Greater Wilmington Convention & Vi… - 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

1980

Legal Domicile

Principal Officer

Jennifer Boes

Phone

3022952210

Tax Period

2024-07-01 to 2025-06-30

Greater Wilmington Convention & Visitors Bureau, founded in 1980, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $492K, a strong 21% operating margin.

Mission

To encourage economic development, while preserving quality of life, by systematically attracting visitors to Greater Wilmington for business and leisure, and putting them in touch with the Bureau members who can enhance their visitation experience.

Program Service Accomplishments

Program 1

As the destination marketing organization, the GWCVB's vision is to be the most comprehensive, convenient and best-known source of information for visitors, meeting planners and people wanting to...

As the destination marketing organization, the GWCVB's vision is to be the most comprehensive, convenient and best-known source of information for visitors, meeting planners and people wanting to relocate. We have a state-of-the-art website and produce a Visitor's Guide as part of our marketing tools to attract more visitors and business to the area.

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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 $2,198,717

Program Service Revenue $80,740

Investment Income $49,346

Other Revenue $21,047

TOTAL REVENUE $2,349,850

Expense Breakdown

Grants Paid $0

Salaries & Benefits $542,674

Fundraising Expenses $0

Other Expenses $1,314,986

TOTAL EXPENSES $1,857,660

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,349,850	$1,849,709	+0.3%
Expenses	$1,857,660	$1,816,966	+0.0%
Net Income	$492,190	$32,743	+14.0%

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

$130,808

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bill Sullivan CHTP	Chairman	5.00	Officer Director	$0	$0	$0
Celeste K Mozeik EdD	1st Vice Chair	2.00	Officer Director	$0	$0	$0
Halsey Spruance	2nd Vice Chair (until 5/25)	2.00	Officer Director	$0	$0	$0
John Sarro	Secretary	2.00	Officer Director	$0	$0	$0
Brad Wenger	Treasurer	3.00	Officer Director	$0	$0	$0
Steven R Chambliss	Mktg Comm Chair (until 4/25)	2.00	Officer Director	$0	$0	$0
Christopher Bell	Director	2.00	Director	$0	$0	$0
Tina Betz	Director	2.00	Director	$0	$0	$0
Deborah Buckson	Director	2.00	Director	$0	$0	$0
Italo Carrieri-Russo	Director	2.00	Director	$0	$0	$0
India Colon-Diaz	Director	2.00	Director	$0	$0	$0
Jeremy Costa	Director (from 10/24)	2.00	Director	$0	$0	$0
The Hon Dee Durham	Director	2.00	Director	$0	$0	$0
Gerald DuPhily	Director	2.00	Director	$0	$0	$0
Jennifer Oberle Howard	Director	2.00	Director	$0	$0	$0
Laura Jury	Director	2.00	Director	$0	$0	$0
Francis A Kwansa PhD	Director	2.00	Director	$0	$0	$0
James F Lardear	Director	2.00	Director	$0	$0	$0
The Hon Elizabeth Lockman	Director	2.00	Director	$0	$0	$0
Vicky Pettinaro Martelli	Director	2.00	Director	$0	$0	$0
Canon Patel	Director	2.00	Director	$0	$0	$0
Jamar Rahming	Director	2.00	Director	$0	$0	$0
Jon Sheehan	Director	2.00	Director	$0	$0	$0
Scott Stein	Director	2.00	Director	$0	$0	$0
Christopher Strang	Director	2.00	Director	$0	$0	$0
Quincy Watkins	Director	2.00	Director	$0	$0	$0
Jessica Welch	Director	2.00	Director	$0	$0	$0
James C Williams	Director	2.00	Director	$0	$0	$0
Jennifer Boes	Exec. Director	40.00	Officer	$98,113	$32,695	$130,808

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
2025	$2,349,850	$1,857,660	$1,736,687	$492,190
2024	$1,849,709	$1,816,966	$1,255,696	$32,743
2023	$2,248,502	$2,237,031	$1,228,281	$11,471
2022	$1,599,045	$1,383,255	$1,314,761	$215,790
2021	$935,586	$903,186	$1,235,264	$32,400
2020	$1,617,983	$1,351,288	$952,574	$266,695
2019	$1,807,209	$1,982,028	$700,372	$-174,819

Greater Wilmington Convention & Visitors Bureau