Civic Intelligence

Tc Convention & Visitor'S Bureau

990 • Fiscal year 2022 • EIN 38-2582585

Jan 01, 2022 to Dec 31, 2022 • Filed on Jan 23, 2024

101 W Grandview PkwyTraverse City, MI 49684

(231) 947-1120

Siviq Scores

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

Liabilities / Assets

31st percentile

0.11x

Higher debt load relative to assets than 31% of similar nonprofits.

2022 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

20th percentile

0.09x

Higher debt load relative to revenue than 20% of similar nonprofits.

2022 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2022

Net Margin

51st percentile

5.2%

Higher net margin than 51% of similar nonprofits.

2022 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

32nd percentile

$197,090

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2022 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2022

Asset Growth

63rd percentile

6.0%

Faster asset growth than 63% of similar nonprofits.

2022 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

57th percentile

11%

Faster revenue growth than 57% of similar nonprofits.

2022 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Up

$7,738,667

Up $438,705 (+6.0%) from 2021

Net Assets

Up

$6,919,540

Up $491,398 (+7.6%) from 2021

Liabilities

Down

$819,127

Down $52,693 (-6.0%) from 2021

Revenue

Up

$9,459,877

Up $936,805 (+11%) from 2021

Expenses

Up

$8,968,479

Up $2,509,555 (+39%) from 2021

Net Income

Down

$491,398

Down $1,572,750 (-76%) from 2021

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $844,869Liabilities 2010: $41,618Net Assets 2010: $803,2512010Assets 2011: $2,004,790Liabilities 2011: $236,745Net Assets 2011: $1,768,0452011Assets 2012: $2,243,510Liabilities 2012: $250,104Net Assets 2012: $1,993,4062012Assets 2013: $2,348,211Liabilities 2013: $202,398Net Assets 2013: $2,145,8132013Assets 2014: $2,354,919Liabilities 2014: $266,073Net Assets 2014: $2,088,8462014Assets 2015: $2,646,410Liabilities 2015: $171,938Net Assets 2015: $2,474,4722015Assets 2016: $2,722,787Liabilities 2016: $227,468Net Assets 2016: $2,495,3192016Assets 2017: $3,764,126Liabilities 2017: $959,410Net Assets 2017: $2,804,7162017Assets 2018: $3,602,677Liabilities 2018: $608,245Net Assets 2018: $2,994,4322018Assets 2019: $3,899,450Liabilities 2019: $680,912Net Assets 2019: $3,218,5382019Assets 2020: $5,013,208Liabilities 2020: $649,214Net Assets 2020: $4,363,9942020Assets 2021: $7,299,962Liabilities 2021: $871,820Net Assets 2021: $6,428,1422021Assets 2022: $7,738,667Liabilities 2022: $819,127Net Assets 2022: $6,919,5402022Assets 2023: $9,224,633Liabilities 2023: $845,125Net Assets 2023: $8,379,5082023Assets 2024: $10,597,087Liabilities 2024: $555,811Net Assets 2024: $10,041,2762024

Highlighted filing

2022

Assets$7,738,667
Liabilities$819,127
Net Assets$6,919,540

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $1,973,1402010Expenses 2011: $3,272,1622011Expenses 2012: $4,764,3052012Revenue 2013: $5,212,592Expenses 2013: $5,060,185Net Income 2013: $152,4072013Revenue 2014: $5,371,332Expenses 2014: $5,428,299Net Income 2014: -$56,9672014Revenue 2015: $5,918,777Expenses 2015: $5,533,151Net Income 2015: $385,6262015Revenue 2016: $6,186,262Expenses 2016: $6,165,415Net Income 2016: $20,8472016Revenue 2017: $6,487,001Expenses 2017: $6,177,604Net Income 2017: $309,3972017Revenue 2018: $6,805,823Expenses 2018: $6,614,377Net Income 2018: $191,4462018Revenue 2019: $6,913,658Expenses 2019: $6,689,552Net Income 2019: $224,1062019Revenue 2020: $6,445,728Expenses 2020: $5,300,272Net Income 2020: $1,145,4562020Revenue 2021: $8,523,072Expenses 2021: $6,458,924Net Income 2021: $2,064,1482021Revenue 2022: $9,459,877Expenses 2022: $8,968,479Net Income 2022: $491,3982022Revenue 2023: $10,750,676Expenses 2023: $9,290,708Net Income 2023: $1,459,9682023Revenue 2024: $12,638,310Expenses 2024: $10,977,694Net Income 2024: $1,660,6162024

