Faith Sound Inc
- Assets
- $121.5k
- Revenue
- $174.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Rochester, MN
- Founding
- 07/1964
- Data as of
- 12/2021
- EIN
- 41-1232244
Organization Overview
Faith Sound Inc is located in Rochester, MN. The organization was established in 1964. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Faith Sound Inc employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Faith Sound Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Faith Sound Inc generated $174.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $170.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATE CHRISTIAN RADIO STATION & SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE CHRISTIAN RADIO STATION
OPERATE CHRISTIAN SCHOOL FOR K-12
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Kelley Treasurer | Officer | 4 | $0 |
Donald Riley Secretary | Officer | 4 | $0 |
David Gibbs Board Member | Officer | 4 | $0 |
Paul Logan President | Officer | 40 | $0 |
Timothy Logan Vice President | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $157,047 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $157,047 |
| Total Program Service Revenue | $17,444 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $174,491 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,867 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,864 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,809 |
| Information technology | $2,074 |
| Royalties | $0 |
| Occupancy | $24,400 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,366 |
| Insurance | $544 |
| All other expenses | $7,393 |
| Total functional expenses | $170,634 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,522 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $90,999 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $121,521 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $121,521 |
| Total liabilities and net assets/fund balances | $121,521 |
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