Gospel Music Trust Fund Inc
- Assets
- $3.1m
- Revenue
- $659.6k
- Investments
- $3.0m
- Employees
- 0
- Location
- Brentwood, TN
- Founding
- 01/1986
- Data as of
- 12/2021
- EIN
- 58-1647495
Organization Overview
Gospel Music Trust Fund Inc is located in Brentwood, TN. The organization was established in 1986. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gospel Music Trust Fund 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 12/2021, Gospel Music Trust Fund Inc generated $659.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $140.4k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Gospel Music Trust Fund Inc has awarded 72 individual grants totaling $802,883. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roland Lundy President | 0 | $0 | |
Gerald Wolfe Trustee | 0 | $0 | |
Paul Sizelove Trustee | 0 | $0 | |
Roger Holmes Trustee | 0 | $0 | |
Bill Gaither Vice Preside | 0 | $0 | |
Jackie Patillo Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $17,001 |
| Interest on Savings | $14 |
| Dividends & Interest | $99,320 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $543,266 |
| Capital Gain Net Income | $543,266 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $659,601 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $985 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,893 |
| Total operating and administrative expenses | $38,148 |
| Contributions, gifts, grants paid | $102,298 |
| Total expenses and disbursements | $140,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,622 |
| Savings and temporary cash investments | $87,135 |
| Net Accounts receivable | $3,748 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,990,073 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,144,578 |
| Accounts payable and accrued expenses | $985 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $985 |
Grants Awarded
Over the last fiscal year, Gospel Music Trust Fund Inc has awarded $102,298 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Franklin, TN PURPOSE: SUPPORT | $44,700 |
MUSIC HEALTH ALLIANCE PURPOSE: MEDICAL | $40,000 |
VARIOUS OTHER INDIVIDUAL DONATIONS PURPOSE: SUPPORT | $12,498 |
MR DE ORO LLC PURPOSE: SUPPORT | $5,100 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Gospel Music Trust Fund Inc has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
Moseley Foundation Brentwood, TN PURPOSE: CHARITABLE GIFT | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Greater Charlotte Cultural Trust Charlotte, NC | $173,742,321 | $2,357,736 |
Fund For The Arts Inc Louisville, KY | $9,833,007 | $6,108,558 |
Virginia Foundation For The Humanities And Public Policy Charlottesville, VA | $13,497,972 | $6,667,303 |
Gwinnett Championship Foundation Inc Duluth, GA | $476,337 | $4,123,025 |
Americans For Public Trust Alexandria, VA | $249,074 | $3,628,537 |
Richard J Stern Foundation For The Arts Kansas City, MO | $50,258,336 | $4,476,999 |
Cobb Community Foundation Inc Atlanta, GA | $18,425,025 | $3,579,591 |
Memphis Museums Inc Memphis, TN | $7,243,926 | $3,293,679 |
Artsbuild Chattanooga, TN | $20,819,407 | $7,133,514 |
William R Kenan Jr Fund For The Arts Chapel Hill, NC | $30,178,263 | $1,461,510 |
Chesterfield Cultural Arts Foundation Chester, VA | $1,189,257 | $621,062 |
Community Capital Fund Kansas City, MO | $1,497,991 | $1,400,960 |