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Nonprofiteer
← INTERNATIONAL BLUEGRASS MUSIC MUSEUM INC

Form 990 for tax year 2023

Filed by INTERNATIONAL BLUEGRASS MUSIC MUSEUM INC.

Totals

Total revenue
$3,222,960
Total expenses
$3,306,171
Contributions and grants received
$556,845
Grants paid
$0
Program service revenue
$1,999,390
Investment income
$37,131
Other revenue
$629,594
Total assets, end of year
$9,596,807
Total liabilities, end of year
$444,997
Net assets or fund balances, end of year
$9,151,810
Program services expenses (Part IX)
$2,944,818
Management and general expenses
$361,293
Fundraising expenses
$60
Program service expenses (Part III)
$2,944,818

Program services were 89.1% 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

    $8,265

  • 1e · Government grants (contributions)

    $220,550

  • 1f · All other contributions, gifts and grants

    $328,030

  • 2a · Program service revenue: DIRECT EVENT

    total $1,033,317 · related or exempt $1,033,317

  • 2b · Program service revenue: GIFT SHOP & CONCESSION SALES

    total $315,939 · related or exempt $315,939

  • 2c · Program service revenue: ADMISSIONS

    total $295,767 · related or exempt $295,767

  • 2d · Program service revenue: SPONSORS

    total $295,500 · related or exempt $295,500

  • 2e · Program service revenue: SUBSCRIPTIONS

    total $58,867 · related or exempt $58,867

  • 3 · Investment income

    total $37,131 · related or exempt $37,131

  • 6a · Gross rents

    real property $260,638

  • 6c · Rental income or loss

    real property $260,638

  • 6d · Net rental income or loss

    total $260,638 · related or exempt $260,638

  • 11a · Other revenue: MISC REVENUE

    total $368,956 · related or exempt $368,956

  • 11e · Other revenue, total

    $368,956

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $671,023 · program services $570,370 · management and general $100,653

  • 10 · Payroll taxes

    total $51,727 · program services $38,795 · management and general $12,932

  • 11g · Fees: other

    total $173,959 · management and general $173,959

  • 12 · Advertising and promotion

    total $165,394 · program services $165,394

  • 13 · Office expenses

    total $33,152 · program services $24,864 · management and general $8,288

  • 17 · Travel

    total $85,256 · program services $85,256

  • 20 · Interest

    total $8,407 · program services $8,407

  • 22 · Depreciation, depletion and amortization

    total $85,536 · program services $85,536

  • 23 · Insurance

    total $31,890 · program services $31,890

  • 24a · Other expenses: RENTALS

    total $476,700 · program services $448,098 · management and general $28,602

  • 24b · Other expenses: ARTIST FEES

    total $409,483 · program services $409,483

  • 24c · Other expenses: PERFORMANCE

    total $290,844 · program services $290,844

  • 24d · Other expenses: PRODUCTOIN RELATED

    total $239,905 · program services $239,905

  • 24e · All other expenses

    total $582,895 · program services $545,976 · management and general $36,859 · fundraising $60

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $891,513 · end of year $1,048,563

  • 4 · Accounts receivable

    beginning of year $766 · end of year $26,974

  • 7 · Other notes and loans receivable

    end of year $6,357,239

  • 8 · Inventories for sale or use

    beginning of year $39,726 · end of year $52,358

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

    $1,461,359

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

    $524,430

  • 10c · Land, buildings and equipment, net

    beginning of year $690,038 · end of year $936,929

  • 13 · Investments: program-related

    beginning of year $971,064 · end of year $757,158

  • 14 · Intangible assets

    beginning of year $417,585 · end of year $417,586

  • 17 · Accounts payable and accrued expenses

    beginning of year $490,804 · end of year $306,049

  • 19 · Deferred revenue

    beginning of year $205,010 · end of year $137,235

  • 25 · Other liabilities

    beginning of year $1,625 · end of year $1,713

  • 27 · Net assets without donor restrictions

    beginning of year $1,131,454 · end of year $2,037,413

  • 28 · Net assets with donor restrictions

    beginning of year $1,181,799 · end of year $7,114,397

Mission and programs · 2023

Mission

TO PROVIDE MUSEUM TOURS TO THE GENERAL PUBLIC WHICH ALLOWS VISITORS TO VIEW BLUEGRASS MEMORABILIA, 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, 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 $2,944,818 · Revenue $1,999,390

  • VARIOUS EXPENSES

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

Listed in Part VII

  • Terry Brownson

    SECRETARY

    Total calculated
    $0

  • Kyle Cantrell

    TRUSTEE

    Total calculated
    $0

  • Ben Clark

    TRUSTEE

    Total calculated
    $0

  • Candy Englebert

    TRUSTEE

    Total calculated
    $0

  • John Haynes

    TRUSTEE

    Total calculated
    $0

  • Scott Jagoe

    TREASURER

    Total calculated
    $0

  • Chris Joslin

    EXECUTIVE DI

    Total calculated
    $0

  • Jen Larson

    TRUSTEE

    Total calculated
    $0

  • Jon Lawson

    TRUSTEE

    Total calculated
    $0

  • Ross Leazenby

    TRUSTEE

    Total calculated
    $0

  • Chris Love

    CHAIRMAN

    Total calculated
    $0

  • Kathryn Raymer

    TRUSTEE

    Total calculated
    $0

  • Ronnie Reno

    TRUSTEE

    Total calculated
    $0

  • Tom Watson

    TRUSTEE

    Total calculated
    $0

  • Terry Woodward

    EXECUTIVE CO

    Total calculated
    $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
2023
Filed
19 March 2024
IRS schema version
2023v5.0
Source object
202401019349300420

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