Civic Intelligence

Greater Cincinnati Convention and Visitors Bureau Inc

990 • Fiscal year 2020 • EIN 31-0505238

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

525 Vine Street Suite 1200Cincinnati, OH 45202-2361

(513) 621-2142

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.42x

Higher debt load relative to assets than 76% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

81st percentile

0.82x

Higher debt load relative to revenue than 81% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2020

Net Margin

89th percentile

29%

Higher net margin than 89% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

28th percentile

$259,413

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2020

Asset Growth

98th percentile

81%

Faster asset growth than 98% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

8th percentile

-46%

Faster revenue growth than 8% of similar nonprofits.

2020 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$10,384,553

Up $4,654,842 (+81%) from 2019

Net Assets

Up

$6,012,018

Up $1,571,900 (+35%) from 2019

Liabilities

Up

$4,372,535

Up $3,082,942 (+239%) from 2019

Revenue

Down

$5,351,997

Down $4,542,362 (-46%) from 2019

Expenses

Down

$3,780,097

Down $5,374,606 (-59%) from 2019

Net Income

Up

$1,571,900

Up $832,244 (+113%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $3,583,215Liabilities 2010: $2,102,063Net Assets 2010: $1,481,1522010Assets 2011: $4,116,604Liabilities 2011: $2,570,467Net Assets 2011: $1,546,1372011Assets 2012: $2,430,352Liabilities 2012: $1,717,558Net Assets 2012: $712,7942012Assets 2013: $2,578,757Liabilities 2013: $1,245,712Net Assets 2013: $1,333,0452013Assets 2014: $3,332,617Liabilities 2014: $1,281,897Net Assets 2014: $2,050,7202014Assets 2015: $3,919,002Liabilities 2015: $1,478,287Net Assets 2015: $2,440,7152015Assets 2016: $4,209,935Liabilities 2016: $1,486,442Net Assets 2016: $2,723,4932016Assets 2017: $3,897,576Liabilities 2017: $1,443,741Net Assets 2017: $2,453,8352017Assets 2018: $4,989,697Liabilities 2018: $1,289,235Net Assets 2018: $3,700,4622018Assets 2019: $5,729,711Liabilities 2019: $1,289,593Net Assets 2019: $4,440,1182019Assets 2020: $10,384,553Liabilities 2020: $4,372,535Net Assets 2020: $6,012,0182020Assets 2021: $12,063,911Liabilities 2021: $3,635,832Net Assets 2021: $8,428,0792021Assets 2022: $19,629,258Liabilities 2022: $6,113,377Net Assets 2022: $13,515,8812022Assets 2023: $19,826,452Liabilities 2023: $3,436,801Net Assets 2023: $16,389,6512023Assets 2024: $20,645,649Liabilities 2024: $2,754,930Net Assets 2024: $17,890,7192024

Highlighted filing

2020

Assets$10,384,553
Liabilities$4,372,535
Net Assets$6,012,018

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $5,587,6642010Expenses 2011: $6,338,2142011Expenses 2012: $8,020,0482012Revenue 2013: $7,624,275Expenses 2013: $7,004,024Net Income 2013: $620,2512013Revenue 2014: $8,437,097Expenses 2014: $7,719,422Net Income 2014: $717,6752014Revenue 2015: $8,917,843Expenses 2015: $8,527,848Net Income 2015: $389,9952015Revenue 2016: $9,447,774Expenses 2016: $9,164,996Net Income 2016: $282,7782016Revenue 2017: $9,497,126Expenses 2017: $9,766,784Net Income 2017: -$269,6582017Revenue 2018: $10,011,815Expenses 2018: $8,765,188Net Income 2018: $1,246,6272018Revenue 2019: $9,894,359Expenses 2019: $9,154,703Net Income 2019: $739,6562019Revenue 2020: $5,351,997Expenses 2020: $3,780,097Net Income 2020: $1,571,9002020Revenue 2021: $8,787,781Expenses 2021: $6,371,720Net Income 2021: $2,416,0612021Revenue 2022: $12,129,671Expenses 2022: $7,041,899Net Income 2022: $5,087,7722022Revenue 2023: $11,644,351Expenses 2023: $8,978,265Net Income 2023: $2,666,0862023Revenue 2024: $10,911,195Expenses 2024: $9,322,708Net Income 2024: $1,588,4872024

Highlighted filing

2020

Revenue$5,351,997
Expenses$3,780,097
Net Income$1,571,900
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$5,351,997
Mission and Program Overview

Mission

The cincinnati usa convention & visitors bureau is an aggressive sales, marketing, and service organization. Our primary responsibility is to positively impact the region's area economy through convention, tradeshow and visitor expenditures, and provide quality service to our clients.

