Civic Intelligence

International Bluegrass Music Museu

EIN 61-1229037 • 501(c)3 • Owensboro, KY

Profile

To provide museum tours to the general public which allows visitors to view bluegrass memorabilia, to educate the public on the history of bluegrass music, to provide music programs to educate and entertain, to build new audiences for bluegrass music, to enhance the image of bluegrass music and spur its growth.

311 West 2nd StOwensboro, KY 42301

www.bluegrasshall.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

30th percentile

0.03x

Higher debt load relative to assets than 30% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

35th percentile

0.08x

Higher debt load relative to revenue than 35% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

22nd percentile

-7.7%

Higher net margin than 22% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

21st percentile

-3.7%

Faster asset growth than 21% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

51st percentile

7.5%

Faster revenue growth than 51% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$9,246,137

Down $350,670 (-3.7%) from 2023

Liabilities

Down

$279,055

Down $165,942 (-37%) from 2023

Net Assets

Down

$8,967,082

Down $184,728 (-2.0%) from 2023

Revenue

Up

$3,463,092

Up $240,132 (+7.5%) from 2023

Expenses

Up

$3,731,392

Up $425,221 (+13%) from 2023

Net Income

Down

-$268,300

Down $185,089 (-222%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2010: $2,367,797Liabilities 2010: $75,826Net Assets 2010: $2,291,9712010Assets 2011: $2,283,182Liabilities 2011: $69,001Net Assets 2011: $2,214,1812011Assets 2012: $2,164,637Liabilities 2012: $149,432Net Assets 2012: $2,015,2052012Assets 2013: $3,556,245Liabilities 2013: $170,127Net Assets 2013: $3,386,1182013Assets 2014: $5,833,325Liabilities 2014: $160,809Net Assets 2014: $5,672,5162014Assets 2015: $6,325,345Liabilities 2015: $154,776Net Assets 2015: $6,170,5692015Assets 2016: $3,759,678Liabilities 2016: $2,034,472Net Assets 2016: $1,725,2062016Assets 2017: $3,356,695Liabilities 2017: $1,637,252Net Assets 2017: $1,719,4432017Assets 2018: $3,892,343Liabilities 2018: $1,619,368Net Assets 2018: $2,272,9752018Assets 2019: $3,106,416Liabilities 2019: $1,267,052Net Assets 2019: $1,839,3642019Assets 2020: $2,676,462Liabilities 2020: $1,141,597Net Assets 2020: $1,534,8652020Assets 2021: $2,977,508Liabilities 2021: $767,220Net Assets 2021: $2,210,2882021Assets 2022: $3,010,692Liabilities 2022: $697,439Net Assets 2022: $2,313,2532022Assets 2023: $9,596,807Liabilities 2023: $444,997Net Assets 2023: $9,151,8102023Assets 2024: $9,246,137Liabilities 2024: $279,055Net Assets 2024: $8,967,0822024

Highlighted filing

2024

Assets$9,246,137
Liabilities$279,055
Net Assets$8,967,082

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $640,1502010Revenue 2011: $758,782Expenses 2011: $836,572Net Income 2011: -$77,7902011Revenue 2012: $919,715Expenses 2012: $1,000,542Net Income 2012: -$80,8272012Revenue 2013: $2,447,227Expenses 2013: $1,076,314Net Income 2013: $1,370,9132013Revenue 2014: $3,279,575Expenses 2014: $993,177Net Income 2014: $2,286,3982014Revenue 2015: $1,675,555Expenses 2015: $1,177,502Net Income 2015: $498,0532015Revenue 2016: $1,239,832Expenses 2016: $5,629,430Net Income 2016: -$4,389,5982016Revenue 2017: $1,534,326Expenses 2017: $1,328,108Net Income 2017: $206,2182017Revenue 2018: $1,936,189Expenses 2018: $1,382,657Net Income 2018: $553,5322018Revenue 2019: $1,605,712Expenses 2019: $2,039,324Net Income 2019: -$433,6122019Revenue 2020: $288,014Expenses 2020: $339,628Net Income 2020: -$51,6142020Revenue 2021: $2,312,772Expenses 2021: $1,838,971Net Income 2021: $473,8012021Revenue 2022: $3,031,121Expenses 2022: $3,306,122Net Income 2022: -$275,0012022Revenue 2023: $3,222,960Expenses 2023: $3,306,171Net Income 2023: -$83,2112023Revenue 2024: $3,463,092Expenses 2024: $3,731,392Net Income 2024: -$268,3002024

