Civic Intelligence

Albany County Convention & Visitors Bureau Inc

990 • Fiscal year 2016 • EIN 51-0233241

Jan 01, 2016 to Dec 31, 2016 • Filed on May 10, 2017

25 Quackenbush SquareAlbany, NY 12207

(518) 434-1217

Siviq Scores

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

Liabilities / Assets

37th percentile

0.11x

Higher debt load relative to assets than 37% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

37th percentile

0.11x

Higher debt load relative to revenue than 37% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Net Margin

51st percentile

3.4%

Higher net margin than 51% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

60th percentile

$168,142

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Asset Growth

66th percentile

8.7%

Faster asset growth than 66% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

45th percentile

1.8%

Faster revenue growth than 45% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$2,043,206

Up $164,013 (+8.7%) from 2015

Net Assets

Up

$1,828,018

Up $88,536 (+5.1%) from 2015

Liabilities

Up

$215,188

Up $75,477 (+54%) from 2015

Revenue

Up

$2,032,345

Up $36,322 (+1.8%) from 2015

Expenses

Up

$1,963,197

Up $62,433 (+3.3%) from 2015

Net Income

Down

$69,148

Down $26,111 (-27%) from 2015

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,788,104Liabilities 2011: $106,355Net Assets 2011: $1,681,7492011Assets 2012: $1,632,530Liabilities 2012: $62,839Net Assets 2012: $1,569,6912012Assets 2013: $1,759,182Liabilities 2013: $189,491Net Assets 2013: $1,569,6912013Assets 2014: $1,843,284Liabilities 2014: $176,517Net Assets 2014: $1,666,7672014Assets 2015: $1,879,193Liabilities 2015: $139,711Net Assets 2015: $1,739,4822015Assets 2016: $2,043,206Liabilities 2016: $215,188Net Assets 2016: $1,828,0182016Assets 2017: $2,075,590Liabilities 2017: $200,832Net Assets 2017: $1,874,7582017Assets 2018: $2,124,977Liabilities 2018: $162,972Net Assets 2018: $1,962,0052018Assets 2019: $2,163,255Liabilities 2019: $155,073Net Assets 2019: $2,008,1822019Assets 2020: $2,086,813Liabilities 2020: $307,975Net Assets 2020: $1,778,8382020Assets 2021: $2,211,500Liabilities 2021: $561,032Net Assets 2021: $1,650,4682021Assets 2022: $2,082,849Liabilities 2022: $255,802Net Assets 2022: $1,827,0472022Assets 2023: $2,362,571Liabilities 2023: $266,492Net Assets 2023: $2,096,0792023Assets 2024: $2,660,359Liabilities 2024: $278,084Net Assets 2024: $2,382,2752024

Highlighted filing

2016

Assets$2,043,206
Liabilities$215,188
Net Assets$1,828,018

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,618,444Expenses 2011: $1,514,827Net Income 2011: $103,6172011Revenue 2012: $1,580,143Expenses 2012: $1,724,721Net Income 2012: -$144,5782012Revenue 2013: $1,734,982Expenses 2013: $1,747,993Net Income 2013: -$13,0112013Revenue 2014: $1,890,989Expenses 2014: $1,795,156Net Income 2014: $95,8332014Revenue 2015: $1,996,023Expenses 2015: $1,900,764Net Income 2015: $95,2592015Revenue 2016: $2,032,345Expenses 2016: $1,963,197Net Income 2016: $69,1482016Revenue 2017: $1,955,999Expenses 2017: $1,914,667Net Income 2017: $41,3322017Revenue 2018: $1,930,975Expenses 2018: $1,802,194Net Income 2018: $128,7812018Revenue 2019: $1,917,729Expenses 2019: $1,928,754Net Income 2019: -$11,0252019Revenue 2020: $1,143,287Expenses 2020: $1,423,865Net Income 2020: -$280,5782020Revenue 2021: $1,493,574Expenses 2021: $1,579,320Net Income 2021: -$85,7462021Revenue 2022: $1,984,293Expenses 2022: $1,721,016Net Income 2022: $263,2772022Revenue 2023: $2,120,636Expenses 2023: $1,904,976Net Income 2023: $215,6602023Revenue 2024: $2,291,322Expenses 2024: $2,071,681Net Income 2024: $219,6412024

Highlighted filing

2016

Revenue$2,032,345
Expenses$1,963,197
Net Income$69,148
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 10, 2017
Return Version
2016v3.0
Gross Receipts
$2,038,528
Mission and Program Overview

