Tennessee Arts Academy Foundation

Nonprofit profile at a glance

EIN
621721187
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2015, Form 990-N 2012
Location
Nashville, TN, USA
Phone
6159886250
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$845,568
Expenses
$674,472
Assets
$1,410,809
Liabilities
$0

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

Leadership & pay

34 people listed

Executive titles in this filing

  • FRANK BLUESTEIN (EXECUTIVE DIRECTOR)
  • WILLIAM H WATKINS Jr (PRESIDENT)
  • FLOWERREE MCDONOUGH (VICE PRESIDENT)

People named in this filing

  • FRANK BLUESTEIN (EXECUTIVE DIRECTOR)
  • STEPHEN COLEMAN (DIRECTOR)
  • WILLIAM H WATKINS Jr (PRESIDENT)

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

To perpetuate the Tennessee arts academy

What it reported doing in 2024

To support the Tennessee arts academy taa scholarships 20,000 taa artist & speaker sponsorship support 26,325 printing and office exp 26,400 media exp 12,025 awards 45

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 79
  • Accountability: 86
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.6%; rating input score 67
  • Program expense ratio: 80.9%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 83.3%; rating input score 83; 1st 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: 97.1%; rating input score 97; 26th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: 20.2%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 2.09; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 15.3% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 15.3% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 18.2% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 66.6% of revenue deployed · 80.9% of spending went to programs
  • Governance: 33 of 34 board members independent · 5 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $545K in reported program spending
  • Leadership: top reported pay $0 · 34 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.