Praise Network, Inc.

The information on this page was last updated 11/17/2023. 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:
The 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: Danny Myers

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

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 rating56 of 11022 of 28
Fund acquisition rating288 of 11037 of 28
Resource allocation rating202 of 11038 of 28
Asset utilization rating87 of 11023 of 28

Financial ratios

Funding ratiosSector median20232022202020192018
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
6%3%4%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
86%66%60%62%58%60%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
7%2%2%2%2%2%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
14%34%40%38%42%40%
 
Operating ratiosSector median20232022202020192018
Program expense ratio Program expense ratio =
Program services /
Total expenses
78%81%84%84%84%80%
Spending ratio Spending ratio =
Total expenses /
Total revenue
93%93%102%110%99%96%
Program output ratio Program output ratio =
Program services /
Total revenue
69%75%86%92%84%77%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
7%7%-2%-10%1%4%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
6%11%-5%-21%1%7%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
16%16%14%14%14%18%
 
Investing ratiosSector median20232022202020192018
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.361.191.902.061.531.42
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.931.861.441.902.362.81
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
0.882.212.723.923.624.00
 
Liquidity ratiosSector median20232022202020192018
Current ratio Current ratio =
Total current assets /
Total current liabilities
17.249.597.246.915.853.95
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.060.100.140.140.170.25
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
13.204.853.802.622.752.24
 
Solvency ratiosSector median20232022202020192018
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
10%15%11%8%7%9%
Debt ratio Debt ratio =
Debt /
Total assets
0%9%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
223%72%47%45%61%64%

Financials

Balance sheet
 
Assets20232022202020192018
Cash$505,375$385,876$303,726$284,792$240,098
Receivables, inventories, prepaids$40,524$45,058$27,656$34,906$32,031
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$545,899$430,934$331,382$319,698$272,129
Long-term investments$0$0$0$0$0
Fixed assets$291,793$169,963$276,319$292,977$314,409
Other long-term assets$178,710$17,920$21,534$143,395$177,216
Total long-term assets$470,503$187,883$297,853$436,372$491,625
Total assets$1,016,402$618,817$629,235$756,070$763,754
 
Liabilities20232022202020192018
Payables and accrued expenses$0$3,970$1,965$11,803$17,708
Other current liabilities$56,931$55,543$46,010$42,890$51,117
Total current liabilities$56,931$59,513$47,975$54,693$68,825
Debt$87,490$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$5,868$5,747$719$3$207
Total long-term liabilities$93,358$5,747$719$3$207
Total liabilities$150,289$65,260$48,694$54,696$69,032
 
Net assets20232022202020192018
Without donor restrictions$847,445$553,557$580,541$701,374$540,122
With donor restrictions$18,668$0$0$0$154,600
Net assets$866,113$553,557$580,541$701,374$694,722
 
Revenues and expenses
 
Revenue20232022202020192018
Total contributions$857,057$687,961$732,582$676,212$683,347
Program service revenue$446,858$466,773$442,987$469,002$449,864
Membership dues$0$0$0$0$0
Investment income$2,059($6,782)$1,918$1,211$132
Other revenue$0$0$259$18,380$0
Total other revenue$448,917$459,991$445,164$488,593$449,996
Total revenue$1,305,974$1,147,952$1,177,746$1,164,805$1,133,343
 
Expenses20232022202020192018
Program services$982,686$982,064$1,088,509$974,825$871,132
Management and general$198,907$167,211$185,823$162,812$196,998
Fundraising$27,553$24,402$24,247$20,516$19,557
Total expenses$1,209,146$1,173,677$1,298,579$1,158,153$1,087,687
 
Change in net assets20232022202020192018
Surplus (deficit)$96,828($25,725)($120,833)$6,652$45,656
Other changes in net assets$0$0$0$0$0
Total change in net assets$96,828($25,725)($120,833)$6,652$45,656

Compensation

NameTitleCompensation
Alex McKenziePresident$105,300

Compensation data as of: 5/31/2023


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 11/17/2023. To update the information below, please email: [email protected]


History


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