2024-11-12T14:50:20-06:00 2023-12-31 620713250 KRAFTCPAS PLLC 555 GREAT CIRCLE ROAD NASHVILLE TN 37228 990 2023-01-01 620753887 COUNTRY MUSIC FOUNDATION INC COUN 6154162043 222 REP JOHN LEWIS WAY S NASHVILLE TN 37203 NINA BURGHARD EXEC VP OF FINANCES/OPERATIONS 6154162043 2024-11-12 1 1 FRANCES E LEAHY P00713593 6152427351 2024-11-12 2023 2024-10-15 13:58:12Z COUNTRY MUSIC HALL OF FAME AND MUSEU KYLE YOUNG 222 REP JOHN LEWIS WAY S NASHVILLE TN 37203 62346337 0 X WWW.COUNTRYMUSICHALLOFFAME.ORG X 1964 TN IDENTIFY & PRESERVE THE EVOLVING HISTORY & TRADITIONS OF COUNTRY MUSIC & TO EDUCATE ITS AUDIENCES. 10 8 474 108 15422098 531582 8464370 3935579 40773498 44786510 672492 2116001 6127528 6305890 56037888 57143980 0 0 0 0 18617699 20461412 0 0 2479917 21100559 22634036 39718258 43095448 16319630 14048532 134685329 152048376 22941931 23696959 111743398 128351417 X THE MISSION OF THE COUNTRY MUSIC FOUNDATION, INC. (CMF) IS TO IDENTIFY AND PRESERVE THE EVOLVING HISTORY AND TRADITIONS OF COUNTRY MUSIC AND TO EDUCATE ITS AUDIENCES. FUNCTIONING AS A LOCAL HISTORY MUSEUM AND AS AN INTERNATIONAL ARTS ORGANIZATION, THE CMF SERVES VISITING AND NON-VISITING AUDIENCES INCLUDING FAMILIES, STUDENTS, SCHOLARS, MEMBERS OF THE MUSIC INDUSTRY, AND THE GENERAL PUBLIC, IN THE NASHVILLE AREA, THE NATION, AND THE WORLD. 0 0 37403486 35826386 FOUNDED IN 1967, THE COUNTRY MUSIC FOUNDATION, INC. ("CMF"), WHICH DOES BUSINESS AS THE COUNTRY MUSIC HALL OF FAME AND MUSEUM (THE "MUSEUM"), IS A NOT-FOR-PROFIT EDUCATIONAL INSTITUTION THAT PRESERVES AND INTERPRETS THE EVOLVING HISTORY AND TRADITIONS OF COUNTRY MUSIC. FUNCTIONING AS A NATIONAL HISTORY MUSEUM AND AS AN INTERNATIONAL ARTS ORGANIZATION WITH OVER 1.6 MILLION ANNUAL VISITORS IN A TYPICAL YEAR, THE MUSEUM SAFEGUARDS A DIVERSE ARTIFACT AND ARCHIVAL COLLECTION COMPRISED OF MOVING IMAGES ON FILM; VIDEO AND DIGITAL FORMATS; PHOTOGRAPHS; SOUND RECORDINGS; ORAL HISTORY INTERVIEWS; STAGE COSTUMES; MUSICAL INSTRUMENTS; POSTERS; PRINTED MATERIALS; OBJECTS ILLUSTRATING THE LIVES AND CAREERS OF MUSICIANS, INDUSTRY FIGURES AND THE CULTURE OF COUNTRY MUSIC. THROUGH 20 EXHIBITS CURATED AND PRESENTED, THE MUSEUM INTERPRETS ITS COLLECTION WITH SUPPORT OF THE MORE THAN 1,275 ON-SITE AND VIRTUAL EDUCATIONAL PROGRAMS IN 2023. 37403486 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 0 0 0 1 263 0 1 474 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 10 8 1 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 1 1 1 1 1 TN X NINA BURGHARD 6154162043 222 REP JOHN LEWIS WAY S NASHVILLE TN 37203 MARY ANN MCCREADY BOARD CHAIR 8.00 X X 0 0 0 AL GIOMBETTI EXECUTIVE VICE PRESIDENT 2.00 X X 0 0 0 DAVID ROSS SECRETARY 2.00 X X 0 0 0 ERNEST WILLIAMS III TREASURER 2.00 X X 0 0 0 MARK BLOOM TRUSTEE 1.00 X 0 0 0 DAVID CONRAD TRUSTEE 1.00 X 0 0 0 J WILLIAM DENNY TRUSTEE 1.00 X 0 0 