Advance Bristol Foundation
- Assets
- $54.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Bristol, TN
- Founding
- Data as of
- 12/2021
- EIN
- 85-1248738
Organization Overview
Advance Bristol Foundation is located in Bristol, TN. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advance Bristol Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
DOWNTOWN DEVELOPMENT. IN OUR DOWNTOWN DEVELOPMENT EFFORTS, IN 2021 ADVANCE BRISTOL ASSISTED IN FUNDING THE IMPLEMENTATION OF A DOWNTOWN SPEAKER SYSTEM; SUPPLYING RESIDENTS AND TOURISTS WITH A REMINDER OF THE CITIES BIRTHPLACE OF COUNTRY MUSIC LEGACY, PLUS ITS INFLUENCE ON CONTEMPORARY TIMES. THE $70,000 PROJECT IS THE RESULT OF A COLLABORATIVE EFFORT BETWEEN ADVANCE BRISTOL, BELIEVE IN BRISTOL, AND THE CITIES OF BRISTOL, TENNESSEE, AND BRISTOL, VIRGINIA. ADVANCE BRISTOL AND BELIEVE IN BRISTOL BOTH CONTRIBUTED $25,000, WITH THE CITIES EACH CONTRIBUTING $5,000. THE REMAINING $10,000 WILL BE USED TO MAINTAIN THE SYSTEM AND WILL BE FUNDED BY MAIN STREET PROGRAM GRANTS AND ADDITIONAL PRIVATE INVESTORS. THE SPEAKERS WILL BE LOCATED ALONG THE LENGTH OF STATE STREET, FROM MARTIN LUTHER KING JR. BOULEVARD TO COMMONWEALTH AVENUE AND VOLUNTEER PARKWAY, WITH ADDITIONAL COVERAGE ON ADJACENT SIDE STREETS. MUSIC WILL BE PLAYED YEAR-ROUND AND DIFFERENT PLAYLISTS WILL BE UTILIZED DAILY TO PROVIDE A WIDE VARIETY OF TUNES DURING REGULAR BUSINESS HOURS. THE SPEAKERS WILL ALSO BE USED TO MAKE ANNOUNCEMENTS AND AMPLIFY LIVE MUSIC EVENTS HELD IN DOWNTOWN THROUGHOUT THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathy Floyd Executive Dir. | 40 | $24,455 | |
Cathy Mullins Director | 1 | $0 | |
Jerry Kirk Vice President | 2 | $0 | |
Dirk Crandell Director | 1 | $0 | |
Jeff Jones Director | 0 | $0 | |
Raj Ventakaraman Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $132,569 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $132,569 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $26,326 |
| Professional fees and other payments to independent contractors | $24,110 |
| Occupancy, rent, utilities, and maintenance | $17,540 |
| Printing, publications, postage, and shipping | $172 |
| Other expenses | $5,965 |
| Total expenses | $79,113 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $50,136 |
| Other assets | $0 |
| Total assets | $54,303 |
| Total liabilities | $847 |
| Net assets or fund balances | $53,456 |
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