AKRON-SUMMIT CONVENTION & VISITORS… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1973

Legal Domicile

Principal Officer

GREGG MERVIS

Phone

3303748900

Tax Period

2024-01-01 to 2024-12-31

AKRON-SUMMIT CONVENTION & VISITORS BUREAU INC, founded in 1973, is a community nonprofit that reported $7.9M in total revenue in fiscal year 2024.

Mission

THE BUREAU'S MISSION IS TO PROMOTE AKRON AND SUMMIT COUNTY AS AN IDEAL LOCATION FOR MEETINGS, CONVENTIONS AND TOURS. THE CENTER'S MISSION IS TO PROVIDE A FIRST-CLASS, AFFORDABLE FACILITY TO GREATER-AKRON, REGIONAL AND NATIONAL CLIENTS FOR THE PURPOSE OF BUSINESS, EDUCATION AND ENTERTAINMENT, WHICH WILL IN TURN CREATE JOBS, ENCOURAGE NEW BUSINESS, PROMOTE TOURISM, INCREASE THE AREA'S VISIBILITY, AND GAIN FURTHER RECOGNITION FOR AKRON AND SUMMIT COUNTY AS A VIBRANT AND DYNAMIC DESTINATION FOR ANY TYPE OF EVENT.

Program Service Accomplishments

Program 1

THE PURPOSE OF THE BUREAU IS TO ENCOURAGE NEW BUSINESS, PROMOTE TOURISM, INCREASE VISIBILITY AND GAIN FURTHER RECOGNITION OF AKRON AND SUMMIT COUNTY AS A VIBRANT BUSINESS AND TOURISM DESTINATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,270,469

Program Service Revenue $3,450,238

Investment Income $78,774

Other Revenue $140,474

TOTAL REVENUE $7,939,955

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,418,180

Fundraising Expenses $0

Other Expenses $3,787,038

TOTAL EXPENSES $8,205,218

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,939,955	$7,491,399	+0.1%
Expenses	$8,205,218	$7,470,491	+0.1%
Net Income	$-265,263	$20,908	-13.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

125

Volunteers

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

$416,929

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RENATO CAMACHO	CHAIR	1.00	Officer Director	$0	$0	$0
MAUREEN M SCHNEIDER	VICE CHAIR OF THE BOARD, DIRECTOR	1.00	Officer Director	$0	$0	$0
JEFFREY LYNCH	TREASURER OF THE BOARD, DIRECTOR	1.00	Officer Director	$0	$0	$0
SHARON REAVES	SECRETARY OF THE BOARD, DIRECTOR	1.00	Officer Director	$0	$0	$0
DAVID LIEBERTH	DIRECTOR	1.00	Director	$0	$0	$0
ISMAIL AL-AMIN	DIRECTOR	1.00	Director	$0	$0	$0
JACK DELEO	DIRECTOR	1.00	Director	$0	$0	$0
SANDRA HAMAD	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINE WIEDIE HIGHAM	DIRECTOR	1.00	Director	$0	$0	$0
SHIRLENE KRAMER	DIRECTOR	1.00	Director	$0	$0	$0
JEANNINE MARKS	DIRECTOR	1.00	Director	$0	$0	$0
DON PADGETT III	DIRECTOR	1.00	Director	$0	$0	$0
DAVID E PRENTICE	DIRECTOR	1.00	Director	$0	$0	$0
BOB PURDY	DIRECTOR	1.00	Director	$0	$0	$0
MARCO SOMMERVILLE	DIRECTOR	1.00	Director	$0	$0	$0
GREGG MERVIS	CHIEF EXECUTIVE OFFICER & PRESIDENT	40.00	Officer	$225,778	$39,240	$265,018
MORELL MENDIOLA	CHIEF FINANCIAL OFFICER	40.00	Officer	$137,093	$14,818	$151,911
STEPHANIE BERRY	VICE PRESIDENT OF MARKETING & BRAND MANAGEMENT	40.00	Highest	$102,079	$13,113	$115,192
ROBERT CZUP	HEAD ELECTRICIAN	40.00	Highest	$157,674	$36,647	$194,321
RONALD DORSEY	VICE PRESIDENT OF FOOD & BEVERAGE	40.00	Highest	$146,801	$15,691	$162,492
KEITH POMERANING	VICE PRESIDENT OF OPERATIONS	40.00	Highest	$128,254	$36,391	$164,645

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
2024	$7,939,955	$8,205,218	$6,405,201	$-265,263
2023	$7,491,399	$7,470,491	$6,938,997	$20,908
2022	$7,682,701	$6,512,906	$6,703,874	$1,169,795
2021	$5,523,217	$4,622,634	$6,460,224	$900,583
2020	$3,259,968	$4,141,610	$4,697,579	$-881,642
2019	$6,822,909	$6,935,294	$5,731,004	$-112,385
2018	$7,264,055	$7,018,389	$5,650,809	$245,666

AKRON-SUMMIT CONVENTION & VISITORS BUREAU INC