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Nonprofiteer
← INTERNATIONAL BLUEGRASS MUSIC MUSEUM INC

Form 990 for tax year 2024

Filed by INTERNATIONAL BLUEGRASS MUSIC MUSEUM INC.

Totals

Total revenue
$3,463,092
Total expenses
$3,731,392
Contributions and grants received
$954,733
Grants paid
$0
Program service revenue
$1,179,573
Investment income
$36,904
Other revenue
$1,291,882
Total assets, end of year
$9,246,137
Total liabilities, end of year
$279,055
Net assets or fund balances, end of year
$8,967,082
Program services expenses (Part IX)
$3,364,404
Management and general expenses
$343,752
Fundraising expenses
$23,236
Program service expenses (Part III)
$3,364,404

Program services were 90.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $12,205

  • 1e · Government grants (contributions)

    $664,459

  • 1f · All other contributions, gifts and grants

    $278,069

  • 2a · Program service revenue: Gift Shop & Concession Sales

    total $390,932 · related or exempt $390,932

  • 2b · Program service revenue: Admissions

    total $367,259 · related or exempt $367,259

  • 2c · Program service revenue: Sponsors

    total $341,000 · related or exempt $341,000

  • 2d · Program service revenue: Subscriptions

    total $80,382 · related or exempt $80,382

  • 3 · Investment income

    total $36,904 · related or exempt $36,904

  • 6a · Gross rents

    real property $228,762

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $228,762

  • 6d · Net rental income or loss

    total $228,762 · related or exempt $228,762

  • 10a · Gross sales of inventory

    $1,057,650

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $1,057,650 · related or exempt $1,057,650

  • 11a · Other revenue: MISC REVENUE

    total $5,470 · related or exempt $5,470

  • 11e · Other revenue, total

    $5,470

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $661,004 · program services $561,853 · management and general $99,151

  • 10 · Payroll taxes

    total $53,007 · program services $39,755 · management and general $13,252

  • 11g · Fees: other

    total $139,487 · management and general $139,487

  • 12 · Advertising and promotion

    total $129,337 · program services $129,337

  • 13 · Office expenses

    total $78,183 · program services $58,637 · management and general $19,546

  • 17 · Travel

    total $99,214 · program services $99,214

  • 20 · Interest

    total $1,264 · program services $1,264

  • 22 · Depreciation, depletion and amortization

    total $103,019 · program services $103,019

  • 23 · Insurance

    total $51,042 · program services $51,042

  • 24a · Other expenses: Rental

    total $505,315 · program services $505,315

  • 24b · Other expenses: Performance

    total $426,166 · program services $426,166

  • 24c · Other expenses: Artist Fees

    total $390,169 · program services $390,169

  • 24d · Other expenses: Miscellaneous

    total $276,284 · program services $253,048 · fundraising $23,236

  • 24e · All other expenses

    total $817,901 · program services $745,585 · management and general $72,316

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,048,563 · end of year $1,094,866

  • 4 · Accounts receivable

    beginning of year $26,974 · end of year $43,000

  • 7 · Other notes and loans receivable

    beginning of year $6,357,239 · end of year $5,852,452

  • 8 · Inventories for sale or use

    beginning of year $52,358 · end of year $95,892

  • 10a · Land, buildings and equipment: cost or other basis

    $1,524,176

  • 10b · Land, buildings and equipment: accumulated depreciation

    $627,449

  • 10c · Land, buildings and equipment, net

    beginning of year $936,928 · end of year $896,727

  • 13 · Investments: program-related

    beginning of year $757,158 · end of year $845,614

  • 14 · Intangible assets

    beginning of year $417,586 · end of year $417,586

  • 17 · Accounts payable and accrued expenses

    beginning of year $306,048 · end of year $63,897

  • 19 · Deferred revenue

    beginning of year $137,235 · end of year $213,551

  • 25 · Other liabilities

    beginning of year $1,713 · end of year $1,607

  • 27 · Net assets without donor restrictions

    beginning of year $2,037,413 · end of year $1,769,016

  • 28 · Net assets with donor restrictions

    beginning of year $7,114,397 · end of year $7,198,066

Mission and programs · 2024

Mission

None

Activities or mission (Part I)

To provide museum tours to the general public which allows visitors to view Bluegrass memorbilia; To educate the public on the history of Bluegrass music; to provide music programs to educate and entertain; to build new audiences for Bluegrass music; and to enhance the image of Bluegrass music and spur its growth.

  • River of Music Party (ROMP): This is an annual festival with high-level international acts. We provide free tickets to indigent families, hospice patients, residents of nursing homes and assisted living facilities, and students of all ages who performed on the main stage at ROMP.

    Expenses $3,364,404 · Revenue $1,999,390

  • Various Expenses

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Phil Clark

    Former Chair / Asst Treasurer

    Total calculated
    $0
    Hours/week
    0

  • Terry Woodward

    Treasurer

    Total calculated
    $0
    Hours/week
    0

  • Ross Leazenby

    Trustee Emeritus

    Total calculated
    $0
    Hours/week
    0

  • Tom Watson

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Ben Clark

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Candy Englebert

    Vice Chair

    Total calculated
    $0
    Hours/week
    0

  • Jen Larson

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Kyle Cantrell

    Chair

    Total calculated
    $0
    Hours/week
    0

  • Jon Lawson

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Ronnie Reno

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Kathryn Raymer

    Secretary

    Total calculated
    $0
    Hours/week
    0

  • Buzz Backstrom

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Jana Mougin

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Ken White

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Dudley Connell

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Emily Woosley

    Trustee

    Total calculated
    $0
    Hours/week
    0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
19 May 2025
IRS schema version
2024v5.1
Source object
202501679349301975

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