GREATER MADISON CONVENTION & 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

1972

Legal Domicile

Principal Officer

ELLIE WESTMAN CHIN

Phone

6082552537

Tax Period

2024-01-01 to 2024-12-31

GREATER MADISON CONVENTION & VISITORS BUREAU INC, founded in 1972, is a community nonprofit that reported $8.0M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $7.7M left a modest 4% surplus.

Mission

GREATER MADISON CONVENTION & VISITORS BUREAU, INC.'S MISSION IS TO INSPIRE A LOVE OF MADISON. WE DO THIS BY LEADING AND DIRECTING THE DESTINATION'S TOURISM INDUSTRY IN STRATEGIC AND DYNAMIC ACTIVITIES. ACCOMPLISHING THIS MISSION WILL RESULT IN SUPPORT FOR OUR EFFORTS AND INCREASED, OPTIMUM LEVELS OF VISITOR TRAFFIC AND MAXIMUM GENERATION OF VISITOR DOLLARS FOR MADISON AND DANE COUNTY. THE IMPACT OF LIVING THIS MISSION ON A DAY-TO-DAY BASIS IS SUMMED UP BY OUR VISION FOR THE DESTINATION, OUR DESTINATION PARTNERS, AND OUR ORGANIZATION TEAM: MADISON IS A PLACE FOR ALL.

Program Service Accomplishments

Program 1

CONVENTION SERVICES:SERVICES TO MEETING PLANNERS, CONVENTIONS, INCLUDING DELEGATE HOUSING, PROGRAM PLANNING ASSISTANCE, AND PROVISION OF MEETING SUPPLIES.

Program 2

SALES:DIRECT AND INDIRECT SALES TO CONVENTION AND MEETING PLANNERS, GROUP TOUR OPERATIONS, TOURISTS, AND LOCAL BUSINESSES.

Program 3

PARTNERSHIP SERVICES:SERVICES TO MEMBERS INCLUDING SALES REFERRALS, MARKETING, AND BUSINESS PLANNING.

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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 $292,781

Program Service Revenue $7,226,992

Investment Income $449,216

Other Revenue $29,679

TOTAL REVENUE $7,998,668

Expense Breakdown

Grants Paid $14,000

Salaries & Benefits $3,764,189

Fundraising Expenses $0

Other Expenses $3,918,094

TOTAL EXPENSES $7,696,283

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,998,668	$7,273,844	+0.1%
Expenses	$7,696,283	$6,980,105	+0.1%
Net Income	$302,385	$293,739	+0.0%

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

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

$349,023

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROB CRAIN	IMMEDIATE PAST CHAIR	2.00	Officer Director	$0	$0	$0
JANE CLARK	CHAIR	4.00	Officer Director	$0	$0	$0
STEVE ZANONI	SECRETARY	4.00	Officer Director	$0	$0	$0
BREWER STOUFFER	VICE CHAIR	4.00	Officer Director	$0	$0	$0
JOEL PLANT	TREASURUER	4.00	Officer Director	$0	$0	$0
TURINA BAKKEN	OFFICER AT LARGE	2.00	Director	$0	$0	$0
CHARLES HOSLET	OFFICER AT LARGE (THRU 6/24)	2.00	Director	$0	$0	$0
LAUREN BIRKEL	DIRECTOR	2.00	Director	$0	$0	$0
DAN BROWN	DIRECTOR	2.00	Director	$0	$0	$0
MARK CLEAR	DIRECTOR (THRU MARCH 2024)	2.00	Director	$0	$0	$0
BALTAZAR DE ANDA SANTANA	DIRECTOR	2.00	Director	$0	$0	$0
CHUCK ERICKSON	DIRECTOR	2.00	Director	$0	$0	$0
JASON FIELDS	DIRECTOR	2.00	Director	$0	$0	$0
TORI GERDING	DIRECTOR	2.00	Director	$0	$0	$0
MARC GLAZER	DIRECTOR	2.00	Director	$0	$0	$0
LAURA CULLEN HUIBREGTSE	DIRECTOR	2.00	Director	$0	$0	$0
HALLEY JONES	DIRECTOR	2.00	Director	$0	$0	$0
KEN LAMMERSFELD	DIRECTOR	2.00	Director	$0	$0	$0
TYLER LEEPER	DIRECTOR	2.00	Director	$0	$0	$0
JOE LOEHNIS	DIRECTOR	2.00	Director	$0	$0	$0
KEN MONTELEONE	DIRECTOR	2.00	Director	$0	$0	$0
SANDY MORALES	DIRECTOR	2.00	Director	$0	$0	$0
TRICIA NOLAN	DIRECTOR	2.00	Director	$0	$0	$0
MARI OLSON	DIRECTOR	2.00	Director	$0	$0	$0
ERIC ROTTIER	DIRECTOR	2.00	Director	$0	$0	$0
JUDD SCHEMMEL	DIRECTOR	2.00	Director	$0	$0	$0
MARC SHERRY	DIRECTOR	2.00	Director	$0	$0	$0
CAITLIN SUEMNICHT	DIRECTOR	2.00	Director	$0	$0	$0
AMY SUPPLE	DIRECTOR	2.00	Director	$0	$0	$0
BILL TISCHLER	DIRECTOR	2.00	Director	$0	$0	$0
NOBLE WRAY	DIRECTOR	2.00	Director	$0	$0	$0
ELLIE WESTMAN CHIN	PRESIDENT & CEO	40.00	Officer	$317,266	$31,757	$349,023
KATE DALE	EVP OF BRAND STRATEGY & COMMUNICATIONS	40.00	Highest	$142,453	$23,582	$166,035
JAMIE PATRICK	VP OF SALES, SPORTS & SERV	40.00	Highest	$154,879	$27,184	$182,063
BRIAN BORKOVEC	DIR OF HR & OPERATIONS	40.00	Highest	$106,692	$24,729	$131,421

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	$7,998,668	$7,696,283	$9,967,082	$302,385
2023	$7,273,844	$6,980,105	$9,919,550	$293,739
2022	$6,133,257	$6,609,622	$10,029,762	$-476,365
2021	$6,354,220	$4,408,787	$9,355,214	$1,945,433
2020	$4,933,152	$3,988,891	$7,711,633	$944,261
2019	$6,445,962	$6,081,503	$7,223,459	$364,459
2018	$5,535,858	$4,542,001	$6,223,849	$993,857

GREATER MADISON CONVENTION & VISITORS BUREAU INC