2024-08-27T11:10:41-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2023-01-01 266579467 K-LOVE & AIR1 FOUNDATION K-LO 9162511600 5700 WEST OAKS BLVD ROCKLIN CA 95765 MATT REYNOLDS CFO/TREASURER 9162511600 2024-08-22 1 1 KATHERINE A WARLICK P02065266 7049985200 2024-08-16 2023 2024-08-08 14:25:15Z TOM STULTZ 5700 WEST OAKS BLVD ROCKLIN CA 95765 1369468 0 X N/A X 2008 CA KLOVE & AIR1 FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS AND EDUCATIONAL PURPOSES AND FOR THE SUPPORT OR BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES PRIMARILY OF EDUCATIONAL MEDIA FOUNDATION AND OTHER EXEMPT ORGANIZATIONS WHICH SUPPORT AND PROMOTE CHRISTIAN EVANGELISM, EDIFICATION, AND VALUES. 1 1 8 8 0 0 0 0 1370995 1210000 0 750 116888 158718 1487883 1369468 0 0 0 0 975494 1026224 0 0 80514 393986 852470 1369480 1878694 118403 -509226 3957051 1541250 183190 526512 3773861 1014738 X KLOVE & AIR1 FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS AND EDUCATIONAL PURPOSES AND FOR THE SUPPORT OR BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES PRIMARILY OF EDUCATIONAL MEDIA FOUNDATION AND OTHER EXEMPT ORGANIZATIONS WHICH SUPPORT AND PROMOTE CHRISTIAN EVANGELISM, EDIFICATION, AND VALUES. 0 0 958535 1210000 K-LOVE & AIR1 FOUNDATION, THROUGH ITS WHOLLY OWNED SUBSIDIARY, WTA MEDIA LLC, CONTINUED ITS WORK TO DEVELOP, MARKET, AND DISTRIBUTE CHRISTIAN MEDIA INCLUDING, BUT NOT LIMITED TO FILM AND LITERATURE. 958535 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 4 0 1 8 1 0 0 0 0 0 0 0 0 0 0 0 0 X 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 CA X MATT REYNOLDS 9162511600 5700 WEST OAKS BLVD ROCKLIN CA 95765 EMF CORPORATION INSTITUTIONAL TRUSTEE 1.00 1.00 X 0 0 0 JON REEVES CEO (ENDED 3/21/23) 50.00 2.00 X 0 131014 15829 TODD WOODS CEO (ENDED 5/15/24) 50.00 2.00 X 0 453039 44788 MICHAEL LEWIS PRESIDENT (ENDED 5/17/23) 50.00 2.00 X 0 201857 17893 DAVID ATKINSON CFO/TREASURER (ENDED 3/21/23) 50.00 2.00 X 0 551889 25789 MATTHEW REYNOLDS CFO/TREASURER 50.00 2.00 X 0 226955 41299 JOSEPH MILLER ASST TREASURER 50.00 2.00 X 0 287376 34815 SUSAN MYERS SECRETARY 50.00 2.00 X 0 224527 18401 BRIAN MITCHELL DIVISIONAL PRES. (ENDED 12/15/23) 50.00 0.00 X 358662 0 40529 DAVID SCHROEDER EXEC DIR PUBLISHING (ENDED 2/23/24) 50.00 0.00 X 144421 0 38882 ADAM HASTINGS EXEC DIR FILM & TV (ENDED 9/15/23) 50.00 0.00 X 107517 0 3846 SHAINE GRIESHABER FORMER SECRETARY (ENDED 5/22/22) 50.00 2.00 X 0 219586 0 610600 2296243 282071 4 1 1 0 SANDOVAL DESIGN & MARKETING LLC 3150 E RAY RD APT 470 GILBERT AZ 85296 MARKETING SERVICES 189000 1 MARKETING SERVICES 900099 575000 575000 DISTRIBUTION REVENUE 900099 275000 275000 PUBLISHING FEES 900099 240000 240000 FILM MANAGEMENT FEES 900099 120000 120000 1210000 158718 158718 750 0 750 750 750 1369468 1210000 0 159468 896983 732566 102884 61533 28478 23258 3266 1954 40043 32703 4593 2747 60720 49590 6965 4165 6800 6800 14579 11907 1672 1000 657915 657915 9864 8056 1131 677 71909 58728 8248 4933 21924 17905 2515 1504 MISCELLANEOUS 50601 8404 41491 706 ENGINEERING 18878 15418 2165 1295 1878694 958535 839645 80514 1008669 1207347 103115 333903 158947 0 1627 0 2684693 0 3957051 1541250 183190 144746 0 381766 183190 526512 X 0 0 0 0 3773861 1014738 3773861 1014738 3957051 1541250 X -509226 -2249897 X X 0 1 X 1 0 X X 1 EDUCATIONAL MEDIA FOUNDATION 942816342 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 INTERCOMPANY LIABILITIES 381766 381766 X PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION HAS NOT ENTERED INTO ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS RECORDED IN THE ACCOMPANYING CONSOLIDATED STATEMENT OF ACTIVITIES. 