Form 990 for tax year 2023

Totals

Total revenue

$23,404,663

Total expenses

$21,201,108

Contributions and grants received

$13,708,550

Grants paid

$0

Program service revenue

$8,866,434

Investment income

$774,649

Other revenue

$55,030

Total assets, end of year

$25,481,525

Total liabilities, end of year

$7,490,545

Net assets or fund balances, end of year

$17,990,980

Program services expenses (Part IX)

$18,872,583

Management and general expenses

$2,328,525

Fundraising expenses

$0

Program service expenses (Part III)

$18,872,583

Program services were 89.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Mission and programs · 2023

• CONVENTION SALES THE PHLCVB'S CONVENTION SALES PROGRAM IS CHARGED WITH HELPING TO DRIVE OVERNIGHT VISITATION BY BOOKING AND SERVICING MEETINGS, CONVENTIONS, TRADE SHOWS, AND SPORTING EVENTS INTO THE PENNSYLVANIA CONVENTION CENTER, PARTNER HOTELS, AND VENUES AROUND THE CITY. THIS ACTIVITY IS CRITICAL TO THE SUCCESS OF PHILADELPHIA'S TOURISM INDUSTRY, AS MEETINGS AND CONVENTIONS ARE LONGER-TERM PIECES OF BUSINESS THAT PROVIDE A STRONG FOUNDATION FOR PHILADELPHIA'S ECONOMY AND PROVIDE SECURITY FOR PHILADELPHIA'S HOSPITALITY-RELATED JOBS. THE CONVENTION SALES FUNCTION ALSO INCLUDES THREE KEY VERTICALS - PHL DIVERSITY, PHL LIFE SCIENCES, AND PHL SPORTS. PHILADELPHIA'S HOSPITALITY INDUSTRY CONTINUED ITS RECOVERY FROM THE IMPACT OF COVID-19, WITH PERFORMANCE METRICS STEADILY IMPROVING ACROSS ALL CATEGORIES, TOTALING 264 EVENTS, INCLUDING 20 CITYWIDE EVENTS (OVER 2,000 ROOM NIGHTS ON PEAK), WITH 550,146 ATTENDEES, RESULTING IN 563,400 ROOM NIGHTS AND 380 MILLION IN ECONOMIC IMPACT. IN FISCAL YEAR 2024, THE PHLCVB SECURED 297 EVENTS FOR FUTURE YEARS, INCLUDING 15 CITYWIDE EVENTS, PROJECTED TO BRING AN ESTIMATED 374,379 ATTENDEES TO PHILADELPHIA, GENERATING AN ESTIMATED 511,768 TOTAL ROOM NIGHTS. PHL LIFE SCIENCES: PHL LIFE SCIENCES IS THE FIRST AND ONLY DIVISION OF A CVB IN THE COUNTRY FOCUSED ON LIFE SCIENCES MEETINGS. THE DIVISION WORKS TO PROVIDE ACCESS TO PHILADELPHIA'S SUBSTANTIAL HEALTHCARE AND HIGHER EDUCATION COMMUNITY OF ACADEMICS, MEDICAL AND NURSING LEADERS, HEALTHCARE EXPERTS, BIOTECHNOLOGY, PHARMACEUTICAL, AND RELATED VENTURE CAPITAL CONTACTS. DIVISION HIGHLIGHTS INCLUDE: -PHL LIFE SCIENCES HOSTED 58 EVENTS, WELCOMING 83,527 ATTENDEES, AND 142,831 ROOM NIGHTS. THE DIVISION BOOKED 69 CONVENTIONS