Civic Intelligence

Visible Music College

990 • Fiscal year 2024 • EIN 62-1861520

Jul 01, 2023 to Jun 30, 2024 • Filed on Apr 17, 2025

Organization ProfileWWW.VISIBLE.EDU

View Organization Page

200 Madison AvenueMemphis, TN 38103

(901) 462-4137

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

94th percentile

1.02x

Higher debt load relative to assets than 94% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

92nd percentile

2.35x

Higher debt load relative to revenue than 92% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

9th percentile

-34%

Higher net margin than 9% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

34th percentile

0.1%

Faster asset growth than 34% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

19th percentile

-12%

Faster revenue growth than 19% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$9,605,884

Up $6,686 (+0.1%) from 2023

Net Assets

Down

-$152,491

Down $1,411,600 (-112%) from 2023

Liabilities

Up

$9,758,375

Up $1,418,286 (+17%) from 2023

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin9th percentile

Revenue

Down

$4,155,831

Down $555,836 (-12%) from 2023

Expenses

Down

$5,570,929

Down $358,333 (-6.0%) from 2023

Net Income

Down

-$1,415,098

Down $197,503 (-16%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0-$5.0MAssets 2010: $1,818,831Liabilities 2010: $436,058Net Assets 2010: $1,382,7732010Assets 2011: $2,933,933Liabilities 2011: $754,423Net Assets 2011: $2,179,5102011Assets 2012: $4,710,493Liabilities 2012: $2,664,920Net Assets 2012: $2,045,5732012Assets 2013: $5,476,051Liabilities 2013: $2,782,413Net Assets 2013: $2,693,6382013Assets 2014: $6,279,941Liabilities 2014: $3,584,884Net Assets 2014: $2,695,0572014Assets 2015: $7,206,513Liabilities 2015: $4,336,663Net Assets 2015: $2,869,8502015Assets 2016: $9,508,841Liabilities 2016: $5,071,112Net Assets 2016: $4,437,7292016Assets 2017: $10,808,630Liabilities 2017: $6,060,404Net Assets 2017: $4,748,2262017Assets 2018: $10,580,560Liabilities 2018: $6,584,808Net Assets 2018: $3,995,7522018Assets 2019: $10,833,809Liabilities 2019: $6,807,654Net Assets 2019: $4,026,1552019Assets 2020: $10,764,035Liabilities 2020: $7,194,311Net Assets 2020: $3,569,7242020Assets 2021: $10,671,207Liabilities 2021: $7,594,284Net Assets 2021: $3,076,9232021Assets 2022: $10,569,871Liabilities 2022: $8,102,686Net Assets 2022: $2,467,1852022Assets 2023: $9,599,198Liabilities 2023: $8,340,089Net Assets 2023: $1,259,1092023Assets 2024: $9,605,884Liabilities 2024: $9,758,375Net Assets 2024: -$152,4912024Assets 2025: $9,368,122Liabilities 2025: $9,337,035Net Assets 2025: $31,0872025

Highlighted filing

2024

Assets$9,605,884
Liabilities$9,758,375
Net Assets-$152,491
Open 2024 Filing

Operations Trend

Revenue Growth19th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,556,0222010Revenue 2011: $3,000,644Expenses 2011: $2,203,907Net Income 2011: $796,7372011Revenue 2012: $3,863,711Expenses 2012: $3,997,648Net Income 2012: -$133,9372012Revenue 2013: $4,133,765Expenses 2013: $3,485,700Net Income 2013: $648,0652013Revenue 2014: $3,370,728Expenses 2014: $3,369,309Net Income 2014: $1,4192014Revenue 2015: $3,990,275Expenses 2015: $3,815,482Net Income 2015: $174,7932015Revenue 2016: $5,527,240Expenses 2016: $3,959,361Net Income 2016: $1,567,8792016Revenue 2017: $4,062,989Expenses 2017: $3,752,492Net Income 2017: $310,4972017Revenue 2018: $2,841,128Expenses 2018: $3,593,602Net Income 2018: -$752,4742018Revenue 2019: $4,047,590Expenses 2019: $4,017,187Net Income 2019: $30,4032019Revenue 2020: $3,800,869Expenses 2020: $4,257,300Net Income 2020: -$456,4312020Revenue 2021: $4,938,373Expenses 2021: $5,748,839Net Income 2021: -$810,4662021Revenue 2022: $5,534,233Expenses 2022: $6,078,138Net Income 2022: -$543,9052022Revenue 2023: $4,711,667Expenses 2023: $5,929,262Net Income 2023: -$1,217,5952023Revenue 2024: $4,155,831Expenses 2024: $5,570,929Net Income 2024: -$1,415,0982024Revenue 2025: $2,304,094Expenses 2025: $2,544,670Net Income 2025: -$240,5762025