Highlighted filing

2022

Revenue$9,459,877
Expenses$8,968,479
Net Income$491,398
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jan 23, 2024
Return Version
2022v5.0
Gross Receipts
$9,459,877
Mission and Program Overview

Mission

To serve as the destination's principal marketing resource, stimulating economic growth through convention business and leisure tourism development with respect for our community and environment

To promote, protect, and enhance the traverse city region, securing our position as a premier, four-season destination.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$4,697,051$4,447,245▼ $249,806
Other Notes and Loans Receivable, Net$1,904,207$2,469,301▲ $565,094
Accounts Receivable$598,383$587,365▼ $11,018
Land, Buildings, and Equipment, Net$41,037$129,966▲ $88,929
Prepaid Expenses and Deferred Charges$59,284$104,790▲ $45,506
Total Assets$7,299,962$7,738,667▲ $438,705
Liabilities
Accounts Payable and Accrued Expenses$871,820$819,127▼ $52,693
Total Liabilities$871,820$819,127▼ $52,693
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,257,925$6,830,009▲ $572,084
Net Assets With Donor Restrictions$170,217$89,531▼ $80,686
Total Net Assets Fund Balance$6,428,142$6,919,540▲ $491,398
Total Liabilities and Net Assets / Fund Balance$7,299,962$7,738,667▲ $438,705

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$42,964$90,865$133,829
Equipment$19,077$97,823$116,900
Leasehold Improvements$67,925$6,355$74,280
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Trevor TkachExecutive DiFT$197,090-$197,090
Trevor TkachExecutive Director-$170,000$27,090$197,090
Whitney WaaraChief OperatFT$125,832$3,600$129,432
Jennifer CaseChief MarketFT$111,245-$111,245

Board Members and Trustees

NameTitle
Matthew BryantChair
Frederick HellerVice Chairma
Allen HeadleyDirector
Amy ParkerDirector
Brandon SheldonDirector
Chris MacinnesDirector
Dave DenisonDirector
Jason HomaDirector
Judy RemmertDirector
Kevin KleinDirector
Laura GalbraithDirector
Marie-chantal DaleseDirector
Melanie OlsenDirector
Rob RodenrothDirector
Ron RobinsonDirector
Sherri FentonDirector
Justin MortierImmediate Pa
Jonathan PackSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$9,295,509
Investment Income
$130,410
Other Revenue
$33,958
Change in Net Assets
$491,398
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,421,244
Salaries, Compensation, and Employee Benefits$1,547,235
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$5,771,302--$5,771,302
Other Salaries and Wages$691,052$560,908-$1,251,960
Office Expenses$335,648$13,692-$349,340
Fees for Services Legal$238,038--$238,038
Other Employee Benefits$165,264--$165,264
All Other Expenses$85,669$36,346-$122,015
Occupancy-$101,246-$101,246
Payroll Taxes$59,574$29,342-$88,916
Other Expenses$45,630$16,788-$45,630
Pension Plan Contributions$25,898$15,197-$41,095
Conferences and Meetings$20,164--$20,164
Depreciation Depletion$17,502--$17,502
Fees for Services Accounting-$9,438-$9,438
Travel$117$7,633-$7,750
Insurance-$5,842-$5,842
Total Functional Expenses$8,172,047$796,432$0$8,968,479
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
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

Memberships of the visitors bureau consists of area businesses that operate within the local hospitality industry.

Form 990, Page 6, Part VI, Line 7A

The visitors bureau consists of business members that elect among themselves individuals to participate on the board of directors.

Form 990, Page 6, Part VI, Line 11B

Form 990 is reviewed by the executive director when presented by the bureau's auditing and tax preparation firm and sent to the board for approval before filing.

Form 990, Page 6, Part VI, Line 12C

Conflicts of interest are reviewed annually as well as on an as needed basis during a regularly scheduled meeting of the governing board and any time such a conflict may arise in the course of doing business.

