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Professional Convention Management Association

Not tax-deductible

Chicago, IL501(c)(6)Since 1958EIN 36-2597526Revenue $20.3M in FY2024

On file with the IRSpcma.org200 E Randolph St, 60601-6436 · Chicago, ILTax-exempt since Feb 1967

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To promote the value of professional convention management.

Run by 154 volunteers and 64 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $237K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$3.8M
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$14.4M
82% of total assets
Concern: liabilities are 82% of assets; over 80%.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$20.3M
+9% vs prior year
Spent
$20.4M
Net assets
$3.2M
By yearFY2020–FY2024
Revenue
$20.3M
FY2024▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$15.0M
FY2021$11.5M
FY2022$13.1M
FY2023$18.6M
FY2024$20.3M
Expenses
$20.4M
FY2024▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$12.4M
FY2021$11.1M
FY2022$14.5M
FY2023$19.1M
FY2024$20.4M
Net assets
$3.2M
FY2024▲ +61%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.6M
FY2021$5.3M
FY2022$1.8M
FY2023$2.0M
FY2024$3.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1967.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

33 people listed on the 990; $3.8M paid to officers and key staff.

Part VII, Section A · reportable compensation
Sherrif Karamat
CEO & President
$841,782Pt VII · Sec A
Tusialofa Tauvaa
Chief Business Officer
$334,656Pt VII · Sec A
Howard Givner
SR VP of Knowledge
$312,835Pt VII · Sec A
Traci Depuy
Chief Marketing Officer
$294,502Pt VII · Sec A
Meredith Rollins
Chief Community Officer
$237,487Pt VII · Sec A
Mary Lynn Novelli
Bus. Development
$221,911Pt VII · Sec A
Bruce Macmillan
Chief Operating Officer
$193,907Pt VII · Sec A
Michelle Russell
Editor in Chief
$192,890Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Sherrif Karamat$841,782$829,448$825,471$692,576$547,913
Tusialofa Tauvaa$334,656$348,679———
Bruce Macmillan$193,907$312,450$339,241$317,893$243,025
Howard Givner$312,835$244,982———
Traci Depuy$294,502————
Mary Lynn Novelli$221,911$288,799$264,154$127,443$119,746
Meredith Rollins$237,487$256,133$249,532$238,447$202,430
Florence Chua—$242,156———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides educational events, networking opportunities, and advocacy to promote the value of professional convention management and business events.

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Provided by the organization

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3 programs · in their own filed words · FY2024
01

Education Conference Business Events

This program provides educational and networking opportunities for pcma members and others in the business events industry. The event promotes the value of business events.

Pt IX · col B
02

Covening Leaders Business Events

This program provides educational and networking opportunities for pcma members and other in the business event industry. The event promotes the value of business events.

Pt IX · col B
03

Cema Summit

This program provides educational and networking opportunities for pcma corporate members and others in the business events industry. The event promotes the value of business events

