ROCK AND ROLL HALL OF FAME AND MUSEUM INC
Mission Statement
The Rock and Roll Hall of Fame has a mission to engage, teach, and inspire through the power of rock and roll. In 1983, music industry leaders created the Rock and Roll Hall of Fame Foundation to honor musicians who have made unique contributions to modern culture through music. Following a nationwide search, in 1986 they selected Cleveland as the permanent home for a one-of-a-kind museum. Since opening to the public in 1995 the Rock hall has welcomed more than 11 million visitors from all 50 states and more than 100 foreign countries, and has generated more than $2 billion in local economic impact. The Rock Hall is the world's first museum dedicated to the living heritage of rock and roll music and is the largest and most comprehensive museum that preserves and celebrates rock. Housed in a landmark glass pyramid designed by I. M. Pei (one of only two in the world), the museum showcases 150,000 square feet of interactive displays, performance spaces, and educational exhibits. New installations and items constantly refresh the permanent collection, which includes tens of thousands of musical instruments, stage outfits, album covers, cars and motorcycles, lyric sheets, vintage recording devices, and personal items of musicians and industry professionals spanning every era and genre of rock and roll. The Museum provides engaging and interactive educational experiences for its visitors through music therapy-centered pre-literacy programming for toddlers, standards-based school programs, community programs, and its many exhibits. In 2012, the Rock Hall established a separate Library and Archives on the Metro Campus of Cuyahoga Community College with a distinct mission to collect, preserve, and provide access to resources for researchers, educators, students, journalists, and the public to broaden awareness and understanding of rock and roll, its roots, and its impact on society. Scholars and fans travel to Cleveland from across the globe to access the facility’s more than 300 archival collections.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
81.7% | 79.7% |
P10P90
|
Above median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
13.5% | 13.2% |
P10P90
|
Below median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
4.8% | 5.9% |
P10P90
|
Above median |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
256.6% | 812.3% |
P10P90
|
Top quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
55.8 mo | 29.3 mo |
P10P90
|
Above median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
24.2% | 12.3% |
P10P90
|
Below median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
53.8% | 67.9% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
19.1% | 7.9% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
63.8% | 7.2% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
30.2% | 2.0% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $65.3M | $45.6M | $211.8M | 81.7% | 277 |
| 2023 | $54.8M | $27.8M | $188.3M | 74.4% | 266 |
| 2022 | $43.9M | $27.0M | $156.6M | 75.9% | 231 |
| 2021 | $52.6M | $33.4M | N/A | — | 211 |
Donor Reviews
Write a ReviewBe the first to share your experience with this organization.