In a letter last week to GMA members and supporters, Ed Leonard, GMA president and board chairman as well as Daywind Music Group president, wrote that the association experienced a financial crisis in 2009 that "threatened its very existence."

"With the grace of God, understanding vendors, supportive contributors, faithful members, a dedicated board of directors and a right-sized-yet-mighty staff, we posted a profit in 2010 for the first time in three years, and reduced our debt by $564,000 to a manageable amount," Leonard said.

The organization had reduced expenses "significantly," and sold its building, moving into free space in the Provident Music Group building in Franklin, Tenn.

GMA's challenges have been due in large part to declining membership, which forced the association to cut its staff of 18 to three in a series of layoffs in 2009. John Styll—who had served as the organization's president and CEO for six years—also stepped down in September 2009 as part of a cost-cutting effort to keep the group alive.

During the GMA Dove Awards—held in April in Nashville—the association scrapped its traditional weeklong series of events, due to a lack of corporate sponsors and other factors, at GMA Music Week, which culminated with the awards ceremony.

Additionally, GMA announced in July that the 42nd Annual Dove Awards would be held in Atlanta's historic Fox Theatre, April 20, 2011—the first time the show will take place outside of Nashville.

When Leonard's term as chairman and president ends in April, his position will be filled by Maximum Artist Management President Mitchell Solarek. In addition, GMA will hire an executive director, rather than a president, as part of a new management model.

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