Civic Intelligence

Little Falls Convention & Visitors Burea

EIN 41-1952750 • 501(c)6 • Little Falls, MN

Profile

To increase tourism in little falls, mn, through the promotion of the community as a complete visitor experience by means of destination marketing and tourism development.

606 First St SELittle Falls, MN 56345

www.littlefallsmn.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

49th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

50th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • <$500k nonprofits • Source year 2022

Net Margin

80th percentile

19%

Higher net margin than 80% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2022

Top Officer Pay

95th percentile

$47,400

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 24.3% of source-year revenue.

501(c)6 • <$500k nonprofits • Source year 2015

Asset Growth

96th percentile

89%

Faster asset growth than 96% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

77th percentile

21%

Faster revenue growth than 77% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Down

$0

Down $121,389 (-100%) from 2022

Liabilities

Flat

$0

Flat from 2022

Net Assets

Down

$0

Down $121,389 (-100%) from 2022

Revenue

Down

$273,834

Down $25,363 (-8.5%) from 2022

Expenses

Up

$395,223

Up $153,228 (+63%) from 2022

Net Income

Down

-$121,389

Down $178,591 (-312%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150K$100K$50K$0Assets 2011: $78,741Liabilities 2011: $02011Assets 2012: $61,193Liabilities 2012: $0Net Assets 2012: $61,1932012Assets 2013: $56,767Liabilities 2013: $0Net Assets 2013: $56,7672013Assets 2014: $40,458Liabilities 2014: $0Net Assets 2014: $40,4582014Assets 2015: $40,605Liabilities 2015: $0Net Assets 2015: $40,6052015Assets 2016: $34,481Liabilities 2016: $23,221Net Assets 2016: $11,2602016Assets 2017: $24,719Liabilities 2017: $0Net Assets 2017: $24,7192017Assets 2018: $37,154Liabilities 2018: $0Net Assets 2018: $37,1542018Assets 2019: $71,387Liabilities 2019: $0Net Assets 2019: $71,3872019Assets 2020: $74,216Liabilities 2020: $0Net Assets 2020: $74,2162020Assets 2021: $64,187Liabilities 2021: $0Net Assets 2021: $64,1872021Assets 2022: $121,389Liabilities 2022: $0Net Assets 2022: $121,3892022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2023

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$200K$0-$200KRevenue 2011: $162,684Expenses 2011: $153,214Net Income 2011: $9,4702011Expenses 2012: $176,9582012Revenue 2013: $164,415Expenses 2013: $168,841Net Income 2013: -$4,4262013Revenue 2014: $178,092Expenses 2014: $194,401Net Income 2014: -$16,3092014Revenue 2015: $194,776Expenses 2015: $194,629Net Income 2015: $1472015Revenue 2016: $179,582Expenses 2016: $208,927Net Income 2016: -$29,3452016Revenue 2017: $232,072Expenses 2017: $218,613Net Income 2017: $13,4592017Revenue 2018: $249,039Expenses 2018: $236,604Net Income 2018: $12,4352018Revenue 2019: $252,565Expenses 2019: $218,332Net Income 2019: $34,2332019Revenue 2020: $181,001Expenses 2020: $178,172Net Income 2020: $2,8292020Revenue 2021: $247,478Expenses 2021: $257,507Net Income 2021: -$10,0292021Revenue 2022: $299,197Expenses 2022: $241,995Net Income 2022: $57,2022022Revenue 2023: $273,834Expenses 2023: $395,223Net Income 2023: -$121,3892023

Highlighted filing

2023

Revenue$273,834
Expenses$395,223
Net Income-$121,389

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 30, 2024
Return Version
2023v5.1
Gross Receipts
$273,834
Mission and Program Overview

Mission

Attract visitors to little falls via advertising & promotions.

