GOSPEL MUSIC ASSOCIATION INC (EIN 620783972) - 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

1964

Legal Domicile

Principal Officer

JACKIE PATILLO

Phone

6158870284

Tax Period

2024-01-01 to 2024-12-31

GOSPEL MUSIC ASSOCIATION INC, founded in 1964, is a community nonprofit in the Arts, Culture & Humanities sector that reported $6.8M in total revenue in fiscal year 2024. Revenue surged 601% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.5M, a strong 37% operating margin.

Mission

EDUCATION, RECOGNITION, AND PRESERVATION OF THE HISTORY AND LEGACY OF ALL FORMS OF GOSPEL MUSIC, PROVIDING EDUCATIONAL RESOURCES THAT ENCOURAGE PARTICIPATION AND APPRECIATION.

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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 (2024)

Revenue Breakdown

Contributions & Grants $6,546,727

Program Service Revenue $0

Investment Income $223,231

Other Revenue $57

TOTAL REVENUE $6,770,015

Expense Breakdown

Grants Paid $3,715,913

Salaries & Benefits $79,495

Fundraising Expenses $0

Program Expenses $4,238,296

Other Expenses $465,561

TOTAL EXPENSES $4,260,969

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,770,015	$965,653	+6.0%
Expenses	$4,260,969	$243,838	+16.5%
Net Income	$2,509,046	$721,815	+2.5%

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
MARC ACKERMAN	EXECUTIVE CO	2.00	Officer Director	$0	$0	$0
MARY BRANDES	DIRECTOR	2.00	Director	$0	$0	$0
DALE BRANTNER	DIRECTOR	2.00	Director	$0	$0	$0
WES CAMPBELL	DIRECTOR	2.00	Director	$0	$0	$0
ALLEN CARR	SECRETARY	2.00	Officer Director	$0	$0	$0
MAMIE COLEMAN	DIRECTOR	2.00	Director	$0	$0	$0
WENDY MILLER DEGOLIA	DIRECTOR	2.00	Director	$0	$0	$0
CHARLES DORRIS	DIRECTOR	2.00	Director	$0	$0	$0
EDWARD ESCHLEMAN	DIRECTOR	2.00	Director	$0	$0	$0
TERRY HEMMINGS	DIRECTOR	2.00	Director	$0	$0	$0
GENE KRCELIC	DIRECTOR	2.00	Director	$0	$0	$0
RHONDA LOWRY	EXECUTIVE CO	2.00	Officer Director	$0	$0	$0
MICHAEL MILLER	TREASURER	2.00	Officer Director	$0	$0	$0
BRAD O'DONNELL	DIRECTOR	2.00	Director	$0	$0	$0
CARL PERSON	DIRECTOR	2.00	Director	$0	$0	$0
HUDSON PLACHY	DIRECTOR	2.00	Director	$0	$0	$0
PAUL SIZELOVE	DIRECTOR	2.00	Director	$0	$0	$0
CARY VAUGHN	DIRECTOR	2.00	Director	$0	$0	$0
ZACH WAMP	EXECUTIVE CO	2.00	Officer Director	$0	$0	$0
DENNIS DISNEY	ATTORNEY	2.00	Officer	$0	$0	$0
ROY MORGAN	EXECUTIVE CO	2.00	Officer	$0	$0	$0
JACKIE PATILLO	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	$6,770,015	$4,260,969	$7,180,291	$2,509,046
2023	$4,245,401	$516,461	$4,017,445	$3,728,940
2023	$1,028,235	$243,838	$4,801,842	$784,397
2023	$965,653	$243,838	$4,671,245	$721,815
2022	$226,504	$374,819	$276,965	$-148,315
2021	$433,189	$211,664	$425,280	$221,525
2019	$396,204	$295,851	$219,943	$100,353

GOSPEL MUSIC ASSOCIATION INC