Blues Foundation Inc
- Assets
- $4.5m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 14
- Location
- Memphis, TN
- Founding
- 09/1980
- Data as of
- 09/2021
- EIN
- 62-1083757
Organization Overview
Blues Foundation Inc is located in Memphis, TN. The organization was established in 1980. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2021, Blues Foundation Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blues Foundation 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 09/2021, Blues Foundation Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $1.1m during the year ending 09/2021. 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 BLUES HERITAGE, CELEBRATE BLUES RECORDING AND PERFORMANCE, EXPAND WORLDWIDE AWARENESS OF THE BLUES, AND ENSURE THE FUTURE OF THIS UNIQUELY AMERICAN ART FORM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BLUES MUSIC AWARDS BRING TOGETHER BLUES PERFORMERS, INDUSTRY REPRESENTATIVES AND FANS FROM ALL OVER THE WORLD TO CELEBRATE THE BEST IN BLUES RECORDINGS AND PERFORMANCES FROM THE PREVIOUS YEAR. EACH YEAR, THE FOUNDATION PRESENTS THE BLUES MUSIC AWARDS TO THE ARTISTS SELECTED BY ITS MEMBERS. THEY ARE INTERNATIONALLY RECOGNIZED AS THE HIGHEST HONOR GIVEN TO BLUES ARTISTS.
THE INTERNATIONAL BLUES CHALLENGE HAS EVOLVED INTO THE WORLD'S BIGGEST AND MOST RESPECTED SHOWCASE FOR BLUES MUSICIANS READY TO TAKE THEIR ACT TO THE NEXT LEVEL. THE IBC IS A JUDGED "BATTLE OF THE BANDS" IN WHICH COMPETITORS TAKE THE STAGE AND PLAY A SHORT SET FOR A PANEL OF JUDGES. THE ACTS ARE JUDGED BASED ON AN ESTABLISHED SET OF CRITERIA. THE FOUR-DAY EVENT ALSO FEATURES PANELS EXPLORING AREAS OF INTEREST TO THE BLUES GENRE.
SCHOLARSHIPS OFFERED TO YOUNG BLUES MUSICIANS TO ATTEND INTRUCTIONAL PROGRAMS AND DONATIONS PROVIDED TO MUSICIANS AND THEIR FAMILIES TO ASSIST WITH MEDICAL AND FUNERAL BILLS.
MISCELLANEOUS OTHER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Wilson Aden President & | Officer | 40 | $36,250 |
Ronald Scott Fitzke Interim Boar | OfficerTrustee | 4 | $0 |
Sherry May Treasurer | OfficerTrustee | 4 | $0 |
Cheryl Pawelski Director | OfficerTrustee | 4 | $0 |
Kathy Bolmer Director | Trustee | 4 | $0 |
Terika Dean Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $455,387 |
| All other contributions, gifts, grants, and similar amounts not included above | $404,985 |
| Noncash contributions included in lines 1a–1f | $20,250 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $860,372 |
| Total Program Service Revenue | $353,823 |
| Investment income | $5,494 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $9,677 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $12,434 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,249,645 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $181,065 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $145,000 |
| Compensation of current officers, directors, key employees. | $72,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $199,854 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,289 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $78,707 |
| Advertising and promotion | $43,446 |
| Office expenses | $23,404 |
| Information technology | $18,620 |
| Royalties | $0 |
| Occupancy | $24,552 |
| Travel | $759 |
| 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 | $91,982 |
| Insurance | $24,171 |
| All other expenses | $41,156 |
| Total functional expenses | $1,107,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $622,994 |
| Savings and temporary cash investments | $671,550 |
| Pledges and grants receivable | $8,181 |
| Accounts receivable, net | $55,988 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $80,286 |
| Inventories for sale or use | $49,119 |
| Prepaid expenses and deferred charges | $1,757 |
| Net Land, buildings, and equipment | $2,206,865 |
| Investments—publicly traded securities | $257,067 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $43,272 |
| Other assets | $536,856 |
| Total assets | $4,533,935 |
| Accounts payable and accrued expenses | $37,066 |
| Grants payable | $0 |
| Deferred revenue | $20,175 |
| 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 | $4,123 |
| Total liabilities | $61,364 |
| Net assets without donor restrictions | $3,779,813 |
| Net assets with donor restrictions | $692,758 |
| 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 | $4,533,935 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Blues Foundation Inc has recieved totaling $112,055.
| Awarding Organization | Amount |
|---|---|
Arts Memphis Memphis, TN PURPOSE: OPERATING SUPPORT & RECOVERY | $30,250 |
Haven Foundation New York, NY PURPOSE: TO HELP FREELANCE WRITERS AND ARTISTS WHO HAVE CAREER-THREATENING ILLNESS | $25,000 |
Blue Waters Foundation Inc Annapolis, MD PURPOSE: PROMOTION OF AMERICA'S NATIVE MUSIC ART FORM-BLUES | $20,767 |
J R Hyde Iii Foundation Memphis, TN PURPOSE: CAPACITY-BUILDING SUPPORT | $20,000 |
Miller Foundation White Plains, NY PURPOSE: GENERAL SUPPORT | $10,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $5,788 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jazz St Louis St Louis, MO | $11,818,193 | $2,884,733 |
Birthplace Of Country Music Alliance Bristol, TN | $15,699,295 | $2,559,665 |
Musicians On Call Inc Nashville, TN | $3,633,934 | $3,486,106 |
Ragtag Film Society Columbia, MO | $1,382,564 | $1,866,748 |
Radio Arts Foundation Clayton, MO | $3,517,540 | $1,458,263 |
Garth Newel Music Center Foundation Corp Warm Springs, VA | $11,030,155 | $3,286,449 |
Blues Foundation Inc Memphis, TN | $4,533,935 | $1,249,645 |
Songbirds Foundation Inc Chattanooga, TN | $16,669,845 | $490,877 |
Community Arts Association In Newton County Inc Covington, GA | $760,838 | $850,953 |
Virginia Musical Theatre Inc Virginia Beach, VA | $428,462 | $648,568 |
Musicians Hall Of Fame And Museum Nashville, TN | $2,497,299 | $1,370,985 |
Jazzarts Charlotte Charlotte, NC | $599,650 | $885,033 |