Highlighted filing

2024

Revenue$3,463,092
Expenses$3,731,392
Net Income-$268,300

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.25$0.28$8.97$3.46$3.73$0.27
2023Detailed filing. Detailed filing data is available for this year.$9.60$0.44$9.15$3.22$3.31$0.08
2022Detailed filing. Detailed filing data is available for this year.$3.01$0.70$2.31$3.03$3.31$0.28
2021Detailed filing. Detailed filing data is available for this year.$2.98$0.77$2.21$2.31$1.84$0.47
2020Detailed filing. Detailed filing data is available for this year.$2.68$1.14$1.53$0.29$0.34$0.05
2019Detailed filing. Detailed filing data is available for this year.$3.11$1.27$1.84$1.61$2.04$0.43
2018Detailed filing. Detailed filing data is available for this year.$3.89$1.62$2.27$1.94$1.38$0.55
2017Detailed filing. Detailed filing data is available for this year.$3.36$1.64$1.72$1.53$1.33$0.21
2016Detailed filing. Detailed filing data is available for this year.$3.76$2.03$1.73$1.24$5.63$4.39
2015Detailed filing. Detailed filing data is available for this year.$6.33$0.15$6.17$1.68$1.18$0.50
2014Detailed filing. Detailed filing data is available for this year.$5.83$0.16$5.67$3.28$0.99$2.29
2013Summary only. Only limited summary data is available for this year.$3.56$0.17$3.39$2.45$1.08$1.37
2012Summary only. Only limited summary data is available for this year.$2.16$0.15$2.02$0.92$1.00$0.08
2011Summary only. Only limited summary data is available for this year.$2.28$0.07$2.21$0.76$0.84$0.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.37$0.08$2.29$0.64
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 19, 2025
Return Version
2024v5.1
Gross Receipts
$3,463,092
Mission and Program Overview

Mission

To provide museuem tours to the general public which allows visitors to view bluegrass memorabilia, to educate the public on the history of bluegrass music, to provide music programs to educate and entertain, to build new audiences for bluegrass music, to enhance the image of bluegrass music and spur its growth.

To provide museum tours to the general public which allows visitors to view Bluegrass memorbilia; To educate the public on the history of Bluegrass music; to provide music programs to educate and entertain; to build new audiences for Bluegrass music; and to enhance the image of Bluegrass music and spur its growth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$6,357,239$5,852,452▼ $504,787
Cash and Non-Interest-Bearing Accounts$1,048,563$1,094,866▲ $46,303
Land, Buildings, and Equipment, Net$936,928$896,727▼ $40,201
Investments Program Related$757,158$845,614▲ $88,456
Intangible Assets$417,586$417,586→ $0
Inventories for Sale or Use$52,358$95,892▲ $43,534
Accounts Receivable$26,974$43,000▲ $16,026
Total Assets$9,596,806$9,246,137▼ $350,669
Liabilities
Deferred Revenue$137,235$213,551▲ $76,316
Accounts Payable and Accrued Expenses$306,048$63,897▼ $242,151
Other Liabilities$1,713$1,607▼ $106
Total Liabilities$444,996$279,055▼ $165,941
Net Assets / Fund Balance
Net Assets With Donor Restrictions$7,114,397$7,198,066▲ $83,669
Net Assets Without Donor Restrictions$2,037,413$1,769,016▼ $268,397
Total Net Assets Fund Balance$9,151,810$8,967,082▼ $184,728
Total Liabilities and Net Assets / Fund Balance$9,596,806$9,246,137▼ $350,669

