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Nonprofiteer
← COLORADO SPRINGS CONVENTION VISITORS BUREAU

Form 990 for tax year 2024

Filed by COLORADO SPRINGS CONVENTION VISITORS BUREAU.

Totals

Total revenue
$6,163,745
Total expenses
$5,959,697
Contributions and grants received
$458,199
Grants paid
$92,000
Program service revenue
$5,503,908
Investment income
$182,787
Other revenue
$18,851
Total assets, end of year
$8,700,682
Total liabilities, end of year
$2,953,018
Net assets or fund balances, end of year
$5,747,664
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 1e · Government grants (contributions)

    $437,000

  • 1f · All other contributions, gifts and grants

    $21,199

  • 1g · Noncash contributions included above

    $21,199

  • 2a · Program service revenue: Government fees

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

  • 2b · Program service revenue: Member derived revenue

    total $446,457 · related or exempt $446,457

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

    total $30,651 · related or exempt $30,651

  • 2d · Program service revenue: Official Visitor Guide

    total $26,800 · unrelated business $26,800

  • 3 · Investment income

    total $182,787 · excluded $182,787

  • 10a · Gross sales of inventory

    $6,537

  • 10b · Cost of goods sold

    $2,686

  • 10c · Net income from sales of inventory

    total $3,851 · unrelated business $3,851

  • 11a · Other revenue: OVG commissions revenu

    total $15,000 · unrelated business $15,000

  • 11e · Other revenue, total

    $15,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $92,000

  • 5 · Compensation of officers, directors and key employees

    total $381,383

  • 7 · Other salaries and wages

    total $1,370,937

  • 8 · Pension plan contributions

    total $32,293

  • 9 · Other employee benefits

    total $50,781

  • 10 · Payroll taxes

    total $261,843

  • 11b · Fees: legal

    total $2,735

  • 11c · Fees: accounting

    total $67,210

  • 11f · Fees: investment management

    total $16,036

  • 11g · Fees: other

    total $29,574

  • 12 · Advertising and promotion

    total $2,243,957

  • 13 · Office expenses

    total $280,366

  • 16 · Occupancy

    total $469,095

  • 17 · Travel

    total $175,664

  • 20 · Interest

    total $71,715

  • 22 · Depreciation, depletion and amortization

    total $128,046

  • 23 · Insurance

    total $10,054

  • 24a · Other expenses: Business development

    total $172,172

  • 24b · Other expenses: Public relations

    total $77,437

  • 24c · Other expenses: Community events assist

    total $26,399

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,213,813 · end of year $239,581

  • 2 · Savings and temporary cash investments

    end of year $688,635

  • 3 · Pledges and grants receivable

    end of year $162,070

  • 4 · Accounts receivable

    beginning of year $122,929 · end of year $77,077

  • 8 · Inventories for sale or use

    beginning of year $5,649 · end of year $8,470

  • 9 · Prepaid expenses and deferred charges

    beginning of year $286,643 · end of year $409,166

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

    $4,555,457

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

    $494,552

  • 10c · Land, buildings and equipment, net

    beginning of year $321,246 · end of year $4,060,905

  • 11 · Investments: publicly traded securities

    beginning of year $3,896,438 · end of year $3,056,819

  • 13 · Investments: program-related

    beginning of year $40,221 · end of year -$2,568

  • 15 · Other assets

    beginning of year $767,403 · end of year $527

  • 17 · Accounts payable and accrued expenses

    beginning of year $197,990 · end of year $257,726

  • 19 · Deferred revenue

    beginning of year $142,124 · end of year $208,646

  • 23 · Secured mortgages and notes payable

    end of year $2,486,646

  • 25 · Other liabilities

    beginning of year $817,512 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $5,496,716 · end of year $5,747,664

Mission and programs · 2024

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.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Scott Marble

    Chair (thru 05/24/24)

    Total calculated
    $0
    Hours/week
    1

  • Gus Krimm

    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

  • Curtis Bova

    Director

    Total calculated
    $0
    Hours/week
    1

  • Susan Davies

    Past Chair

    Total calculated
    $0
    Hours/week
    1

  • Scott Flexman

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jen Furda

    Director

    Total calculated
    $0
    Hours/week
    1

  • Megan Leatham

    Director

    Total calculated
    $0
    Hours/week
    1

  • Dan LeClerc

    Director

    Total calculated
    $0
    Hours/week
    1

  • Wendy McHenry

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ed Okvath

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jenny Sherman

    Director

    Total calculated
    $0
    Hours/week
    1

  • Marisa Wigglesworth

    Director

    Total calculated
    $0
    Hours/week
    1

  • Douglas Price

    President/CEO

    Total calculated
    $293,102
    From this org
    $263,542
    From related orgs
    $0
    Other
    $29,560
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,508
    Bonus
    $31,034
    Other
    $0
    Deferred
    $7,094
    Nontaxable benefits
    $22,466
    Filer's total
    $293,102

  • April Perez

    Director of Finance

    Total calculated
    $88,281
    From this org
    $68,094
    From related orgs
    $0
    Other
    $20,187
    Hours/week
    40

  • Amy Long

    Chief Innovation Officer

    Total calculated
    $143,174
    From this org
    $118,300
    From related orgs
    $0
    Other
    $24,874
    Hours/week
    40

  • Kathy Reak

    Vice President of Sales

    Total calculated
    $131,404
    From this org
    $127,145
    From related orgs
    $0
    Other
    $4,259
    Hours/week
    40

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 -$42,789 · share of assets $206,425

Provenance

Return type
form_990
Tax year
2024
Filed
17 June 2025
IRS schema version
2024v5.1
Source object
202531689349300438

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