Tempe Convention and Visitors Bureau In

What it reported doing in 2024

Our sports marketing efforts include marketing tempe to new sports rights holders and working with our existing events to ensure they are successful. The goal of marketing in this segment is to generate room nights from both sports participants and their fan base. This is an important market because individual athletes and team sports attendees use multiple hotels over the weekends, travel to tempe during need periods and tend to be recession proof. They also tend to be annual events which helps our hotel partners predict their available room inventory in advance. In fy24/25 we recorded 26 sports bookings, 6,049 room nights booked and 7,902 attendees. Based on our conversion formula for the sports market, we received an estimated economic impact of $18,327,342. Our group marketing efforts include marketing tempe to meeting and event planners and working with our booked programs to ensure they are successful. The goal of marketing in this segment is to generate room nights from corporate, association, social, military, educational, religious and fraternal meetings and events. This is an important market because many of our hotels rely on group business for increased room nights and food and beverage sales. Hotels also find this valuable as they can better plan for the year ahead knowing when large groups will be in-house at their property giving them the ability to focus attention on selling non-booked room nights in advance. In fy 24/25 we recorded 128 group bookings, 22,749 room nights booked and 12,338 attendees. Based on our conversion formula for the group market, we received an estimated economic impact of $27,319,595.

Financial Efficiency

• Mission deployment rate: 87.1%; rating input score 87
• Program expense ratio: 89.2%; rating input score 89
• Fundraising efficiency: $88.89 raised per $1 spent on fundraising; rating input score 85; 85th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 2.5%; rating input score 43; 43rd percentile among comparable filings
• Total-asset coverage ratio: 0.28; rating input score 8; 8th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
• Officer compensation ratio: 8.6%; rating input score 35; 35th percentile among comparable filings

Growth

• Program expense growth: 9.4% per year; rating input score 100; 62nd percentile among comparable filings
• Revenue growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
• Asset growth: 10.1% per year; rating input score 100; 59th percentile among comparable filings