FINANCIAL STATEMENTS: MERCER COUNTY CONVENTION AND VISITORS BUREAU, INC. FOR THE MONTH ENDED JULY 31, 2026

Contents

Accountants’ Compilation Report
Statement of Assets, Liabilities and Net Assets – Tax Basis
Statements of Revenues and Expenses – Tax Basis
Statements of Changes in Net Assets – Tax Basis
Statements of Revenues and Expenses – Tax Basis
Statement of Changes in Net Assets – Tax Basis
Statements of Revenues and Expenses – Tax Basis

Accountants’ Compilation Report

Mercer County Convention and Visitors Bureau, Inc. For the month ended June 30, 2026

To the Board of Directors
Mercer County Convention and Visitors Bureau, Inc.
Bluefield, WV

Management is responsible for the accompanying financial statements of Mercer County Convention and Visitors Bureau, Inc. (a nonprofit organization), which comprise the statement of assets, liabilities and net assets – tax basis as of June 30, 2026 and 2025 and the related statements of revenues and expenses – tax basis, statements of expenses – tax basis and statement of changes in net assets – tax basis for the periods then ended, and for determining that the tax basis of accounting is an acceptable financial reporting framework. We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or review the financial statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on these financial statements.

The financial statements are prepared in accordance with the tax basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United States of America.

Management has elected to omit substantially all of the disclosures ordinarily included in financial statements prepared in accordance with the tax basis of accounting. If the omitted disclosures were included in the financial statements, they might influence the user’s conclusions about the Organization’s assets, liabilities, net assets, revenues and expenses. Accordingly, the financial statements are not designed for those who are not informed about such matters.

The accompanying budgeted information of Mercer County Convention and Visitors Bureau, Inc. for the year ended December 31, 2026, has not been compiled or examined by us, and, accordingly, we do not express an opinion or other form of assurance on it.

Management has elected to omit the summaries of significant assumptions and accounting policies required under established guidelines for presentation of prospective financial statements. If the omitted summaries were included in the budgeted information, they might influence the user’s conclusions about the Organization’s budgeted information. Accordingly, the budgeted information is not designed for those who are not informed about such matters.

We are not independent with respect to Mercer County Convention and Visitors Bureau, Inc.

Henry H. Jones, CPA, PLLC
Bluefield, West Virginia
March 26, 2026

Statement of Assets, Liabilities and Net Assets – Tax Basis

Mercer County Convention and Visitors Bureau, Inc. As of July 31, 2026

Cash and Cash Equivalents

Cash and Cash Equivalents	July 31, 2026	July 31, 2025
Burke & Herbert Bank	$244,817.60	$245,309.03
Cash on hand	–	$400.00
First Community Bank MM Checking	$200,782.85	$223,116.12
WV Money Market Pool	$281,824.15	$270,787.86
Total Cash and Cash Equivalents	$727,424.60	$739,613.01
Inventory	$1,591.88

Property and Equipment

Property and Equipment, before depreciation	July 31, 2026	July 31, 2025
Buildings	$6,322.90	$6,322.90
Equipment	$46,610.90	$151,081.14
Furniture and Fixtures	$36,325.93	$29,230.11
Leasehold Improvements	$12,083.29	–
Total Property and Equipment, Before Depreciation	$101,343.02	$186,634.15
Accumulated Depreciation	$(63,898.48)	$(122,461.24)
Net Property and Equipment	$37,444.54	$64,172.91
Total Assets	$766,461.02	$803,785.92

Liabilities and Net Assets

Liabilities	July 31, 2026	July 31, 2025
Credit cards payable	$3,547.99	$2,304.46
Sales tax payable	$1.47	–
Total Liabilities	$3,549.46	$2,304.46

Net Assets	July 31, 2026	July 31, 2025
Net assets without donor restrictions	$762,911.56	$801,481.46
Total Net Assets	$762,911.56	$801,481.46
Total Liabilities and Net Assets	$766,461.02	$803,785.92

Statements of Revenues and Expenses – Tax Basis

Mercer County Convention and Visitors Bureau, Inc. As of July 31, 2026

Support and Revenues

Support and Revenues	July 2026	% OF REVENUES	July 2025	% OF REVENUES
Hotel tax – Bluefield	$5,491.94	8.21%	$11,702.00	9.28%
Hotel tax – Bramwell	–	–	$581.18	0.46%
Hotel tax – Mercer County	$61,316.58	91.71%	$112,615.70	89.32%
Hotel tax – Princeton	$41.74	0.06%	$1,178.47	0.93%
Tourism merchandise sales, net	$10.49	0.02%	–	–
Total Support and Revenues	$66,860.75	100.00%	$126,077.35	100.00%

