Visit Grand Rapids INC FY2024 filing

Cohasset, MNUnknown exempt organizationSince 1983 EIN 41-1458087Revenue $476K in FY2024

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

97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2024 · 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
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
8 mo
of spending, in cash
Looks good: 8.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$476K
-3% vs prior year
Spent
$443K
To programs
97%
Net assets
$515K
By yearFY2020–FY2025
Revenue
$476K
FY2024▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2020$460K
FY2021$494K
FY2022$424K
FY2023$490K
FY2024$476K
FY2025$478K
Expenses
$443K
FY2024▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$437K
FY2021$422K
FY2022$453K
FY2023$431K
FY2024$443K
FY2025$521K
Net assets
$515K
FY2024▲ +11%
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 FY2024 Form 990 · see the original

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You’re viewing the FY2024 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

97 cents of each dollar spent went to programs.

Program services 97% · $432K Management & general 3% · $12K

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
Board Member
$0Pt VII · Sec A
Past President
$0Pt VII · Sec A
Secretary/Treas
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$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 · $432K · in their own filed words · FY2024
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.

$432Kprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$476K
Ln 12
Fees for servicesLn 2g$466K
Gifts and grantsLn 1h$10K
Money outPt IX
$443K
Ln 25
Programscol B$432K
Managementcol C$12K
Owns and owesPt X
$515K
net assets · Ln 32
Cash and savingsLn 1–2$309K
Total assetsLn 16$521K
LiabilitiesLn 26$6K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Government grantsLn 1e$10K
Fees for servicesLn 2g$466K
Gains on assetsLn 7$0
Total revenueLn 12$476K
Assets in detailPt X, end of year
CashLn 1$309K
SavingsLn 2$0
Cash and savings togetherLn 1–2$309K
InvestmentsLn 11–13$212K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$1
Total assetsLn 16$521K
LiabilitiesLn 26$6K
Net assetsLn 32$515K
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 FY24End FY24
Cash and savingsLn 1–2$281K$309K
InvestmentsLn 11–13$194K$212K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$475K$521K
LiabilitiesLn 26$11K$6K
Net assetsLn 32$464K$515K
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$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$5K$4K$987
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$435$348$87
Advertising and promotionLn 12$362K$362K
Office expensesLn 13$676$541$135
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$900$720$180
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$1K$962$240
Other expenses (24a–d)Ln 24$65K$58K$7K
All other expensesLn 24e$8K$5K$3K
Total functional expensesLn 25$443K$432K$12K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $478K$521K−$43K$493K 990 PDF
FY2024 Viewing $476K$443K$33K$515K 990 PDF
FY2023 $490K$431K$60K$464K 990 PDF
FY2022 $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 FY2024 990 (6 parts)
Part I · Summary $476,386 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $19,350$10,000
I-9 Program service revenuePrior year $471,022$466,386
I-10 Investment incomePrior year $112$0
I-11 Other revenue$0
I-12 Total revenuePrior year $490,484$476,386
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $27,083$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $403,462$443,295
I-18 Total expensesPrior year $430,545$443,295
I-19 Revenue less expensesPrior year $59,939$33,091
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $476,386 across 9 lines filed
VIII-1e Government grants$10,000
VIII-1h Total contributions, gifts and grants$10,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $466,386$466,386
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $466,386$476,386
Part IX · Statement of functional expenses $443,295 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 wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $3,949 · Management $987$4,936
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $348 · Management $87$435
IX-12 Advertising and promotionPrograms $362,438$362,438
IX-13 Office expensesPrograms $541 · Management $135$676
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $720 · Management $180$900
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 $962 · Management $240$1,202
IX-24 Other expenses (24a–d)Programs $57,700 · Management $6,991$64,691
IX-24e All other expensesPrograms $4,936 · Management $3,081$8,017
IX-25 Total functional expensesPrograms $431,594 · Management $11,701 · Fundraising $0$443,295
Part X · Balance sheet $520,858 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $280,986$309,077
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, net$0
X-11 Publicly traded securitiesStart of year $193,683$211,780
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$1
X-16 Total assetsStart of year $474,669$520,858
X-24 Unsecured notes and loans payableStart of year $10,833$5,833
X-26 Total liabilitiesStart of year $10,833$5,833
X-32 Total net assets or fund balancesStart of year $463,836$515,025
X-33 Total liabilities and net assetsStart of year $474,669$520,858
Part XI · Reconciliation of net assets $515,025 net assets at year end
XI-1 Total revenue$476,386
XI-2 Total expenses$443,295
XI-3 Revenue less expenses$33,091
XI-4 Net assets at start of year$463,836
XI-5 Net unrealized gains (losses) on investments$18,098
XI-10 Net assets at end of year$515,025

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

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