EAGAN CONVENTION & VISITORS BUREAU

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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

2002

Legal Domicile

Principal Officer

BRENT CORY

Phone

6516755546

Tax Period

2023-01-01 to 2023-12-31

EAGAN CONVENTION & VISITORS BUREAU, founded in 2002, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2023. Expenses of $1.2M left a modest 12% surplus.

Mission

EAGAN CVB EXISTS TO DEVELOP AND ADMINISTER PROGRAMS TO ADVANCE THE ECONOMIC IMPACT OF TOURISM AND CONVENTION BUSINESS IN EAGAN, MN.

Program Service Accomplishments

Program 1

Expenses: $690,434 Revenue: $887,147

ADVERTISING - MEDIA PURCHASES THE EAGAN CONVENTION AND VISITORS BUREAU CURRENTLY WORKS TO AGGRESSIVELY PROMOTE ALL OF EAGANS HOTELS, RESTAURANTS AND ATTRACTIONS TO AN EIGHT- STATE REGION WHICH...

ADVERTISING - MEDIA PURCHASES THE EAGAN CONVENTION AND VISITORS BUREAU CURRENTLY WORKS TO AGGRESSIVELY PROMOTE ALL OF EAGANS HOTELS, RESTAURANTS AND ATTRACTIONS TO AN EIGHT- STATE REGION WHICH INCLUDES MEDIA BUYS (RADIO, TELEVISION, PRINT AND DIGITAL), IN 14 REGIONAL MARKETS. IN ADDITION TO GENERATING A GREATER ECONOMIC IMPACT FOR EAGAN, THE BUREAUS EFFORTS HAVE HELPED THE COMMUNITYS 20 HOTELS GENERATE AN OCCUPANCY RATE OF 50.98% WITH A CORRESPONDING AVERAGE DAILY ROOM RATE OF 87.43.

Program 2

Expenses: $286,312 Revenue: $367,885

PROMOTIONS - AD SPECIALTY ITEMS A TOTAL OF 397 ROOMS WITH AN AVERAGE DAILY RATE OF 153.79 WERE BOOKED THROUGH THE EAGAN CVBS PICK YOUR PACKAGE PROMOTION WHICH WAS MARKETED TO LEISURE TRAVEL PROSPECTS THROUGHOUT THE MIDWEST AND CANADA. A TOTAL OF 25,000 VISITORS GUIDES AND 25,000 CORRESPONDING COUPON BOOKS WERE ALSO PRINTED AND UTILIZED TO MARKET EAGAN AS A DESTINATION TO MARKETS THROUGHOUT THE MIDWEST AND CANADA.

Program 3

Expenses: $55,161 Revenue: $70,876

TRADE SHOWS DUE TO THE PANDEMIC, OUR TRADE SHOW EXPOSURE WAS SIGNIFICANTLY CURTAILED GIVEN THE TRAVEL RESTRICTIONS AND CANCELLATIONS WHICH WERE TAKING PLACE, BUT WE STILL MANAGED TO PROMOTE EAGAN TO GROUP TOUR OPERATORS THROUGHOUT THE NATION BY ATTENDING THE ANNUAL AMERICAN BUS ASSOCIATION CONFERENCE DOWN IN GRAPEVINE, TX.

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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 $0

Program Service Revenue $1,325,908

Investment Income $4,262

Other Revenue $10,533

TOTAL REVENUE $1,340,703

Expense Breakdown

Grants Paid $0

Salaries & Benefits $320,249

Fundraising Expenses $0

Program Expenses $1,031,907

Other Expenses $857,430

TOTAL EXPENSES $1,177,679

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,340,703	$1,361,696	0.0%
Expenses	$1,177,679	$821,577	+0.4%
Net Income	$163,024	$540,119	-0.7%

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

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

$102,544

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
YURI BATES	BOARD MEMBER	2.00	Director	$0	$0	$0
DAN BURNS	BOARD MEMBER	2.00	Director	$0	$0	$0
JON ALTHOFF	BOARD MEMBER	2.00	Director	$0	$0	$0
TONY DONATELL	PAST BOARD C	2.00	Director	$0	$0	$0
BRENT GLASHAN	BOARD MEMBER	2.00	Director	$0	$0	$0
JILL HUTMACHER	BOARD MEMBER	2.00	Director	$0	$0	$0
MAYOR MIKE MAGUIRE	BOARD MEMBER	2.00	Director	$0	$0	$0
DOUG MELNYK	BOARD CHAIR	4.00	Director	$0	$0	$0
JASON JOHNSON	BOARD MEMBER	2.00	Director	$0	$0	$0
BETTY WETHERELL-GUSTAFSON	BOARD MEMBER	2.00	Officer Director	$0	$0	$0
BRENT CORY	PRESIDENT/CE	40.00	Officer	$102,544	$0	$102,544

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	$1,340,703	$1,177,679	$1,392,101	$163,024
2022	$1,361,696	$821,577	$1,215,035	$540,119
2021	$897,902	$702,271	$797,947	$195,631
2020	$588,071	$739,854	$518,114	$-151,783
2019	$1,116,543	$1,075,536	$654,608	$41,007
2018	$1,043,793	$1,049,406	$592,625	$-5,613