Society for the Preservation of Bluegrass Music of America

Analysis

Society for the Preservation of Bluegrass Music of America is a registered charity in United States, based in Kirksville, MO. It received its IRS tax-exemption ruling in June 1976, 50 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Society for the Preservation of Bluegrass Music of America reported income of $392k and spending of $321k, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $324k to $392k (+21%), an average of +4.8% a year. The sharpest change came in the year to December 2023, when income rose by 82%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Society for the Preservation of Bluegrass Music of America sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within MO. Charities of a similar size with the same main cause include Greensboro Opera Company ($392k), Cascadianow ($392k) and Pocket Opera Inc ($392k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.9% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $52k (16% of expenses). At year end it held assets of $265k against liabilities of $1,793, net assets of $263k. It reported 2 employees.