FOR FUTURE YEARS WITH AN ESTIMATED 63,085 ATTENDEES AND 130,763 ROOM NIGHTS. -AMERICAN SOCIETY OF NEPHROLOGY'S ANNUAL KIDNEY WEEK FEATURED 12,000 PHYSICIANS, RESEARCHERS, AND CLINICAL INVESTIGATORS IN ATTENDANCE AT THE WORLD'S PREMIER NEPHROLOGY MEETING. THE PENNSYLVANIA CONVENTION CENTER FLOOR WAS FULL OF ACTIVITY WITH A DIVERSE GROUP OF INTERNATIONAL GUESTS REPRESENTING OVER 100 COUNTRIES. -THE AMERICAN COLLEGE OF EMERGENCY PHYSICIANS' 2023 SCIENTIFIC ASSEMBLY FEATURED OVER 6,000 ATTENDEES COMPRISED OF EMERGENCY PHYSICIANS, RESIDENTS, MEDICAL STUDENTS, AND HEALTHCARE PROFESSIONALS WHO ENGAGED IN EDUCATION SESSIONS, NETWORKING, LAB SESSIONS, AND MORE. PHL SPORTS: FOR MORE THAN 30 YEARS, PHL SPORTS HAS BROUGHT MAJOR SPORTING EVENTS AND CONVENTIONS TO PHILADELPHIA. PHL SPORTS ENGAGES A WIDE RANGE OF COMMUNITY PARTNERS TO PROMOTE AND POSITION PHILADELPHIA AS A TOP DESTINATION FOR MARQUEE SPORTING EVENTS. DIVISION HIGHLIGHTS INCLUDE: -PHL SPORTS BOOKED 39 SPORTING EVENTS FOR FUTURE YEARS WITH AN ESTIMATED 234,149 ATTENDEES AND 94,174 ROOM NIGHTS. -LINCOLN FINANCIAL FIELD HOSTED THE PREMIER LEAGUE SUMMER SERIES, THAT WELCOMED OVER 105,000 PASSIONATE PREMIER LEAGUE FANS OVER TWO DAYS IN JULY 2023. PHL DIVERSITY: THE PHLCVB WAS ONE OF THE FIRST CVBS IN THE U.S. TO ESTABLISH A DIVISION HIGHLIGHTING THE DESTINATION AS A DIVERSE, EQUITABLE, AND INCLUSIVE LOCATION FOR MEETINGS, EVENTS, CONVENTIONS, AND VISITORS. FOR MORE THAN 30 YEARS, PHL DIVERSITY HAS BEEN CONNECTING MEETING PLANNERS TO LOCAL DIVERSE BUSINESSES, SUPPLIERS AND COMMUNITY LEADERS WITH SHARED VALUES AND GOALS WHO CAN HELP FACILITATE COMMUNITY ENGAGEMENT PROGRAMS OR SERVE AS SPEAKERS AND EXPERTS. DIVISION HIGHLIGHTS INCLUDE: -PHL DIVERSITY HOSTED 20 EVENTS WITH 25,661 ATTENDEES AND 26,944 ROOM NIGHTS. THE DIVISION BOOKED 16 CONVENTIONS FOR FUTURE YEARS WITH AN ESTIMATED 50,005 ATTENDEES AND 34,505 ROOM NIGHTS. -THOUSANDS OF ALPHA KAPPA ALPHA SORORITY, INCORPORATED SORORS GATHERED IN PHILADELPHIA FOR THE 92ND NORTH ATLANTIC REGIONAL CONFERENCE. -THE NATIONAL BLACK MBA ASSOCIATION'S 45TH ANNUAL CONFERENCE AND EXPOSITION, THE PREMIER EVENT FOR BLACK BUSINESS PROFESSIONALS AND CAREER CANDIDATES, BROUGHT TOGETHER THOUSANDS OF PROFESSIONALS WITH DIVERSE BACKGROUNDS TO CONNECT WITH NUMEROUS TOP-TIER COMPANIES AT THE PENNSYLVANIA CONVENTION CENTER. THE EVENT WILL RETURN TO PHILADELPHIA IN 2028.

