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Nonprofiteer
← COLORADO SPRINGS CONVENTION VISITORS BUREAU

Form 990 for tax year 2023

Filed by COLORADO SPRINGS CONVENTION VISITORS BUREAU.

Totals

Total revenue
$5,739,938
Total expenses
$5,046,847
Contributions and grants received
$90,239
Grants paid
$187,000
Program service revenue
$5,523,067
Investment income
$99,581
Other revenue
$27,051
Total assets, end of year
$6,654,342
Total liabilities, end of year
$1,157,626
Net assets or fund balances, end of year
$5,496,716
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$4,214,847

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.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $90,239

  • 1g · Noncash contributions included above

    $45,239

  • 2a · Program service revenue: Government fees

    total $5,000,000 · related or exempt $5,000,000

  • 2b · Program service revenue: Member derived revenue

    total $393,694 · related or exempt $393,694

  • 2c · Program service revenue: Official Visitor Guide

    total $102,470 · unrelated business $102,470

  • 2d · Program service revenue: Trade show support and

    total $26,903 · related or exempt $26,903

  • 3 · Investment income

    total $99,581 · excluded $99,581

  • 10a · Gross sales of inventory

    $16,215

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $16,215 · unrelated business $16,215

  • 11a · Other revenue: Miscellaneous revenue

    total $10,836 · related or exempt $10,836

  • 11e · Other revenue, total

    $10,836

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $187,000

  • 5 · Compensation of officers, directors and key employees

    total $397,015

  • 7 · Other salaries and wages

    total $1,127,936

  • 8 · Pension plan contributions

    total $26,469

  • 9 · Other employee benefits

    total $184,513

  • 10 · Payroll taxes

    total $117,947

  • 11c · Fees: accounting

    total $66,122

  • 11f · Fees: investment management

    total $9,962

  • 12 · Advertising and promotion

    total $1,592,050

  • 13 · Office expenses

    total $350,864

  • 16 · Occupancy

    total $476,864

  • 17 · Travel

    total $223,312

  • 20 · Interest

    total $314

  • 22 · Depreciation, depletion and amortization

    total $111,620

  • 23 · Insurance

    total $10,112

  • 24a · Other expenses: Business development

    total $117,574

  • 24b · Other expenses: Community events assist

    total $36,610

  • 24c · Other expenses: Public relations

    total $10,563

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $264,165 · end of year $1,213,813

  • 2 · Savings and temporary cash investments

    beginning of year $1,903,151 · end of year $0

  • 4 · Accounts receivable

    beginning of year $51,217 · end of year $122,929

  • 8 · Inventories for sale or use

    beginning of year $5,905 · end of year $19,915

  • 9 · Prepaid expenses and deferred charges

    beginning of year $157,934 · end of year $272,377

  • 10a · Land, buildings and equipment: cost or other basis

    $744,657

  • 10b · Land, buildings and equipment: accumulated depreciation

    $423,411

  • 10c · Land, buildings and equipment, net

    beginning of year $427,359 · end of year $321,246

  • 11 · Investments: publicly traded securities

    beginning of year $2,258,477 · end of year $3,896,438

  • 13 · Investments: program-related

    beginning of year $8,523 · end of year $40,221

  • 15 · Other assets

    beginning of year $871,948 · end of year $767,403

  • 17 · Accounts payable and accrued expenses

    beginning of year $131,019 · end of year $197,990

  • 19 · Deferred revenue

    beginning of year $134,559 · end of year $142,124

  • 25 · Other liabilities

    beginning of year $942,217 · end of year $817,512

  • 27 · Net assets without donor restrictions

    beginning of year $4,740,884 · end of year $5,496,716

Mission and programs · 2023

Mission

Colorado Springs Convention and Visitors Bureau's, now doing business as Visit Colorado Springs (VCOS), primary exempt purpose is promotion of the Pikes Peak Region. VCOS is designed to stimulate the visitor industry in the Pikes Peak Region by conducting a variety of programs, both continual and intermittent, to enhance the quantity, quality and volume of visitors to our area. In addition, VCOS works with regional entities to improve the environment, facilities and infrastructure to enhance visitor experiences.

Activities or mission (Part I)

We create economic vitality through memorable visits to the wonders of Colorado Springs and the Pikes Peak Region.

  • VCOS engages in promotional programs which include soliciting group meetings and events, operating visitor information centers, maintaining a website, community involvement in special projects, developing plans and working with regional entities to improve visitor experience, and distributing informational brochures, maps, and other publications.

    Expenses $4,214,847 · Grants $187,000 · Revenue $5,431,433

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

Listed in Part VII

  • Douglas Price

    President/CEO

    Total calculated
    $285,557
    From this org
    $256,318
    From related orgs
    $0
    Other
    $29,239
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,049
    Bonus
    $29,269
    Other
    $0
    Deferred
    $6,600
    Nontaxable benefits
    $22,639
    Filer's total
    $285,557

  • Amy Long

    Chief Innovation Officer

    Total calculated
    $139,197
    From this org
    $112,051
    From related orgs
    $0
    Other
    $27,146
    Hours/week
    40

  • Kathy Reak

    Vice President of Sales

    Total calculated
    $117,564
    From this org
    $113,348
    From related orgs
    $0
    Other
    $4,216
    Hours/week
    40

  • April Perez

    Director of Finance

    Total calculated
    $68,177
    From this org
    $65,929
    From related orgs
    $0
    Other
    $2,248
    Hours/week
    40

  • Jason Cutshaw

    Chief Financial Officer (Part Year)

    Total calculated
    $43,281
    From this org
    $40,374
    From related orgs
    $0
    Other
    $2,907
    Hours/week
    40

  • Susan Davies

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Pepper Dombroski

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Dave Harris

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Becky Leinweber

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Kristina Coggins Heck

    Director

    Total calculated
    $0
    Hours/week
    1

  • Megan Leatham

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jenny Sherman

    Director

    Total calculated
    $0
    Hours/week
    1

  • Angela Seals

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kevin Penn

    Director

    Total calculated
    $0
    Hours/week
    1

  • Andrew Stegen

    Director

    Total calculated
    $0
    Hours/week
    1

  • Gus Krimm

    Director

    Total calculated
    $0
    Hours/week
    1

  • Brooke Mikulas

    Director

    Total calculated
    $0
    Hours/week
    1

  • Wendy McHenry

    Director

    Total calculated
    $0
    Hours/week
    1

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

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Part I, Line 3
Compensation for the President/CEO is determined through a review of compensation for similar CEOs of other national destination marketing organizations, obtained via a confidential survey from Destinations International. We also review nonprofit salary surveys provided by Employers Council and Form 990s of other organizations. This information is shared with the finance committe which determines and approves President/CEO compensation under delegation of the Board of Directors and is executed in a written employment contract.

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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Official Visitors Guide-Colorado

    Unrelated · Advertising sales · CO · 50% owned · share of income $31,697 · share of assets $252,975

Provenance

Return type
form_990
Tax year
2023
Filed
10 July 2024
IRS schema version
2023v5.1
Source object
202431929349300928

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