Music City Inc
- Assets
- $1.8m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 08/2006
- Data as of
- 06/2022
- EIN
- 34-2064764
Organization Overview
Music City Inc is located in Nashville, TN. The organization was established in 2006. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, 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. Music City 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 06/2022, Music City Inc generated $7.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $7.8m during the year ending 06/2022. While expenses have increased by 2.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE THE MUSIC ENVIRONMENT OF NASHVILLE BY PROVIDING MUSIC-RELATED EVENTS AND SERVICES TO THE GENERAL PUBLIC AND TO THE METROPOLITAN GOVERNMENT OF NASHVILLE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCED THE ANNUAL PUBLIC NEW YEAR'S EVE EVENT - NASHVILLE'S BIG BASH, PROVIDING FREE LIVE MUSIC AND FIREWORKS FOR THE GENERAL PUBLIC TO BRING THE CITY TOGETHER AND CELEBRATE THE TRANSITION INTO THE NEW YEAR.
PRODUCED THE ANNUAL FREE PUBLIC JULY 4TH CONCERT AND FIREWORKS DISPLAY ON BEHALF OF THE CITY OF NASHVILLE AT RIVERFRONT PARK IN DOWNTOWN NASHVILLE.
ON A TEMPORARY BASIS, WHILE THE FORMAL HOST COMMITTEE WAS BEING ESTABLISHED, THE REPORTING ORGANIZATION SERVED AS THE FISCAL AGENT FOR THE LOCAL EFFORTS TO ATTRACT A MAJOR NATIONAL PRESIDENTIAL NOMINATING CONVENTION TO THE CITY. THE FUNDING FOR THE ACTIVITY CAME FROM THE PRIVATE CONTRIBUTIONS INTO THE ORGANIZATION. NO LOCAL GOVERNMENT-SOURCED FUNDING WENT TO THIS EFFORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Spyridon Board Member/president | OfficerTrustee | 8 | $0 |
Deana Ivey Board Member | OfficerTrustee | 8 | $0 |
Jeff Mefford Board Member/cfo | OfficerTrustee | 8 | $0 |
Laura Hollingsworth Board Member | Trustee | 1 | $0 |
Doug Kreulen Board Member | Trustee | 1 | $0 |
Mary Arnold Board Member | Trustee | 8 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Moo Tv Video Equipment And Production Svcs | 6/29/22 | $345,689 |
Pyro Shows Pyrotechnic Services | 6/29/22 | $345,500 |
Premier Global Production Co Stage Equipment Rental Services | 6/29/22 | $319,200 |
Crew One Productions Stage Construction Labor Services | 6/29/22 | $291,973 |
Dude Inc Musical Artist Performance Services | 6/29/22 | $300,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $876,892 |
| Government grants | $5,584,510 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,246,394 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,707,796 |
| Total Program Service Revenue | $222,652 |
| Investment income | $56 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,930,504 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,987 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $76,214 |
| Advertising and promotion | $0 |
| Office expenses | $5,077 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $19,542 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,541,749 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,210 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,819,041 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $156,974 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,311 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,568,209 |
| Net Land, buildings, and equipment | $99,354 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,837,848 |
| Accounts payable and accrued expenses | $252,224 |
| Grants payable | $0 |
| Deferred revenue | $1,115,869 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,368,093 |
| Net assets without donor restrictions | $469,755 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,837,848 |
Grants Awarded
Over the last fiscal year, Music City Inc has awarded $138,654 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
METROPOLITAN GOVERNMENT OF NASHVILLE PURPOSE: To assist the city government in their response to the COVID pandemic, the reporting organization provided on-site meals to the health and OEM staffs to allow them to continue to work straight through their days while they served the community. | $94,154 |
TENNESSEE STATE TROOPERS ASSOCIATION PURPOSE: In recognition of the work of the members of this law enforcement agency to mitigate the loss of life and investigate the perpetrator of the Christmas Day bombing in downtown Nashville, a portion of the private donations raised were donated to this police benevolent organization. | $22,250 |
METROPOLITAN NASHVILLE POLICE DEPARTMENT PURPOSE: In recognition of the work of the members of this law enforcement agency to mitigate the loss of life and investigate the perpetrator of the Christmas Day bombing in downtown Nashville, a portion of the private donations raised were donated to this police benevolent organization. | $22,250 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Music City Inc has recieved totaling $20,878.
| Awarding Organization | Amount |
|---|---|
Edward Charles Foundation Beverly Hills, CA PURPOSE: CHARITABLE GIFT | $10,000 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $5,878 |
Skynyrd Foundation Nashville, TN PURPOSE: GENERAL PURPOSE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Coalition To Salute Americas Heroes Foundation Leesburg, VA | $3,573,595 | $8,478,376 |
Center Of Creative Arts Saint Louis, MO | $22,497,336 | $9,712,696 |
Music City Inc Nashville, TN | $1,837,848 | $7,930,504 |
Crosstown Arts Memphis, TN | $38,457,214 | $4,680,625 |
John C Campbell Folk School Brasstown, NC | $20,488,128 | $4,524,565 |
Kranzberg Arts Foundation St Louis, MO | $18,112,007 | $6,602,930 |
Cafe 1040 Inc Alpharetta, GA | $1,445,364 | $4,184,740 |
Association Of American Voices Saint Louis, MO | $696,688 | $3,487,679 |
Memphis Equity Through Arts Meta Incorporated Memphis, TN | $5,874,530 | $7,164,597 |
Appalshop Inc Whitesburg, KY | $8,650,033 | $2,149,775 |
Memphis In May International Festival Inc Memphis, TN | $4,677,503 | $2,273,583 |
Safe States Alliance Atlanta, GA | $855,123 | $2,462,301 |