Praise Ministries Inc
- Assets
- $105.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 4
- Location
- Lindale, TX
- Founding
- 03/1981
- Data as of
- 12/2022
- EIN
- 75-1724889
Organization Overview
Praise Ministries Inc is located in Lindale, TX. The organization was established in 1981. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Praise Ministries Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Praise Ministries 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, Praise Ministries Inc generated $179.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $168.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
PRAISE MINISTRIES, INC. SPREADS THE GOSPEL OF JESUS CHRIST THROUGH MUSIC AND WORD IN CONCERT HALLS AND CHURCHES THROUGHOUT THE UNITED STATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dallas Holm Pres/treas | 20 | $51,120 | |
Jennifer Koeshall Secretary | 40 | $20,713 | |
Ac Musgrave Director | 1 | $0 | |
Rick Mccrary Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $160,455 |
| Total Program Service Revenue | $6,445 |
| Membership dues | $0 |
| Investment income | $12,570 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $179,470 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $115,042 |
| Professional fees and other payments to independent contractors | $19,673 |
| Occupancy, rent, utilities, and maintenance | $12,436 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $20,918 |
| Total expenses | $168,069 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $65,641 |
| Other assets | $0 |
| Total assets | $105,175 |
| Total liabilities | $2,611 |
| Net assets or fund balances | $102,564 |