Form 990, Page 6, Part VI, Line 15A

Upon the completion of each year, the board of directors selects a compensation review committee that evaluates the organization's performance, as determined by the audited financial statements, against the goals and financial objectives as defined by the board. The results of this evaluation help determine the compensation of the executive director.

Form 990, Page 6, Part VI, Line 15B

The board approves the annual operating budget which includes a review of staff compensation costs. For staff positions, the executive director evaluates compensation in comparison with information provided by "destination marketing association international- and the "michigan association of convention and visitors bureaus".

Form 990, Page 6, Part VI, Line 19

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Tc Convention & Visitors Bureau
EIN
38-2582585
Phone
2319471120
Address
101 W GRANDVIEW PKWY, TRAVERSE CITY, MI 49684
Doing Business As
Traverse City Tourism

Signing Officer

Name
Jonathan Pack
Title
Secretary/treasurer
Phone
2319471120
Signed
2024-01-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Bryant
Formed
1984
Legal Domicile
Mi
Voting Board Members
15
Independent Board Members
15
Employees
23

Preparer

Firm
Tobin & Co Pc
Address
2301 GARFIELD RD N, TRAVERSE CITY, MI 49686
Preparer
Jonathan J Poortenga
Phone
2319470151
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

Original return did not include the key employee and schedule j. This corrects the return to include all relevant key employees and wage information.

Form 990, Page 2, Part III, Line 4A

1. Marketing the destination traverse city tourism focuses the majority of its marketing efforts on the leisure travel market knowing that leisure also drives group demand. Target audiences vary depending on the time of year, theme, events, and attraction highlights. Throughout much of the year we target market segments that align with our values and show a propensity to convert. Frequent themes for promotion include: agriculture, culinary and wine / craft beverage offerings; outdoor recreation; events; golf; and sleeping bear dunes. Addition areas of focus include shopping, entertainment, casinos and more. Tct engages in collaborative marketing partnerships with regional partners to build awareness of common regional assets among targeted interest groups and collaborates with pure michigan at a national and regional level to promote our region. Success is measured over the long-term impact on the destinations economy, as well as by evaluating near-term accomplishments reaching targeted audiences with our campaign. We use google analytics, smith travel research, airdna, and other research tools to track our marketing efforts and conversion. One of the best indicators of effectiveness is monitoring our monthly assessment collection to analyze year-over-year revenues. We actively review visitor numbers to the sleeping bear national lakeshore and tvc throughput. We also seek out anecdotal information from our members to help determine what they are observing and to corroborate the data with personal experiences and member data. 2. Promoting and supporting conferences, meeting and group travel, and international traverse city tourism has a sales and group services department that assists those planning a meeting or other group event in the area. Our primary goal is to proactively attract meetings and events that take place during off-peak times (need times), helping ensure greater industry sustainability by spreading out demand for hospitality businesses and staff resources. Target group markets include but are not limited to state, regional and national associations; corporate; smerf (social, military, education, religious and fraternal); sports; and group tours.

Form 990, Page 2, Part III, Line 4D

3. Destination development traverse city tourism supports efforts being put forth - including large- scale regional partnerships that are focused on the development of new or improved regional assets such as sports facilities and attractions. Further, it provides a range of supports for events and business models that can enhance our regional appeal and reputation and workforce-related initiatives that can bolster the future sustainability of the hospitality industry and ensure a strong local economy.

