Bruce Springsteen Archives And Center For American Music Corporat
- Assets
- $13.2m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 17
- Location
- West Long Branch, NJ
- Founding
- 10/2018
- Data as of
- 06/2024
- EIN
- 82-5325604
Organization Overview
Bruce Springsteen Archives And Center For American Music Corporat is located in West Long Branch, NJ. The organization was established in 2018. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2024, Bruce Springsteen Archives And Center For American Music Corporat employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bruce Springsteen Archives And Center For American Music Corporat 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 06/2024, Bruce Springsteen Archives And Center For American Music Corporat generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 27.9% each year . All expenses for the organization totaled $1.6m during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE CENTER PRESERVES THE LEGACY OF BRUCE SPRINGSTEEN AND CELEBRATES THE HISTORY (CONT. IN SCH. O) OF AMERICAN MUSIC AND ITS DIVERSITY OF ARTISTS AND GENRES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONTHE CENTER WILL CREATE A MUSICAL ARTS CENTER ON BEHALF OF MONMOUTH UNIVERSITY WHICH WILL HOUSE AN EXPANSIVE ARCHIVE TO PRESERVE AND PROMOTE THE LEGACY OF BRUCE SPRINGSTEEN AND HIS ROLE IN THE HISTORY OF AMERICAN MUSIC. THE CENTER WILL HOUSE BOTH THE UNIVERSITY'S AND BRUCE SPRINGSTEEN'S COLLECTIONS, CREATING AN OPEN AND INVITING EXHIBITION SPACE TO PERMANENTLY SHOWCASE SUCH COLLECTIONS AS WELL AS OTHER COLLECTIONS RELATING TO AMERICAN MUSIC, AND CREATING ACADEMIC, PERFORMANCE AND EXHIBIT SPACE ENABLING THE SPRINGSTEEN CENTER TO BECOME A MAJOR INTERNATIONAL SCHOLARLY RESOURCE FOR ACADEMIC RESEARCHERS AND MUSIC HISTORIANS. THE CENTER CONDUCTED PROGRAM ACTIVITIES INCLUDING TRAVELING EXHIBITS AND EDUCATIONAL SYMPOSIUMS DURING THE FYE 6/30/24.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick F Leahy Chairperson/director | OfficerTrustee | 7 | $0 |
Barry Rosenstein Treasurer/director | OfficerTrustee | 2 | $0 |
Jon Landau Vice Chairperson/director | OfficerTrustee | 2 | $0 |
Henry D Mercer III Asst. Treasurer/director | OfficerTrustee | 2 | $0 |
Grey J Dimenna Director | Trustee | 1 | $0 |
Don Friedman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $639,910 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,227,246 |
| Noncash contributions included in lines 1a–1f | $3,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,867,156 |
| Total Program Service Revenue | $230,730 |
| Investment income | $258,746 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $22,406 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $33,692 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,412,730 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,500 |
| 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. | $214,529 |
| Compensation of current officers, directors, key employees. | $76,112 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $440,856 |
| Pension plan accruals and contributions | $8,400 |
| Other employee benefits | $76,730 |
| Payroll taxes | $46,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $800 |
| Fees for services: Accounting | $24,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $43,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $380,180 |
| Advertising and promotion | $0 |
| Office expenses | $104,501 |
| Information technology | $3,413 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $106,936 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $13,940 |
| Total functional expenses | $1,586,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,941,651 |
| Pledges and grants receivable | $1,196,946 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $21,200 |
| Prepaid expenses and deferred charges | $6,355 |
| Net Land, buildings, and equipment | $27,829 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,193,981 |
| Accounts payable and accrued expenses | $2,271 |
| Grants payable | $0 |
| Deferred revenue | $40,000 |
| 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 | $940,017 |
| Total liabilities | $982,288 |
| Net assets without donor restrictions | $10,895,397 |
| Net assets with donor restrictions | $1,316,296 |
| 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 | $13,193,981 |