Historic Tennessee Theatre Foundation
- Assets
- $32.9m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 22
- Location
- Knoxville, TN
- Founding
- 10/1996
- Data as of
- 12/2021
- EIN
- 62-1651302
Organization Overview
Historic Tennessee Theatre Foundation is located in Knoxville, TN. The organization was established in 1996. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Historic Tennessee Theatre Foundation employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Historic Tennessee Theatre Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Historic Tennessee Theatre Foundation generated $9.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $4.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HOLD, MAINTAIN, RENOVATE AND IMPROVE CERTAIN REAL PROPERTY KNOWN AS THE HISTORIC TENNESSEE THEATRE LOCATED IN KNOXVILLE TENNESSEE, IN ORDER TO PROVIDE A PERFORMING ARTS VENUE FOR THE COMMUNITY AND OTHER ENTITIES FOR HISTORIC AND EDUCATIONAL ACTIVITIES; TO PRESERVE AND RESTORE THE HISTORIC TENNESSEE THEATRE AS A HISTORICAL LANDMARK; AND TO PROVIDE THE GENERAL PUBLIC WITH A GREATER AWARENESS, APPRECIATION AND UNDERSTANDING OF THE THEATRICAL PERFORMING ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF PERFORMING ARTS ORGANIZATIONS AND OTHER INSTITUTIONS FOR ACTIVITIES INVOLVING EDUCATION AND RELIGION.
OPERATION OF HISTORICAL THEATRE TO PROVIDE A FACILITY FOR ORGANIZATIONS AND ACTIVITIES INVOLVING THE PERFORMING ARTS, EDUCATION AND RELIGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Becky Hancock Exec. Direct | Officer | 40 | $124,109 |
Orlando Diaz Vice Preside | OfficerTrustee | 1 | $0 |
Chris Chandler President | OfficerTrustee | 1 | $0 |
Jim Wansley Treasurer | OfficerTrustee | 1 | $0 |
Rick Blackburn Secretary | OfficerTrustee | 1 | $0 |
Jason Hamilton Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,855,903 |
| All other contributions, gifts, grants, and similar amounts not included above | $575,280 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,431,183 |
| Total Program Service Revenue | $3,038,107 |
| Investment income | $34,409 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $219,446 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $183,648 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,927,493 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $102,921 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $124,110 |
| Compensation of current officers, directors, key employees. | $37,233 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $659,532 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $113,856 |
| Payroll taxes | $59,823 |
| Fees for services: Management | $174,448 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $188,910 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $147,175 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,756 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $746,832 |
| Insurance | $91,743 |
| All other expenses | $607,420 |
| Total functional expenses | $4,634,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,025,423 |
| Savings and temporary cash investments | $3,270,608 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,915 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $44,310 |
| Prepaid expenses and deferred charges | $51,315 |
| Net Land, buildings, and equipment | $22,546,086 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,949,657 |
| Accounts payable and accrued expenses | $330,364 |
| Grants payable | $0 |
| Deferred revenue | $2,050,021 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,000 |
| Total liabilities | $2,394,385 |
| Net assets without donor restrictions | $28,463,901 |
| Net assets with donor restrictions | $2,091,371 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $32,949,657 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Historic Tennessee Theatre Foundation has recieved totaling $23,400.
| Awarding Organization | Amount |
|---|---|
Arts And Culture Alliance Of Greater Knoxville Knoxville, TN PURPOSE: TO SUPPORT ARTS IN THE COMMUNITY | $15,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $8,400 |
Endowment Analysis
| Beg. Balance | $7,241,241 |
| Earnings | $1,267,496 |
| Admin Expense | $9,796 |
| Net Contributions | $245,117 |
| Other Expense | $2,141 |
| Ending Balance | $8,741,917 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kauffman Center For The Performing Arts Kansas City, MO | $435,789,864 | $9,136,596 |
Starlight Theatre Association Of Kansas City Inc Kansas City, MO | $43,695,119 | $27,963,583 |
Connect2culture Joplin, MO | $4,192,804 | $8,724,322 |
Mississippi Arts And Entertainment Center Meridian, MS | $14,826,824 | $2,667,406 |
Historic Tennessee Theatre Foundation Knoxville, TN | $32,949,657 | $9,927,493 |
Luther F Carson Four Rivers Center Inc Paducah, KY | $59,072,684 | $5,458,266 |
Rivercenter Inc Columbus, GA | $5,489,865 | $4,501,265 |
Arts Of Southern Kentucky Inc Bowling Green, KY | $7,056,878 | $5,434,508 |
Sheldon Arts Foundation Saint Louis, MO | $19,890,863 | $2,862,291 |
Belcourt Theatre Inc Nashville, TN | $8,909,570 | $4,044,335 |
Bijou Theater Center Knoxville, TN | $4,966,166 | $3,906,222 |
Gillioz Center For Arts And Entertainment Springfield, MO | $537,009 | $2,542,105 |