Burning Man Project is the nonprofit whose mission is to facilitate and extend the culture that has emerged from the Burning Man event into the larger world. Information in this section is a combination of management financial reporting, which is used to manage the operations, as well as reported in Burning Man Project’s Form 990 tax filings, up to and including 2024.
On This Page
Overview
New for the 2024 filings, Burning Man Project’s IRS Form 990 reporting aligns to the nonprofit’s chartered Program Areas. This means, for example, that we no longer report expenses by arbitrary and overlapping categories such as Black Rock City, Arts, and Civic Engagement, but according to a structure that better reports revenue and expenses aligned to the six nonprofit Program Areas. This change clarifies reporting without changing operations.
Formalized in 2011 by Burning Man Project’s founders, the Program Areas identify the ways in which the nonprofit today and in the future can influence a more thriving world.
Several operational platforms activate across multiple Program Areas. For example, Black Rock City is a platform that touches five Program Areas – Arts, Education, Culture Centers, Philosophical Center, and Civic Engagement.
Revenue & Expenses
Burning Man Project’s 2024 U.S. Generally Accepted Accounting Principles-based management reporting results were $57.5M in total revenue and $68.2M in total expenses, for a net loss of $10.7M. A confluence of factors impacted Burning Man Project in 2024, including rising production costs for Black Rock City and a global decline in attendance at cultural events. Higher-priced tickets did not sell as planned; this, paired with a dip in overall ticket sales, led to a ticket revenue shortfall. We cut expenses, reduced staff and raised funds. Burning Man Project was able to raise enough funds in combination of using cash to bridge the activities to 2025 where the updated ticketing model and philanthropic activity, combined with the cost decreases actioned in 2024 carried a more streamlined financial model for more sustained long-term operations.
Ticket sales to the Black Rock City event continue to be Burning Man Project’s major source of revenue. Ticket sales cover the majority of the cost of the BRC platform, but additional funding is needed to help keep ticket pricing as accessible as possible. Gifting is encouraged in the ticket purchase process. Enabling reduced-price options in the spirit of Radical Inclusion. Currently, general philanthropy is enabling the activation of program areas beyond Black Rock City.
Historical Revenue by Type
Burning Man Project IRS Form 990 Revenues by type up to 2024
Historical Total Cost by Type
Burning Man Project IRS Form 990 Total Cost by type up to 2024
2024 Expenses by Type by Platform
For 2024, the expenses by type by platform illustrate the real cost of each of the platforms. In particular, the largest platform that has the largest mission impact, Black Rock City, in 2024 was approximately 85% of total expenses. The largest expense categories are 1) Payroll and Benefits as well as all other human-related costs (insurance, workers comp, etc.); 2) Equipment Rental for the infrastructure of BRC; 3) Services purchased for BRC (primarily fire and medical); 4) permits and fees.
The table illustrates examples [not an exhaustive list] of how the platforms are financially contributing to the mission.*COGS include Materials, Supplies, Repairs, Software
Black Rock City
Cost per Attendee
While it is not a Program Area, Black Rock City remains our biggest platform in terms of both revenue and cost, so it is important to continue tracking the cost per attendee to inform our ticket pricing decisions and philanthropic strategies.
| COST YEAR | BRC cost (in millions) | Population* | Cost Per Attendee | Main Ticket Price | Profit/Loss per main ticket |
|---|---|---|---|---|---|
| 2015 | $32.1 | 67,564 | $475 | $390 | -$85 |
| 2016 | $32.2 | 67,290 | $479 | $390 | -$89 |
| 2017 | $35.3 | 69,493 | $508 | $425 | -$83 |
| 2018 | $37.3 | 70,248 | $531 | $425 | -$106 |
| 2019 | $38.0 | 78,850 | $482 | $425 | -$57 |
| 2020 | $16.0 | 0 | n/a | n/a | n/a |
| 2021 | $18.5 | 0 | n/a | n/a | n/a |
| 2022 | $50.8 | 75,069 | $676 | $475 | -$201 |
| 2023 | $55.5 | 74,126 | $749 | $575 | -$174 |
| 2024 | $58.1 | 69,141 | $840 | $575 | -$265 |
* Population as indicated on the Burning Man Project Timeline and agreed upon with the Bureau of Land Management. Note that for 2024 the population dipped compared to 2023, while costs environment continued to rise.
