Country Music Foundation Inc
- Assets
- $152.0m
- Revenue
- $57.1m
- Investments
- $299.5k
- Employees
- 474
- Location
- Nashville, TN
- Founding
- 12/1964
- Data as of
- 12/2023
- EIN
- 62-0753887
Organization Overview
Country Music Foundation Inc, operating under the name Country Music Hall Of Fame And Museu, is located in Nashville, TN. The organization was established in 1964. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Country Music Hall Of Fame And Museu employed 474 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Country Music Hall Of Fame And Museu 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 12/2023, Country Music Hall Of Fame And Museu generated $57.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $43.1m during the year ending 12/2023. While expenses have increased by 4.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
IDENTIFY & PRESERVE THE EVOLVING HISTORY & TRADITIONS OF COUNTRY MUSIC & TO EDUCATE ITS AUDIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDED IN 1967, THE COUNTRY MUSIC FOUNDATION, INC. ("CMF"), WHICH DOES BUSINESS AS THE COUNTRY MUSIC HALL OF FAME AND MUSEUM (THE "MUSEUM"), IS A NOT-FOR-PROFIT EDUCATIONAL INSTITUTION THAT PRESERVES AND INTERPRETS THE EVOLVING HISTORY AND TRADITIONS OF COUNTRY MUSIC. FUNCTIONING AS A NATIONAL HISTORY MUSEUM AND AS AN INTERNATIONAL ARTS ORGANIZATION WITH OVER 1.6 MILLION ANNUAL VISITORS IN A TYPICAL YEAR, THE MUSEUM SAFEGUARDS A DIVERSE ARTIFACT AND ARCHIVAL COLLECTION COMPRISED OF MOVING IMAGES ON FILM; VIDEO AND DIGITAL FORMATS; PHOTOGRAPHS; SOUND RECORDINGS; ORAL HISTORY INTERVIEWS; STAGE COSTUMES; MUSICAL INSTRUMENTS; POSTERS; PRINTED MATERIALS; OBJECTS ILLUSTRATING THE LIVES AND CAREERS OF MUSICIANS, INDUSTRY FIGURES AND THE CULTURE OF COUNTRY MUSIC. THROUGH 20 EXHIBITS CURATED AND PRESENTED, THE MUSEUM INTERPRETS ITS COLLECTION WITH SUPPORT OF THE MORE THAN 1,275 ON-SITE AND VIRTUAL EDUCATIONAL PROGRAMS IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Ann Mccready Board Chair | OfficerTrustee | 8 | $0 |
Al Giombetti Executive Vice President | OfficerTrustee | 2 | $0 |
David Ross Secretary | OfficerTrustee | 2 | $0 |
Ernest Williams III Treasurer | OfficerTrustee | 2 | $0 |
Mark Bloom Trustee | Trustee | 1 | $0 |
David Conrad Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Please Be Seated Event Rentals | 12/30/23 | $756,726 |
Event Works Event Rentals | 12/30/23 | $1,029,673 |
Frantz Building Services Housekeeping | 12/30/23 | $627,844 |
United Data Technologies It Equip & Support | 12/30/23 | $576,169 |
Garda World Security Services Security Services | 12/30/23 | $529,906 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $182,302 |
| Related organizations | $0 |
| Government grants | $1,547,492 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,205,785 |
| Noncash contributions included in lines 1a–1f | $170,375 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,935,579 |
| Total Program Service Revenue | $44,786,510 |
| Investment income | $2,090,610 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,391 |
| Net Income from Fundraising Events | -$156,084 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,607,651 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $57,143,980 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,690,566 |
| Compensation of current officers, directors, key employees. | $422,643 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,463,561 |
| Pension plan accruals and contributions | $180,038 |
| Other employee benefits | $878,159 |
| Payroll taxes | $1,249,088 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $80,337 |
| Fees for services: Accounting | $47,912 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $72,690 |
| Fees for services: Other | $668,062 |
| Advertising and promotion | $1,630,495 |
| Office expenses | $1,846,984 |
| Information technology | $1,124,840 |
| Royalties | $0 |
| Occupancy | $3,068,676 |
| Travel | $103,557 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,115 |
| Interest | $327,723 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,716,607 |
| Insurance | $0 |
| All other expenses | $838,163 |
| Total functional expenses | $43,095,448 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,910,137 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $327,492 |
| Accounts receivable, net | $1,051,708 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,784,123 |
| Prepaid expenses and deferred charges | $527,372 |
| Net Land, buildings, and equipment | $45,114,304 |
| Investments—publicly traded securities | $59,336,020 |
| Investments—other securities | $299,532 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,697,688 |
| Total assets | $152,048,376 |
| Accounts payable and accrued expenses | $3,788,801 |
| Grants payable | $0 |
| Deferred revenue | $2,308,269 |
| 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 | $300,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,299,889 |
| Total liabilities | $23,696,959 |
| Net assets without donor restrictions | $123,872,167 |
| Net assets with donor restrictions | $4,479,250 |
| 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 | $152,048,376 |