Form 990 for tax year 2023
Filed by STREAM OF PRAISE MUSIC MINISTRIES.
Totals
- Total revenue
- $2,812,749
- Total expenses
- $2,435,551
- Contributions and grants received
- $1,422,198
- Grants paid
- $109,913
- Program service revenue
- $834,018
- Investment income
- $5,262
- Other revenue
- $551,271
- Total assets, end of year
- $6,967,172
- Total liabilities, end of year
- $3,001,865
- Net assets or fund balances, end of year
- $3,965,307
- Program services expenses (Part IX)
- $1,955,195
- Management and general expenses
- $480,356
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,955,195
Program services were 80.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$1,422,198
-
2a · Program service revenue: MINISTRY SCHOOLS
total $50,806 · related or exempt $50,806
-
2b · Program service revenue: ROYALTY
total $21,780 · related or exempt $21,780
-
2c · Program service revenue: SERVICE INCOME
total $679,313 · related or exempt $679,313
-
2d · Program service revenue: TAIWAN ROYALTY TRANSFER
total $44,138 · related or exempt $44,138
-
2e · Program service revenue: WORSHIP SCHOOL
total $10,575 · related or exempt $10,575
-
2f · All other program service revenue
total $27,406 · related or exempt $27,406
-
3 · Investment income
total $5,262 · related or exempt $5,262
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$570,580
-
10b · Cost of goods sold
$19,309
-
10c · Net income from sales of inventory
total $551,271 · related or exempt $551,271
-
11a · Other revenue: OTHER INCOME
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $65,976 · program services $65,976
-
2 · Grants to domestic individuals
total $43,937 · program services $43,937
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $156,831 · management and general $156,831
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $959,909 · program services $959,909
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $69,757 · program services $69,757
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $2,130 · management and general $2,130
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $26,324 · management and general $26,324
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $67,932 · management and general $67,932
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $203,688 · program services $203,688
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $128,448 · management and general $128,448
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $161,177 · program services $161,177
-
23 · Insurance
total $97,918 · management and general $97,918
-
24a · Other expenses: PUBLISHING DEPT
total $163,149 · program services $163,149
-
24b · Other expenses: PRODUCTION DEPT
total $110,630 · program services $110,630
-
24c · Other expenses: AUDIO/RECORDING STUDIOS
total $44,120 · program services $44,120
-
24d · Other expenses: CREDIT CARDS ACCEPTANCE
total $29,228 · program services $29,228
-
24e · All other expenses
total $104,397 · program services $103,624 · management and general $773
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,782,729 · end of year $1,386,208
-
2 · Savings and temporary cash investments
beginning of year $309,358 · end of year $887,002
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $142,723 · end of year $123,489
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
beginning of year $38,252 · end of year $37,800
-
9 · Prepaid expenses and deferred charges
beginning of year $2,385 · end of year $1,617
-
10a · Land, buildings and equipment: cost or other basis
$6,318,377
-
10b · Land, buildings and equipment: accumulated depreciation
$1,796,962
-
10c · Land, buildings and equipment, net
beginning of year $4,567,570 · end of year $4,521,415
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
beginning of year $9,098 · end of year $8,641
-
15 · Other assets
beginning of year $1,000 · end of year $1,000
-
17 · Accounts payable and accrued expenses
beginning of year $105,674 · end of year $160,251
-
25 · Other liabilities
beginning of year $3,159,332 · end of year $2,841,614
-
31 · Retained earnings, endowment or other funds
beginning of year $3,588,109 · end of year $3,965,307
Mission and programs · 2023
Mission
TO REACH PEOPLE WITH THE GOSPEL OF CHRIST THRU MUSICAL CONCERTS IN US AND ASIAN COUNTRIES, TO PUBLISH MUSIC CD AND SONG BOOKS, AND TO HOST MUSIC SEMINARS.
Activities or mission (Part I)
TO REACH PEOPLE WITH THE GOSPEL OF CHRIST THRU MUSICAL CONCERTS IN US & ASIAN COUNTRIES, TO PUBLISH MUSIC CD AND SONG BOOKS, AND TO HOSE MUSIC SEMINARS.
-
PRODUCE AND DISTRIBUTE GOSPEL MUSIC TO PROMOTE BIBLICAL MESSAGE TO THE PUBLIC.
Expenses $1,955,195 · Grants $109,913 · Revenue $834,018
As filed on the 2023 return.
Listed in Part VII
-
Sandy YuSANDY YU
President
- Total calculated
- $78,600
- From this org
- $78,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Ely YaoELY YAO
Secretary
- Total calculated
- $78,231
- From this org
- $78,231
- From related orgs
- $0
- Other
- $0
- Hours/week
- 30
-
Timothy HuangTIMOTHY HUANG
Director
- Total calculated
- $0
- Hours/week
- 5
-
Steve SzeSTEVE SZE
Director
- Total calculated
- $0
- Hours/week
- 5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
-
$15,476
-
$13,760
-
$12,000
-
$7,740
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202402899349303060
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