New Song Ministries
The information on this page was last updated 6/3/2024. If you see errors or omissions, please email: [email protected]
Summary
Puts on Winter Jam Christian concert series
Contact information
Mailing address:
New Song Ministries
825 Smith Road
Ball Ground, GA 30107
Website: jamtour.com
Phone: (678) 938-0435
Email: [email protected]
Organization details
EIN: 581449159
CEO/President: Eddie Carswell
Chairman:
Board size: 0
Founder: Eddie Carswell
Ruling year: 1982
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
Puts on Winter Jam Tour and XTreme Winter Conferences
Mission statement
A Christian music ministry sharing the Gospel message through concert performance in small and large venues.
Statement of faith
Donor confidence score
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Evangelism
This ministry has not been rated.
Financial ratios
| Funding ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 7% | 0% | 0% | 0% | 0% | 0% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 7% | 0% | 0% | 0% | 0% | 0% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 97% | 0% | 0% | 0% | 0% | 0% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 6% | 0% | 0% | 0% | 0% | 0% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 3% | 100% | 100% | 100% | 100% | 100% |
| Operating ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Program expense ratio Program expense ratio = Program services / Total expenses | 82% | 100% | 100% | 100% | 100% | 100% |
Spending ratio Spending ratio = Total expenses / Total revenue | 99% | 97% | 214% | 103% | 105% | 108% |
Program output ratio Program output ratio = Program services / Total revenue | 78% | 97% | 214% | 103% | 105% | 108% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 1% | 3% | -114% | -3% | -5% | -8% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 1% | 86% | -3046% | -163% | -209% | -124% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 11% | 0% | 0% | 0% | 0% | 0% |
| Investing ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 1.11 | 10.59 | 5.04 | 12.05 | 15.09 | 10.22 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.47 | 1.00 | 1.00 | 1.00 | 1.00 | 1.02 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 2.24 | 10.59 | 5.04 | 12.06 | 15.11 | 10.47 |
| Liquidity ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Current ratio Current ratio = Total current assets / Total current liabilities | 11.28 | 1.60 | 1.10 | 1.23 | 1.55 | 2.73 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.09 | 0.63 | 0.91 | 0.81 | 0.64 | 0.37 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 4.62 | 0.42 | 0.21 | 0.19 | 0.28 | 0.73 |
| Solvency ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 10% | 63% | 91% | 81% | 64% | 36% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 70% | 4% | 2% | 2% | 2% | 6% |
Financials
| Balance sheet | |||||
| Assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Cash | $1,272,874 | $846,741 | $1,053,400 | $1,023,823 | $1,708,766 |
| Receivables, inventories, prepaids | $55,806 | $55,456 | $51,056 | $58,959 | $105,137 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $1,328,680 | $902,197 | $1,104,456 | $1,082,782 | $1,813,903 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $0 | $269 | $806 | $1,343 | $44,277 |
| Other long-term assets | $0 | $0 | $0 | $0 | $0 |
| Total long-term assets | $0 | $269 | $806 | $1,343 | $44,277 |
| Total assets | $1,328,680 | $902,466 | $1,105,262 | $1,084,125 | $1,858,180 |
| Liabilities | 2022 | 2021 | 2020 | 2019 | 2018 |
| Payables and accrued expenses | $832,286 | $823,033 | $896,038 | $697,888 | $665,104 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $832,286 | $823,033 | $896,038 | $697,888 | $665,104 |
| Debt | $0 | $0 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 |
| Total long-term liabilities | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $832,286 | $823,033 | $896,038 | $697,888 | $665,104 |
| Net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Without donor restrictions | $0 | $0 | $0 | $0 | $0 |
| With donor restrictions | $0 | $0 | $0 | $0 | $0 |
| Net assets | $496,394 | $79,433 | $209,224 | $386,237 | $1,193,076 |
| Revenues and expenses | |||||
| Revenue | 2022 | 2021 | 2020 | 2019 | 2018 |
| Total contributions | $0 | $0 | $0 | $0 | $1,000 |
| Program service revenue | $14,502,433 | $2,130,506 | $12,982,574 | $15,548,984 | $17,479,010 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 | $0 | $974 |
| Other revenue | $0 | $0 | $0 | $0 | $23,676 |
| Total other revenue | $14,502,433 | $2,130,506 | $12,982,574 | $15,548,984 | $17,503,660 |
| Total revenue | $14,502,433 | $2,130,506 | $12,982,574 | $15,548,984 | $17,504,660 |
| Expenses | 2022 | 2021 | 2020 | 2019 | 2018 |
| Program services | $14,075,827 | $4,550,239 | $13,323,517 | $16,355,823 | $18,986,677 |
| Management and general | $0 | $0 | $0 | $0 | $0 |
| Fundraising | $0 | $0 | $0 | $0 | $0 |
| Total expenses | $14,075,827 | $4,550,239 | $13,323,517 | $16,355,823 | $18,986,677 |
| Change in net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Surplus (deficit) | $426,606 | ($2,419,733) | ($340,943) | ($806,839) | ($1,482,017) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $426,606 | ($2,419,733) | ($340,943) | ($806,839) | ($1,482,017) |
Compensation
| Name | Title | Compensation |
| Billy Goodwin | CFO | $377,834 |
| Eddie Carswell | CEO | $362,000 |
Compensation data as of: 6/30/2022
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 6/3/2024. To update the information below, please email: [email protected]