Banking Services Request for Proposals (RFP) Release Date: March 1, 2018 Birthplace of Country Music, Inc. 416 State Street Bristol, TN 37620
About the Birthplace of Country Music, Inc. Our Mission The Birthplace of Country Music seeks to perpetuate, promote, and celebrate Bristol s rich musical heritage; to educate and engage audiences worldwide regarding the history, impact and legacy of the 1927 Bristol Sessions from which we derive our name; and to create recognition, opportunities, and economic benefit for our local and regional communities. Our Vision The Museum, Festival and Radio entities that comprise the Birthplace of Country Music organization are all successful, respected, popular, and acclaimed, and are having a significantly positive impact on Bristol and its surrounding region both economically and in creating recognition of Bristol s place in the history of music. Our Legacy In the summer of 1927, just two months after Charles Lindbergh made the first flight across the Atlantic in the Spirit of St. Louis, and during the season that Babe Ruth was blasting out 60 home runs for the Yankees, record producer Ralph Peer of the Victor Talking Machine Company was making music history in Bristol TN/VA. Between July 25 and August 5 of that year, Peer conducted recording sessions using the new Western Electric electronic microphone during which 19 performers (or groups of performers) recorded 76 songs. Those sessions the now famous Bristol Sessions are known as the Big Bang of modern country music, and were called by Johnny Cash The most important event in the history of country music. The 1927 Bristol Sessions featured the first recordings of both Jimmie Rodgers, and the Carter Family. Jimmy Rodgers is now referred to as the Father of Country Music and was the first person inducted into the Country Music Hall of Fame. The Carter Family, featuring A.P., Sara, and Maybelle Carter, is now known as The First Family of Country Music and are also in the Hall of Fame. The 1927 Bristol Sessions not only initiated the careers of these superstar performers, but initiated the broad commercialization of country music. Many of the songs and stylings of those sessions still resonate and influence the music of today. For these reasons, in 1998 the United States Congress officially designated Bristol TN/VA as the Birthplace of Country Music. About Us The Birthplace of Country Music is a 501(c)(3) nonprofit organization that seeks to perpetuate, promote, and celebrate Bristol s rich musical heritage; to educate and engage audiences worldwide regarding the history, impact and legacy of the 1927 Bristol Sessions from which we derive our name; and to create recognition, opportunities, and economic benefit for our local and regional communities. BCM accomplishes this mission through its three primary branches (Museum, Festival, and Radio), special projects and events, and a multitude of community and educational outreach programs. A brief description of the three primary entities follows: 2
Birthplace of Country Music Museum The Museum, an affiliate of the Smithsonian Institution, opened on August 1, 2014. The Museum is 24,000 sq. ft. on two levels. In addition to core exhibits the Museum also houses a large space for special exhibits, a performance theater, the radio station, a learning center and The Museum Store. The Core Exhibits are highly interactive and feature a number of video experiences as well as various artifacts relating to the 1927 Bristol Sessions and other aspects of Bristol s musical legacy. The Museum has received numerous awards including the highest awards in its state organizations, and has been recognized for Leadership in History by the American Association of State and Local History. Bristol Rhythm & Roots Reunion The annual music Festival began in 2001 and has been a part of BCM since December, 2012. A 2015 Economic Impact Study showed that visitors to the Festival from outside the region had a $16.1 million impact on the region. The Festival generally hosts over 130 bands on 20 stages in downtown Bristol during the third weekend in September. Attendance has grown to approximately 45,000. Among its many accolades the Festival has been named as one of Rolling Stone s Top 20 Tours and Festivals, and has won a Grand Pinnacle Award from the International Festival and Events Association. Radio Bristol The station went live broadcasting from the Museum on August 27, 2015. Radio Bristol features a low power FM channel, three channels streaming different but related genres of music, and one channel streaming video. Streaming stations can be accessed online or using the Radio Bristol App on mobile devices. Radio Bristol is garnering attention from radio, cultural, and business organizations for its unique and innovative approach to history, music, and media. The station has listeners throughout the United States and in more than 140 countries. Independently, each of these branches strives for excellence in bringing the arts to wide audiences. Together, the entities interact synergistically through collaboration, mutual support, and the ability to bring innovative thinking to important arts programming. The result is fulfillment of the BCM Mission and progress toward its Vision. Banking Services Request for Proposals (RFP) 1. Overview The Birthplace of Country Music, Inc. (BCM) has initiated a Request for Proposal (RFP) process to identify a vendor qualified to provide comprehensive banking services. BCM is looking to contract with a vendor who can provide the following solutions: operating bank accounts, savings accounts, merchant credit card processing, direct deposit for payroll, and recurring direct collection from donor bank accounts. This RFP will assist BCM in the selection of a qualified vendor with whom BCM will enter into a professional service agreement for the delivery of banking services. 3
