Civic Intelligence

New Orleans Convention & Visitors Bureau

990 • Fiscal year 2018 • EIN 72-0540607

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

Refreshing map…

2020 St Charles AvenueNew Orleans, LA 70130

(504) 566-5011

Siviq Scores

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

Liabilities / Assets

24th percentile

0.15x

Higher debt load relative to assets than 24% of similar nonprofits.

2018 filings • 501(c)6 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

31st percentile

0.23x

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

2018 filings • 501(c)6 • $50M-$100M nonprofits • Source year 2018

Net Margin

49th percentile

4.4%

Higher net margin than 49% of similar nonprofits.

2018 filings • 501(c)6 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

44th percentile

$639,465

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2018 filings • 501(c)6 • $50M-$100M nonprofits • Source year 2018

Asset Growth

53rd percentile

4.7%

Faster asset growth than 53% of similar nonprofits.

2018 filings • 501(c)6 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

52nd percentile

6.0%

Faster revenue growth than 52% of similar nonprofits.

2018 filings • 501(c)6 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Assets

Up

$55,803,548

Up $2,486,691 (+4.7%) from 2017

Net Assets

Down

$47,207,284

Down $407,311 (-0.9%) from 2017

Liabilities

Up

$8,596,264

Up $2,894,002 (+51%) from 2017

Revenue

Up

$37,554,458

Up $2,137,486 (+6.0%) from 2017

Expenses

Up

$35,910,773

Up $1,093,441 (+3.1%) from 2017

Net Income

Up

$1,643,685

Up $1,044,045 (+174%) from 2017

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2011: $31,200,651Liabilities 2011: $1,739,726Net Assets 2011: $29,460,9252011Assets 2012: $31,728,905Liabilities 2012: $1,374,838Net Assets 2012: $30,354,0672012Assets 2013: $33,402,013Liabilities 2013: $1,562,082Net Assets 2013: $31,839,9312013Assets 2014: $38,305,249Liabilities 2014: $4,097,035Net Assets 2014: $34,208,2142014Assets 2015: $43,432,930Liabilities 2015: $5,078,923Net Assets 2015: $38,354,0072015Assets 2016: $50,084,116Liabilities 2016: $4,594,158Net Assets 2016: $45,489,9582016Assets 2017: $53,316,857Liabilities 2017: $5,702,262Net Assets 2017: $47,614,5952017Assets 2018: $55,803,548Liabilities 2018: $8,596,264Net Assets 2018: $47,207,2842018Assets 2019: $64,093,348Liabilities 2019: $12,693,250Net Assets 2019: $51,400,0982019Assets 2020: $60,860,618Liabilities 2020: $10,647,100Net Assets 2020: $50,213,5182020Assets 2021: $100,855,624Liabilities 2021: $42,384,874Net Assets 2021: $58,470,7502021Assets 2022: $103,174,957Liabilities 2022: $34,380,954Net Assets 2022: $68,794,0032022Assets 2023: $114,964,248Liabilities 2023: $30,916,439Net Assets 2023: $84,047,8092023Assets 2024: $111,028,005Liabilities 2024: $11,388,296Net Assets 2024: $99,639,7092024

Highlighted filing

2018

Assets$55,803,548
Liabilities$8,596,264
Net Assets$47,207,284

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2011: $12,539,6842011Expenses 2012: $13,607,9432012Revenue 2013: $15,050,854Expenses 2013: $15,258,011Net Income 2013: -$207,1572013Revenue 2014: $20,784,140Expenses 2014: $18,592,682Net Income 2014: $2,191,4582014Revenue 2015: $33,820,062Expenses 2015: $28,987,921Net Income 2015: $4,832,1412015Revenue 2016: $36,744,041Expenses 2016: $30,073,477Net Income 2016: $6,670,5642016Revenue 2017: $35,416,972Expenses 2017: $34,817,332Net Income 2017: $599,6402017Revenue 2018: $37,554,458Expenses 2018: $35,910,773Net Income 2018: $1,643,6852018Revenue 2019: $37,564,323Expenses 2019: $35,395,104Net Income 2019: $2,169,2192019Revenue 2020: $12,850,442Expenses 2020: $15,872,129Net Income 2020: -$3,021,6872020Revenue 2021: $31,406,983Expenses 2021: $25,437,184Net Income 2021: $5,969,7992021Revenue 2022: $52,768,320Expenses 2022: $38,520,278Net Income 2022: $14,248,0422022Revenue 2023: $55,402,309Expenses 2023: $42,735,630Net Income 2023: $12,666,6792023Revenue 2024: $60,956,868Expenses 2024: $47,271,948Net Income 2024: $13,684,9202024

Highlighted filing

2018

Revenue$37,554,458
Expenses$35,910,773
Net Income$1,643,685
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$37,554,458
Mission and Program Overview

Mission

The mission of the new orleans convention & visitors bureau is to create vibrant economic growth by developing and marketing the new orleans region as the premier visitor destination... Involving and leading the diverse elements of the hospitality industry and the community.

Developing and marketing the new orleans region as the premier convention and visitor destination.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$18,634,248$17,725,718▼ $908,530
Investments in Publicly Traded Securities$16,889,325$15,207,810▼ $1,681,515
Land, Buildings, and Equipment, Net$9,998,815$12,832,190▲ $2,833,375
Accounts Receivable$6,008,256$7,184,458▲ $1,176,202
Prepaid Expenses and Deferred Charges$541,121$1,635,180▲ $1,094,059
Intangible Assets$1,200,000$1,200,000→ $0
Other Notes and Loans Receivable, Net$20,225$0▼ $20,225
Inventories for Sale or Use$24,867$18,192▼ $6,675
Total Assets$53,316,857$55,803,548▲ $2,486,691
Liabilities
Other Liabilities$3,161,584$4,939,882▲ $1,778,298
Accounts Payable and Accrued Expenses$2,488,867$3,640,782▲ $1,151,915
Deferred Revenue$51,811$15,600▼ $36,211
Total Liabilities$5,702,262$8,596,264▲ $2,894,002
Net Assets / Fund Balance
Unrestricted Net Assets$34,404,687$35,030,919▲ $626,232
Temporarily Rstr Net Assets$13,209,908$12,176,365▼ $1,033,543
Total Net Assets Fund Balance$47,614,595$47,207,284▼ $407,311
Total Liabilities and Net Assets / Fund Balance$53,316,857$55,803,548▲ $2,486,691

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,454,231$3,888,438$13,342,669
Land$3,373,130-$3,373,130
Other Land Buildings$0$940,892$940,892
Equipment$4,829$864,955$869,784
Leasehold Improvements$0$459,042$459,042
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jstephen PerryPresident/CEOFT$369,607$269,858$639,465
Cheryl TeamerSenior VP Public AffairsFT$182,450$78,877$261,327
Kim PriezVice-president of TourismFT$163,081$94,895$257,976
Robert ResoDirector of New Business DevelopmentFT$133,958$80,124$214,082
Kristian SonnierVP Comm/public RelationsFT$137,741$74,018$211,759
Sallee PavlovichDirector Corp. & Trade Show Conv. SalesFT$119,543$74,174$193,717
Brian WalkerVP Information SystemsFT$106,540$68,824$175,364
Cara BanaschSenior VP of Convention SalesFT$117,833$56,122$173,955
Tammie BotelerVP FinanceFT$113,942$53,368$167,310
Helen MesfinManager Eastern Regional Office Convention SalesFT$141,504$20,743$162,247
Helen MesfinManager Eastern Regional Office Conv-$95,256$66,991$162,247
Jeffrey AndingVP External AffairsFT$111,896$49,624$161,520
Nathan PennisonSenior Account ExecutiveFT$85,841$73,476$159,317
Donna GloverDirector of Association Meeting SalesFT$140,985$16,993$157,978
Donna GloverDirector of Association Meeting Sale-$92,236$65,742$157,978
Carl LautoSenior Account ExecutiveFT$96,644$54,416$151,060
Lauren CasonDirector of Marketing & CommunicationsFT$137,416$11,990$149,406

Board Members and Trustees

NameTitle
Steve CaputoChair Elect
Gregory RusovichChairman
Michael SmithPast Chairman
Aaron DirksDirector
Amy ReimerDirector
Charlee WilliamsonDirector
David TeichDirector
Diane LyonsDirector
Frank QuinnDirector
Jim OliverDirector
Kathie JacobsDirector
Katy CasbarianDirector
Mickal AdlerDirector
Quentin MesserDirector
Robert BrayDirector
Stephen WatsonDirector
Terry EptonDirector
Zeid AmmariDirector
Brandy ChristianDirector - Ex Officio
Doug ThorntonDirector - Ex Officio
John RomanoDirector - Ex Officio
Justin AugustineDirector - Ex Officio
Kevin DollioleDirector - Ex Officio
Ron FormanDirector - Ex Officio
Stan HarrisDirector - Ex Officio
Jim CookAssistant Secretary
Melvin RodrigueEx Officio
Darryl BergerSecretary Ex-officio
Steve PettusTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
BroadmoorConstruction2740 N ARNOULT ROAD, Metairie, LA 70002, Uk$2,224,510
Audubon CommissionRiverfront Development6500 MAGAZINE, New Orleans, LA 70118$2,000,000
British AirwaysAdvertising/risk Mitigation2900 OLYMPIC BLVD, Santa Monica, CA 90404$1,988,478
Dick Clark Production Rights LLCBroadcasting2803 ST PHILLIP STREET, New Orleans, LA 70119$700,000
TrumpetAdvertising-$428,560
Revenue and Support

Revenue Composition

Contributions and Grants
$1,695,308
Program Service Revenue
$35,291,874
Investment Income
$567,276
Other Revenue
$0
Change in Net Assets
$1,643,685

Audited Revenue Reconciliation

Revenue per Audited Statements
$37,554,458
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-1,900,996
Total Revenue per Audited Statements
$35,653,462
Total Revenue per Form 990
$37,554,458
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$26,680,515
Salaries, Compensation, and Employee Benefits$9,230,258
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising---$16,030,951
Other Salaries and Wages---$5,268,457
Current Officers, Directors, Trustees, and Key Employees---$2,456,476
Travel---$1,853,454
Conferences and Meetings---$842,916
Other Employee Benefits---$727,493
All Other Expenses---$665,139
Other Expenses---$545,320
Payroll Taxes---$521,047
Occupancy---$359,227
Office Expenses---$356,081
Depreciation Depletion---$341,552
Information Technology---$292,408
Fees for Services Other---$274,685
Pension Plan Contributions---$256,785
Fees for Services Lobbying---$157,000
Insurance---$135,942
Fees for Services Accounting---$92,880
Fees for Services Legal---$47,994
Total Functional Expenses$0$0$0$35,910,773

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$35,910,773
Total Expenses per Audited Statements$35,910,773
Total Expenses per Form 990$35,910,773
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
7
Employees
7
Spending
$800,957

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
ChinaProgram ServicesMARKET NEW ORLEANS AS A TOURIST DESTINATION; EXPENDITURES INCLUDE FEES AND OPERATIONAL EXPENSES.11$203,703
United KingdomProgram ServicesMARKET NEW ORLEANS AS A TOURIST DESTINATION; EXPENDITURES INCLUDE FEES AND OPERATIONAL EXPENSES.11$185,987
FranceProgram ServicesMARKET NEW ORLEANS AS A TOURIST DESTINATION; EXPENDITURES INCLUDE FEES AND OPERATIONAL EXPENSES.11$161,102
GermanyProgram ServicesMARKET NEW ORLEANS AS A TOURIST DESTINATION; EXPENDITURES INCLUDE FEES AND OPERATIONAL EXPENSES.11$147,253
CanadaProgram ServicesMARKET NEW ORLEANS AS A TOURIST DESTINATION; EXPENDITURES INCLUDE FEES AND OPERATIONAL EXPENSES.11$71,779
BrazilProgram ServicesMARKET NEW ORLEANS AS A TOURIST DESTINATION; EXPENDITURES INCLUDE FEES AND OPERATIONAL EXPENSES.11$19,733
MexicoProgram ServicesMARKET NEW ORLEANS AS A TOURIST DESTINATION; EXPENDITURES INCLUDE FEES AND OPERATIONAL EXPENSES.11$11,400
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

