Visitor Development Fund Inc
- Assets
- $9.4m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Portland, OR
- Founding
- 07/2001
- Data as of
- 06/2022
- EIN
- 93-1305252
Organization Overview
Visitor Development Fund Inc is located in Portland, OR. The organization was established in 2001. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Visitor Development Fund Inc 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, Visitor Development Fund Inc generated $1.3m 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 (3.0%) each year. All expenses for the organization totaled $681.2k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (14.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Visitor Development Fund Inc has awarded 36 individual grants totaling $8,537,780. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ATTRACT VISITORS TO PORTLAND THAT MAXIMIZE HOTEL OCCUPANCY AND VEHICLE RENTALS IN THE CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MADE GRANTS TO SUPPORT TOURISM RELATED EVENTS, PROMOTIONS AND ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Dawes Chair | OfficerTrustee | 1 | $0 |
Peter Flemming Vice Chair | OfficerTrustee | 1 | $0 |
Sarah Chisholm Treasurer | OfficerTrustee | 1 | $0 |
Jeff Miller Secretary | OfficerTrustee | 1 | $0 |
Shirley Craddick Committee Member | Trustee | 1 | $0 |
Mike Daley Committee Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,322,324 |
| 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 | $1,322,324 |
| Total Program Service Revenue | $0 |
| Investment income | $127 |
| 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 | $1,322,451 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $829,575 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,051 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $24 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $1,597 |
| All other expenses | -$151,998 |
| Total functional expenses | $681,249 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,937,316 |
| Savings and temporary cash investments | $253,823 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $208,578 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,399,717 |
| Accounts payable and accrued expenses | $698,006 |
| Grants payable | $4,448,058 |
| 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 | $5,146,064 |
| Net assets without donor restrictions | $0 |
| 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 | $9,399,717 |
Grants Awarded
Over the last fiscal year, Visitor Development Fund Inc has awarded $824,249 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MERC PURPOSE: SUPPORT FOR CONVENTIONS AND MEETINGS | $716,888 |
BROOKSEE LLC PURPOSE: LEISURE GRANT TO SUPPORT THE PORTLAND MARATHON | $25,000 |
RIP CITY MGMT LLC PURPOSE: PK85 PHIL KNIGHT INVITATIONAL | $75,000 |
INTERNATIONAL CITYCOUNTY MGMT ASSN PURPOSE: CONFERENCE INCENTIVE AND REGISTRATION STAFFING ASSISTANCE | $7,361 |