VISITORS AND CONVENTION BUREAU OF … - 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

1996

Legal Domicile

Principal Officer

SUE FALASH

Phone

3607047544

Tax Period

2024-01-01 to 2024-12-31

VISITORS AND CONVENTION BUREAU OF THURSTON COUNTY, founded in 1996, is a community nonprofit in the Community Improvement sector that reported $1.4M in total revenue in fiscal year 2024.

Mission

WE STRENGTHEN THE REGION'S ECONOMY BY DEVELOPING MEANINGFUL EXPERIENCES AND PROMOTING TRAVEL TO VIBRANT THURSTON COUNTY.

Program Service Accomplishments

Program 1

PRODUCE AND DISTRIBUTE VISITORS AND CONVENTION BUREAU PUBLICATIONS.

Program 2

ADVERTISE THE REGION IN TRAVEL AND INDUSTRY PUBLICATIONS, BROADCAST MEDIA, AND THROUGH DIRECT SELLING TO INDUSTRY REPRESENTATIVES.

Program 3

HOST AN ANNUAL MEETING TO INFORM MEMBERS AND STAKEHOLDERS OF TRENDS AND ACTIVITY IN THE TOURISM MARKET.

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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 $180,366

Program Service Revenue $1,237,235

Investment Income $31,250

Other Revenue $-14,129

TOTAL REVENUE $1,434,722

Expense Breakdown

Grants Paid $17,301

Salaries & Benefits $699,022

Fundraising Expenses $0

Other Expenses $719,852

TOTAL EXPENSES $1,436,175

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,434,722	$1,379,093	+0.0%
Expenses	$1,436,175	$1,356,363	+0.1%
Net Income	$-1,453	$22,730	-1.1%

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

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

$141,549

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANNETTE PITTS	CEO	40.00	Officer	$141,549	$0	$141,549
PATTY BELMONTE	SECRETARY	1.00	Officer Director	$0	$0	$0
CHRISTINA DANIELS	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL DAVIDSON	DIRECTOR	1.00	Director	$0	$0	$0
CHUCK DENNEY	DIRECTOR	1.00	Director	$0	$0	$0
NIC DUNNING	DIRECTOR	1.00	Director	$0	$0	$0
SUE FALASH	PRESIDENT	1.00	Officer Director	$0	$0	$0
AMY EVANS HARDING	DIRECTOR	1.00	Director	$0	$0	$0
ANGELA JEFFERSON	DIRECTOR	1.00	Director	$0	$0	$0
HANFORD MCCLOUD	DIRECTOR	1.00	Director	$0	$0	$0
JILL NELSON	DIRECTOR	1.00	Director	$0	$0	$0
KYLE RADANOVIC	DIRECTOR	1.00	Director	$0	$0	$0
MIKE REID	DIRECTOR	1.00	Director	$0	$0	$0
LINE ROY	AT LARGE	1.00	Director	$0	$0	$0
SATPAL SOHAL	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
BRANDON STAFF	DIRECTOR	1.00	Director	$0	$0	$0
GREG TAYLOR	DIRECTOR	1.00	Director	$0	$0	$0
SHINA WYSOCKI	DIRECTOR	1.00	Director	$0	$0	$0

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	$1,434,722	$1,436,175	$1,224,851	$-1,453
2023	$1,379,093	$1,356,363	$1,242,802	$22,730
2022	$1,304,376	$1,340,783	$1,075,291	$-36,407
2021	$1,257,776	$1,020,438	$1,119,237	$237,338
2020	$1,140,102	$846,221	$868,952	$293,881
2019	$1,424,004	$1,260,602	$605,343	$163,402
2018	$1,227,207	$1,221,862	$455,908	$5,345

VISITORS AND CONVENTION BUREAU OF THURSTON COUNTY