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← BRUCE SPRINGSTEEN ARCHIVES AND CENTER FOR AMERICAN MUSIC CORPORAT

Form 990 for tax year 2023

Filed by BRUCE SPRINGSTEEN ARCHIVES AND CENTER FOR AMERICAN MUSIC CORPORAT.

Totals

Total revenue
$2,412,730
Total expenses
$1,586,203
Contributions and grants received
$1,867,156
Grants paid
$1,500
Program service revenue
$230,730
Investment income
$258,746
Other revenue
$56,098
Total assets, end of year
$13,193,981
Total liabilities, end of year
$982,288
Net assets or fund balances, end of year
$12,211,693
Program services expenses (Part IX)
$841,354
Management and general expenses
$273,631
Fundraising expenses
$471,218
Program service expenses (Part III)
$841,354

Program services were 53.0% 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.

  • 1c · Fundraising events

    $639,910

  • 1f · All other contributions, gifts and grants

    $1,227,246

  • 1g · Noncash contributions included above

    $3,000

  • 2a · Program service revenue: PUBLIC PRGM./EXHIBITS

    total $230,730 · related or exempt $230,730

  • 3 · Investment income

    total $258,746 · excluded $258,746

  • 8a · Fundraising events: gross income

    $201,250

  • 8a · Fundraising events: contributions included on line 1c

    $639,910

  • 8b · Fundraising events: direct expenses

    $178,844

  • 8c · Net income from fundraising events

    total $22,406 · excluded $22,406

  • 10a · Gross sales of inventory

    $70,192

  • 10b · Cost of goods sold

    $36,500

  • 10c · Net income from sales of inventory

    total $33,692 · related or exempt $33,692

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,500 · program services $1,500

  • 5 · Compensation of officers, directors and key employees

    total $214,529 · program services $57,674 · management and general $76,112 · fundraising $80,743

  • 7 · Other salaries and wages

    total $440,856 · program services $313,790 · management and general $94,797 · fundraising $32,269

  • 8 · Pension plan contributions

    total $8,400 · program services $4,558 · management and general $2,630 · fundraising $1,212

  • 9 · Other employee benefits

    total $76,730 · program services $60,460 · management and general $11,954 · fundraising $4,316

  • 10 · Payroll taxes

    total $46,522 · program services $25,787 · management and general $12,794 · fundraising $7,941

  • 11b · Fees: legal

    total $800 · management and general $800

  • 11c · Fees: accounting

    total $24,100 · management and general $24,100

  • 11e · Fees: professional fundraising services

    total $43,000 · fundraising $43,000

  • 11g · Fees: other

    total $380,180 · program services $179,576 · management and general $1,779 · fundraising $198,825

  • 13 · Office expenses

    total $104,501 · program services $85,571 · management and general $10,013 · fundraising $8,917

  • 14 · Information technology

    total $3,413 · program services $3,413

  • 17 · Travel

    total $106,936 · program services $67,514 · management and general $9,582 · fundraising $29,840

  • 24a · Other expenses: EQUIPMENT RENTAL

    total $56,505 · fundraising $56,505

  • 24b · Other expenses: BANK FEES

    total $32,905 · program services $2,032 · management and general $26,771 · fundraising $4,102

  • 24c · Other expenses: COLLECTIONS EXPENSE

    total $16,386 · program services $16,386

  • 24d · Other expenses: COMPETITION PRIZE

    total $15,000 · program services $15,000

  • 24e · All other expenses

    total $13,940 · program services $8,093 · management and general $2,299 · fundraising $3,548

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $11,390,922 · end of year $11,941,651

  • 3 · Pledges and grants receivable

    beginning of year $703,863 · end of year $1,196,946

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $21,200

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,565 · end of year $6,355

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

    $27,829

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $27,829

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $2,271

  • 19 · Deferred revenue

    beginning of year $0 · end of year $40,000

  • 25 · Other liabilities

    beginning of year $719,708 · end of year $940,017

  • 27 · Net assets without donor restrictions

    beginning of year $10,831,227 · end of year $10,895,397

  • 28 · Net assets with donor restrictions

    beginning of year $545,415 · end of year $1,316,296

Mission and programs · 2023

Mission

SEE SCHEDULE OTHE BRUCE SPRINGSTEEN ARCHIVES AND CENTER FOR AMERICAN MUSIC CORPORATION (THE "CENTER") WAS ORGANIZED ON NOVEMBER 27, 2017, AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES TO SUPPORT THE ACTIVITIES OF MONMOUTH UNIVERSITY (THE "UNIVERSITY"), AN EDUCATIONAL INSTITUTION THAT IS TAX EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986. THE CENTER SHALL BE RESPONSIBLE FOR ARCHIVING TO PRESERVE AND PROMOTE THE LEGACY OF BRUCE SPRINGSTEEN AND HIS ROLE IN THE HISTORY OF AMERICAN MUSIC AS WELL AS OTHER FIGURES RELATING TO AMERICAN MUSIC THE AFFILIATE MAY HEREAFTER ACQUIRE OR GAIN ACCESS TO. THE CENTER WILL SEEK TO CREATE ACADEMIC, PERFORMANCE AND EXHIBIT SPACES, ENABLING THE CENTER TO BECOME A MAJOR INTERNATIONAL SCHOLARLY RESOURCE FOR ACADEMIC RESEARCHERS AND MUSIC HISTORIANS.

