Frist Center For The Visual Arts In C in Nashville, Tennessee (TN)

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Frist Center For The Visual Arts In C
Employer Identification Number (EIN)621731492
Name of OrganizationFrist Center For The Visual Arts In C
Address919 Broadway, Nashville, TN 37203-3822
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code, Museum, zoo, planetarium, etc.
SubsectionEducational Organization
Ruling Date07/1998
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2010
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$28,252,237
Amount of Income$14,030,522
Form 990 Revenue Amount$13,196,089
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Visual Arts Organizations


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Amount of income in 2010: $14,030,522
This organization: 

 $14,030,522
Other organizations performing similar types of work: 

 $179,752

Assets in 2010: $28,252,237
Frist Center For The Visual Arts In C: 

 $28,252,237
Other organizations performing similar types of work: 

 $229,130

Expenses in 2007: $11,500,685
This organization: 

 $11,500,685
Other organizations performing similar types of work: 

 $324,183

Income to expenses ratio in 2007: 1.0
Frist Center For The Visual Arts In C: 

 1.0
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 68.4%
Frist Center For The Visual Arts In C: 

 68.4%
Other organizations performing similar types of work: 

 68.4%

Number of employees in 2007: 82
This organization: 

 82
Other organizations performing similar types of work: 

 20

Employees paid over $50,000 in 2007: 30.5%
This organization: 

 30.5%
Other organizations performing similar types of work: 

 11.8%

Grants share in income in 2007: 81.1%
Frist Center For The Visual Arts In C: 

 81.1%
Other organizations performing similar types of work: 

