International Bluegrass Music Association Inc

Nonprofit profile at a glance

EIN
383764317
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-N 2017
Location
Nashville, TN, USA
Phone
6152563222
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Official website

Reported finances

Revenue
$1,343,031
Expenses
$1,811,805
Assets
$1,043,382
Liabilities
$1,174,023

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

Leadership & pay

20 people listed

Executive titles in this filing

  • ANNA FRICK (CHAIR/PRESIDENT)
  • KEN WHITE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KEN WHITE (EXECUTIVE DIRECTOR): $107,888 total reported compensation

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

Overview

Mission

Working together for high standards of professionalism, a greater appreciation for our music and the success of the worldwide bluegrass community.

What it reported doing in 2024

Trade show - program provides an opportunity for those in the industry to meet & discuss issues affecting the industry. It also is an opportunity for emerging musicians to make contact with others within the industry, thereby promoting bluegrass.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 17
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.4%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -34.9%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.58; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 1.13; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 6%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 6.6% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: -0.9% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.4% of spending went to programs
  • Governance: 19 of 19 board members independent · 8 of 8 filing controls reported
  • Programs: 6 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $108K · 20 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.