NEW SONG MINISTRIES INC (EIN 581449159) - Form 990 Financial Analysis & Trantor Score

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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

1981

Legal Domicile

Principal Officer

BILLY GOODWIN

Phone

6789380435

Tax Period

2023-07-01 to 2024-06-30

NEW SONG MINISTRIES INC, founded in 1981, is a mid-sized nonprofit in the Religion sector that reported $18.7M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $18.0M left a modest 4% surplus.

Mission

A CHRISTIAN MUSIC MINISTRY SHARING THE GOSPEL MESSAGE THROUGH CONCERT PERFORMANCES IN SMALL AND LARGE VENUES.

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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 $0

Program Service Revenue $18,732,939

Investment Income $0

Other Revenue $0

TOTAL REVENUE $18,732,939

Expense Breakdown

Grants Paid $0

Salaries & Benefits $960,309

Fundraising Expenses $0

Program Expenses $17,961,708

Other Expenses $17,001,399

TOTAL EXPENSES $17,961,708

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,732,939	$15,167,944	+0.2%
Expenses	$17,961,708	$15,607,108	+0.2%
Net Income	$771,231	$-439,164	-2.8%

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

$325,209

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BILLY GOODWIN	CFO	40.00	Officer	$166,292	$0	$166,292
EDDIE CARSWELL	CEO	40.00	Officer	$158,917	$0	$158,917

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	$18,732,939	$17,961,708	$2,219,108	$771,231
2022	$14,502,433	$14,075,827	$1,328,680	$426,606
2021	$2,130,506	$4,550,239	$902,466	$-2,419,733
2020	$12,982,574	$13,323,517	$1,105,262	$-340,943
2019	$15,548,984	$16,355,823	$1,084,125	$-806,839
2018	$17,504,660	$18,986,677	$1,858,180	$-1,482,017

NEW SONG MINISTRIES INC