Frist Art Museum Foundation
- Assets
- $70.2m
- Revenue
- $5.7m
- Investments
- $60.9m
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 07/1998
- Data as of
- 12/2021
- EIN
- 62-1731495
Organization Overview
Frist Art Museum Foundation is located in Nashville, TN. The organization was established in 1998. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frist Art Museum 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 12/2021, Frist Art Museum Foundation generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.4% each year . All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 5.0% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING ORGANIZATION TO FRIST ART MUSEUM (EIN: 62-1731492)
Describe the Organization's Program Activity:
PROVIDED GRANTS TO FRIST ART MUSEUM (EIN: 62-1731492) TO SUPPORT ITS EFFORTS IN OPERATING A HIGH QUALITY ART MUSEUM IN NASHVILLE, TENNESSEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William R Frist Chairman & President | OfficerTrustee | 1 | $0 |
Peter F Bird Jr Treasurer | Officer | 4 | $0 |
Jack F Stringham II Secretary | Officer | 1 | $0 |
H Lee Barfield II Director | Trustee | 1 | $0 |
Laura Chadwick Director | Trustee | 1 | $0 |
Karyn M Frist Director | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $950,280 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,608,283 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,732,814 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,954,005 |
| 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 | $0 |
| 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 | $21,053 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $327,668 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,302,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,859,851 |
| 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 | $6,725,223 |
| Investments—other securities | $60,934,492 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $697,193 |
| Total assets | $70,216,759 |
| Accounts payable and accrued expenses | $50,722 |
| 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 | $3,722,116 |
| Total liabilities | $3,772,838 |
| Net assets without donor restrictions | $66,443,921 |
| 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 | $70,216,759 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Frist Art Museum Foundation has recieved totaling $8,223.
| Awarding Organization | Amount |
|---|---|
United Way Of Middle Tennessee Inc Nashville, TN PURPOSE: DONOR DIRECTED DESIGNATIONS | $8,223 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pbs Foundation Arlington, VA | $37,997,942 | $17,786,379 |
North Carolina Museum Of Art Foundation Inc Raleigh, NC | $80,876,506 | $13,828,837 |
Virginia Foundation For Public Media Richmond, VA | $185,376,659 | $5,025,363 |
Commonwealth Fund For Ket Inc Lexington, KY | $35,205,433 | $8,912,254 |
St Louis Art Museum Foundation St Louis, MO | $296,394,608 | $22,752,701 |
Alabama Educational Television Foundation Authority Birmingham, AL | $11,749,441 | $5,899,982 |
Memphis Brooks Museum Of Art Inc Memphis, TN | $44,232,792 | $7,821,496 |
Marbles Kids Museum Raleigh, NC | $8,790,326 | $3,967,863 |
Bellingrath Gardens And Home Foundation Inc Theodore, AL | $4,998,208 | $3,680,917 |
Friends Of Nc State Museum Of Natural Sciences Raleigh, NC | $9,967,287 | $3,956,524 |
Centennial Park Conservancy Nashville, TN | $5,267,235 | $2,768,009 |
World Chess Museum Inc St Louis, MO | $1,624,573 | $2,628,298 |