Terms of 2018 trade show deal are confidential, but initial impact is visible in IRS Form 990; ‘Obviously, you can see the numbers’
Jan. 7, 2020
By William Ehart
The National Restaurant Association received quite a windfall from the sale of its trade show to media, events and data company Winsight in 2018. Retiring CEO Dawn Sweeney will pass an organization to her as-yet-unnamed successor with a significantly altered financial landscape.
Some of the funds could be used to make acquisitions, Chief Operating Officer Terry Erdle told CEO Update.
Terms of the deal are confidential, but score one for Uncle Sam and public disclosure: The association reflected, as required, the initial impact of the transaction in its 2018 IRS Form 990.
The precise sales figure is unknown because the proceeds are included with other money under a subcategory of investment income, but it’s in the ballpark of $170 million.