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
Foundation of the Professional Convention Management AssoFY2020$200K
Total grants receivedfrom 1 funder$200K
Grants paid · 1 grant · $10K · 2022–2022
American National Red Cross & Its Constituent Chapters and BranchesDC · FY2022$10,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$20.3M
Ln 12
Fees for servicesLn 2g$19.3M
Other incomeLn 4–11$412K
Investment incomeLn 3$291K
Money outPt IX
$20.4M
Ln 25
Owns and owesPt X
$3.2M
net assets · Ln 32
Cash and savingsLn 1–2$4.6M
Total assetsLn 16$17.6M
LiabilitiesLn 26$14.4M
PeoplePt VI, VII
33
listed · VII A
PaidVII A15
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$258K
Noncash giftsLn 1g$28K
Fees for servicesLn 2g$19.3M
Investment incomeLn 3$291K
Other incomeLn 4–11$412K
Gains on assetsLn 7$186K
Total revenueLn 12$20.3M
Assets in detailPt X, end of year
CashLn 1$2.1M
SavingsLn 2$2.4M
Cash and savings togetherLn 1–2$4.6M
InvestmentsLn 11–13$4.6M
Land, buildings, equipmentLn 10c$930K
Other assetsLn 15$1.5M
Total assetsLn 16$17.6M
LiabilitiesLn 26$14.4M
Net assetsLn 32$3.2M
OperationsPt I, VI
EmployeesI 564
VolunteersI 6154
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.3M$4.6M
InvestmentsLn 11–13$5.6M$4.6M
Land, buildings, equipmentLn 10c$869K$930K
Total assetsLn 16$18.1M$17.6M
LiabilitiesLn 26$16.1M$14.4M
Net assetsLn 32$2.0M$3.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K
Pay of current officers, directors and key staffLn 5$3.3M
Other salaries and wagesLn 7$4.1M
Pension plan contributionsLn 8$222K
Other employee benefitsLn 9$586K
Payroll taxesLn 10$537K
Management feesLn 11a$901K
Legal feesLn 11b$58K
Accounting feesLn 11c$120K
Investment management feesLn 11f$32K
Other fees for servicesLn 11g$971K
Advertising and promotionLn 12$189K
Office expensesLn 13$92K
Information technologyLn 14$681K
OccupancyLn 16$449K
TravelLn 17$1.1M
Conferences, conventions and meetingsLn 19$5.1M
InterestLn 20$98K
Depreciation, depletion and amortizationLn 22$309K
InsuranceLn 23$85K
Other expenses (24a–d)Ln 24$760K
All other expensesLn 24e$653K
Total functional expensesLn 25$20.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $20.3M$20.4M−$123K$3.2M 990 PDF
FY2023 $18.6M$19.1M−$439K$2.0M 990 PDF
FY2022 $13.1M$14.5M−$1.4M$1.8M 990 PDF
FY2021 $11.5M$11.1M$457K$5.3M 990 PDF
FY2020 $15.0M$12.4M$2.6M$5.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $20,251,428 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $288,039$257,588
I-9 Program service revenuePrior year $17,279,406$19,291,157
I-10 Investment incomePrior year $593,149$290,892
I-11 Other revenuePrior year $481,454$411,791
I-12 Total revenuePrior year $18,642,048$20,251,428
I-13 Grants and similar amounts paidPrior year $20,738$2,365
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $7,373,434$8,774,850
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,687,095$11,597,280
I-18 Total expensesPrior year $19,081,267$20,374,495
I-19 Revenue less expensesPrior year −$439,219−$123,067
Part VI · Governance 18 of 18 board members independent, no flags
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $20,251,428 across 9 lines filed
Lines not itemized here account for $208,991 of total revenue; see the IRS return.
VIII-1d Related organizations$230,000
VIII-1f All other contributions, gifts and grants$27,588
VIII-1g Noncash contributions (included above)$27,588
VIII-1h Total contributions, gifts and grants$257,588
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $16,726,836 · Unrelated business $2,564,321$19,291,157
VIII-3 Investment incomeExcluded from tax $105,106$105,106
VIII-7 Net gain or loss on sales of assetsExcluded from tax $185,786$185,786
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $202,800$202,800
VIII-12 Total revenueRelated to mission $16,726,836 · Unrelated business $2,564,321 · Excluded from tax $702,683$20,251,428
Part IX · Statement of functional expenses $20,374,495 across 22 lines filed
IX-1 Grants to domestic organizations$2,365
IX-5 Pay of current officers, directors and key staff$3,327,952
IX-7 Other salaries and wages$4,102,472
IX-8 Pension plan contributions$221,610
IX-9 Other employee benefits$585,947
IX-10 Payroll taxes$536,869
IX-11a Management fees$901,355
IX-11b Legal fees$58,415
IX-11c Accounting fees$119,736
IX-11f Investment management fees$32,091
IX-11g Other fees for services$971,233
IX-12 Advertising and promotion$189,452
IX-13 Office expenses$91,855
IX-14 Information technology$680,681
IX-16 Occupancy$448,571
IX-17 Travel$1,117,342
IX-19 Conferences, conventions and meetings$5,081,736
IX-20 Interest$97,742
IX-22 Depreciation, depletion and amortization$308,683
IX-23 Insurance$84,628
IX-24 Other expenses (24a–d)$760,420
IX-24e All other expenses$653,340
IX-25 Total functional expenses$20,374,495
Part X · Balance sheet $17,557,672 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $1,117,357$2,131,047
X-2 Savings and temporary cash investmentsStart of year $147,983$2,437,210
X-4 Accounts receivableStart of year $5,021,359$2,867,733
X-8 Inventories for sale or useStart of year $28,182$16,394
X-9 Prepaid expenses and deferred chargesStart of year $566,128$2,002,262
X-10c Land, buildings and equipment, netStart of year $868,870$930,264
X-11 Publicly traded securitiesStart of year $5,092,526$4,062,976
X-13 Program-related investmentsStart of year $526,000$524,372
X-14 Intangible assetsStart of year $670,672$1,090,732
X-15 Other assetsStart of year $4,069,674$1,494,682
X-16 Total assetsStart of year $18,108,751$17,557,672
X-17 Accounts payable and accrued expensesStart of year $2,412,135$2,285,523
X-19 Deferred revenueStart of year $10,124,237$8,476,308
X-25 Other liabilitiesStart of year $3,592,229$3,616,366
X-26 Total liabilitiesStart of year $16,128,601$14,378,197
X-27 Net assets without donor restrictionsStart of year $1,980,150$3,179,475
X-32 Total net assets or fund balancesStart of year $1,980,150$3,179,475
X-33 Total liabilities and net assetsStart of year $18,108,751$17,557,672
Part XI · Reconciliation of net assets $3,179,475 net assets at year end
XI-1 Total revenue$20,251,428
XI-2 Total expenses$20,374,495
XI-3 Revenue less expenses−$123,067
XI-4 Net assets at start of year$1,980,150
XI-5 Net unrealized gains (losses) on investments$123,069
XI-8 Prior period adjustments$1,199,323
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,179,475

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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