Highlighted filing

2024

Revenue$4,155,831
Expenses$5,570,929
Net Income-$1,415,098
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 17, 2025
Return Version
2023v6.0
Gross Receipts
$4,155,831
Mission and Program Overview

Mission

Visible music college will train and equip artists, technicians, and business professionals for service in the christian music industry or in service to a church.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,637,374$8,399,731▼ $237,643
Cash and Non-Interest-Bearing Accounts$428,016$570,759▲ $142,743
Accounts Receivable$281,991$368,057▲ $86,066
Pledges and Grants Receivable$200,000$204,200▲ $4,200
Inventories for Sale or Use$33,417$38,545▲ $5,128
Prepaid Expenses and Deferred Charges$7,500$13,104▲ $5,604
Total Assets$9,599,198$9,605,884▲ $6,686
Other Assets Total$10,900$11,488▲ $588
Liabilities
Unsecured Notes Loans Payable$7,665,783$7,790,724▲ $124,941
Accounts Payable and Accrued Expenses$674,306$1,543,497▲ $869,191
Other Liabilities-$424,154-
Total Liabilities$8,340,089$9,758,375▲ $1,418,286
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,259,109$-152,491▼ $1,411,600
Total Net Assets Fund Balance$1,259,109$-152,491▼ $1,411,600
Total Liabilities and Net Assets / Fund Balance$9,599,198$9,605,884▲ $6,686

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,347,768$2,806,214$10,153,982
Equipment$707,234$846,498$1,553,732
Land$344,729-$344,729
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Paula BeasleyChair
Ken SteortsPresident
Cameron HarveyDirector
John DudasDirector
Joy JohnsonDirector
Lee GibsonDirector
Michael CooperDirector
Sarah HaizlipDirector
Sheila WhalumDirector
Steve McintyreDirector
Will NorrisSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$755,154
Program Service Revenue
$3,400,677
Investment Income
$0
Other Revenue
$0
All Other Contributions
$755,154
Change in Net Assets
$-1,415,098

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,155,831
Total Revenue per Audited Statements
$4,155,831
Total Revenue per Form 990
$4,155,831
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,696,176
Salaries, Compensation, and Employee Benefits$1,874,753
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,311,966$276,525-$1,588,491
Interest-$1,381,912-$1,381,912
Fees for Services Other$742,785--$742,785
Advertising$307$329,211-$329,518
Depreciation Depletion-$240,000-$240,000
Occupancy$63,191$167,925-$231,116
Fees for Services Legal-$180,335-$180,335
Current Officers, Directors, Trustees, and Key Employees$149,400--$149,400
Payroll Taxes$90,790$22,697-$113,487
Insurance-$79,422-$79,422
Information Technology$71,425--$71,425
Other Expenses$38,077$11,741-$38,077
Other Employee Benefits$18,700$4,675-$23,375
Travel$21,197--$21,197
All Other Expenses$3,191$17,464-$20,655
Office Expenses-$6,148-$6,148
Total Functional Expenses$2,659,578$2,911,351$0$5,570,929

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,570,929
Total Expenses per Audited Statements$5,570,929
Total Expenses per Form 990$5,570,929
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Longterm Liabilities$424,154
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The institution's process is for the board of trustees and finance committee to review and approve the form 990 prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Enforcement of conflicts policy visible music college aims to be clear of any hint of improper handling of business. Any staff member who wishes to disclose an illegal activity may do so to the president of the college without repercussion related to their job. If the illegal activity involves the president, he or she may approach the chair of the board of trustees in writing without fear of dismissal. Separate from the standard grievance policy, a person who considers themselves to have proof of an illegal activity at the college may approach the president or board chair with this informaiton directly.”

Form 990, Page 6, Part VI, Line 15A

“The president of the institution approves the salaries and compensation of each department head. Each department head approves the salaries and compensation of their subordinates. The president's salary is reviewed by the board of trustees and/or their finance committee.”

Form 990, Page 6, Part VI, Line 19

“The institution makes its financial statements available throught guidestar or upon request from the public.”

Filing and Contact Details

Filer

Filer Name
Visible Music College
EIN
62-1861520
Phone
9014624137
Address
200 MADISON AVENUE, MEMPHIS, TN 38103

Signing Officer

Name
Ken Steorts
Title
President
Phone
9013813939
Signed
2025-04-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Steorts
Formed
2000
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
10
Employees
75

Preparer

Firm
Newsom and Associates Pa
Address
12740 ATLANTIC BLVD STE 7, JACKSONVILLE, FL 32225
Preparer
C Scott Newsom
Phone
9043200572
Supplemental Narrative

Additional Explanations

Form 990

“For the year june 30, 2024, while operating revenues decreased, operating expenses decreased as well, which resulted in operational profits of 155,602. The organization's overall loss is a result from non- operational charges from depreciation of 240,000 and interest expense of 1,327,202. Management is exploring reducing the debt load by reducing the financed assets.”

