Country Music Foundation Inc
- Assets
- $103.5m
- Revenue
- $14.2m
- Investments
- $0.0
- Employees
- 365
- Location
- Nashville, TN
- Founding
- 12/1964
- Data as of
- 12/2020
- 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 12/2021, Country Music Hall Of Fame And Museu employed 365 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 12/2020, Country Music Hall Of Fame And Museu generated $14.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.6%) each year. All expenses for the organization totaled $26.3m during the year ending 12/2020. 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
2020
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 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 THAT TRADITIONALLY WELCOMES 1.3 MILLION ANNUAL VISITORS AND 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 AT LEAST TEN ANNUAL EXHIBITS, THE MUSEUM INTERPRETS ITS COLLECTION WITH SUPPORT OF ANNUAL EDUCATIONAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kyle Young CEO | Officer | 55 | $676,562 |
Martina Burghard Sr. VP Financial Services | Officer | 55 | $243,905 |
Lisa Davis Sr. VP External Affairs | Officer | 55 | $193,878 |
Mark DE Lelys VP Revenue | Officer | 40 | $193,147 |
Hernando Rodriguez Sr. Director Of Events & C | Officer | 40 | $185,455 |
Johnny Cunningham S. Director Of Information & Technology Operations | 40 | $148,239 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lifeblue Inc Website Design And Support Services | 12/30/21 | $460,123 |
Allied Universal Security Service Security Services | 12/30/21 | $437,528 |
Frantz Building Services Inc Cleaning Services | 12/30/21 | $426,343 |
Gupta Media Holdings Llc Digital Advertising And Social Media | 12/30/21 | $260,668 |
Bedroc Inc Information Technology Support And Servi | 12/30/21 | $222,425 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,756,608 |
| Investment income | $366,991 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,789 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,041,134 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,152,198 |
| Statement of Expenses | |
|---|---|
| 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. | $1,224,894 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,683,432 |
| Pension plan accruals and contributions | $162,889 |
| Other employee benefits | $832,681 |
| Payroll taxes | $836,659 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $120,997 |
| Fees for services: Accounting | $42,292 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,303 |
| Fees for services: Other | $287,441 |
| Advertising and promotion | $1,167,135 |
| Office expenses | $550,894 |
| Information technology | $326,635 |
| Royalties | $0 |
| Occupancy | $1,549,263 |
| Travel | $8,467 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,948 |
| Interest | $380,906 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,908,359 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $26,338,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,009,079 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,077,867 |
| Accounts receivable, net | $492,215 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,672,550 |
| Prepaid expenses and deferred charges | $360,046 |
| Investments—publicly traded securities | $23,522,329 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $103,507,163 |
| Accounts payable and accrued expenses | $2,894,763 |
| Grants payable | $0 |
| Deferred revenue | $1,532,810 |
| Tax-exempt bond liabilities | $500,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $492,715 |
| Unsecured mortgages and notes payable | $3,271,900 |
| Other liabilities | $16,745,558 |
| Total liabilities | $25,437,746 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $78,069,417 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Country Music Foundation Inc has recieved totaling $394,896.
| Awarding Organization | Amount |
|---|---|
The Community Fdn Of Middle Tn Inc Nashville, TN PURPOSE: ARTS/HUMANITIES | $133,700 |
Country Music Association Inc Nashville, TN PURPOSE: HOF MEDALLION CEREMONY DONATION | $95,000 |
Ford Motor Co Fund Dearborn, MI PURPOSE: BETTER WORLD | $90,000 |
Cma Foundation Nashville, TN PURPOSE: CMHOF 21-22 GRANT | $25,000 |
The Community Fdn Of Middle Tn Inc Nashville, TN PURPOSE: WORDS & MUSIC IS A CURRICULUM-BASED LYRIC-WRITING PROGRAM THAT CREATES OPPORTUNITIES FOR TEACHERS AND STUDENTS TO COLLABORATE WITH NASHVILLE SONGWRITERS. | $11,100 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $10,100 |
Endowment Analysis
| Beg. Balance | $4,015,693 |
| Earnings | $1,025,674 |
| Admin Expense | $28,100 |
| Other Expense | $167,241 |
| Ending Balance | $4,846,026 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crosswater Canyon Inc Petersburg, KY | $131,093,453 | $43,029,126 |
Country Music Foundation Inc Nashville, TN | $103,507,163 | $14,152,198 |
Johnny Morris Wonders Of Wildlife Foundation Springfield, MO | $84,645,334 | $34,583,902 |
Barber Vintage Motorsports Museum Birmingham, AL | $96,854,317 | $20,184,084 |
National Corvette Museum Foundation Inc Bowling Green, KY | $80,229,990 | $15,403,313 |
Mariners Museum Newport News, VA | $159,780,245 | $10,021,200 |
National Center For Civil And Humanrights Inc Atlanta, GA | $28,909,465 | $12,210,926 |
Tennessee Golf Foundation Franklin, TN | $24,594,928 | $7,116,069 |
Atlanta Hall Management Inc Atlanta, GA | $34,614,233 | $3,372,998 |
Discovery Park Of America Inc Union City, TN | $88,157,973 | $11,219,580 |
Kentucky Derby Museum Corporation Louisville, KY | $35,033,343 | $10,633,125 |
Tennessee State Museum Foundation Nashville, TN | $6,574,867 | $116,981 |