Civic Intelligence

Albuquerque Convention & Visitors Bureau Inc

990 • Fiscal year 2018 • EIN 85-0285280

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 26, 2019

Organization ProfileWWW.VISITALBUQUERQUE.ORG

View Organization Page

20 First Plaza No 601Albuquerque, NM 87102

(505) 842-9918

Siviq Scores

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

Liabilities / Assets

86th percentile

0.61x

Higher debt load relative to assets than 86% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

27th percentile

0.13x

Higher debt load relative to revenue than 27% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Net Margin

33rd percentile

0.0%

Higher net margin than 33% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

21st percentile

$154,576

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2018

Asset Growth

35th percentile

-1.1%

Faster asset growth than 35% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

34th percentile

0.2%

Faster revenue growth than 34% of similar nonprofits.

2018 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$1,368,457

Down $15,025 (-1.1%) from 2017

Net Assets

Up

$540,313

Up $2,168 (+0.4%) from 2017

Liabilities

Down

$828,144

Down $17,193 (-2.0%) from 2017

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin33rd percentile

Revenue

Up

$6,404,793

Up $12,614 (+0.2%) from 2017

Expenses

Up

$6,402,625

Up $18,532 (+0.3%) from 2017

Net Income

Down

$2,168

Down $5,918 (-73%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $1,962,876Liabilities 2011: $490,751Net Assets 2011: $1,472,1252011Assets 2012: $2,188,898Liabilities 2012: $562,190Net Assets 2012: $1,626,7082012Assets 2013: $1,804,608Liabilities 2013: $691,031Net Assets 2013: $1,113,5772013Assets 2014: $1,366,611Liabilities 2014: $869,194Net Assets 2014: $497,4172014Assets 2015: $1,474,035Liabilities 2015: $955,500Net Assets 2015: $518,5352015Assets 2016: $1,283,651Liabilities 2016: $753,594Net Assets 2016: $530,0572016Assets 2017: $1,383,482Liabilities 2017: $845,337Net Assets 2017: $538,1452017Assets 2018: $1,368,457Liabilities 2018: $828,144Net Assets 2018: $540,3132018Assets 2019: $1,785,155Liabilities 2019: $1,237,324Net Assets 2019: $547,8312019Assets 2020: $2,206,425Liabilities 2020: $958,479Net Assets 2020: $1,247,9462020Assets 2021: $3,028,509Liabilities 2021: $1,254,374Net Assets 2021: $1,774,1352021Assets 2022: $4,916,660Liabilities 2022: $1,043,985Net Assets 2022: $3,872,6752022Assets 2023: $7,681,296Liabilities 2023: $2,309,252Net Assets 2023: $5,372,0442023Assets 2024: $6,515,956Liabilities 2024: $2,400,633Net Assets 2024: $4,115,3232024

Highlighted filing

2018

Assets$1,368,457
Liabilities$828,144
Net Assets$540,313
Open 2018 Filing

Operations Trend

Revenue Growth34th percentile

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2011: $5,746,7622011Expenses 2012: $6,062,9862012Expenses 2013: $6,192,5702013Revenue 2014: $6,538,208Expenses 2014: $7,154,368Net Income 2014: -$616,1602014Revenue 2015: $6,174,633Expenses 2015: $6,153,515Net Income 2015: $21,1182015Revenue 2016: $5,974,333Expenses 2016: $5,962,811Net Income 2016: $11,5222016Revenue 2017: $6,392,179Expenses 2017: $6,384,093Net Income 2017: $8,0862017Revenue 2018: $6,404,793Expenses 2018: $6,402,625Net Income 2018: $2,1682018Revenue 2019: $6,566,972Expenses 2019: $6,559,454Net Income 2019: $7,5182019Revenue 2020: $6,482,837Expenses 2020: $5,782,722Net Income 2020: $700,1152020Revenue 2021: $4,018,411Expenses 2021: $3,492,222Net Income 2021: $526,1892021Revenue 2022: $8,800,784Expenses 2022: $6,702,244Net Income 2022: $2,098,5402022Revenue 2023: $15,205,201Expenses 2023: $13,705,832Net Income 2023: $1,499,3692023Revenue 2024: $17,403,290Expenses 2024: $18,660,011Net Income 2024: -$1,256,7212024

Highlighted filing

2018

Revenue$6,404,793
Expenses$6,402,625
Net Income$2,168
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 26, 2019
Return Version
2017v2.3
Gross Receipts
$6,405,979
Mission and Program Overview

Mission

To encourage, promote and stimulate convention, tourism and visitor industries.

