Bethel Music
- Assets
- $18.0m
- Revenue
- $11.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Redding, CA
- Founding
- 07/2015
- Data as of
- 07/2022
- EIN
- 47-4005681
Organization Overview
Bethel Music is located in Redding, CA. The organization was established in 2015. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bethel Music 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 07/2022, Bethel Music generated $11.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $10.3m during the year ending 07/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRODUCTION, PUBLICATION, AND SALE OF CREATIVE ASSETS FOR THE BENEFIT OF BETHEL CHURCH OF REDDING AND OTHER CHRISTIAN ARTISTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BETHEL MUSIC EXISTS TO CREATE, CAPTURE, PRODUCE, PUBLISH, AND SELL CREATIVE ASSETS FOR THE BENEFIT OF BETHEL CHURCH OF REDDING (FEIN 94-1514037) AND PROVIDES RECORD LABEL SERVICES TO OTHER CHRISTIAN ARTISTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Johnson Co-President | OfficerTrustee | 37 | $0 |
Jenn Johnson Co-President | OfficerTrustee | 35 | $0 |
Joel Taylor Vice Preside | OfficerTrustee | 40 | $0 |
Kris Vallotton Secretary | OfficerTrustee | 5 | $0 |
Bill Johnson Board Member | Trustee | 10 | $0 |
Mark Zchech Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Identify Creative Group Services | 7/30/22 | $151,612 |
The Creek Music Llc Services | 7/30/22 | $111,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $353,222 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,276 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $367,498 |
| Total Program Service Revenue | $1,460,022 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,978,169 |
| Net Rental Income | $108,399 |
| Net Gain/Loss on Asset Sales | $18,163 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,181,551 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,113,802 |
| 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 | $3,193,962 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $966,286 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $292,152 |
| Advertising and promotion | $539,961 |
| Office expenses | $69,053 |
| Information technology | $423,210 |
| Royalties | $0 |
| Occupancy | $291,181 |
| Travel | $752,875 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $584,314 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $875,762 |
| Insurance | $41,685 |
| All other expenses | $521,861 |
| Total functional expenses | $10,252,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,592,246 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,906,802 |
| Loans from Officers, Directors, or Controlling Persons | $187,180 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $34,601 |
| Prepaid expenses and deferred charges | $42,430 |
| Net Land, buildings, and equipment | $8,007,773 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,417,019 |
| Other assets | $1,790,751 |
| Total assets | $17,978,802 |
| Accounts payable and accrued expenses | $3,503,309 |
| Grants payable | $0 |
| Deferred revenue | $2,205 |
| 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 | $565,939 |
| Total liabilities | $4,071,453 |
| Net assets without donor restrictions | $13,907,349 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $17,978,802 |