Somerset Educational Broadcasting Foundation
- Assets
- $562.9k
- Revenue
- $918.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Somerset, KY
- Founding
- 07/1985
- Data as of
- 12/2022
- EIN
- 61-1065004
Organization Overview
Somerset Educational Broadcasting Foundation is located in Somerset, KY. The organization was established in 1985. According to its NTEE Classification (X80) the organization is classified as: Religious Media & Communications, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Somerset Educational Broadcasting Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somerset Educational Broadcasting Foundation 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, Somerset Educational Broadcasting Foundation generated $918.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $929.1k during the year ending 12/2022. While expenses have increased by 6.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
PROVIDE RELIGIOUS BROADCASTING TO A 27-COUNTY SERVICE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS ABLE TO PROVIDE RELIGIOUS BROADCASTING TO A 27-COUNTY SERVICE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Carr Director | OfficerTrustee | 40 | $0 |
Mary Reynolds Assistant | Officer | 30 | $0 |
Carolyn Jones Assistant | Officer | 40 | $0 |
Myra G Carr Trustee | Trustee | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $918,496 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $918,496 |
| Total Program Service Revenue | $0 |
| Investment income | $42 |
| 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 | $918,538 |
| 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. | $163,821 |
| Compensation of current officers, directors, key employees. | $98,293 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,538 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,076 |
| Fees for services: Accounting | $22,955 |
| 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 | $13,377 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,398 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,407 |
| Insurance | $29,078 |
| All other expenses | $367,605 |
| Total functional expenses | $929,149 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $232,470 |
| 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 | $9,752 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $320,690 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $562,912 |
| 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 | $5,343 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,343 |
| Net assets without donor restrictions | $557,569 |
| 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 | $562,912 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Somerset Educational Broadcasting Foundation has recieved totaling $100.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: CULTURE | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Voice Of God Recordings Inc Jeffersonville, IN | $43,774,947 | $24,555,801 |
Lighthouse Catholic Media Nfp Sycamore, IL | $3,138,971 | $6,043,482 |
Daily Audio Bible Spring Hill, TN | $5,606,352 | $3,425,803 |
Strong Tower Christian Media Xenia, OH | $3,164,622 | $2,058,080 |
Fellowship Of St James Chicago, IL | $675,681 | $1,272,883 |
Don Shire Ministries Inc Bedford, VA | $1,411,136 | $1,174,975 |
Arrabon Richmond, VA | $1,550,749 | $2,350,562 |
Somerset Educational Broadcasting Foundation Somerset, KY | $562,912 | $918,538 |
Soulmedic Media Group Inc Fort Wayne, IN | $2,247,973 | $1,463,247 |
Tech Mission Inc Kansas City, MO | $391,175 | $655,832 |
Audioverse Collegedale, TN | $1,359,066 | $874,182 |
Christian Family Media Ministries Inc Bowling Green, KY | $378,312 | $518,574 |