Friends of Shelby Park, Inc.
Fiscal Year
Fiscal Year Start
01/01/2024
Fiscal Year End
12/31/2024
Projected Revenue
$523,540.00
Projected Expenses
$523,740.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| Friends of Shelby Park IRS Letter |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $1,019,578.00 | $368,098.00 | $271,071.00 |
| Total Expenses | $537,272.00 | $237,877.00 | $196,296.00 |
| Revenue Less Expenses | $482,306.00 | $130,221.00 | $74,775.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| 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 | $21,534.00 |
| Contributions, Gifts, and Grants | $704,824.00 | $178,018.00 | $160,006.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $0.00 | $0.00 | $0.00 |
| Investment Income, Net of Losses | $8,659.00 | $165.00 | $0.00 |
| Membership Dues | $0.00 | $44,352.00 | $9,378.00 |
| Special Events | $279,769.00 | $145,563.00 | $80,153.00 |
| Revenue In-Kind | $26,326.00 | $0.00 | $0.00 |
| Other | $0.00 | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $426,927.00 | $189,297.00 | $122,602.00 |
| Administration Expense | $58,165.00 | $25,453.00 | $56,720.00 |
| Fundraising Expense | $52,180.00 | $23,127.00 | $16,974.00 |
| Total Revenue/Total Expenses | 190% | 155% | 138% |
| Program Expense/Total Expenses | 79% | 80% | 62% |
| Fundraising Expense/Contributed Revenue | 10% | 10% | 9% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $704,824.00 | Contributions, Gifts, and Grants $178,018.00 | Contributions, Gifts, Grants $160,006.00 |
| Second Highest Funding Source & Dollar Amount | Fundraising Events $279,769.00 | Fundraising Events $145,563.00 | Fundraising Events $80,153.00 |
| Third Highest Funding Source & Dollar Amount | Noncash Contributions $26,326.00 | Membership Dues $44,352.00 | Government Grants $21,534.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $987,543.00 | $420,957.00 | $289,378.00 |
| Current Assets | $909,802.00 | $416,208.00 | $289,378.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $85,638.00 | $1,358.00 | $0.00 |
| Total Net Assets | $901,905.00 | $419,599.00 | $289,378.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
Yes
Do you anticipate a campaign in the next 5 years?
No
What is the campaign goal?
$18,000,000.00
What is the purpose of the capital campaign?
Friends of Shelby Park and Bottoms and the Arts & Business Council of Greater Nashville have partnered in a unique collaborative campaign to revitalize the U.S. Naval Reserve Training Center, a historic community asset located on the western entrance to Shelby Park and Bottoms, and to reimagine it as Shelby Commons, a new parks, arts, and cultural center for all of Nashville to experience.
https://www.friendsofshelby.org/shelby-commons
Campaign Start
January 2023
Campaign End
December 2026
Campaign Raised to Date Month
January
Campaign Raised to Date Year
2024
Campaign Raised to Date Amount
$4,000,000.00
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
June
Permit Expiration Year
2025
Solicitations Permit
Form 990s
Audit Documents
| 2023 Friends of Shelby Audit | 2023 |
Foundation Staff Comments
| Financial figures taken from Form 990. Form 990 was prepared internally by the nonprofit. Comments provided by Hayley Sulfridge 7/29/24. |