Form 990, Part IX, Line 11G

“Contract expense 742,785 0 0”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OccupancyGrp/ProgramServicesAmt063191
IRS990/OccupancyGrp/TotalAmt0231116
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt06148
IRS990/OfficeExpensesGrp/TotalAmt06148
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
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IRS990/OtherAssetsTotalGrp/BOYAmt010900
IRS990/OtherAssetsTotalGrp/EOYAmt011488
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt04675
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt018700
IRS990/OtherEmployeeBenefitsGrp/TotalAmt023375
IRS990/OtherExpensesGrp/Desc0BAD DEBTS
IRS990/OtherExpensesGrp/Desc1EDUCATIONAL MATERIALS
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc3ACCREDITATION
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0185398
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt17898
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt211741
IRS990/OtherExpensesGrp/ProgramServicesAmt079422
IRS990/OtherExpensesGrp/ProgramServicesAmt169127
IRS990/OtherExpensesGrp/ProgramServicesAmt238077
IRS990/OtherExpensesGrp/TotalAmt0185398
IRS990/OtherExpensesGrp/TotalAmt187320
IRS990/OtherExpensesGrp/TotalAmt280868
IRS990/OtherExpensesGrp/TotalAmt338077
IRS990/OtherLiabilitiesGrp/EOYAmt0424154
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0276525
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01311966
IRS990/OtherSalariesAndWagesGrp/TotalAmt01588491
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt022697
IRS990/PayrollTaxesGrp/ProgramServicesAmt090790
IRS990/PayrollTaxesGrp/TotalAmt0113487
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0200000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0204200
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt07500
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt013104
IRS990/PrincipalOfficerNm0KEN STEORTS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM TUITION AND FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03400677
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03400677
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01196116
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt03827027
IRS990/PYProgramServiceRevenueAmt03515551
IRS990/PYRevenuesLessExpensesAmt0-1217595
IRS990/PYSalariesCompEmpBnftPaidAmt02102235
IRS990/PYTotalExpensesAmt05929262
IRS990/PYTotalRevenueAmt04711667
IRS990/ReconcilationRevenueExpnssAmt0-1415098
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt07347768
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02806214
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010153982
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0707234
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0846498
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01553732
IRS990ScheduleD/ExpensesSubtotalAmt05570929
IRS990ScheduleD/LandGrp/BookValueAmt0344729
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0344729
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0424154
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER LONGTERM LIABILITIES
IRS990ScheduleD/RevenueSubtotalAmt04155831
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08399731
IRS990ScheduleD/TotalExpensesPerForm990Amt05570929
IRS990ScheduleD/TotalLiabilityAmt0424154
IRS990ScheduleD/TotalRevenuePerForm990Amt04155831
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04155831
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05570929
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE INFORMATION IS PUBLISHED IN THE SCHOOL'S CATALOG THAT IS GIVEN TO ALL PROSPECTIVE STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE INSTITUTION PARTICIPATES IN THE STUDENT FINANCIAL AID PROGRAMS OF TITLE IV ADMINISTERED BY THE U.S. DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FOR THE YEAR JUNE 30, 2024, WHILE OPERATING REVENUES DECREASED, OPERATING EXPENSES DECREASED AS WELL, WHICH RESULTED IN OPERATIONAL PROFITS OF 155,602. THE ORGANIZATION'S OVERALL LOSS IS A RESULT FROM NON- OPERATIONAL CHARGES FROM DEPRECIATION OF 240,000 AND INTEREST EXPENSE OF 1,327,202. MANAGEMENT IS EXPLORING REDUCING THE DEBT LOAD BY REDUCING THE FINANCED ASSETS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE INSTITUTION'S PROCESS IS FOR THE BOARD OF TRUSTEES AND FINANCE COMMITTEE TO REVIEW AND APPROVE THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ENFORCEMENT OF CONFLICTS POLICY VISIBLE MUSIC COLLEGE AIMS TO BE CLEAR OF ANY HINT OF IMPROPER HANDLING OF BUSINESS. ANY STAFF MEMBER WHO WISHES TO DISCLOSE AN ILLEGAL ACTIVITY MAY DO SO TO THE PRESIDENT OF THE COLLEGE WITHOUT REPERCUSSION RELATED TO THEIR JOB. IF THE ILLEGAL ACTIVITY INVOLVES THE PRESIDENT, HE OR SHE MAY APPROACH THE CHAIR OF THE BOARD OF TRUSTEES IN WRITING WITHOUT FEAR OF DISMISSAL. SEPARATE FROM THE STANDARD GRIEVANCE POLICY, A PERSON WHO CONSIDERS THEMSELVES TO HAVE PROOF OF AN ILLEGAL ACTIVITY AT THE COLLEGE MAY APPROACH THE PRESIDENT OR BOARD CHAIR WITH THIS INFORMAITON DIRECTLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRESIDENT OF THE INSTITUTION APPROVES THE SALARIES AND COMPENSATION OF EACH DEPARTMENT HEAD. EACH DEPARTMENT HEAD APPROVES THE SALARIES AND COMPENSATION OF THEIR SUBORDINATES. THE PRESIDENT'S SALARY IS REVIEWED BY THE BOARD OF TRUSTEES AND/OR THEIR FINANCE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE INSTITUTION MAKES ITS FINANCIAL STATEMENTS AVAILABLE THROUGHT GUIDESTAR OR UPON REQUEST FROM THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTRACT EXPENSE 742,785 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt09599198
IRS990/TotalAssetsEOYAmt09605884
IRS990/TotalAssetsGrp/BOYAmt09599198
IRS990/TotalAssetsGrp/EOYAmt09605884
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0755154
IRS990/TotalEmployeeCnt075
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02911351
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02659578
IRS990/TotalFunctionalExpensesGrp/TotalAmt05570929
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08340089
IRS990/TotalLiabilitiesEOYAmt09758375
IRS990/TotalLiabilitiesGrp/BOYAmt08340089
IRS990/TotalLiabilitiesGrp/EOYAmt09758375
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01259109
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-152491
IRS990/TotalProgramServiceExpensesAmt02659578
IRS990/TotalProgramServiceRevenueAmt03400677
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03400677
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04155831
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09599198
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09605884
IRS990/TravelGrp/ProgramServicesAmt021197
IRS990/TravelGrp/TotalAmt021197
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt07665783
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt07790724
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0200 MADISON AVENUE
IRS990/USAddress/CityNm0MEMPHIS
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038103
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.VISIBLE.EDU
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KEN STEORTS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09013813939
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VISIBLE MUSIC COLLEGE
ReturnHeader/Filer/BusinessNameControlTxt0VISI
ReturnHeader/Filer/EIN0621861520
ReturnHeader/Filer/PhoneNum09014624137
ReturnHeader/Filer/USAddress/AddressLine1Txt0200 MADISON AVENUE
ReturnHeader/Filer/USAddress/CityNm0MEMPHIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038103
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0812979526
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NEWSOM AND ASSOCIATES PA

