Overview
What is Artsmemphis?
Artsmemphis is a nonprofit organization situated in Memphis, Tennessee, with a postal address at 575 S Mendenhall Road, 38117. Their primary focus is on nurturing small, community-based arts organizations and providing support to larger organizations, thereby contributing to the overall arts landscape in Memphis. By offering unrestricted operating support grants, Artsmemphis aims to empower all effective arts organizations to flourish. This funding is essential but challenging to secure, and Artsmemphis recognizes its significance. With a mission to sustain Memphis' renowned cultural vitality and strengthen local communities, Artsmemphis plays a crucial role in preserving and promoting the arts scene in the city, thereby enriching the lives of its residents. The organization currently employs a team of eight individuals.
Official website here: www.artsmemphis.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 95%, Four-Star out of Four Star rating.
ArtsMemphis has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization has demonstrated exceptional governance, with a fully independent board and no material diversion of assets. The high scores in key areas such as program expenses and fundraising efficiency indicate that it effectively utilizes its resources to support its mission.
The nonprofit's fiscal responsibility is evident, evidenced by a favorable liabilities-to-assets ratio and a significant working capital ratio, suggesting stability and sustainability. The presence of comprehensive policies, such as conflict of interest and whistleblower protections, further enhances its reputation for transparency and ethical management.
While the overall data is laudable, continued monitoring of financial health and program impact will be crucial for maintaining this level of excellence. ArtsMemphis is positioned well to continue making meaningful contributions to the arts community, supported by its strong financial practices and governance structure.
This AI summary has been generated from information found on Charity Navigator.
Is Artsmemphis legitimate?
Artsmemphis is a legitimate nonprofit organization registered as a 501(c)(3) entity. Artsmemphis 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: $346,353
Professional Fundraising Fees: $0
Other Salaries and Wages: $133,052
For more financial information, click here
Official website here: www.artsmemphis.org
What is the mission statement of Artsmemphis?
ArtsMemphis' mission is focused on preserving Memphis' globally recognized cultural vibrancy and strengthening local communities. This is achieved through the arts, as ArtsMemphis provides operational support grants to both small, community-based arts organizations and larger entities. By offering unrestricted operating support, ArtsMemphis aims to foster the success of effective arts organizations, recognizing that this type of funding is highly valuable and challenging to secure.
Official website here: www.artsmemphis.org
Who is the CEO of Artsmemphis?
Julie Wiklund is the Chair, Board Of Directors of Artsmemphis.
Official website here: www.artsmemphis.org
What is the revenue of Artsmemphis?
Artsmemphis's revenue in 2022 was $4,849,435.
Official website here: www.artsmemphis.org
Who are the executives of Artsmemphis and what are their salaries?
The average compensation at Artsmemphis during 2022 was $59,926. There are 8 employees and 97 volunteers at Artsmemphis.
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Official website here: www.artsmemphis.org
Where can I find the form 990 for Artsmemphis?
Artsmemphis's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.artsmemphis.org
Learn more at the official website: www.artsmemphis.org
Mission Statement of Artsmemphis
Artsmemphis, as a nonprofit organization, is committed to maintaining Memphis' globally recognized cultural vitality and enhancing local communities through the arts. By implementing this mission, Artsmemphis aims to strengthen the city's artistic landscape through operational support grants. These grants primarily target small, community-based arts organizations, nurturing their growth and stability. Additionally, larger organizations that foster new initiatives and contribute to the overall stability of the arts sector also receive support. Artsmemphis recognizes the significance of unlimited operational funding, which is the most valuable but challenging type of financing for arts organizations. By providing this type of support, Artsmemphis empowers effective arts organizations to thrive, thereby enriching Memphis' cultural landscape.
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Impact
July, 2024
Artsmemphis plays a crucial role in sustaining Memphis' world-renowned cultural vitality and strengthening local communities through the arts. By providing operating support grants to a diverse range of arts organizations, Artsmemphis nurtures small, community-based groups while also supporting larger organizations that drive innovation and stability in the arts landscape. This strategic approach enables effective arts organizations to thrive and contribute significantly to the cultural richness of Memphis. Through its efforts, Artsmemphis positively impacts the artistic ecosystem of the city and fosters a vibrant and inclusive community where the arts can flourish.
This information is meant to be a general summary of Artsmemphis. 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: $247,973
- Gross Receipts: $5,650,735
Assets and Liabilities:
- Total Assets: $27,136,198
- Total Liabilities: $5,528,566
- Net Assets: $21,607,632
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Organization Details
Founding Year
1962
Phone
(901) 578-2787Principal Officer
Julie Wiklund
Main Address
575 S MENDENHALL ROAD, MEMPHIS, TN, 38117
Website
www.artsmemphis.orgNTEE Category
Code: A260 - Arts
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