GOSPEL RECORDINGS INC

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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

1943

Legal Domicile

Principal Officer

PRESTON KORN

Phone

5203951399

Tax Period

2025-01-01 to 2025-12-31

GOSPEL RECORDINGS INC, founded in 1943, is a community nonprofit in the Religion sector that reported $2.7M in total revenue in fiscal year 2025. Revenue surged 43% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.3M, a strong 48% operating margin.

Mission

IN PARTNERSHIP WITH THE CHURCH, TO EFFECTIVELY COMMUNICATE THE GOOD NEWS OF JESUS CHRIST BY MEANS OF CULTURALLY APPROPRIATE AUDIO AND AUDIO-VISUAL MATERIALS IN EVERY LANGUAGE.

Program Service Accomplishments

Program 1

Expenses: $897,502

GOSPEL RECORDINGS, INC DBA GLOBAL RECORDINGS NETWORK (GRN) IS THE FOUNDING PARTNER IN THE WORLDWIDE FELLOWSHIP OF GRN CENTERS AND BASES IN OVER 40 COUNTRIES.THE USA CENTER DISTRIBUTED THOUSANDS OF...

GOSPEL RECORDINGS, INC DBA GLOBAL RECORDINGS NETWORK (GRN) IS THE FOUNDING PARTNER IN THE WORLDWIDE FELLOWSHIP OF GRN CENTERS AND BASES IN OVER 40 COUNTRIES.THE USA CENTER DISTRIBUTED THOUSANDS OF FREE RECORDINGS THROUGH THE ONLINE APP; 5FISH, CDS, SD CARDS, THUMB DRIVES, MP3 PLAYERS, OTHER AUDIO DEVICES AND FACE TO FACE. THE GRN NETWORK ADDED RECORDINGS IN OVER 150 DIFFERENT LANGUAGES AND DIALECTS FROM AROUND THE WORLD ADDING TO ITS 6700 LANGUAGE VARIETIES RECORDED. IN 2025 SEVERAL MILLION HOURS OF RECORDED GOSPEL MESSAGES WERE DOWNLOADED FROM GRN SERVERS OVER THE INTERNET.

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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 (2025)

Revenue Breakdown

Contributions & Grants $2,273,577

Program Service Revenue $0

Investment Income $401,559

Other Revenue $0

TOTAL REVENUE $2,675,136

Expense Breakdown

Grants Paid $199,381

Salaries & Benefits $813,091

Fundraising Expenses $210,031

Program Expenses $897,502

Other Expenses $377,008

TOTAL EXPENSES $1,389,480

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,675,136	$1,864,840	+0.4%
Expenses	$1,389,480	$1,197,705	+0.2%
Net Income	$1,285,656	$667,135	+0.9%

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

Governance

Voting Members

Independent Members

Employees

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

$15,334

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID OVERSTREET	SECRETARY	6.00	Officer	$10,000	$0	$10,000
BRYAN WILSON	EXECUTIVE DIRECTOR USA	40.00	Officer	$5,334	$0	$5,334
LAURA M GARDNER	MEMBER	2.00	Director	$0	$0	$0
BILL CORNTHWAITE Jr	VICE CHAIR	3.00	Officer	$0	$0	$0
MARK PEARSEY	TREASURER	4.00	Officer	$0	$0	$0
PRESTON KORN	BOARD CHAIR	4.00	Officer	$0	$0	$0
MACK TIMM	SECRETARY	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
2025	$2,675,136	$1,389,480	$5,554,390	$1,285,656
2024	$1,864,840	$1,197,705	$4,194,911	$667,135
2023	$1,476,314	$1,178,089	$3,502,173	$298,225
2022	$1,107,864	$1,152,877	$2,857,295	$-45,013
2021	$2,974,192	$1,160,569	$3,171,654	$1,813,623
2020	$1,066,671	$1,092,451	$2,090,287	$-25,780
2019	$1,281,695	$1,223,478	$2,201,120	$58,217
2018	$1,381,031	$1,497,231	$2,218,948	$-116,200