Nonprofit · EIN 52-1737962
INSTITUTE OF MUSICAL TRADITIONS INC
Tax-exempt (reinstated) · SILVER SPRING, MD 20903
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-EZ | $75,856 | $89,123 | -$13,267 | $103,364 | $5,963 | $97,401 |
| December 31, 2023 | 990-EZ | $86,679 | $76,805 | $9,874 | $114,564 | $1,918 | $112,646 |
Financial details: 990-EZ for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $26,670
- Program service revenue
- $41,752
- Investment income
- $7,434
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $23,847
- Salaries, compensation and benefits (total)
- $0
- Professional fees and payments to contractors
- $64,855
- Occupancy
- $10,115
- Printing, publications and postage
- $179
- Other expenses
- $13,974
- Program services (functional)
- $89,083
Balance sheet and other
- Total assets, start of year
- $114,564
- Total assets, end of year
- $103,364
- Total liabilities, end of year
- $5,963
- Net assets, end of year
- $97,401
- Cash, savings and investments
- $99,379
- Gross receipts
- $75,856
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-EZ for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Loralyn Coles | Assistant Executive Director | 10 | $14,000 |
| Robert Hinkal | Publicist/Webmaster/Open Mic Host | 10 | $9,847 |
| David Richardson | President | 1 | $0 |
| David Eisner | Vice-President & Executive Director | 3 | $0 |
| Arthur Shaw | Treasurer | 1 | $0 |
990-EZ for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Loralyn Coles | Assistant Executive Director | 10 | $13,900 |
| David Richardson | President | 1 | $0 |
| David Eisner | Vice-President & Executive Director | 5 | $0 |
| Arthur Shaw | Treasurer | 1 | $0 |
| Robert Hinkal | Publicist/Webmaster/Open Mic Host | 10 | $0 |
Address and contacts
- Address (IRS master file)
- 10332 PARKMAN RD, SILVER SPRING, MD 20903-1130
- Signed the 990-EZ
- Loralyn Coles, Admin
- Phone
- (301) 960-3655
- Website
- www.imtfolk.org
Mission
To promote and present folk music
Program accomplishments
- 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.Expenses $89,083
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-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 52-1737962
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2014
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A99)
- Assets (IRS master file)
- $103,364
- Income (IRS master file)
- $75,856
Revocation and reinstatement
- Exemption revoked
- May 15, 2013
- Posted by the IRS
- October 21, 2013
- Reinstated
- Effective May 15, 2013
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2024 | $75,856 | $89,123 | $103,364 | IRS |
| 990-EZ | December 2023 | $86,679 | $76,805 | $114,564 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | 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 52-1737962).
Questions about INSTITUTE OF MUSICAL TRADITIONS INC
- What is the EIN of INSTITUTE OF MUSICAL TRADITIONS INC?
- The employer identification number (EIN) of INSTITUTE OF MUSICAL TRADITIONS INC is 52-1737962.
- Is INSTITUTE OF MUSICAL TRADITIONS INC tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2013 and reinstated it effective May 15, 2013.
- Are donations to INSTITUTE OF MUSICAL TRADITIONS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INSTITUTE OF MUSICAL TRADITIONS INC 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 INSTITUTE OF MUSICAL TRADITIONS INC 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 INSTITUTE OF MUSICAL TRADITIONS INC last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2024.
- Who are the officers and directors of INSTITUTE OF MUSICAL TRADITIONS INC?
- The 990-EZ for the year ended December 31, 2024 lists 5 people; 2 received compensation from the organization, the highest $14,000 (Loralyn Coles, Assistant Executive Director).
- How much revenue does INSTITUTE OF MUSICAL TRADITIONS INC have?
- On its 990-EZ for the year ended December 31, 2024 it reported revenue of $75,856, expenses of $89,123 and total assets of $103,364 at year end.
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