Civic Intelligence

Albuquerque Convention & Visitors Bureau Inc

990 • Fiscal year 2022 • EIN 85-0285280

Jul 01, 2021 to Jun 30, 2022 • Filed on May 09, 2023

Organization ProfileWWW.VISITALBUQUERQUE.ORG

View Organization Page

20 First Plaza NW 601Albuquerque, NM 87102

(505) 842-9918

Siviq Scores

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

Liabilities / Assets

49th percentile

0.21x

Higher debt load relative to assets than 49% of similar nonprofits.

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

Liabilities / Revenue

24th percentile

0.12x

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

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

Net Margin

86th percentile

24%

Higher net margin than 86% of similar nonprofits.

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

Top Officer Pay

25th percentile

$161,352

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

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

Asset Growth

94th percentile

62%

Faster asset growth than 94% of similar nonprofits.

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

Revenue Growth

95th percentile

119%

Faster revenue growth than 95% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$4,916,660

Up $1,888,151 (+62%) from 2021

Net Assets

Up

$3,872,675

Up $2,098,540 (+118%) from 2021

Liabilities

Down

$1,043,985

Down $210,389 (-17%) from 2021

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin86th percentile

Revenue

Up

$8,800,784

Up $4,782,373 (+119%) from 2021

Expenses

Up

$6,702,244

Up $3,210,022 (+92%) from 2021

Net Income

Up

$2,098,540

Up $1,572,351 (+299%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth94th 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

2022

Assets$4,916,660
Liabilities$1,043,985
Net Assets$3,872,675
Open 2022 Filing

Operations Trend

Revenue Growth95th 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

2022

Revenue$8,800,784
Expenses$6,702,244
Net Income$2,098,540
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 9, 2023
Return Version
2021v4.2
Gross Receipts
$8,800,784
Mission and Program Overview

Mission

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

As the premier destination marketing organization for the city, visit albuquerque is responsible for promoting albuquerque as a competitive and world-class leisure, meeting, convention and sports destination, and enhancing its public image as a dynamic place to live and work. Through the impact of travel, visit albuquerque strengthens the city's economic position and provides opportunity for people in the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,880,489$3,821,322▲ $1,940,833
Prepaid Expenses and Deferred Charges$148,427$534,848▲ $386,421
Savings and Temporary Cash Investments$748,117$299,693▼ $448,424
Accounts Receivable$134,863$172,865▲ $38,002
Land, Buildings, and Equipment, Net$90,239$79,037▼ $11,202
Intangible Assets$7,736$7,095▼ $641
Total Assets$3,028,509$4,916,660▲ $1,888,151
Other Assets Total$18,638$1,800▼ $16,838
Liabilities
Deferred Revenue$782,793$716,842▼ $65,951
Accounts Payable and Accrued Expenses$321,581$327,143▲ $5,562
Unsecured Notes Loans Payable$150,000--
Total Liabilities$1,254,374$1,043,985▼ $210,389
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,774,135$3,872,675▲ $2,098,540
Total Net Assets Fund Balance$1,774,135$3,872,675▲ $2,098,540
Total Liabilities and Net Assets / Fund Balance$3,028,509$4,916,660▲ $1,888,151

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$76,839$1,644,081$1,720,920
Leasehold Improvements$2,198$52,664$54,862
Other Land Buildings$0$23,906$23,906
Compensation and Service Providers
Top Officer Pay25th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tania ArmentaPresident & CEOFT$154,405$6,947$161,352
Ceela McelvenyVice PresidentFT$115,100$7,772$122,872
Kristin McgrathVP Convention Sales, ServiFT$111,333$6,231$117,564

Board Members and Trustees

NameTitle
Heather ArnoldBoard Chair
Deepesh KholwadwalaChair-elect
Cainan HarrisImmediate Past Chair
William SchudlichVice President (began 05/22)
Christine PauleyDirector
Damen KompanowskiDirector
James GayDirector
Karl HolmeDirector
Leah BlackDirector
Scott CapeDirector
Steve GrantDirector
Tom GarrityDirector
William R StaffordDirector
Michael CanfieldSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Mckee Wallwork CoAdvertising701 SPUR ST NE SUITE B, Albuquerque, NM 87102$559,259
Miles Partnership LllpWeb Development, Marketing & HostingPO BOX 54133, New Orleans, LA 70154$164,507
Revenue and Support

Revenue Composition

Contributions and Grants
$8,019,251
Program Service Revenue
$781,169
Investment Income
$364
Other Revenue
$0
Change in Net Assets
$2,098,540

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,800,784
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$26,354
Total Revenue per Audited Statements
$8,827,138
Total Revenue per Form 990
$8,800,784
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,696,801
Salaries, Compensation, and Employee Benefits$2,005,443
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising---$2,833,439
Other Salaries and Wages---$1,380,491
Current Officers, Directors, Trustees, and Key Employees---$284,224
Other Employee Benefits---$178,559
Information Technology---$168,885
Conferences and Meetings---$153,921
Occupancy---$140,095
Fees for Services Other---$139,784
Payroll Taxes---$120,692
Office Expenses---$106,552
Travel---$70,074
Other Expenses---$65,296
Depreciation Depletion---$42,204
Pension Plan Contributions---$41,477
All Other Expenses---$31,392
Insurance---$31,017
Fees for Services Accounting---$19,256
Interest---$7,244
Fees for Services Legal---$4,755
Total Functional Expenses$0$0$0$6,702,244

