Southern Gospel Music Association Inc

Analysis

Southern Gospel Music Association Inc is a registered charity in United States, based in Sevierville, TN. It received its IRS tax-exemption ruling in June 1995, 31 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 December 2023, Southern Gospel Music Association Inc reported income of $196k and spending of $190k, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $104k to $196k (+88%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 394%. Over the whole period it spent 177% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Southern Gospel Music Association Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 54th percentile within TN. Charities of a similar size with the same main cause include American Ice Theatre Inc ($196k), Bridge Live Arts ($196k) and Lighthouse International Film Festival Inc ($196k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 103% of the total. Other salaries and wages came to $55k. At year end it held assets of $249k against liabilities of $1,635, net assets of $247k. It reported 1 employees.