Cheekwood
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1200 Forrest Park Dr.
Nashville, TN 37205
Organization Details

Fiscal Year

Fiscal Year Start

01/01/2021

Fiscal Year End

12/31/2021

Projected Revenue

$9,391,839.00

Projected Expenses

$9,391,839.00

Organizational Budgets and Other Documents

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 Year201920182017
Total Revenue $11,590,062.00$13,835,965.00$19,277,833.00
Total Expenses $10,579,957.00$10,228,494.00$10,709,480.00
Revenue Less Expenses $1,010,105.00$3,607,471.00$8,568,353.00

Revenue Sources
Fiscal Year201920182017
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 $238,811.00$216,500.00$202,255.00
Individual Contributions $4,576,202.00$6,313,433.00$10,971,874.00
Indirect Public Support $0.00$0.00$0.00
Earned Revenue $4,012,054.00$3,733,896.00$4,836,966.00
Investment Income, Net of Losses $276,356.00$557,230.00$780,468.00
Membership Dues $1,214,048.00$1,130,296.00$1,137,773.00
Special Events $1,159,061.00$1,658,630.00$1,015,600.00
Revenue In-Kind $39,806.00$24,021.00$36,114.00
Other $73,724.00$201,959.00$296,783.00

Expense Allocation
Fiscal Year201920182017
Program Expense $8,798,836.00$8,223,497.00$8,730,932.00
Administration Expense $1,031,611.00$1,135,026.00$798,762.00
Fundraising Expense $749,510.00$869,971.00$1,179,786.00
Total Revenue/Total Expenses 110%135%180%
Program Expense/Total Expenses 83%80%82%
Fundraising Expense/Contributed Revenue 7%9%11%

Top Funding Sources
Fiscal Year201920182017
Top Funding Source & Dollar Amount Contributions, Gifts and Grants
$4,576,202.00
Contributions, Gifts, and Grants
$6,313,433.00
Contributions, Gifts, and Grants
$10,971,874.00
Second Highest Funding Source & Dollar Amount Program Revenue
$4,012,054.00
Program Revenue
$3,733,896.00
Program Revenue
$4,836,966.00
Third Highest Funding Source & Dollar Amount Membership Dues
$1,214,048.00
Fundraising Events
$1,658,630.00
Membership Dues
$1,137,773.00

Assets and Liabilities
Fiscal Year201920182017
Total Assets $48,434,968.00$45,029,516.00$42,611,298.00
Current Assets $9,625,231.00$15,717,613.00$19,025,093.00
Long-Term Liabilities $0.00$0.00$0.00
Current Liabilities $2,992,275.00$1,675,315.00$1,668,439.00
Total Net Assets $45,442,693.00$43,354,201.00$40,942,859.00

Endowment Info

Do you have an endowment?

Yes

What is the value of the endowment?

$18,500,000.00

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

2021

Form 990s

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 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. Through February 2021, more than $29.7M has been raised. Cheekwood's endowment has grown from $4.8M (pre-Campaign) to $18M in 2021, 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 support as well as positive operating results. Cheekwood has strong corporate funding partners and has been growing foundation and government support over the past three years. Membership is at a record level with 19,000 member households.

During 2020, Cheekwood celebrated its 60th anniversary serving as a public institution and hosted the Chihuly at Cheekwood exhibition. This exhibition featured Dale Chihuly's iconic glass artwork throughout Cheekwood's 55-acre campus. Cheekwood was able to successfully navigate COVID-19 through steady attendance and the generous support of public and private funders. Our gardens have been a welcomed activity for residents and visitors looking for a safe, socially distanced activity. Despite the pandemic, Cheekwood maintained stable operations in 2020.

Foundation Staff Comments


Financial figures taken from Form 990. Financials completed by Kraft CPAs. Comment provided by Kathryn Bennett 9/2/2020.