Gospel Recordings
- Assets
- $3.5m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 20
- Location
- Tucson, AZ
- Founding
- 04/1945
- Data as of
- 12/2023
- EIN
- 95-6539977
Organization Overview
Gospel Recordings is located in Tucson, AZ. The organization was established in 1945. 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, Gospel Recordings employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gospel Recordings 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 Recordings generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (6.4%) 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
IN PARTNERSHIP WITH THE CHURCH, TO EFFECTIVELY COMMUNICATE THE GOOD NEWS OF JESUS CHRIST BY MEANS OF CULTURALLY APPROPRIATE AUDIO AND AUDIO-VISUAL MATERIALS IN EVERY LANGUAGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOSPEL RECORDINGS, INC., DBA GLOBAL RECORDINGS NETWORK (GRN) IS THE FOUNDING PARTNER IN THE WORLDWIDE FELLOWSHIP OF GRN CENTERS AND BASES WITH OFFICES IN OVER 40 COUNTRIES. IN 2019, THE USA CENTER DISTRIBUTED THOUSANDS OF FREE RECORDINGS THROUGH THE ONLINE APP 5FISH, CDS, SD CARDS, THUMB DRIVES, MP3 PLAYERS AND OTHER AUDIO DEVICES. GRN HAS RECORDINGS OF THE STORY OF JESUS IN OVER 6,000 LANGUAGES AND DIALECTS FOR DOWNLOADING. IN 2023, OVER 4 MILLION HOURS OF RECORDED GOSPEL MESSAGES WERE DOWNLOADED FROM GRN SERVERS OVER THE INTERNET. THE NETWORK IN 2023, GRN ADDED RECORDINGS IN OVER 150 DIFFERENT LANGUAGES AND DIALECTS FROM AROUND THE WORLD THAT HAD NEVER BEEN RECORDED BY ANYONE BEFORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Cornthwaite Jr President | OfficerTrustee | 2 | $0 |
Mark Pearsey Vice President | OfficerTrustee | 2 | $0 |
Preston Korn Secretary | OfficerTrustee | 2 | $0 |
Skip Garmo Executive Director | OfficerTrustee | 40 | $0 |
Mack Timm Treasurer | OfficerTrustee | 2 | $0 |
David Overstreet Member | Trustee | 2 | $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 | $1,461,721 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,461,721 |
| Total Program Service Revenue | $0 |
| Investment income | $354 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,589 |
| 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 | -$3,170 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,476,314 |
| 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 | $178,934 |
| 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 | $478,056 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $39,379 |
| Fees for services: Management | $35,172 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,939 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,233 |
| Advertising and promotion | $0 |
| Office expenses | $106,315 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $79,823 |
| Travel | $8,130 |
| 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 | $31,864 |
| Insurance | $0 |
| All other expenses | $1,679 |
| Total functional expenses | $1,178,089 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $716,692 |
| Savings and temporary cash investments | $1,929,917 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $855,564 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,502,173 |
| Accounts payable and accrued expenses | $4,933 |
| 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 | $0 |
| Total liabilities | $4,933 |
| Net assets without donor restrictions | $3,333,457 |
| Net assets with donor restrictions | $163,783 |
| 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 | $3,502,173 |