SOUTHERN GOSPEL MUSIC ASSOCIATION … - Form 990 Financial Data

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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

1994

Legal Domicile

Principal Officer

ARTHUR RICE

Phone

8659084040

Tax Period

2023-01-01 to 2023-12-31

SOUTHERN GOSPEL MUSIC ASSOCIATION INC, founded in 1994, is a small nonprofit in the Arts, Culture & Humanities sector that reported $196K in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $190K left a modest 3% surplus.

Mission

TO PRESERVE AND PROMOTE THE HERITAGE OF SOUTHERN GOSPEL MUSIC.

Program Service Accomplishments

Program 1

Expenses: $139,479

HISTORICALLY PRESERVE THE HERITAGE OF SOUTHERN GOSPEL MUSIC THROUGH MAINTAINING THE SOUTHERN GOSPEL HALL OF FAME AND MUSEUM.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $202,195

Program Service Revenue $0

Investment Income $349

Other Revenue $-6,791

TOTAL REVENUE $195,753

Expense Breakdown

Grants Paid $3,280

Salaries & Benefits $60,079

Fundraising Expenses $3,732

Program Expenses $139,479

Other Expenses $126,496

TOTAL EXPENSES $189,855

Year-over-Year Comparison

	2023	2022	Change
Revenue	$195,753	$216,741	-0.1%
Expenses	$189,855	$185,995	+0.0%
Net Income	$5,898	$30,746	-0.8%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD HYSSONG	DIRECTOR	2.00	Director	$0	$0	$0
GERALD WOLFE	DIRECTOR	2.00	Director	$0	$0	$0
PAUL PITTS	DIRECTOR	2.00	Director	$0	$0	$0
MAURICE TEMPLETON	DIRECTOR	2.00	Director	$0	$0	$0
MIKE LEFEVRE	DIRECTOR	2.00	Director	$0	$0	$0
KELLY NELON CLARK	DIRECTOR	2.00	Director	$0	$0	$0
DANNY JONES	DIRECTOR	2.00	Director	$0	$0	$0
RICK SHELTON	DIRECTOR	2.00	Director	$0	$0	$0
DEAN HICKMAN	DIRECTOR	2.00	Director	$0	$0	$0
CLARKE BEASLEY	DIRECTOR	2.00	Director	$0	$0	$0
CHRIS WHITE	DIRECTOR	2.00	Director	$0	$0	$0
AARON RICH	DIRECTOR	2.00	Director	$0	$0	$0
JONATHAN WILBURN	DIRECTOR	2.00	Director	$0	$0	$0
WAYNE HAUN	DIRECTOR	2.00	Director	$0	$0	$0
ALAN KENDALL	DIRECTOR	2.00	Director	$0	$0	$0
GREG BENTLEY	DIRECTOR	2.00	Director	$0	$0	$0
RICK SHEETS	DIRECTOR	2.00	Director	$0	$0	$0
JARROD VANDERSLICE	DIRECTOR	2.00	Director	$0	$0	$0
JIM BRADY	DIRECTOR	2.00	Director	$0	$0	$0
TRAVIS BRIDGEMAN	SECRETARY	2.00	Officer	$0	$0	$0
KAREN PECK GOOCH	TREASURER	2.00	Officer	$0	$0	$0
ARTHUR RICE	PRESIDENT	2.00	Officer	$0	$0	$0
GARY CASTO	VICE PRESIDENT	2.00	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
2024	No data	No data	No data	No data
2023	$195,753	$189,855	$248,530	$5,898
2022	$216,741	$185,995	$247,377	$30,746
2021	$193,492	$722,487	$210,337	$-528,995
2020	$39,139	$79,714	$739,549	$-40,575
2019	$103,974	$146,569	$785,770	$-42,595
2018	$104,560	$145,692	$825,648	$-41,132

SOUTHERN GOSPEL MUSIC ASSOCIATION INC