Arts & Business Council of Greater Nashville Inc.
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615-460-8274
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1900 Belmont Blvd.
Nashville, TN 37212
Organization Details

Fiscal Year

Fiscal Year Start

07/01/2023

Fiscal Year End

06/30/2024

Projected Revenue

$492,140.00

Projected Expenses

$491,490.00

Organizational Budgets and Other Documents

Arts & Business Council Budget FY24 2024
Arts & Business Council Budget FY23 2023
Arts & Business Council Budget FY22 2022
Arts & Business Council Budget FY21 2021
Arts & Business Council Budget FY20 2020
Arts & Business Council Budget FY19 2019
Arts & Business Council Budget FY18 2018
Arts & Business Council Budget FY17 2017
Arts & Business Council Budget FY16 2016
Arts & Business Council Budget FY15 2015
Arts & Business Council Budget FY14 2014
Arts & Business Council Budget FY13 2013
Arts & Business Council Budget FY12 2012
Arts & Business Council of Greater Nashville FY2011 Budget 2011
arts & business council of greater nashville 2010 budget 2010
tennessee volunteer lawyers for the arts 2008 budget 2008
tennessee volunteer lawyers for the arts 2007 budget 2007

IRS Letter of Exemption

arts & business council of greater nashville irs ltr

Detailed Financials

Revenue and Expenses
Fiscal Year202320222021
Total Revenue $543,517.00$438,491.00$524,893.00
Total Expenses $449,566.00$326,025.00$132,793.00
Revenue Less Expenses $93,951.00$112,466.00$392,100.00

Revenue Sources
Fiscal Year202320222021
Foundation and Corporation Contributions $292,490.00$191,850.00$337,550.00
Government - Federal $0.00$0.00$0.00
Government - State $0.00$0.00$0.00
Government - Local $0.00$0.00$0.00
Government - Unspecified $0.00$0.00$0.00
Contributions, Gifts, and Grants $218,293.00$210,173.00$83,726.00
Indirect Public Support $0.00$0.00$0.00
Earned Revenue $22,069.00$29,066.00$95,615.00
Investment Income, Net of Losses $2,770.00$307.00$241.00
Membership Dues $7,895.00$7,095.00$7,761.00
Special Events $0.00$0.00$0.00
Revenue In-Kind $0.00$0.00$0.00
Other $0.00$0.00$0.00

Expense Allocation
Fiscal Year202320222021
Program Expense $360,417.00$239,635.00$390,188.00
Administration Expense $66,019.00$57,043.00$54,803.00
Fundraising Expense $23,130.00$29,347.00$21,976.00
Total Revenue/Total Expenses 121%134%112%
Program Expense/Total Expenses 80%74%84%
Fundraising Expense/Contributed Revenue 5%9%5%

Top Funding Sources
Fiscal Year202320222021
Top Funding Source & Dollar Amount Foundation and Corporations
$292,490.00
Contributions, Gifts, Grants
$210,173.00
Foundations and Corporations
$337,550.00
Second Highest Funding Source & Dollar Amount Contributions, Gifts, and Grants
$218,293.00
Program Revenue
$29,066.00
Program Revenue
$95,615.00
Third Highest Funding Source & Dollar Amount Program Revenue
$22,069.00
Membership Dues
$7,095.00
Contributions, Gifts, and Grants
$83,726.00

Assets and Liabilities
Fiscal Year202320222021
Total Assets $550,293.00$469,042.00$392,931.00
Current Assets $550,293.00$469,042.00$392,931.00
Long-Term Liabilities $0.00$0.00$0.00
Current Liabilities $85,018.00$84,729.00$132,793.00
Total Net Assets $465,275.00$371,324.00$392,931.00

Endowment Info

Do you have an endowment?

No

Capital Campaign Info

Are you currently in a Capital Campaign?

No

Do you anticipate a campaign in the next 5 years?

