Las Vegas Global Economic Alliance
- Assets
- $3.4m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 18
- Location
- Las Vegas, NV
- Founding
- 02/1958
- Data as of
- 12/2021
- EIN
- 88-0070996
Organization Overview
Las Vegas Global Economic Alliance is located in Las Vegas, NV. The organization was established in 1958. 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 12/2021, Las Vegas Global Economic Alliance employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Las Vegas Global Economic Alliance 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, Las Vegas Global Economic Alliance generated $3.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 7 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
TO GROW THE ECONOMY OF SOUTHERN NEVADA THROUGH CONNECTIVITY, COMMUNITY DEVELOPMENT, AND AGRESSIVE BUSINESS RECRUITMENT, RETENTION, AND OUTREACH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLIENT SERVICES - PROMOTION AND ADVANCEMENT OF INDUSTRIAL AND COMMERCIAL ACTIVITIES INVOLVING TARGED BUSINESSES
MARKETING AND RESEARCH - PROMOTION AND ADVANCEMENT OF INDUSTRIAL AND COMMERCIAL ACTIVITIES FOR GENERAL DISTRIBUTION
COMMUNITY DEVELOPMENT - PROMOTION AND ADVANCEMENT OF CRITICAL ISSUES SUCH AS EDUCATION AND INFRASTRUCTURE THAT EFFECT THE ECONOMIC CLIMATE AND HEALTH OF SOUTHERN NEVADA ENGAGES COMMUNITY AND BUSINESS LEADERS IN PROGRAMS MEANT TO DRAW ATTENTION TO KEY ISSUES AND CREATE PARTNERSHIPS FOR DEVELOPMENTS RELATING TO THESE ISSUES, ESPECIALLY CONCERNING EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonas R Peterson Chief Executive Officer | Officer | 40 | $440,877 |
Phillip Jared Smith Chief Operations Officer | Officer | 40 | $219,686 |
Michael Walsh VP Of Economic Development | 40 | $114,982 | |
Perry J Ursem VP Of Business Retention A | 40 | $106,651 | |
Betsy Fretwell Chairwoman | OfficerTrustee | 1 | $0 |
Yolanda King Treasurer And Finance Comm | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,071,327 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,235,419 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,306,746 |
| Total Program Service Revenue | $0 |
| Investment income | $231 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $97,640 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,404,617 |
| 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. | $1,000,922 |
| Compensation of current officers, directors, key employees. | $217,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $410,069 |
| Pension plan accruals and contributions | $67,880 |
| Other employee benefits | $63,350 |
| Payroll taxes | $90,835 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $110,207 |
| Fees for services: Lobbying | $42,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,224 |
| Advertising and promotion | $105,051 |
| Office expenses | $118,769 |
| Information technology | $97,160 |
| Royalties | $0 |
| Occupancy | $166,370 |
| Travel | $21,476 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $98,213 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $67,700 |
| Insurance | $14,598 |
| All other expenses | $0 |
| Total functional expenses | $2,867,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $394 |
| Savings and temporary cash investments | $2,672,812 |
| Pledges and grants receivable | $52,444 |
| Accounts receivable, net | $314,768 |
| 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 | $50,714 |
| Net Land, buildings, and equipment | $247,319 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,858 |
| Total assets | $3,355,309 |
| Accounts payable and accrued expenses | $251,190 |
| Grants payable | $0 |
| Deferred revenue | $433,338 |
| 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 | $684,528 |
| Net assets without donor restrictions | $2,618,337 |
| Net assets with donor restrictions | $52,444 |
| 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 | $3,355,309 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Las Vegas Global Economic Alliance has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Pharmaceutical Research And Manufacturers Of America Washington, DC PURPOSE: General Contribution | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chinatown Service Center Los Angeles, CA | $26,778,687 | $27,867,616 |
Sag-Aftra & Industry Sound Recordings Distribution Fund Valley Village, CA | $48,142,351 | $13,604,136 |
Electric & Gas Industries Association Sacramento, CA | $14,735,713 | $15,175,016 |
American Pistachio Growers Fresno, CA | $11,494,323 | $15,365,842 |
National Council For Prescription Drug Programs Inc Scottsdale, AZ | $21,339,680 | $12,526,720 |
Travel Portland Portland, OR | $18,865,244 | $9,767,566 |
California Society Of Certified Public Accountants Burlingame, CA | $29,880,424 | $13,544,885 |
Scottsdale Convention And Vistors Bureau Inc Scottsdale, AZ | $8,006,659 | $12,242,411 |
Sustainable Apparel Coalition Inc Oakland, CA | $12,069,125 | $10,210,019 |
Portland Business Alliance Portland, OR | $2,909,182 | $8,830,293 |
California Certified Public Accountants Foundation Burlingame, CA | $12,236,942 | $9,436,468 |
California Life Sciences Association San Diego, CA | $8,698,147 | $9,649,305 |