Putnam County Convention & Visitors

Nonprofit profile at a glance

EIN
200561519
IRS 990 coverage
2022–2023
Forms available
Form 990 2023, Form 990-EZ 2021
Location
Hurricane, WV, USA
Phone
3047577282
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Reported finances

Revenue
$249,104
Expenses
$255,009
Assets
$232,597
Liabilities
$2,232

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • DAVE GILPIN (PRESIDENT)

Highest reported compensation

  • KELLI M STEELE (EXECUTIVE DI): $50,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the putnam cvb is to attract visitors to the area and provide visitors with relevant information while in market, increasing the economic impact of visitors while helping those visitors have an enjoyable experience while in putnam county. Additionally, we work to strengthen the visitor economy through support of tourism related business.

What it reported doing in 2023

Visitor services - investment of additional funds to support visitors while in market with the goal of increasing visitor impact on the local economy. These expenses include things like interactive visitor kiosks that list events and promotions, and attractions. It also includes improvements to our mobile visitors center, used at large local events, and to our onsite visitor info center.

Operating model

Revenue model
Grant-funded. 99% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 90
  • Accountability: 63
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.9%; rating input score 78
  • Program expense ratio: 76%; rating input score 76
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.4%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.91; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 19.6%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 18.5% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 10.1% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 77.9% of revenue deployed · 76% of spending went to programs
  • Governance: 10 of 10 board members independent · 1 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $194K in reported program spending
  • Leadership: top reported pay $50K · 11 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2022 to 2023
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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 — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.