The Loretta Lynn Foundation Inc
- Assets
- $1.3m
- Revenue
- $141.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 05/2006
- Data as of
- 12/2021
- EIN
- 20-2029176
Organization Overview
The Loretta Lynn Foundation Inc is located in Nashville, TN. The organization was established in 2006. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loretta Lynn Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Loretta Lynn Foundation Inc generated $141.1k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $149.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE COUNTRY MUSIC'S HERITAGE AND HISTORY IN A CHARITABLE MANNER FOR HISTORICAL AND CULTURAL PURPOSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patsy Lynn Russell Vice-President | 0 | $0 | |
Loretta Lynn President | 0 | $0 | |
Michael Vaden Treasurer | 0 | $0 | |
Timothy W Cobb Member Of Board | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $67,719 |
| Other Income | $73,333 |
| Total Revenue | $141,052 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $60,593 |
| Pension plans, employee benefits | $750 |
| Interest | $0 |
| Taxes | $6,888 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $10 |
| Printing and publications | $0 |
| Other expenses | $80,509 |
| Total operating and administrative expenses | $149,788 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $149,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,388 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $24,252 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,279,786 |
| Other assets | $0 |
| Total assets | $1,335,426 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Loretta Lynn Foundation Inc has recieved totaling $8.
| Awarding Organization | Amount |
|---|---|
The Duke Energy Foundation Charlotte, NC PURPOSE: EMPLOYEE MATCHING GIFTS | $8 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thomas Jefferson Foundation Inc Charlottesville, VA | $395,493,786 | $54,038,606 |
Missouri Historical Society Jefferson Memorial Building St Louis, MO | $154,816,775 | $36,156,227 |
Navy Seal Foundation Inc Virginia Beach, VA | $115,540,390 | $24,207,052 |
Union Station Kansas City Inc Kansas City, MO | $67,441,549 | $27,511,678 |
Lorraine Civil Rights Museum Foundation Memphis, TN | $35,843,207 | $14,748,460 |
The National Museum Of African American Music Nashville, TN | $43,131,276 | $9,233,015 |
Shakertown At Pleasant Hill Kentucky Inc Harrodsburg, KY | $23,439,163 | $8,870,243 |
National Infantry Museum Foundation Inc Columbus, GA | $75,263,880 | $5,605,336 |
Montpelier Foundation Orange, VA | $32,791,745 | $7,244,660 |
North Carolina Transportation Museum Foundation Spencer, NC | $11,455,078 | $7,616,895 |
Old Salem Incorporated Winstonsalem, NC | $81,707,076 | $3,795,190 |
Owsley Brown Frazier Historical Arms Museum Foundation Inc Louisville, KY | $43,112,750 | $4,338,107 |