International Bluegrass Music Association Inc
- Assets
- $1.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 6
- Location
- Nashville, TN
- Founding
- 03/2008
- Data as of
- 06/2023
- EIN
- 38-3764317
Organization Overview
International Bluegrass Music Association Inc is located in Nashville, TN. The organization was established in 2008. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2023, International Bluegrass Music Association Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Bluegrass Music Association Inc 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 06/2023, International Bluegrass Music Association Inc generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $1.5m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WORKING TOGETHER FOR HIGH STANDARDS OF PROFESSIONALISM, A GREATER APPRECIATION FOR OUR MUSIC AND THE SUCCESS OF THE WORLDWIDE BLUEGRASS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRADE SHOW - PROGRAM PROVIDES AN OPPORTUNITY FOR THOSE IN THE INDUSTRY TO MEET & DISCUSS ISSUES AFFECTING THE INDUSTRY. IT ALSO IS AN OPPORTUNITY FOR EMERGING MUSICIANS TO MAKE CONTACT WITH OTHERS WITHIN THE INDUSTRY, THEREBY PROMOTING BLUEGRASS.
IBMA BLUEGRASS LIVE! - MUSICIANS DONATE THEIR TIME AND TALENT TO PROMOTE BLUEGRASS MUSIC TO THE PUBLIC.
AWARDS SHOW - PROVIDES AN OPPORTUNITY FOR THE ORGANIZATION TO RECOGNIZE THOSE INDIVIDUALS IN THE INDUSTRY WHO HAVE SUCCESSFULLY PROMOTED BLUEGRASS MUSIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Boner Chair/president | OfficerTrustee | 0 | $0 |
Ashley Moyer Vice-Chair | OfficerTrustee | 0 | $0 |
Adam Engelhardt Treasurer | OfficerTrustee | 0 | $0 |
Michael Kaiz Secretary | OfficerTrustee | 0 | $0 |
Darin Aldridge Director | Trustee | 0 | $0 |
Christine Funk Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $166,025 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $461,028 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $687,053 |
| Total Program Service Revenue | $687,645 |
| Investment income | $7,078 |
| 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 | $8,995 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,405,959 |
| 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. | $118,255 |
| Compensation of current officers, directors, key employees. | $49,667 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $163,403 |
| Pension plan accruals and contributions | $4,080 |
| Other employee benefits | $29,033 |
| Payroll taxes | $19,484 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $379 |
| Fees for services: Accounting | $43,045 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $583,449 |
| Advertising and promotion | $15,658 |
| Office expenses | $8,041 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $60,187 |
| Travel | $57,305 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,180 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,065 |
| All other expenses | $131,051 |
| Total functional expenses | $1,479,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,050 |
| Savings and temporary cash investments | $996,247 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,790 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,275 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,145,362 |
| Accounts payable and accrued expenses | $19,550 |
| Grants payable | $0 |
| Deferred revenue | $341,751 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $511,301 |
| Net assets without donor restrictions | $634,061 |
| 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 | $1,145,362 |