Tennessee Arts Academy Foundation
- Assets
- $942.3k
- Revenue
- $432.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Nashville, TN
- Founding
- 07/1998
- Data as of
- 06/2022
- EIN
- 62-1721187
Organization Overview
Tennessee Arts Academy Foundation is located in Nashville, TN. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Tennessee Arts Academy Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tennessee Arts Academy Foundation 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, Tennessee Arts Academy Foundation generated $432.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.7% each year . All expenses for the organization totaled $370.9k during the year ending 06/2022. While expenses have increased by 25.1% 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 PERPETUATE THE TENNESSEE ARTS ACADEMY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TN ARTS ACADEMY FACULTY
TO PAY ARTISTS AND SPEAKERS AT THIS YEARS ARTS ACADEMY
TENNESSEE ARTS ACADEMY BELMONT OPERATION SUPPORT
TO SUPPORT THE TENNESSEE ARTS ACADEMY - SCHOLARSHIPS 10785TAA INSTRUCTION DIRECTORS & COORDINATORS & STAFF 891TAA GENERAL FUND 3500TAA DORM & FACILTY RENTAL FEES 765
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Coleman President | OfficerTrustee | 1.5 | $0 |
William H Watkins Jr Vice President | OfficerTrustee | 0.5 | $0 |
Flowerree Mcdonough Secretary | OfficerTrustee | 0.5 | $0 |
Bobby J Frost Treasurer | OfficerTrustee | 0.5 | $0 |
Jeanette Watkins Director | Trustee | 0.25 | $0 |
Talmage Watts Director | Trustee | 0.38 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,669 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $242,434 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $352,103 |
| Total Program Service Revenue | $0 |
| Investment income | $2,033 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $77,939 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $432,075 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $144,120 |
| Grants and other assistance to domestic individuals. | $11,676 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $20,000 |
| Compensation of current officers, directors, key employees. | $20,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,591 |
| 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 | $4,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $154,780 |
| Advertising and promotion | $1,500 |
| Office expenses | $3,625 |
| Information technology | $750 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $2,832 |
| All other expenses | $687 |
| Total functional expenses | $370,927 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $864,821 |
| Savings and temporary cash investments | $77,435 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $942,256 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $339,910 |
| Net assets with donor restrictions | $602,346 |
| 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 | $942,256 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Tennessee Arts Academy Foundation has recieved totaling $51,724.
| Awarding Organization | Amount |
|---|---|
Cma Foundation Nashville, TN PURPOSE: TAA 21-22 GRANT | $25,000 |
The Community Fdn Of Middle Tn Inc Nashville, TN PURPOSE: TO PROVIDE BIG PAYBACK 2021 GIVING DAY PAYMENT. | $13,649 |
The Community Fdn Of Middle Tn Inc Nashville, TN PURPOSE: DESIGNATED FOR THE TENNESSEE ARTS ACADEMY FOUNDATION ENDOWMENT | $10,000 |
Dorothy M Gillespie Foundation Inc New York, NY PURPOSE: FURTHER THE TRAINING AND EDUCATION OF YOUNG ARTISTS | $3,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $75 |
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Arkansas Connections Academy Inc Bentonville, AR | $3,114,083 | $20,599,824 |
Susan B Anthony List Inc Arlington, VA | $6,109,204 | $16,065,131 |
Georgia Advanced Technology Ventures Inc Atlanta, GA | $206,195,666 | $20,980,407 |
Connected Nation Inc Bowling Green, KY | $5,021,239 | $16,572,653 |
North Raleigh Christian Academy Raleigh, NC | $50,620,236 | $15,888,714 |
National Association Of State Procurement Officials Lexington, KY | $137,920,901 | $31,374,950 |
Seton Home Study School Front Royal, VA | $19,128,742 | $13,590,541 |
Instruction Partners Nashville, TN | $7,038,441 | $15,858,376 |