2023-11-14T16:53:48-06:00 2022-12-31 620713250 KRAFTCPAS PLLC 555 GREAT CIRCLE ROAD NASHVILLE TN 37228 990 2022-01-01 620753887 COUNTRY MUSIC FOUNDATION INC COUN 6154162043 222 REP JOHN LEWIS WAY S NASHVILLE TN 37203 NINA BURGHARD SR.VP OF FINANCIAL SVCS/OPER 6154162043 2023-11-14 1 NINA BURGHARD 999009999 1 FRANCES E LEAHY P00713593 6152427351 2023-11-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z COUNTRY MUSIC HALL OF FAME AND MUSEU KYLE YOUNG 222 REP JOHN LEWIS WAY S NASHVILLE TN 37203 60280693 0 X WWW.COUNTRYMUSICHALLOFFAME.ORG X 1964 TN IDENTIFY & PRESERVE THE EVOLVING HISTORY & TRADITIONS OF COUNTRY MUSIC & TO EDUCATE ITS AUDIENCES. 10 10 426 145 15889873 382442 14409144 8464370 23765479 40773498 83703 672492 3984856 6127528 42243182 56037888 0 0 0 0 13508306 18617699 0 0 2207317 14401485 21100559 27909791 39718258 14333391 16319630 117612886 134685329 24261685 22941931 93351201 111743398 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 34623658 31011153 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 1.5 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 18 EXHIBITS CURATED AND PRESENTED, THE MUSEUM INTERPRETS ITS COLLECTION WITH SUPPORT OF THE MORE THAN 1,150 ON-SITE AND VIRTUAL EDUCATIONAL PROGRAMS IN 2022. 34623658 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 0 0 0 1 259 0 1 426 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 10 10 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 CHAIRMAN OF THE BOARD 8.00 X X 0 0 0 AL GIOMBETTI EXECUTIVE VICE PRESIDENT O 2.00 X X 0 0 0 DAVID ROSS SECRETARY OF THE BOARD 2.00 X X 0 0 0 ERNEST WILLIAMS III TREASURER OF THE BOARD 2.00 X X 0 0 0 DAVID CONRAD TRUSTEE 1.00 X 0 0 0 MARK BLOOM 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 J WILLIAMS DENNY TRUSTEE 1.00 X 0 0 0 ROD ESSIG TRUSTEE 1.00 X 0 0 0 KYLE YOUNG CEO 55.00 X 836539 0 13317 NINA BURGHARD SR. VP FINANCIAL SERVICES A 55.00 X 288740 0 12347 LISA DAVIS SR. VP EXTERNAL AFFAIRS 55.00 X 233789 0 9391 MARK DE LELYS VP REVENUE 40.00 X 215130 0 10203 HERNANDO RODRIGUEZ SR. DIRECTOR OF EVENTS & C 40.00 X 197882 0 6767 JOHNNY CUNNINGHAM SR. DIRECTOR OF INFORMATION 40.00 X 179139 0 5027 BRENDA COLLADAY VP MUSEUM SERVICES 40.00 X 150742 0 6879 WARREN DENNY VP CREATIVE 40.00 X 147889 0 6767 TORI TARVIN SR DIRECTOR OF MARKETING 40.00 X 139680 0 8261 2389530 0 78959 18 0 1 0 PLEASE BE SEATED 7119 CENTENNIAL BLVD NASHVILLE TN 37209 EVENT RENTALS 672621 UNITED DATA TECHNOLOGIES 2900 MONARCH LAKES BOULEVARD SUITE MIRAMAR FL 33027 DIGITAL ADVERTISING AND SOCIAL MEDIA 669011 GARDAWORLD SECURITY SERVICES 1699 S HANLEY RD SUITE 350 ST LOUIS MO 63144 SECURITY SERVICES 501829 VIP PRODUCTION LLC 717 BRISKBERRY CT NASHVILLE TN 37221 DIGITAL ADVERTISING AND SOCIAL MEDIA 318856 ALLIED UNIVERSAL SECURITY SERVICES PO BOX 828854 PHILADELPHIA PA 191828854 SECURITY SERVICES 284561 28 3698037 4766333 102566 8464370 ADMISSION FEES 900099 22383446 22383446 RESTAURANT AND CATERING REVENUE 722100 10788328 1227267 9561061 EVENT REVENUE 900099 7601724 3230394 4371330 40773498 598951 598951 115945 42404 73541 73541 73541 9261281 4200401 5060880 3654008 1406872 OTHER REVENUE 900099 1066648 516038 550610 1066648 56037888 31011153 15889873 672492 1619456 762451 404864 452141 14752248 12726150 1046174 979924 92854 74716 8033 10105 938520 705053 115232 118235 1214621 909266 151828 153527 77710 69232 6217 2261 50861 45311 4069 1481 31106 31106 591379 526856 47301 17222 1464360 1304589 117127 42644 1564354 1393683 125148 45523 377494 336309 30200 10985 3087801 2742287 253294 92220 28221 22074 3832 2315 5877 5237 470 170 328732 292867 26299 9566 4729499 4213511 378360 137628 UNRELATED BUSINESS INCO 59874 59874 EVENT EXPENSE 5680476 5680476 EXHIBITS 1272310 1272310 OTHER EMPLOYEE EXPENSES 701286 624776 56103 20407 1049219 856630 81626 110963 39718258 34623658 2887283 2207317 46806705 22344217 1818632 2064798 724817 812947 1245615 1571033 353605 581959 100826526 54217074 61760122 46609452 4840581 43244396 62809 284784 0 17171743 117612886 134685329 3005565 3237747 2033220 1806228 50000 50000 450000 375000 2000000 16722900 17472956 24261685 22941931 X 87494862 106265671 5856339 5477727 93351201 111743398 117612886 134685329 16319630 -1446226 3518793 0 X X 0 1 X 1 1 1 X 3164719 1790541 2626085 14409144 8464370 30454859 3164719 1790541 2626085 14409144 8464370 30454859 447296 30007563 323226 695558 366991 94143 598951 2078869 292517 186636 48890 382443 910486 1259548 1305081 1229164 631135 516038 4940966 38385180 66539125 0.78170 0.74740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 4846026 39018782 -400578 183352 31027 43249851 4015693 1025674 167241 28100 4846026 3734879 20000 451017 166901 23302 4015693 3122145 798026 162333 22959 3734879 3372722 -95848 131756 22973 3122145 0.91188 0.05284 0.03528 1 0 3926300 3926300 68184843 34604704 33580139 13564100 10458850 3105250 15151283 9153520 5997763 46609452 RIGHT-OF-USE ASSET 17171743 17171743 FINANCE LEASE LIABILITY 17472956 17472956 X 56839921 -1446226 78964 -1367262 58207183 -2169295 -2169295 56037888 43966517 78964 78964 43887553 -4169295 -4169295 39718258 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, AND PERSONAL 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 2022 IS $130,398 ($138,690 IN 2021). 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, AND PERSONAL 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 -4,200,401. SECOND PPP LOAN FORGIVEN IN 2022 2,000,000. RECLASS INVESTMENT FEES 31,106. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD RECLASS -4,200,401. RECLASS INVESTMENT FEES 31,106. 1 X X 0 0 0 0 0 0 0 0 0 KYLE YOUNG CEO 775962 0 60577 0 0 0 9150 0 4167 0 849856 0 0 0 NINA BURGHARD SR. VP FINANCIAL SERVICES A 267336 0 21404 0 0 0 8180 0 4167 0 301087 0 0 0 LISA DAVIS SR. VP EXTERNAL AFFAIRS 216020 0 17769 0 0 0 5224 0 4167 0 243180 0 0 0 MARK DE LELYS VP REVENUE 199568 0 15562 0 0 0 6036 0 4167 0 225333 0 0 0 HERNANDO RODRIGUEZ SR. DIRECTOR OF EVENTS & C 183601 0 14281 0 0 0 2600 0 4167 0 204649 0 0 0 JOHNNY CUNNINGHAM SR. DIRECTOR OF INFORMATION 165677 0 13462 0 0 0 5027 0 0 0 184166 0 0 0 BRENDA COLLADAY VP MUSEUM SERVICES 139396 0 11346 0 0 0 2712 0 4167 0 157621 0 0 0 WARREN DENNY VP CREATIVE 136985 0 10904 0 0 0 2600 0 4167 0 154656 0 0 0 ERNIE WILLIAMS BOARD MEMBER AND MEMBER OF ENDOWMENT INVESTMENT MANAGER 31106 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 550610 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 31661 SELLING PRICE X 94 0 X 3248 25104 REPLACEMENT COSTS X RENTALS 19022 70844 SELLING PRICE X PIANO 1 6618 FAIR VALUE 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 SR. VP OF FINANCIAL SERVICES 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 CEO COMPENSATION FOR SIMILAR ORGANIZATIONS. FOR OTHER KEY EMPLOYEES, MANAGEMENT COMPARES PUBLISHED DATA FROM OTHER NONPROFITS AND CONSULTS WITH HUMAN RESOURCE CONSULTANTS REGARDING MARKET SALARY RANGES. 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 6542224 1271390 COUNTRY MUSIC FOUNDATION FOOD ON FIFTH LLC 222 5TH AVE SOUTH NASHVILLE TN 37203 472394270 OPERATION OF RESTAURANT IN MUSEUM TN LGW LLC UNRELATED 68669 429532 0 0 0.40000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0