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,728,598
Expenses per Audited Statements$6,702,244
Total Expenses per Form 990$6,702,244
Expenses Not Reported on Form 990$26,354
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
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 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 and 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

“In addition to the board policy to disclose conflicts of interest annually, visit abq's by-laws include a conflict of interest statement. Also, 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 at least annually 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 2018. 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 2018.”

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 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 NW 601, ALBUQUERQUE, NM 87102
Doing Business As
Visit Albuquerque

Signing Officer

Name
Tania Armenta
Title
President & CEO
Phone
5058429918
Signed
2023-05-09
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
25
Volunteers
54

Preparer

Firm
Cliftonlarsonallen Llp
Address
6501 AMERICAS PARKWAY NE SUITE 500, ALBUQUERQUE, NM 87110
Preparer
Jessica Locker CPA
Phone
5058428290
Supplemental Narrative

Additional Explanations

Part 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 nonprofit 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 an approximately $186,000 net operating loss carryforward 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, 2022, 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 and in their opinion, visit abq continues to be 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 2019. Visit abq would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. No such interest or penalties were recorded for the years ended june 30, 2022 and 2021.”

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IRS990/Form990PartVIISectionAGrp/PersonNm2DAMEN KOMPANOWSKI
IRS990/Form990PartVIISectionAGrp/PersonNm3HEATHER ARNOLD
IRS990/Form990PartVIISectionAGrp/PersonNm4MICHAEL CANFIELD
IRS990/Form990PartVIISectionAGrp/PersonNm5STEVE GRANT
IRS990/Form990PartVIISectionAGrp/PersonNm6KARL HOLME
IRS990/Form990PartVIISectionAGrp/PersonNm7LEAH BLACK
IRS990/Form990PartVIISectionAGrp/PersonNm8TOM GARRITY
IRS990/Form990PartVIISectionAGrp/PersonNm9DEEPESH KHOLWADWALA
IRS990/Form990PartVIISectionAGrp/PersonNm10CHRISTINE PAULEY
IRS990/Form990PartVIISectionAGrp/PersonNm11WILLIAM R STAFFORD
IRS990/Form990PartVIISectionAGrp/PersonNm12SCOTT CAPE
IRS990/Form990PartVIISectionAGrp/PersonNm13TANIA ARMENTA
IRS990/Form990PartVIISectionAGrp/PersonNm14CEELA MCELVENY
IRS990/Form990PartVIISectionAGrp/PersonNm15WILLIAM SCHUDLICH
IRS990/Form990PartVIISectionAGrp/PersonNm16KRISTIN MCGRATH
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/ReportableCompFromOrgAmt13154405
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt14115100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt16111333
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/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9CHAIR-ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt14VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE PRESIDENT (BEGAN 05/22)
IRS990/Form990PartVIISectionAGrp/TitleTxt16VP CONVENTION SALES, SERVI
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01980
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt013
IRS990/GovernmentGrantsAmt08019251
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt08800784
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt013
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/TotalAmt0168885
IRS990/InsuranceGrp/TotalAmt031017
IRS990/IntangibleAssetsGrp/BOYAmt07736
IRS990/IntangibleAssetsGrp/EOYAmt07095
IRS990/InterestGrp/TotalAmt07244
IRS990/InvestmentIncomeGrp/ExclusionAmt0364
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0364
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt022
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt01720651
IRS990/LandBldgEquipBasisNetGrp/BOYAmt090239
IRS990/LandBldgEquipBasisNetGrp/EOYAmt079037
IRS990/LandBldgEquipCostOrOtherBssAmt01799688
IRS990/LegalDomicileStateCd0NM
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0AS THE PREMIER DESTINATION MARKETING ORGANIZATION FOR THE CITY, VISIT ALBUQUERQUE IS RESPONSIBLE FOR PROMOTING ALBUQUERQUE AS A COMPETITIVE AND WORLD-CLASS LEISURE, MEETING, CONVENTION AND SPORTS DESTINATION, AND ENHANCING ITS PUBLIC IMAGE AS A DYNAMIC PLACE TO LIVE AND WORK. THROUGH THE IMPACT OF TRAVEL, VISIT ALBUQUERQUE STRENGTHENS THE CITY'S ECONOMIC POSITION AND PROVIDES OPPORTUNITY FOR PEOPLE IN THE COMMUNITY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01774135
IRS990/NetAssetsOrFundBalancesEOYAmt03872675
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01774135
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt03872675
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt0140095
IRS990/OfficeExpensesGrp/TotalAmt0106552
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt018638
IRS990/OtherAssetsTotalGrp/EOYAmt01800
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0178559
IRS990/OtherExpensesGrp/Desc0MARKETING
IRS990/OtherExpensesGrp/Desc1DONATED GOODS
IRS990/OtherExpensesGrp/Desc2BAD DEBT PROVISION
IRS990/OtherExpensesGrp/Desc3TRAINING & EDUCATION
IRS990/OtherExpensesGrp/TotalAmt0746379
IRS990/OtherExpensesGrp/TotalAmt170499
IRS990/OtherExpensesGrp/TotalAmt266009
