TENNESSEE PERFORMING ARTS CENTER (TPAC) MANAGEMENT CORPORATION (EIN 581320590) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1977

Legal Domicile

Principal Officer

JENNIFER TURNER

Phone

6157824000

Tax Period

2024-07-01 to 2025-06-30

TENNESSEE PERFORMING ARTS CENTER (TPAC) MANAGEMENT CORPORATION, founded in 1977, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $54.2M in total revenue in fiscal year 2024. Revenue fell 55% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $23.0M, a strong 42% operating margin.

Mission

CREATE EXPERIENCES THROUGH PERFORMING ARTS; PROVIDE ARTS ENTERTAINMENT/EDUCATION TO TN

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $23,605,190

Program Service Revenue $21,553,164

Investment Income $4,659,183

Other Revenue $4,346,454

TOTAL REVENUE $54,163,991

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,275,628

Fundraising Expenses $1,781,444

Program Expenses $23,872,646

Other Expenses $20,926,421

TOTAL EXPENSES $31,202,049

Year-over-Year Comparison

	2024	2023	Change
Revenue	$54,163,991	$119,394,667	-0.5%
Expenses	$31,202,049	$30,465,093	+0.0%
Net Income	$22,961,942	$88,929,574	-0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

413

Volunteers

160

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

$1,228,046

Total Directors

Key Employees

$182,979

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MELVIN MALONE	CHAIR	2.00	Officer Director	$0	$0	$0
JAMES SCHMITZ	VICE CHAIR	2.00	Officer Director	$0	$0	$0
SHEILA GIBSON	SECRETARY	2.00	Officer Director	$0	$0	$0
J REGINALD HILL	TREASURER	2.00	Officer Director	$0	$0	$0
ADAM SANSIVERI	DIRECTOR	0.50	Director	$0	$0	$0
ALEXIA POE	DIRECTOR	0.50	Director	$0	$0	$0
ANDREW TAVI	DIRECTOR	0.50	Director	$0	$0	$0
CLAIRE TUCKER	DIRECTOR	0.50	Director	$0	$0	$0
CYBELE RAVER	DIRECTOR	0.50	Director	$0	$0	$0
DEBBIE HOLLENSTEIN	DIRECTOR	0.50	Director	$0	$0	$0
DON HARDIN	DIRECTOR	0.50	Director	$0	$0	$0
DR CHRISTOPHER REHM	DIRECTOR	0.50	Director	$0	$0	$0
DR PHILIP WENK	DIRECTOR	0.50	Director	$0	$0	$0
EMANUAL BUTCH EADS	DIRECTOR	0.50	Director	$0	$0	$0
GAIL CARR WILLIAMS	DIRECTOR	0.50	Director	$0	$0	$0
JOY HEINRICHS	DIRECTOR	0.50	Director	$0	$0	$0
KEVIN HARTLEY	DIRECTOR	0.50	Director	$0	$0	$0
MARTHA INGRAM	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL CARTER	DIRECTOR	0.50	Director	$0	$0	$0
NATHAN POSS	DIRECTOR	0.50	Director	$0	$0	$0
RHONDA TAYLOR	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT HEBERT	DIRECTOR	0.50	Director	$0	$0	$0
MICHELLE GASKIN BROWN	DIRECTOR	0.50	Director	$0	$0	$0
LIZZETTE REYNOLDS	DIRECTOR	0.50	Director	$0	$0	$0
ROSALYN CARPENTER	DIRECTOR	0.50	Director	$0	$0	$0
VICTOR BERRIOS	DIRECTOR	0.50	Director	$0	$0	$0
DALE ALLEN	DIRECTOR	0.50	Director	$0	$0	$0
TRISH MUNRO	DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER TURNER	PRESIDENT & CEO	40.00	Officer	$404,471	$28,807	$433,278
JAMES TIMM	MANAGING DIRECTOR & CAO	40.00	Officer	$286,760	$17,953	$304,713
JULIE GILLEN	CFO	40.00	Officer	$181,407	$21,722	$203,129
ROBERTA CIUFFO	CHIEF INCLUSIVE ARTS OFFIC	40.00	Officer	$158,811	$20,239	$179,050
SUZANNE ILER END 52024	CHIEF CAMPAIGN OFFICER	40.00	Officer	$97,207	$10,669	$107,876
LEON SCIOSCIA	VP OF OPERATIONS	40.00	Key Emp	$164,985	$17,994	$182,979
DENISE MINATOYA	CAPITAL PROJECTS & FACILIT	40.00	Highest	$149,675	$20,010	$169,685
JEFF CONDON	VP OF IT	40.00	Highest	$140,141	$24,205	$164,346
KIM MARRONE	VP OF HUMAN RESOURCES	40.00	Highest	$112,054	$16,264	$128,318
CHRISTIAN LYHUS	DIRECTOR OF PROGRAMMING	40.00	Highest	$114,703	$16,704	$131,407
DIANA PELHAM	VP OF LEADERSHIP GIVING	40.00	Highest	$120,885	$8,237	$129,122

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
2025	$54,163,991	$31,202,049	$148,272,115	$22,961,942
2024	$119,394,667	$30,465,093	$130,144,891	$88,929,574
2023	$30,406,735	$28,354,818	$36,779,579	$2,051,917
2022	$25,885,364	$21,786,105	$35,782,071	$4,099,259
2021	$11,738,774	$7,614,048	$22,129,130	$4,124,726
2020	$27,400,374	$27,325,868	$18,241,048	$74,506
2019	$23,869,581	$23,785,719	$20,680,246	$83,862

TENNESSEE PERFORMING ARTS CENTER (TPAC) MANAGEMENT CORPORATION