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,605,884
Liabilities
$9,758,375
Net assets
-$152,491
Revenue
$4,155,831
Expenses
$5,570,929
Net income
-$1,415,098
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$9.37$9.34$0.03$2.30$2.54$0.24
2024Detailed filing. Detailed filing data is available for this year.$9.61$9.76$0.15$4.16$5.57$1.42
2023Detailed filing. Detailed filing data is available for this year.$9.60$8.34$1.26$4.71$5.93$1.22
2022Detailed filing. Detailed filing data is available for this year.$10.6$8.10$2.47$5.53$6.08$0.54
2021Detailed filing. Detailed filing data is available for this year.$10.7$7.59$3.08$4.94$5.75$0.81
2020Detailed filing. Detailed filing data is available for this year.$10.8$7.19$3.57$3.80$4.26$0.46
2019Detailed filing. Detailed filing data is available for this year.$10.8$6.81$4.03$4.05$4.02$0.03
2018Detailed filing. Detailed filing data is available for this year.$10.6$6.58$4.00$2.84$3.59$0.75
2017Summary only. Only limited summary data is available for this year.$10.8$6.06$4.75$4.06$3.75$0.31
2016Summary only. Only limited summary data is available for this year.$9.51$5.07$4.44$5.53$3.96$1.57
2015Summary only. Only limited summary data is available for this year.$7.21$4.34$2.87$3.99$3.82$0.17
2014Summary only. Only limited summary data is available for this year.$6.28$3.58$2.70$3.37$3.37$0.00
2013Summary only. Only limited summary data is available for this year.$5.48$2.78$2.69$4.13$3.49$0.65
2012Summary only. Only limited summary data is available for this year.$4.71$2.66$2.05$3.86$4.00$0.13
2011Summary only. Only limited summary data is available for this year.$2.93$0.75$2.18$3.00$2.20$0.80
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.82$0.44$1.38$2.56