To stimulate economic development by marketing albuquerque as adestination for meetings, conventions, sports and leisure travel.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$388,771$467,206▲ $78,435
Savings and Temporary Cash Investments$289,710$292,625▲ $2,915
Cash and Non-Interest-Bearing Accounts$372,258$263,769▼ $108,489
Prepaid Expenses and Deferred Charges$272,098$196,684▼ $75,414
Land, Buildings, and Equipment, Net$41,470$123,822▲ $82,352
Intangible Assets-$3,376-
Total Assets$1,383,482$1,368,457▼ $15,025
Other Assets Total$19,175$20,975▲ $1,800
Liabilities
Accounts Payable and Accrued Expenses$492,017$515,823▲ $23,806
Deferred Revenue$353,320$312,321▼ $40,999
Total Liabilities$845,337$828,144▼ $17,193
Net Assets / Fund Balance
Unrestricted Net Assets$538,145$540,313▲ $2,168
Total Net Assets Fund Balance$538,145$540,313▲ $2,168
Total Liabilities and Net Assets / Fund Balance$1,383,482$1,368,457▼ $15,025

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$119,340$1,466,463$1,585,803
Leasehold Improvements$4,482$45,105$49,587
Other Land Buildings$0$23,906$23,906
Compensation and Service Providers
Top Officer Pay21st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tania ArmentaPresident & CEOFT$142,122$12,454$154,576
Valerie LindVP Finance & AdminFT$108,726$8,951$117,677

Board Members and Trustees

NameTitle
Cynthia StanleyBoard Chair
James GayChair-elect
Damen KompanowskiImmediate Past Chair
Bob MurphyDirector
Cainan HarrisDirector
Debi OwenDirector
Heather ArnoldDirector
Justin TelfordDirector
Laura KesselmanDirector
Michael CanfieldDirector
Rebecca PlutinoDirector
Steve GrantDirector
Richard HolcombSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Mckee Wallwork ClevelandAdvertising1030 18TH STREET NW, Albuquerque, NM 87104$925,976
Miles MediaWeb Development, Marketing & HostingPO BOX 116755, Atlanta, GA 30368$178,575
SimpleviewWebsite Hosting & SupportN LA CHOLLA BLVD 100, Tuscon, AZ 85741$124,066
Revenue and Support

Revenue Composition

Contributions and Grants
$5,597,005
Program Service Revenue
$806,064
Investment Income
$1,724
Other Revenue
$0
Change in Net Assets
$2,168

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,404,793
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$76,117
Total Revenue per Audited Statements
$6,480,910
Total Revenue per Form 990
$6,404,793
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,822,769
Salaries, Compensation, and Employee Benefits$2,579,856
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$1,894,123
Advertising---$1,373,920
Current Officers, Directors, Trustees, and Key Employees---$272,253
Occupancy---$271,152
Other Employee Benefits---$180,289
Payroll Taxes---$162,660
Office Expenses---$139,321
Information Technology---$123,010
Travel---$114,793
Fees for Services Other---$97,327
Pension Plan Contributions---$70,531
Other Expenses---$48,600
All Other Expenses---$45,379
Depreciation Depletion---$43,571
Insurance---$31,763
Fees for Services Accounting---$19,450
Conferences and Meetings---$15,876
Fees for Services Legal---$8,373
Total Functional Expenses$0$0$0$6,402,625

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,478,742
Expenses per Audited Statements$6,402,625
Total Expenses per Form 990$6,402,625
Expenses Not Reported on Form 990$76,117
Expenses Not Reported on Financial Statements$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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 2

“Board directors are engaged in businesses related to and compatible with the hospitality industry. As such they are frequently in the position to procure goods and services from each other in the daily operation of their businesses.”