0 ROD ESSIG TRUSTEE 1.00 X 0 0 0 KEN LEVITAN TRUSTEE 1.00 X 0 0 0 JODY WILLIAMS TRUSTEE 1.00 X 0 0 0 KYLE YOUNG CEO 40.00 X 846852 0 13537 NINA BURGHARD EXEC VP FINANCES & OPERATIONS 40.00 X 330614 0 13411 LISA DAVIS EXEC VP EXTERNAL AFFAIRS 40.00 X 248489 0 11180 MARK DE LELYS VP REVENUE 40.00 X 216536 0 9947 HERNANDO RODRIGUEZ SR. DIR OF EVENTS & CULINARY 40.00 X 198541 0 9478 JOHNNY CUNNINGHAM SR. DIR OF INFORMATION & TECHNOLOGY 40.00 X 197289 0 6008 WARREN DENNY VP CREATIVE 40.00 X 147843 0 7078 BEN HALL VP DEVELOPMENT 40.00 X 128966 0 7060 MICHAEL GRAY VP MUSEUM SERVICES 40.00 X 126339 0 7657 2441469 0 85356 23 0 1 0 EVENT WORKS 5901 CALIFORNIA AVE SUITE 218 NASHVILLE TN 37209 EVENT RENTALS 1029673 PLEASE BE SEATED 7119 CENTENNIAL BLVD NASHVILLE TN 37209 EVENT RENTALS 756726 FRANTZ BUILDING SERVICES PO BOX 2001 OWENSBORO KY 42302 HOUSEKEEPING 627844 UNITED DATA TECHNOLOGIES 2900 MONARCH LAKES BOULEVARD SUITE MIRAMAR FL 33027 IT EQUIP & SUPPORT 576169 GARDA WORLD SECURITY SERVICES 1699 S HANLEY RD SUITE 350 ST LOUIS MO 63144 SECURITY SERVICES 529906 25 182302 1547492 2205785 170375 3935579 ADMISSION FEES 900099 25637414 25637414 RESTAURANT AND CATERING REVENUE 722100 11172585 895661 10276924 EVENT REVENUE 900099 7976511 4715137 3261374 44786510 2090610 2090610 351826 324213 2222 27613 -2222 25391 25391 62100 182302 218184 -156084 -156084 10265389 4657738 5607651 4048583 1559068 OTHER REVENUE 900099 854323 529591 324732 854323 57143980 35826386 15422098 1959917 1690566 807545 422643 460378 16463561 14131419 1194346 1137796 180038 140546 18314 21178 878159 659552 107952 110655 1249088 935067 156136 157885 80337 71572 6427 2338 47912 42684 3833 1395 72690 72690 668062 595172 53435 19455 1630495 1452598 130415 47482 1846984 1645478 147759 53747 1124840 1002120 89987 32733 3068676 2713675 260249 94752 103557 81001 14063 8493 11115 9903 889 323 327723 291968 26218 9537 4716607 4202025 377329 137253 UNRELATED BUSINESS INCO 228222 228222 EVENT EXPENSE 5540285 5540285 EXHIBITS 1639998 1639998 OTHER EMPLOYEE EXPENSES 688370 613269 55070 20031 838163 599387 74290 164486 43095448 37403486 3212045 2479917 22344217 26910137 2064798 327492 812947 1051708 1571033 1784123 581959 527372 103427396 58313092 46609452 45114304 43244396 59336020 284784 299532 17171743 16697688 134685329 152048376 3237747 3788801 1806228 2308269 50000 0 375000 300000 17472956 17299889 22941931 23696959 X 106265671 123872167 5477727 4479250 111743398 128351417 134685329 152048376 14048532 2559487 0 X X 0 1 X 1 1 1 X 1790541 2626085 14409144 8464370 3935579 31225719 1790541 2626085 14409144 8464370 3935579 31225719 241349 30984370 695558 366991 94143 598951 2090610 3846253 186636 48890 382443 531582 1149551 1305081 1229164 631135 516038 529591 4211009 40432532 103296640 0.76630 0.78170 X SCHEDULE A, PART II, LINE 12 THE