Liabilities / Assets
76th percentile
Higher debt load relative to assets than 76% of similar nonprofits.
Institute of Musical Traditions Inc
EIN 52-1737962 • 501(c)3 • Silver Spring, MD
Profile
To promote and present folk music
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.06x
Liabilities / Revenue
81st percentile
Higher debt load relative to revenue than 81% of similar nonprofits.
Net Margin
25th percentile
Higher net margin than 25% of similar nonprofits.
Top Officer Pay
86th percentile
Higher top officer pay than 86% of similar nonprofits.
Top officer pay equals 18.5% of source-year revenue.
Asset Growth
40th percentile
Faster asset growth than 40% of similar nonprofits.
Revenue Growth
40th percentile
Faster revenue growth than 40% of similar nonprofits.
Balance Sheet
Assets
Down$103,364
Down $11,200 (-9.8%) from 2023
Liabilities
Up$5,963
Up $4,045 (+211%) from 2023
Net Assets
Down$97,401
Down $15,245 (-14%) from 2023
Revenue
Down$75,856
Down $10,823 (-12%) from 2023
Expenses
Up$89,123
Up $12,318 (+16%) from 2023
Net Income
Down-$13,267
Down $23,141 (-234%) from 2023
Trend Graphs
Filings
Most recent year
2024 • Form 990EZDetailed filing. Detailed filing data is available for this year.
- Assets
- $103,364
- Liabilities
- $5,963
- Net assets
- $97,401
- Revenue
- $75,856
- Expenses
- $89,123
- Net income
- -$13,267
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2024 to Dec 31, 2024
- Signed
- Nov 15, 2025
- Return Version
- 2024v5.0
- Gross Receipts
- $75,856
Mission and Program Overview
Mission
To promote and present folk music.
To promote and present folk music
Program Services
| Description | Grants | Expenses |
|---|---|---|
| In 2024, the Institute of Musical Traditions presented 52 individual artists in 13 concerts, 52 featured artists in our weekly open mics, and uncounted other open mic participants. Attendance at our ticketed concert series was 1590. The open mics are streamed online and available for all to view. | $0 | $89,083 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Loralyn Coles | Assistant Executive Director | PT | $14,000 | - | $14,000 |
| Robert Hinkal | Publicist/Webmaster/Open Mic Host | PT | $9,847 | - | $9,847 |
| David Richardson | President | - | $0 | - | - |
| David Eisner | Vice-President & Executive Director | - | $0 | - | - |
| Arthur Shaw | Treasurer | - | $0 | - | - |
Filing and Contact Details
Filer
- Filer Name
- Institute of Musical Traditions Inc
- EIN
- 52-1737962
- Phone
- 3019603655
- Address
- 10332 Parkman Road, Silver Spring, MD 20903
Signing Officer
- Name
- Loralyn Coles
- Title
- Admin
- Phone
- 3019603655
- Signed
- 2025-11-15
Supplemental Narrative
Additional Explanations
Form 990-EZ, Part I, Line 16
“Advertisements $250, Bank Fees $1831, Co-Sponsor Payment $1307, Depreciation $3937, Donation $40, Food Supplies for Sale $435, Insurance $1050, Meals $2248, Office Supplies $371, 2024 Equipment Value Correction $2005, Professional Fees $44, Refunds $316, Rounding Amount $1, Travel Lodging $140”
Form 990-EZ, Part I, Line 20
“Value of Equipment $3985, Accounts Payable -$5963”
Form 990-EZ, Part II, Line 24
“Value of Equipment $3985”
Form 990-EZ, Part II, Line 26
“Accounts Payable $5963”
Raw XML Appendix243 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990EZ/OtherAssetsTotalDetail/EOYAmt | 0 | 3985 |
| IRS990EZ/OtherChangesInNetAssetsAmt | 0 | -1978 |
| IRS990EZ/OtherExpensesTotalAmt | 0 | 13974 |
| IRS990EZ/OtherRevenueTotalAmt | 0 | 0 |
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| IRS990EZ/PartVIOfCompOfHghstPdEmplTxt | 0 | NONE |
| IRS990EZ/PoliticalCampaignActyInd | 0 | 0 |
| IRS990EZ/PrimaryExemptPurposeTxt | 0 | To promote and present folk music |
| IRS990EZ/PrintingPublicationsPostageAmt | 0 | 179 |
| IRS990EZ/ProgramServiceRevenueAmt | 0 | 41752 |
| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 0 | In 2024, the Institute of Musical Traditions presented 52 individual artists in 13 concerts, 52 featured artists in our weekly open mics, and uncounted other open mic participants. Attendance at our ticketed concert series was 1590. The open mics are streamed online and available for all to view. |
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| IRS990EZ/SaleOfAssetsGrossAmt | 0 | 0 |
| IRS990EZ/ScheduleBNotRequiredInd | 0 | X |
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| IRS990EZ/SpecialEventsNetIncomeLossAmt | 0 | 0 |
| IRS990EZ/StatesWhereCopyOfReturnIsFldCd | 0 | MD |
| IRS990EZ/SubjectToProxyTaxInd | 0 | 0 |
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| IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt | 0 | 5963 |
| IRS990EZ/TanningServicesProvidedInd | 0 | 0 |
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| IRS990EZ/TotalRevenueAmt | 0 | 75856 |
| IRS990EZ/TransactionWithControlEntInd | 0 | 0 |
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| IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt | 0 | 441598 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Advertisements $250, Bank Fees $1831, Co-Sponsor Payment $1307, Depreciation $3937, Donation $40, Food Supplies for Sale $435, Insurance $1050, Meals $2248, Office Supplies $371, 2024 Equipment Value Correction $2005, Professional Fees $44, Refunds $316, Rounding Amount $1, Travel Lodging $140 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Value of Equipment $3985, Accounts Payable -$5963 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Value of Equipment $3985 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | Accounts Payable $5963 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990-EZ, Part I, Line 16 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990-EZ, Part I, Line 20 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990-EZ, Part II, Line 24 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990-EZ, Part II, Line 26 |
| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Loralyn Coles |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | Admin |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 3019603655 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2025-11-15 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | INSTITUTE OF MUSICAL TRADITIONS INC |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | INST |
| ReturnHeader/Filer/EIN | 0 | 521737962 |
| ReturnHeader/Filer/PhoneNum | 0 | 3019603655 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 10332 Parkman Road |
| ReturnHeader/Filer/USAddress/CityNm | 0 | Silver Spring |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | MD |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 20903 |
| ReturnHeader/IRSResponsiblePrtyInfoCurrInd | 0 | 1 |
| ReturnHeader/ReturnTs | 0 | 2025-11-16T08:10:39-07:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990EZ |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2024-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2024-12-31 |
| ReturnHeader/TaxYr | 0 | 2024 |
Document Assets
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