Form 990 for tax year 2023

Totals

Total revenue

$2,334,272

Total expenses

$3,920,114

Contributions and grants received

$2,045,309

Grants paid

$2,603,794

Program service revenue

$0

Investment income

$135,973

Other revenue

$152,990

Total assets, end of year

$27,849,267

Total liabilities, end of year

$5,767,468

Net assets or fund balances, end of year

$22,081,799

Program services expenses (Part IX)

$3,068,605

Management and general expenses

$273,180

Fundraising expenses

$578,329

Program service expenses (Part III)

$3,068,605

Program services were 78.3% 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.

Mission and programs · 2023

• OPERATING SUPPORT GRANTS: ARTSMEMPHIS, THROUGH THIS CORNERSTONE GRANT PROGRAM, NURTURES SMALL, COMMUNITY-BASED ARTS ORGANIZATIONS AND SUPPORTS LARGER ORGANIZATIONS THAT CREATE THE SEEDS FOR NEW INITIATIVES AND LEND STABILITY TO THE OVERALL ARTS LANDSCAPE. ARTSMEMPHIS SEEKS TO ENABLE ALL EFFECTIVE ARTS ORGANIZATIONS TO SUCCEED. WE RECOGNIZE THAT UNRESTRICTED OPERATING SUPPORT IS THE MOST VALUABLE FUNDING THAT AN ARTS ORGANIZATION CAN RECEIVE AND THE MOST DIFFICULT TYPE OF FUNDING TO RAISE.

  Expenses $1,407,627 · Grants $1,194,409

• ARTSASSIST GRANTS: THESE ARE UNRESTRICTED GRANTS FOR ARTISTS, TO SUPPORT THE EXPANSION AND INNOVATION OF QUALITY ARTISTIC WORK. ARTSMEMPHIS RECOGNIZES THE RISK TAKING THAT IS NECESSARY TO ADVANCE AN ARTIST'S VISION, PRACTICE, AND ARTISTIC ACCOMPLISHMENTS. THE ARTSASSIST GRANT PROGRAM ENABLES ARTSMEMPHIS TO DEMONSTRATE THE VALUE OF ARTISTS' WORK TO OUR REGION BY SUPPORTING WORKING ARTISTS IN THEIR ARTISTIC PRACTICE. THIS PROGRAM CONTRIBUTES TO THE VITALITY OF OUR ARTISTIC COMMUNITY AND HELPS MEMPHIS ATTRACT AND RETAIN A VIBRANT CREATIVE CLASS. THROUGH THIS PROGRAM, WE HONOR THE WORK OF SEASONED ARTISTS, ADVANCE THE WORK OF MID-CAREER ARTISTS, AND NURTURE THE WORK OF EMERGING ARTISTS.

  Expenses $108,423 · Grants $92,000

• ENHANCEMENT GRANTS: THE PURPOSE OF THESE GRANTS, WHICH COME FROM A SPECIFIC FUND OF OUR ENDOWMENT, IS TO BUILD AN ORGANIZATION'S LONG-TERM CAPACITY, INCREASE LONG-TERM EARNED INCOME STREAMS, CATALYZE AND ASSIST AN ORGANIZATION IN GOING TO THE NEXT LEVEL, AND/OR FUND VENTURE CAPITAL/RISK-TAKING INITIATIVES WITH POTENTIAL FOR RETURN ON INVESTMENT AND BROAD COMMUNITY IMPACT.

  Expenses $418,372 · Grants $355,000

• PROJECT GRANTS: THESE GRANTS ARE GIVEN TO GRANTEES FOR SPECIFIC PROJECTS EXECUTED BY THE GRANTEES. THESE GRANTS INCLUDE:ARTSFIRST - (FUNDED BY FIRST HORIZON FOUNDATION AND ADMINISTERED BY ARTSMEMPHIS) - ARTSFIRST GRANTS ENRICH THE ARTS IN MEMPHIS. FUNDING IS DETERMINED BY A GRANT PANEL COMPOSED OF FIRST HORIZON FOUNDATION REPRESENTATIVES.ARTSZONE - (FUNDED BY AUTOZONE AND ADMINISTERED BY ARTSMEMPHIS) - ARTSZONE GRANTS ENRICH THE ARTS IN MEMPHIS. FUNDING IS DETERMINED BY A GRANT PANEL COMPOSED OF AUTOZONE REPRESENTATIVES.BELZ FAMILY FOUNDATION GRANTS - (FUNDED BY THE BELZ FOUNDATION)ARTS BUILD COMMUNITIES - (FUNDED BY TENNESSEE ARTS COMMISSION) - ABC GRANTS PROVIDE SUPPORT FOR PROJECTS THAT BROADEN ACCESS TO ARTS EXPERIENCES, ADDRESS COMMUNITY QUALITY OF LIFE ISSUES THROUGH THE ARTS, OR ENHANCE THE SUSTAINABILITY OF ASSET-BASED CULTURAL ENTERPRISES.FEDEX - (FUNDED BY FEDEX AND ADMINISTERED BY ARTSMEMPHIS) - FEDEX GRANTS ENRICH THE ARTS IN MEMPHIS. FUNDING IS DETERMINED BY A GRANT PANEL COMPOSED OF FEDEX REPRESENTATIVES.RECOVERY FUNDS - TO PROVIDE FUNDING AND PROGRAMS FOR INDIVIDUAL ARTISTS AND ARTS ORGANIZATIONS TO FACILITATE RECOVERY FROM THE COVID-19 PANDEMIC.

  Expenses $1,134,183 · Grants $962,385

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

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

• OPERA MEMPHIS

  $80,200

  OPERATING SUPPORT

• MEMPHIS BROOKS MUSEUM OF ART

  $80,100

  OPERATING SUPPORT

• SOULSVILLE FOUNDATION

  $80,000

  OPERATING SUPPORT

• BALLET MEMPHIS

  $63,700

  OPERATING SUPPORT

• MEMPHIS SYMPHONY ORCHESTRA

  $62,000

  OPERATING SUPPORT

• CIRCUIT PLAYHOUSE INC

  $61,500

  OPERATING SUPPORT

• COLLAGE DANCE COLLECTIVE

  $60,200

  OPERATING SUPPORT

• NEW BALLET ENSEMBLE AND SCHOOL

  $55,000

  OPERATING SUPPORT

• THEATRE MEMPHIS

  $47,000

  OPERATING SUPPORT

• METAL MUSEUM INC

  $40,300

  OPERATING SUPPORT

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type

form_990

Tax year

2023

Filed

12 February 2025

IRS schema version

2023v6.0

Source object

202500439349302100

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.