To increase tourism in little falls, mn, through the promotion of the community as a complete visitor experience by means of destination marketing and tourism development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$121,389$0▼ $121,389
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$121,389$0▼ $121,389
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$121,389$0▼ $121,389
Total Net Assets Fund Balance$121,389$0▼ $121,389
Total Liabilities and Net Assets / Fund Balance$121,389$0▼ $121,389
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Sabrina KoelschExecutive DirectorFT$50,000$50,000

Board Members and Trustees

NameTitle
Kyle WensmannPresident
Tony ArmagostVice President
Cassie LarkinDirector
Christina JohnsonDirector
Chuck ZwillingDirector
Zach KoslowskiDirector
Julia MuellerSecretary
Mike LattimerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$219,680
Program Service Revenue
$52,751
Investment Income
$1,403
Other Revenue
$0
Change in Net Assets
$-121,389
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$174,822
Grants and Similar Amounts Paid$120,480
Salaries, Compensation, and Employee Benefits$99,921
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$120,480
Advertising---$96,296
Current Officers, Directors, Trustees, and Key Employees---$50,000
Other Salaries and Wages---$41,105
Payroll Taxes---$7,716
Office Expenses---$6,382
Fees for Services Accounting---$4,990
Other Expenses---$1,329
Other Employee Benefits---$1,100
Travel---$910
All Other Expenses---$530
Insurance---$363
Total Functional Expenses$0$0$0$395,223
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Little Falls Area Chamber of Commerce and TourismLittle Falls, MN501(c)(6)Aquisition of Little Falls Convention & Visitors Bureau by Little Falls Area Chamber of Commerce and Tourism$120,480
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
Yes
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 B, Line 11B

The board does an annual review with the organization's accountant prior to filing of the 990.

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

If a board member had any personal connection to a voting opportunity, they would recuse themselves from the vote.

Form 990, Part VI, Section B, Line 15

Data comparison from other cvb's and the executive director and staff, benefits review, and evaluations with motion from an executive committee and the board approval. Completed products, data from the webiste traffic, co-op opportunities, and written and verbal communication skills. Evaluation from the executive director completed, cvb board of directors final discussion and decision. Comparison to other cvb same size demographic and income scale.

Form 990, Part VI, Section C, Line 19

The documents are stored digitally and can be viewed at anytime upon request in a reasonable amount of time from request. If the public would like to have copies, they are .25 per copy (2 sided).

Filing and Contact Details

Filer

Filer Name
Little Falls Convention & Visitors Burea
EIN
41-1952750
Phone
3206164959
Address
606 FIRST ST SE, LITTLE FALLS, MN 56345

Signing Officer

Name
Sabrina Koelsch
Title
Executive Director
Phone
3206164959
Signed
2024-09-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sabrina Koelsch
Formed
1999
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
3
Volunteers
8

Preparer

Firm
SCHLENNER WENNER & CO CPA'S PA
Address
630 ROOSEVELT RD STE 201, ST CLOUD, MN 56301
Preparer
Shelley M Gaetz
Phone
3202510286
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The little falls convention and visitors bureau is recognized by the internal revenue service as a not-for-profit organization under irs code section 501(c)(6). Due to the not-for-profit nature and provision of the organization, all income and expenses attributable to the mission of the organization are tax exempt and accordingly no provision or liability for income taxes have been made in the financial statements and contributions to the organization are tax deductible to donors as allowed by irs regulations. However, the organization is required to pay state and federal income taxes on unrelated business income. If the organization were to engage in any activities that resulted in unrelated business income, a tax would be assessed on that activity. The organization is open and subject to examination generally for three years after the filing date.

