Sound In Spirit Broadcasting Inc
- Assets
- $92.8k
- Revenue
- $73.4k
- Investments
- $12.4k
- Employees
- 0
- Location
- Oskaloosa, IA
- Founding
- 02/1996
- Data as of
- 12/2022
- EIN
- 42-1445987
Organization Overview
Sound In Spirit Broadcasting Inc is located in Oskaloosa, IA. The organization was established in 1996. According to its NTEE Classification (A34) the organization is classified as: Radio, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sound In Spirit Broadcasting 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 12/2022, Sound In Spirit Broadcasting Inc generated $73.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $80.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (10.8%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Palmeter President | 50 | $1,000 | |
Nancy Paxton Treasurer | 1 | $0 | |
Donna Palmeter Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $73,176 |
| Interest on Savings | $1 |
| Dividends & Interest | $217 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $73,394 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,000 |
| Other employee salaries and wages | $4,750 |
| Pension plans, employee benefits | $440 |
| Interest | $0 |
| Taxes | $9 |
| Depreciation | $1,155 |
| Occupancy | $11,983 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $56,616 |
| Total operating and administrative expenses | $80,408 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $80,408 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,832 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $72,575 |
| Other assets | $0 |
| Total assets | $92,818 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |