Civic Intelligence

The Blues Foundation Inc

990 • Fiscal year 2017 • EIN 62-1083757

Oct 01, 2016 to Sep 30, 2017 • Filed on Mar 26, 2018

421 South MainMemphis, TN 38103

(901) 527-2583

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

21st percentile

0.00x

Higher debt load relative to assets than 21% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

22nd percentile

0.01x

Higher debt load relative to revenue than 22% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

70th percentile

13%

Higher net margin than 70% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

65th percentile

$91,250

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

55th percentile

4.8%

Faster asset growth than 55% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

72nd percentile

19%

Faster revenue growth than 72% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$4,055,113

Up $185,069 (+4.8%) from 2016

Net Assets

Up

$4,040,876

Up $182,402 (+4.7%) from 2016

Liabilities

Up

$14,237

Up $2,667 (+23%) from 2016

Revenue

Up

$1,407,331

Up $224,853 (+19%) from 2016

Expenses

Up

$1,224,929

Up $17,590 (+1.5%) from 2016

Net Income

Up

$182,402

Up $207,263 (+834%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $1,177,135Liabilities 2011: $320,893Net Assets 2011: $856,2422011Assets 2012: $2,025,102Liabilities 2012: $202,030Net Assets 2012: $1,823,0722012Assets 2013: $3,073,412Liabilities 2013: $194,125Net Assets 2013: $2,879,2872013Assets 2014: $4,293,504Liabilities 2014: $340,097Net Assets 2014: $3,953,4072014Assets 2015: $3,995,052Liabilities 2015: $111,717Net Assets 2015: $3,883,3352015Assets 2016: $3,870,044Liabilities 2016: $11,570Net Assets 2016: $3,858,4742016Assets 2017: $4,055,113Liabilities 2017: $14,237Net Assets 2017: $4,040,8762017Assets 2018: $4,068,163Liabilities 2018: $25,528Net Assets 2018: $4,042,6352018Assets 2019: $4,240,107Liabilities 2019: $60,195Net Assets 2019: $4,179,9122019Assets 2020: $4,369,952Liabilities 2020: $51,878Net Assets 2020: $4,318,0742020Assets 2021: $4,533,935Liabilities 2021: $61,364Net Assets 2021: $4,472,5712021Assets 2022: $4,373,317Liabilities 2022: $139,722Net Assets 2022: $4,233,5952022Assets 2023: $3,697,234Liabilities 2023: $37,455Net Assets 2023: $3,659,7792023Assets 2024: $2,515,456Liabilities 2024: -$87,621Net Assets 2024: $2,603,0772024

Highlighted filing

2017

Assets$4,055,113
Liabilities$14,237
Net Assets$4,040,876

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $853,4152011Expenses 2012: $849,1382012Revenue 2013: $1,907,641Expenses 2013: $882,852Net Income 2013: $1,024,7892013Revenue 2014: $1,986,208Expenses 2014: $918,090Net Income 2014: $1,068,1182014Revenue 2015: $1,205,347Expenses 2015: $1,275,419Net Income 2015: -$70,0722015Revenue 2016: $1,182,478Expenses 2016: $1,207,339Net Income 2016: -$24,8612016Revenue 2017: $1,407,331Expenses 2017: $1,224,929Net Income 2017: $182,4022017Revenue 2018: $1,318,122Expenses 2018: $1,312,867Net Income 2018: $5,2552018Revenue 2019: $1,533,912Expenses 2019: $1,397,173Net Income 2019: $136,7392019Revenue 2020: $1,436,713Expenses 2020: $1,319,323Net Income 2020: $117,3902020Revenue 2021: $1,249,645Expenses 2021: $1,107,815Net Income 2021: $141,8302021Revenue 2022: $1,236,532Expenses 2022: $1,481,444Net Income 2022: -$244,9122022Revenue 2023: $1,211,621Expenses 2023: $1,473,782Net Income 2023: -$262,1612023Revenue 2024: $2,096,669Expenses 2024: $1,808,975Net Income 2024: $287,6942024