Yes

Solicitation Permit Info

State Charitable Solicitations Permit

Yes

Permit Expiration Month

December

Permit Expiration Year

2024

Form 990s

Arts & Business Council of Greater Nashville Inc. FY2023 990 2023
Arts & Business Council of Greater Nashville Inc2022 990 2022
Arts & Business Council of Greater Nashville Inc FY2021 990 2021
Arts & Business Council of Greater Nashville Inc FY2020 990 2020
Arts & Business Council of Greater Nashville Inc 2019 990 2019
Arts & Business Council of Greater Nashville Inc 2018 990-EZ 2018
Arts & Business Council of Greater Nashville Inc 2017 990-EZ 2017
Arts & Business Council of Greater Nashville Inc 2016 990-EZ 2016
Arts & Business Council of Greater Nashville Inc 2015 990-EZ 2015
Arts & Business Council of Greater Nashville Inc 2014 990-EZ 2014
Arts & Business Council of Greater Nashville Inc 2013 990 2013
Arts & Business Council of Greater Nashville Inc 2012 990 2012
Arts & Business Council of Greater Nashville Inc 2011 990 2011
arts & business council of greater nashville inc 2010 990 2010
arts & business council 2009 990 short return (change in fiscal year) 2009
tennessee volunteer lawyers for the arts 2008 990 2008
tennessee volunteer lawyers for the arts 2007 990 2007
tennessee volunteer lawyers for the arts 2006 990 2006

Audit Documents

Arts & Business Council FY23 Audited Financials 2023
Arts & Business Council FY22 Audited Financials 2022
Arts & Business Council 2021 Audited Financials 2021
Arts & Business Council 2020 Audited Financials 2020
Arts & Business Council 2019 Audited Financials 2019
Arts & Business Council Financial Statement Review FY2018 2018
Arts & Business Council Financial Statement Review FY2017 2017
Arts & Business Council Financial Statement Review FY2016 2016
Arts & Business Council Financial Statement FY15 2015
Arts & Business Council Financial Review FY2014 2014
Arts & Business Council of Greater Nashville Inc 2013 Financial Review 2013
Arts & Business Council of Greater Nashville Inc 2012 Audited Financials 2012

CEO/Executive Director/Board Comments


The 2006-08 financial information and 990s are from Tennessee Volunteer Lawyers for the Arts (TNVLA). The Arts & Business Council (ABC) merged with TNVLA effective 2/1/09. The first 990 to reflect merged numbers was filed in Fall 2009. With the merger, ABC also transitioned from a calendar year to a July-June fiscal year. The 2010 990 reflects the first complete combined year following the merger.
In December 2010, the Arts & Business Council entered into an arrangement with Nashville Folk & Roots ('NFR') a Tennessee nonprofit public benefit corporation to serve as a fiscal sponsor. NFR was organized to present the National Folk Festival (the 'Festival') in Nashville in September 2011. For this reason, the FY11 and FY12 financial statements reflect significant amounts of income and expenses relating to the Festival. Arts & Business Council figures remained steady at around $300,000 per year income and expenses.
In January 2013, Arts & Business Council entered into a partnership with Belmont University to operate as a nonprofit-in-residence on campus. This helped reduce overhead expenses and, together with a renewed focus on impactful programming, reduced the overall budget to around $150,000 annually.
Starting in FY16, ABC worked to build up a small reserve of $50,000 over three years, which was achieved in FY19.
In FY17, ABC piloted a Fiscal Sponsorship program which saw 13 projects come under ABC's management. The fundraising activities of the Fiscally Sponsored projects have an impact on the 990 forms and financial statements, but are not accounted for in ABC's budget projections as this received revenue is paid out to each project, and does not affect ABC's core operating budget or activities. For example, the revenue and expenses spike between 2016 and 2018 is due to a number of fiscally sponsored projects receiving large five- and six-figure grants. During the year ended June 30, 2018, expenditures of funds from fiscally sponsored projects accounted for $59,838 of the organization's total excess of total cash disbursements over total cash receipts of $72,810.

Foundation Staff Comments


Financial Figures are taken from Form 990.990 prepared by Bellefant, PLLC. Comments provided by Hayley Sulfridge 2/16/24.