 46.9%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$16,636,804$8,459,499$7,761,221$11,749,313$10,637,909$10,839,823$15,250,267$11,585,721
Contributions, gifts, grants, and similar amounts received$16,308,055$7,206,139$6,832,203$9,029,267$9,636,922$8,815,640$11,535,929$9,392,092
Contributions to donor advised funds$0$0
Direct public support$658,055$511,139$1,632,203$1,529,267$6,336,683$2,286,266$10,308,197$8,153,991
Indirect public support$15,650,000$6,695,000$5,200,000$7,500,000$3,046,344$5,662,933$740,355$788,942
Government contributions (grants)$0$0$0$0$253,895$866,441$487,377$449,159
Program service revenue including government fees and contracts$144,444$423,819$378,200$1,070,932$170,193$455,418$1,798,034$499,632
Membership dues and assessments$55,275$453,436$361,112$489,955$396,792$622,378$650,927$665,303
Interest on savings and temporary cash investments$34,785$5,633$3,632$44$0$22$15,100$65,951
Dividends and interest from securities$0$0$0$0$0$0$0$0
Net rental income or (loss)$0$83,158$92,460$118,040$74,368$103,273$141,877$173,245
Gross rents$0$588,222$435,447$295,712$111,168$204,914$267,401$278,732
Less: rental expenses$0$505,064$342,987$177,672$36,800$101,641$125,524$105,487
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-22,283$0$0$0$0$43,776$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$77,100$0$0
Less: cost or other basis and sales expenses$22,283$0$0$0$0$33,324$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$109,346
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$109,346
Gross profit or (loss) from sales of inventory$88,901$276,493$206,170$966,428$355,033$757,245$1,006,171$726,163
Gross sales of inventory, less returns and allowances$173,742$597,460$457,088$1,821,437$727,598$1,394,989$1,855,181$1,277,740
Less: cost of goods sold$84,841$320,967$250,918$855,009$372,565$637,744$849,010$551,577
Other revenue$27,627$10,821$-112,556$74,647$4,601$42,071$102,229$63,335
Total expenses$7,788,574$8,782,076$8,967,617$12,646,487$5,892,659$10,901,708$13,882,090$11,500,685
Program services$4,361,987$5,726,065$5,925,941$7,930,717$3,637,482$7,219,103$9,672,829$7,867,568
Management and general$3,034,222$2,664,466$2,726,345$4,232,960$2,046,100$3,131,901$3,544,218$2,911,483
Fundraising$392,365$391,545$315,331$482,810$209,077$550,704$665,043$721,634
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$31,705,425$30,671,644$28,754,044$27,145,666$31,535,314$30,762,225$30,509,198$28,948,030
Excess or (deficit) for the year$8,848,230$-322,577$-1,206,396$-897,174$4,745,250$-61,885$1,368,177$85,036
Net assets or fund balances at beginning of year$23,144,391$31,705,425$30,671,644$28,754,044$27,145,666$31,535,314$30,762,225$30,509,198
Other changes in net assets or fund balances$-287,196$-711,204$-711,204$-711,204$-355,602$-711,204$-1,621,204$-1,646,204
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$11,500,685$7,867,568$2,911,483$721,634
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$369,298$276,974$73,860$18,464
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$4,423,449$2,621,316$1,494,881$307,252
Pension plan contributions not included above$115,504$51,249$59,648$4,607
Employee benefits not included above$399,288$189,032$196,603$13,653
Payroll taxes$255,642$132,110$111,615$11,917
Professional fundraising fees$0$0$0$0
Accounting fees$42,508$0$42,508$0
Legal fees$40,446$0$40,446$0
Supplies$202,167$119,559$33,817$48,791
Telephone$117,206$23,903$83,641$9,662
Postage and shipping$74,601$34,909$12,607$27,085
Occupancy$1,120,964$984,853$119,167$16,944
Equipment rental and maintenance$219,892$56,011$88,386$75,495
Printing and publications$335,405$156,537$109,192$69,676
Travel$93,271$64,730$16,506$12,035
Conferences, conventions, and meetings$110,935$55,416$0$55,519
Interest$0$0$0$0
Depreciation, depletion, etc.$924,466$705,957$208,410$10,099
Other expenses not covered above$2,655,643$2,395,012$220,196$40,435
Balance Sheets
20002001200220032004200520062007
Total assets$38,219,873$36,944,875$36,748,444$35,016,746$33,341,513$32,783,133$32,446,507$30,192,622
Cash - non-interest-bearing$606,595$0$0$0$355,689$343,161$134,513$95,157
Savings and temporary cash investments$0$381,426$306,546$1,093,218$14,672$0$862,963$551,480
Accounts receivable less allowance for doubtful accounts$0$0$0$0$28,798$33,434$34,669$68,309
Pledges receivable less allowance for doubtful accounts$482,615$528,842$851,372$375,000$77,376$572,100$1,512,359$605,140
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$169,689$184,715$192,205$252,947$304,452$238,150$204,439$223,354
Prepaid expenses and deferred charges$786,221$1,053,136$1,342,778$1,423,626$1,195,081$1,310,981$846,602$1,094,030
Investments - publicly-traded securities$0$0
Investments - other securities$0$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$36,071,113$34,715,481$32,957,746$31,828,962$31,349,277$30,269,139$28,834,794$27,290,447
Other assets, including program-related investments$103,640$81,275$1,097,797$42,993$16,168$16,168$16,168$264,705
Total liabilities$6,514,448$6,273,231$7,994,400$7,871,080$1,806,199$2,020,908$1,937,309$1,244,592
Accounts payable and accrued expenses$1,457,909$1,143,642$1,842,297$1,427,433$985,758$1,697,993$1,530,840$953,011
Grants payable$0$0$1,021,464$0$0$0$0$0
Deferred revenue$356,539$229,589$230,639$526,387$345,441$322,915$406,469$291,581
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$4,700,000$4,900,000$4,900,000$4,900,000$475,000$0$0$0
Other liabilities$0$0$0$1,017,260$0$0$0$0
Total liabilities and net assets/fund balances$38,219,873$36,944,875$36,748,444$35,016,746$33,341,513$32,783,133$32,446,507$30,192,622
Total net assets or fund balances$31,705,425$30,671,644$28,754,044$27,145,666$31,535,314$30,762,225$30,509,198$28,948,030
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$16,636,804$8,459,499$7,761,221$11,749,313$10,637,909$10,839,823$15,250,267$11,585,721
Total revenue, gains, and other support per audited financial statements$16,743,928$9,285,530$8,540,878$12,898,317$10,674,709$10,897,688$15,375,791$11,945,252
