Albuquerque Convention & Visitors Bureau Inc
- Assets
- $4.9m
- Revenue
- $8.8m
- Investments
- $0.0
- Employees
- 25
- Location
- Albuquerque, NM
- Founding
- 00/0000
- Data as of
- 06/2022
- EIN
- 85-0285280
Organization Overview
Albuquerque Convention & Visitors Bureau Inc, operating under the name Visit Albuquerque, is located in Albuquerque, NM. The organization was established in 0000. 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, Visit Albuquerque employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Visit Albuquerque 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, Visit Albuquerque generated $8.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $6.7m during the year ending 06/2022. While expenses have increased by 1.7% 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
AS THE PREMIER DESTINATION MARKETING ORGANIZATION FOR THE CITY, VISIT ALBUQUERQUE IS RESPONSIBLE FOR PROMOTING ALBUQUERQUE AS A COMPETITIVE AND WORLD-CLASS LEISURE, MEETING, CONVENTION AND SPORTS DESTINATION, AND ENHANCING ITS PUBLIC IMAGE AS A DYNAMIC PLACE TO LIVE AND WORK. THROUGH THE IMPACT OF TRAVEL, VISIT ALBUQUERQUE STRENGTHENS THE CITY'S ECONOMIC POSITION AND PROVIDES OPPORTUNITY FOR PEOPLE IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONVENTION SALES, SERVICES AND SPORTS:PRIMARY DIRECTIVE IS TO SELL AND MARKET ALBUQUERQUE AS A DESTINATION BY BRINGING CONVENTIONS, MEETINGS AND SPORTS EVENTS TO ALBUQUERQUE. INCLUDES SERVICING OF THOSE CONVENTIONS AND SPORTS EVENTS.
TOURISM, COMMUNICATIONS AND VISITOR SERVICES:PRIMARY DIRECTIVE IS TO INCREASE TOURISM AND VISITATION TO ALBUQUERQUE. CONDUCTS ADVERTISING, MARKETING, PUBLIC RELATIONS, MEDIA RELATIONS, AND SOCIAL MEDIA CAMPAIGNS TO PROMOTE ALBUQUERQUE AS A DESTINATION. INCLUDES SUPPORTING VISITOR QUESTIONS/INQUIRIES, OPERATING VISITOR INFORMATION CENTERS AND FULFILLMENT OF VISITOR GUIDES.
MEMBERSHIP AND DEVELOPMENT DIVISION:SELLS MEMBERSHIPS (PARTNERSHIPS) AND PROVIDES BENEFITS TO PARTNERS (ALBUQUERQUE BUSINESSES) TOWARD GROWTH/MARKETING OF ALBUQUERQUE AND THE SERVICES/GOODS THE CITY OFFERS. VISIT ABQ PROMOTES THESE BUSINESSES IN OUR VISITOR GUIDE AND ONLINE, AS WELL AS IN OTHER MEDIA.
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 |
|---|---|---|---|
James Gay Director | Trustee | 0.3 | $0 |
Cainan Harris Immediate Past Chair | OfficerTrustee | 10 | $0 |
Damen Kompanowski Director | Trustee | 0.3 | $0 |
Heather Arnold Board Chair | OfficerTrustee | 10 | $0 |
Michael Canfield Secretary/treasurer | OfficerTrustee | 5 | $0 |
Steve Grant Director | Trustee | 0.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mckee Wallwork Co Advertising | 6/29/22 | $559,259 |
Miles Partnership Lllp Web Development, Marketing & Hosting | 6/29/22 | $164,507 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,019,251 |
| 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 | $8,019,251 |
| Total Program Service Revenue | $781,169 |
| Investment income | $364 |
| 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 | $8,800,784 |
| 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. | $284,224 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,380,491 |
| Pension plan accruals and contributions | $41,477 |
| Other employee benefits | $178,559 |
| Payroll taxes | $120,692 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,755 |
| Fees for services: Accounting | $19,256 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $139,784 |
| Advertising and promotion | $2,833,439 |
| Office expenses | $106,552 |
| Information technology | $168,885 |
| Royalties | $0 |
| Occupancy | $140,095 |
| Travel | $70,074 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $153,921 |
| Interest | $7,244 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,204 |
| Insurance | $31,017 |
| All other expenses | $31,392 |
| Total functional expenses | $6,702,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,821,322 |
| Savings and temporary cash investments | $299,693 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $172,865 |
| 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 | $534,848 |
| Net Land, buildings, and equipment | $79,037 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $7,095 |
| Other assets | $1,800 |
| Total assets | $4,916,660 |
| Accounts payable and accrued expenses | $327,143 |
| Grants payable | $0 |
| Deferred revenue | $716,842 |
| 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 | $1,043,985 |
| Net assets without donor restrictions | $3,872,675 |
| 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 | $4,916,660 |