Frist Art Museum
- Assets
- $27.2m
- Revenue
- $12.3m
- Investments
- $0.0
- Employees
- 88
- Location
- Nashville, TN
- Founding
- 07/1998
- Data as of
- 12/2020
- EIN
- 62-1731492
Organization Overview
Frist Art Museum is located in Nashville, TN. The organization was established in 1998. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Frist Art Museum employed 88 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frist Art 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 12/2020, Frist Art Museum generated $12.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $11.8m 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
PRESENT AND ORIGINATE HIGH QUALITY EXHIBITIONS WITH RELATED EDUCATIONAL PROGRAMS AND COMMUNITY OUTREACH ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITIONS: HOSTED TRAVELING ART EXHIBITIONS FROM THE UNITED STATES AND ABROAD, AS WELL AS INTERNAL DEVELOPMENT OF ART EXHIBITIONS ON A DIVERSE RANGE OF THEMES.
EDUCATION AND ENGAGEMENT: OFFERED A WIDE VARIETY OF ACCESSIBLE AND AFFORDABLE PROGRAMS DESIGNED TO ASSIST PEOPLE OF ALL AGES AND BACKGROUNDS TO BECOME MORE KNOWLEDGEABLE AND APPRECIATIVE OF ART.
MEMBER AND GUEST SERVICES: THE FRIST ART MUSEUM PROVIDES AN ENRICHING MEMBER AND GUEST EXPERIENCE THROUGH GALLERY GUIDANCE. EXHIBITION CONTENT IS MADE AVAILABLE TO MEMBERS AND GUESTS THROUGH MEMBER PUBLICATIONS, AUDIO GUIDES, AND EXHIBITION BROCHURES.
GIFT SHOP: OFFERED WIDE SELECTION OF ARTS & CRAFTS SUPPLIES,EDUCATIONAL MATERIALS, PUBLICATIONS, CATALOGUES AND GIFT ITEMS THAT ARERELATED TO EXHIBITIONS & PROGRAMS. ALSO FEATURED ARE SELECTEXHIBITION-RELATED ITEMS BY LOCAL ARTISANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan H Edwards PHD Exec. Director & CEO (retired 2/2022) | Officer | 40 | $356,911 |
Mark Scala Chief Curator | Officer | 40 | $156,104 |
Anne Henderson Director-Education And Engagement | 40 | $127,670 | |
Carol Vollbrecht Director-Finance | 40 | $126,151 | |
Ellen Pryor Director-Communications | 40 | $125,319 | |
Crystal Churchwell Evans Director-Development | 40 | $117,965 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Walden Security Inc Security Services | 12/30/21 | $445,712 |
Wolfe Woodworking Exhibition Displays | 12/30/21 | $326,515 |
Nashville Talent Payment Inc Temporary Employees | 12/30/21 | $235,443 |
Tristar Building Services Janitorial Services | 12/30/21 | $104,525 |
Bohan Advertising Advertising Services | 12/30/21 | $510,622 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,048,829 |
| Investment income | $33,362 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,982 |
| 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 | $107,909 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,277,490 |
| 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. | $369,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,546,308 |
| Pension plan accruals and contributions | $203,682 |
| Other employee benefits | $587,072 |
| Payroll taxes | $341,638 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,440 |
| Fees for services: Accounting | $40,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100,168 |
| Advertising and promotion | $318,570 |
| Office expenses | $372,704 |
| Information technology | $99,697 |
| Royalties | $0 |
| Occupancy | $1,655,981 |
| Travel | $26,665 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,233 |
| Interest | $1,985 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $707,588 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $11,816,020 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,273,215 |
| Savings and temporary cash investments | $2,921,226 |
| Pledges and grants receivable | $371,779 |
| Accounts receivable, net | $68,176 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $200,451 |
| Prepaid expenses and deferred charges | $1,838,009 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,131,199 |
| Total assets | $27,247,403 |
| Accounts payable and accrued expenses | $1,021,848 |
| Grants payable | $0 |
| Deferred revenue | $512,617 |
| 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 | $27,151 |
| Total liabilities | $1,561,616 |
| 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 | $25,685,787 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Frist Art Museum has recieved totaling $42,125.
| Awarding Organization | Amount |
|---|---|
Milton And Denice Johnson Family Foundation Nashville, TN PURPOSE: OPERATIONAL SUPPORT | $30,000 |
Elizabeth And Eric Ward Family Foundation College Grove, TN PURPOSE: FURTHER EXEMPT PURPOSE | $5,500 |
Ryman Hospitality Properties Foundation Nashville, TN PURPOSE: GRANT FOR SUPPORT OF PROGRAM MISSION FOR ARTS | $5,000 |
Jeff And Tina Adams Family Foundation Columbia, TN PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $1,500 |
Coddon Family Foundation Nashville, TN PURPOSE: UNRESTRICTED GIFT | $125 |
Endowment Analysis
| Beg. Balance | $199,600 |
| Earnings | $37,107 |
| Other Expense | $37,107 |
| Ending Balance | $199,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arts & Science Council Charlotte Mecklenburg Inc Charlotte, NC | $42,519,495 | $11,600,726 |
Frist Art Museum Nashville, TN | $27,247,403 | $12,277,490 |
Professional Photographers Of America Inc Atlanta, GA | $48,960,545 | $12,325,076 |
Textile Rental Services Association Of America Inc Alexandria, VA | $12,660,390 | $5,781,606 |
Inda Association Of The Non Woven Fabrics Industry Cary, NC | $9,846,018 | $4,859,607 |
Andreas H Bechtler Arts Foundation Charlotte, NC | $39,434,021 | $2,461,495 |
Master Craftsmen Foundation Kansas City, MO | $0 | $269 |
Virginia Museum Of Contemporary Art Virginia Beach, VA | $2,164,198 | $3,254,466 |
Georgia Association Of Manufacturers Inc Atlanta, GA | $2,700,140 | $2,292,406 |
The Center For Craft Creativity & Design Inc Asheville, NC | $15,329,103 | $2,386,393 |
Forward Arts Foundation Inc Atlanta, GA | $5,240,641 | $1,648,904 |
Southern Highland Handicraft Guild Inc Asheville, NC | $7,206,278 | $2,199,830 |