Nonprofit · EIN 56-0729350
BREVARD MUSIC CENTER INCORPORATED
Tax-exempt · BREVARD, NC 28712
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $14,663,759 | $9,862,192 | $4,801,567 | $72,689,061 | $4,849,470 | $67,839,591 |
| December 31, 2023 | 990 | $12,498,572 | $9,219,961 | $3,278,611 | $67,385,532 | $5,410,412 | $61,975,120 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $6,098,973
- of which government grants
- $82,500
- Program service revenue
- $4,152,443
- Investment income
- $3,891,343
- Net rental income
- $120,172
- Net gain from sales of assets
- $2,502,034
- Net income from fundraising events
- -$42,395
- Net income from gaming
- $135,381
- Net income from sales of inventory
- $25,204
- Other revenue
- $521,000
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $527,505
- Other salaries and wages
- $2,808,464
- Salaries, compensation and benefits (total)
- $3,879,900
- Professional fundraising fees
- $0
- Legal fees
- $2,198
- Accounting fees
- $50,848
- Occupancy
- $600,566
- Travel
- $138,747
- Depreciation
- $1,151,066
- Program services (functional)
- $7,657,100
- Management and general (functional)
- $1,460,069
- Fundraising (functional)
- $745,023
Balance sheet and other
- Total assets, start of year
- $67,385,532
- Total assets, end of year
- $72,689,061
- Total liabilities, end of year
- $4,849,470
- Net assets, end of year
- $67,839,591
- Land, buildings and equipment
- $20,724,768
- Publicly traded securities
- $43,728,577
- Net assets without donor restrictions
- $27,701,964
- Net assets with donor restrictions
- $40,137,627
- Gross unrelated business income
- $15,006
- Gross receipts
- $14,895,010
- Employees
- 282
- Volunteers
- 220
- Year formed
- 1947
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jason Posnock | President & CEO Officer | 40 | $225,846 | $34,234 |
| Dave Perrett | Sr. Director of Development Highest-paid employee | 40 | $167,746 | $23,126 |
| Keith Arbogast | Chief Financial Officer Officer | 40 | $167,699 | $22,203 |
| Mark Weinstein | Former President Former | – | $150,000 | $0 |
| Aimee Smallwood | Advancement Officer Highest-paid employee | 40 | $114,796 | $15,247 |
| Bill Hackney | Board Chair Trustee or director, Officer | 3 | $0 | $0 |
| Pat Crull | Secretary Trustee or director, Officer | 3 | $0 | $0 |
| Rich Jacobs | Board Vice-Chair Trustee or director, Officer | 3 | $0 | $0 |
| Sue Henderson | Board Treasurer Trustee or director, Officer | 3 | $0 | $0 |
| Betsy Barefoot | Board Member Trustee or director | 3 | $0 | $0 |
| Blake-Anthony Johnson | Board Member Trustee or director | 3 | $0 | $0 |
| Bob Olsen | Board Member Trustee or director | 3 | $0 | $0 |
| Bruce Berryhill | Board Member Trustee or director | 3 | $0 | $0 |
| Charles Weiss | Board Member Trustee or director | 3 | $0 | $0 |
| Charlotte Cameron | Board Member Trustee or director | 3 | $0 | $0 |
21 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Douglas Bailey | Board Member Trustee or director | 3 | $0 |
| Edie Cecil | Board Member Trustee or director | 3 | $0 |
| Falls Harris | Board Member Trustee or director | 3 | $0 |
| Helen Peery | Board Member Trustee or director | 3 | $0 |
| Jerusha Fadial | Board Member Trustee or director | 3 | $0 |
| John Candler | Board Member Trustee or director | 3 | $0 |
| Judith Tijattas | Board Member Trustee or director | 3 | $0 |
| Katherine Volitile | Board Member Trustee or director | 3 | $0 |
| Katie Loeb-Schwab | Board Member Trustee or director | 3 | $0 |
| Laurie Ombres | Board Member Trustee or director | 3 | $0 |
| Linda Thompson | Board Member Trustee or director | 3 | $0 |
| M Beatie Wood | Board Member Trustee or director | 3 | $0 |
| Martha Coursey | Board Member Trustee or director | 3 | $0 |
| Martin Tijattas | Board Member Trustee or director | 3 | $0 |
| Mary Owen | Board Member Trustee or director | 3 | $0 |
| Mike Abney | Board Member Trustee or director | 3 | $0 |
| Phillip Jerome | Board Member Trustee or director | 3 | $0 |
| Roy Smart | Board Member Trustee or director | 3 | $0 |
| Ruby Morgan | Board Member Trustee or director | 3 | $0 |
| T Kenneth Cribb Jr | Board Member Trustee or director | 3 | $0 |
| Thomas Bolton | Board Member Trustee or director | 3 | $0 |
990 for the year ended December 31, 2023: 33 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARK WEINSTEIN | PRESIDENT Officer | 40 | $435,000 | $14,310 |
| JASON POSNOCK | VICE-PRESIDENT Officer | 40 | $173,414 | $31,144 |
| KEITH ARBOGAST | CHIEF FINANCIAL OFFICER Officer | 40 | $162,507 | $21,856 |
| DAVE PERRETT | SR DIRECTOR OF DEVELOPMENT Highest-paid employee | 40 | $161,000 | $22,538 |
| AIMEE SMALLWOOD | ADVANCEMENT OFFICER Highest-paid employee | 40 | $110,359 | $13,473 |
| BILL HACKNEY | BOARD CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| PAT CRULL | SECRETARY Trustee or director, Officer | 3 | $0 | $0 |
| RICH JACOBS | BOARD VICE-CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| SUE HENDERSON | BOARD TREASURER Trustee or director, Officer | 3 | $0 | $0 |