Highlighted filing

2017

Revenue$1,407,331
Expenses$1,224,929
Net Income$182,402
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Mar 26, 2018
Return Version
2016v3.1
Gross Receipts
$1,442,092
Mission and Program Overview

Mission

To preserve blues heritage, celebrate blues recording and performance, expand worldwide awareness of the blues, and ensure the future of this uniquely american art form.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,562,352$2,461,744▼ $100,608
Savings and Temporary Cash Investments$276,812$430,477▲ $153,665
Cash and Non-Interest-Bearing Accounts$36,339$335,963▲ $299,624
Investments in Publicly Traded Securities$102,780--
Intangible Assets-$98,285-
Accounts Receivable$6,975$25,765▲ $18,790
Pledges and Grants Receivable$25,000$25,600▲ $600
Inventories for Sale or Use$36,533$16,947▼ $19,586
Prepaid Expenses and Deferred Charges$13,014$10,653▼ $2,361
Total Assets$3,870,044$4,055,113▲ $185,069
Other Assets Total$810,239$649,679▼ $160,560
Liabilities
Accounts Payable and Accrued Expenses$10,046$10,117▲ $71
Other Liabilities$1,524$4,120▲ $2,596
Total Liabilities$11,570$14,237▲ $2,667
Net Assets / Fund Balance
Unrestricted Net Assets$3,110,964$3,444,131▲ $333,167
Temporarily Rstr Net Assets$747,510$596,745▼ $150,765
Total Net Assets Fund Balance$3,858,474$4,040,876▲ $182,402
Total Liabilities and Net Assets / Fund Balance$3,870,044$4,055,113▲ $185,069

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$2,200,095$157,336$2,357,431
Other Land Buildings$226,630$39,433$266,063
Equipment$35,019$41,721$76,740
Other Assets Org$259,753--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Barbara NewmanPresident &FT$91,250$91,250

Board Members and Trustees

NameTitle
Jeff SyracuseBoard Chair
Michael FreemanVice Chair
Alan MaitesDirector
Cheryl PawelskiDirector
Dexter AllenDirector
Gary ParadisDirector
Jackie ScottDirector
Janice JohnstonDirector
Jerry MasonDirector
John DeckDirector
Jostein ForsbergDirector
Kathy BolmerDirector
Kim HortonDirector
Mark ThompsonDirector
Paul NelsonDirector
Rich DelgrossoDirector
Scott FitzkeDirector
Sherry MayDirector
Terry DuffieDirector
Tripp HopkinsDirector
Velma AllenDirector
Paul BenjaminImmediate Pa
Tom DavisTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$382,527
Program Service Revenue
$872,874
Investment Income
$-1,213
Other Revenue
$153,143
All Other Contributions
$356,927
Change in Net Assets
$182,402

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Collectibles1$11,870
Other Non Cash Contri Table1$10,436
Intellectual Property4$10,000
Total Noncash Contributions6$32,306

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,407,331
Revenue Not Reported on Form 990
$84,012
Total Revenue per Audited Statements
$1,491,343
Total Revenue per Form 990
$1,407,331
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$771,476
Salaries, Compensation, and Employee Benefits$353,199
Grants and Similar Amounts Paid$100,254
Total Fundraising Expense$5,871
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$206,511-$206,511
All Other Expenses$70,051$106,877$4,714$181,642
Grants to Domestic Individuals$98,061--$98,061
Current Officers, Directors, Trustees, and Key Employees$63,833$31,917-$95,750
Depreciation Depletion$53,575$35,706-$89,281
Advertising$28,948$28,917-$57,865
Other Expenses$42,854$6,686$1,157$50,697
Office Expenses$24,269$26,064-$50,333
Other Employee Benefits-$25,095-$25,095
Payroll Taxes$2,573$20,814-$23,387
Insurance-$14,465-$14,465
Travel$2,823$10,811-$13,634
Fees for Services Accounting-$11,780-$11,780
Occupancy-$9,172-$9,172
Information Technology$170$8,710-$8,880
Pension Plan Contributions-$2,456-$2,456
Grants to Domestic Orgs$2,193--$2,193
Fees for Services Other-$250-$250
Interest$-38$266-$228
Total Functional Expenses$666,465$552,593$5,871$1,224,929

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,308,941
Expenses per Audited Statements$1,224,929
Total Expenses per Form 990$1,224,929
Expenses Not Reported on Form 990$84,012
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
Payroll Taxes Withheld and Payable$3,965
Accrued Other Taxes$155
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The 990 is prepared after extensive conversation between elizabeth montgomery brown, paul benjamin, barbara newman, glenda mace and whitehorn tankersley & davis. The form is then reviewed by the executive director, the treasurer, and the finance committee prior to it being filed.