TOTAL GROSS RECEIPTS FROM RELATED ACTIVITES WAS INCREASED FOR THE PRIOR 4 YEARS FROM WHAT WAS ORIGINALLY REPORTED TO CORRECT THE TOTAL 5-YEAR LOOKBACK OF GROSS RECEIPTS FROM ACTIVITY THAT IS RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 43249851 13000045 3509189 351826 71239 59336020 4846026 39018782 -400578 183352 31027 43249851 4015693 1025674 167241 28100 4846026 3734879 20000 451017 166901 23302 4015693 3122145 798026 162333 22959 3734879 0.93500 0.03852 0.02644 1 0 3926300 3926300 69432276 37103036 32329240 14926827 11301477 3625350 15141993 9908579 5233414 45114304 RIGHT-OF-USE ASSETS 16697688 16697688 FINANCE LEASE LIABILITY 16817828 OPERATING LEASE LIABILITIES 482061 17299889 X 64691742 2559487 185043 2744530 61947212 72690 -4875922 -4803232 57143980 48083723 185043 185043 47898680 72690 -4875922 -4803232 43095448 PART III, LINE 1A: THE FOUNDATION'S COLLECTIONS ARE MADE UP OF REFERENCE AND ARCHIVAL MATERIALS AND THREE-DIMENSIONAL OBJECTS. THE ARCHIVAL AND REFERENCE MATERIALS INCLUDE COMMERCIAL AUDIO AND VIDEO RECORDINGS, FILMS, PHOTOGRAPHS, POSTERS, DOCUMENTS, BOOKS, AND PERIODICALS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. IN ADDITION, THE MUSEUM RECORDS AND PRESERVES ITS OWN PROGRAMMING, INCLUDING PODCASTS, INTERVIEWS, AND PERFORMANCES. THE OBJECT COLLECTION COMPRISES INSTRUMENTS, STAGE WEAR, PERSONAL AND PROMOTIONAL OBJECTS RELATED TO THE MUSIC AND CAREERS OF COUNTRY MUSIC PERFORMERS, SONGWRITERS, AND INDUSTRY PROFESSIONALS. THESE ITEMS ARE CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. IN ACCORDANCE WITH THE PROVISIONS OF GAAP (GENERALLY ACCEPTED ACCOUNTING PRINCIPLES), THE FOUNDATION DOES NOT CAPITALIZE DONATED ARTIFACTS OR RECOGNIZE THEM AS REVENUES OR GAINS. GAAP PROVIDES THAT SUCH DONATIONS NEED NOT BE RECOGNIZED IF THEY ARE ADDED TO COLLECTIONS THAT ARE HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN; ARE PROTECTED, KEPT UNENCUMBERED, CARED FOR, AND PRESERVED; AND ARE SUBJECT TO A POLICY THAT REQUIRES THE PROCEEDS FROM SALES OF COLLECTION ITEMS TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. THE ESTIMATED FAIR VALUE OF THE ARTIFACTS DONATED IN 2023 IS $1,486,040 ($130,398 IN 2022). PART III, LINE 4: THE FOUNDATION'S COLLECTIONS ARE MADE UP OF REFERENCE AND ARCHIVAL MATERIALS AND THREE-DIMENSIONAL OBJECTS. THE ARCHIVAL AND REFERENCE MATERIALS INCLUDE COMMERCIAL AUDIO AND VIDEO RECORDINGS, FILMS, PHOTOGRAPHS, POSTERS, DOCUMENTS, BOOKS, AND PERIODICALS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. IN ADDITION, THE MUSEUM RECORDS AND PRESERVES ITS OWN PROGRAMMING, INCLUDING PODCASTS, INTERVIEWS, AND PERFORMANCES. THE OBJECT COLLECTION COMPRISES INSTRUMENTS, STAGE WEAR, PERSONAL AND PROMOTIONAL OBJECTS RELATED TO THE MUSIC AND CAREERS OF COUNTRY MUSIC PERFORMERS, SONGWRITERS, AND INDUSTRY PROFESSIONALS. THESE ITEMS ARE CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THESE ITEMS FURTHER THE FOUNDATION'S MISSION OF IDENTIFYING AND PRESERVING THE EVOLVING HISTORY AND TRADITIONS OF COUNTRY MUSIC AND TO EDUCATE ITS AUDIENCES. PART V, LINE 4: THE ORGANIZATION HAS AN ENDOWMENT POLICY AND INVESTMENT POLICY. THE CORPUS IS HELD AND THE EARNINGS OF A ROLLING 3 YEAR AVERAGE UP TO 5% ARE DISTRIBUTED TO OPERATIONS. ANY RESTRICTED FUNDING IS USED AS DESIGNATED. THE ENDOWMENT FUNDS ARE FUNDS THAT GROW IN VALUE AND PROVIDE A SOURCE OF INCOME PRIMARILY FOR THE SUPPORT OF OPERATING COSTS. PART X, LINE 2: MANAGEMENT PERFORMS AN EVALUATION OF ALL INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE FOUNDATION'S INCOME TAX RETURNS TO DETERMINE WHETHER THE INCOME TAX POSITIONS MEET A "MORE LIKELY THAN NOT" STANDARD OF BEING SUSTAINED UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS PERFORMED ITS EVALUATION OF ALL INCOME TAX POSITIONS TAKEN ON ALL OPEN INCOME TAX RETURNS AND HAS DETERMINED THAT THERE WERE NO POSITIONS TAKEN THAT DO NOT MEET THE "MORE LIKELY THAN NOT" STANDARD. ACCORDINGLY, THERE ARE NO PROVISIONS FOR INCOME TAXES, PENALTIES OR INTEREST RECEIVABLE OR PAYABLE RELATING TO UNCERTAIN INCOME TAX POSITIONS IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOOD SOLD RECLASS -4,657,738. DIRECT SPECIAL EVENT EXPENSES -218,184. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD RECLASS -4,657,738. DIRECT SPECIAL EVENT EXPENSES -218,184. ALL FOR THE HALL NY 244402 182302 62100 17904 78454 121826 244402 182302 62100 17904 78454 121826 218184 -156084 X X 0 0 0 0 0 0 0 0 0 KYLE YOUNG CEO 815049 0 31803 0 0 0 9900 0 3637 0 860389 0 0 0 NINA BURGHARD EXEC VP FINANCES & OPERATIONS 317845 0 12769 0 0 0 9774 0 3637 0 344025 0 0 0 LISA DAVIS EXEC VP EXTERNAL AFFAIRS 238716 0 9773 0 0 0 7543 0 3637 0 259669 0 0 0 MARK DE LELYS VP REVENUE 208405 0 8131 0 0 0 6310 0 3637 0 226483 0 0 0 HERNANDO RODRIGUEZ SR. DIR OF EVENTS & CULINARY 191008 0 7533 0 0 0 5841 0 3637 0 208019 0 0 0 JOHNNY CUNNINGHAM SR. DIR OF INFORMATION & TECHNOLOGY 189960 0 7329 0 0 0 5697 0 311 0 203297 0 0 0 WARREN DENNY VP CREATIVE 142173 0 5670 0 0 0 3441 0 3637 0 154921 0 0 0 ERNIE WILLIAMS BOARD MEMBER AND MEMBER OF ENDOWMENT INVESTMENT MANAGER 72690 CMF'S ENDOWMENT IS MANAGED BY THE INVESTMENT MANAGER OF WHICH MR. WILLIAMS IS A PART OWNER. TRANSACTION AMOUNT IS MANAGEMENT FEES PAID TO THE INVESTMENT MANAGER 0 KEN LEVITAN BOARD MEMBER AND PART OWNER OF BAJO SEXTO 324732 CMF OWNS 40% OF BAJO SEXTO, MR. LEVITAN IS ONE OF THE OTHER OWNERS WHOSE OWNERSHIP INTEREST MAKE UP THE REMAINING 60% OWNERSHIP INTEREST IN BAJO SEXTO. TRANSACTION AMOUNT IS CMF'S CURRENT YEAR EARNINGS FROM BAJO SEXTO. 