Mission

Promote Convention & Tourism

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$750,649$582,515▼ $168,134
Investments in Publicly Traded Securities$488,172$512,378▲ $24,206
Savings and Temporary Cash Investments$195,578$467,311▲ $271,733
Accounts Receivable$369,334$355,773▼ $13,561
Land, Buildings, and Equipment, Net$14,971$26,434▲ $11,463
Prepaid Expenses and Deferred Charges$22,392$20,493▼ $1,899
Inventories for Sale or Use$5,077$4,100▼ $977
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-
Intangible Assets-$0-
Total Assets$1,879,193$2,043,206▲ $164,013
Other Assets Total$33,020$74,202▲ $41,182
Liabilities
Accounts Payable and Accrued Expenses$118,997$192,754▲ $73,757
Deferred Revenue$20,714$22,434▲ $1,720
Total Liabilities$139,711$215,188▲ $75,477
Net Assets / Fund Balance
Unrestricted Net Assets$1,735,082$1,823,618▲ $88,536
Temporarily Rstr Net Assets$4,400$4,400→ $0
Total Net Assets Fund Balance$1,739,482$1,828,018▲ $88,536
Total Liabilities and Net Assets / Fund Balance$1,879,193$2,043,206▲ $164,013

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$691$363,364$364,055
Leasehold Improvements-$171,397$171,397
Equipment$25,743$129,922$155,665
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michele VennardPres/CEO/SecFT$163,245$4,897$168,142

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$156,769
Program Service Revenue
$40,095
Investment Income
$14,763
Other Revenue
$1,820,718
All Other Contributions
$266
Change in Net Assets
$69,148

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,032,345
Revenue Not Reported on Form 990
$25,571
Total Revenue per Audited Statements
$2,057,916
Total Revenue per Form 990
$2,032,345
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,084,765
Other Expenses$878,432
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$658,700$103,126-$761,826
All Other Expenses$202,826$17,118-$219,944
Current Officers, Directors, Trustees, and Key Employees$134,514$33,628-$168,142
Advertising$113,687--$113,687
Conferences and Meetings$96,119--$96,119
Payroll Taxes$62,016$10,801-$72,817
Other Employee Benefits$55,864$13,966-$69,830
Information Technology$66,837--$66,837
Fees for Services Other-$50,153-$50,153
Other Expenses$41,176--$41,176
Occupancy$24,000$6,000-$30,000
Depreciation Depletion$11,906$2,976-$14,882
Insurance$5,062$9,742-$14,804
Pension Plan Contributions$9,720$2,430-$12,150
Fees for Services Legal-$800-$800
Total Functional Expenses$1,712,457$250,740$0$1,963,197

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,969,380
Expenses per Audited Statements$1,963,197
Total Expenses per Form 990$1,963,197
Expenses Not Reported on Form 990$6,183
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
Lobbying 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
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

The members include local businesses

Form 990, Part VI, Line 11B: Form 990 Review Process

The board receives an electronic copy of the 990. The board members review and comment to the board via correspondence.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Each year, the organization reviews the policy, requests that new board members affirm the policy, and continuing members reaffirm the policy.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The president/ceo annually prepares a self evaluation which is considered by the executive committee and a written response is presented to the president by the chairperson. The organization participates in and subscribes to a bi-annual compensation survey which represents the foundation for compensation decisions and other staff positions.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Albany County Convention
EIN
51-0233241
Phone
5184341217
Address
25 QUACKENBUSH SQUARE, ALBANY, NY 12207

Signing Officer

Name
Michele Vennard
Title
President
Signed
2017-05-10
Discuss with paid preparer
Yes

Organization Details

Formed
1976
Legal Domicile
Ny
Voting Board Members
19
Independent Board Members
19
Employees
59

Preparer

Firm
T M Byxbee Co CPAs NY PC
Address
18 Computer Drive East Ste 101, Albany, NY 12205-1111
Preparer
Glenn R Winter CPA
Phone
5184582213
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E: Other Expenses

ALBANY AMBASSADORS: Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

AUTO: Column (A) - Total = $7684; Column (B) - Program Services = $7684; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

BANK CHARGES: Column (A) - Total = $6542; Column (B) - Program Services = $1283; Column (C) - Management & General = $5259; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

CAPITAL CENTER PROJECT: Column (A) - Total = $10670; Column (B) - Program Services = $10670; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

CREATIVE SERVICES: Column (A) - Total = $1660; Column (B) - Program Services = $1660; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

DUES AND SUBSCRIPTIONS: Column (A) - Total = $19281; Column (B) - Program Services = $19281; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

EQUIPMENT RENTAL & MAINTENANCE: Column (A) - Total = $17550; Column (B) - Program Services = $14040; Column (C) - Management & General = $3510; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