Expenses

Marketing and Advertising Expenses	July 2026	% OF REVENUES	July 2025	% OF REVENUES
Branded merchandise	$1,009.12	1.51%	$(198.00)	-0.16%
Contracted campaigns	$35,198.73	52.64%	$13,510.92	10.72%
Contracted content marketing	–	–	$69.34	0.05%
Contracted creative agencies	$17,125.68	25.61%	$8,034.00	6.37%
Contracted print materials	–	–	$1,451.54	1.15%
Contracted public relations	$5,250.00	7.85%	$10,500.00	8.33%
Marketing-miscellaneous	$2,610.97	3.91%	$5,227.41	4.15%
Media Trips	$4,714.24	7.05%	$330.40	0.26%
Postage expense	$1,145.58	1.71%	$588.55	0.47%
Total Marketing and Advertising Expenses	$67,054.32	100.29%	$39,514.16	31.34%

Payroll expenses	July 2026	% OF REVENUES	July 2025	% OF REVENUES
Salaries and wages	$12,928.20	19.34%	$12,612.80	10.00%
Payroll taxes	$1,000.91	1.50%	$979.31	0.78%
Employee pension plan	$2,781.00	4.16%	$1,058.47	0.84%
Payroll fees	$560.68	0.84%	$90.95	0.07%
Total Payroll expenses	$17,270.82	25.83%	$14,741.53	11.69%

Administrative Expenses	July 2026	% OF REVENUES	July 2025	% OF REVENUES
Communications expense	$663.07	0.99%	$1,047.62	0.83%
Depreciation expense	$611.59	0.91%	$2,186.09	1.73%
Dues and subscriptions	$1,167.40	1.75%	$809.65	0.64%
Equipment rental	$302.14	0.45%	–	–
Legal and accounting expenses	$11,450.00	17.13%	$2,000.00	1.59%
Meals	$77.78	0.12%	$126.36	0.10%
Miscellaneous expenses	$1.10	0.00%	–	–
Office renovations	$350.64	0.52%	–	–
Office supplies	$491.16	0.73%	$293.35	0.23%
Rent expense	$2,000.00	2.99%	$1,500.00	1.19%
Repairs and maintenance	$132.36	0.20%	–	–
Taxes and licenses, misc.	$8.33	0.01%	$8.21	0.01%
Travel expenses	$1,158.92	1.73%	$1,994.72	1.58%
Utilities	$135.67	0.20%	–	–
Total Administrative Expenses	$18,550.16	27.74%	$9,966.00	7.90%

Total Expenses	July 2026	% OF REVENUES	July 2025	% OF REVENUES
Expenses	$102,875.30	153.87%	$64,221.69	50.94%
Other Income (expenses)
Interest income	$1,571.39	2.35%	$1,709.06	1.36%
Total other income	$1,571.39	2.35%	$1,709.06	1.36%
Total other income (expenses)	$1,571.39	2.35%	$1,709.06	1.36%
Net Change in Net Assets Without Donor Restrictions	$(34,443.16)	-51.51%	$63,564.72	50.42%

Statement of Changes in Net Assets – Tax Basis

Mercer County Convention and Visitors Bureau, Inc. As of July 31, 2026

Net Assets Without Donor Restrictions

Net Assets Without Donor Restrictions	July 2026	July 2025
Net Assets Without Donor Restrictions, Beginning	$797,354.72	$737,916.74
Net Change in Net Assets Without Donor Restrictions	$(34,443.16)	$63,564.72
Net Assets Without Donor Restrictions, Ending	$762,911.56	$801,481.46

Statements of Revenues and Expenses – Tax Basis

Mercer County Convention and Visitors Bureau, Inc. As of July 31, 2026

Support and Revenues

Support and Revenues	JAN-JUL 2026	% OF REVENUES	JAN-JUL 2025	% OF REVENUES
Hotel tax – Bluefield	$26,639.74	7.58%	$39,713.77	10.23%
Hotel tax – Bramwell	$1,969.28	0.56%	$1,613.64	0.42%
Hotel tax – Mercer County	$321,017.01	91.32%	$343,186.56	88.41%
Hotel tax – Princeton	$1,882.31	0.54%	$3,661.32	0.94%
Tourism merchandise sales, net	$10.49	0.00%	–	–
Total Support and Revenues	$351,518.83	100.00%	$388,175.29	100.00%

