Brookings Convention & Visitors Bureau
- Assets
- $571.7k
- Revenue
- $471.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Brookings, SD
- Founding
- Data as of
- 12/2021
- EIN
- 84-3340047
Organization Overview
Brookings Convention & Visitors Bureau, operating under the name Visit Brookings, is located in Brookings, SD. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Visit Brookings employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Visit Brookings 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 Brookings generated $471.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (13.6%) each year. All expenses for the organization totaled $456.9k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WORKS WITH STRATEGIC PARTNERS TO MARKET BROOKINGS, DEVELOP TOURISM, AND STRENGTHEN EVENTS PROVIDING ECONOMIC IMPACT TO THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WORKS WITH STRATEGIC PARTNERS TO MARKET BROOKINGS, DEVELOP TOURISM, AND STRENGTHEN EVENTS PROVIDING ECONOMIC IMPACT TO THE COMMUNITY.
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Carsrud Chairman | OfficerTrustee | 1 | $0 |
Jamison Lamp Vice Chairman | OfficerTrustee | 1 | $0 |
Randy Soma Past Chairman | OfficerTrustee | 1 | $0 |
Lisa Marotz Secretary/treasurer | OfficerTrustee | 1 | $0 |
Seth Koch Board Member | Trustee | 1 | $0 |
Mark Hyde Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $88,349 |
| All other contributions, gifts, grants, and similar amounts not included above | $382,692 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $471,041 |
| Total Program Service Revenue | $0 |
| Investment income | $102 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $471,143 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $134,874 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,588 |
| Payroll taxes | $9,919 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,846 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,990 |
| Advertising and promotion | $83,385 |
| Office expenses | $16,220 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,331 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,963 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,038 |
| Insurance | $2,381 |
| All other expenses | $0 |
| Total functional expenses | $456,856 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $301,964 |
| Savings and temporary cash investments | $193,435 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $11,659 |
| Net Land, buildings, and equipment | $16,315 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $48,288 |
| Other assets | $0 |
| Total assets | $571,661 |
| Accounts payable and accrued expenses | $11,694 |
| 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 | $0 |
| Total liabilities | $11,694 |
| Net assets without donor restrictions | $501,216 |
| Net assets with donor restrictions | $58,751 |
| 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 | $571,661 |
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