1 1 0 0 0 0 0 0 0 0 DAVID ATKINSON CFO/TREASURER (ENDED 3/21/23) 0 185440 0 193167 0 173282 0 11883 0 13906 0 577678 0 0 TODD WOODS CEO (ENDED 5/15/24) 0 380591 0 67000 0 5448 0 11643 0 33145 0 497827 0 0 BRIAN MITCHELL DIVISIONAL PRES. (ENDED 12/15/23) 207286 0 11138 0 140238 0 7384 0 33145 0 399191 0 0 0 JOSEPH MILLER ASST TREASURER 0 270334 0 950 0 16092 0 11570 0 23245 0 322191 0 0 MATTHEW REYNOLDS CFO/TREASURER 0 197231 0 29724 0 0 0 8154 0 33145 0 268254 0 0 SUSAN MYERS SECRETARY 0 185291 0 500 0 38736 0 7794 0 10607 0 242928 0 0 MICHAEL LEWIS PRESIDENT (ENDED 5/17/23) 0 153885 0 0 0 47972 0 8034 0 9859 0 219750 0 0 SHAINE GRIESHABER FORMER SECRETARY (ENDED 5/22/22) 0 0 0 0 0 219586 0 0 0 0 0 219586 0 0 DAVID SCHROEDER EXEC DIR PUBLISHING (ENDED 2/23/24) 135146 0 0 0 9275 0 5737 0 33145 0 183303 0 0 0 PART I, LINE 4A DAVID ATKINSON RECEIVED SEVERANCE PAY OF $126,880. SHAINE GRIESHABER RECEIVED SEVERANCE PAY OF $219,586. FORM 990, PART VI, SECTION A, LINE 8B MINUTES ARE BEING TAKEN CONTEMPORANEOUSLY WITH THE MEETINGS AND SUBSEQUENTLY REVIEWED AND APPROVED BY THE BOARD. THERE ARE NO COMMITTEES THAT ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS COMPLETED BY AN OUTSIDE ACCOUNTING FIRM. THEREAFTER, THE FORM 990 IS REVIEWED INTERNALLY BY MEMBERS OF THE FINANCE/ACCOUNTING DEPARTMENT AND SENIOR MANAGEMENT. ONCE THEIR QUESTIONS ARE RESOLVED, THE DOCUMENT IS DISTRIBUTED TO EACH MEMBER OF THE BOARD OF DIRECTORS FOR REVIEW. WHEN THE BOARD OF DIRECTOR'S REVIEW IS COMPLETE AND THE FINAL FORM IS APPROVED, THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND ANY EMPLOYEES FOUND TO HAVE FINANCIAL DECISION-MAKING ABILITIES ARE PROVIDED A COPY OF THE POLICY ON CONFLICT OF INTEREST AND ARE REQUIRED TO DISCLOSE ANY CONFLICTS. IF A CONFLICT IS DISCLOSED, THE FULL BOARD, LESS THE CONFLICTED MEMBER, WILL DETERMINE THE APPROPRIATE ACTION TO BE TAKEN. ADDITIONALLY, EMPLOYEES, AT THE TIME OF THEIR EMPLOYMENT, ARE REQUIRED TO SIGN AN ACKNOWLEDGEMENT OF THE CONFLICT OF INTEREST POLICY THAT IMPOSES AN ON-GOING OBLIGATION TO DISCLOSE ANY CONFLICTS THAT MIGHT ARISE. IN THE EVENT AN EMPLOYEE REPORTS A POTENTIAL CONFLICT OF INTEREST, THE POTENTIAL CONFLICT IS RAISED TO THE GENERAL COUNSEL, AND APPROPRIATE MEASURES ARE TAKEN. IN THE CASE OF AN EMPLOYEE WITH A FINANCIAL INTEREST IN A VENDOR THAT DOES BUSINESS WITH THE MINISTRY, THE TRANSACTION IS REVIEWED BY DISINTERESTED MEMBERS OF EXECUTIVE MANAGEMENT, AND IN APPROPRIATE CASES COMPETITIVE BIDS ARE OBTAINED TO ASSURE THAT THE TRANSACTION IS FAIR AND EQUITABLE. CONFLICT OF INTEREST STATEMENTS ARE SIGNED YEARLY. FORM 990, PART VI, SECTION C, LINE 19 THE CONSOLIDATED FINANCIAL STATEMENTS, CONFLICTS OF INTEREST POLICY, AS WELL AS OTHER PERTINENT DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: GOODWILL IMPAIRMENT -2,684,697. CAPITAL CONTRIBUTED FROM EDUCATIONAL MEDIA FOUNDATION 434,800. FORM 990, PART XII, LINE 2C: AUDITOR SELECTION AND AUDIT REVIEW PROCESS IS UNCHANGED FROM PRIOR YEAR. 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