New Life Studios Inc
- Assets
- $231.8k
- Revenue
- $301.5k
- Investments
- $0.0
- Employees
- 10
- Location
- Jamestown, TN
- Founding
- 06/2011
- Data as of
- 12/2022
- EIN
- 27-1967652
Organization Overview
New Life Studios Inc is located in Jamestown, TN. The organization was established in 2011. According to its NTEE Classification (A34) the organization is classified as: Radio, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, New Life Studios Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Life Studios Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, New Life Studios Inc generated $301.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $250.2k during the year ending 12/2022. While expenses have increased by 0.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES GOSPEL RADIO STATIONS THAT PORMOTES THE SPREADING OF THE GOSPEL BY MUSIC AND PROGRAMMING
Describe the Organization's Program Activity:
Part 3 - Line 4a
BROADCATING GOSPEL MUSIC AND PROGRAMMING PROMOTING COMMUNITY SUPPORT AND UNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brenda Allred Board Member | Trustee | $0 | |
Brenda L Allred Board Member | Trustee | 2 | $0 |
Baley F Allred III Board Member | Trustee | $0 | |
Randy Jones Board Member | Trustee | $0 | |
Ralph Sexton Jr Board Member | Trustee | $0 | |
Paul Martin Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $192,549 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $192,549 |
| Total Program Service Revenue | $108,982 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $301,531 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $113,794 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,645 |
| Payroll taxes | $9,762 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $728 |
| Fees for services: Accounting | $1,015 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $152 |
| Advertising and promotion | $2,806 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,358 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $974 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,565 |
| Insurance | $0 |
| All other expenses | $44,166 |
| Total functional expenses | $250,176 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187,721 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,840 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $10,241 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $231,802 |
| Accounts payable and accrued expenses | $2,433 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,707 |
| Total liabilities | $6,140 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $225,662 |
| Total liabilities and net assets/fund balances | $231,802 |