Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $60,700

• 1f · All other contributions, gifts and grants

  $65,714

• 1g · Noncash contributions included above

  $65,714

• 2a · Program service revenue: PUBLIC SECTOR REVENUE

  total $1,306,065 · related or exempt $1,306,065

• 2b · Program service revenue: SALEM TOURISM PROMOTIO

  total $973,560 · related or exempt $973,560

• 2c · Program service revenue: FLY SALEM MARKET REVEN

  total $355,000 · related or exempt $355,000

• 2d · Program service revenue: EVENTS

  total $47,881 · related or exempt $47,881

• 2e · Program service revenue: POLK COUNTY DESTINATIO

  total $44,500 · related or exempt $44,500

• 2f · All other program service revenue

  total $35,464 · related or exempt $35,464

• 3 · Investment income

  total $7,165 · excluded $7,165

• 6a · Gross rents

  personal property $7,564

• 6b · Less rental expenses

  personal property $1,886

• 6c · Rental income or loss

  personal property $5,678

• 6d · Net rental income or loss

  total $5,678 · unrelated business $5,678

• 11a · Other revenue: INSURANCE SETTLEMENTS

  total $17,998 · related or exempt $17,998

• 11b · Other revenue: ADVERTISING REVENUE

  total $8,675 · unrelated business $8,675

• 11c · Other revenue: SAIF DIVIDEND AND MISC

  total $123 · related or exempt $123

• 11e · Other revenue, total

  $26,796

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $29,500 · program services $29,500

• 5 · Compensation of officers, directors and key employees

  total $206,325 · program services $185,693 · management and general $20,632

• 7 · Other salaries and wages

  total $701,577 · program services $691,428 · management and general $10,149

• 8 · Pension plan contributions

  total $13,822 · program services $13,598 · management and general $224

• 9 · Other employee benefits

  total $94,416 · program services $93,176 · management and general $1,240

• 10 · Payroll taxes

  total $89,447 · program services $86,921 · management and general $2,526

• 11c · Fees: accounting

  total $4,105 · management and general $4,105

• 11g · Fees: other

  total $41,061 · program services $37,647 · management and general $3,414

• 12 · Advertising and promotion

  total $386,613 · program services $385,842 · management and general $771

• 13 · Office expenses

  total $124,285 · program services $117,784 · management and general $6,501

• 14 · Information technology

  total $49,924 · program services $48,642 · management and general $1,282

• 16 · Occupancy

  total $93,550 · program services $88,763 · management and general $4,787

• 17 · Travel

  total $102,522 · program services $99,987 · management and general $2,535

• 20 · Interest

  total $54,194 · program services $48,986 · management and general $5,208

• 22 · Depreciation, depletion and amortization

  total $35,996 · program services $6,823 · management and general $29,173

• 23 · Insurance

  total $4,309 · program services $2,728 · management and general $1,581

• 24a · Other expenses: SPECIAL EVENTS

  total $94,764 · program services $94,260 · management and general $504

• 24b · Other expenses: LEVERAGE IN-KIND DONATI

  total $65,714 · program services $65,714

• 24c · Other expenses: REGISTRATION

  total $49,145 · program services $48,644 · management and general $501

• 24d · Other expenses: AGILITY FUND

  total $22,500 · program services $22,500

• 24e · All other expenses

  total $39,147 · program services $35,937 · management and general $3,210

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,647,443 · end of year $52,292

• 2 · Savings and temporary cash investments

  end of year $1,618,453

• 4 · Accounts receivable

  beginning of year $415,512 · end of year $457,899

• 7 · Other notes and loans receivable

  beginning of year $6,656 · end of year $6,956

• 9 · Prepaid expenses and deferred charges

  end of year $51,015

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

  $2,179,350

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

  $38,695

• 10c · Land, buildings and equipment, net

  beginning of year $1,031,951 · end of year $2,140,655

• 14 · Intangible assets

  beginning of year $43,333 · end of year $21,666

• 15 · Other assets

  beginning of year $92,741

• 17 · Accounts payable and accrued expenses

  beginning of year $327,808 · end of year $104,172

• 19 · Deferred revenue

  end of year $150

• 23 · Secured mortgages and notes payable

  beginning of year $796,376 · end of year $1,524,483

• 27 · Net assets without donor restrictions

  beginning of year $836,172 · end of year $1,250,868

• 28 · Net assets with donor restrictions

  beginning of year $1,277,280 · end of year $1,469,263

The filer's explanations (Part III)

PART I, LINE 3

CEO COMPENSATION SET BY EXECUTIVE COMMITTEE. ANNUAL SALARY SURVEY CONDUCTED WITH COMPARABLE DMO'S.