Blues Foundation Inc

Analysis

Blues Foundation Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in September 1980, 46 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 September 2023, Blues Foundation Inc reported income of $1.2m and spending of $1.5m, spending 122% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.5m to $1.2m (-21%), an average of -5.7% a year. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Blues Foundation Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 83rd percentile within TN. Charities of a similar size with the same main cause include Opening Act Inc ($1.2m), South Carolina National Heritage Corridor ($1.2m) and Belle Grove Inc ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 54% and program service revenue 36% of the total. Other salaries and wages came to $431k. At year end it held assets of $3.7m against liabilities of $37k, net assets of $3.7m. It reported 2 employees.