Praise Network, Inc. 
The information on this page was last updated 10/15/2024. 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
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Radio/ TV Stations
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 59 of 1110 | 3 of 32 |
| Fund acquisition rating | | 253 of 1111 | 10 of 32 |
| Resource allocation rating | | 161 of 1111 | 8 of 32 |
| Asset utilization rating | | 101 of 1110 | 3 of 32 |
Financial ratios
| Funding ratios | Sector median | 2024 | 2023 | 2022 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 6% | 3% | 3% | 4% | 3% | 3% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 6% | 2% | 2% | 2% | 2% | 2% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 82% | 63% | 66% | 60% | 62% | 58% |
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 | 18% | 37% | 34% | 40% | 38% | 42% |
| Operating ratios | Sector median | 2024 | 2023 | 2022 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 78% | 83% | 81% | 84% | 84% | 84% |
Spending ratio Spending ratio = Total expenses / Total revenue | 100% | 100% | 93% | 102% | 110% | 99% |
Program output ratio Program output ratio = Program services / Total revenue | 76% | 83% | 75% | 86% | 92% | 84% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 0% | 0% | 7% | -2% | -10% | 1% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | -1% | 1% | 11% | -5% | -21% | 1% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 15% | 15% | 16% | 14% | 14% | 14% |
| Investing ratios | Sector median | 2024 | 2023 | 2022 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.46 | 1.28 | 1.19 | 1.90 | 2.06 | 1.53 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.89 | 1.96 | 1.86 | 1.44 | 1.90 | 2.36 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.03 | 2.51 | 2.21 | 2.72 | 3.92 | 3.62 |
| Liquidity ratios | Sector median | 2024 | 2023 | 2022 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 15.63 | 5.91 | 9.59 | 7.24 | 6.91 | 5.85 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.06 | 0.17 | 0.10 | 0.14 | 0.14 | 0.17 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 10.91 | 3.97 | 4.85 | 3.80 | 2.62 | 2.75 |
| Solvency ratios | Sector median | 2024 | 2023 | 2022 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 13% | 17% | 15% | 11% | 8% | 7% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 8% | 9% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 163% | 65% | 72% | 47% | 45% | 61% |
Financials
| Balance sheet | |||||
| Assets | 2024 | 2023 | 2022 | 2020 | 2019 |
| Cash | $496,443 | $505,375 | $385,876 | $303,726 | $284,792 |
| Receivables, inventories, prepaids | $12,970 | $40,524 | $45,058 | $27,656 | $34,906 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $509,413 | $545,899 | $430,934 | $331,382 | $319,698 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $308,629 | $291,793 | $169,963 | $276,319 | $292,977 |
| Other long-term assets | $178,710 | $178,710 | $17,920 | $21,534 | $143,395 |
| Total long-term assets | $487,339 | $470,503 | $187,883 | $297,853 | $436,372 |
| Total assets | $996,752 | $1,016,402 | $618,817 | $629,235 | $756,070 |
| Liabilities | 2024 | 2023 | 2022 | 2020 | 2019 |
| Payables and accrued expenses | $51,902 | $0 | $3,970 | $1,965 | $11,803 |
| Other current liabilities | $34,363 | $56,931 | $55,543 | $46,010 | $42,890 |
| Total current liabilities | $86,265 | $56,931 | $59,513 | $47,975 | $54,693 |
| Debt | $81,865 | $87,490 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $5,868 | $5,747 | $719 | $3 |
| Total long-term liabilities | $81,865 | $93,358 | $5,747 | $719 | $3 |
| Total liabilities | $168,130 | $150,289 | $65,260 | $48,694 | $54,696 |
| Net assets | 2024 | 2023 | 2022 | 2020 | 2019 |
| Without donor restrictions | $828,622 | $847,445 | $553,557 | $580,541 | $701,374 |
| With donor restrictions | $0 | $18,668 | $0 | $0 | $0 |
| Net assets | $828,622 | $866,113 | $553,557 | $580,541 | $701,374 |
| Revenues and expenses | |||||
| Revenue | 2024 | 2023 | 2022 | 2020 | 2019 |
| Total contributions | $809,615 | $857,057 | $687,961 | $732,582 | $676,212 |
| Program service revenue | $468,076 | $446,858 | $466,773 | $442,987 | $469,002 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $4,176 | $2,059 | ($6,782) | $1,918 | $1,211 |
| Other revenue | $0 | $0 | $0 | $259 | $18,380 |
| Total other revenue | $472,252 | $448,917 | $459,991 | $445,164 | $488,593 |
| Total revenue | $1,281,867 | $1,305,974 | $1,147,952 | $1,177,746 | $1,164,805 |
| Expenses | 2024 | 2023 | 2022 | 2020 | 2019 |
| Program services | $1,059,237 | $982,686 | $982,064 | $1,088,509 | $974,825 |
| Management and general | $195,806 | $198,907 | $167,211 | $185,823 | $162,812 |
| Fundraising | $22,638 | $27,553 | $24,402 | $24,247 | $20,516 |
| Total expenses | $1,277,681 | $1,209,146 | $1,173,677 | $1,298,579 | $1,158,153 |
| Change in net assets | 2024 | 2023 | 2022 | 2020 | 2019 |
| Surplus (deficit) | $4,186 | $96,828 | ($25,725) | ($120,833) | $6,652 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $4,186 | $96,828 | ($25,725) | ($120,833) | $6,652 |
Compensation
| Name | Title | Compensation |
| Alex McKenzie | President | $111,640 |
Compensation data as of: 5/31/2024
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 10/15/2024. To update the information below, please email: [email protected]