International Bluegrass Music Association Inc
- Assets
- $1.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 6
- Location
- Nashville, TN
- Founding
- 03/2008
- Data as of
- 06/2022
- 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 06/2022, 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 06/2022, International Bluegrass Music Association Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. 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
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 |
|---|---|---|---|
Patrick Morris Executive Director | Officer | 40 | $51,504 |
Paul J Schiminger Executive Director | Officer | 40 | $45,346 |
Mike Simpson Chair/president | OfficerTrustee | 0 | $0 |
Ashley Moyer Vice-Chair | OfficerTrustee | 0 | $0 |
Adam Engelhardt Treasurer | OfficerTrustee | 0 | $0 |
Michael Kaiz Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $125,620 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $651,519 |
| All other contributions, gifts, grants, and similar amounts not included above | $142,115 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $919,254 |
| Total Program Service Revenue | $622,524 |
| Investment income | $1,919 |
| 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 | $10,253 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,560,553 |
| 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. | $113,138 |
| Compensation of current officers, directors, key employees. | $47,518 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $152,422 |
| Pension plan accruals and contributions | $3,203 |
| Other employee benefits | $18,748 |
| Payroll taxes | $17,975 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $396 |
| Fees for services: Accounting | $43,189 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $477,321 |
| Advertising and promotion | $18,342 |
| Office expenses | $4,887 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,558 |
| Travel | $67,952 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,150 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,320 |
| All other expenses | $64,060 |
| Total functional expenses | $1,254,880 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $429,319 |
| Savings and temporary cash investments | $724,543 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,019 |
| 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 | $49,182 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,855 |
| Total assets | $1,219,918 |
| Accounts payable and accrued expenses | $57,928 |
| Grants payable | $0 |
| Deferred revenue | $281,195 |
| 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 | $489,123 |
| Net assets without donor restrictions | $730,795 |
| 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 | $1,219,918 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that International Bluegrass Music Association Inc has recieved totaling $200.
| Awarding Organization | Amount |
|---|---|
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Penner Family Foundation Bentonville, AR | $146,107,822 | $15,983,833 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Claude And Betty Harris Foundation Inc Louisville, KY | $58,528,117 | $25,952,323 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |