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Nonprofiteer
← MUSIC CITY INC

Form 990 for tax year 2022

Filed by MUSIC CITY INC.

Totals

Total revenue
$9,378,368
Total expenses
$9,365,323
Contributions and grants received
$9,168,616
Grants paid
$10,796
Program service revenue
$209,677
Investment income
$75
Other revenue
$0
Total assets, end of year
$1,916,814
Total liabilities, end of year
$1,434,014
Net assets or fund balances, end of year
$482,800
Program services expenses (Part IX)
$9,257,061
Management and general expenses
$58,429
Fundraising expenses
$49,833
Program service expenses (Part III)
$9,257,061

Program services were 98.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $73,550

  • 1e · Government grants (contributions)

    $7,639,360

  • 1f · All other contributions, gifts and grants

    $1,455,706

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Music City New Year's Eve Event

    total $156,137 · related or exempt $156,137 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Music City July 4th Celebration

    total $53,240 · related or exempt $53,240 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Music City Walk of Fame Proceeds

    total $300 · related or exempt $300 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $75 · related or exempt $0 · unrelated business $0 · excluded $75

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $796 · program services $796

  • 2 · Grants to domestic individuals

    total $10,000 · program services $10,000

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 11c · Fees: accounting

    total $7,000 · management and general $7,000

  • 13 · Office expenses

    total $3,767 · program services $2,172 · management and general $1,595

  • 17 · Travel

    total $40 · program services $40

  • 19 · Conferences, conventions and meetings

    total $8,921,070 · program services $8,871,237 · fundraising $49,833

  • 22 · Depreciation, depletion and amortization

    total $36,592 · management and general $36,592

  • 24a · Other expenses: Jefferson St Elks Lodge Bldg Restoration

    total $262,654 · program services $262,654 · management and general $0 · fundraising $0

  • 24b · Other expenses: Music City Walk of Fame Maintenance

    total $64,062 · program services $64,062 · management and general $0 · fundraising $0

  • 24c · Other expenses: Hosting Nat'l Black Caucus LEO Meeting

    total $46,100 · program services $46,100 · management and general $0 · fundraising $0

  • 24d · Other expenses: Taxes and licenses

    total $13,242 · program services $0 · management and general $13,242 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $156,974 · end of year $49,907

  • 7 · Other notes and loans receivable

    beginning of year $13,311 · end of year $7,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,568,209 · end of year $1,797,145

  • 10a · Land, buildings and equipment: cost or other basis

    $185,462

  • 10b · Land, buildings and equipment: accumulated depreciation

    $122,700

  • 10c · Land, buildings and equipment, net

    beginning of year $99,354 · end of year $62,762

  • 17 · Accounts payable and accrued expenses

    beginning of year $252,224 · end of year $362,223

  • 19 · Deferred revenue

    beginning of year $1,115,869 · end of year $926,450

  • 25 · Other liabilities

    beginning of year $0 · end of year $145,341

  • 27 · Net assets without donor restrictions

    beginning of year $469,755 · end of year $482,800

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

Enhance the music environment of Nashville and lessen the burden on government by producing music related events and other related services for the general public, and providing event related supplies and services to the Metro Government of Nashville.

Activities or mission (Part I)

Enhance the music environment of Nashville by providing music-related events and services to the general public and to the Metropolitan Government of Nashville

  • Produced the annual public New Year's Eve event - Nashville's Big Bash, providing free live music and fireworks for the general public to bring the city together and celebrate the transition into the new year.

    Expenses $5,104,313 · Revenue $156,137

  • Produced the annual free public July 4th concert and fireworks display on behalf of the city of Nashville at Riverfront Park in downtown Nashville.

    Expenses $3,027,913 · Revenue $53,240

  • On behalf of the Metropolitan Government of Nashville, produced multiple live music entertainment events that were free and open to the public to bring together the citizens of the city to celebrate the success of local professional and amateur sports teams.

    Expenses $516,942

  • Completed the restoration and renovation of the historic building on Jefferson Street in Nashville that served as the home to historic Club Baron, where many prominent black entertainers performed in the mid 20th century.

    Expenses $263,451

  • Provided physical site maintenance and new induction ceremonies for the Music City Walk of Fame, which memorializes and celebrates individuals and groups that have made a significant impact on the music industry and culture of the city.

    Expenses $195,500 · Revenue $300

  • Served as the fiscal agent for the local host committee for the 2022 National Black Caucus - Local Elected Officials annual conference, which was held in Nashville.

    Expenses $136,859

  • Provided support to the widow of a local historic music icon who has been essential in carrying the Music City brand around the world through music.

    Expenses $10,000 · Grants $10,000 · Revenue $10,000

  • Provided communications services and other event production assistance to the Metropolitan Government of Nashville.

    Expenses $2,083

  • Worked with the Career Academies of Nashville, particularly on the hospitality career path. This career path is included in 5 high schools throughout Metro Nashville, and encourages students to consider hospitality as a career by incorporating career elements into current curriculum and providing them hands-on training and experience at industry businesses. This academy is particularly important to the industry as it will help provide a steady stream of prepared candidates into the workforce for current businesses to support our growing capacity.

As filed on the 2022 return.

Listed in Part VII

  • Christopher Spyridon

    Board Member/CEO

    Total calculated
    $1,380,539
    From this org
    $0
    From related orgs
    $1,095,523
    Other
    $285,016
    Hours/week
    8 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $554,416 related
    Bonus
    $0 + $519,167 related
    Other
    $0 + $21,940 related
    Deferred
    $0 + $268,300 related
    Nontaxable benefits
    $0 + $16,716 related
    Filer's total
    $0 + $1,380,539 related
  • Deana Ivey

    Board Member/President

    Total calculated
    $488,453
    From this org
    $0
    From related orgs
    $448,793
    Other
    $39,660
    Hours/week
    8 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $341,915 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $6,878 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $21,360 related
    Filer's total
    $0 + $488,453 related
  • Jeff Mefford

    Board Member/CFO

    Total calculated
    $308,547
    From this org
    $0
    From related orgs
    $272,694
    Other
    $35,853
    Hours/week
    8 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $227,593 related
    Bonus
    $0 + $40,000 related
    Other
    $0 + $5,101 related
    Deferred
    $0 + $16,657 related
    Nontaxable benefits
    $0 + $19,196 related
    Filer's total
    $0 + $308,547 related
  • Mary Arnold

    Board Member

    Total calculated
    $240,412
    From this org
    $0
    From related orgs
    $203,046
    Other
    $37,366
    Hours/week
    8 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $164,030 related
    Bonus
    $0 + $35,000 related
    Other
    $0 + $4,016 related
    Deferred
    $0 + $10,855 related
    Nontaxable benefits
    $0 + $26,511 related
    Filer's total
    $0 + $240,412 related
  • Doug Kreulen

    Board Member/Chair

    Total calculated
    $0
    Hours/week
    4
  • Laura Hollingsworth

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Jeff Pennington

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Hugh Anderson

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Greg Hill

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Mignon Francois

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Seamus Ross

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Sally Williams

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Fabrizio Calvo

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Dr Turner Nashe

    Board Member

    Total calculated
    $0
    Hours/week
    1
  • Molly Shehan

    Board Member

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3
No compensation was paid by the reporting organization.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
28 March 2024
IRS schema version
2022v5.0
Source object
202440889349301504

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