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IRS990/Desc01. MARKETING THE DESTINATION TRAVERSE CITY TOURISM FOCUSES THE MAJORITY OF ITS MARKETING EFFORTS ON THE LEISURE TRAVEL MARKET KNOWING THAT LEISURE ALSO DRIVES GROUP DEMAND. TARGET AUDIENCES VARY DEPENDING ON THE TIME OF YEAR, THEME, EVENTS, AND ATTRACTION HIGHLIGHTS. THROUGHOUT MUCH OF THE YEAR WE TARGET MARKET SEGMENTS THAT ALIGN WITH OUR VALUES AND SHOW A PROPENSITY TO CONVERT. FREQUENT THEMES FOR PROMOTION INCLUDE: AGRICULTURE, CULINARY AND WINE / CRAFT BEVERAGE OFFERINGS; OUTDOOR RECREATION; EVENTS; GOLF; AND SLEEPING BEAR DUNES. ADDITION AREAS OF FOCUS INCLUDE SHOPPING, ENTERTAINMENT, CASINOS AND MORE. TCT ENGAGES IN COLLABORATIVE MARKETING PARTNERSHIPS WITH REGIONAL PARTNERS TO BUILD AWARENESS OF COMMON REGIONAL ASSETS AMONG TARGETED INTEREST GROUPS AND COLLABORATES WITH PURE MICHIGAN AT A NATIONAL AND REGIONAL LEVEL TO PROMOTE OUR REGION. SUCCESS IS MEASURED OVER THE LONG-TERM IMPACT ON THE DESTINATIONS ECONOMY, AS WELL AS BY EVALUATING NEAR-TERM ACCOMPLISHMENTS REACHING TARGETED AUDIENCES WITH OUR CAMPAIGN. WE USE GOOGLE ANALYTICS, SMITH TRAVEL RESEARCH, AIRDNA, AND OTHER RESEARCH TOOLS TO TRACK OUR MARKETING EFFORTS AND CONVERSION. ONE OF THE BEST INDICATORS OF EFFECTIVENESS IS MONITORING OUR MONTHLY ASSESSMENT COLLECTION TO ANALYZE YEAR-OVER-YEAR REVENUES. WE ACTIVELY REVIEW VISITOR NUMBERS TO THE SLEEPING BEAR NATIONAL LAKESHORE AND TVC THROUGHPUT. WE ALSO SEEK OUT ANECDOTAL INFORMATION FROM OUR MEMBERS TO HELP DETERMINE WHAT THEY ARE OBSERVING AND TO CORROBORATE THE DATA WITH PERSONAL EXPERIENCES AND MEMBER DATA. 2. PROMOTING AND SUPPORTING CONFERENCES, MEETING AND GROUP TRAVEL, AND INTERNATIONAL TRAVERSE CITY TOURISM HAS A SALES AND GROUP SERVICES DEPARTMENT THAT ASSISTS THOSE PLANNING A MEETING OR OTHER GROUP EVENT IN THE AREA. OUR PRIMARY GOAL IS TO PROACTIVELY ATTRACT MEETINGS AND EVENTS THAT TAKE PLACE DURING OFF-PEAK TIMES (NEED TIMES), HELPING ENSURE GREATER INDUSTRY SUSTAINABILITY BY SPREADING OUT DEMAND FOR HOSPITALITY BUSINESSES AND STAFF RESOURCES. TARGET GROUP MARKETS INCLUDE BUT ARE NOT LIMITED TO STATE, REGIONAL AND NATIONAL ASSOCIATIONS; CORPORATE; SMERF (SOCIAL, MILITARY, EDUCATION, RELIGIOUS AND FRATERNAL); SPORTS; AND GROUP TOURS.
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IRS990/Form990PartVIISectionAGrp/PersonNm17BRANDON SHELDON
IRS990/Form990PartVIISectionAGrp/PersonNm18MATTHEW BRYANT
IRS990/Form990PartVIISectionAGrp/PersonNm19FREDERICK HELLER
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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHIEF OPERAT
IRS990/Form990PartVIISectionAGrp/TitleTxt2CHIEF MARKET
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11IMMEDIATE PA
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt19VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt20SECRETARY/TR
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IRS990/MissionDesc0TO PROMOTE, PROTECT, AND ENHANCE THE TRAVERSE CITY REGION, SECURING OUR POSITION AS A PREMIER, FOUR-SEASON DESTINATION.
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IRS990/ProgramServiceRevenueGrp/Desc1COOP ADVERTISING
IRS990/ProgramServiceRevenueGrp/Desc2T.C. AREA GUIDE & BR
IRS990/ProgramServiceRevenueGrp/Desc3MANAGEMENT FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc4DIGITAL ADVERTISING
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IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt16335
IRS990/ProgSrvcAccomActyOtherGrp/Desc03. DESTINATION DEVELOPMENT TRAVERSE CITY TOURISM SUPPORTS EFFORTS BEING PUT FORTH - INCLUDING LARGE- SCALE REGIONAL PARTNERSHIPS THAT ARE FOCUSED ON THE DEVELOPMENT OF NEW OR IMPROVED REGIONAL ASSETS SUCH AS SPORTS FACILITIES AND ATTRACTIONS. FURTHER, IT PROVIDES A RANGE OF SUPPORTS FOR EVENTS AND BUSINESS MODELS THAT CAN ENHANCE OUR REGIONAL APPEAL AND REPUTATION AND WORKFORCE-RELATED INITIATIVES THAT CAN BOLSTER THE FUTURE SUSTAINABILITY OF THE HOSPITALITY INDUSTRY AND ENSURE A STRONG LOCAL ECONOMY.