Eagan Convention & Visitors Bureau

Not tax-deductible

Eagan, MN501(c)(4)Community DevelopmentEIN 41-2016053Revenue $1.3M in FY2024

On file with the IRSeaganmn.com1501 Central Pkwy, 55121-1756 · Eagan, MNTax-exempt since May 2002

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Eagan cvb exists to develop and administer programs to advance the economic impact of tourism and Convention business in Eagan, MN.

86¢ of each $1 spent went to programs.
Run by 30 volunteers and 5 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · 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)(4)
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
4 of 5
filings with a surplus
Average surplus $200K a year · 18% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$107K
to officers and key staff · 10% of spending
Top officer’s pay lower than 77% of similar orgs
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
16 mo
of spending, in cash
Looks good: 15.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$77K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
-2% vs prior year
Spent
$1.1M
To programs
86%
Net assets
$1.6M
By yearFY2020–FY2024
Revenue
$1.3M
FY2024▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2020$588K
FY2021$898K
FY2022$1.4M
FY2023$1.3M
FY2024$1.3M
Expenses
$1.1M
FY2024▼ -10%
Tap a bar for its year
Expenses by fiscal year
FY2020$740K
FY2021$702K
FY2022$822K
FY2023$1.2M
FY2024$1.1M
Net assets
$1.6M
FY2024▲ +19%
Tap a bar for its year
Net assets by fiscal year
FY2020$400K
FY2021$596K
FY2022$1.1M
FY2023$1.3M
FY2024$1.6M

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 May 2002.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $913K Management & general 14% · $149K

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

10 people listed on the 990; $107K paid to officers and key staff.

Part VII, Section A · reportable compensation
President/Ce
$106,643Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Brent Cory’s $107K as President/Ce is at the 23rd percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Brent Cory$106,643$102,544$99,468$98,124$103,702

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

Promotes tourism and convention business to boost Eagan's economy.

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3 programs · $913K · in their own filed words · FY2024
01

Advertising

Media purchases the eagan convention and visitors bureau currently works to aggressively promote eagan, minnesota as a major conference, meeting, and tourist destination which includes media buys (radio, television, print and digital).

$611Kprogram expense
02

Promotions

Ad specialty items ecvb provides the eagan CVBS pick your package promotion which was marketed to leisure travel prospects throughout the midwest and canada. A total of 25,000 visitors guides and 25,000 corresponding coupon books were also printed and utilized to market eagan as a destination to markets throughout the midwest and canada.

$253Kprogram expense
03

Trade shows promote eagan to group tour operators throughout the nation by attending the annual american bus association conference.

$49Kprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.3M
Ln 12
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$11K
Other incomeLn 4–11$3K
Money outPt IX
$1.1M
Ln 25
Programscol B$913K
Managementcol C$149K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$1.6M
LiabilitiesLn 26$77K
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$11K
Other incomeLn 4–11$3K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$1.2M
SavingsLn 2$252K
Cash and savings togetherLn 1–2$1.4M
Land, buildings, equipmentLn 10c$63K
Total assetsLn 16$1.6M
LiabilitiesLn 26$77K
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 55
VolunteersI 630
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$965K$1.4M
Land, buildings, equipmentLn 10c$63K
Total assetsLn 16$1.4M$1.6M
LiabilitiesLn 26$93K$77K
Net assetsLn 32$1.3M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$107K$83K$23K
Other salaries and wagesLn 7$151K$118K$33K
Other employee benefitsLn 9$40K$32K$9K
Payroll taxesLn 10$24K$19K$5K
Legal feesLn 11b$390$390
Accounting feesLn 11c$27K$27K
Other fees for servicesLn 11g$12K$9K$3K
Advertising and promotionLn 12$532K$532K
Office expensesLn 13$14K$11K$3K
OccupancyLn 16$50K$39K$11K
TravelLn 17$11K$11K
Conferences, conventions and meetingsLn 19$2K$2K$149
Depreciation, depletion and amortizationLn 22$2K$1K$233
InsuranceLn 23$7K$5K$1K
Other expenses (24a–d)Ln 24$65K$33K$32K
All other expensesLn 24e$17K$17K$764
Total functional expensesLn 25$1.1M$913K$149K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.3M$1.1M$251K$1.6M 990 PDF
FY2023 $1.3M$1.2M$163K$1.3M 990 PDF
FY2022 $1.4M$822K$540K$1.1M 990 PDF
FY2021 $898K$702K$196K$596K 990 PDF
FY2020 $588K$740K−$152K$400K 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 $1,312,978 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $1,325,908$1,298,467
I-10 Investment incomePrior year $4,262$11,340
I-11 Other revenuePrior year $10,533$3,171
I-12 Total revenuePrior year $1,340,703$1,312,978
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $320,249$322,314
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $857,430$739,528
I-18 Total expensesPrior year $1,177,679$1,061,842
I-19 Revenue less expensesPrior year $163,024$251,136
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $1,312,978 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,298,467$1,298,467
VIII-3 Investment incomeExcluded from tax $11,340$11,340
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,171$3,171
VIII-12 Total revenueRelated to mission $1,301,638 · Excluded from tax $11,340$1,312,978
Part IX · Statement of functional expenses $1,061,842 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $83,182 · Management $23,461$106,643
IX-7 Other salaries and wagesPrograms $117,693 · Management $33,195$150,888
IX-9 Other employee benefitsPrograms $31,502 · Management $8,885$40,387
IX-10 Payroll taxesPrograms $19,029 · Management $5,367$24,396
IX-11b Legal feesPrograms $390$390
IX-11c Accounting feesManagement $26,898$26,898
IX-11g Other fees for servicesPrograms $9,270 · Management $2,614$11,884
IX-12 Advertising and promotionPrograms $531,868$531,868
IX-13 Office expensesPrograms $11,082 · Management $3,126$14,208
IX-16 OccupancyPrograms $39,240 · Management $11,068$50,308
IX-17 TravelPrograms $11,060$11,060
IX-19 Conferences, conventions and meetingsPrograms $2,207 · Management $149$2,356
IX-22 Depreciation, depletion and amortizationPrograms $1,328 · Management $233$1,561
IX-23 InsurancePrograms $5,279 · Management $1,489$6,768
IX-24 Other expenses (24a–d)Programs $32,680 · Management $32,083$64,763
IX-24e All other expensesPrograms $16,700 · Management $764$17,464
IX-25 Total functional expensesPrograms $912,510 · Management $149,332 · Fundraising $0$1,061,842
Part X · Balance sheet $1,626,813 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $965,023$1,150,858
X-2 Savings and temporary cash investments$251,703
X-4 Accounts receivableStart of year $419,881$159,661
X-9 Prepaid expenses and deferred chargesStart of year $7,197$2,017
X-10c Land, buildings and equipment, net$62,574
X-16 Total assetsStart of year $1,392,101$1,626,813
X-17 Accounts payable and accrued expensesStart of year $93,112$76,688
X-26 Total liabilitiesStart of year $93,112$76,688
X-27 Net assets without donor restrictionsStart of year $1,298,989$1,550,125
X-32 Total net assets or fund balancesStart of year $1,298,989$1,550,125
X-33 Total liabilities and net assetsStart of year $1,392,101$1,626,813
Part XI · Reconciliation of net assets $1,550,125 net assets at year end
XI-1 Total revenue$1,312,978
XI-2 Total expenses$1,061,842
XI-3 Revenue less expenses$251,136
XI-4 Net assets at start of year$1,298,989
XI-10 Net assets at end of year$1,550,125

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

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