Soulsville
- Assets
- $9.5m
- Revenue
- $2.7m
- Investments
- $199.0k
- Employees
- 39
- Location
- Memphis, TN
- Founding
- 08/1998
- Data as of
- 06/2021
- EIN
- 62-1719414
Organization Overview
Soulsville is located in Memphis, TN. The organization was established in 1998. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Soulsville employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Soulsville 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 06/2021, Soulsville generated $2.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $2.8m during the year ending 06/2021. While expenses have increased by 0.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
THE SOULSVILLE FOUNDATION PERPETUATES THE SOUL OF STAX RECORDS BY PRESERVING ITS RICH CULTURAL LEGACY, EDUCATING YOUTH TO BE PREPARED FOR LIFE SUCCESS, AND INSPIRING FUTURE ARTISTS TO ACHIEVE THEIR DREAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF STAX MUSEUM TO ENHANCE THE PRESERVATION AND STUDY OF MUSIC.
TO HELP URBAN YOUTH, PRIMARILY AT RISK, TO DISCOVER AND DEVELOP THEIR MUSICAL TALENTS, IMPROVE THEIR LIFE CHANCES AND ENCOURAGE ACADEMIC EXCELLENCE.
OPERATION OF GIFT SHOP IN CONJUNCTION WITH STAX MUSEUM.
OPERATION OF STAX MUSEUM GIFT SHOP AND MUSEUM EXHIBITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Greenwald President/ceo | Officer | 40 | $199,266 |
Jeffery Kollath Stax Museum Executive Director | 40 | $113,662 | |
Meka Egwuekwe Secretary | OfficerTrustee | 1 | $0 |
Richard Hussey Emeritus | OfficerTrustee | 1 | $0 |
Tom Marino Director | OfficerTrustee | 1 | $0 |
Gary Shorb Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vc3 Inc Computer Services | 6/29/21 | $286,410 |
Give Clean Llc Janitorial Services | 6/29/21 | $142,127 |
Mlgw Utility Services | 6/29/21 | $138,289 |
Top Notch Security Inc Security Services | 6/29/21 | $128,753 |
Apple Inc Computer Services | 6/29/21 | $152,868 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $750 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $341,091 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,503,333 |
| Noncash contributions included in lines 1a–1f | $10,430 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,845,174 |
| Total Program Service Revenue | $650,764 |
| Investment income | $82,969 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$212 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $146,476 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,725,171 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $199,266 |
| Compensation of current officers, directors, key employees. | $15,941 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $977,601 |
| Pension plan accruals and contributions | $147,076 |
| Other employee benefits | $97,326 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $78,791 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $156,661 |
| Advertising and promotion | $41,895 |
| Office expenses | $21,707 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,341 |
| Travel | $5,286 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $700 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $557,091 |
| Insurance | $72,060 |
| All other expenses | $109,747 |
| Total functional expenses | $2,794,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,978,662 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $265,631 |
| Accounts receivable, net | $197,301 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $96,666 |
| Prepaid expenses and deferred charges | $39,049 |
| Net Land, buildings, and equipment | $6,543,186 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $198,970 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $136,525 |
| Total assets | $9,455,990 |
| Accounts payable and accrued expenses | $177,165 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $177,165 |
| Net assets without donor restrictions | $8,691,466 |
| Net assets with donor restrictions | $587,359 |
| 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 | $9,455,990 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Soulsville has recieved totaling $588,109.
| Awarding Organization | Amount |
|---|---|
Christian Community Foundation Of Memphis And The Mid-South Inc Memphis, TN PURPOSE: PROGRAM SUPPORT | $156,250 |
Arts Memphis Memphis, TN PURPOSE: OPERATING SUPPORT & ENHANCEMENT | $143,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $129,860 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $62,554 |
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $60,250 |
Soundwaves Art Foundation Lockhart, TX PURPOSE: GRANT | $13,945 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Missouri Historical Society Jefferson Memorial Building St Louis, MO | $154,816,775 | $36,156,227 |
Navy Seal Foundation Inc Virginia Beach, VA | $115,540,390 | $24,207,052 |
Union Station Kansas City Inc Kansas City, MO | $67,441,549 | $27,511,678 |
Lorraine Civil Rights Museum Foundation Memphis, TN | $35,843,207 | $14,748,460 |
The National Museum Of African American Music Nashville, TN | $43,131,276 | $9,233,015 |
Shakertown At Pleasant Hill Kentucky Inc Harrodsburg, KY | $23,439,163 | $8,870,243 |
National Infantry Museum Foundation Inc Columbus, GA | $75,263,880 | $5,605,336 |
Montpelier Foundation Orange, VA | $32,791,745 | $7,244,660 |
North Carolina Transportation Museum Foundation Spencer, NC | $11,455,078 | $7,616,895 |
Old Salem Incorporated Winstonsalem, NC | $81,707,076 | $3,795,190 |
Owsley Brown Frazier Historical Arms Museum Foundation Inc Louisville, KY | $43,112,750 | $4,338,107 |
American Civil War Museum Richmond, VA | $33,997,529 | $3,026,232 |