING PLANS AND WORKING WITH REGIONAL ENTITIES TO IMPROVE VISITOR EXPERIENCE, AND DISTRIBUTING INFORMATIONAL BROCHURES, MAPS, AND OTHER PUBLICATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Price President/ceo | Officer | 40 | $241,390 |
James Cassidy Chief Financial Officer | Officer | 40 | $128,934 |
Kevin Penn Vice Chair | OfficerTrustee | 1 | $0 |
Dave Harris Treasurer | OfficerTrustee | 1 | $0 |
Susan Davies Chair | OfficerTrustee | 1 | $0 |
Becky Leinweber Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Orange 142 Llc Advertising | 12/30/21 | $1,204,085 |
Colorado Springs Chamber And Edc Business Advocate | 12/30/21 | $118,678 |
Cvent Inc Virtual Events | 12/30/21 | $133,148 |
Por Venir Llc Rent And Nnn | 12/30/21 | $143,564 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $367,342 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,997 |
| Noncash contributions included in lines 1a–1f | $27,997 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $395,339 |
| Total Program Service Revenue | $4,577,613 |
| Investment income | $21,646 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$10,245 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,063 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,101,017 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $181,745 |
| 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. | $393,200 |
| Compensation of current officers, directors, key employees. | $289,410 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $835,721 |
| Pension plan accruals and contributions | $35,000 |
| Other employee benefits | $243,644 |
| Payroll taxes | $99,679 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,603 |
| Advertising and promotion | $1,815,552 |
| Office expenses | $17,252 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $131,830 |
| Travel | $110,982 |
| 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 | $43,137 |
| Insurance | $6,810 |
| All other expenses | $97,004 |
| Total functional expenses | $4,385,118 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $163,737 |
| Savings and temporary cash investments | $3,743,631 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,461 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,675 |
| Prepaid expenses and deferred charges | $286,303 |
| Net Land, buildings, and equipment | $369,697 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $17,107 |
| Intangible assets | $0 |
| Other assets | $973,635 |
| Total assets | $5,599,246 |
| Accounts payable and accrued expenses | $101,086 |
| Grants payable | $0 |
| Deferred revenue | $17,377 |
| 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 | $1,053,590 |
| Total liabilities | $1,172,053 |
| Net assets without donor restrictions | $4,427,193 |
| 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 | $5,599,246 |
Grants Awarded
Over the last fiscal year, Colorado Springs Convention Visitors Bureau has awarded $171,745 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF COLORADO SPRINGS PURPOSE: Support for Olympic City USA branding and for Spirit of the Springs | $80,000 |
Alexandria, VA PURPOSE: Support for local meeting/event | $34,745 |
Colorado Springs, CO PURPOSE: Support for local meeting/event | $25,000 |
McLean, VA PURPOSE: Support for local meeting/event | $10,000 |
Colorado Springs, CO PURPOSE: Support for local meeting/event | $10,000 |
Littleton, CO PURPOSE: Support for local meeting/event | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Colorado Springs Convention Visitors Bureau has recieved totaling $150,000.
| Awarding Organization | Amount |
|---|---|
Pikes Peak Community Foundation Colorado Springs, CO PURPOSE: See Part IV | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Oklahoma City Chamber Of Commerce Oklahoma City, OK | $12,639,674 | $12,068,118 |
Chamber Of Commerce Metropolitan Tulsa Tulsa, OK | $9,253,345 | $10,228,951 |
Metropolitan Tucson Convention And Visitors Bureau Tucson, AZ | $11,117,181 | $12,905,654 |
Park City Area Chamber Of Commerce Convention & Visitors Buerau Park City, UT | $9,039,229 | $12,386,201 |
Denver Metro Chamber Of Commerce Denver, CO | $24,074,791 | $9,796,835 |
Arizona Association Of Realtors Phoenix, AZ | $41,549,602 | $11,298,614 |
Commercial Real Estate Women Network Lawrence, KS | $20,981,999 | $6,251,461 |
Colorado Lending Source Ltd Denver, CO | $12,386,604 | $5,983,291 |
Salt Lake Area Chamber Of Commerce Salt Lake City, UT | $6,300,814 | $5,364,414 |
Colorado Springs Convention Visitors Bureau Colorado Springs, CO | $5,599,246 | $5,101,017 |
Arizona Chamber Of Commerce Scottsdale, AZ | $2,431,863 | $4,265,420 |
Visit Mesa Mesa, AZ | $4,162,737 | $5,173,998 |