Form 990, Part VI, Section A, Line 6

“As a 501(c)(6) trade association, visit abq is comprised of members. Members may be any person, firm or corporation interested in promoting and stimulating the convention, sports and visitor industry in albuquerque and new mexico are eligible for membership.”

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

“Pursuant to visit abq's bylaws, voting directors of the board are elected by and from the membership. Among the elected directors, six (6) represent hotel ownership and/or operating interests, four (4) represent non-lodging interests in the hospitality industry, two (2) represent general business industries, and one (1) non-lodging interest member of the lodgers' tax advisory board. In addition to the directors elected by the members, certain directors serve as ex-officio directors by appointment from various entities, including the following: two (2) albuquerque city council members or representatives, the mayor or mayoral representative, the manager of the albuquerque convention center or representative, the president & ceo of visit albuquerque”

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

“The form 990 was provided to the audit/finance committee of the board of directors for its review. The audit/finance committee reported to the board of directors that they had reviewed the form 990. This is a standing committee responsible for oversight of audit and fiscal activities of the organization.”

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

“Visit abq's by-laws include a conflict of interest statement. In addition, a conflict of interest policy is in place which includes a requirement of recusal from discussion and voting if a matter before the board has potentially significant impact on a director's business operations. This policy is reviewed regualarly and is a part of a formal board orientation process for new members.”

Form 990, Part VI, Section B, Line 15

“The president & ceo's compensation is reviewed by the board's compensation committee and the salary is approved by the committee - indicated by signature of the board chair on internal payroll forms. Industry guidelines are regularly published based on compensation and benefit surveys indicating average salary and benefits for president/ceo's (and other staff) based on numerous variables including type of entity, size of budget, size of staff, etc. These surveys as well as surveys conducted in the local market place which includes information from government, nonprofit and industry businesses are reviewed and considered by the compensation committee when setting the president & ceo's compensation. Average percent of salary increase available to staff based on merit is also a factor in determining annual raises. This process was last completed in fy 2017. The other officers or key employees are reviewed by their designated manager and the proposed salaries are approved by the president & ceo - indicated by a signature on internal payroll forms. Industry guidelines are regularly published based on compensation and benefit surveys indicating average salary and benefits for staff based on numerous variables including type of entity, size of budget, size of staff, etc. These surveys as well as surveys conducted in the local market place which include information from government. Nonprofit and industry businesses are reviewed and considered by the manager(s) and president & ceo when setting the compensation. This process was last completed in fy 2017.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available for public inspection by request. The vp of finance & administration maintains these documents, reviews and responds to requests. In addition, the audited financial statements are posted on organization's website.”

Filing and Contact Details

Filer

Filer Name
Albuquerque Convention & Visitors Bureau
EIN
85-0285280
Phone
5058429918
Address
20 FIRST PLAZA NO 601, ALBUQUERQUE, NM 87102
Doing Business As
Visit Albuquerque

Signing Officer

Name
Tania Armenta
Title
President & CEO
Phone
5058429918
Signed
2019-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tania Armenta
Formed
1980
Legal Domicile
Nm
Voting Board Members
13
Independent Board Members
13
Employees
43
Volunteers
85

Preparer

Firm
Atkinson & Co Ltd
Address
PO BOX 25246, ALBUQUERQUE, NM 87125
Preparer
Stephanie J Catasca CPA
Phone
5058436492
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The audit and finance committee assumes responsibility for oversight of the audit of its finanical statements and selection of an independent accountant. This process has not changed from the previous year.”