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORIGINAL RETURN DID NOT INCLUDE THE KEY EMPLOYEE AND SCHEDULE J. THIS CORRECTS THE RETURN TO INCLUDE ALL RELEVANT KEY EMPLOYEES AND WAGE INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11. MARKETING THE DESTINATION TRAVERSE CITY TOURISM FOCUSES THE MAJORITY OF ITS MARKETING EFFORTS ON THE LEISURE TRAVEL MARKET KNOWING THAT LEISURE ALSO DRIVES GROUP DEMAND. TARGET AUDIENCES VARY DEPENDING ON THE TIME OF YEAR, THEME, EVENTS, AND ATTRACTION HIGHLIGHTS. THROUGHOUT MUCH OF THE YEAR WE TARGET MARKET SEGMENTS THAT ALIGN WITH OUR VALUES AND SHOW A PROPENSITY TO CONVERT. FREQUENT THEMES FOR PROMOTION INCLUDE: AGRICULTURE, CULINARY AND WINE / CRAFT BEVERAGE OFFERINGS; OUTDOOR RECREATION; EVENTS; GOLF; AND SLEEPING BEAR DUNES. ADDITION AREAS OF FOCUS INCLUDE SHOPPING, ENTERTAINMENT, CASINOS AND MORE. TCT ENGAGES IN COLLABORATIVE MARKETING PARTNERSHIPS WITH REGIONAL PARTNERS TO BUILD AWARENESS OF COMMON REGIONAL ASSETS AMONG TARGETED INTEREST GROUPS AND COLLABORATES WITH PURE MICHIGAN AT A NATIONAL AND REGIONAL LEVEL TO PROMOTE OUR REGION. SUCCESS IS MEASURED OVER THE LONG-TERM IMPACT ON THE DESTINATIONS ECONOMY, AS WELL AS BY EVALUATING NEAR-TERM ACCOMPLISHMENTS REACHING TARGETED AUDIENCES WITH OUR CAMPAIGN. WE USE GOOGLE ANALYTICS, SMITH TRAVEL RESEARCH, AIRDNA, AND OTHER RESEARCH TOOLS TO TRACK OUR MARKETING EFFORTS AND CONVERSION. ONE OF THE BEST INDICATORS OF EFFECTIVENESS IS MONITORING OUR MONTHLY ASSESSMENT COLLECTION TO ANALYZE YEAR-OVER-YEAR REVENUES. WE ACTIVELY REVIEW VISITOR NUMBERS TO THE SLEEPING BEAR NATIONAL LAKESHORE AND TVC THROUGHPUT. WE ALSO SEEK OUT ANECDOTAL INFORMATION FROM OUR MEMBERS TO HELP DETERMINE WHAT THEY ARE OBSERVING AND TO CORROBORATE THE DATA WITH PERSONAL EXPERIENCES AND MEMBER DATA. 2. PROMOTING AND SUPPORTING CONFERENCES, MEETING AND GROUP TRAVEL, AND INTERNATIONAL TRAVERSE CITY TOURISM HAS A SALES AND GROUP SERVICES DEPARTMENT THAT ASSISTS THOSE PLANNING A MEETING OR OTHER GROUP EVENT IN THE AREA. OUR PRIMARY GOAL IS TO PROACTIVELY ATTRACT MEETINGS AND EVENTS THAT TAKE PLACE DURING OFF-PEAK TIMES (NEED TIMES), HELPING ENSURE GREATER INDUSTRY SUSTAINABILITY BY SPREADING OUT DEMAND FOR HOSPITALITY BUSINESSES AND STAFF RESOURCES. TARGET GROUP MARKETS INCLUDE BUT ARE NOT LIMITED TO STATE, REGIONAL AND NATIONAL ASSOCIATIONS; CORPORATE; SMERF (SOCIAL, MILITARY, EDUCATION, RELIGIOUS AND FRATERNAL); SPORTS; AND GROUP TOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt23. DESTINATION DEVELOPMENT TRAVERSE CITY TOURISM SUPPORTS EFFORTS BEING PUT FORTH - INCLUDING LARGE- SCALE REGIONAL PARTNERSHIPS THAT ARE FOCUSED ON THE DEVELOPMENT OF NEW OR IMPROVED REGIONAL ASSETS SUCH AS SPORTS FACILITIES AND ATTRACTIONS. FURTHER, IT PROVIDES A RANGE OF SUPPORTS FOR EVENTS AND BUSINESS MODELS THAT CAN ENHANCE OUR REGIONAL APPEAL AND REPUTATION AND WORKFORCE-RELATED INITIATIVES THAT CAN BOLSTER THE FUTURE SUSTAINABILITY OF THE HOSPITALITY INDUSTRY AND ENSURE A STRONG LOCAL ECONOMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MEMBERSHIPS OF THE VISITORS BUREAU CONSISTS OF AREA BUSINESSES THAT OPERATE WITHIN THE LOCAL HOSPITALITY INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE VISITORS BUREAU CONSISTS OF BUSINESS MEMBERS THAT ELECT AMONG THEMSELVES INDIVIDUALS TO PARTICIPATE ON THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR WHEN PRESENTED BY THE BUREAU'S AUDITING AND TAX PREPARATION FIRM AND SENT TO THE BOARD FOR APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONFLICTS OF INTEREST ARE REVIEWED ANNUALLY AS WELL AS ON AN AS NEEDED BASIS DURING A REGULARLY SCHEDULED MEETING OF THE GOVERNING BOARD AND ANY TIME SUCH A CONFLICT MAY ARISE IN THE COURSE OF DOING BUSINESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7UPON THE COMPLETION OF EACH YEAR, THE BOARD OF DIRECTORS SELECTS A COMPENSATION REVIEW COMMITTEE THAT EVALUATES THE ORGANIZATION'S PERFORMANCE, AS DETERMINED BY THE AUDITED FINANCIAL STATEMENTS, AGAINST THE GOALS AND FINANCIAL OBJECTIVES AS DEFINED BY THE BOARD. THE RESULTS OF THIS EVALUATION HELP DETERMINE THE COMPENSATION OF THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE BOARD APPROVES THE ANNUAL OPERATING BUDGET WHICH INCLUDES A REVIEW OF STAFF COMPENSATION COSTS. FOR STAFF POSITIONS, THE EXECUTIVE DIRECTOR EVALUATES COMPENSATION IN COMPARISON WITH INFORMATION PROVIDED BY "DESTINATION MARKETING ASSOCIATION INTERNATIONAL- AND THE "MICHIGAN ASSOCIATION OF CONVENTION AND VISITORS BUREAUS".
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9NO DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7A

