Frist Art Museum Foundation

Analysis

Frist Art Museum Foundation is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in July 1998, 28 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Frist Art Museum Foundation reported income of $1.4m and spending of $2.7m, spending 191% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.0m to $1.4m (-30%), an average of -8.5% a year. The sharpest change came in the year to December 2021, when income rose by 363%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Frist Art Museum Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within TN. Charities of a similar size with the same main cause include Newport Art Museum and Art Association ($1.4m), Brauntex Performing Arts Theatre Association Inc ($1.4m) and Chesapeake Arts Center Inc ($1.4m).

At year end it held assets of $68.0m against liabilities of $3.9m, net assets of $64.2m.