THE ROCK AND ROLL HALL OF FAME AND MUSEUM INC

EIN: 341520995 501(c)(3) Arts, Culture & Humanities

CLEVELAND, OH

Total Revenue
$65,273,883
Total Expenses
$45,571,355
Total Assets
$279,346,199
Net Assets
$211,785,839
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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
OH
Principal Officer
GREG HARRIS
Phone
2167817625
Tax Period
2024-01-01 to 2024-12-31

THE ROCK AND ROLL HALL OF FAME AND MUSEUM INC, founded in 1985, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $65.3M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $19.7M, a strong 30% operating margin.

Mission

BORN FROM THE COLLISION OF RHYTHM & BLUES, COUNTRY, AND GOSPEL, ROCK & ROLL IS A SPIRIT THAT IS INCLUSIVE AND EVER-CHANGING. THE ROCK & ROLL HALL OF FAME CELEBRATES THE SOUND OF YOUTH CULTURE AND HONORS THE ARTISTS WHOSE MUSIC CONNECTS US ALL.

Program Service Accomplishments

Program 1
Expenses: $21,823,868 Revenue: $17,277,414

MUSEUM OPERATIONS: THE ROCK AND ROLL HALL OF FAME HAS ESTABLISHED ITSELF AS THE PRE-EMINENT HOME FOR THE CELEBRATION AND STUDY OF ROCK AND ROLL. IT IS A WORLD-CLASS MUSEUM AND LIBRARY AND ARCHIVES...

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MUSEUM OPERATIONS: THE ROCK AND ROLL HALL OF FAME HAS ESTABLISHED ITSELF AS THE PRE-EMINENT HOME FOR THE CELEBRATION AND STUDY OF ROCK AND ROLL. IT IS A WORLD-CLASS MUSEUM AND LIBRARY AND ARCHIVES THAT EDUCATES ITS VISITORS ABOUT THE HISTORY OF ROCK AND ROLL, FROM ITS ROOTS TO THE PRESENT, AND ABOUT ROCK AND ROLL'S IMPACT ON OUR CULTURE AND SOCIETY. IT ACCOMPLISHES ALL OF THIS WITH SEVEN FLOORS OF EXHIBITS FEATURING THOUSANDS OF HISTORIC ARTIFACTS, AS WELL AS NUMEROUS FILMS AND INTERACTIVE EXHIBITS. IN ADDITION TO THE PERMANENT EXHIBITS, THE ROCK HALL CURATES SEVERAL NEW TEMPORARY EXHIBITS EACH YEAR WHICH FOCUS ON INDIVIDUAL ARTISTS, VARIOUS GENRES OF MUSIC OR IMPORTANT ANNIVERSARIES OF HISTORIC EVENTS. IN 2024, THE TEMPORARY EXHIBITS FEATURED REVOLUTIONARY WOMEN IN MUSIC, HENRY MANCINI 100, THE ROLLING STONES REFRESHED, BON JOVI FOREVER, WORLD SERIES OF ROCK 50TH ANNIVERSARY, LES PAUL: THRU THE LENS, 1984, HOPELESS RECORDS 30TH ANNIVERSARY, SOAK UP THE SUN: THE MUSIC OF SHERYL CROW, 2024 NEW INDUCTEES, THE BEATLES: GET BACK TO LET IT BE, HOTTER THAN JULY, ICONIC: BARON WOLMAN IMAGES OF AN ERA, HOLLA IF YA HEAR ME: HIP HOP AT 50, 2023 NEW INDUCTEES, AND IN MEMORIAM. THE ROCK HALL ALSO CURATES TRAVELING EXHIBITS THAT ARE FEATURED AT OTHER MUSEUMS AND VISITOR ATTRACTIONS. FURTHER, THE LIBRARY & ARCHIVES, FOR WHICH THE ROCK HALL HAS BEEN COLLECTING ARTIFACTS SINCE IT OPENED IN 1995, HELPS THE ROCK HALL FULFILL ITS MISSION BY MAKING ONE-OF-A-KIND AUDIO AND VIDEO RECORDINGS, PROMOTIONAL MATERIALS, PERSONAL PAPERS AND BUSINESS RECORDS OF POPULAR MUSIC'S MOST INFLUENTIAL FIGURES ACCESSIBLE TO THE PUBLIC FOR THE FIRST TIME. THE LIBRARY AND ARCHIVES ALSO ENHANCES THE MUSEUM'S EDUCATION PROGRAMS.

Program 2
Expenses: $14,927,433 Revenue: $3,472,059

SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: GREG HARRIS RECEIVED A CONTRIBUTION TO THE MUSEUM'S SECTION 457(F) PLAN OF $80,000.

Program 3
Expenses: $443,665 Revenue: $388,538

EDUCATION & PUBLIC PROGRAMS: THE ROCK AND ROLL HALL OF FAMES'S EDUCATION AND PROGRAMS DIVISION PRODUCES SCORES OF ACTIVITIES AND EVENTS EACH YEAR THAT REINFORCE THE ROCK HALL'S COMMITMENT TO THE...

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EDUCATION & PUBLIC PROGRAMS: THE ROCK AND ROLL HALL OF FAMES'S EDUCATION AND PROGRAMS DIVISION PRODUCES SCORES OF ACTIVITIES AND EVENTS EACH YEAR THAT REINFORCE THE ROCK HALL'S COMMITMENT TO THE STUDY AND INTERPRETATION OF ROCK AND ROLL MUSIC AND ITS ROOTS. THE CONTENT OF THESE PROGRAMS HIGHLIGHTS NOT ONLY THE WORK OF ROCK AND ROLL HALL OF FAME INDUCTEES BUT ALSO A BROAD SPECTRUM OF POPULAR MUSIC. THESE PROGRAMS ARE PRESENTED IN A VARIETY OF FORMATS INCLUDING STUDENT GROUP PROGRAMS, INTERVIEWS, PUBLIC CONCERTS, LECTURES, FILM SCREENINGS, MASTER CLASSES, AND COMMUNITY FESTIVALS. FURTHERMORE, THE MUSEUM'S TODDLER ROCK PROGRAM ENTERED ITS 26TH YEAR AND SERVES STUDENTS FROM HEAD START PROGRAMS AROUND CLEVELAND, OH COORDINATED BY STEP FORWARD OF CUYAHOGA COUNTY. THE MUSEUM ALSO HOSTED 30+ INTERNS AND ARTISTS AS A PART OF ITS SUMMER CAREER DEVELOPMENT PROGRAM AND 8,662 OTHER STUDENTS THROUGH A VARIETY OF IMMERSIVE AND INTERACTIVE PRESENTATIONS.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $35,101,119
Program Service Revenue $18,655,040
Investment Income $3,871,435
Other Revenue $7,646,289
TOTAL REVENUE $65,273,883

Expense Breakdown

Grants Paid $0
Salaries & Benefits $14,945,674
Fundraising Expenses $2,191,357
Program Expenses $37,216,712
Other Expenses $30,625,681
TOTAL EXPENSES $45,571,355

Year-over-Year Comparison

2024 2023 Change
Revenue $65,273,883 $54,810,546 +0.2%
Expenses $45,571,355 $27,827,844 +0.6%
Net Income $19,702,528 $26,982,702 -0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
9
Employees
277
Volunteers
6

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$1,439,321
Total Directors
10
$673,284
Key Employees
5
$1,667,431
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHELE ANTHONY TRUSTEE/MEMBER 1.00
Director
$0 $0 $0
ART ANTON TRUSTEE/MEMBER 1.00
Director
$0 $0 $0
RICK CHIRICOSTA TRUSTEE/MEMBER 1.00
Director
$0 $0 $0
CHRIS CONNOR TRUSTEE/MEMBER 1.00
Director
$0 $0 $0
ROB LIGHT TRUSTEE/MEMBER 1.00
Director
$0 $0 $0
GREGG LOWE TRUSTEE/MEMBER, CO-CHAIR 8.00
Director
$0 $0 $0
JUDY MCGRATH TRUSTEE/MEMBER 1.00
Director
$0 $0 $0
JOEL PERESMAN TRUSTEE/MEMBER 1.00
Director
$0 $23,284 $673,284
JOHN SYKES TRUSTEE/MEMBER, CO-CHAIR 2.00
Director
$0 $0 $0
ALEC WIGHTMAN TRUSTEE/MEMBER 1.00
Director
$0 $0 $0
GREG HARRIS PRESIDENT & CEO 40.00
Officer
$845,978 $121,611 $967,589
SEAN O'MALLEY VP-FINANCE&FACILITIES 40.00
Officer
$244,572 $40,380 $284,952
LAURIE KOSANOVICH GENERAL COUNSEL 32.00
Officer
$166,401 $20,379 $186,780
DAWN WAYT VP-SALES & MARKETING 40.00
Key Emp
$302,468 $21,165 $323,633
JASON HANLEY VP-EDUCATION 40.00
Key Emp
$276,706 $39,921 $316,627
LIZ PESCHGES VP-CULTURE & STRATEGY 40.00
Key Emp
$332,260 $10,842 $343,102
KAYE RIDOLFI VP-DEVELOPMENT 40.00
Key Emp
$414,457 $35,669 $450,126
SHELBY MORRISON VP-CURATORIAL AFFAIRS 40.00
Key Emp
$216,614 $17,329 $233,943
TIM PARNIN VP-DIGITAL TECHNOLOGY 40.00
Highest
$287,986 $41,358 $329,344
STEVE DOBO DIR.-STRATEGIC PARTNERSHIPS 40.00
Highest
$150,271 $39,106 $189,377
BEN NYX DIRECTOR OF SOFTWARE DEV. 40.00
Highest
$164,519 $35,844 $200,363
ROB WEIL SR.DIR.-PRODUCTION&SPEC.PR 40.00
Highest
$178,505 $27,940 $206,445
TIM OFFTERMATT CONSTRUCTION PROJECT EXECUTIVE 40.00
Highest
$160,500 $4,815 $165,315
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $65,273,883 $45,571,355 $279,346,199 $19,702,528
2023 $54,810,546 $27,827,844 $198,830,930 $26,982,702
2022 $43,897,385 $26,971,448 $164,756,006 $16,925,937
2021 $52,609,977 $33,404,110 $155,983,812 $19,205,867
2020 $17,985,913 $22,854,394 $136,154,520 $-4,868,481
2019 $36,803,165 $28,764,359 $140,245,161 $8,038,806
2018 $43,662,887 $32,323,928 $126,949,978 $11,338,959
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