To impact the cincinnati economy through convention, trade show, and visitor expenditures.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,096,893$8,754,907▲ $5,658,014
Accounts Receivable$2,224,225$1,387,782▼ $836,443
Land, Buildings, and Equipment, Net$267,934$173,658▼ $94,276
Savings and Temporary Cash Investments$63,866$43,888▼ $19,978
Prepaid Expenses and Deferred Charges$76,793$24,318▼ $52,475
Total Assets$5,729,711$10,384,553▲ $4,654,842
Liabilities
Other Liabilities$29,538$2,015,318▲ $1,985,780
Deferred Revenue$5,999$1,502,215▲ $1,496,216
Accounts Payable and Accrued Expenses$838,714$705,002▼ $133,712
Grants Payable$415,342--
Unsecured Notes Loans Payable-$150,000-
Total Liabilities$1,289,593$4,372,535▲ $3,082,942
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,085,679$4,501,279▲ $415,600
Net Assets With Donor Restrictions$354,439$1,510,739▲ $1,156,300
Total Net Assets Fund Balance$4,440,118$6,012,018▲ $1,571,900
Total Liabilities and Net Assets / Fund Balance$5,729,711$10,384,553▲ $4,654,842

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$173,658$592,423$766,081
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Andrew ConklinExecutive VP, Sales & MarkFT$189,416$69,997$259,413
Julie CalvertPresident & CEOFT$212,693$36,366$249,059
Cynthia FlickVP, Finance & AdministratiFT$131,501$42,190$173,691
Randie AdamVP, Marketing & Visitor ServicesFT$105,111$53,587$158,698
Jason DunnVP, Diversity Sales & InclFT$103,261$29,301$132,562

Board Members and Trustees

NameTitle
Jeff BerdingChair
Mario San MarcoImmediate Past Chair
Agnes Godwin HallVice Chair
Aaron BludworthDirector
Adam GelterDirector
Akiva FreemanDirector
Alecia KintnerDirector
Bimal PatelDirector
Bobby SpannDirector
Brendon CullDirector
Britney Ruby MillerDirector
Chinedum NdukweDirector
Eric KearneyDirector
Jim McgrawDirector
Joe PintoDirector
John CranleyDirector
Karen ForgusDirector
Kevin HardmanDirector
Kevin JonesDirector
Mike ConwayDirector
Stephanie Summerow DumasDirector
Tim ZeisDirector
Jim DowntonEx-officio Director
Julie KirkpatrickEx-officio Director
Ric BoothEx-officio Director
Paul SilvaSecretary, Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,221,328
Program Service Revenue
$115,445
Investment Income
$2,150
Other Revenue
$13,074
All Other Contributions
$30,000
Change in Net Assets
$1,571,900

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,351,997
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,351,997
Total Revenue per Form 990
$5,351,997
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,985,905
Other Expenses$1,743,798
Grants and Similar Amounts Paid$50,394
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$973,423
Other Salaries and Wages---$631,658
Other Employee Benefits---$281,434
Information Technology---$128,815
Depreciation Depletion---$97,974
Payroll Taxes---$97,114
Other Expenses---$85,845
Fees for Services Other---$53,908
Grants to Domestic Orgs---$50,394
Advertising---$42,746
Conferences and Meetings---$23,459
Insurance---$13,019
Pension Plan Contributions---$2,276
Total Functional Expenses$0$0$0$3,780,097

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,780,097
Total Expenses per Audited Statements$3,780,097
Total Expenses per Form 990$3,780,097
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Greater Cincinnati Sports CorporationCincinnati, OH501(c)(3)Continuation of Exempt Purpose$50,394
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Hamilton County Transient Occupancy Tax Advance$2,000,000
Capital Lease$15,318
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Any person, partnership, company, firm, corporation, institution, governmental agency, or business entity, which is beneficially affected by or interested in visitors or groups coming to or convening in greater cincinnati, shall be eligible for membership in the greater cincinnati convention & visitors bureau.

Form 990, Part VI, Section A, Line 7A

The bureau is a membership organization and the members elect the at large board members.

Form 990, Part VI, Section B, Line 11B

The form 990 and related schedules are reviewed by the finance chair and other members of the finance committee.

Form 990, Part VI, Section B, Line 12C

A conflict of interest disclosure form is required to be completed and signed by the board of directors annually. The board member must disclose in writing to the chairperson of the board any potential conflicts. Arrangements that create a conflict will be reviewed on a case by case basis.

