2023-11-08T22:46:41-06:00 2023-03-31 SMITH & HOWARD ADVISORY LLC 271 17TH STREET NW SUITE 1600 ATLANTA GA 30363 990 2022-04-01 581260812 CROWN FINANCIAL MINISTRIES INC % JERRY TREGEA CROW 8007221976 8351 E WALKER SPRINGS LANE STE 403 KNOXVILLE TN 379233141 CHUCK BENTLEY CEO 8007221976 2024-02-15 true CHUCK BENTLEY 999009999 SABRE J LINAHAN P01372980 4048746244 2024-02-15 2 2022 2023-04-26 12:10:37Z CHUCK BENTLEY 8351 E WALKER SPRINGS LN 403 KNOXVILLE TN 379233141 5885918 false X WWW.CROWN.ORG X 1976 GA TO TEACH BIBLICAL PRINCIPLES OF FINANCE/ MONEY MANAGEMENT AND TRAIN OTHERS TO TEACH THESE PRINCIPLES. 9 8 25 10000 0 0 5149147 4336749 327903 396700 42893 76711 557591 595687 6077534 5405847 414787 305986 0 0 2034212 2259543 60077 59861 818083 2119400 2378025 4628476 5003415 1449058 402432 6948002 7583044 1730534 2072281 5217468 5510763 X Crown Financial Ministries, founded in 1976, is dedicated to equipping leaders to help bring Freedom, Restoration and Flourishing in the communities in which they serve. We believe, and have experienced, that most of the world's greatest challenges stem from a lack of understanding of what we've been given, and how to best use it. Crown has taught or equipped tens of millions of people in over 100 nations with the life-transforming message of faithfully living by God's kingdom principles in every area of their lives. The ministry is headquartered in the United States, and has a significant global presence. Crown accomplishes all this with about 25 employees and in partnership with over 10,000 passionate volunteers worldwide who help ignite True Freedom. false false 353680 126607 Broadcasting & Social Media- Across the U.S. and internationally on a network of 1,249 terrestrial radio stations and outlets, and through the internet, Crown's programs potentially teach God's financial principles to 8,333,500 listeners. Countless more learn through CEO Chuck Bentley's blog and Crown's Tweets and Facebook posts. 1001475 358499 National ministries - Regionally based teams in North America work with community, parachurch ministries and church teams, assisting them to implement small group studies, Money Life Coach training, and other Crown teaching resources. 1175401 305986 420759 International Operations - Crown supports ministries in South America and Sub-Saharan Africa through grants. Also, it has committed resources to translating various materials into non-English languages and travels to these regions to support the various ministries. 2530556 true true false false false false false false false true true false false true true true true false false false true true true true false false false false false true false false false false false false true false false false false false false false false false false true 61 0 true 25 true false false false false false false false false false false false false X 9 8 false false false false false false false true true false false true true true true true true true true false AL AR CT FL GA HI KS KY MD MA MI MN MS NH NJ NM NC OK OR PA RI SC TN UT VA WV WI X X X JERRY TREGEA 8007221976 8351 E WALKER SPRINGS LANE STE 403 KNOXVILLE TN 379023141 X Chuck Bentley CEO 50.0 0.0 X X 151888 0 58271 Sheila