Greater Boston Convention & Visitors Bureau Inc

Nonprofit profile at a glance

EIN
042554943
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6175364100
Rating confidence
Limited

Official website

Reported finances

Revenue
$49,698,056
Expenses
$51,749,303
Assets
$37,852,543
Liabilities
$14,534,061

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

54 people listed

Executive titles in this filing

  • MARTHA SHERIDAN (PRESIDENT & CEO)
  • MILTON HERBERT (EXECUTIVE DIRECTOR)
  • HILINA AJAKAIYE (EXECUTIVE VICE PRESIDENT)
  • STEPHANIE PAPPAS (VICE PRESIDENT OF SPORTS/I)

Highest reported compensation

  • MARTHA SHERIDAN (PRESIDENT & CEO): $666,947 total reported compensation
  • MILTON HERBERT (EXECUTIVE DIRECTOR): $427,752 total reported compensation
  • HILINA AJAKAIYE (EXECUTIVE VICE PRESIDENT): $363,567 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The greater boston convention and visitors bureau, inc.'s mission is to elevate boston's vibrant neighborhoods and diverse people, amplifying their stories and sharing them locally and across the globe. We deliver exciting and inclusive programs and services that drive our local economy by unifying an eclectic range of community stakeholders around the opportunities, experiences and energy that define our destination and enhance our industry.

What it reported doing in 2024

The gbcvb is a not-for-profit organization which promotes and markets greater boston for the purpose of enhancing the overall economy through visitor development. The gbcvb's primary sources of revenues and support are government grants and contracts, marketing programs, tourism destination marketing district special assessments and membership dues. Gbcvb also generates revenues from promotional publications and other marketing projects.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 77
  • Accountability: 93
  • Sustainability: 26
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.7%; rating input score 96; 29th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.1%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 0.73; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 5.7%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 13.5% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 21.1% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 45 of 47 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $667K · 54 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 18/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.