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$722,211$593,081$1,315,292
Buildings$174,516$34,368$208,884
Investment Program Related Org$845,614--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kyle CantrellChair
Phil ClarkFormer Chair / Asst Treasurer
Candy EnglebertVice Chair
Ben ClarkTrustee
Buzz BackstromTrustee
Dudley ConnellTrustee
Emily WoosleyTrustee
Jana MouginTrustee
Jen LarsonTrustee
Jon LawsonTrustee
Ken WhiteTrustee
Ronnie RenoTrustee
Tom WatsonTrustee
Ross LeazenbyTrustee Emeritus
Kathryn RaymerSecretary
Terry WoodwardTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$954,733
Program Service Revenue
$1,179,573
Investment Income
$36,904
Other Revenue
$1,291,882
All Other Contributions
$278,069
Change in Net Assets
$-268,300
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,017,381
Salaries, Compensation, and Employee Benefits$714,011
Total Fundraising Expense$23,236
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$745,585$72,316-$817,901
Other Salaries and Wages$561,853$99,151-$661,004
Other Expenses$253,048-$23,236$276,284
Fees for Services Other-$139,487-$139,487
Advertising$129,337--$129,337
Depreciation Depletion$103,019--$103,019
Travel$99,214--$99,214
Office Expenses$58,637$19,546-$78,183
Payroll Taxes$39,755$13,252-$53,007
Insurance$51,042--$51,042
Interest$1,264--$1,264
Total Functional Expenses$3,364,404$343,752$23,236$3,731,392
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$1,607
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

No review was or will be conducted.

Form 990, Part VI, Section C, line 19

It is the Organization's policy to make its governing documents, conflict of interest policy, and financial statements available only upon request.

Filing and Contact Details

Filer

Filer Name
International Bluegrass Music Museum
EIN
61-1229037
Phone
2709267891
Address
311 WEST 2ND ST, OWENSBORO, KY 42301
Doing Business As
Bluegrass Music Hall of Fame & Museum

Signing Officer

Name
Adam Engelhardt
Title
Executive Director
Phone
2709267891
Signed
2025-05-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Adam Engelhardt
Formed
1990
Legal Domicile
Ky
Voting Board Members
16
Independent Board Members
16
Employees
22
Volunteers
0

Preparer

Firm
ATA Advisory LLC
Address
300 Southtown Blvd Ste 3, Owensboro, KY 42303
Preparer
Kristopher Kemp
Phone
2706918981
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 24E

Production and Related: Program service expenses 255,402. Management and general expenses 0. Fundraising expenses 0. Total expenses 255,402. Repairs and Maintenance: Program service expenses 96,276. Management and general expenses 0. Fundraising expenses 0. Total expenses 96,276. Contract Labor: Program service expenses 89,977. Management and general expenses 0. Fundraising expenses 0. Total expenses 89,977. Marketing: Program service expenses 72,303. Management and general expenses 0. Fundraising expenses 0. Total expenses 72,303. Exhibit Supplies: Program service expenses 68,262. Management and general expenses 0. Fundraising expenses 0. Total expenses 68,262. Merchandise: Program service expenses 66,586. Management and general expenses 0. Fundraising expenses 0. Total expenses 66,586. Bank Charges: Program service expenses 0. Management and general expenses 64,689. Fundraising expenses 0. Total expenses 64,689. Utilities: Program service expenses 41,531. Management and general expenses 3,126. Fundraising expenses 0. Total expenses 44,657. Tax and Licenses: Program service expenses 26,185. Management and general expenses 885. Fundraising expenses 0. Total expenses 27,070. Computer & Website: Program service expenses 23,254. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,254. Postage: Program service expenses 5,809. Management and general expenses 1,936. Fundraising expenses 0. Total expenses 7,745. Provision for Uncollectible Promises to Give: Program service expenses 0. Management and general expenses 1,680. Fundraising expenses 0. Total expenses 1,680.

Financial Statement Notes

Part III, Line 4:

Exhibits are displayed throughout various areas of the museum to further the Organization's mission of educating the public on the history of bluegrass music.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0Former Chair / Asst Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt1Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee Emeritus
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
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IRS990ScheduleD/SolicitedAssetsSaleInd00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Exhibits are displayed throughout various areas of the museum to further the Organization's mission of educating the public on the history of bluegrass music.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III, Line 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0896727
IRS990ScheduleD/TotalBookValueProgramRltdAmt0845614

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