Expenses

Marketing and Advertising Expenses	July 2026	% OF REVENUES	July 2025	% OF REVENUES
Branded merchandise	$1,009.12	0.29%	$8,953.85	2.31%
Contracted campaigns	$58,956.29	16.77%	$72,063.68	18.56%
Contracted content marketing	$5,111.76	1.45%	$5,569.34	1.43%
Contracted creative agencies	$85,038.38	24.19%	$98,826.68	25.46%
Contracted print materials	$22,165.81	6.31%	$53,426.32	13.76%
Contracted public relations	$32,775.00	9.32%	$45,613.10	11.75%
Contracted research and data	$10,100.00	3.55%	–	–
Contracted WV co-ops	$4,999.60	1.42%	$8,564.43	2.21%
Marketing -miscellaneous	$4,688.34	1.33%	$9,996.00	2.58%
Media trips	$7,593.48	2.16%	$2,516.97	0.65%
Postage expense	$6,500.14	1.85%	$2,473.58	0.64%
Visual marketing platforms (Crowdriff)	–	–	$6,360.00	1.64%
Total Marketing and Advertising Expenses	$238,937.92	67.97%	$314,363.95	80.99%

Payroll expenses	JAN-JUL 2026	% OF REVENUES	JAN-JUL 2025	% OF REVENUES
Salaries and wages	$93,371.78	26.56%	$90,104.84	23.21%
Payroll taxes	$7,710.54	2.19%	$7,492.43	1.93%
Employee pension plan	$8,395.20	2.39%	$8,981.03	2.31%
Contract labor expense	–	–	$267.50	0.10%
Payroll fees	$3,070.90	0.87%	$533.93	0.14%
Total Payroll expenses	$112,548.42	32.02%	$107,379.73	27.66%

Administrative Expenses	JAN-JUL 2026	% OF REVENUES	JAN-JUL 2025	% OF REVENUES
Administrative expense	$70.64	0.02%	$2,134.85	0.55%
Communications expense	$4,586.86	1.30%	$4,420.65	1.14%
Depreciation expense	$14,083.13	4.01%	$15,302.47	3.94%
Dues and subscriptions	$8,434.58	2.40%	$7,024.99	1.81%
Employee training	$707.57	0.20%	$1,169.50	0.30%
Equipment purchases <=$1,000	$1,365.28	0.39%	–	–
Equipment rental	$1,514.35	0.43%	$763.15	0.20%
Insurance – general	$1,341.00	0.38%	$2,652.00	0.68%
Legal and accounting expenses	$22,700.00	6.46%	$17,350.00	4.47%
Meals	$883.11	0.25%	$1,312.44	0.34%
Miscellaneous expenses	$88.81	0.03%	$1,488.82	0.38%
Office renovations	$548.31	0.16%	–	–
Office supplies	$2,267.93	0.65%	$1,511.23	0.39%
Rent expense	$14,000.00	3.98%	$10,500.00	2.70%
Repairs and maintenance	$3,124.12	0.89%	$707.22	0.18%
Taxes and licenses, misc.	$100.55	0.03%	$233.15	0.06%
Travel expenses	$5,485.15	1.56%	$10,478.63	2.70%
Utilities	$2,416.98	0.69%	$1,054.62	0.27%
Total Administrative Expenses	$83,728.37	23.82%	$78,103.72	20.12%
Total Expenses	$435,214.71	123.81%	$499,847.40	128.77%

Other Income (Expenses)	JAN-JUL 2026	% OF REVENUES	JAN-JUL 2025	% OF REVENUES
Interest Income	$10,649.98	3.03%	$11,705.86	3.02%
Gain(loss) on sale of assets	$3,105.95	0.88%	–	–
Total Other Income	$13,755.93	3.91%	$11,705.86	3.02%
Total Other Income (Expenses)	$13,755.93	3.91%	$11,705.86	3.02%
Net Change in Net Assets Without Donor Restrictions	$(69,939.95)	-19.90%	$(99,966.25)	-25.75%

Statement of Changes in Net Assets – Tax Basis

Mercer County Convention and Visitors Bureau, Inc. As of July 31, 2026

Net Assets Without Donor Restrictions

Net Assets Without Donor Restrictions	JAN-JUL 2026	JAN-JUL 2025
Net Assets Without Donor Restrictions, Beginning	$832,851.51	$901,447.71
Net Change in Net Assets Without Donor Restrictions	$(39,939.95)	$(99,966.25)
Net Assets Without Donor Restrictions, Ending	$762,911.56	$801,481.46

