Visit Grand Rapids INC FY2022 filing

Cohasset, MNUnknown exempt organizationSince 1983 EIN 41-1458087Revenue $424K in FY2022

On file with the IRSvisitgrandrapids.com22504 Old Trapper Rd · Cohasset, MN

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Promoting economic development through travel and tourism in the Grand Rapids area

94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $19K a year · 4% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
6 mo
of spending, in cash
Looks good: 6.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$17K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 8 voting members
Concern: none of 8 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$424K
-14% vs prior year
Spent
$453K
To programs
94%
Net assets
$386K
By yearFY2020–FY2025
Revenue
$424K
FY2022▼ -14%
Tap a bar for its year
Revenue by fiscal year
FY2020$460K
FY2021$494K
FY2022$424K
FY2023$490K
FY2024$476K
FY2025$478K
Expenses
$453K
FY2022▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$437K
FY2021$422K
FY2022$453K
FY2023$431K
FY2024$443K
FY2025$521K
Net assets
$386K
FY2022▼ -9%
Tap a bar for its year
Net assets by fiscal year
FY2020$297K
FY2021$426K
FY2022$386K
FY2023$464K
FY2024$515K
FY2025$493K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $424K Management & general 6% · $29K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Past President
$0Pt VII · Sec A
Secretary/Treas
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Borad Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Visit Grand Rapids INC executive salaries →

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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 15aNo

Programs and updates

Promotes economic growth by developing travel and tourism in the Grand Rapids area.

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1 program · $442K · in their own filed words · FY2022
01

Visit grand rapids writes and coordinates the execution of a comprehensive tourism marketing plan to promote the community as a tourism, convention and business travel destination.

$442Kprogram expense

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$424K
Ln 12
Fees for servicesLn 2g$428K
Investment incomeLn 3$5
Money outPt IX
$453K
Ln 25
Programscol B$424K
Managementcol C$29K
Owns and owesPt X
$386K
net assets · Ln 32
Cash and savingsLn 1–2$226K
Total assetsLn 16$403K
LiabilitiesLn 26$17K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$428K
Investment incomeLn 3$5
Gains on assetsLn 7−$4K
Total revenueLn 12$424K
Assets in detailPt X, end of year
CashLn 1$226K
SavingsLn 2$0
Cash and savings togetherLn 1–2$226K
InvestmentsLn 11–13$175K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$1K
Total assetsLn 16$403K
LiabilitiesLn 26$17K
Net assetsLn 32$386K
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$260K$226K
InvestmentsLn 11–13$187K$175K
Land, buildings, equipmentLn 10c$4K$0
Total assetsLn 16$454K$403K
LiabilitiesLn 26$28K$17K
Net assetsLn 32$426K$386K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$98K$78K$20K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$3K$2K$585
Payroll taxesLn 10$8K$6K$2K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$7K$6K$1K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$200$160$40
Advertising and promotionLn 12$281K$281K
Office expensesLn 13$3K$3K$630
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$8K$7K$2K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$2K$2K$393
Other expenses (24a–d)Ln 24$32K$31K$671
All other expensesLn 24e$11K$9K$2K
Total functional expensesLn 25$453K$424K$29K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $478K$521K−$43K$493K 990 PDF
FY2024 $476K$443K$33K$515K 990 PDF
FY2023 $490K$431K$60K$464K 990 PDF
FY2022 Viewing $424K$453K−$29K$386K 990 PDF
FY2021 $494K$422K$72K$426K 990 PDF
FY2020 $460K$437K$23K$297K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $423,897 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $494,084$427,990
I-10 Investment income−$4,093
I-11 Other revenue$0
I-12 Total revenuePrior year $494,084$423,897
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $118,930$108,102
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $303,253$344,408
I-18 Total expensesPrior year $422,183$452,510
I-19 Revenue less expensesPrior year $71,901−$28,613
Part VI · Governance 0 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $423,897 across 8 lines filed
Lines not itemized here account for $1,500 of total revenue; see the IRS return.
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $426,490$426,490
VIII-3 Investment incomeRelated to mission $5$5
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission −$4,098−$4,098
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $423,897$423,897
Part IX · Statement of functional expenses $452,510 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $78,028 · Management $19,507$97,535
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $2,341 · Management $585$2,926
IX-10 Payroll taxesPrograms $6,113 · Management $1,528$7,641
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $5,886 · Management $1,471$7,357
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $160 · Management $40$200
IX-12 Advertising and promotionPrograms $280,916$280,916
IX-13 Office expensesPrograms $2,520 · Management $630$3,150
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $6,682 · Management $1,671$8,353
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $1,570 · Management $393$1,963
IX-24 Other expenses (24a–d)Programs $30,861 · Management $671$31,532
IX-24e All other expensesPrograms $8,750 · Management $2,187$10,937
IX-25 Total functional expensesPrograms $423,827 · Management $28,683 · Fundraising $0$452,510
Part X · Balance sheet $403,047 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $260,030$226,262
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $4,098$0
X-11 Publicly traded securitiesStart of year $187,113$175,414
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $2,298$1,371
X-16 Total assetsStart of year $453,539$403,047
X-17 Accounts payable and accrued expensesStart of year $6,767$1,586
X-24 Unsecured notes and loans payableStart of year $20,833$15,834
X-26 Total liabilitiesStart of year $27,600$17,420
X-32 Total net assets or fund balancesStart of year $425,939$385,627
X-33 Total liabilities and net assetsStart of year $453,539$403,047
Part XI · Reconciliation of net assets $385,627 net assets at year end
XI-1 Total revenue$423,897
XI-2 Total expenses$452,510
XI-3 Revenue less expenses−$28,613
XI-4 Net assets at start of year$425,939
XI-5 Net unrealized gains (losses) on investments−$11,699
XI-10 Net assets at end of year$385,627

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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