ARTSmemphis Distributes Millions to Arts Orgs, with an Assist from First Horizon, AutoZone and FedEx

Corey Davis | Memphis Business Journal

The area’s main funder for local art organizations and artists has given out one of its highest single-year grant totals, with an assist from some big-name local employers.

ARTSmemphis president and CEO Elizabeth Rouse told MBJ that the $3.4 million invested in the local arts community in fiscal year 2023 was the most granted by the organization over the past 15 years. In 2008, ARTSmemphis distributed $3.9 million in funding. The organization, which was founded in 1963, has dispersed $94 million over the lifetime of the nonprofit.

“For art organizations, this is unrestricted funding that is very critical for them to be able to pay their staff, keep their lights on, and to have the resources they need to run their arts programming,” Rouse said. “These arts organization are not just producing great things on a stage but are also producing great things in neighborhoods and engaging people of all ages.”

Local corporate backing for the arts

Rouse noted that roughly 51% of ARTSmemphis' funding comes from corporations. She said the organization has several grant programs, including being a vehicle for local corporations to contribute to the arts.

ARTSmemphis registered 279 total grants to arts organizations in fiscal year 2023, which was helped by increased or new giving via corporate programs with First Horizon, AutoZone, and FedEx.

Rouse said First Horizon started their corporate giving program with ARTSmemphis in 2012, while AutoZone followed in 2013 and FedEx began their program in 2023.

“We’ve seen tremendous growth in both of those corporate [First Horizon and AutoZone] giving programs over the years in both dollars they’re contributing [and] in the relationship that they have established and built,” Rouse said. “[Our] newest program is [with] FedEx, and they have started a similar model [to First Horizon and AutoZone].”

Bo Allen, First Horizon’s West Tennessee president and an ARTSmemphis board member, said that when the Memphis-area’s largest bank was getting numerous requests from arts organizations years ago, First Horizon's leadership felt that ARTSmemphis was the right solution to assist in getting dollars to the right groups.

While not discussing specific figures, Allen noted that First Horizon has contributed a significant amount of dollars to local arts organizations over the years. He said First Horizon understands the importance of helping the local community be successful, especially with the arts scene being a huge part of the identity of Memphis.

"Art organizations that put on shows and events are vital to our community [and our] employees who want to move to and live in Memphis and have a lot of entertainment options,” Allen said. “The [First Horizon] Foundation is supporting the community, and we believe the arts are a big part of that.”

Since beginning its 2024 fiscal year on July 1, ARTSmemphis has distributed $1.2 million in operating support grants to 45 local arts organizations, which is a 20% increase in operating support over the previous year. Rouse said that is the organization’s largest grant program, which provides unrestricted operating support for mission-based arts organizations in Shelby County.

“That funding is important to enable these groups to do this work,” Rouse said. “We were really excited this year to expand that money. We increased that pool funding by $200,000, and we’re working to increase that over the next few years."