Farmington Convention And Visitors Bureau
- Assets
- $502.6k
- Revenue
- $694.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Farmington, NM
- Founding
- 01/1993
- Data as of
- 06/2021
- EIN
- 85-0319499
Organization Overview
Farmington Convention And Visitors Bureau is located in Farmington, NM. The organization was established in 1993. 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 06/2021, Farmington Convention And Visitors Bureau employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Farmington 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 06/2021, Farmington Convention And Visitors Bureau generated $694.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $663.2k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 6 years. 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
PROVIDE CONVENTION & VISITORS SERVICES FOR CITY OF FARMINGTON, NM
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES CONVENTION AND VISITOR EDUCATIONAL AND PROMOTIONAL SERVICES ON BEHALF OF THE CITY OF FARMINGTON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashton Vanden Broeck Sec/treasurer | OfficerTrustee | 2 | $0 |
Darryl Dunlap Chair | OfficerTrustee | 2 | $0 |
Shana Reeves Ex-Officio | Trustee | 2 | $0 |
Mike Ulrich Director | Trustee | 2 | $0 |
Teresa Emrich Director | Trustee | 2 | $0 |
Larry Baker Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $625 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $55,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $55,625 |
| Total Program Service Revenue | $638,336 |
| Investment income | $583 |
| 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 | $694,544 |
| 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 | $159,329 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,911 |
| Payroll taxes | $12,763 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,913 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $359,762 |
| Office expenses | $6,030 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,200 |
| Travel | $3,805 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,333 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,105 |
| Insurance | $2,711 |
| All other expenses | $2,555 |
| Total functional expenses | $663,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $339,624 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $130,181 |
| 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 | $0 |
| Net Land, buildings, and equipment | $32,795 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $502,600 |
| Accounts payable and accrued expenses | $8,812 |
| Grants payable | $0 |
| Deferred revenue | $80,073 |
| 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 | $42,151 |
| Other liabilities | $1,254 |
| Total liabilities | $132,290 |
| Net assets without donor restrictions | $324,207 |
| Net assets with donor restrictions | $46,103 |
| 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 | $502,600 |
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