Bessie Smith Cultural Center African American Museum &
- Assets
- $658.1k
- Revenue
- $800.4k
- Investments
- $0.0
- Employees
- 6
- Location
- Chattanooga, TN
- Founding
- 01/1988
- Data as of
- 06/2022
- EIN
- 62-1247459
Organization Overview
Bessie Smith Cultural Center African American Museum & is located in Chattanooga, TN. The organization was established in 1988. 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 06/2022, Bessie Smith Cultural Center African American Museum & employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bessie Smith Cultural Center African American Museum & 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, Bessie Smith Cultural Center African American Museum & generated $800.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $769.6k during the year ending 06/2022. While expenses have increased by 8.0% 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
TO BE THE PREMIER INTERDISCIPLINARY CULTURAL CENTER THAT PROMOTES EDUCATION AND ARTISTIC EXCELLENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HISTORICAL AND TECHNICAL RESOURCE MATERIAL FOR ALL SCHOOLS IN THE CHATTANOOGA/HAMILTON COUNTY, TN AREA. MAINTAINED A COMPREHENSIVE LIBRARY AND DISPLAYED EXHIBIT MATERIALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yusuf Hakeem Chairman | OfficerTrustee | 2 | $0 |
Avery Smith Director | Trustee | 1 | $0 |
Bernard Harris Director | Trustee | 1 | $0 |
Dr Jeff Rector Vice-Chairman | OfficerTrustee | 2 | $0 |
Elizabeth Appling Secretary | OfficerTrustee | 2 | $0 |
Paula Wilkes Executive Dir. | OfficerTrustee | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,550 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $393,185 |
| All other contributions, gifts, grants, and similar amounts not included above | $243,840 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $639,575 |
| Total Program Service Revenue | $91,013 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $69,820 |
| 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 | $800,408 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $252,589 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,748 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,784 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $675 |
| Advertising and promotion | $256 |
| Office expenses | $5,746 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $231,080 |
| Travel | $7,536 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,084 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,410 |
| Insurance | $15,132 |
| All other expenses | $155 |
| Total functional expenses | $769,640 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $383,091 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $1,204 |
| Prepaid expenses and deferred charges | $482 |
| Net Land, buildings, and equipment | $5,368 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $268,000 |
| Total assets | $658,145 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $10,157 |
| Total liabilities | $10,157 |
| Net assets without donor restrictions | $647,988 |
| 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 | $658,145 |