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$157,000
Total Nondeductible Lobbying and Political Cost$157,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Accrued Liabilities$4,619,796
Promise to Give$315,000
Long Term Debt, Net of Debt Issuance Cost$5,086
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
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 A, Line 6

1.1 eligibility for admission. Any natural person, trust, limited liability company, partnership, corporation or other judicial person is eligible for admission as a member of the organization. 1.2 admission to membership. Admission to membership shall be by application in accordance with procedures from time to time approved by the board of directors and upon payment of dues assessed. The executive committee may deny admission to membership to any applicant that the committee reasonably believes to have interests that, on the whole, are not substantially aligned with the interests of the tourism, hospitality, special events, sports, entertainment, and other related industries in the parishes of orleans, jefferson, st. Bernard, st. Charles, st. Tammany, plaquemines or st. John the baptist (the "greater new orleans area"). 1.3 dues and assessments. The members shall be divided into such classes and series as are shown on exhibit a to these bylaws. The rights, privileges and obligations of members shall be identical in all respects other than (i) with respect to dues and assessments to which members of the respective classes and series are liable as specified in exhibit a and (ii) with respect to the membership benefits accorded basic and advance members (classes i and ii, respectively). The board of directors shall fix by resolution the amount, due dates and methods of payment of the dues and the assessments to be paid by the members to the organization. 1.4 affiliates. A person is eligible to be a member only for so long as all other entities that are (i) owned, controlled or managed by or under common ownership or management with the member and (ii) are engaged in operating one or more restaurants, hotels or other hospitality companies in the greater new orleans area ("affiliates") are members in good standing. For these purposes, "control" means the ability to influence management in the day-to-day operation of a business. This provision shall be construed to accomplish its principal purpose of assuring that all affiliated parties in a position to benefit from membership should be members in proportion to that potential benefit. All persons that are part of a group whose members share or appear likely to share marketing information with one another must be members if anyone of them is a member. For example, hotels and restaurants that are under common management shall be considered to be part of such a group and, therefore, to be affiliates; while hotels or restaurants operated as separate franchises under the same flag would not. 1.5 disciplinary procedures. The board of directors shall at all times maintain in effect a statement of disciplinary procedures concerning standards and procedures for imposition of sanctions, including suspension and expulsion, by the executive committee against members for nonpayment of dues and other acts and omissions the board identifies in the statement of disciplinary procedures as inimical to the interests of the organization or the industry. Unless the executive committee expressly provides otherwise, suspension or expulsion of a member shall automatically effect the suspension or expulsion, as the case may be, of all the member's affiliates. 1.6 reinstatement. The executive committee, in its discretion, may re-admit an expelled member at any time except that an expelled member and its affiliates shall be ineligible for re-admission for a two year period following expulsion in the following circumstances: (i) a member that has been expelled more than once for non-payment of dues or assessments and (ii) a member that has been expelled for any reason other than non-payment of dues. Re-admission shall be by application only and shall be governed by secion 1.2.

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

Voting. Each member in good standing is entitled to one vote. The members must vote by a ballot. A majority of the votes cast at any meeting at which a quorum is present shall suffice to constitute the approval or other action of the members.

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

Upon completion of the tax return by the auditing firm, a draft is submitted to new orleans & company for review. After a thorough review is completed internally and clearing of all questions and answers, the audit committee is convened. A draft of the tax return is then reviewed in depth with the audit committee prior to being filed. A draft of the tax return is sent to the full board for concurrence on recommendations from the audit committee and for their approval prior to filing.

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

Forms signed annually; members with potential conflicts are not allowed to vote on issues pertaining to their potentially conflicted area of interest.