Form 990, Page 6, Part VI, Line 12C

The organization evaluates any new business to determine if any conflicts exist with prior or current board memebers, thier families, or businesses.

Form 990, Page 6, Part VI, Line 15A

The executive committee and the board approves all compensation, including that of the executive director. Compensation is included in the budget which is approved by the board of directors at board meetings.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents and financial statements available to the public through the organization's own website and guidestar.

Filing and Contact Details

Filer

Filer Name
The Blues Foundation Inc
EIN
62-1083757
Phone
9015272583
Address
421 SOUTH MAIN, MEMPHIS, TN 38103

Signing Officer

Name
Barbara Newman
Title
President & CEO
Phone
9015272583
Signed
2018-03-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barbara Newman
Formed
1980
Legal Domicile
Tn
Voting Board Members
22
Independent Board Members
22
Employees
14
Volunteers
250

Preparer

Firm
Whitehorn Tankersley & Davis Pllc
Address
670 OAKLEAF OFFICE LANE, MEMPHIS, TN 38117-4811
Preparer
Lee E Hood
Phone
9017675080
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

Congressional blues festival and miscellaneous other

Form 990, Part IX, Line 24E

Dues and subscriptions 0 30,410 0 taxes and licenses 109 29,670 0 exhibit expense 26,919 131 1,409 bank charges 8 24,346 2,270 graphic design expense 14,632 1,393 0 repairs and maintenance 2,928 11,457 1,035 awards 12,583 0 0 advertising sales commiss 12,332 0 0 miscellaneous 90 4,932 0 fees, dues, permits 450 2,662 0 workers compensation 0 1,471 0 alarm 0 405 0 total 70,051 106,877 4,714

Form 990, Part XI, Line 9

Expenses included on part viii line 10b 31,338 expenses included on part viii line 10b -31,338

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation operates under the provisions of fasb asc 740-10, accounting for uncertainty in income taxes, which requires that computations of any tax assets or liabilities consider tax positions that are more likely than not (defined as greater than 50% chance) to be sustained if the taxing authority examined the positions. The foundation is subject to tax examinations by taxing authorities for years ending after september 30, 2013.