2. RFP Process RFP Issue - Thursday, March 1, 2018 All Questions Due - Thursday, March 15, 2018 Send any questions to bids@birthplaceofcountrymusic.org. All Questions Answered Thursday, March 22, 2018 Questions will be answered directly to those asking, via email or phone call, whichever is more appropriate. RFP Due - Friday, March 30, 2018 12:00pm (noon) Proposals may be mailed or hand-delivered to the Birthplace of Country Music Administrative Office during regular business hours. Any proposal received later than March 30 th at 12:00 p.m. (noon), whether delivered in person or mailed, shall be disqualified. RFP Review & Final Selection of Banking Services Provider - Thursday, April 19, 2018 The vendor who has been selected will be notified. Along with this, all other candidates will be notified. 3. Scope of Work BCM is currently receiving proposals for the following services: Operating Account, Checking with Interest One operating account maintaining a high five figure balance with approximately 300 transactions per month. Fee allowance should be made for increased annual activity during Bristol Rhythm & Roots Reunion in the month of September. Savings Account One savings account maintaining a low six figure balance with a maximum of four (4) transactions per year. Safety Deposit Box One safety deposit box Merchant Credit Card processing Merchant services processing for both card present and card not present transactions. According to the most recent 1099K, processing includes a total of transactions in the moderate seven figure range. Card not present transactions represent approximately one-half of the total transactions annually. September represented a bump in processing with a moderate five figure. Payroll Direct Deposit Ability to process and pay staff using direct deposit twice monthly. Recurring Credits/Debits Allows for donors to BCM to authorize repetitive withdrawals from their bank accounts. 4
Additional services BCM is not currently receiving, but could have a need for in the future; and, therefore, could be included in your proposal: Remote Deposit Capture Revolving Line of Credit Retirement Plans to include 403(b) Plans BCM is open to receiving information on any other services that can be provided by the Banking Services vendor, that BCM is currently not aware of and, therefore, not using. 4. Third Party Vendors BCM works with third party vendors and below outlines how the qualified banking services vendor will need to, in certain instances, coordinate services with them: TAM Retail BCM uses the TAM Retail System to sell admission tickets to the Birthplace of Country Music Museum and merchandise at The Museum Store (inside BCMM). Additionally, BCM coordinates through TAM an e-store to sell merchandise online. Vendini BCM uses the Vendini system to sell online all admission tickets to the Festival and to other events as they are scheduled. These sales represent 99.9% of all card not present sales. 5. Proposal Terms and Conditions All proposals should be received by Friday, March 30, 2018 by 12:00pm (noon). Any questions about the RFP should be received via email to bids@birthplaceofcountrymusic.org by Thursday, March 15, 2018, 5:00pm. Submit your proposals by mailing or delivering three (3) printed copies to the BCM office AND emailing one digital copy to bids@birthplaceofcountrymusic.org. Mail or deliver copies to: Becky Littleton, Director of Finance & Administration Birthplace of Country Music, Inc. 416 State Street, Suite A Bristol, TN 37620 All proposals must include a statement of authorization to bid, signed by a principal of the responding company. All proposals must use the proposal format outlined in this RFP. (See page 6) Bidder status: bidder must disclose any relevant conflicts of interest. Please note BCM reserves the right to reject any or all proposals for any reason at its sole discretion. 5
6. RFP Layout and Instructions As part of your proposal, please address the following: A. Title Page A title page of the proposal must include company s name, website address, corporate address, and telephone number. Also include principal contact s name and email address. B. Table of Contents The proposal must include a table of contents. C. Executive Summary Provide an executive summary of the approach your company plans to take to help BCM meet and exceed our banking needs. D. Company Information o Description of your company and the core services you provide o Organization capacity Include staff size. Include branch locations in close proximity to BCM indicate if the branch can conduct all banking services from the branch location. o Resumes of key team members who will work on the account o List of customer service personnel who will be assigned to the account to include the address of their office location o Three professional references E. Provider Process o Briefly describe your banks approach to full banking services with the Birthplace of Country Music. Include meeting schedules, reporting, major milestones, and evaluations. o Provide overview of the online management system. F. Reporting o Describe the type of reports your system provides. Include representation of online processing. o Provide any sample reports G. Cost and fees For each account provide: o Detail if the account will be interest bearing o If the account is interest bearing, interest rate o Minimum balance requirements o Monthly maintenance fees o Does your platform support dual signature requirements o Insurance coverage parameters H. Additional information o Provide any additional information you feel is unique or pertinent to your company as it pertains to you providing exceptional banking services. 6
7. Additional Information or Clarification Contact: Birthplace of Country Music, Inc. 416 State Street, Suite A Bristol, TN 37620 Becky Littleton, Director of Finance bids@birthplaceofcountrymusic.org Please, no phone calls 7