Music City Bowl Inc
- Assets
- $8.9m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 09/1999
- Data as of
- 03/2023
- EIN
- 62-1720086
Organization Overview
Music City Bowl Inc is located in Nashville, TN. The organization was established in 1999. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Music City Bowl 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 03/2023, Music City Bowl Inc generated $8.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $9.8m during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRODUCE A POST-SEASON COLLEGIATE FOOTBALL GAME TO STIMULATE A POSITIVE IMPACT ON THE NASHVILLE ECONOMY, NATIONAL IMAGE, AND COMMUNITY PRIDE WHILE SHOWCASING THE CITY AS A PREMIER DESTINATION WITH AUDIENCES THROUGHOUT THE COUNTRY.
Describe the Organization's Program Activity:
PRODUCED A POST-SEASON FOOTBALL GAME BETWEEN THE UNIVERSITY OF KENTUCKY AND THE UNIVERSITY OF IOWA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Evette White Chair And Director | OfficerTrustee | 0.5 | $0 |
Kris Boron Board Member | Trustee | 0.5 | $0 |
Michelle Brown Board Member | Trustee | 0.5 | $0 |
Dave Cooley Board Member | Trustee | 0.5 | $0 |
Howard Gentry Board Member | Trustee | 0.5 | $0 |
Aubrey Harwell Jr Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,000 |
| Total Program Service Revenue | $8,417,632 |
| Investment income | $64,288 |
| 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 | $8,492,920 |
| 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. | $434,844 |
| Compensation of current officers, directors, key employees. | $105,994 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $239,245 |
| Pension plan accruals and contributions | $16,156 |
| Other employee benefits | $115,720 |
| Payroll taxes | $40,169 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,086 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,134 |
| Advertising and promotion | $251,711 |
| Office expenses | $27,135 |
| Information technology | $15,164 |
| Royalties | $0 |
| Occupancy | $101,451 |
| Travel | $22,224 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,638 |
| Insurance | $75,890 |
| All other expenses | $602,004 |
| Total functional expenses | $9,772,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,666,651 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,664 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $137,882 |
| Net Land, buildings, and equipment | $24,508 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,908,705 |
| Accounts payable and accrued expenses | $5,195,931 |
| Grants payable | $0 |
| Deferred revenue | $500,000 |
| 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 | $13,988 |
| Total liabilities | $5,709,919 |
| Net assets without donor restrictions | $3,132,424 |
| Net assets with donor restrictions | $66,362 |
| 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 | $8,908,705 |
Grants Awarded
Over the last fiscal year, Music City Bowl Inc has awarded $95,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE DOLLYWOOD FOUNDATION PURPOSE: TO SUPPORT EAST TENNESSEE WILDFIRE RELIEF | $50,000 |
THE COMMUNITY FOUNDATION OF MIDDLE TENNESSEE PURPOSE: TO SUPPORT THE HOPE CHARITABLE GOLF TOURNAMENT | $45,000 |