Rock & Roll Hall of Fame Foundation Inc

Analysis

Rock & Roll Hall of Fame Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 1986, 40 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Rock & Roll Hall of Fame Foundation Inc reported income of $13.0m and spending of $10.3m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $13.0m (+440%), an average of +52% a year. The sharpest change came in the year to June 2021, when income rose by 639%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Rock & Roll Hall of Fame Foundation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Joshua M Freeman Foundation ($13.0m), School of American Ballet Inc ($13.0m) and Isothermal Planning and Development Corporation ($13.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.5% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $538k (5.2% of expenses). Other salaries and wages came to $13k. At year end it held assets of $16.4m against liabilities of $16k, net assets of $16.4m. It reported 3 employees.