VISIBLE MUSIC COLLEGE

EIN: 621861520 501(c)(3) Education

MEMPHIS, TN

Total Revenue
$2,304,094
Total Expenses
$2,544,670
Total Assets
$9,368,122
Net Assets
$31,087
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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
2000
Legal Domicile
TN
Principal Officer
KEN STEORTS
Phone
9014624137
Tax Period
2024-07-01 to 2025-06-30

VISIBLE MUSIC COLLEGE, founded in 2000, is a community nonprofit in the Education sector that reported $2.3M in total revenue in fiscal year 2024. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $2.5M exceeded revenue, resulting in a 10% operating deficit.

Mission

VISIBLE MUSIC COLLEGE WILL TRAIN AND EQUIP ARTISTS, TECHNICIANS, AND BUSINESS PROFESSIONALS FOR SERVICE IN THE CHRISTIAN MUSIC INDUSTRY OR IN SERVICE TO A CHURCH.

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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 $464,668
Program Service Revenue $1,835,986
Investment Income $3,440
Other Revenue $0
TOTAL REVENUE $2,304,094

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,225,595
Fundraising Expenses $0
Program Expenses $1,499,390
Other Expenses $1,319,075
TOTAL EXPENSES $2,544,670

Year-over-Year Comparison

2024 2023 Change
Revenue $2,304,094 $4,155,831 -0.4%
Expenses $2,544,670 $5,570,929 -0.5%
Net Income $-240,576 $-1,415,098 -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

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Governance

Voting Members
9
Independent Members
9
Employees
69
Volunteers
N/A

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
3
$126,400
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEN STEORTS PRESIDENT 60.00
Officer
$126,400 $0 $126,400
PAULA BEASLEY CHAIR N/A
Officer Director
$0 $0 $0
MICHAEL COOPER DIRECTOR N/A
Director
$0 $0 $0
JOHN DUDAS DIRECTOR N/A
Director
$0 $0 $0
LEE GIBSON DIRECTOR N/A
Director
$0 $0 $0
CAMERON HARVEY DIRECTOR N/A
Director
$0 $0 $0
STEVE MCINTYRE DIRECTOR N/A
Director
$0 $0 $0
WILL NORRIS SECRETARY N/A
Officer Director
$0 $0 $0
TINA TILTON DIRECTOR N/A
Director
$0 $0 $0
SHEILA WHALUM DIRECTOR N/A
Director
$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 $2,304,094 $2,544,670 $9,368,122 $-240,576
2024 $4,155,831 $5,570,929 $9,605,884 $-1,415,098
2023 $4,711,667 $5,929,262 $9,599,198 $-1,217,595
2022 $5,534,233 $6,078,138 $10,569,871 $-543,905
2021 $4,938,373 $5,748,839 $10,671,207 $-810,466
2020 $3,800,869 $4,257,300 $10,764,035 $-456,431
2019 $4,047,590 $4,017,187 $10,833,809 $30,403
2018 $2,841,128 $3,593,602 $10,580,560 $-752,474
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