← VAIL VALLEY TOURISM AND CONVENTION BUREAU

Form 990 for tax year 2023

Filed by VAIL VALLEY TOURISM AND CONVENTION BUREAU.

Totals

Total revenue: $1,262,872
Total expenses: $1,354,578
Contributions and grants received: $771,617
Grants paid: $0
Program service revenue: $491,015
Investment income: $240
Other revenue: $0
Total assets, end of year: $563,412
Total liabilities, end of year: $443,407
Net assets or fund balances, end of year: $120,005
Program services expenses (Part IX): $831,687
Management and general expenses: $522,891
Fundraising expenses: $0
Program service expenses (Part III): $831,687

Program services were 61.4% 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.

Revenue

Part VIII, the statement of revenue.

1b · Membership dues

$437,228
1e · Government grants (contributions)

$329,791
1f · All other contributions, gifts and grants

$4,598
2a · Program service revenue: MARKETING FEES

total $327,590 · related or exempt $327,590
2b · Program service revenue: LODGING QUALITY ASSURANCE

total $110,738 · related or exempt $110,738
2c · Program service revenue: AIR ALLIANCE

total $40,000 · related or exempt $40,000
2d · Program service revenue: CENTRAL RESERVATION BOOKING

total $7,133 · excluded $7,133
2e · Program service revenue: BUSINESS AWARDS GALA

total $5,554 · related or exempt $5,554
3 · Investment income

total $240 · excluded $240

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $185,969 · program services $139,477 · management and general $46,492
7 · Other salaries and wages

total $658,579 · program services $483,331 · management and general $175,248
9 · Other employee benefits

total $118,565 · program services $87,015 · management and general $31,550
10 · Payroll taxes

total $66,704 · program services $50,268 · management and general $16,436
11c · Fees: accounting

total $15,000 · program services $8,610 · management and general $6,390
11g · Fees: other

total $3,000 · program services $2,229 · management and general $771
12 · Advertising and promotion

total $10,339 · management and general $10,339
13 · Office expenses

total $21,631 · program services $2,572 · management and general $19,059
14 · Information technology

total $66,526 · program services $4,224 · management and general $62,302
16 · Occupancy

total $78,736 · program services $445 · management and general $78,291
17 · Travel

total $27,121 · program services $18,735 · management and general $8,386
19 · Conferences, conventions and meetings

total $2,367 · program services $2,367
22 · Depreciation, depletion and amortization

total $15,901 · program services $2,536 · management and general $13,365
23 · Insurance

total $6,938 · management and general $6,938
24a · Other expenses: PARTNER PROGRAMS

total $21,999 · program services $21,999
24b · Other expenses: DUES & SUBSCRIPTIONS

total $16,860 · program services $566 · management and general $16,294
24c · Other expenses: EDUCATION

total $15,016 · program services $278 · management and general $14,738
24d · Other expenses: AUTO EXPENSE

total $13,406 · management and general $13,406
24e · All other expenses

total $9,921 · program services $7,035 · management and general $2,886

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $308,687 · end of year $264,753
4 · Accounts receivable

beginning of year $67,817 · end of year $33,212
9 · Prepaid expenses and deferred charges

beginning of year $27,872 · end of year $27,526
10a · Land, buildings and equipment: cost or other basis

$519,947
10b · Land, buildings and equipment: accumulated depreciation

$287,153
10c · Land, buildings and equipment, net

beginning of year $259,666 · end of year $232,794
15 · Other assets

beginning of year $5,127 · end of year $5,127
17 · Accounts payable and accrued expenses

beginning of year $90,158 · end of year $57,083
19 · Deferred revenue

beginning of year $162,982 · end of year $198,224
25 · Other liabilities

beginning of year $201,370 · end of year $188,100
27 · Net assets without donor restrictions

beginning of year $214,659 · end of year $120,005

Mission and programs · 2023

Mission

OUR MISSION IS FOCUSED AROUND FIVE PRIMARY GOALS: BUILDING COMMUNITIES TO WHICH RESIDENTS, VISITORS AND INVESTORS ARE ATTRACTED; PROMOTING THE COMMUNITIES; STRIVING TO ENSURE FUTURE PROSPERITY VIA A PRO-BUSINESS CLIMATE; REPRESENTING THE UNIFIED VOICE OF THE EMPLOYER COMMUNITY; AND REDUCING TRANSACTIONAL FRICTION THROUGH WELL-FUNCTIONING NETWORKS.

Activities or mission (Part I)

OUR PROGRAMS ARE FOCUSED ON SERVICE TO BUSINESSES & MEMBERS, DESTINATION SALES & MARKETING, AND ECONOMIC VITALITY & ADVOCACY

VAIL VALLEY PARTNERSHIP IS DEDICATED TO ENSURING LOCAL BUSINESS SUCCESS AND FOSTERING REGIONAL ECONOMIC VITALITY BY OFFERING LOCAL BUSINESS TOOLS & RESOURCES, PROMOTING THE EAGLE RIVER VALLEY TO DESTINATION GUESTS, AND INITIATING ECONOMIC DEVELOPMENT EFFORTS. THE PARTNERSHIP'S EFFORTS IN THE COMMUNITY INCLUDE THREE DISTINCT YET CONNECTED ROLES: ECONOMIC GROWTH & ADVOCACY- WE WORK TO ENSURE THE VAIL VALLEY'S ECONOMIC HEALTH STAYS STRONG FOR YEARS TO COME. WE WORK TO HELP EXISTING VAIL VALLEY BUSINESSES THRIVE AND RECRUIT NEW BUSINESSES THAT HAVE THE POTENTIAL TO SUPPORT OUR LOCAL ECONOMY. OUR PRIMARY FOCUS AREAS INCLUDE BUSINESS RETENTION & WORKFORCE AND TALENT PIPELINE DEVELOPMENT. REGIONAL CHAMBER OF COMMERCE- WE WORK TO PROVIDE THE VALLEY'S BUSINESSES WITH NETWORKING, EDUCATIONAL, AND COLLABORATIVE PROGRAMMING OPPORTUNITIES WITH THE GOAL OF STRENGTHENING OUR LOCAL COMMUNITY. OUR PRIMARY FOCUS AREAS INCLUDE EDUCATIONAL PROGRAMMING, ADVOCACY, NETWORKING & CONNECTIONS, AND OTHER SMALL BUSINESS SUPPORT EFFORTS. TOURISM DEVELOPMENT- WE WORK TO PROMOTE THE ENTIRE VAIL VALLEY AS A YEAR-ROUND DESTINATION TO POTENTIAL IN-STATE, OUT-OF-STATE AND INTERNATIONAL VISITORS THROUGH VISITVAILVALLEY.COM. OUR PRIMARY FOCUS AREAS ARE TO ATTRACT GROUPS AND MEETINGS FROM ALL OVER THE COUNTRY TO THE VAIL VALLEY AND TO INFORM LEISURE GUESTS ON ATTRACTIONS THROUGHOUT THE EAGLE RIVER VALLEY. LEADING ECONOMIC RESILIENCY: IT IS INCREASINGLY APPARENT THAT REGIONAL ECONOMIC PROSPERITY IS LINKED TO AN AREA'S ABILITY TO PREVENT, WITHSTAND, AND QUICKLY RECOVER FROM MAJOR DISRUPTIONS (I.E., 'SHOCKS') TO ITS ECONOMIC BASE. VAIL VALLEY PARTNERSHIP SERVES AS A RESPONSIVE PARTICIPANT IN ECONOMIC RECOVERY EFFORTS BY SERVING AS AN INFORMATION HUB BY COLLECTING DATA AND CONVENING THE APPROPRIATE PLAYERS TO FACILITATE RECOVERY POST-DISRUPTION. WE HELP OUR GOVERNMENT & SPECIAL DISTRICTS AS A CONDUIT TO THE BUSINESS COMMUNITY, AND OUR BUSINESS COMMUNITY AS A VOICE TO GOVERNMENT OFFICIALS.

Expenses $824,401
SEE SCHEDULE O

Expenses $7,286

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

Listed in Part VII

Chris RomerCHRIS ROMER

CEO

Total calculated

$203,348

From this org

$185,969

From related orgs

$0

Other

$17,379

Hours/week

40

Schedule J breakdown matched by us

Base

$185,969

Bonus

not reported

Other

not reported

Deferred

$17,379

Nontaxable benefits

not reported

Filer's total

$203,348
Colter BarnettCOLTER BARNETT

BOARD MEMBER

Total calculated

$0

Hours/week

1
Marc BrennanMARC BRENNAN

BOARD MEMBER

Total calculated

$0

Hours/week

1
Mike BrownMIKE BROWN

EXECUTIVE CO

Total calculated

$0

Hours/week

1
Pedro CamposPEDRO CAMPOS

BOARD MEMBER

Total calculated

$0

Hours/week

1
Will CookWILL COOK

BOARD MEMBER

Total calculated

$0

Hours/week

1
John DawseyJOHN DAWSEY

BOARD MEMBER

Total calculated

$0

Hours/week

1
Sarah FrankeSARAH FRANKE

BOARD MEMBER

Total calculated

$0

Hours/week

1
Mark HerronMARK HERRON

CHAIR

Total calculated

$0

Hours/week

1
Bratzo HorruitinerBRATZO HORRUITINER

BOARD MEMBER

Total calculated

$0

Hours/week

1
Tiffany IngoldsbyTIFFANY INGOLDSBY

TREASURER

Total calculated

$0

Hours/week

1
Jeff KennedyJEFF KENNEDY

EXECUTIVE CO

Total calculated

$0

Hours/week

1
Margaret MartinezMARGARET MARTINEZ

BOARD MEMBER

Total calculated

$0

Hours/week

1
Madelyn MosesMADELYN MOSES

BOARD MEMBER

Total calculated

$0

Hours/week

1
Melina ValseciaMELINA VALSECIA

BOARD MEMBER

Total calculated

$0

Hours/week

1
Gary WoodworthGARY WOODWORTH

BOARD MEMBER

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

None.

Answered no

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

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.

Provenance

Return type: form_990
Tax year: 2023
Filed: 24 June 2024
IRS schema version: 2023v5.0
Source object: 202412129349301491

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