Other expenses$0$0$185,752$116,323$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$185,752$116,323$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$-107,124$-826,031$-593,905$-1,032,681$-36,800$-57,865$-125,524$-359,531
Investment expenses$0$0$0$0$0$0$0$0
Other$-107,124$-826,031$-593,905$-1,032,681$-36,800$-57,865$-125,524$-359,531
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$7,788,574$8,782,076$8,967,617$12,646,487$5,892,659$10,901,708$13,882,090$11,500,685
Total expenses and losses per audited financial statements$8,182,894$10,319,311$10,458,478$14,506,695$6,285,061$11,670,777$14,718,818$12,571,420
Other revenue$394,320$1,537,235$1,490,861$1,860,208$392,402$769,069$836,728$1,070,735
Donated services and use of facilities$287,196$711,204$896,956$827,527$355,602$711,204$711,204$711,204
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$107,124$826,031$593,905$1,032,681$36,800$57,865$125,524$359,531
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$191,344$13,417$0
40$153,069$11,468$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings28
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200682
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$439,903$65,951$1,687,775
Program service revenue
Program service revenue 1000000$000$0$418,035
Program service revenue 2000000$000$0$62,073
Program service revenue 3000000$000$0$19,524
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$665,303
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$65,951$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal propertyRental and leasing services$173,24500$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventoryCaterers$266,65800$0$459,505
Other revenue000000$000$0$63,335
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$95,768$9,169$0
$96,127$8,101$0
$94,066$8,659$0
$78,568$7,993$0
$72,085$6,224$0
Total number of other employees paid over $50,00018
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003200420052006
Total$2,053,007$17,322,520$9,303,874$8,459,167$13,618,605$11,165,711$10,984,505$15,192,974
Gifts, grants, and contributions received$1,961,061$15,836,222$6,831,751$6,097,528$9,171,114$9,822,090$7,740,681$9,859,402
Membership fees received$2,000$519,911$332,847$410,541$334,526$112,455$519,748$556,956
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$644,406$1,422,439$1,236,262$3,401,717$875,564$2,012,850$4,050,312
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$17,016$34,785$5,633$3,632$44$0$22$15,100
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$72,930$287,196$711,204$711,204$711,204$355,602$711,204$711,204
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$544,356$100,799$443,557
Gross receipts or sales less returns and allowances$436,946$0$0
Cost of goods sold$1,418,241$0$0
Gross profit$2,951,221$0$295,122
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$249,234$100,799$148,435
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$724,018
Compensation of officers, directors, and trustees$0
Salaries and wages$386,100
Repairs and maintenance$4,208
Bad debts$0
Interest$0
Taxes and licenses$39,656
Charitable contributions$0
Depreciation$29,399
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$59,256
Excess exempt expenses$0
Excess readership costs$0
Other deductions$205,399
Unrelated business taxable income$-280,461
Unrelated business taxable income before net operating loss deduction$-280,461
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-280,461
Specific deduction$1,000
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2Arts Club Of Chicago201 E Ontario St, Chicago, IL 60611-3204IL1937-05$13,131,249
3American Ceramic Society Inc600 N Cleveland Ave Ste 210, Westerville, OH 43082-6921OH1982-07$9,301,694
4Museum Of Contemporary Art Cleveland8501 Carnegie Ave, Cleveland, OH 44106-2919OH1974-10$6,747,584
5Grounds For Sculpture Inc14 Fairgrounds Road Suite A, Hamilton, NJ 08619-3447NJ2000-05$4,988,492
6The American Architectural Foundation Inc1799 New York Ave Nw, Washington, DC 20006-5207DC1960-06$3,322,490
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8Pratt Fine Arts Center1902 S Main St, Seattle, WA 98144-2206WA1983-10$2,561,472
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17Sculpture Center1834 E 123rd St, Cleveland, OH 44106-1910OH1994-05$166,855
18Waco Creative Art Center1300 College Dr, Waco, TX 76708-1401TX1973-05$153,408
19Laguna Beach Festival Of Arts Foundation650 Laguna Canyon Rd, Laguna Beach, CA 92651-1837CA1989-03$135,976
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22Weavers Guild Of Greater Cincinnati Inc4870 Gray Rd, Cincinnati, OH 45232-1512OH1996-01$89,727
23Banfill-Locke Center For The Arts6666 E River Rd, Fridley, MN 55432-4229MN1979-07$74,486
24The Center For Understanding The Built Environment Inc, Cube5328 West 67 Street, Prairie Village, KS 66208KS1994-11$25,661
25Covered Bridge Art Association Inc124 W Ohio Street, Rockville, IN 47872IN1987-01$18,522
26Society For The Advancement Of Plein Air PaintingPO BOX 2293, Avalon, CA 90704-2293CA1996-06$1,000
27Fairmount Park Art Association1616 Walnut St Ste 2012, Philadelphia, PA 19103-5320PA1952-01$15,971,590
28Chicago Architecture Foundation224 S Michigan Ave, Chicago, IL 60604-2505IL1966-10$11,535,573
29Association For Visual Artists30 Frazier Ave, Chattanooga, TN 37405-3931TN1987-11$517,278
30Oak Ridge Art Center201 Badger Rd, Oak Ridge, TN 37830-6216TN1964-04$194,764
Number of organizations performing similar types of work
Alaska1
Alabama3
Arkansas1
Arizona2
California60
Colorado13
Connecticut11
District of Columbia8
Florida27
Georgia11
Hawaii1
Iowa3
Idaho1
Illinois16
Indiana8
Kansas4
Kentucky9
Louisiana6
Massachusetts17
Maryland6
Maine3
Michigan16
Minnesota9
Missouri7
Mississippi4
Montana1
North Carolina20
Nebraska5
New Hampshire2
New Jersey11
New Mexico5
Nevada3
New York54
Ohio24
Oklahoma4
Oregon9
Pennsylvania19
Rhode Island4
South Carolina4
Tennessee4
Texas28
Utah3
Virginia12
Vermont4
Washington12
Wisconsin7
West Virginia2
Wyoming2
International1
Total487

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