Financial Statement Notes

PART X, LINE 2:

“Visit abq is a not-for-profit corporation and qualifies as a tax-exempt organization under section 501(c)(6) of the internal revenue code (irc) and is classified as other than a private foundation. As such, its normal activities do not result in any income tax liability. However, income from certain activities not directly related to visit abq's tax-exempt purpose is subject to taxation as unrelated business income. The income that creates unrelated business income is advertising revenue that visit abq receives. This income is typically offset by allowable deductible costs on an annual basis. As a result, visit abq has a $141,460 net operating loss carryforward that expires in varying dates through 2036 that can be utilized to offset future taxable income. As visit abq has a history of taxable losses related to its unrelated business income, it is uncertain as to whether the net operating loss carryforwards will be utilized; therefore, no deferred tax asset has been recognized in these accompanying financial statements. As of june 30, 2018, visit abq performed a comprehensive review of its material tax positions in accordance with recognition and measurement standards established by generally accepted accounting principles. As a result of management's review, visit abq qualified as a tax-exempt organization under section 501(c)(6) of the irc and had no unreported income derived from unrelated business activities and did not identify any entity level tax positions that would be considered uncertain tax positions. Visit abq files informational tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, visit abq is subject to examination by federal, state, local, and foreign jurisdictions, where applicable. Under the statute of limitations, the entity's tax returns are no longer subject to examination by tax authorities for fiscal years prior to 2015. Visit abq would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. There were no such interest or penalties recorded for the years ended june 30, 2018 and 2017.”

