Frist Art Museum

“The governing documents of frist art museum establish the frist art museum foundation (a supporting organization) as the sole member of the frist art museum. As the sole member, the board of the frist art museum foundation has the power to appoint frist art museum's board of directors. Additionally, each member of the frist art museum foundation board serves on the board of frist art museum. However, the foundation's board is limited to 1/3 of the total voting members of frist art museum's board.”

“As described in the explanation for part vi, section a, line, 6, the board of directors of frist art museum foundation annually elects the trustees of frist art museum. All other governance decisions are reserved to the trustees of frist art museum.”

“A draft of form 990 was provided to the trustees via e-mail for review and approval prior to its submission to the internal revenue service.”

“Each officer and trustee reviews and signs a conflict of interest disclosure statement annually. Frist art museum's conflict of interest policy sets forth the process for disclosure of any actual or potential conflict of interest.”

“Executive compensation is based on the employee's assigned job duties and expectations. Comparative compensation data is obtained from the national survey of compensation compiled annually by the association of art museum directors. The association publishes compensation data for the previous year based on budget, geographical locations, and population density. A range of data is available which reflects the highest to lowest compensation in all published categories. Members of the human resources committee consider the salaries of the executive directors in the southeast working at institutions with a budget over $10 million, which are located in a metropolitan area with a population of 1.5 million. Historically, the committee's objective has been to compensate the executive director at the median to 75th percentile. The executive director receives no car allowance, no club memberships, no housing allowance, no travel for companions, no reimbursement for personal services, and no first-class travel. Compensation for key employees is determined by the human resources committee in conjunction with the executive director, using the same source of statistical data described above for the executive director.”

“Frist art museum's form 990 is available for public inspection at the organization's website www.fristartmuseum.org as well as www.givingmatters.com and guidestar.org. In addition, forms 990-t and 1023 are available for review upon request”

“Frist art museum's audited financial statements are available for public inspection at the organization's website, www.fristartmuseum.org. The organization does not make governing documents or the conflict of interest policy available to the public.”

“The financial statement audit for the period ending 12.31.2024 is in process but has not been completed as of the due date of the form 990 filing.”