Gospel Music Trust Fund Inc
- Assets
- $3.1m
- Revenue
- $108.3k
- Investments
- $3.0m
- Employees
- 0
- Location
- Brentwood, TN
- Founding
- 01/1986
- Data as of
- 12/2023
- EIN
- 58-1647495
Organization Overview
Gospel Music Trust Fund Inc is located in Brentwood, TN. The organization was established in 1986. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, 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. Gospel Music Trust Fund 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 12/2023, Gospel Music Trust Fund Inc generated $108.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (11.2%) each year. All expenses for the organization totaled $121.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Gospel Music Trust Fund Inc has awarded 85 individual grants totaling $1,037,374. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roland Lundy President | 0 | $0 | |
Bill Gaither Vice Preside | 0 | $0 | |
Ed Harper Treasurer | 0 | $0 | |
Ken Harding Secretary | 0 | $0 | |
Roger Holmes Trustee | 0 | $0 | |
Darrell Harris Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $17,748 |
| Interest on Savings | $991 |
| Dividends & Interest | $63,185 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $26,414 |
| Capital Gain Net Income | $16,218 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $108,338 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,047 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $11,207 |
| Total operating and administrative expenses | $30,577 |
| Contributions, gifts, grants paid | $90,735 |
| Total expenses and disbursements | $121,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,269 |
| Savings and temporary cash investments | $39,260 |
| 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 | $3,040,509 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,141,038 |
| 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 | $119,953 |
| Total liabilities | $119,953 |
Grants Awarded
Over the last fiscal year, Gospel Music Trust Fund Inc has awarded $90,735 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
MUSIC HEALTH ALLIANCE PURPOSE: MEDICAL | $40,000 |
PORTER'S CALL PURPOSE: SUPPORT | $40,000 |
RYAN FUNERAL HOME PURPOSE: SUPPORT | $5,567 |
MANCHESTER PSYCHOTHERAPY GROUP PURPOSE: SUPPORT | $1,500 |
AMSHER COLLECTION SERVICES PURPOSE: SUPPORT | $2,168 |
KAREN STRAUSS THERAPY LCSW PURPOSE: MEDICAL | $1,500 |