CLEVELAND MUSIC FOUNDATION INC

EIN: 453186945 501(c)(3) Arts, Culture & Humanities

CLEVELAND, MS

Total Revenue
$2,046,903
Total Expenses
$1,955,368
Total Assets
$17,086,499
Net Assets
$16,267,183
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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
MS
Principal Officer
BECKY NOWELL
Phone
6624410100
Tax Period
2024-01-01 to 2024-12-31

CLEVELAND MUSIC FOUNDATION INC, founded in 2011, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.0M in total revenue in fiscal year 2024. Expenses of $2.0M left a modest 4% surplus.

Mission

To educate and inspire through the universal language of music. To provide unique experiences for all, using music as a gateway to learning.GRAMMY Museum Mississippi is an exciting and interactive celebration of the power of music occupying a vibrant space in Cleveland, Mississippi. Cutting edge exhibits, interactive experiences and films provide a one-of-a-kind visitor experience engaging, educational, celebratory, and inspirational.

Program Service Accomplishments

Program 1
Expenses: $1,550,003

GRAMMY Museum Mississippi operates programs and related activities to acknowledge and honor a diverse group of musicians and other performing artists for their contributions to American music. The...

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GRAMMY Museum Mississippi operates programs and related activities to acknowledge and honor a diverse group of musicians and other performing artists for their contributions to American music. The Museum also shares music history through exhibits by curating and preserving music history with interviews, artifacts, and memorabilia related to the musicians life, career, and legacy. The Museum hosts public programs, panel discussions, and community events to educate visitors from the United States and international visitors on Mississippis music legacy.

Program 2

The Museum provides music education for students inside the museum with museum tours, education workshops, summer camps, instrument lessons, sensory-friendly programs, family day activities, and...

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The Museum provides music education for students inside the museum with museum tours, education workshops, summer camps, instrument lessons, sensory-friendly programs, family day activities, and education outreach workshops in schools. GRAMMY Museum Mississippi seeks to educate and inspire all Museum visitors and Members as to the enduring qualities and cultural significance of popular and classical music. By implementing a variety of innovative educational strategies; by incorporating the advice and needs of scholastic teachers, locally, regionally, and nationally; GRAMMY Museum Mississippi offers the most dynamic and exciting educational programs available from music museums. Through the exhibits, education programming, and exciting events with musicians and entertainment industry professionals, the Museum can bring the power of music to the community, state, and region.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,339,476
Program Service Revenue $461,170
Investment Income $98,661
Other Revenue $147,596
TOTAL REVENUE $2,046,903

Expense Breakdown

Grants Paid $0
Salaries & Benefits $601,919
Fundraising Expenses $51,764
Program Expenses $1,550,003
Other Expenses $1,351,449
TOTAL EXPENSES $1,955,368

Year-over-Year Comparison

2024 2023 Change
Revenue $2,046,903 $1,956,833 +0.0%
Expenses $1,955,368 $1,899,410 +0.0%
Net Income $91,535 $57,423 +0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
20
Independent Members
20
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
21
$250,154
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EMILY HAVENS Executive Dir. 40.00
Director
$135,237 $0 $135,237
JACK McWILLIAMS Foundation Mgr. 40.00
Director
$76,123 $0 $76,123
CHACE HOLLAND Controller 40.00
Director
$38,794 $0 $38,794
BECKY NOWELL President 5.00
Officer Director
$0 $0 $0
MARY MCKAY GRIFFITH Director 1.00
Director
$0 $0 $0
KAMEL KING Director 1.00
Director
$0 $0 $0
GAINES STURDIVANT Director 1.00
Director
$0 $0 $0
BOO MITCHELL Director 1.00
Director
$0 $0 $0
HEATHER WALKER Secretary 1.00
Officer Director
$0 $0 $0
ZACH FARNUM Director 1.00
Director
$0 $0 $0
BETSY AGUZZI Director 1.00
Director
$0 $0 $0
STEVE AZAR Director 1.00
Director
$0 $0 $0
MYRTIS TABB Vice President 1.00
Officer Director
$0 $0 $0
AMY WHITTEN Director 1.00
Director
$0 $0 $0
JORDAN GOINS Director 1.00
Director
$0 $0 $0
BENNIE WRIGHT Director 1.00
Director
$0 $0 $0
DANNY WHALEN Treasurer 1.00
Officer Director
$0 $0 $0
SHAWN MACKEY SR Director 1.00
Director
$0 $0 $0
MICHAEL SANDERS Director 1.00
Director
$0 $0 $0
SARITA SIMMONS Director 1.00
Director
$0 $0 $0
SEAN WESSEL Director 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $2,046,903 $1,955,368 $17,086,499 $91,535
2023 $1,956,833 $1,899,410 $17,036,301 $57,423
2022 $1,758,546 $1,677,340 $16,967,424 $81,206
2021 $4,402,670 $1,934,796 $16,770,194 $2,467,874
2020 $1,195,369 $1,593,677 $16,884,071 $-398,308
2019 $1,859,597 $2,041,781 $17,725,075 $-182,184
2018 $1,133,320 $2,005,887 $18,238,953 $-872,567
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