Form 990, Part VI, Section B, Line 15A

The compensation committee reviews and approves executive compensation. Benchmarking data from national industry surveys and data analyzed by an independent compensation consultant are used in determining compensation. The ceo makes the determination for key employees' salaries, however, benchmarking data from national industry surveys and data analyzed by an independent compensation consultant are used to determine compensation. Salaries and wages are budgeted each year, with the average percentage of budgeted increased called out. The board approves the budget annually.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy and financial statements are available by request.

FORM 990, PART VI, LINE 1A:

The executive committee shall have all of the powers of the board of directors during the intervals between meetings of the board, or such powers as may be delegated to it by the board of directors. However, the executive committee shall not have the power to fill vacancies in the board of directors, or to change the membership of, or to fill vacancies in, the executive committee. The executive committee may hold meetings, make rules for the conduct of its business and appoint such committees and assistants as it shall deem necessary. A majority of the members of the executive committee shall constitute a quorum and the act of a majority of members of the executive committee present at a meeting thereof, if there is a quorum, shall be the act of the executive committee.

Filing and Contact Details

Filer

Filer Name
Greater Cincinnati Convention and
EIN
31-0505238
Phone
5136212142
Address
525 VINE STREET SUITE 1200, CINCINNATI, OH 45202-2361
Doing Business As
Cincinnati USA Convention & Visitor Bureau

Signing Officer

Name
Julie Calvert
Title
CEO
Phone
5136212142
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Julie Calvert
Formed
1945
Legal Domicile
Oh
Voting Board Members
26
Independent Board Members
26
Employees
40
Volunteers
0

Preparer

Firm
Clark Schaefer Hackett & Co
Address
1 EAST 4TH STREET, CINCINNATI, OH 45202
Preparer
Jane E Pfeifer
Phone
5132413111
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

The pandemic of 2020 forced a hard reset of our entire tourism and hospitality industry, prompted a comprehensive renewal of our strategies to achieve our mission, and ignited our commitment to restore our visitor economy to where it could and should be, not where it was.

FORM 990, PART XII, LINE 2C:

The process has not changed.

Financial Statement Notes

PART X, LINE 2:

The bureau follows the provisions for accounting for uncertainty in income taxes. Those provisions clarify the accounting and recognition for income tax positions taken or expected to be taken in the bureau's income tax returns. The bureau's income tax filings are subject to audit by various taxing authorities. The bureau's open audit periods are 2017-2019. The bureau's policy with regard to interest and penalties is to recognize interest through interest expense and penalties through other expense. In evaluating the bureau's tax provisions and accruals, future taxable income, and the reversal of temporary differences, interpretations and tax planning strategies are considered. The bureau believes their estimates are appropriate based on current facts and circumstances.

