Bruce Springsteen Archives and Center for American Music Corporation

Nonprofit profile at a glance

EIN
825325604
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
West Long Branch, NJ, USA
Phone
7325713407
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$4,609,399
Expenses
$2,547,858
Assets
$15,824,457
Liabilities
$1,559,748

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • PATRICK F LEAHY - CHAIRPERSON (DIRECTOR-BSACAM; PRESIDENT-MU)
  • ROBERT SANTELLI (EXECUTIVE DIRECTOR)

Highest reported compensation

  • PATRICK F LEAHY - CHAIRPERSON (DIRECTOR-BSACAM; PRESIDENT-MU): $1,155,625 total reported compensation
  • CHARLENE K DIANA (SECRETARY-BSACAM; VP/GEN. COUNSEL-MU): $359,779 total reported compensation
  • ROBERT SANTELLI (EXECUTIVE DIRECTOR): $287,324 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule othe bruce springsteen archives and center for american music corporation (the "center") was organized on november 27, 2017, and shall be operated exclusively for charitable and educational purposes to support the activities of monmouth university (the "university"), an educational institution that is tax exempt under section 501(c)(3) of the internal revenue code of 1986. The center shall be responsible for archiving to preserve and promote the legacy of bruce springsteen and his role in the history of american music as well as other figures relating to american music the affiliate may hereafter acquire or gain access to. The center will seek to create academic, performance and exhibit spaces, enabling the center to become a major international scholarly resource for academic researchers and music historians.

What it reported doing in 2024

Educationthe center will create a musical arts center on behalf of monmouth university which will house an expansive archive to preserve and promote the legacy of bruce springsteen and his role in the history of american music. During 2025, the university began the construction of the facility that will house the operations of the center. This project is reflected in construction in progress on the university's financial statements and is expected to be completed in spring 2026. (continued on schedule o)the center will house both the university's and bruce springsteen's collections, creating an open and inviting exhibition space to permanently showcase such collections as well as other collections relating to american music, and creating academic, performance and exhibit space enabling the springsteen center to become a major international scholarly resource for academic researchers and music historians. The center conducted program activities including traveling exhibits and educational symposiums during the fye 6/30/25.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 54% for direct work, and 46% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 83
  • Accountability: 91
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 35.9%; rating input score 36
  • Program expense ratio: 58.2%; rating input score 58
  • Fundraising efficiency: $6.01 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.3%; rating input score 93; 24th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 44.7%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 6.21; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 34.8%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 50.4% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 15.4% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 31.3% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 35.9% of revenue deployed · 58.2% of spending went to programs
  • Governance: 14 of 15 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $1.2M · 19 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 36/100.
  • Review — Financial Efficiency: Program expense ratio scored 58/100.
  • High — Financial Efficiency: Fundraising efficiency scored 22/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.