EVENT EXPENSES: Column (A) - Total = $3485; Column (B) - Program Services = $3485; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

MAINTENANCE: Column (A) - Total = $40736; Column (B) - Program Services = $37834; Column (C) - Management & General = $2902; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

MEMBER TRADE AGREEMENTS: Column (A) - Total = $2816; Column (B) - Program Services = $2816; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

MEMBERSHIP ACTIVITIES: Column (A) - Total = $10348; Column (B) - Program Services = $10348; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

MISCELLANEOUS: Column (A) - Total = $2484; Column (B) - Program Services = $1015; Column (C) - Management & General = $1469; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

PLANETARIUM EXPENSE: Column (A) - Total = $1495; Column (B) - Program Services = $1495; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Printing and Publications: Column (A) - Total = $5387; Column (B) - Program Services = $5387; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

PROMO ACTIVITIES: Column (A) - Total = $29936; Column (B) - Program Services = $29936; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

REGIONAL TRANSFERS: Column (A) - Total = $15000; Column (B) - Program Services = $15000; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

RESEARCH: Column (A) - Total = $3420; Column (B) - Program Services = $3420; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

STAFF DEVELOPMENT: Column (A) - Total = $3243; Column (B) - Program Services = $3243; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

SUPPLIES: Column (A) - Total = $11729; Column (B) - Program Services = $9565; Column (C) - Management & General = $2164; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

TELEPHONE: Column (A) - Total = $9194; Column (B) - Program Services = $7380; Column (C) - Management & General = $1814; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

TOURISM: Column (A) - Total = $17034; Column (B) - Program Services = $17034; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

UNRELATED BUSINESS TAX: Column (A) - Total = $250; Column (B) - Program Services = $250; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Financial Statement Notes

Part X : FIN48 Footnote

The Bureau files Form 990 Return of Organizations Exempt From Income Tax, Form 990T Exempt Organization Business Income Tax Return and New York CT-13 Unrelated Business Income Tax Return. The Bureau has adopted the provisions of FASB ASC 740-10 and as a result has identified its exemption from income tax under Section 501(c)(6) as a tax position which falls within the scope of this FASB ASC section. The Bureau does not believe this tax position will result in any change to its financial position. These returns are subject to examination by tax jurisdictions (generally for three years from the filing date), and as a result, returns for the years subsequent to the year ended December 31, 2012 remain subject to examination. No interest or penalties have been recognized in the Statement of Financial Position or Statement of Activities.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Cost of Sales $6183

Part XII, Line 2D: Other expenses and losses per audited F/S

Cost of Sales $6183

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IRS990/Form990PartVIISectionAGrp/TitleTxt1ASST TREAS
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IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHAIR ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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IRS990/PYOtherRevenueAmt01863544
IRS990/PYProgramServiceRevenueAmt035095
IRS990/PYRevenuesLessExpensesAmt095259
IRS990/PYSalariesCompEmpBnftPaidAmt01044929
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IRS990/PYTotalRevenueAmt01996023
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt069148
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.66$0.28$2.38$2.29$2.07$0.22
2023Detailed filing. Detailed filing data is available for this year.$2.36$0.27$2.10$2.12$1.90$0.22
2022Detailed filing. Detailed filing data is available for this year.$2.08$0.26$1.83$1.98$1.72$0.26
2021Detailed filing. Detailed filing data is available for this year.$2.21$0.56$1.65$1.49$1.58$0.09
2020Detailed filing. Detailed filing data is available for this year.$2.09$0.31$1.78$1.14$1.42$0.28
2019Detailed filing. Detailed filing data is available for this year.$2.16$0.16$2.01$1.92$1.93$0.01
2018Detailed filing. Detailed filing data is available for this year.$2.12$0.16$1.96$1.93$1.80$0.13
2017Detailed filing. Detailed filing data is available for this year.$2.08$0.20$1.87$1.96$1.91$0.04
2016Detailed filing. Detailed filing data is available for this year.$2.04$0.22$1.83$2.03$1.96$0.07
2015Detailed filing. Detailed filing data is available for this year.$1.88$0.14$1.74$2.00$1.90$0.10
2014Summary only. Only limited summary data is available for this year.$1.84$0.18$1.67$1.89$1.80$0.10
2013Summary only. Only limited summary data is available for this year.$1.76$0.19$1.57$1.73$1.75$0.01
2012Summary only. Only limited summary data is available for this year.$1.63$0.06$1.57$1.58$1.72$0.14
2011Summary only. Only limited summary data is available for this year.$1.79$0.11$1.68$1.62$1.51$0.10