Statements of Revenues and Expenses – Tax Basis

Mercer County Convention and Visitors Bureau, Inc. As of July 31, 2026

Support and Revenues

Support and Revenues	JAN-JUL 2026	2026 OVERALL BUDGET	VARIANCE
Hotel tax – Bluefield	$26,639.74	$70,000.00	$(43,360.26)
Hotel tax – Bramwell	$1,969.28	$3,000.00	$(1,030.72)
Hotel tax – Mercer County	$321,017.01	$702,000.00	$(380,982.99)
Hotel tax – Princeton	$1,882.31	$5,000.00	$(3,117.69)
Tourism merchandise sales net	$10.49	–	$10.49
Total Support and Revenues	$351,518.83	$780,000.00	$(428,481.17)

Expenses

Marketing and Advertising Expenses	JAN-JUL 2026	2026 OVERALL BUDGET	VARIANCE
Branded merchandise	$1,009.12	$6,400.00	$(5,390.88)
Contracted campaigns	$58,956.29	$110,000.00	$(51,043.71)
Contracted content marketing	$5,111.76	$2,000.00	$3,111.76
Contracted creative agencies	$85,038.38	$135,480.00	$(50,441.62)
Contracted print materials	$22,165.81	$35,000.00	$(12,834.19)
Contracted public relations	$32,775.00	$60,000.00	$(27,225.00)
Contracted research and data	$10,100.00	$10,000.00	$100.00
Contracted WV co-ops	$4,999.60	$15,000.00	$(10,000.40)
Event calendars (ITI Digital)	–	$6,500.00	$(6,500.00)
Marketing – miscellaneous	$4,688.34	$6,720.00	$(2,031.66)
Media trips	$7,593.48	$10,000.00	$(2,406.52)
Postage expense	$6,500.14	$5,000.00	$1,500.14
Total Marketing and Advertising Expenses	$238,937.92	$402,100.00	$(163,162.08)

Payroll expenses	JAN-JUL 2026	2026 OVERALL BUDGET	VARIANCE
Salaries and wages	$93,371.78	$174,480.00	$(81,108.22)
Payroll taxes	$7,710.54	$14,220.00	$(6,509.46)
Employee pension plan	$8,395.20	$15,710.00	$(7,314.80)
Payroll fees	$3,070.90	$2,050.00	$1,020.90
Total Payroll expenses	$112,548.42	$206,460.00	$(93,911.58)

Administrative Expenses	JAN-JUL 2026	2026 OVERALL BUDGET	VARIANCE
Administrative expense	$70.64	$2,200.00	$(2,129.36)
Communications expense	$4,586.86	$8,000.00	$(3,413.14)
Depreciation expense	$14,083.13	$26,000.00	$(11,916.87)
Dues and subscriptions	$8,434.58	$11,800.00	$(3,365.42)
Employee training	$707.57	$4,500.00	$(3,792.43)
Equipment purchases<=$1,000	$1,365.28	$1,000.00	$365.28
Equipment rental	$1,514.35	$1,600.00	$(85.65)
Insurance – general	$1,341.00	$9,600.00	$(8,259.00)
Legal and accounting expenses	$22,700.00	$29,000.00	$(6,300.00
Meals	$883.11	$5,000.00	$(4,116.89)
Miscellaneous expenses	$88.81	$3,000.00	$(2,911.19)
Office renovations	$548.31	$40,000.00	$(39,451.69)
Office supplies	$2,267.93	$4,000.00	$(1,732.07)
Rent expense	$14,000.00	$24,000.00	$(10,000.00)
Repairs and maintenance	$3,124.12	$2,400.00	$1724.12
Taxes and licenses, misc.	$110.55	$740.00	$(629.45)
Travel expenses	$5,485.15	$15,000.00	$(9,514.85)
Utilities	$2,416.98	$4,000.00	$(1,583.02)
Total Administrative Expenses	$83,728.37	$191,840.00	$(108,111.63)
Total Expenses	$435,214.71	$800,400.00	$(365,185.29)

Other Income (Expenses)	JAN-JUL 2026	2026 OVERALL BUDGET	VARIANCE
Interest income	$10,649.98	$20,400.00	$(9,750.02)
Gain(loss) on sale of assets	$3,105.95	–	$3,105.95
Total Other Income	$13,755.93	$20,400.00	$(6,644.07)
Total Other Income (Expenses)	$13,755.93	$20,400.00	$(6,644.07)
Net Change in Net Assets Without Donor Restrictions	$(69,939.95)	–	$(69,939.95)

Last updated: September 17, 2026