- Cost per attendee is BRC cost divided by population.
- Main ticket price is the cost of a main sale ticket.
- Profit/loss per attendee is the difference between cost per attendee and main ticket price.
By comparing the BRC cost divided by the population for each of the years to the main sale ticket price, it’s evident that since 2014, tickets have been subsidized to keep Black Rock City accessible to as many people as possible. In 2016, with the da Vinci’s Workshop theme, we amplified the higher priced tickets as a way to mirror the desire for patronage and support of the nonprofit and offsetting ticket prices. Over time, that underwriting of costs is not enough to maintain an accessible event and advance the global culture.
Cash & Fixed Assets
Burning Man Project is committed to keeping the Burning Man culture and Black Rock City diverse and available – one of the ways that will allow for this is property and asset development, which will reduce our reliance on renting and minimizes the impact of shifting economic landscapes. Our liquid cash reserves allow for program development and build resilience to weather the next “big thing.”
Year-end Cash Balance
The graph below is our year-end cash balance from 2014 onwards, as reported on the IRS Form 990. Due to the cyclical nature of the ticket sales (spring) and fundraising (late fall/winter), cash management requires careful timing considerations. Source: IRS Form 990
Fixed assets
Multi-year investments typically in the form of vehicles, buildings, land, or significant improvements that require “capitalization” from an accounting and tax perspective, which means they are included as an asset. These types of assets require ongoing maintenance and capital development. Technical note: beginning and ending balances are net of depreciation. Source: IRS Form 990
| Source | Year | Fixed Assets Beginning Balance | Fixed Assets Ending Balance | Fixed Assets Changes During the Year |
|---|---|---|---|---|
| 990 | 2015 | 3.0 | 2.9 | -0.1 |
| 990 | 2016 | 2.9 | 10.0 | 7.1 |
| 990 | 2017 | 10.0 | 9.9 | -0.1 |
| 990 | 2018 | 9.9 | 9.8 | -0.1 |
| 990 | 2019 | 9.8 | 9.5 | -0.3 |
| 990 | 2020 | 9.5 | 9.2 | -0.3 |
| 990 | 2021 | 9.2 | 10.0 | 0.8 |
| 990 | 2022 | 10.0 | 13.4 | 3.4 |
| 990 | 2023 | 13.4 | 16.6 | 3.2 |
| 990 | 2024 | 16.6 | 16.2 | -0.3 |
- Fixed Assets Beginning Balance is the beginning year of the balance of fixed assets.
- Fixed assets Ending Balance is the ending of the year balance of fixed assets.
- Fixed Assets Changes During the Year is the difference between beginning and ending. This shows the additions of fixed assets (offset by depreciation, which is the over-time expense of fixed assets).
What does this fixed asset chart all mean?
- In 2014, we purchased Black Rock Station, which is the storage ranch for infrastructure and vehicles for Black Rock City, as well as other properties in Gerlach which are all used to support the Black Rock City build, and tear-down operations.
- In 2016 we purchased Fly Ranch exclusively with contributions (donations)raised for acquisition.
- Other fixed assets include The 360, other smaller properties, vehicles and staff housing that all are in support of BRC.
- Income generated from operations (Revenue less Expenses) has been invested in fixed assets.
Platform and Program Areas
For 2024, the total costs by chartered Program Areas and operational platforms bringing the Program Areas to life – the table below illustrates examples [not an exhaustive list] of how the platforms are financially contributing to the mission.
Reconciliation
The management financials total revenue and cost under US GAAP differ from what is reported on the 2024 IRS Form 990. The majority of this difference boils down to how two items are reported on the IRS Form 990: Cost of Goods Sold (COGS) and Donated Services/Rent. COGS is netted in the Revenue calculation on the IRS Form 990, reducing both Revenue and Expense (IRS Form 990 Part 1: lines 12 and 18). Certain donated services, and corresponding donation revenue, are reported on our US GAAP management financials, but not the IRS Form 990. Showing donated services, such as rent or software, helps show the bigger giving picture and cost. Below is a quick reconciliation between the numbers.