Schedule D, Page 4, Part XI, Line 2D

Expenses included on part viii line 10b 31,338

Schedule D, Page 4, Part XII, Line 2D

Expenses included on part viii line 10b 31,338

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IRS990/Form990PartVIISectionAGrp/TitleTxt0IMMEDIATE PA
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23PRESIDENT &
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IRS990/FormationYr01980
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IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
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IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt022
IRS990/GovernmentGrantsAmt025600
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt098061
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IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt02193
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IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt01442092
IRS990/GrossSalesOfInventoryAmt0111710
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IRS990/IncludeFIN48FootnoteInd0true
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IRS990/InformationTechnologyGrp/ProgramServicesAmt0170
IRS990/InformationTechnologyGrp/TotalAmt08880
IRS990/InsuranceGrp/ManagementAndGeneralAmt014465
IRS990/InsuranceGrp/TotalAmt014465
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IRS990/InterestGrp/ManagementAndGeneralAmt0266
IRS990/InterestGrp/ProgramServicesAmt0-38
IRS990/InterestGrp/TotalAmt0228
IRS990/InventoriesForSaleOrUseGrp/BOYAmt036533
IRS990/InventoriesForSaleOrUseGrp/EOYAmt016947
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IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt02461744
IRS990/LandBldgEquipCostOrOtherBssAmt02700234
IRS990/LegalDomicileStateCd0TN
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt03423
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PRESERVE BLUES HERITAGE, CELEBRATE BLUES RECORDING AND PERFORMANCE, EXPAND WORLDWIDE AWARENESS OF THE BLUES, AND ENSURE THE FUTURE OF THIS UNIQUELY AMERICAN ART FORM.
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IRS990/NetAssetsOrFundBalancesEOYAmt04040876
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IRS990/OtherExpensesGrp/Desc0RENT
IRS990/OtherExpensesGrp/Desc1CATERING AND BANQUETS
IRS990/OtherExpensesGrp/Desc2PRODUCTION
IRS990/OtherExpensesGrp/Desc3EVENT EXPENSE
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06042
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt154
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt26686
IRS990/OtherExpensesGrp/ProgramServicesAmt0132598
IRS990/OtherExpensesGrp/ProgramServicesAmt192850
IRS990/OtherExpensesGrp/ProgramServicesAmt251705
IRS990/OtherExpensesGrp/ProgramServicesAmt342854
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IRS990/OtherExpensesGrp/TotalAmt192904
IRS990/OtherExpensesGrp/TotalAmt251705
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IRS990/OtherRevenueMiscGrp/Desc0HOTEL COMMISSIONS
IRS990/OtherRevenueMiscGrp/Desc1OTHER
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IRS990/PensionPlanContributionsGrp/TotalAmt02456
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt010653
IRS990/PrincipalOfficerNm0BARBARA NEWMAN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0541800
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIPS
IRS990/ProgramServiceRevenueGrp/Desc1INTERNATIONAL BLUES COMPETITI
IRS990/ProgramServiceRevenueGrp/Desc2BLUES MUSIC AWARDS
IRS990/ProgramServiceRevenueGrp/Desc3SPONSORSHIPS
IRS990/ProgramServiceRevenueGrp/Desc4PROGRAM AND WEB ADVERTISING
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1200718
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2134240
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt390500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0273459
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1200718
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2134240
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt390500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt487085
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt087085
IRS990/ProgSrvcAccomActy2Grp/Desc0THE INTERNATIONAL BLUES CHALLENGE HAS EVOLVED INTO THE WORLD'S BIGGEST AND MOST RESPECTED SHOWCASE FOR BLUES MUSICIANS READY TO TAKE THEIR ACT TO THE NEXT LEVEL. THE IBC IS A JUDGED "BATTLE OF THE BANDS" IN WHICH COMPETITORS TAKE THE STAGE AND PLAY A SHORT SET FOR A PANEL OF JUDGES. THE ACTS ARE JUDGED BASED ON AN ESTABLISHED SET OF CRITERIA. THE FOUR-DAY EVENT ALSO FEATURES PANELS EXPLORING AREAS OF INTEREST TO THE BLUES GENRE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0140112
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0364695

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.52$0.09$2.60$2.10$1.81$0.29
2023Detailed filing. Detailed filing data is available for this year.$3.70$0.04$3.66$1.21$1.47$0.26
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.37$0.14$4.23$1.24$1.48$0.24
2021Detailed filing. Detailed filing data is available for this year.$4.53$0.06$4.47$1.25$1.11$0.14
2020Detailed filing. Detailed filing data is available for this year.$4.37$0.05$4.32$1.44$1.32$0.12
2019Detailed filing. Detailed filing data is available for this year.$4.24$0.06$4.18$1.53$1.40$0.14
2018Detailed filing. Detailed filing data is available for this year.$4.07$0.03$4.04$1.32$1.31$0.01
2017Detailed filing. Detailed filing data is available for this year.$4.06$0.01$4.04$1.41$1.22$0.18
2016Detailed filing. Detailed filing data is available for this year.$3.87$0.01$3.86$1.18$1.21$0.02
2015Detailed filing. Detailed filing data is available for this year.$4.00$0.11$3.88$1.21$1.28$0.07
2014Detailed filing. Detailed filing data is available for this year.$4.29$0.34$3.95$1.99$0.92$1.07
2013Summary only. Only limited summary data is available for this year.$3.07$0.19$2.88$1.91$0.88$1.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.03$0.20$1.82$0.85
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$0.32$0.86$0.85