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IRS990/Form990PartVIISectionAGrp/PersonNm14VALERIE LIND
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13142122
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14108726
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR-ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt2IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY/TREASURER
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/TitleTxt13PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP FINANCE & ADMIN
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01980
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt0-1186
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt013
IRS990/GovernmentGrantsAmt05597005
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt06405979
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt013
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0123010
IRS990/InsuranceGrp/TotalAmt031763
IRS990/IntangibleAssetsGrp/EOYAmt03376
IRS990/InvestmentIncomeGrp/ExclusionAmt02910
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02910
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt043
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01535474
IRS990/LandBldgEquipBasisNetGrp/BOYAmt041470
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0123822
IRS990/LandBldgEquipCostOrOtherBssAmt01659296
IRS990/LegalDomicileStateCd0NM
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt01186
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO STIMULATE ECONOMIC DEVELOPMENT BY MARKETING ALBUQUERQUE AS ADESTINATION FOR MEETINGS, CONVENTIONS, SPORTS, AND LEISURE TRAVEL.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0538145
IRS990/NetAssetsOrFundBalancesEOYAmt0540313
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-1186
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-1186
IRS990/NetUnrelatedBusTxblIncmAmt0-15532
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0271152
IRS990/OfficeExpensesGrp/TotalAmt0139321
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt019175
IRS990/OtherAssetsTotalGrp/EOYAmt020975
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0180289
IRS990/OtherExpensesGrp/Desc0MARKETING
IRS990/OtherExpensesGrp/Desc1DONATED GOODS
IRS990/OtherExpensesGrp/Desc2TRAINING AND EDUCATION
IRS990/OtherExpensesGrp/Desc3BAD DEBT PROVISION
IRS990/OtherExpensesGrp/TotalAmt01236521
IRS990/OtherExpensesGrp/TotalAmt1162535
IRS990/OtherExpensesGrp/TotalAmt291178
IRS990/OtherExpensesGrp/TotalAmt348600
IRS990/OtherSalariesAndWagesGrp/TotalAmt01894123
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0162660
IRS990/PensionPlanContributionsGrp/TotalAmt070531
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0272098
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0196684
IRS990/PrincipalOfficerNm0TANIA ARMENTA
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2541800
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/BusinessCd4900099
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP FEES
IRS990/ProgramServiceRevenueGrp/Desc1IN-KIND PROGRAM REVENU
IRS990/ProgramServiceRevenueGrp/Desc2ADVERTISING
IRS990/ProgramServiceRevenueGrp/Desc3EVENT HOSTING/PART.
IRS990/ProgramServiceRevenueGrp/Desc4PROMOTIONAL PARTICIPAT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0342702
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1162535
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt294241
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt387618
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0342702
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1162535
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2118965
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt394241
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt487618
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt0118965
IRS990/ProgSrvcAccomActy2Grp/Desc0TOURISM, COMMUNICATIONS AND VISITOR SERVICES:PRIMARY DIRECTIVE TO INCREASE TOURISM AND VISITORS TO ALBUQUERQUE. INCLUDES SUPPORTING VISITOR QUESTIONS/INQUIRIES AND FULFILLMENT OF VISITOR GUIDES. ARRANGES MEDIA FAMILIARIZATION TOURS, SITE VISITS AND INFORMATION KITS TO, AGAIN, SELL AND MARKET ALBUQUERQUE AS A DESTINATION.
IRS990/ProgSrvcAccomActy3Grp/Desc0MEMBERSHIP AND DEVELOPMENT DIVISION:SELLS MEMBERSHIPS TO PARTNERS (ALBUQUERQUE BUSINESSES) TOWARD GROWTH/MARKETING OF ALBUQUERQUE AND THE SERVICES/GOODS THE CITY OFFERS. VISIT ABQ INCLUDES MARKETING OF THESE BUSINESSES IN OUR VISITOR GUIDE AND ONLINE, AS WELL AS OTHER MEDIA.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt05697000
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0928
IRS990/PYOtherExpensesAmt03931002
