Rock & Roll Hall of Fame 2013: $6 Mil in Income, $0 to Musicians or Anyone Else
It’s the same story I’ve been writing for about 15 years now.
The Rock & Roll Hall of Fame prepares for tomorrow night’s extravaganza at the Braclays Center. The non profit Hall of Fame Foundation charges thousands of dollars for prime tickets, gives just two passes to inductees, and makes enemies left and right.
Let’s remember: they’re inducting the late Brian Epstein, and Rolling Stones original manager Andrew Loog Oldham. The latter refuses to attend. For the former, no one from his family is invited.
Tickets start at $3,000 to sit on the floor. For the public, there are at least 2,000 tickets circulating on the web. (Not all of the Barclays is being used.)
Here are the numbers from the 2013 tax filing Form 990:
Total assets: $9.6 million
Total income for 2013: $6 million.
Total amount spent on musicians or anyone in the world: Zero dollars.
Salaries: $500,000 approx. That’s $392,728 for CEO Joel Peresman and $100,000 to office workers.
Donation to the actual Rock & Roll Hall of Fame: $75,000.
Rent: $72,000*. *The offices are at Rolling Stone magazine, which is owned by the Rock Hall’s primo chief Jann Wenner, who rules the Rock & Roll Hall of Fame.
Still not in the Hall: Lou Reed, Chicago, Moody Blues, Chubby Checker, Billy Preston, Todd Rundgren, Ringo Starr, Sting, Bon Jovi, Rufus and Carla Thomas, Carly Simon, J Geils Band, and so on.
The Rock and Roll Hall of Fame will remain just another building in Cleveland until Carly Simon is enshrined.