RED WING VISITOR & CONVENTION BUREAU

EIN: 411759188

RED WING, MN

Total Revenue
$336,567
Total Expenses
$274,376
Total Assets
$196,921
Net Assets
$194,196
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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
1994
Legal Domicile
MN
Principal Officer
CHELSEA LOCKREM
Phone
6513855934
Tax Period
2024-01-01 to 2024-12-31

RED WING VISITOR & CONVENTION BUREAU, founded in 1994, is a small nonprofit that reported $337K in total revenue in fiscal year 2024. The organization ran a surplus of $62K, a strong 18% operating margin.

Mission

TO ENCOURAGE BUSINESS AND LEISURE TRAVELERS TO CHOOSE RED WING AS A YEAR-ROUND CULTURAL, RECREATIONAL AND MEETING DESTINATION.

Program Service Accomplishments

Program 1

THIS ORGANIZATION PROMOTES TOURISM AND CONVENTION TRADE IN RED WING. THE MARKETING PLAN INCLUDES GENERAL MARKETING, INDIVIDUAL LEISURE, GROUP LEISURE TRAVEL AND GROUP BUSINESS TRAVEL. ASSIST IN...

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THIS ORGANIZATION PROMOTES TOURISM AND CONVENTION TRADE IN RED WING. THE MARKETING PLAN INCLUDES GENERAL MARKETING, INDIVIDUAL LEISURE, GROUP LEISURE TRAVEL AND GROUP BUSINESS TRAVEL. ASSIST IN BRINGING MOTOR COACH TOUR GROUPS TO RED WING AS WELL AS MULTI-DAY MEETINGS, CONVENTIONS AND EVENT BUSINESS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $10,000
Program Service Revenue $301,058
Investment Income $4,326
Other Revenue $21,183
TOTAL REVENUE $336,567

Expense Breakdown

Grants Paid $0
Salaries & Benefits $122,520
Fundraising Expenses $0
Other Expenses $151,856
TOTAL EXPENSES $274,376

Year-over-Year Comparison

2024 2023 Change
Revenue $336,567 $332,766 +0.0%
Expenses $274,376 $433,287 -0.4%
Net Income $62,191 $-100,521 -1.6%
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

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Governance

Voting Members
10
Independent Members
10
Employees
4
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
$87,250
Total Directors
10
$87,250
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVE MURPHY DIRECTOR 0.50
Director
$0 $0 $0
CHELSEA LOCKREM PRESIDENT 0.50
Officer Director
$0 $0 $0
MARLYS BRULEY SECRETARY 0.50
Officer Director
$0 $0 $0
MICHELLE TIGHE DIRECTOR 0.50
Director
$0 $0 $0
MATT HANDY DIRECTOR 0.50
Director
$0 $0 $0
JAMES PLUCKER TREASURER 0.50
Director
$0 $0 $0
SHELLY ORR DIRECTOR 0.50
Director
$0 $0 $0
BRYAN SOPER VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
DONALD KLIEWER DIRECTOR 0.50
Director
$0 $0 $0
JENNIFER OLSON EXECUTIVE DIRECTOR 40.00
Officer Director
$87,250 $0 $87,250
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 $336,567 $274,376 $196,921 $62,191
2023 $332,766 $433,287 $134,072 $-100,521
2022 $390,917 $394,804 $235,093 $-3,887
2021 $323,390 $336,592 $239,539 $-13,202
2020 $210,852 $276,372 $243,006 $-65,520
2019 $308,108 $310,559 $321,140 $-2,451
2018 $273,758 $263,036 $322,455 $10,722
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