TRAVERSE CITY CONVENTION AND VISIT… - 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

1995

Legal Domicile

Principal Officer

FREDERICK HELLER

Phone

2319471120

Tax Period

2024-01-01 to 2024-12-31

TRAVERSE CITY CONVENTION AND VISITORS BUREAU EDUCATION FOUNDATI, founded in 1995, is a small nonprofit in the Recreation & Sports sector that reported $245K in total revenue in fiscal year 2024. Revenue surged 128% from the prior year, signaling strong growth momentum. Expenses of $640K exceeded revenue, resulting in a 161% operating deficit.

Mission

EDUCATE THE PUBLIC ABOUT TOURISM IN THE GRAND TRAVERSE AREA

Program Service Accomplishments

Program 1

TO ADVANCE AND PROMOTE THE GENERAL UNDERSTANDING OF THE PUBLIC CONCERNING THE HISTORICAL, CULTURAL, AGRICULTURAL, SOCIAL, AND ECONOMIC ASPECTS OF THE GRAND TRAVERSE REGION. IN THE YEAR 2023 WE...

TO ADVANCE AND PROMOTE THE GENERAL UNDERSTANDING OF THE PUBLIC CONCERNING THE HISTORICAL, CULTURAL, AGRICULTURAL, SOCIAL, AND ECONOMIC ASPECTS OF THE GRAND TRAVERSE REGION. IN THE YEAR 2023 WE ASSISTED THOUSANDS OF VISITORS THAT WERE LOOKING FOR TRAVERSE CITY INFORMATION AND PROVIDED TUITION ASSISTANCE THROUGH THE USE OF SCHOLARSHIPS TO SELECTED STUDENTS SEEKING FURTHER EDUCATION IN THE HOSPITALITY/TOURISM INDUSTRY. THE FOUNDATION ALSO WELCOMES OVER A DOZEN LOCAL NONPROFIT ORGANIZATIONS TO UTILIZE ITS SPACE FOR MEETINGS AND EVENTS AND HOSTS THE SARAH HARDY FARMER'S MARKET WEEKLY THROUGHOUT THE WINTER MONTHS.

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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 $145,653

Program Service Revenue $99,238

Investment Income $5

Other Revenue $0

TOTAL REVENUE $244,896

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $639,674

TOTAL EXPENSES $639,674

Year-over-Year Comparison

	2024	2023	Change
Revenue	$244,896	$107,562	+1.3%
Expenses	$639,674	$626,545	+0.0%
Net Income	$-394,778	$-518,983	-0.2%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS MACINNES	TRUSTEE	N/A	Director	$0	$0	$0
JUSTIN MORTIER	VICE CHAIR	N/A	Director	$0	$0	$0
RON ROBINSON	TRUSTEE	N/A	Director	$0	$0	$0
FREDERICK HELLER	CHAIR	N/A	Officer	$0	$0	$0
JONATHAN PACK	SECRETARY/TR	N/A	Officer	$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
2024	$244,896	$639,674	$1,099,718	$-394,778
2023	$107,562	$626,545	$1,168,113	$-518,983
2022	$102,655	$465,492	$1,145,883	$-362,837
2021	$90,070	$370,726	$942,173	$-280,656
2020	$82,948	$366,778	$971,879	$-283,830
2019	$101,935	$384,418	$928,953	$-282,483
2018	$96,395	$397,458	$911,129	$-301,063

TRAVERSE CITY CONVENTION AND VISITORS BUREAU EDUCATION FOUNDATI