Bruce Springsteen Archives and Center for American Music Corporat

Analysis

Bruce Springsteen Archives and Center for American Music Corporat is a registered charity in United States, based in W Long Branch, NJ. It received its IRS tax-exemption ruling in October 2018, 8 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Bruce Springsteen Archives and Center for American Music Corporat reported income of $2.4m and spending of $1.6m, leaving 34% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.0m to $2.4m (+139%), an average of +24% a year. The sharpest change came in the year to June 2021, when income rose by 401%. Over the whole period it spent 22% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bruce Springsteen Archives and Center for American Music Corporat sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within NJ. Charities of a similar size with the same main cause include Peoria Riverfront Museum Foundation ($2.4m), Friends of the Corpus Christi Museum of Science and History ($2.4m) and Miami Broward One Carnival Host Committee Inc ($2.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 77% and program service revenue 9.6% of the total. Compensation of current officers, directors and key employees was $215k (14% of expenses). Other salaries and wages came to $441k. It paid $43k in professional fundraising fees. At year end it held assets of $13.2m against liabilities of $982k, net assets of $12.2m. It reported 17 employees.