Gospel Music Hymn Sing Foundation Incorporated

Analysis

Gospel Music Hymn Sing Foundation Incorporated is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in October 2017, 9 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending January 2024, Gospel Music Hymn Sing Foundation Incorporated reported income of $452k and spending of $443k, spending 98% of its income. Across the 5 years on record, from January 2020 to January 2024, income grew from $315k to $452k (+44%), an average of +9.5% a year. The sharpest change came in the year to January 2023, when income rose by 64%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Gospel Music Hymn Sing Foundation Incorporated sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 70th percentile within TN. Charities of a similar size with the same main cause include Lovejoy Fine Arts Inc ($452k), Friends of FM 90 ($452k) and Diverse Works Inc ($452k).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 36% and program service revenue 64% of the total. At year end it held assets of $256k against liabilities of $0, net assets of $256k.