Thompson VP of Donor Relations 50.0 0.0 X 119002 0 19919 Handre DeJongh VP - Pships & Global Dev 50.0 0.0 X 112297 0 21967 Tracey Fries COO 50.0 0.0 X 100925 0 11901 Calvin Dillinger Sr Director of Operations 50.0 0.0 X 100975 0 11784 Wayne Everbach CFO 24.0 0.0 X 80491 0 4829 Phil Clemens Board Chair 1.0 0.0 X 0 0 0 Stuart Nordberg Treasurer/Secretary 1.0 0.0 X 0 0 0 Charles Raymond Director 1.0 0.0 X 0 0 0 Steve Whaley Director 1.0 0.0 X 0 0 0 Jeff Holler Director 1.0 0.0 X 0 0 0 Joe Panter Vice Chair 1.0 0.0 X 0 0 0 Ruth Morales Director 1.0 0.0 X 0 0 0 Luke Roush Director 1.0 0.0 X 0 0 0 665578 0 128671 5 false true false LAUNCH THOUGHT 2232 S MAIN ST STE 353 ANN ARBOR MI 48103 IT SERVICES 108000 1 4336749 389 4336749 PROGRAM FEES 900099 396700 396700 396700 96873 96873 0 86522 86522 0 0 0 118700 138862 -20162 -20162 -20162 0 0 0 0 0 0 681635 341209 340426 340426 MISCELLANEOUS REVENUE 900099 168739 168739 168739 5405847 905865 163233 X 0 0 305986 305986 0 648389 269925 306882 71582 0 1290130 507906 647554 134670 60359 25127 28568 6664 130843 54470 61928 14445 129822 54045 61445 14332 546629 388423 117911 40295 16352 16352 50145 50145 0 59861 59861 0 0 90318 18696 71622 5482 2283 2595 604 209480 98344 76021 35115 0 117461 47734 57070 12657 85374 68261 7859 9254 0 456630 378485 18479 59666 0 0 81083 73751 7332 73729 73729 POSTAGE & PRINTING 233671 621 2264 230786 PRODUCT DEVELOPMENT 144411 113043 31368 LICENSING 131253 131253 MISCELLANEOUS 119275 10899 99453 8923 16732 493 16239 5003415 2530556 1654776 818083 X 362516 775269 3643615 13995 0 0 17761 24335 0 0 0 0 0 0 62647 52699 135597 153954 148717 126110 32072 22607 1710618 5251321 0 0 0 0 0 0 983176 1288864 6948002 7583044 915141 949323 0 0 0 0 0 0 0 0 0 0 0 0 0 0 815393 1122958 1730534 2072281 X 4618644 4956212 598824 554551 5217468 5510763 6948002 7583044 X 402432 -109137 X X false true X true false X 3512588 3366949 3774541 5149147 4336749 20139974 0 0 3512588 3366949 3774541 5149147 4336749 20139974 1045966 19094008 97149 94449 93083 129510 183395 597586 0 0 20737560 5602406 0.92075 0.92735 X SCHEDULE A, PART II, SECTION A FOR COLUMN (D) 2020 A LARGE AND UNEXPECTED ESTATE GIFT TOTALING $1,112,652 HAS BEEN EXCLUDED FROM 2020 GIFTS, GRANTS, CONTRIBUTIONS, AND MEMBERSHIP FEES RECEIVED, REDUCING THIS AMOUNT TO $3,774,541. PER IRS INSTRUCTIONS, THIS WAS DEEMED TO HAVE BEEN AN "UNUSUAL GRANTSHOULD BE EXCLUDED FROM THE FIVE-YEAR TREND COMPARISON. HAD THIS ESTATE GIFT BEEN INCLUDED, THE TOTAL 2020 GIFTS, GRANTS, CONTRIBUTIONS, AND MEMBERSHIP FEES WOULD TOTAL $4,887,193. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 598824 658946 420614 263355 19250 554551 306505 1067798 528055 195571 51853 598824 332550 472529 181707 288835 28032 306505 263711 582745 299773 189316 24817 332550 242640 480694 323844 10801 124978 263711 1.00000 false false 148717 126110 22607 22607 INTANGIBLE ASSET 1317314 AMORTIZATION INTANGIBLE ASSET -846342 TRADEMARK 466212 CAPITALIZED DEVEL COST 977917 A/D CAPITALIZED DEVEL COST -921415 DEPOSITS 4926 ROU - OPERATING LEASE 290252 1288864 0 LICENSING AGREEMENT 829874 OPERATING LEASE LIABILITIY 293084 1122958 X 17560905 -109137 11922986 341209 12155058 5405847 5405847 17267610 11922986 341209 12264195 5003415 5003415 PART V, LINE 4 TEMPORARILY RESTRICTED NET ASSETS ARE CURRENTLY CONTRIBUTED WITH DONOR STIPULATIONS FOR SPECIFIC OPERATING PURPOSES OR PROGRAMS, WITH TIME RESTRICTIONS OR NOT CURRENTLY AVAILABLE FOR USE UNTIL COMMITMENTS REGARDING THEIR USE HAVE BEEN FULFILLED. PART X, LINE 2 CROWN IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED, AND IS CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. CROWN ANNUALLY EVALUATES ALL FEDERAL AND STATE INCOME TAX POSITIONS. THIS PROCESS INCLUDES AN ANALYSIS OF WHETHER THESE INCOME TAX POSITIONS CROWN TAKES MEET THE DEFINITION OF AN UNCERTAIN TAX POSITION UNDER THE INCOME TAXES TOPIC OF THE FINANCIAL ASC. IN THE NORMAL COURSE OF BUSINESS, CROWN IS SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE TAXING AUTHORITIES. IN GENERAL, CROWN IS NO LONGER SUBJECT TO TAX EXAMINATIONS FOR TAX YEARS ENDING BEFORE MARCH 31, 2020. PART XI, LINE 2D $341,209 -- COST OF GOODS SOLD PART XII, LINE 2D $341,209 -- COST OF GOODS SOLD true East Asia and the Pacific 0 0 Grantmaking 4920 South America 0 0 Grantmaking 875 Sub-Saharan Africa 0 0 Grantmaking 300191 0 0 0 0 305986 305986 Sub-Saharan Africa SUPPORT 36288 WIRE TRANS. 1184 Technology support & Sub-Saharan Africa TRAINING 211294 WIRE TRANS. 16962 MISC SUPPORT 2 MINISTERIAL SUPPORT Sub-Saharan Africa 2 14000 WIRE TRANS. 10120 MISC. false false false false false false SCHEDULE F, PART I, LINE 2 EXPENSES FOR FOREIGN ACTIVITIES ARE BUDGETED FOR EACH YEAR AND PAID AS INCURRED IN EACH REGION. SCHEDULE F, PART I, LINE 3 THE ORGANIZATION TRACKS ALL EXPENSES VIA A BUDGETARY PROCESS. EXPENSES ARE REPORTED ON THE ACCRUAL BASIS. X X X X X true MASTERWORKS 19462 POWDER HILL NE POULSBO WA 98370 GUIDANCE false 59861 59861 AL AK AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI X X X true true X X false false false false false false false true false Chuck Bentley CEO 140750 1700 9438 11597 47466 210951 PART I, LINE 1A TRAVEL BENEFITS INCLUDING AIRFARE, HOTEL, AND MEALS WERE PROVIDED TO THE WIFE OF CHUCK BENTLEY, CEO OF THE ORGANIZATION, AS SHE ASSISTED WITH PLANNING AND ONSITE EVENT COORDINATION AND PARTICIPATED IN JOINT INTERVIEWS WITH THE CEO. BECAUSE HER ATTENDANCE WAS REQUIRED AS PART OF THE EVENTS, THE TRAVEL COSTS WERE NOT REPORTED AS TAXABLE COMPENSATION TO CHUCK BENTLEY. IT IS CROWN'S POLICY TO GROSS UP THE SOCIAL SECURITY AND MEDICARE TAXES FOR THOSE EMPLOYEES WHO ARE MINISTERS. THIS ESSENTIALLY PAYS TO THEM THE EMPLOYER PORTION OF THE TAX. BONUSES ARE ALSO GROSSED UP. A HOUSING ALLOWANCE IS PROVIDED TO SOME OFFICERS WHO ARE ORDAINED MINISTERS. THE HOUSING ALLOWANCE IS APPROVED BY THE BOARD OF DIRECTORS AND DOCUMENTED IN THE BOARD MINUTES UPON APPROVAL. PART I, LINE 7 HANDRE DEJONGH, CALVIN DILLINGER, WAYNE EVERBACH, SHEILA THOMPSON, TRACEY FRIES, AND CHUCK BENTLEY RECEIVED BONUSES DURING THE YEAR. ALL EMPLOYEES RECEIVED A BONUS IN NOVEMBER. ANN BENTLEY WIFE OF CEO 21570 SCRIPT WRITING FOR RADIO PROGR false JASON EVERBACH SON OF CFO 70957 WEB SERVICES false JOHN BENTLEY SON OF CEO 42885 VIDEO PRODUCTION false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 91216 PROGRAMMING FOR CD PLATFORM false FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND REVIEWED