| BARBARA STEADMAN | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| BETSY BAREFOOT | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| BLAKE-ANTHONY JOHNSON | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| BOB OLSEN | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| BRUCE BERRYHILL | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| CHARLES WEISS | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| CHARLOTTE CAMERON | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| DOUGLAS BAILEY | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| EDIE CECIL | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| FALLS HARRIS | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| HELEN PEERY | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| JERUSHA B FADIAL | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| JOHN CANDLER | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| KATIE LOEB-SCHWAB | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| LAURIE OMBRES | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| LINDA THOMPSON | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| M BEATIE WOOD | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| MARTHA COURSEY | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| MARY G OWENS | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| MIKE ABNEY | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| PHILLIP JEROME | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| RUBY MORGAN | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| T KENNETH CRIBB JR | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
| THOMAS C BOLTON | BOARD MEMBER Trustee or director | 3 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 312, BREVARD, NC 28712-0312
- Principal officer (990 for 2024)
- JASON POSNOCK, PO BOX 312, Brevard, NC 28712
- Signed the 990
- Keith Arbogast, CFO
- Phone
- (828) 862-2100
- Website
- WWW.BREVARDMUSIC.ORG
- Return prepared by
- Forvis Mazars LLP
Mission
Brevard Music Center, a summer institute and festival, teaches gifted young musicians to prepare and perform great musical works at a high artistic level.
Program accomplishments
- The Brevard Music Center Summer Institute and Festival is a prestigious annual event that provides young musicians with intensive training and performance opportunities. The programs offered-Jazz, Orchestral Studies, Piano, Composition, Voice, and Opera-showcase a diverse and comprehensive curriculum designed to cater to students with varying musical interests and specialties. Each summer, the Center welcomes nearly 1,000 students who immerse themselves in rigorous training and masterclasses led by accomplished instructors and professional musicians. These students then apply their skills in a real-world context through approximately 25 public performances, including recitals, concerts, and fully staged productions, providing them with valuable performance experience. From June through August, BMC's active summer season draws in over 40,000 music enthusiasts, families, and supporters to witness a wide array of musical events. This period is not only an educational opportunity for participants but also a cultural highlight for audiences who attend the performances.Expenses $7,657,100 · revenue $4,282,813
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-0729350
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1949
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $72,689,061
- Income (IRS master file)
- $14,895,010
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $14,663,759 | $9,862,192 | $72,689,061 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $12,498,572 | $9,219,961 | $67,385,532 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $10,243,958 | $8,550,358 | $62,820,659 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-0729350).
Questions about BREVARD MUSIC CENTER INCORPORATED
- What is the EIN of BREVARD MUSIC CENTER INCORPORATED?
- The employer identification number (EIN) of BREVARD MUSIC CENTER INCORPORATED is 56-0729350.
- Is BREVARD MUSIC CENTER INCORPORATED tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1949.
- Are donations to BREVARD MUSIC CENTER INCORPORATED tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BREVARD MUSIC CENTER INCORPORATED file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BREVARD MUSIC CENTER INCORPORATED due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BREVARD MUSIC CENTER INCORPORATED last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of BREVARD MUSIC CENTER INCORPORATED?
- The 990 for the year ended December 31, 2024 names JASON POSNOCK.
- Who are the officers and directors of BREVARD MUSIC CENTER INCORPORATED?
- The 990 for the year ended December 31, 2024 lists 36 people; 5 received compensation from the organization, the highest $225,846 (Jason Posnock, President & CEO).
- How much revenue does BREVARD MUSIC CENTER INCORPORATED have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $14,663,759, expenses of $9,862,192 and total assets of $72,689,061 at year end.
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