IRS990/OtherExpensesGrp/TotalAmt365296
IRS990/OtherSalariesAndWagesGrp/TotalAmt01380491
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0120692
IRS990/PensionPlanContributionsGrp/TotalAmt041477
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0148427
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0534848
IRS990/PrincipalOfficerNm0TANIA ARMENTA
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3541800
IRS990/ProgramServiceRevenueGrp/BusinessCd4900099
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP FEES
IRS990/ProgramServiceRevenueGrp/Desc1OTHER
IRS990/ProgramServiceRevenueGrp/Desc2PROMOTIONAL PARTICIPAT
IRS990/ProgramServiceRevenueGrp/Desc3ADVERTISING
IRS990/ProgramServiceRevenueGrp/Desc4IN-KIND PROGRAM REVENU
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0279793
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1181940
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2126293
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt370499
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0279793
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1181940
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2126293
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt383076
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt470499
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt083076
IRS990/ProgSrvcAccomActy2Grp/Desc0TOURISM, COMMUNICATIONS AND VISITOR SERVICES:PRIMARY DIRECTIVE IS TO INCREASE TOURISM AND VISITATION TO ALBUQUERQUE. CONDUCTS ADVERTISING, MARKETING, PUBLIC RELATIONS, MEDIA RELATIONS, AND SOCIAL MEDIA CAMPAIGNS TO PROMOTE ALBUQUERQUE AS A DESTINATION. INCLUDES SUPPORTING VISITOR QUESTIONS/INQUIRIES, OPERATING VISITOR INFORMATION CENTERS AND FULFILLMENT OF VISITOR GUIDES.
IRS990/ProgSrvcAccomActy3Grp/Desc0MEMBERSHIP AND DEVELOPMENT DIVISION:SELLS MEMBERSHIPS (PARTNERSHIPS) AND PROVIDES BENEFITS TO PARTNERS (ALBUQUERQUE BUSINESSES) TOWARD GROWTH/MARKETING OF ALBUQUERQUE AND THE SERVICES/GOODS THE CITY OFFERS. VISIT ABQ PROMOTES THESE BUSINESSES IN OUR VISITOR GUIDE AND ONLINE, AS WELL AS IN OTHER MEDIA.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt03703552
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01230
IRS990/PYOtherExpensesAmt01707848
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0313629
IRS990/PYRevenuesLessExpensesAmt0526189
IRS990/PYSalariesCompEmpBnftPaidAmt01784374
IRS990/PYTotalExpensesAmt03492222
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04018411
IRS990/ReconcilationRevenueExpnssAmt02098540
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0748117
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0299693
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt026354
IRS990ScheduleD/DonatedServicesUseFcltsAmt026354
IRS990ScheduleD/EquipmentGrp/BookValueAmt076839
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01644081
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01720920
IRS990ScheduleD/ExpensesNotReportedAmt026354
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt06702244
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02198
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt052664
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt054862
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt023906
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt023906
IRS990ScheduleD/RevenueNotReportedAmt026354
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt08800784
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0VISIT ABQ IS A NONPROFIT 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 AN APPROXIMATELY $186,000 NET OPERATING LOSS CARRYFORWARD 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, 2022, 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 AND IN THEIR OPINION, VISIT ABQ CONTINUES TO BE 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 2019. VISIT ABQ WOULD RECOGNIZE INTEREST ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. NO SUCH INTEREST OR PENALTIES WERE RECORDED FOR THE YEARS ENDED JUNE 30, 2022 AND 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt079037
IRS990ScheduleD/TotalExpensesPerForm990Amt06702244
IRS990ScheduleD/TotalRevenuePerForm990Amt08800784
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08827138
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06728598
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0154405
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt06947
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0TANIA ARMENTA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0161352
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
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 AND 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/ExplanationTxt4IN ADDITION TO THE BOARD POLICY TO DISCLOSE CONFLICTS OF INTEREST ANNUALLY, VISIT ABQ'S BY-LAWS INCLUDE A CONFLICT OF INTEREST STATEMENT. ALSO, 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 AT LEAST ANNUALLY AND IS A PART OF A FORMAL BOARD ORIENTATION PROCESS FOR NEW MEMBERS.

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,916,660
Liabilities
$1,043,985
Net assets
$3,872,675
Revenue
$8,800,784
Expenses
$6,702,244
Net income
$2,098,540
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
2022Detailed filing. Detailed filing data is available for this year.$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
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)6 • $5M-$10M nonprofits