I'm a member of the
Celtic Arts Foundation for Scottish/Irish music and culture but not involved in running it. It's a large organization, heavily supported financially with their own building for concerts, sessions, and workshops. Probably not relevant to what you're planning due to its size, just mentioning it.
What might be relevant is something I haven't heard mentioned yet, and that's liability coverage.
I'm a former board member of a club in a different hobby (astronomy). I eventually left over a split between board members over the level of liability insurance we should carry for events where we interacted with the public at nighttime "star parties" and school outreach events. Dark parking lots, big equipment, small ladders for some of the scope viewing. Plenty of opportunity for people to get hurt accidentally. Some of us on the board had more "deep pockets" than others as potential targets for a civil suit, so there was disagreement about how much coverage the club should have.
These events were maybe not the same liability risk level as an organized BG/OT jam session, but you'll need to consider how much exposure each member of the board will have if you organize as a nonprofit or profitable corporation. You don't want to get sued personally, if a member of the audience or club member trips on a speaker wire and breaks their hip at an event.
You might be able to find a venue where you're under the liability insurance coverage of the venue owner. Although, that may not protect you completely if you're charging membership fees or audience admission, and are seen as the organization responsible for the event. Definitely something to think about, keeping the personal injury lawyers at bay.
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