International Bluegrass Music Museum Inc

Analysis

International Bluegrass Music Museum Inc is a registered charity in United States, based in Owensboro, KY. It received its IRS tax-exemption ruling in March 1994, 32 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 December 2023, International Bluegrass Music Museum Inc reported income of $3.2m and spending of $3.3m, spending 103% of its income. Across the 6 years on record, from June 2019 to December 2023, income grew from $1.6m to $3.2m (+101%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 703%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, International Bluegrass Music Museum Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within KY. Charities of a similar size with the same main cause include Santa Fe Chamber Music Festival Ltd ($3.2m), American Association for Anatomy ($3.2m) and Bloomingdale School of Music Inc ($3.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 62% of the total. Other salaries and wages came to $671k. At year end it held assets of $9.6m against liabilities of $445k, net assets of $9.2m. It reported 21 employees.