American Banjo Museum Inc
- Assets
- $7.7m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 6
- Location
- Oklahoma City, OK
- Founding
- 02/1998
- Data as of
- 12/2021
- EIN
- 73-1526929
Organization Overview
American Banjo Museum Inc is located in Oklahoma City, OK. The organization was established in 1998. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, American Banjo Museum Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Banjo Museum 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 12/2021, American Banjo Museum Inc generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (8.8%) each year. All expenses for the organization totaled $662.5k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND PROMOTE THE BANJO WHILE EXPANDING APPRECIATION OF ITS HISTORY AND MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH BANJO PROGRAM
BANJO HALL OF FAME
EDUCATION ON THE HISTORY AND DEVELOPMENT OF THE FIVE STRING BANJO
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Johnny Baier Executive Dir. | Officer | 40 | $113,213 |
Lester Cowden Jr Vice President | Trustee | 1 | $0 |
Debbie Schreyer Director | Trustee | 1 | $0 |
Alan Tompkins Director | Trustee | 1 | $0 |
John Mumford Director | Trustee | 1 | $0 |
Brian Newsom Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $515,018 |
| Investment income | $449,192 |
| 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 | $5,254 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,022,671 |
| Statement of Expenses | |
|---|---|
| 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. | $74,931 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $108,738 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,780 |
| Payroll taxes | $16,617 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,343 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,755 |
| Office expenses | $6,477 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $312 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $86,541 |
| Insurance | $20,268 |
| All other expenses | $0 |
| Total functional expenses | $662,480 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $193,230 |
| Savings and temporary cash investments | $2,566,808 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $247,003 |
| Inventories for sale or use | $7,954 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,337,621 |
| Total assets | $7,687,367 |
| Accounts payable and accrued expenses | $0 |
| 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 | $9,256 |
| Total liabilities | $9,256 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $7,678,111 |