PHILADELPHIA CONVENTION & VISITORS BUREAU

EIN: 230969325

PHILADELPHIA, PA

Total Revenue
$24,719,214
Total Expenses
$23,427,108
Total Assets
$27,841,017
Net Assets
$19,283,086
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Financial Trends

Organization Details

Formation Year
1942
Legal Domicile
PA
Principal Officer
GREGG CAREN
Phone
2156363300
Tax Period
2024-07-01 to 2025-06-30

PHILADELPHIA CONVENTION & VISITORS BUREAU, founded in 1942, is a mid-sized nonprofit that reported $24.7M in total revenue in fiscal year 2024. Expenses of $23.4M left a modest 5% surplus.

Mission

THE PHILADELPHIA CONVENTION & VISITORS BUREAU (PHLCVB) IS THE OFFICIAL TOURISM PROMOTION AGENCY FOR THE CITY OF PHILADELPHIA GLOBALLY, AND THE SALES AND MARKETING AGENCY FOR THE PENNSYLVANIA CONVENTION CENTER (PCC). PHLCVB MARKETS PHILADELPHIA AS A TOP DESTINATION FOR MEETINGS, CONVENTIONS, SPORTING EVENTS AND INTERNATIONAL LEISURE TOURISM. IN FISCAL 2025, THE PHLCVB HOSTED 267 EVENTS IN TOTAL, INCLUDING 21 CITYWIDE EVENTS (THOSE WITH OVER 2,000 ROOM NIGHTS ON PEAK) THAT BOOSTED THE LOCAL ECONOMY. THESE EVENTS RESULTED IN 410 MILLION IN DIRECT SPEND AND 636 MILLION IN ECONOMIC IMPACT, WHICH GENERATED 27.2 MILLION IN LOCAL TAX REVENUE AND 31.9 MILLION IN STATE TAX REVENUE. KEY PROGRAMS INCLUDED: -CONVENTION SALES: SALES AND INCENTIVE EFFORTS TO ATTRACT, BOOK, AND REBOOK MAJOR CONVENTIONS, TRADESHOWS, MEETINGS, AND SPORTING EVENTS TO POSITION PHILADELPHIA AS A PREMIER MEETING DESTINATION AROUND THE WORLD. -DESTINATION SERVICES: CONNECTING MEETING PLANNERS WITH PHILADELPHIA STAKEHOLDERS I

Program Service Accomplishments

Program 1
Expenses: $11,590,902

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...

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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 PCC, 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. IN FISCAL 2025, PHILADELPHIA'S HOSPITALITY INDUSTRY CONTINUED TO SEE YEAR- OVER-YEAR IMPROVEMENTS IN PERFORMANCE METRICS ACROSS MANY CATEGORIES. -THE PHLCVB SECURED 297 EVENTS FOR FUTURE YEARS, INCLUDING 17 CITY-WIDE EVENTS, PROJECTED TO BRING AN ESTIMATED 567,562 ATTENDEES TO PHILADELPHIA, GENERATING AN ESTIMATED 586,851 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: -IN FISCAL 2025, PHL LIFE SCIENCES HOSTED 59 EVENTS, WELCOMING 82,606 ATTENDEES, AND 146,603 ROOM NIGHTS. THE DIVISION BOOKED 73 CONVENTIONS FOR FUTURE YEARS WITH AN ESTIMATED 72,667 ATTENDEES AND 116,799 ROOM NIGHTS. -THE 2025 AMERICAN SOCIETY OF ANESTHESIOLOGISTS ANNUAL MEETING WELCOMED MORE THAN 12,000 MEDICAL PROFESSIONALS AND RESEARCHERS TO THE PCC. THE EVENT INCLUDED EDUCATIONAL SESSIONS AND WORKSHOPS THAT PROVIDED THE OPPORTUNITY FOR PROFESSIONALS TO SHARE KNOWLEDGE AND NEW DIRECTIONS IN RESEARCH AND PRACTICE. -CPHI NORTH AMERICA, THE NATION'S PREMIER PHARMACEUTICAL CONVENTION, HOSTED AT THE PCC OVER THE COURSE OF THREE DAYS, CREATING CONNECTIONS AND PARTNERSHIPS ACROSS THE GLOBAL PHARMA COMMUNITY. 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: -IN FISCAL 2025, PHL SPORTS BOOKED 24 SPORTING EVENTS FOR FUTURE YEARS WITH AN ESTIMATED 279,360 ATTENDEES AND 116,130 ROOM NIGHTS. -IN FISCAL 2025, LINCOLN FINANCIAL FIELD HOSTED THE NCAA MEN'S LACROSSE CHAMPIONSHIPS, WELCOMING MORE THAN 80,000 FANS OVER MEMORIAL DAY WEEKEND. 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: -IN FISCAL 2025, PHL DIVERSITY HOSTED 19 EVENTS WITH 30,918 ATTENDEES AND 32,847 ROOM NIGHTS. THE DIVISION BOOKED 18 CONVENTIONS FOR FUTURE YEARS WITH AN ESTIMATED 12,596 ATTENDEES AND 19,980 ROOM NIGHTS. -IN OCTOBER 2024, THE ANITAB.ORG GRACE HOPPER CELEBRATION BROUGHT TOGETHER 11,000 WOMEN AND NON-BINARY TECHNOLOGISTS FOR THE WORLD'S LARGEST CONFERENCE DEDICATED TO ADVANCING DIVERSITY IN TECH THROUGH PROFESSIONAL DEVELOPMENT, NETWORKING, AND CAREER OPPORTUNITIES. -DELTA SIGMA THETA SORORITY 2024 HELD THEIR EASTERN REGIONAL CONFERENCE IN PHILADELPHIA WHICH BROUGHT TOGETHER MORE THAN 10,000 MEMBERS OF THE HISTORIC, SERVICE-DRIVEN SISTERHOOD TO THE PCC FOR A WEEKEND OF EMPOWERMENT, NETWORKING, AND COMMUNITY IMPACT.

