Stream Of Praise Music Ministries
- Assets
- $7.0m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 23
- Location
- Tustin, CA
- Founding
- 02/1997
- Data as of
- 12/2023
- EIN
- 95-4586110
Organization Overview
Stream Of Praise Music Ministries is located in Tustin, CA. The organization was established in 1997. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2023, Stream Of Praise Music Ministries employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stream Of Praise Music Ministries 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, Stream Of Praise Music Ministries generated $2.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 6.3% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO REACH PEOPLE WITH THE GOSPEL OF CHRIST THRU MUSICAL CONCERTS IN US & ASIAN COUNTRIES, TO PUBLISH MUSIC CD AND SONG BOOKS, AND TO HOSE MUSIC SEMINARS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCE AND DISTRIBUTE GOSPEL MUSIC TO PROMOTE BIBLICAL MESSAGE TO THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandy Yu President | OfficerTrustee | 40 | $78,600 |
Ely Yao Secretary | OfficerTrustee | 30 | $78,231 |
Timothy Huang Director | Trustee | 5 | $0 |
Steve Sze Director | Trustee | 5 | $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 | $1,422,198 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,422,198 |
| Total Program Service Revenue | $834,018 |
| Investment income | $5,262 |
| 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 | $551,271 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,812,749 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,976 |
| Grants and other assistance to domestic individuals. | $43,937 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $156,831 |
| Compensation of current officers, directors, key employees. | $156,831 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $959,909 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $69,757 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,324 |
| Advertising and promotion | $0 |
| Office expenses | $67,932 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $203,688 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $128,448 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $161,177 |
| Insurance | $97,918 |
| All other expenses | $104,397 |
| Total functional expenses | $2,435,551 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,386,208 |
| Savings and temporary cash investments | $887,002 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $123,489 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $37,800 |
| Prepaid expenses and deferred charges | $1,617 |
| Net Land, buildings, and equipment | $4,521,415 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $8,641 |
| Other assets | $1,000 |
| Total assets | $6,967,172 |
| Accounts payable and accrued expenses | $160,251 |
| 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 | $2,841,614 |
| Total liabilities | $3,001,865 |
| 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 | $3,965,307 |
| Total liabilities and net assets/fund balances | $6,967,172 |
Grants Awarded
Over the last fiscal year, Stream Of Praise Music Ministries has awarded $48,976 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BIOLA UNIVERSITY | | | $15,476 |
CHINESE NEIGHBORHOOD COVENANT | | | $12,000 |
UNIVERSITY OF CALIFORNIA IRVI | | | $13,760 |
S NEW HAMPSHIRE UNIVERSITY | | | $7,740 |