BY THE ORGANIZATION'S TOP MANAGEMENT. THE REVIEWED FORM 990 IS THEN FORWARDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER AND DIRECTOR IS REQUIRED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY. THIS QUESTIONNAIRE IS MONITORED BY THE HUMAN RESOURCE DEPARTMENT FOR COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION PROCESS FOR THE CEO AND OTHER OFFICERS INCLUDE A REVIEW BASED ON: 1) FINANCIAL AFFORDABILITY 2) INDIVIDUAL AND ORGANIZATIONAL PERFORMANCE 3) COMPARABLE SALARY DATA OBTAINED FROM SIMILAR ORGANIZATIONS AND FROM ONLINE COMPENSATION SURVEYS. THE COMPENSATION FOR THE CEO IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE MINISTRY'S BOARD OF DIRECTORS, PROVIDING ACCOUNTABILITY AND INDEPENDENT OVERSIGHT TO THE PROCESS. THE CEO IS RESPONSIBLE FOR COMPENSATION REVIEW OF OTHER OFFICERS USING THE ABOVE GUIDELINES UNDER OVERSIGHT FROM CROWN'S BOARD OF DIRECTORS. THE COMPENSATION APPROVAL FOR BOTH THE CEO AND OTHER OFFICERS ARE DOCUMENTED IN THE BOARD MINUTES UPON BOARD APPROVAL VIA THE BUDGETARY PROCESS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 24b In October 1997, Christian Financial Concepts, Inc. entered into an agreement to purchase rights to intellectual properties from its founder and former president. In October 2000, following the merger of Christian Financial Concepts, Inc. and Crown Ministries, Inc., the Board of Directors of the merged organization of Crown endorsed the agreement.These rights include the revocable rights to purchase, use and modify all copyrighted materials produced by the founder. Crown also purchased the exclusive rights to the publicity of Larry Burkett's image and name as part of its continuing ministry. In exchange for these rights, Crown provides an annual payment, of $75,000, along with certain medical benefits, (both indexed to inflation) to the co-founder's surviving spouse. Every three years the agreement requires a formal review of the actuarial calculation of the amount projected to meet all future payments. During 2023 and 2022, management, along with the assistance of an independent third-party actuary assessed these assumptions and inputs and determined that, due to the adjusted life expectancy of the co-founder's surviving spouse, the future liability should be increased as of March 31, 2023 and March 31, 2022. This adjusted life expectancy resulted in an increases of $131,253 and $132,071, respectively, to the licensing agreement liability in the accompanying Statement of Financial Position for the years ended March 31, 2023 and 2022. Assumptions used in the calculation of this liability include a discount rate of 6% and an assumed annual cost of living increase for expenses other than medical of 2.25% for the years ended March 31, 2023 and 2022. There was no cash flow impact from these adjustments for the years ended March 31, 2023 and 2022. Future annual estimated cash flow impact resulting from these updated projections is not expected to be significant. The present value of these benefits was estimated to be $829,874 and $815,393 at March 31, 2023 and 2022, respectively. FORM 990, PART XII, LINE 2C EXPLANATION OF RESPONSIBILITY: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.