FAITH SOUND INC

EIN: 411232244 501(c)(3)

ROCHESTER, MN

Total Revenue
$207,456
Total Expenses
$238,606
Total Assets
$74,139
Net Assets
$74,139
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
MN
Principal Officer
PAUL LOGAN
Phone
5072898585
Tax Period
2024-01-01 to 2024-12-31

FAITH SOUND INC, founded in 1972, is a small nonprofit that reported $207K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $239K exceeded revenue, resulting in a 15% operating deficit.

Mission

operate christian radio station and school

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $198,285
Program Service Revenue $9,171
Investment Income $0
Other Revenue $0
TOTAL REVENUE $207,456

Expense Breakdown

Grants Paid $0
Salaries & Benefits $64,300
Fundraising Expenses $0
Program Expenses $228,240
Other Expenses $174,306
TOTAL EXPENSES $238,606

Year-over-Year Comparison

2024 2023 Change
Revenue $207,456 $190,225 +0.1%
Expenses $238,606 $195,530 +0.2%
Net Income $-31,150 $-5,305 +4.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
5
Employees
4
Volunteers
12

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$27,400
Total Directors
4
$27,400
Key Employees
4
$27,400
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID GIBBS BOARD MEMBER 4
Officer Director Key Emp
$0 $0 $0
PAUL LOGAN PRESIDENT 40
Officer Director Key Emp
$25,000 $0 $25,000
PATRICK KELLY TREASURER 4
Officer Director Key Emp
$2,400 $0 $2,400
TIMOTHY LOGAN VICE PRESIDENT 4
Officer Director Key Emp
$0 $0 $0
DONALD RILEY SECRETARY 4
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $207,456 $238,606 $74,139 $-31,150
2023 $190,225 $195,530 $105,289 $-5,305
2022 $178,886 $189,437 $111,346 $-10,551
2021 $174,491 $170,634 $121,521 $3,857
2020 $181,530 $188,475 $118,113 $-6,945
2019 $145,874 $171,348 $125,058 $-25,474
2018 $152,986 $166,547 $150,075 $-13,561
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