Gospel Music Association Inc

Analysis

Gospel Music Association Inc is a registered charity in United States, based in Franklin, TN. It received its IRS tax-exemption ruling in May 1972, 54 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, Gospel Music Association Inc reported income of $1.0m and spending of $244k, leaving 76% of income unspent that year. Across the 5 years on record, from September 2019 to December 2023, income grew from $396k to $1.0m (+160%), an average of +27% a year. The sharpest change came in the year to September 2023, when income rose by 1774%. Over the whole period it spent 26% 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 Association Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within TN. Charities of a similar size with the same main cause include Arlington Museum of Art Inc ($1.0m), Hmong Cultural Center of Butte County ($1.0m) and Umiyadham Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. At year end it held assets of $4.8m against liabilities of $0, net assets of $4.8m.