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IRS990/Form990PartVIISectionAGrp/PersonNm3MARIO SAN MARCO
IRS990/Form990PartVIISectionAGrp/PersonNm4KAREN FORGUS
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IRS990/Form990PartVIISectionAGrp/PersonNm28ANDREW CONKLIN
IRS990/Form990PartVIISectionAGrp/PersonNm29JASON DUNN
IRS990/Form990PartVIISectionAGrp/PersonNm30CYNTHIA FLICK
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY, TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20EX-OFFICIO DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21EX-OFFICIO DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22EX-OFFICIO DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26VP, MARKETING & VISITOR SERVICES
IRS990/Form990PartVIISectionAGrp/TitleTxt27PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt28EXECUTIVE VP, SALES & MARK
IRS990/Form990PartVIISectionAGrp/TitleTxt29VP, DIVERSITY SALES & INCL
IRS990/Form990PartVIISectionAGrp/TitleTxt30VP, FINANCE & ADMINISTRATI
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IRS990/MissionDesc0THE CINCINNATI USA CONVENTION & VISITORS BUREAU IS AN AGGRESSIVE SALES, MARKETING, AND SERVICE ORGANIZATION. OUR PRIMARY RESPONSIBILITY IS TO POSITIVELY IMPACT THE REGION'S AREA ECONOMY THROUGH CONVENTION, TRADESHOW AND VISITOR EXPENDITURES, AND PROVIDE QUALITY SERVICE TO OUR CLIENTS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0RENEW: WHILE TRAVEL NEARLY HALTED, RESULTING IN A PRECIPITOUS REVENUE DROP FOR THE CVB WE CONTINUED TO LOOK AHEAD. TO PROTECT A STRONG CASH POSITION AND BE MORE FOCUSED AND NIMBLE THROUGH 2020 AND INTO RECOVERY, WE HALTED DISCRETIONARY SPENDING AND INVESTMENTS IN PARTNER ORGANIZATIONS. WE ALSO COMPLETED A FULL REORGANIZATION, REALIGNING ALL FUNCTIONS INTO THREE KEY AREAS: DESTINATION ATTRACTION, DESTINATION EXPERIENCE AND BUSINESS SUPPORT.TO TRANSLATE THESE ACTIONS INTO A MORE POWERFUL POSITION, WE INITIATED CRITICAL STEPS TO HELP ENSURE THE CVB IS BEING EFFECTIVELY POSITIONED FOR SUCCESS. REINVENTED REGIONAL MARKETING - FOR ALMOST 15 YEARS, THE REGIONAL TOURISM NETWORK MANAGED LEISURE CAMPAIGNS FUNDED BY THE CINCINNATI CVB AND MEETNKY. THE ORGANIZATIONS HAD BEEN WORKING TOWARDS BETTER INTEGRATION, BUT THE FUNDING CHALLENGES OF THE PANDEMIC FORCED A REEVALUATION OF THIS MODEL. THE TWO CVBS REALLOCATED THE ANNUAL INVESTMENT THAT HAD BEEN MADE IN THE RTN INTO GENERATING TRAVEL DEMAND FOR RECOVERY AND CREATED A STRATEGIC MEMORANDUM OF UNDERSTANDING TO DELIVER ON OUR SHARED MISSION OF BOOSTING REGIONAL LEISURE TOURISM. SECURED FUNDING - HAMILTON COUNTY INVESTED $2 MILLION IN CARES ACT FUNDING FOR A "SAFE RESTART" MARKETING PROGRAM IN PARTNERSHIP WITH THE CINCINNATI USA REGIONAL CHAMBER AND THE CINCINNATI EXPERIENCE, FORMERLY KNOWN AS SOURCE CINCINNATI. THE CVB ALSO SUCCESSFULLY PETITIONED HAMILTON COUNTY TO ADVANCE $2 MILLION IN BED TAX RECEIPTS TO PROVIDE BRIDGE FUNDING AND ENABLE GROUNDWORK FOR A RETURN TO BUSINESS. REBOOKED BUSINESS - THE CVB WORKED CLOSELY WITH HOTEL AND CONVENTION CENTER PARTNERS TO RESCHEDULE GROUP BUSINESS AND KEEP IT FROM CANCELLING. EIGHTEEN MEETINGS, WITH MORE THAN 20,000 ROOM NIGHTS WERE REBOOKED, WITH SEVERAL MORE IN THE CONFIRMATION PROCESS.
IRS990/ProgSrvcAccomActy3Grp/Desc0RECOVER: THE RESOLVE THAT GUIDED US THROUGH 2020 SETS THE STAGE TO RESTORE THE ECONOMIC BENEFIT OF THE VISITOR ECONOMY. WITH EFFECTIVE VACCINES NOW WIDELY AVAILABLE, WE ARE SEEING A GRADUAL RETURN TO MORE NORMAL LIFE, INCLUDING INCREASED TRAVEL PLANNING.
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IRS990/PYTotalRevenueAmt09894359
IRS990/ReconcilationRevenueExpnssAmt01571900
IRS990/RegularMonitoringEnfrcInd01
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$20.6$2.75$17.9$10.9$9.32$1.59
2023Detailed filing. Detailed filing data is available for this year.$19.8$3.44$16.4$11.6$8.98$2.67
2022Detailed filing. Detailed filing data is available for this year.$19.6$6.11$13.5$12.1$7.04$5.09
2021Detailed filing. Detailed filing data is available for this year.$12.1$3.64$8.43$8.79$6.37$2.42
2020Detailed filing. Detailed filing data is available for this year.$10.4$4.37$6.01$5.35$3.78$1.57
2019Detailed filing. Detailed filing data is available for this year.$5.73$1.29$4.44$9.89$9.15$0.74
2018Detailed filing. Detailed filing data is available for this year.$4.99$1.29$3.70$10.0$8.77$1.25
2017Detailed filing. Detailed filing data is available for this year.$3.90$1.44$2.45$9.50$9.77$0.27
2016Detailed filing. Detailed filing data is available for this year.$4.21$1.49$2.72$9.45$9.16$0.28
2015Detailed filing. Detailed filing data is available for this year.$3.92$1.48$2.44$8.92$8.53$0.39
2014Detailed filing. Detailed filing data is available for this year.$3.33$1.28$2.05$8.44$7.72$0.72
2013Detailed filing. Detailed filing data is available for this year.$2.58$1.25$1.33$7.62$7.00$0.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.43$1.72$0.71$8.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.12$2.57$1.55$6.34
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.58$2.10$1.48$5.59
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)6 • $10M-$25M nonprofits