Overview
What is The Ibma Foundation Inc?
The Ibma Foundation Inc, based in Burlington, North Carolina, is a dedicated nonprofit organization. With a mission to build a brighter future for bluegrass music, the foundation awards project grants and scholarships to promote this genre and support various bluegrass education projects. By doing so, they help donors create a lasting legacy through their support of programs and projects focused on bluegrass music-related arts, culture, education, literary work, and historic preservation. The organization operates within the realm of bluegrass music, aiming to foster its growth and development through their initiatives.
Official website here: www.bluegrassfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91%, Four-Star out of Four Star rating.
The Ibma Foundation Inc has achieved a remarkable Four-Star rating from Charity Navigator, reflecting its strong overall performance in accountability and finance. With a score of 93 in this category, the organization demonstrates a commitment to transparency and responsible financial management. Notably, it boasts a fully independent board, with 100% of its members being independent, which enhances its governance and decision-making processes.
In addition to its governance strengths, the foundation maintains a solid program expense ratio of 80.23%, indicating that a significant portion of its expenditures goes directly to its programs. This is a positive indicator of its effectiveness and dedication to fulfilling its mission. The organization also adheres to best practices by having listed important policies such as conflict of interest and whistleblower policies on its website.
Despite its strengths, the overall Culture & Community Score of 75 may suggest areas for potential improvement in engagement or outreach within the community. However, the foundation's commitment to accountability and effective program allocation positions it as a reputable nonprofit in its field.
This AI summary has been generated from information found on Charity Navigator.
Is The Ibma Foundation Inc legitimate?
The Ibma Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Ibma Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $25,850
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.bluegrassfoundation.org
What is the mission statement of The Ibma Foundation Inc?
The Ibma Foundation Inc's mission is centered around building a brighter future for bluegrass music. They accomplish this by supporting programs and projects that focus on various aspects of bluegrass music-related arts and culture, education, literary work, and historic preservation. This non-profit organization also helps donors create a legacy by providing them with opportunities to contribute to these initiatives. The foundation awards project grants and scholarships, specifically for the promotion of bluegrass music and support of various bluegrass education projects.
Official website here: www.bluegrassfoundation.org
What is the revenue of The Ibma Foundation Inc?
The Ibma Foundation Inc's revenue in 2024 was $172,650.
Official website here: www.bluegrassfoundation.org
Who are the executives of The Ibma Foundation Inc and what are their salaries?
There 38 volunteers at The Ibma Foundation Inc.
Here are 16 key members and their salaries:
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- Compensation: $22,000
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Official website here: www.bluegrassfoundation.org
Where can I find the form 990 for The Ibma Foundation Inc?
The Ibma Foundation Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.bluegrassfoundation.org
Learn more at the official website: www.bluegrassfoundation.org
Mission Statement of The Ibma Foundation Inc
The Ibma Foundation Inc is dedicated to constructing a brighter future for bluegrass music. This nonprofit organization aims to assist donors in leaving a lasting legacy by funding programs and projects that foster bluegrass music-related arts and culture, education, literary work, and historic preservation. The Ibma Foundation Inc's mission is to support initiatives that celebrate and nurture bluegrass music, ensuring its continuity and growth for future generations. By providing project grants and scholarships, the foundation supports various bluegrass education projects and promotes the art form in innovative ways.
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Impact
October, 2024
The Ibma Foundation Inc significantly enhances the bluegrass music landscape by promoting education, arts, and cultural preservation related to this genre. Its initiatives include awarding project grants and scholarships, which directly support the development of bluegrass music and its community. Through these efforts, the foundation plays a vital role in nurturing talent, ensuring the transmission of bluegrass traditions, and fostering appreciation for the genre among new audiences. By prioritizing programs that focus on education, literary work, and historic preservation, the foundation not only helps preserve the rich legacy of bluegrass but also empowers future generations to engage with and contribute to its evolution.
This information is meant to be a general summary of The Ibma Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $10,213
- Program Service Revenue: $430
- Gross Receipts: $185,599
Assets and Liabilities:
- Total Assets: $437,779
- Total Liabilities: $0
- Net Assets: $437,779
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ALL OTHER PROGRAM SERV
Revenue
$430
Organization Details
Founding Year
2017
Principal Officer
Trisha Tubbs
Website
www.bluegrassfoundation.orgNTEE Category
Code: A12 - Arts
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