You can read K-LOVE's Audit from 2017 here. Their tax forms, all of that has been readily available online:
Here's how it's done from what I can remember.
They take donations all year. They do pledge drives, which run two weeks on average in the Spring and Fall. They stop the music much of the time.
The average pledge is $40 a month.
Most donations go to the funding of the local stations. Donations go by zip code. Some go to pay the employees and run the rest of the network, the stream, other expenses.
As you might expect, they always either meet or exceed the pledge drive goals. They often have "Match donations" meaning if someone pledges $40, another will automatically pledge $40 every time up to a certain amount.
Many people often pledge more than $40. Businesses donate. Some donate things other than cash such as boats and vehicles.
A certain percentage of excess cash they have from pledges that do not go to fund the local stations, and the network go into "New Stations" which is where the money to buy these stations comes from. Excess.
It's 501c3. At the end of every year, you get a tax form showing all of your donations.
If they are meeting 100% of their pledge drive goals, they are more than able to handle it.
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