Academy Of Country Music
- Assets
- $11.5m
- Revenue
- $7.9m
- Investments
- $4.0m
- Employees
- 35
- Location
- Nashville, TN
- Founding
- 09/1968
- Data as of
- 12/2022
- EIN
- 95-2547035
Organization Overview
Academy Of Country Music is located in Nashville, TN. The organization was established in 1968. According to its NTEE Classification (A03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Academy Of Country Music employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy Of Country Music is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Academy Of Country Music generated $7.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $10.9m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 7 years. 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 IMPROVE LIVES BY CONNECTING AND ENGAGING FANS, ARTISTS AND THE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HANDLES BALLOTING & ORGANIZATION OF THE ANNUAL ACADEMY OF COUNTRY MUSIC AWARDS SHOW BROADCASTED ON TV. THIS IS THE PRIMARY METHOD OF INCREASING AWARENESS OF THE INDUSTRY.
MEMBER EVENTS DESIGNED TO HONOR COUNTRY MUSIC PERFORMERS AND PROMOTE THE ACADEMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ali Harnell Director | Trustee | 5 | $0 |
Andrew Kautz Director | Trustee | 5 | $0 |
Annie Ortimeier Director | Trustee | 5 | $0 |
Bailey Scott Director | Trustee | 5 | $0 |
Becky Gardenhire Director | Trustee | 5 | $0 |
Ben Kline Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Loeb & Loeb Legal Fees | 12/30/22 | $275,977 |
Pasich Legal Fees | 12/30/22 | $100,992 |
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 | $7,462,437 |
| Investment income | $42,126 |
| 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 | $7,915,143 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $675 |
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $950,612 |
| Compensation of current officers, directors, key employees. | $475,306 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,300,868 |
| Pension plan accruals and contributions | $58,234 |
| Other employee benefits | $173,786 |
| Payroll taxes | $174,636 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $506,648 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $165,804 |
| Advertising and promotion | $0 |
| Office expenses | $198,893 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $177,688 |
| Travel | $105,184 |
| 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 | $137,492 |
| Insurance | $95,016 |
| All other expenses | $90,489 |
| Total functional expenses | $10,947,542 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,897 |
| Savings and temporary cash investments | $4,407,195 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,014,439 |
| 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 | $1,653,007 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,002,409 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $312,368 |
| Total assets | $11,504,315 |
| 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 | $667,295 |
| Total liabilities | $667,295 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $10,837,020 |
| Total liabilities and net assets/fund balances | $11,504,315 |
Grants Awarded
Over the last fiscal year, Academy Of Country Music has awarded $502,495 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
ACADEMY OF COUNTRY MUSIC LIFTING LIVES PURPOSE: GRANT AND EMERGENCY RELIEF | $309,995 |
PENCIL FOUNDATION PURPOSE: SPONSORSHIP | $10,000 |
CITY OF HOPE - MFEI PURPOSE: DONATION FOR MUSIC PROGRAM | $15,000 |
ASSOCIATION OF INDEPEDENT MUSIC PUBLISHERS PURPOSE: ANNUAL DONATION TO FUND MUSIC PROGRAMS | $25,000 |
LEADERSHIP MUSIC PURPOSE: LEADERS IN MUSIC PROGRAM SUPPORT | $35,000 |
COUNTRY RADIO BROADCASTER INC PURPOSE: SPONSORSHIP | $35,500 |