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$10.6$0.56$10.0$12.6$11.0$1.66
2023Detailed filing. Detailed filing data is available for this year.$9.22$0.85$8.38$10.8$9.29$1.46
2022Detailed filing. Detailed filing data is available for this year.$7.74$0.82$6.92$9.46$8.97$0.49
2021Detailed filing. Detailed filing data is available for this year.$7.30$0.87$6.43$8.52$6.46$2.06
2020Detailed filing. Detailed filing data is available for this year.$5.01$0.65$4.36$6.45$5.30$1.15
2019Detailed filing. Detailed filing data is available for this year.$3.90$0.68$3.22$6.91$6.69$0.22
2018Detailed filing. Detailed filing data is available for this year.$3.60$0.61$2.99$6.81$6.61$0.19
2017Detailed filing. Detailed filing data is available for this year.$3.76$0.96$2.80$6.49$6.18$0.31
2016Detailed filing. Detailed filing data is available for this year.$2.72$0.23$2.50$6.19$6.17$0.02
2015Detailed filing. Detailed filing data is available for this year.$2.65$0.17$2.47$5.92$5.53$0.39
2014Detailed filing. Detailed filing data is available for this year.$2.35$0.27$2.09$5.37$5.43$0.06
2013Detailed filing. Detailed filing data is available for this year.$2.35$0.20$2.15$5.21$5.06$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.24$0.25$1.99$4.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.00$0.24$1.77$3.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.04$0.80$1.97