Cheekwood
Fiscal Year
Fiscal Year Start
01/01/2024
Fiscal Year End
12/31/2024
Projected Revenue
$16,300,000.00
Projected Expenses
$16,300,000.00
Organizational Budgets and Other Documents
| Cheekwood 2024 Budget | 2024 |
| Cheekwood 2023 Budget | 2023 |
| Cheekwood 2022 Budget | 2022 |
| Cheekwood 2021 Budget | 2021 |
| Cheekwood 2020 Budget | 2020 |
| Cheekwood 2019 Budget | 2019 |
| Cheekwood 2018 Budget | 2018 |
| Cheekwood 2017 Budget | 2017 |
| Cheekwood 2016 Budget | 2016 |
| Cheekwood 2015 Budget | 2015 |
| Cheekwood 2014 budget | 2014 |
| Cheekwood 2013 Budget | 2013 |
| Cheekwood 2012 Budget | 2012 |
| Cheekwood 2011 Budget | 2011 |
| Cheekwood 2010 Budget | 2010 |
| cheekwood 2009 budget | 2009 |
| cheekwood 2008 budget | 2008 |
| cheekwood 2007 budget | 2007 |
| cheekwood 2006 budget | 2006 |
IRS Letter of Exemption
| Cheekwood IRS Letter of Determination |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $18,448,204.00 | $15,349,949.00 | $17,726,545.00 |
| Total Expenses | $17,540,978.00 | $15,475,500.00 | $13,314,768.00 |
| Revenue Less Expenses | $907,226.00 | ($125,551.00) | $4,411,777.00 |
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 | $206,816.00 | $225,868.00 | $201,575.00 |
| Contributions, Gifts, and Grants | $5,291,091.00 | $4,530,249.00 | $3,868,792.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $9,201,875.00 | $7,755,702.00 | $8,082,892.00 |
| Investment Income, Net of Losses | $200,398.00 | $-386,131.00 | $2,177,246.00 |
| Membership Dues | $1,885,929.00 | $2,031,572.00 | $2,009,966.00 |
| Special Events | $1,381,043.00 | $1,022,130.00 | $1,363,237.00 |
| Revenue In-Kind | $69,689.00 | $46,376.00 | $7,887.00 |
| Other | $211,363.00 | $124,183.00 | $14,950.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $14,736,648.00 | $12,775,209.00 | $11,254,959.00 |
| Administration Expense | $1,674,327.00 | $1,649,257.00 | $1,295,300.00 |
| Fundraising Expense | $1,130,003.00 | $1,051,034.00 | $764,509.00 |
| Total Revenue/Total Expenses | 105% | 99% | 133% |
| Program Expense/Total Expenses | 84% | 83% | 85% |
| Fundraising Expense/Contributed Revenue | 6% | 7% | 6% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Program Revenue $9,201,875.00 | Program Revenue $7,755,702.00 | Program Revenue $8,082,892.00 |
| Second Highest Funding Source & Dollar Amount | Contributions, Gifts, and Grants $5,291,091.00 | Contributions, Gifts, and Grants $4,530,249.00 | Contributions, Gifts, Grants $3,868,792.00 |
| Third Highest Funding Source & Dollar Amount | Membership Dues $1,885,929.00 | Fundraising Events $1,022,130.00 | Membership Dues $2,009,966.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $58,845,548.00 | $55,900,630.00 | $58,316,106.00 |
| Current Assets | $12,326,785.00 | $11,748,476.00 | $10,825,025.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $4,501,270.00 | $4,611,126.00 | $3,845,703.00 |
| Total Net Assets | $54,344,278.00 | $51,289,504.00 | $54,470,403.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$18,900,000.00
What is the spending policy for your endowment?
Percentage
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
June
Permit Expiration Year
2025
Solicitations Permit
Form 990s
| Cheekwood 2023 990 | 2023 |
| Cheekwood 2022 990 | 2022 |
| Cheekwood 2021 990 | 2021 |
| Cheekwood 2020 990 | 2020 |
| Cheekwood 2019 990 | 2019 |
| Cheekwood 2018 990 | 2018 |
| Cheekwood 2017 990 | 2017 |
| Cheekwood 2016 990 | 2016 |
| Cheekwood 2015 990 | 2015 |
| Cheekwood 2014 990 | 2014 |
| Cheekwood 2013 990 | 2013 |
| Cheekwood 2012 990 | 2012 |
| Cheekwood 2011 990 | 2011 |
| Cheekwood 2010 990 | 2010 |
| Cheekwood 2009 990 | 2009 |
| cheekwood 2008 990 | 2008 |
| cheekwood 2007 990 | 2007 |
| cheekwood 2006 990 | 2006 |
| cheekwood 2005 990 | 2005 |
Audit Documents
| Cheekwood 2023 Audit | 2023 |
| Cheekwood 2022 Audit | 2022 |
| Cheekwood 2021 Audit | 2021 |
| Cheekwood 2020 Audit | 2020 |
| Cheekwood 2019 Audit | 2019 |
| Cheekwood 2018 Audit | 2018 |
| Cheekwood 2017 Audit | 2017 |
| Cheekwood 2016 Audit | 2016 |
| Cheekwood 2015 Audit | 2015 |
| Cheekwood 2014 Audit | 2014 |
| Cheekwood 2013 Audit | 2013 |
| Cheekwood 2012 Audit | 2012 |
| Cheekwood 2011 Audit | 2011 |
| Cheekwood 2010 Audit | 2010 |
| Cheekwood 2009 Audit | 2009 |
| cheekwood 2008 audit | 2008 |
| cheekwood 2007 audit | 2007 |
| cheekwood 2006 audit | 2006 |
| cheekwood 2005 audit | 2005 |
CEO/Executive Director/Board Comments
| The Cheekwood Estate was an incredible gift to the community, providing Nashville with its own national treasure. However, as the estate was gifted without an endowment, the institution has often been financially challenged to meet annual operational goals while preserving its museum, historic structures, and gardens. To address this need, The Cheekwood Campaign was launched in 2016 to raise endowment, fund strategic projects, and provide resources for deferred maintenance to facilities and gardens. The campaign was completed in 2021 with $37M raised and Cheekwood's endowment has grown from $4.8M (pre-Campaign) to $18M, providing for a more secure financial future. Cheekwood's dynamic seasonal festivals, family-oriented programming and world class art exhibitions have generated record-setting attendance and a 20,000-household membership base. Welcoming over one million visitors in the last three years, while yielding positive operating results for investment in deferred restoration and capital needs, the institution continues to serve the community, including thousands who visit free of charge each year as a place of beauty and a respite for renewal and rejuvenation. |
Foundation Staff Comments
| Financial figures taken from Form 990. Foundation and corporate grants may be included in Contributions, Gifts, and Grants sum, as these amounts are not separated in Form 990. Financials completed by Kraft CPAs PLLC. Comment provided by Hayley Sulfridge 7/10/24. |
