ROCHESTER MINNESOTA CONVENTION AND VISITORS BUREAU (EIN 411625680) - Form 990 Financial Analysis & Trantor Score

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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

1988

Legal Domicile

Principal Officer

JOSEPH T WARD

Phone

5072884331

Tax Period

2023-01-01 to 2023-12-31

ROCHESTER MINNESOTA CONVENTION AND VISITORS BUREAU, founded in 1988, is a mid-sized nonprofit that reported $11.9M in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

THE ROCHESTER CONVENTION & VISITORS BUREAU STIMULATES ECONOMIC GROWTH THROUGH VISITOR SPENDING WITH AGGRESSIVE SALES, MARKETING, PARTNERSHIPS AND DESTINATION DEVELOPMENT STRATEGIES WHILE FACILITATING THE BEST POSSIBLE VISITOR EXPERIENCE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $4,154,600

Program Service Revenue $7,432,400

Investment Income $2,069

Other Revenue $313,723

TOTAL REVENUE $11,902,792

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,599,598

Fundraising Expenses $0

Other Expenses $9,864,686

TOTAL EXPENSES $12,464,284

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,902,792	$10,988,617	+0.1%
Expenses	$12,464,284	$11,636,562	+0.1%
Net Income	$-561,492	$-647,945	-0.1%

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

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

$226,629

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACOB MALWITZ	CHAIR	1.50	Officer Director	$0	$0	$0
JAY STOYLES	DIRECTOR	1.50	Director	$0	$0	$0
JESS HEMENWAY	DIRECTOR	1.50	Director	$0	$0	$0
WILLIAM WIKTOR	TREASURER	1.00	Officer Director	$0	$0	$0
JOSEPH T WARD	PRESIDENT	40.00	Officer	$188,851	$37,778	$226,629
MELISSA WILES	SENIOR NATIONAL SALES MANAGER	40.00	Highest	$114,099	$16,312	$130,411
WILLIAM VON BANK	VICE PRESIDENT OF MARKETING AND COMMUNICATION	40.00	Highest	$139,311	$30,033	$169,344
DEANNA MEYER	CHIEF OF STAFF	40.00	Highest	$124,947	$22,179	$147,126
NICK LANDRY	VICE PRESIDENT OF ADMINISTRATION	40.00	Highest	$121,059	$9,370	$130,429
ANGIE RICHARDS	VICE PRESIDENT OF SALES	40.00	Highest	$141,965	$10,891	$152,856

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	No data	No data	No data	No data
2023	$11,902,792	$12,464,284	$3,051,249	$-561,492
2022	$10,988,617	$11,636,562	$4,650,057	$-647,945
2021	$6,781,864	$6,938,482	$3,813,150	$-156,618
2020	$6,134,775	$5,165,329	$3,435,551	$969,446
2019	$3,074,246	$2,715,514	$1,372,651	$358,732
2018	$2,901,429	$2,874,589	$1,263,562	$26,840

ROCHESTER MINNESOTA CONVENTION AND VISITORS BUREAU