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0694251
IRS990/PYRevenuesLessExpensesAmt08086
IRS990/PYSalariesCompEmpBnftPaidAmt02453091
IRS990/PYTotalExpensesAmt06384093
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt06392179
IRS990/ReconcilationRevenueExpnssAmt02168
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0289710
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0292625
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt076117
IRS990ScheduleD/DonatedServicesUseFcltsAmt076117
IRS990ScheduleD/EquipmentGrp/BookValueAmt0119340
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01466463
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01585803
IRS990ScheduleD/ExpensesNotReportedAmt076117
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt06402625
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt04482
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt045105
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt049587
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt023906
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt023906
IRS990ScheduleD/RevenueNotReportedAmt076117
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt06404793
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0VISIT ABQ IS A NOT-FOR-PROFIT CORPORATION AND QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE (IRC) AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. AS SUCH, ITS NORMAL ACTIVITIES DO NOT RESULT IN ANY INCOME TAX LIABILITY. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO VISIT ABQ'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE INCOME THAT CREATES UNRELATED BUSINESS INCOME IS ADVERTISING REVENUE THAT VISIT ABQ RECEIVES. THIS INCOME IS TYPICALLY OFFSET BY ALLOWABLE DEDUCTIBLE COSTS ON AN ANNUAL BASIS. AS A RESULT, VISIT ABQ HAS A $141,460 NET OPERATING LOSS CARRYFORWARD THAT EXPIRES IN VARYING DATES THROUGH 2036 THAT CAN BE UTILIZED TO OFFSET FUTURE TAXABLE INCOME. AS VISIT ABQ HAS A HISTORY OF TAXABLE LOSSES RELATED TO ITS UNRELATED BUSINESS INCOME, IT IS UNCERTAIN AS TO WHETHER THE NET OPERATING LOSS CARRYFORWARDS WILL BE UTILIZED; THEREFORE, NO DEFERRED TAX ASSET HAS BEEN RECOGNIZED IN THESE ACCOMPANYING FINANCIAL STATEMENTS. AS OF JUNE 30, 2018, VISIT ABQ PERFORMED A COMPREHENSIVE REVIEW OF ITS MATERIAL TAX POSITIONS IN ACCORDANCE WITH RECOGNITION AND MEASUREMENT STANDARDS ESTABLISHED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. AS A RESULT OF MANAGEMENT'S REVIEW, VISIT ABQ QUALIFIED AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(6) OF THE IRC AND HAD NO UNREPORTED INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES AND DID NOT IDENTIFY ANY ENTITY LEVEL TAX POSITIONS THAT WOULD BE CONSIDERED UNCERTAIN TAX POSITIONS. VISIT ABQ FILES INFORMATIONAL TAX RETURNS AS PRESCRIBED BY THE TAX LAWS OF THE JURISDICTIONS IN WHICH IT OPERATES. IN THE NORMAL COURSE OF BUSINESS, VISIT ABQ IS SUBJECT TO EXAMINATION BY FEDERAL, STATE, LOCAL, AND FOREIGN JURISDICTIONS, WHERE APPLICABLE. UNDER THE STATUTE OF LIMITATIONS, THE ENTITY'S TAX RETURNS ARE NO LONGER SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR FISCAL YEARS PRIOR TO 2015. VISIT ABQ WOULD RECOGNIZE INTEREST ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. THERE WERE NO SUCH INTEREST OR PENALTIES RECORDED FOR THE YEARS ENDED JUNE 30, 2018 AND 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0123822
IRS990ScheduleD/TotalExpensesPerForm990Amt06402625
IRS990ScheduleD/TotalRevenuePerForm990Amt06404793
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06480910
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06478742
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0142122
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt04321
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt08133
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0TANIA ARMENTA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0154576
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD DIRECTORS ARE ENGAGED IN BUSINESSES RELATED TO AND COMPATIBLE WITH THE HOSPITALITY INDUSTRY. AS SUCH THEY ARE FREQUENTLY IN THE POSITION TO PROCURE GOODS AND SERVICES FROM EACH OTHER IN THE DAILY OPERATION OF THEIR BUSINESSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AS A 501(C)(6) TRADE ASSOCIATION, VISIT ABQ IS COMPRISED OF MEMBERS. MEMBERS MAY BE ANY PERSON, FIRM OR CORPORATION INTERESTED IN PROMOTING AND STIMULATING THE CONVENTION, SPORTS AND VISITOR INDUSTRY IN ALBUQUERQUE AND NEW MEXICO ARE ELIGIBLE FOR MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PURSUANT TO VISIT ABQ'S BYLAWS, VOTING DIRECTORS OF THE BOARD ARE ELECTED BY AND FROM THE MEMBERSHIP. AMONG THE ELECTED DIRECTORS, SIX (6) REPRESENT HOTEL OWNERSHIP AND/OR OPERATING INTERESTS, FOUR (4) REPRESENT NON-LODGING INTERESTS IN THE HOSPITALITY INDUSTRY, TWO (2) REPRESENT GENERAL BUSINESS INDUSTRIES, AND ONE (1) NON-LODGING INTEREST MEMBER OF THE LODGERS' TAX ADVISORY BOARD. IN ADDITION TO THE DIRECTORS ELECTED BY THE MEMBERS, CERTAIN DIRECTORS SERVE AS EX-OFFICIO DIRECTORS BY APPOINTMENT FROM VARIOUS ENTITIES, INCLUDING THE FOLLOWING: TWO (2) ALBUQUERQUE CITY COUNCIL MEMBERS OR REPRESENTATIVES, THE MAYOR OR MAYORAL REPRESENTATIVE, THE MANAGER OF THE ALBUQUERQUE CONVENTION CENTER OR REPRESENTATIVE, THE PRESIDENT & CEO OF VISIT ALBUQUERQUE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 WAS PROVIDED TO THE AUDIT/FINANCE COMMITTEE OF THE BOARD OF DIRECTORS FOR ITS REVIEW. THE AUDIT/FINANCE COMMITTEE REPORTED TO THE BOARD OF DIRECTORS THAT THEY HAD REVIEWED THE FORM 990. THIS IS A STANDING COMMITTEE RESPONSIBLE FOR OVERSIGHT OF AUDIT AND FISCAL ACTIVITIES OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4VISIT ABQ'S BY-LAWS INCLUDE A CONFLICT OF INTEREST STATEMENT. IN ADDITION, A CONFLICT OF INTEREST POLICY IS IN PLACE WHICH INCLUDES A REQUIREMENT OF RECUSAL FROM DISCUSSION AND VOTING IF A MATTER BEFORE THE BOARD HAS POTENTIALLY SIGNIFICANT IMPACT ON A DIRECTOR'S BUSINESS OPERATIONS. THIS POLICY IS REVIEWED REGUALARLY AND IS A PART OF A FORMAL BOARD ORIENTATION PROCESS FOR NEW MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PRESIDENT & CEO'S COMPENSATION IS REVIEWED BY THE BOARD'S COMPENSATION COMMITTEE AND THE SALARY IS APPROVED BY THE COMMITTEE - INDICATED BY SIGNATURE OF THE BOARD CHAIR ON INTERNAL PAYROLL FORMS. INDUSTRY GUIDELINES ARE REGULARLY PUBLISHED BASED ON COMPENSATION AND BENEFIT SURVEYS INDICATING AVERAGE SALARY AND BENEFITS FOR PRESIDENT/CEO'S (AND OTHER STAFF) BASED ON NUMEROUS VARIABLES INCLUDING TYPE OF ENTITY, SIZE OF BUDGET, SIZE OF STAFF, ETC. THESE SURVEYS AS WELL AS SURVEYS CONDUCTED IN THE LOCAL MARKET PLACE WHICH INCLUDES INFORMATION FROM GOVERNMENT, NONPROFIT AND INDUSTRY BUSINESSES ARE REVIEWED AND CONSIDERED BY THE COMPENSATION COMMITTEE WHEN SETTING THE PRESIDENT & CEO'S COMPENSATION. AVERAGE PERCENT OF SALARY INCREASE AVAILABLE TO STAFF BASED ON MERIT IS ALSO A FACTOR IN DETERMINING ANNUAL RAISES. THIS PROCESS WAS LAST COMPLETED IN FY 2017. THE OTHER OFFICERS OR KEY EMPLOYEES ARE REVIEWED BY THEIR DESIGNATED MANAGER AND THE PROPOSED SALARIES ARE APPROVED BY THE PRESIDENT & CEO - INDICATED BY A SIGNATURE ON INTERNAL PAYROLL FORMS. INDUSTRY GUIDELINES ARE REGULARLY PUBLISHED BASED ON COMPENSATION AND BENEFIT SURVEYS INDICATING AVERAGE SALARY AND BENEFITS FOR STAFF BASED ON NUMEROUS VARIABLES INCLUDING TYPE OF ENTITY, SIZE OF BUDGET, SIZE OF STAFF, ETC. THESE SURVEYS AS WELL AS SURVEYS CONDUCTED IN THE LOCAL MARKET PLACE WHICH INCLUDE INFORMATION FROM GOVERNMENT. NONPROFIT AND INDUSTRY BUSINESSES ARE REVIEWED AND CONSIDERED BY THE MANAGER(S) AND PRESIDENT & CEO WHEN SETTING THE COMPENSATION. THIS PROCESS WAS LAST COMPLETED IN FY 2017.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION BY REQUEST. THE VP OF FINANCE & ADMINISTRATION MAINTAINS THESE DOCUMENTS, REVIEWS AND RESPONDS TO REQUESTS. IN ADDITION, THE AUDITED FINANCIAL STATEMENTS ARE POSTED ON ORGANIZATION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE AUDIT AND FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANICAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,368,457
Liabilities
$828,144
Net assets
$540,313
Revenue
$6,404,793
Expenses
$6,402,625
Net income
$2,168
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.52$2.40$4.12$17.4$18.7$1.26
2023Summary only. Only limited summary data is available for this year.$7.68$2.31$5.37$15.2$13.7$1.50
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.92$1.04$3.87$8.80$6.70$2.10
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.03$1.25$1.77$4.02$3.49$0.53
2020Summary only. Only limited summary data is available for this year.$2.21$0.96$1.25$6.48$5.78$0.70
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.79$1.24$0.55$6.57$6.56$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.37$0.83$0.54$6.40$6.40$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.38$0.85$0.54$6.39$6.38$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.28$0.75$0.53$5.97$5.96$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.47$0.96$0.52$6.17$6.15$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.37$0.87$0.50$6.54$7.15$0.62
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.80$0.69$1.11$6.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.19$0.56$1.63$6.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.96$0.49$1.47$5.75
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