Form 990, Part VI, Section B, Line 15

Periodic surveys and comparable data obtained from a third party are used to establish compensation. See also schedule j part iii.

Form 990, Part VI, Section C, Line 19

New orleans & company makes its governing documents and conflict of interest policy available to the public upon request, and their financial statements are public record and can be obtained through the louisiana legislative auditor.

FORM 990, PART VI, SECTION A, LINE 9:

Robert reso 4113 lake trail drive kenner, la 70065 cara banasch 1720 upperline street new orleans, la 70115

Filing and Contact Details

Filer

Filer Name
New Orleans & Company
EIN
72-0540607
Phone
5045665011
Address
2020 ST CHARLES AVENUE, NEW ORLEANS, LA 70130

Signing Officer

Name
J Stephen Perry
Title
President & CEO
Phone
5045665011
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
J Stephen Perry
Formed
1960
Legal Domicile
La
Voting Board Members
29
Independent Board Members
29
Employees
281
Volunteers
0

Preparer

Firm
Laporte Apac
Address
111 VETERANS MEMORIAL BLVD 600, METAIRIE, LA 70005-4958
Preparer
John S Wiles CPA
Phone
5048355522
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from prior year.

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america provide accounting and disclosure guidance about positions taken by an entity in its tax returns that might be uncertain. The company believes that it has appropriate support for any tax positions taken, and management has determined that there are no uncertain tax positions that are material to the financial statements. Penalties and interest assessed by income taxing authorities, if any, would be included in income tax expense.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Net assets released from restrictions 150,000.

Raw XML AppendixShowing 400 of 1,015 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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IRS990/Desc0CONVENTION SALES, SERVICES, AND GROUP LEISURE MARKETING:NEW ORLEANS & COMPANY CONTACTS MANY ASSOCIATIONS AND CORPORATE BUSINESSES TO SOLICIT FACILITIES IN NEW ORLEANS; 1,254 CONVENTIONS AND MEETINGS WERE BOOKED BY NEW ORLEANS & COMPANY IN 2018. THE CONVENTION & LEISURE SALES TEAMS COMBINED BOOKED A TOTAL OF 2,371,977 ROOM NIGHTS IN 2018. NEW ORLEANS & COMPANY ALSO PROVIDED ASSISTANCE TO 12,133 TRAVEL AGENTS AND 9,247 VISITORS IN 2018.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR - EX OFFICIO
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR - EX OFFICIO
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR - EX OFFICIO

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Summary only. Only limited summary data is available for this year.$111$11.4$99.6$61.0$47.3$13.7
2023Summary only. Only limited summary data is available for this year.$115$30.9$84.0$55.4$42.7$12.7
2022Summary only. Only limited summary data is available for this year.$103$34.4$68.8$52.8$38.5$14.2
2021Summary only. Only limited summary data is available for this year.$101$42.4$58.5$31.4$25.4$5.97
2020Summary only. Only limited summary data is available for this year.$60.9$10.6$50.2$12.9$15.9$3.02
2019Summary only. Only limited summary data is available for this year.$64.1$12.7$51.4$37.6$35.4$2.17
2018Detailed filing. Detailed filing data is available for this year.$55.8$8.60$47.2$37.6$35.9$1.64
2017Summary only. Only limited summary data is available for this year.$53.3$5.70$47.6$35.4$34.8$0.60
2016Summary only. Only limited summary data is available for this year.$50.1$4.59$45.5$36.7$30.1$6.67
2015Summary only. Only limited summary data is available for this year.$43.4$5.08$38.4$33.8$29.0$4.83
2014Summary only. Only limited summary data is available for this year.$38.3$4.10$34.2$20.8$18.6$2.19
2013Summary only. Only limited summary data is available for this year.$33.4$1.56$31.8$15.1$15.3$0.21
2012Summary only. Only limited summary data is available for this year.$31.7$1.37$30.4$13.6
2011Summary only. Only limited summary data is available for this year.$31.2$1.74$29.5$12.5