Overview
What is Memphis Rock N Soul Museum Inc?
The Memphis Rock 'N' Soul Museum Inc, situated at 191 Beale Street, Memphis, Tennessee 38103, is a nonprofit organization dedicated to preserving and celebrating the origins of Rock and Soul music. Established in collaboration with the Smithsonian Institute, the museum showcases exhibitions that pay tribute to the pioneers who shaped this iconic genre. With a mission to safeguard Memphis Music's legacy, the museum provides valuable insights into the birth and evolution of this influential musical movement. Employing six individuals, the museum serves as an essential cultural hub for music enthusiasts and history buffs alike.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
The Memphis Rock N Soul Museum Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and financial management. With a score of 94%, the museum demonstrates a commitment to transparency and effective governance, featuring a fully independent board and robust policies, including conflict of interest and whistleblower protections.
Strengths of the organization include its high program expense ratio of 80.47%, indicating that a significant portion of its funds is directed toward its mission-related activities. Additionally, the museum excels in financial oversight with a perfect score in its audit committee and maintains a healthy liabilities to assets ratio of just 0.86%. This signifies sound financial practices and stability.
While the museum showcases many strengths, continued vigilance in maintaining financial practices and governance is essential for sustaining this level of performance. The independent board structure and comprehensive oversight policies position the organization well for future success, fostering trust among donors and the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Memphis Rock N Soul Museum Inc legitimate?
Memphis Rock N Soul Museum Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memphis Rock N Soul Museum 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: $0
Other Salaries and Wages: $330,493
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What is the mission statement of Memphis Rock N Soul Museum Inc?
The Memphis Rock 'N' Soul Museum is dedicated to preserving and sharing the story of Memphis Music, serving as a testament to its historical origins and enduring influence. The mission of the museum is to perpetuate this legacy, showcasing the achievements of the musical pioneers who pioneered Rock and Soul Music. Operating a museum and exhibition hall, created in collaboration with the Smithsonian Institute, the Memphis Rock 'N' Soul Museum provides visitors with an immersive experience, showcasing the evolution and impact of this distinctive musical genre.
Who is the CEO of Memphis Rock N Soul Museum Inc?
John Doyle is the Past Chairperson of Memphis Rock N Soul Museum Inc.
What is the revenue of Memphis Rock N Soul Museum Inc?
Memphis Rock N Soul Museum Inc's revenue in 2022 was $1,156,104.
Who are the executives of Memphis Rock N Soul Museum Inc and what are their salaries?
The average compensation at Memphis Rock N Soul Museum Inc during 2022 was $55,082. There are 6 employees at Memphis Rock N Soul Museum Inc.
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- Compensation: $112,667
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- Other: $23,333
Where can I find the form 990 for Memphis Rock N Soul Museum Inc?
Memphis Rock N Soul Museum Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Memphis Rock N Soul Museum Inc
The Memphis Rock 'N' Soul Museum's mission is centered around preserving and sharing the captivating story of Memphis Music. This esteemed institution aims to perpetuate the legacy of the musical pioneers who revolutionized both Rock and Soul genres, marking a significant milestone in music history. To accomplish this, the museum operates and maintains an exhibition hall, a creation by the Smithsonian Institute, which serves as a living testament to the birth of these two influential music styles. The museum's exhibits showcase the journey of these musical innovators, providing an immersive experience that educates visitors about the rich history and enduring impact of Memphis Music.
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Impact
July, 2024
The Memphis Rock 'N' Soul Museum Inc has a significant impact on preserving and promoting the rich musical history of Memphis. Through its museum and exhibition hall, the organization tells the story of Memphis Music and honors the musical pioneers who shaped the genres of Rock and Soul music. By perpetuating the legacy of these artists, the museum contributes to the cultural heritage of Memphis and educates visitors on the city's musical influence. Through its activities, the Memphis Rock 'N' Soul Museum Inc plays a vital role in preserving and celebrating the vibrant music scene of Memphis, Tennessee.
This information is meant to be a general summary of Memphis Rock N Soul Museum 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: $5,045
- Program Service Revenue: $968,961
- Gross Receipts: $1,156,104
Assets and Liabilities:
- Total Assets: $2,397,096
- Total Liabilities: $20,766
- Net Assets: $2,376,330
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Admissions
Revenue
$473,813
Memphis Music Hall of Fame
Revenue
$179,971
Merchandise Sales
Revenue
$315,177
Organization Details
Founding Year
1998
Phone
(901) 205-2530Principal Officer
John Doyle
Main Address
191 Beale Street, Memphis, TN, 38103
NTEE Category
Code: A500 - Arts
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