0 X 1 33372 SELLING PRICE X 75 0 X 17 34411 REPLACEMENT COSTS X RENTALS 25 138628 SELLING PRICE 0 1 0 PART I, LINE 33: IN ACCORDANCE WITH PROFESSIONAL STANDARDS, THE ORGANIZATION HAS ELECTED THAT CERTAIN OBJECTS ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE ASSOCIATION'S INCEPTION NOT BE VALUED ON THE BALANCE SHEET. THE COST OF SUCH OBJECTS PURCHASED ARE REFLECTED AS PROGRAM EXPENSES AND TREATED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR AS DECREASES IN NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. PROCEEDS FROM THE SALE OF ANY DEACCESSIONED ITEMS ARE CLASSIFIED AS TEMPORARILY RESTRICTED NET ASSETS, TO BE APPLIED TOWARD FUTURE COLLECTION ACQUISITIONS. THE VALUE OF COLLECTION ITEMS CONTRIBUTED EACH YEAR BY DONORS IS NOT RECORDED IN THE FINANCIAL STATEMENTS. SCHEDULE M, PART I, COLUMN (B): PART 1, COLUMN (B) REPRESENTS AN ESTIMATE OF THE NUMBER OF CONTRIBUTORS, EXCEPT FOR COLLECTIBLES WHICH ARE THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 2 ERNEST WILLIAMS III, DIRECTOR, AND KYLE YOUNG, CEO, HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEE MEETINGS OF THE BOARD ARE LESS FORMAL, BUT A WRITTEN AGENDA IS PREPARED IN ADVANCE FOR EACH MEETING. SIGNIFICANT DECISIONS MUST STILL BE APPROVED BY THE FULL VOTING BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION DOES NOT PROVIDE A COPY OF ITS FORM 990 TO THE ENTIRE GOVERNING BOARD PRIOR TO FILING. HOWEVER THE EXECUTIVE VP OF FINANCES AND OPERATIONS REVIEWS A DRAFT OF THE FORM 990 WITH THE FINANCE COMMITTEE BOARD CHAIR PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES EACH BOARD MEMBER TO REVIEW ITS ETHICS AND CONFLICTS OF INTEREST POLICY PERIODICALLY AND SIGN A STATEMENT DISCLOSING ANY CONFLICTS OF INTEREST. IF IT IS DETERMINED THAT A BOARD MEMBER MAY HAVE A CONFLICT OF INTEREST RELATED TO AN ISSUE UNDER CONSIDERATION BY THE BOARD, THAT BOARD MEMBER DOES NOT PARTICIPATE IN ANY DISCUSSION OR VOTING ON THAT ISSUE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE MEETS AND REVIEWS ANNUALLY THE CEO COMPENSATION FOR MARKET AND/OR SIMILAR ORGANIZATIONS. FOR OTHER KEY EMPLOYEES, INCLUDING MEMBERS OF THE SENIOR STAFF TEAM, MANAGEMENT COMPARES PUBLISHED DATA FROM OTHER NONPROFITS AND/OR CONSULTS WITH HUMAN RESOURCE CONSULTANTS REGARDING MARKET SALARY RANGES. THE EXECUTIVE COMMITTEE ALSO REVIEWS SENIOR STAFF SALARIES PERIODICALLY. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. HALL OF FAME GRILL AND CATERING LLC 222 5TH AVE SOUTH NASHVILLE TN 37203 270146678 OPERATION OF RESTAURANT IN MUSEUM/CATERING EVENTS AND VENUE RENTALS TN 11183136 944521 COUNTRY MUSIC FOUNDATION HALL OF FAME SONGS LLC 222 5TH AVE SOUTH NASHVILLE TN 37203 MUSIC PUBLISHING TN 0 0 COUNTRY MUSIC FOUNDATION FOOD ON FIFTH LLC 222 5TH AVE SOUTH NASHVILLE TN 37203 472394270 OPERATION OF RESTAURANT IN MUSEUM TN LGW LLC UNRELATED 148833 400678 0 0 0.40000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 FOOD ON FIFTH LLC F 170000 REPORTED DISTRIBUTION FROM K-1