Country Music Foundation Inc

Analysis

Country Music Foundation Inc is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in December 1964, 62 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, Country Music Foundation Inc reported income of $57.1m and spending of $43.1m, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $43.5m to $57.1m (+31%), an average of +7.0% a year. The sharpest change came in the year to December 2021, when income rose by 198%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Country Music Foundation Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TN. Charities of a similar size with the same main cause include Oregon Public Broadcasting ($56.8m), Twin Cities Public Television Inc ($57.8m) and The Colorado Museum of Natural History ($55.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.9% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $1.7m (3.9% of expenses). Other salaries and wages came to $16.5m. At year end it held assets of $152.0m against liabilities of $23.7m, net assets of $128.4m. It reported 474 employees.