Overview
What is Music City Inc?
Music City Inc, based in Nashville, Tennessee, is a nonprofit organization situated at 500 11th Ave N Ste 650. Their primary mission is to enhance the music environment of the city by organizing music-related events and services for the public and the Metropolitan Government of Nashville. They are well-known for producing the annual public New Year's Eve event, Nashville's Big Bash, which offers free live music and fireworks to bring the community together and celebrate the new year. This event serves as a unifying force, fostering a sense of camaraderie and celebration among Nashville's residents. Additionally, Music City Inc provides event-related supplies and services to the Metro Government of Nashville, further contributing to the city's music scene.
What are the reviews and ratings of this charity?
Charity Navigator has awarded Music City Inc a Three-Star out of Four Star rating, reflecting a score of 79%. This rating is primarily based on the organization's accountability and financial health. A strong indicator of their governance, the charity features a majority independent board and has implemented rigorous oversight through various policies including conflict of interest and whistleblower protection.
The organization's financials show robust program expense ratios, indicating that a significant portion of their expenses go directly towards programmatic activities. However, there are some concerns, particularly regarding the absence of their website on the tax form and the lack of posted tax documents on their own site, which are noted as areas needing improvement. Additionally, while the organization has an impressive compensation structure, its evaluation regarding impact, culture, and leadership cannot be determined at this time.
Unfortunately, there are no user reviews available from GreatNonprofits to provide further public sentiment on Music City Inc. Overall, while the organization demonstrates solid financial practices and governance, transparency in reporting and impact measurement remains an area for enhancement.
This AI summary has been generated from information found on Charity Navigator.
Is Music City Inc legitimate?
Music City Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Music City Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $1,987
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Music City Inc?
Music City Inc's mission is centered around enhancing the musical environment of a city. They achieve this by organizing music-related events and providing related services to the public and local government. The primary objective is to lessen the government's burden in this regard. One of their significant contributions is the annual New Year's Eve event, Nashville's Big Bash, offering free live music and fireworks to the general public, fostering unity and celebration as the city transitions into the new year.
Who is the CEO of Music City Inc?
Christopher Spyridon is the Board Member/President of Music City Inc.
What is the revenue of Music City Inc?
Music City Inc's revenue in 2022 was $7,930,504.
Who are the executives of Music City Inc and what are their salaries?
There 20 volunteers at Music City Inc.
Here are 14 key members and their salaries:
- Compensation: $0
- Related: $1,096,622
- Other: $296,651
- Compensation: $0
- Related: $408,113
- Other: $42,621
- Compensation: $0
- Related: $261,750
- Other: $34,795
- Compensation: $0
- Related: $178,722
- Other: $36,414
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Music City Inc?
Music City Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Music City Inc
Music City Inc, a nonprofit organization, is committed to enhancing the musical atmosphere of Nashville. Their mission is twofold: firstly, they aim to enrich the music environment of the city for the general public, and secondly, they strive to alleviate the government's burden by organizing music-related events and providing related services. Music City Inc achieves this by producing various music events open to the public, such as the annual New Year's Eve celebration, Nashville's Big Bash. This event offers free live music and fireworks, bringing the city together and providing an exciting way for residents and visitors to celebrate the start of the new year. Through these activities, Music City Inc plays a significant role in fostering a vibrant musical culture in Nashville.
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Impact
October, 2024
Music City Inc significantly enhances the music environment of Nashville through a range of music-related events and services that foster community engagement and celebrate the city's rich cultural heritage. One of its hallmark initiatives is the annual New Year's Eve event, Nashville's Big Bash, which offers free live music and fireworks, drawing attendees together for a festive celebration that marks the transition into the new year. This event not only showcases local talent but also strengthens community bonds and promotes Nashville as a vibrant music destination.
By providing these vital services, Music City Inc plays a crucial role in lessening the burden on local government, ensuring that the people of Nashville can enjoy high-quality musical experiences without incurring additional costs. Their commitment to enhancing the city's music culture contributes to Nashville’s reputation as a hub for artists and music lovers alike, enriching the lives of residents and visitors while celebrating the unique spirit of the city.
This information is meant to be a general summary of Music City Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $56
- Program Service Revenue: $222,652
- Gross Receipts: $7,930,504
Assets and Liabilities:
- Total Assets: $1,837,848
- Total Liabilities: $1,368,093
- Net Assets: $469,755
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COVID 19 Vaccine Incentive Prrogram
Revenue
$20,542
Music City July 4th Celebration
Revenue
$84,641
Music City New Year's Eve Event
Revenue
$117,469
Organization Details
Founding Year
2006
Phone
(615) 259-4708Principal Officer
Christopher Spyridon
Main Address
500 11th Ave N Ste 650, Nashville, TN, 37203
NTEE Category
Code: A20 - Arts
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