Program 2
Expenses: $5,702,167

MARKETING & COMMUNICATIONS THE MARKETING AND COMMUNICATIONS TEAM CRAFTS CONTENT AND CAMPAIGNS THAT PROMOTE PHILADELPHIA, THE PHLCVB, AND THE PCC THROUGH A VARIETY OF PROGRAMS TARGETING MEETING AND...

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MARKETING & COMMUNICATIONS THE MARKETING AND COMMUNICATIONS TEAM CRAFTS CONTENT AND CAMPAIGNS THAT PROMOTE PHILADELPHIA, THE PHLCVB, AND THE PCC 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: -THE PHLCVB'S SOCIAL MEDIA CHANNELS INCREASED FANS AND FOLLOWERS BY 76,586. TOTAL FOLLOWERS ACROSS ALL OWNED ACCOUNTS TOTALED 526,226 OVER 15 ACCOUNTS IN 4 COUNTRIES. -IN FISCAL 2025, THE PHLCVB WEBSITE HAD 227,113 UNIQUE VISITORS AND 574,928 TOTAL PAGE VIEWS.

Program 3
Expenses: $2,565,858

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...

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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), THE U.K. (ALSO COVERS IRELAND), AND THE NETHERLANDS (ALSO COVERS BELGIUM AND LUXEMBURG). -IN FISCAL 2025, PHILADELPHIA WELCOMED 1.2 MILLION VISITORS WHO CHOSE TO TRAVEL TO THE CITY FROM INTERNATIONAL DESTINATIONS, RESULTING IN 678.9 MILLION IN SPENDING. THESE VISITORS CONTRIBUTED AN ECONOMIC IMPACT OF 1.2 BILLION AND DIRECTLY SUPPORTED 9,548 HOSPITALITY JOBS. -GLOBAL TOURISM ACTIVITY HIGHLIGHTS INCLUDE THE TEAM ATTENDING 62 SALES EVENTS AND HOSTING MORE THAN 150 TRADE PARTNERS FROM 14 COUNTRIES ON 22 FAM TOURS OF PHILADELPHIA.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $14,828,576
Program Service Revenue $8,965,704
Investment Income $908,340
Other Revenue $16,594
TOTAL REVENUE $24,719,214

Expense Breakdown

Grants Paid $0
Salaries & Benefits $9,938,887
Fundraising Expenses $0
Program Expenses $21,227,503
Other Expenses $13,488,221
TOTAL EXPENSES $23,427,108

Year-over-Year Comparison

2024 2023 Change
Revenue $24,719,214 $23,404,663 +0.1%
Expenses $23,427,108 $21,201,108 +0.1%
Net Income $1,292,106 $2,203,555 -0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
66
Independent Members
65
Employees
65
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$1,549,785
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GREGG CAREN PRES. & CEO 50.00
Officer
$566,582 $52,375 $618,957
MARIA GRASSO CHIEF SALES 50.00
Officer
$299,470 $64,522 $363,992
LARRY NEEDLE EXEC DIR PH 50.00
Officer
$245,727 $52,560 $298,287
ARTHUR M AYRES CFO 50.00
Officer
$208,290 $60,259 $268,549
JOSEPH HELLER CMO 50.00
Highest
$224,323 $39,670 $263,993
BONNIE GRANT EX DIR PHL L 50.00
Highest
$201,287 $41,650 $242,937
JASON JORDAN VP CONVENTIO 50.00
Highest
$159,375 $65,622 $224,997
KEVIN RICHARD NAT'L ACCOUN 50.00
Highest
$188,404 $24,409 $212,813
CHRISTINE SPENCER MARKETING DI 50.00
Highest
$142,390 $37,973 $180,363
SEE ATTACHED FOR THE BOD LIST BOD N/A
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $24,719,214 $23,427,108 $27,841,017 $1,292,106
2024 $23,404,663 $21,201,108 $25,481,525 $2,203,555
2023 $18,769,517 $16,801,073 $24,266,720 $1,968,444
2022 $20,955,897 $12,604,123 $21,636,489 $8,351,774
2021 $7,441,496 $9,201,487 $12,011,109 $-1,759,991
2020 $17,346,622 $16,780,315 $10,682,629 $566,307
2019 $20,555,890 $19,071,910 $12,165,571 $1,483,980
2018 $18,228,275 $17,012,135 $10,116,668 $1,216,140
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