Music City Bowl Inc
- Assets
- $2.8m
- Revenue
- $112.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 09/1999
- Data as of
- 03/2021
- EIN
- 62-1720086
Organization Overview
Music City Bowl Inc is located in Nashville, TN. The organization was established in 1999. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Music City Bowl Inc 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 03/2021, Music City Bowl Inc generated $112.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (54.5%) each year. All expenses for the organization totaled $1.3m during the year ending 03/2021. 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 PRODUCE A POST-SEASON COLLEGIATE FOOTBALL GAME TO STIMULATE A POSITIVE IMPACT ON THE NASHVILLE ECONOMY, NATIONAL IMAGE, AND COMMUNITY PRIDE WHILE SHOWCASING THE CITY AS A PREMIER DESTINATION WITH AUDIENCES THROUGHOUT THE COUNTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCED A POST-SEASON FOOTBALL GAME BETWEEN THE UNIVERSITY OF TENNESEE AND PURDUE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Ramsey Ceo/president | Officer | 26 | $288,353 |
Jason Grider Coo/sr. VP Events & Operat | 26 | $83,810 | |
Scott Mcgilberry Sr. VP Finance / Treasurer | Officer | 20 | $65,060 |
Pete Weien Chair | OfficerTrustee | 0.5 | $0 |
Dave Cooley Board Member | Trustee | 0.5 | $0 |
Chris Karbowiak Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $109,520 |
| Investment income | $2,595 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $112,115 |
| 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. | $452,837 |
| Compensation of current officers, directors, key employees. | $99,280 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,760 |
| Pension plan accruals and contributions | $14,426 |
| Other employee benefits | $66,687 |
| Payroll taxes | $35,667 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,691 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,065 |
| Advertising and promotion | $76,812 |
| Office expenses | $18,025 |
| Information technology | $8,277 |
| Royalties | $0 |
| Occupancy | $85,830 |
| Travel | $338 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,607 |
| Insurance | $41,052 |
| All other expenses | $37,353 |
| Total functional expenses | $1,287,944 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,489,575 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,893 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $205,972 |
| Net Land, buildings, and equipment | $60,566 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,763,006 |
| Accounts payable and accrued expenses | $21,781 |
| Grants payable | $0 |
| Deferred revenue | $1,337,000 |
| 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 | $17,496 |
| Total liabilities | $1,376,277 |
| Net assets without donor restrictions | $1,320,367 |
| Net assets with donor restrictions | $66,362 |
| 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 | $2,763,006 |
Grants Awarded
Over the last fiscal year, Music City Bowl Inc has awarded $95,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Pigeon Forge, TN PURPOSE: TO SUPPORT EAST TENNESSEE WILDFIRE RELIEF | $50,000 |
Nashville, TN PURPOSE: TO SUPPORT THE HOPE CHARITABLE GOLF TOURNAMENT | $45,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Music City Bowl Inc has recieved totaling $92,000.
| Awarding Organization | Amount |
|---|---|
Delta Dental Of Tennessee Nashville, TN PURPOSE: EVENT SPONSORSHIP | $80,000 |
Smile 180 Foundation Nashville, TN PURPOSE: SUPPLIES TO ASSIST WITH ORAL HEALTH | $12,000 |
Endowment Analysis
| Beg. Balance | $66,362 |
| Earnings | $52 |
| Grants | $52 |
| Ending Balance | $66,362 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Twg 2021 Birmingham Foundation Birmingham, AL | $1,575,838 | $9,654,976 |
Midway Usa Foundation Inc Columbia, MO | $194,100,293 | $37,103,631 |
United States Hunter Jumper Association Inc Lexington, KY | $20,251,014 | $9,522,034 |
Alabama Sports Council Inc Birmingham, AL | $494,111 | $5,878,430 |
Missouri Valley Conference Inc St Louis, MO | $10,444,732 | $10,359,535 |
Adult Ice Hockey Federation Ltd Sterling, VA | $497,146 | $3,812,767 |
Richmond Volleyball Club Henrico, VA | $4,492,529 | $3,770,472 |
National Junior College Athletic Association Charlotte, NC | $4,854,958 | $4,218,539 |
Mid-America Intercollegiate Athletics Association Kansas City, MO | $897,244 | $2,652,440 |
The United States Pony Clubs Inc Lexington, KY | $8,497,562 | $2,773,212 |
Louisville Urban League Sports And Learning Complex Inc Louisville, KY | $77,056,765 | $1,676,545 |
Tidewater Volleyball Association Virginia Beach, VA | $336,915 | $1,476,950 |