Raw XML Appendix375 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE LITTLE FALLS CONVENTION AND VISITORS BUREAU IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A NOT-FOR-PROFIT ORGANIZATION UNDER IRS CODE SECTION 501(C)(6). DUE TO THE NOT-FOR-PROFIT NATURE AND PROVISION OF THE ORGANIZATION, ALL INCOME AND EXPENSES ATTRIBUTABLE TO THE MISSION OF THE ORGANIZATION ARE TAX EXEMPT AND ACCORDINGLY NO PROVISION OR LIABILITY FOR INCOME TAXES HAVE BEEN MADE IN THE FINANCIAL STATEMENTS AND CONTRIBUTIONS TO THE ORGANIZATION ARE TAX DEDUCTIBLE TO DONORS AS ALLOWED BY IRS REGULATIONS. HOWEVER, THE ORGANIZATION IS REQUIRED TO PAY STATE AND FEDERAL INCOME TAXES ON UNRELATED BUSINESS INCOME. IF THE ORGANIZATION WERE TO ENGAGE IN ANY ACTIVITIES THAT RESULTED IN UNRELATED BUSINESS INCOME, A TAX WOULD BE ASSESSED ON THAT ACTIVITY. THE ORGANIZATION IS OPEN AND SUBJECT TO EXAMINATION GENERALLY FOR THREE YEARS AFTER THE FILING DATE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt0120480
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(6)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0AQUISITION OF LITTLE FALLS CONVENTION & VISITORS BUREAU BY LITTLE FALLS AREA CHAMBER OF COMMERCE AND TOURISM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0LITTLE FALLS AREA CHAMBER OF COMMERCE AND TOURISM
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0200 1ST ST NW
IRS990ScheduleI/RecipientTable/USAddress/CityNm0LITTLE FALLS
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd056345
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd01
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0CASH
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0LITTLE FALLS AREA CHAMBER OF COMMERCE AND TOURISM
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02023-11-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt0120480
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(C)(6)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0200 1ST ST NW
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0LITTLE FALLS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0MN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd056345
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD DOES AN ANNUAL REVIEW WITH THE ORGANIZATION'S ACCOUNTANT PRIOR TO FILING OF THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IF A BOARD MEMBER HAD ANY PERSONAL CONNECTION TO A VOTING OPPORTUNITY, THEY WOULD RECUSE THEMSELVES FROM THE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DATA COMPARISON FROM OTHER CVB'S AND THE EXECUTIVE DIRECTOR AND STAFF, BENEFITS REVIEW, AND EVALUATIONS WITH MOTION FROM AN EXECUTIVE COMMITTEE AND THE BOARD APPROVAL. COMPLETED PRODUCTS, DATA FROM THE WEBISTE TRAFFIC, CO-OP OPPORTUNITIES, AND WRITTEN AND VERBAL COMMUNICATION SKILLS. EVALUATION FROM THE EXECUTIVE DIRECTOR COMPLETED, CVB BOARD OF DIRECTORS FINAL DISCUSSION AND DECISION. COMPARISON TO OTHER CVB SAME SIZE DEMOGRAPHIC AND INCOME SCALE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE DOCUMENTS ARE STORED DIGITALLY AND CAN BE VIEWED AT ANYTIME UPON REQUEST IN A REASONABLE AMOUNT OF TIME FROM REQUEST. IF THE PUBLIC WOULD LIKE TO HAVE COPIES, THEY ARE .25 PER COPY (2 SIDED).
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt0121389
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt0121389
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0219680
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/TotalAmt0395223
IRS990/TotalGrossUBIAmt029406
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0121389
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0274743
IRS990/TotalProgramServiceRevenueAmt052751
IRS990/TotalReportableCompFromOrgAmt050000
IRS990/TotalRevenueGrp/ExclusionAmt01403
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt023345
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0273834
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt029406
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0121389
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt0910
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0606 FIRST ST SE
IRS990/USAddress/CityNm0LITTLE FALLS
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd056345
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.LITTLEFALLSMN.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SABRINA KOELSCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03206164959
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LITTLE FALLS CONVENTION & VISITORS BUREA
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0BUREAU
ReturnHeader/Filer/BusinessNameControlTxt0LITT
ReturnHeader/Filer/EIN0411952750
ReturnHeader/Filer/PhoneNum03206164959
ReturnHeader/Filer/USAddress/AddressLine1Txt0606 FIRST ST SE
ReturnHeader/Filer/USAddress/CityNm0LITTLE FALLS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd056345
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411656121
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCHLENNER WENNER & CO CPA'S PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0630 ROOSEVELT RD STE 201
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ST CLOUD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd056301
ReturnHeader/PreparerPersonGrp/PhoneNum03202510286
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHELLEY M GAETZ
ReturnHeader/ReturnTs02024-10-02T10:10:28-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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