Praise Network, Inc./ Herb Roszhart

The information on this page was last updated 1/24/2022. If you see errors or omissions, please email: [email protected]


Summary

Praise Network, Inc. (PNI) operates five Christian radio stations located in O'Neill, Norfolk, and Columbus, Nebraska, and Hays and Goodland, Kansas. PNI was formed in 1988 with the purpose of ministering to radio listeners of religious radio stations with programs of selected Christian music, biblical instruction, and other religious programs that encourage spiritual growth according to Christian principles. PNI purchases time on selected radio stations with the rate paid based on a percentage of contributions received from listeners of that station up to a specified limit. In addition, PNI produces tapes of programs to be provided to the stations. The purchase of stations is supported by contributions from the listening audience and from others interested in supporting the ministry.


Contact information

Mailing address:
Praise Network, Inc.
128 South 4th Street
O'Neill, NE 68763

Website: www.praisenetwork.org

Phone: (402)-336-1230

Email: [email protected]


Organization details

EIN: 470716006

CEO/President: Alex McKenzie

Chairman: Steve Busskohl

Board size: 6

Founder: Mr. Herb Roszhart

Ruling year: 1988

Tax deductible: Yes

Fiscal year end: 05/31

Member of ECFA: No

Member of ECFA since:


Purpose

We want more people to know about Jesus and not just to know things about Him, but to really know Him. That's why we program our stations with a strong balance of encouraging music and Bible teaching programs. We hope through the outreach of all our stations people will both come to know Christ, and walk along side us as we learn to live like Him in our daily lives.


Mission statement

The Praise Network, Inc. uses the following to express its mission:

Every endeavor will be toward glorifying God and turning hearts toward Christ through programs of instruction, information, and inspiration.


Statement of faith

We hold firmly to the irreducible roots of Christianity.

We believe the Bible to be inspired, the only infallible, authoritative Word of God.

We believe that there is one God, eternally existent in three Persons, Father, Son and Holy Ghost.

We believe in the deity of Christ, in His virgin birth, in His sinless life, in His miracles, in His vicarious and atoning death through His shed blood, in His bodily resurrection, in His ascension to the right hand of the Father, and in His personal return in power and glory.

We believe that for salvation of lost and sinful men, regeneration by the Holy Spirit is absolutely essential.

We believe in the present ministry of the Holy Spirit, by whose indwelling the Christian is enabled to live a godly life.

We believe in the resurrection of both the saved and the lost, they that are saved unto the resurrection of life and they that are lost unto the resurrection of damnation.

We believe in the spiritual unity of believers in Christ.

Donor confidence score

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Transparency grade

D

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Radio/ TV Stations

CategoryRatingOverall rankSector rank
Overall efficiency rating77 of 10333 of 32
Fund acquisition rating323 of 103511 of 32
Resource allocation rating237 of 10359 of 32
Asset utilization rating53 of 10334 of 32

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
6%3%3%3%3%3%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
5%2%2%2%2%2%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
91%62%58%60%60%59%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%2%2%2%2%2%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
9%38%42%40%40%41%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
80%84%84%80%79%80%
Spending ratio Spending ratio =
Total expenses /
Total revenue
93%110%99%96%98%95%
Program output ratio Program output ratio =
Program services /
Total revenue
73%92%84%77%78%76%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
7%-10%1%4%2%5%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
5%-21%1%7%4%9%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
14%14%14%18%19%18%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.542.061.531.421.631.56
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.911.902.362.814.075.25
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.253.923.624.006.658.17
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
12.996.915.853.952.772.53
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.070.140.170.250.360.40
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
8.992.622.752.241.150.89
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
5%8%7%9%9%15%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%7%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
158%45%61%64%56%55%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$303,726$284,792$240,098$136,742$102,172
Receivables, inventories, prepaids$27,656$34,906$32,031$38,077$37,288
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$331,382$319,698$272,129$174,819$139,460
Long-term investments$0$0$0$0$0
Fixed assets$276,319$292,977$314,409$326,403$347,530
Other long-term assets$21,534$143,395$177,216$211,037$244,858
Total long-term assets$297,853$436,372$491,625$537,440$592,388
Total assets$629,235$756,070$763,754$712,259$731,848
 
Liabilities20202019201820172016
Payables and accrued expenses$1,965$11,803$17,708$15,703$13,278
Other current liabilities$46,010$42,890$51,117$47,430$41,932
Total current liabilities$47,975$54,693$68,825$63,133$55,210
Debt$0$0$0$0$53,759
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$719$3$207$60$52
Total long-term liabilities$719$3$207$60$53,811
Total liabilities$48,694$54,696$69,032$63,193$109,021
 
Net assets20202019201820172016
Without donor restrictions$580,541$701,374$540,122$492,966$465,227
With donor restrictions$0$0$154,600$156,100$157,600
Net assets$580,541$701,374$694,722$649,066$622,827
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$732,582$676,212$683,347$717,064$710,588
Program service revenue$442,987$469,002$449,864$472,117$484,573
Membership dues$0$0$0$0$0
Investment income$1,918$1,211$132$41$12
Other revenue$259$18,380$0$0$0
Total other revenue$445,164$488,593$449,996$472,158$484,585
Total revenue$1,177,746$1,164,805$1,133,343$1,189,222$1,195,173
 
Expenses20202019201820172016
Program services$1,088,509$974,825$871,132$923,910$912,669
Management and general$185,823$162,812$196,998$218,530$205,503
Fundraising$24,247$20,516$19,557$20,543$20,634
Total expenses$1,298,579$1,158,153$1,087,687$1,162,983$1,138,806
 
Change in net assets20202019201820172016
Surplus (deficit)($120,833)$6,652$45,656$26,239$56,367
Other changes in net assets$0$0$0$0$0
Total change in net assets($120,833)$6,652$45,656$26,239$56,367

Compensation

NameTitleCompensation
Alex McKenziePresident/Director$100,000

Compensation data as of: 5/31/2020


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 1/24/2022. To update the information below, please email: [email protected]


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