Activities or mission (Part I)

THE CENTER PRESERVES THE LEGACY OF BRUCE SPRINGSTEEN AND CELEBRATES THE HISTORY (CONT. IN SCH. O) OF AMERICAN MUSIC AND ITS DIVERSITY OF ARTISTS AND GENRES.

  • EDUCATIONTHE CENTER WILL CREATE A MUSICAL ARTS CENTER ON BEHALF OF MONMOUTH UNIVERSITY WHICH WILL HOUSE AN EXPANSIVE ARCHIVE TO PRESERVE AND PROMOTE THE LEGACY OF BRUCE SPRINGSTEEN AND HIS ROLE IN THE HISTORY OF AMERICAN MUSIC. THE CENTER WILL HOUSE BOTH THE UNIVERSITY'S AND BRUCE SPRINGSTEEN'S COLLECTIONS, CREATING AN OPEN AND INVITING EXHIBITION SPACE TO PERMANENTLY SHOWCASE SUCH COLLECTIONS AS WELL AS OTHER COLLECTIONS RELATING TO AMERICAN MUSIC, AND CREATING ACADEMIC, PERFORMANCE AND EXHIBIT SPACE ENABLING THE SPRINGSTEEN CENTER TO BECOME A MAJOR INTERNATIONAL SCHOLARLY RESOURCE FOR ACADEMIC RESEARCHERS AND MUSIC HISTORIANS. THE CENTER CONDUCTED PROGRAM ACTIVITIES INCLUDING TRAVELING EXHIBITS AND EDUCATIONAL SYMPOSIUMS DURING THE FYE 6/30/24.

    Expenses $841,354 · Grants $1,500 · Revenue $264,422

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Patrick F Leahy

    CHAIRPERSON/DIRECTOR

    Total calculated
    $1,029,009
    From this org
    $0
    From related orgs
    $844,789
    Other
    $184,220
    Hours/week
    7 + 63 related

    Schedule J breakdown matched by us

    Base
    $0 + $567,277 related
    Bonus
    $0 + $275,000 related
    Other
    $0 + $2,512 related
    Deferred
    $0 + $26,400 related
    Nontaxable benefits
    $0 + $157,820 related
    Filer's total
    $0 + $1,029,009 related

  • Barry Rosenstein

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jon Landau

    VICE CHAIRPERSON/DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Henry D Mercer III

    ASST. TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Grey J Dimenna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Don Friedman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lisa McKean

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Michael A Plodwick

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ann Unterberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marilyn Laverty

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nwaka Onwusa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elliott Groffman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Leslie Hitchner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Jeana Piscatelli

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Brian Samelson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charlene K Diana

    SECRETARY, VP & GENERAL COUNSEL

    Total calculated
    $301,582
    From this org
    $0
    From related orgs
    $265,803
    Other
    $35,779
    Hours/week
    5 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,050 related
    Bonus
    $0
    Other
    $0 + $753 related
    Deferred
    $0 + $21,400 related
    Nontaxable benefits
    $0 + $14,379 related
    Filer's total
    $0 + $301,582 related

  • Robert Santelli

    EXECUTIVE DIRECTOR

    Total calculated
    $235,280
    From this org
    $234,324
    From related orgs
    $0
    Other
    $956
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $221,095
    Bonus
    $0
    Other
    $13,229
    Deferred
    $0
    Nontaxable benefits
    $956
    Filer's total
    $235,280

  • Eileen S Chapman

    DIR. OF BSA & CAM AT MU

    Total calculated
    $169,317
    From this org
    $39,963
    From related orgs
    $88,949
    Other
    $40,405
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $37,944 + $84,456 related
    Bonus
    $0
    Other
    $2,019 + $4,493 related
    Deferred
    $3,197 + $7,115 related
    Nontaxable benefits
    $9,329 + $20,764 related
    Filer's total
    $52,489 + $116,828 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
TAX GROSS-UP PAYMENT ROBERT SANTELLI, EXECUTIVE DIRECTOR OF THE CENTER, RECEIVED TAX GROSS-UP PAYMENTS RELATED TO PERSONAL TRAVEL EXPENSES WHICH WERE INCLUDED IN HIS REPORTABLE COMPENSATION. THE PAYMENT ALSO INCLUDED THE AMOUNT OF TAX ALLOCABLE TO THOSE WAGES. THIS AMOUNT IS REPORTED IN PART VII, COLUMN D AS "OTHER REPORTABLE COMPENSATION".

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
18 December 2024
IRS schema version
2023v5.1
Source object
202443539349300104

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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