Music City Major Events Inc

Nonprofit profile at a glance

EIN
993663995
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Nashville, TN, USA
Phone
6152594708
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Recreation& Sports N.E.C.

Reported finances

Revenue
$18,371,908
Expenses
$5,606
Assets
$18,366,302
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • Deana Ivey (President-CEO-Director)

People named in this filing

  • Deana Ivey (President-CEO-Director)
  • Bill Haslam (Chairman of the Board)
  • Ben Weprin (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Music City Major Events Inc. is organized to promote social welfare by advocating Nashville TN as the site for major events all within the requirements of IRC Sec 501 c4. The organization will work to attract major events to Nashville to benefit its residents and stimulate economic growth for the citys businesses.

What it reported doing in 2024

The organization has begun the process of identifying those major events which fall within its mission scope and has begun identifying potential sponsorship sources to meet the financial requirements of these future events.

Operating model

Revenue model
Grant-funded. 98% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 99
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 100%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 3,276.19; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 17 of 17 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $0 · 18 people listed
  • Consistency: 38 of 40 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 1 filing year from 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.