Praise Network, Inc./ Herb Roszhart

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. This organization is a nonprofit. Contributions to it are fully tax deductible to the extent allowed by law. It is a member of the Evangelical Council for Financial Accountability (ECFA).


Contact information

Mailing address:
PO Box 8
732 Turtle Beach, Marquette NE 68854
Aurora, NE 68818-8818

Website: www.praisenetwork.org

Phone: (308) 946-2656

Email: roszhart@hamilton.net


Organization details

EIN: 470716006

CEO/President: Mr. Lloyd Mintzmyer

Chairman: Mr. Herb Roszhart

Board size: 10

Founder: Mr. Herb Roszhart

Year founded: 1988

Tax deductible: Yes

Fiscal year end: 05/31

Member of ECFA: Yes

Member of ECFA since: 1995


Purpose

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. This organization is a nonprofit. Contributions to it are fully tax deductible to the extent allowed by law. It is a member of the Evangelical Council for Financial Accountability (ECFA).


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

Financial efficiency ratings

Sector: Radio/ TV Stations

CategoryRatingOverall rankSector rank
Overall efficiency rating193 of 4303 of 16
Fund acquisition rating120 of 4303 of 16
Resource allocation rating263 of 4308 of 16
Asset utilization rating230 of 4305 of 16

Financial ratios

Funding ratiosMedian % for
all ministries in
MW database
20182017201620152014
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
7%3%3%3%3%2%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
6%2%2%2%2%1%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
95%60%60%59%63%57%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%2%2%2%2%1%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
5%40%40%41%37%43%
 
Operating ratiosMedian % for
all ministries in
MW database
20182017201620152014
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%80%79%80%80%81%
Spending ratio Spending ratio =
Total expenses /
Total revenue
99%96%98%95%97%94%
Program output ratio Program output ratio =
Program services /
Total revenue
81%77%78%76%77%76%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
1%4%2%5%3%6%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%7%4%9%7%14%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
10%18%19%18%19%18%
 
Investing ratiosMedian measure
for all ministries
in MW database
20182017201620152014
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.321.421.631.561.481.54
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.532.814.075.255.026.97
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.534.006.658.177.4510.72
 
Liquidity ratiosMedian measure
for all ministries
in MW database
20182017201620152014
Current ratio Current ratio =
Total current assets /
Total current liabilities
9.103.952.772.532.702.19
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.100.250.360.400.370.46
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.062.241.150.891.010.61
 
Solvency ratiosMedian % for
all ministries in
MW database
20182017201620152014
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
10%9%9%15%25%28%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%7%18%20%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
64%64%56%55%50%47%

Financials

Balance sheet
 
Assets20182017201620152014
Cash$240,098$136,742$102,172$115,169$73,216
Receivables, inventories, prepaids$32,031$38,077$37,288$35,616$31,467
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$272,129$174,819$139,460$150,785$104,683
Long-term investments$0$0$0$0$0
Fixed assets$314,409$326,403$347,530$328,090$312,233
Other long-term assets$177,216$211,037$244,858$278,679$312,500
Total long-term assets$491,625$537,440$592,388$606,769$624,733
Total assets$763,754$712,259$731,848$757,554$729,416
 
Liabilities20182017201620152014
Payables and accrued expenses$17,708$15,703$13,278$19,834$14,778
Other current liabilities$51,117$47,430$41,932$35,972$33,012
Total current liabilities$68,825$63,133$55,210$55,806$47,790
Debt$0$0$53,759$134,016$147,677
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$207$60$52$1,272$5,910
Total long-term liabilities$207$60$53,811$135,288$153,587
Total liabilities$69,032$63,193$109,021$191,094$201,377
 
Net assets20182017201620152014
Unrestricted$540,122$492,966$465,227$407,360$367,439
Temporarily restricted$154,600$156,100$157,600$159,100$160,600
Permanently restricted$0$0$0$0$0
Net assets$694,722$649,066$622,827$566,460$528,039
 
Revenues and expenses
 
Revenue20182017201620152014
Total contributions$683,347$717,064$710,588$736,101$685,502
Program service revenue$449,864$472,117$484,573$425,222$430,502
Membership dues$0$0$0$0$0
Investment income$132$41$12$10$80,627
Other revenue$0$0$0$0$0
Total other revenue$449,996$472,158$484,585$425,232$511,129
Total revenue$1,133,343$1,189,222$1,195,173$1,161,333$1,196,631
 
Expenses20182017201620152014
Program services$871,132$923,910$912,669$894,969$907,375
Management and general$196,998$218,530$205,503$208,011$200,392
Fundraising$19,557$20,543$20,634$19,932$14,130
Total expenses$1,087,687$1,162,983$1,138,806$1,122,912$1,121,897
 
Change in net assets20182017201620152014
Surplus (deficit)$45,656$26,239$56,367$38,421$74,734
Other changes in net assets$0$0$0$0$0
Total change in net assets$45,656$26,239$56,367$38,421$74,734

Response from ministry

No response has been provided by this ministry.


History


Program accomplishments


Needs