Colorado Music Hall Of Fame
- Assets
- $374.0k
- Revenue
- $123.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Denver, CO
- Founding
- 11/2011
- Data as of
- 12/2022
- EIN
- 27-2529106
Organization Overview
Colorado Music Hall Of Fame is located in Denver, CO. The organization was established in 2011. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colorado Music Hall Of Fame is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Colorado Music Hall Of Fame generated $123.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.7%) each year. All expenses for the organization totaled $245.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
COLORADO MUSIC HALL OF FAME CELEBRATES, PROMOTES AND SUPPORTS COLORADO'S MUSIC COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLORADO MUSIC HALL OF FAME CONDUCTED A MAJOR RENOVATION AND REFRESH OF ITS MUSEUM EXHIBITS. NEW BILINGUAL (SPANISH/ENGLISH) EXHIBITS WERE DESIGNED AND INSTALLED WITH A NEW FLOOR PLAN AT OUR MUSEUM AT RED ROCKS AMPHITHEATRE'S TRADING POST. WITH PANDEMIC SCHEDULING DELAYS IN HOSTING THE HALL OF FAME'S 2021 INDUCTION CLASS, THE HALL HAD TO PIVOT AND INSTEAD OF INDUCTING THE FIVE HONOREES AT A SINGLE EVENT, FOUR OF THE FIVE HALL OF FAMERS WERE INDUCTED INDIVIDUALLY AT THEIR OWN CONCERTS. A 2022 INDUCTION CLASS WAS SKIPPED IN ORDER TO ACCOMMODATE THE 2021 INDUCTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Radman Executive Di | Officer | 40 | $124,583 |
Paul Epstein Co-Chair | OfficerTrustee | 4 | $0 |
Scott Tobias Co-Chair | OfficerTrustee | 4 | $0 |
Dave Plati Secretary | OfficerTrustee | 1 | $0 |
Troy Duran Treasurer | OfficerTrustee | 2 | $0 |
Robert Blume Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $31,495 |
| All other contributions, gifts, grants, and similar amounts not included above | $95,479 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $126,974 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$9,902 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $123,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $145,384 |
| Compensation of current officers, directors, key employees. | $4,224 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,589 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,056 |
| Advertising and promotion | $6,653 |
| Office expenses | $5,228 |
| Information technology | $179 |
| Royalties | $0 |
| Occupancy | $2,705 |
| Travel | $2,263 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,557 |
| Insurance | $7,494 |
| All other expenses | $0 |
| Total functional expenses | $245,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $184,257 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $38,762 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $148,456 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $373,975 |
| Accounts payable and accrued expenses | $4,963 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,963 |
| Net assets without donor restrictions | $369,012 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $373,975 |