  Expenses $11,015,307

• MARKETING & COMMUNICATIONS THE MARKETING AND COMMUNICATIONS TEAM CRAFTS CONTENT AND CAMPAIGNS THAT PROMOTE PHILADELPHIA, THE PHLCVB, AND THE PENNSYLVANIA CONVENTION CENTER THROUGH A VARIETY OF PROGRAMS TARGETING MEETING AND EVENT PLANNERS, INFLUENCERS, CONVENTION ATTENDEES, MEDIA, DOMESTIC GROUP TOUR OPERATORS, INTERNATIONAL LEISURE TRAVELERS, AND TRAVEL TRADE PROFESSIONALS. THESE ACTIVITIES ALL HELP TO SUPPORT THE EFFORTS OF THE CONVENTION SALES AND GLOBAL TOURISM PROGRAMS IN DRIVING OVERNIGHT VISITATION TO PHILADELPHIA THROUGH CREATIVE MESSAGING AND STORYTELLING. KEY HIGHLIGHTS INCLUDE: PHLCVB MARKETING & COMMUNICATIONS CAMPAIGNS: -IN JANUARY 2023, THE PHLCVB AND VISIT PHILADELPHIA LAUNCHED THEIR FIRST- EVER JOINT DESTINATION MARKETING CAMPAIGN - "COME FOR PHILADELPHIA. STAY FOR PHILLY." THIS FUN, LIGHTHEARTED CAMPAIGN PUT THE CITY'S CONFIDENCE AND ATTITUDE AT THE FOREFRONT AS IT AIMED TO DRIVE VISITATION TO THE REGION ACROSS ALL TRAVEL SEGMENTS - LEISURE, BUSINESS, AND GROUP. -THE PHLCVB'S SOCIAL MEDIA CHANNELS INCREASED FANS AND FOLLOWERS BY 68,378. TOTAL FOLLOWERS ACROSS ALL OWNED ACCOUNTS TOTALED 443,155 OVER 13 ACCOUNTS IN 4 COUNTRIES. -IN 2024, THE PHLCVB WEBSITE HAD NEARLY 573,000 TOTAL UNIQUE VISITS AND 984,000 PAGE VIEWS. -MORE THAN 50 MEDIA FAM GUESTS WERE HOSTED, INCLUDING THE TODAY SHOW AUSTRALIA, BROADCASTING FROM THE "ROCKY STEPS" OF THE PHILADELPHIA MUSEUM OF ART. -IN SPRING OF 2024, MICHELIN PUBLISHED ITS VERY FIRST PHILADELPHIA DESTINATION GUIDE, HIGHLIGHTING THE CITY'S TOP LEISURE TRAVEL EXPERIENCES. AT THE TIME, PHILADELPHIA WAS THE EIGHTH U.S. DESTINATION TO BE FEATURED IN A MICHELIN GREEN GUIDE.

  Expenses $4,637,873

• GLOBAL TOURISM: -MARKETS OF FOCUS FOR GLOBAL TOURISM INITIATIVES INCLUDE REPRESENTATION FIRMS AROUND THE GLOBE IN CHINA, INDIA, AUSTRALIA, MEXICO, CANADA, FRANCE, ITALY (ALSO COVERS SPAIN), GERMANY (ALSO COVERS AUSTRIA AND SWITZERLAND), AND THE U.K. (ALSO COVERS IRELAND). -IN 2024, PHILADELPHIA'S INTERNATIONAL VISITATION OUTPACED THE NATIONAL AVERAGE FOR OVERNIGHT VISITORS WITH MORE THAN 1.1 MILLION VISITORS CHOOSING TO TRAVEL TO THE CITY FROM INTERNATIONAL DESTINATIONS, RESULTING IN 579.3 MILLION IN SPENDING. THESE VISITORS CONTRIBUTED AN ECONOMIC IMPACT OF 955.9 MILLION AND DIRECTLY SUPPORTED 8,128 HOSPITALITY JOBS. -GLOBAL TOURISM ACTIVITY HIGHLIGHTS INCLUDE THE TEAM ATTENDING 44 SALES EVENTS AND HOSTING 124 TRAVEL TRADE PARTNERS ON 27 FAM TOURS OF PHILADELPHIA.

  Expenses $2,133,356

• PARTNERSHIP (MEMBERSHIP): THE PHLCVB PARTNERSHIP PROGRAM PROVIDES REGIONAL BUSINESSES A PLATFORM FOR MARKETING THEIR LOCATIONS AND SERVICES, AND A VALUABLE CONNECTION POINT WITH MEETING PROFESSIONALS, LOCAL, REGIONAL, NATIONAL AND INTERNATIONAL VISITORS, BUSINESS TRAVELERS AND CONVENTION ATTENDEES. THE PROGRAM PROVIDES PARTNERS WITH RESEARCH ABOUT THE TRAVEL INDUSTRY, TREND ANALYTICS, CURRENT AND FUTURE EVENT BOOKINGS DETAILS, ACCESS TO EXCLUSIVE NETWORKING EVENTS, AND MORE. -THE PHLCVB HAD 684 TOTAL PARTNERS, WITH 89 NEW PARTNERS JOINING OVER THE YEAR AND A RETENTION RATE OF 93%. GROUP TOUR SALES:

  Expenses $1,086,047

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• PCVB FOUNDATION

  501C · FUNDRAISE · PA · controlled entity

  Directly controlled by PCVB

Provenance

Return type

form_990

Tax year

2023

Filed

28 February 2025

IRS schema version

2023v6.0

Source object

202510649349300616

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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