2024-09-03T12:26:05-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2023-01-01 942816342 EDUCATIONAL MEDIA FOUNDATION EDUC 9162511600 5700 WEST OAKS BLVD ROCKLIN CA 95765 MATT REYNOLDS CFO AND TREASURER 9162511600 2024-08-29 1 0 KATHERINE A WARLICK P02065266 7049985200 2024-08-29 2023 2024-08-08 14:25:15Z TOM STULTZ 5700 WEST OAKS BLVD ROCKLIN CA 95765 511392997 0 X WWW.EMFBROADCASTING.COM X 1981 CA SEE SCHEDULE O 8 7 724 260 3995780 0 231285801 220279531 0 4577380 3461127 6264413 3606976 11127828 238353904 242249152 498853 43950 0 0 61244143 64061795 1884570 1866084 10749395 101874088 88578140 165501654 154549969 72852250 87699183 1046247591 1124971160 100991312 94805128 945256279 1030166032 X SEE SCHEDULE O 0 0 104527461 11512939 EMF OWNS AND/OR MANAGES MULTIPLE MEDIA CHANNELS INCLUDING, BUT NOT LIMITED TO, NON-COMMERCIAL RELIGIOUS AND EDUCATIONAL RADIO BROADCASTING; FILM AND VIDEO PRODUCTION, MARKETING, AND DISTRIBUTION; LIVE EVENTS; LITERATURE; STREAMING; PODCASTING, AND OTHER DIGITAL MEDIA. 3076534 PASTORAL CARE DEPARTMENT OF EDUCATIONAL MEDIA FOUNDATION PROVIDES SPIRITUAL SUPPORT TO THE ORGANIZATION'S LISTENING AUDIENCE, AND TO LOCAL COMMUNITIES AND CHURCHES BY CONNECTING CALLERS TO MINISTRY RESOURCES IN THEIR AREAS. THE PASTORAL CARE DEPARTMENT OFFERS BIBLICALLY BASED COUNSELING AND PRAYER, PRIMARILY VIA TELEPHONE, FROM TRAINED PASTORS AND PASTORAL CARE TEAM MEMBERS. THE PASTORAL CARE TEAM IS AVAILABLE TO TAKE LIVE LISTENER CALLS THROUGHOUT THE DAY AND PASTORS ARE ON CALL (24-7) SHOULD CRISIS SUPPORT AND INTERVENTION BE NECESSARY. IN ADDITION, LISTENERS ARE ENCOURAGED TO LEAVE THEIR PRAYER REQUESTS ON THE KLOVE.COM AND AIR1.COM WEBSITES OR VIA EMF'S DIGITAL APPS. THE PASTORAL CARE DEPARTMENT AND THE STAFF OF EDUCATIONAL MEDIA FOUNDATION PRAY FOR THESE REQUESTS DAILY. 638315 THE DARE II DREAM EDUCATIONAL SCHOOL ASSEMBLY PROGRAM ADDRESSES THE ONGOING CHALLENGES FACING THE YOUTH OF TODAY. THE RELIGIOUSLY NEUTRAL AND BIBLICALLY-BASED PRESENTATION EDUCATES KIDS THAT THEIR CHOICES TODAY WILL IMPACT THEIR LIVES TOMORROW. STUDENTS ARE ENCOURAGED TO SURROUND THEMSELVES WITH POSITIVE INFLUENCES, RESIST NEGATIVE PEER PRESSURES, AND TO MOVE FORWARD BY STAYING TRUE TO THE DREAMS AND GOALS PLACED ON THEIR HEARTS. THIS EDUCATIONAL SERVICE IS OFFERED AT NO CHARGE TO THE SCHOOL AND SERVES THE COMMUNITY UNDER THE UMBRELLA OF THE AIR1 NETWORK. THIS PROGRAM WAS DEVELOPED AS AN OUTGROWTH OF OUR PASTORAL MINISTRY AND LOCAL OUTREACH. 615120 CRISIS RESPONSE EDUCATIONAL TRAINING EQUIPS AND SUPPORTS FIRST AND SECOND RESPONDER NETWORKS PROACTIVELY THROUGH TRAINING AND PREPAREDNESS, AND REACTIVELY DURING DISASTER RECOVERY COMMUNITY RESPONSES THROUGH RESILIENCY INTERVENTIONS. THESE SERVICES ARE OFFERED TO (BUT NOT LIMITED TO) FIRST RESPONDERS (POLICE, FIRE), SECONDARY RESPONDERS (MEDICAL HEALTH PROFESSIONALS), AND COMMUNITY CHAPLAINS. THE CLASSES ARE PROVIDED AT NO CHARGE AND TEACH THE BASICS OF CRITICAL INCIDENT STRESS MANAGEMENT (CISM). THIS PROGRAM WAS DEVELOPED AS AN OUTGROWTH OF OUR PASTORAL MINISTRY AND LOCAL OUTREACH. 43950 43950 EMF PROVIDED GRANTS TO EXEMPT ORGANIZATIONS WHICH EDUCATE, SUPPORT, AND PROMOTE CHRISTIAN EVANGELISM, EDIFICATION, AND VALUES. 659070 43950 108901380 1 0 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 1029 0 1 724 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 AL AR CA CO FL GA HI IL KS KY MA MD MI MN MS ND NH NJ NM NY OH OR PA RI SC TN VA WI WV X X X MATT REYNOLDS 9162511600 5700 WEST OAKS BLVD ROCKLIN CA 95765 DONNA ECTON CHAIRMAN (END 3/1/24) 1.00 1.00 X X 0 0 0 LARRY MOODY VICE CHAIR (END 12/31/23) 1.00 1.00 X X 0 0 0 EMIL KALLINA DIRECTOR (END 12/31/23) 1.00 1.00 X 0 0 0 TOM STULTZ DIRECTOR 1.00 1.00 X 0 0 0 MITCH BARNHART DIRECTOR 1.00 1.00 X 0 0 0 JERRY SHIRER DIRECTOR 1.00 1.00 X 0 0 0 MARK BRANNON DIRECTOR 1.00 1.00 X 0 0 0 JON REEVES CEO/DIRECTOR END 3/21/23 50.00 2.00 X X 131014 0 15829 TODD WOODS CEO/DIRECTOR END 5/15/24 50.00 2.00 X X 453039 0 44788 MICHAEL LEWIS PRES/DIR END 3/21/23 CFO END 5/19/23 50.00 2.00 X X 201857 0 17893 DAVID ATKINSON CFO/TREAS END 3/23; CAO END 7/23 50.00 2.00 X 551889 0 25789 MATTHEW REYNOLDS CFO/TREASURER 50.00 2.00 X 226955 0 41299 JOE MILLER VP SIGNAL DEVELOPMT/ASST TREASURER 50.00 2.00 X 287376 0 34815 SUSAN MYERS COUNSEL/SECRETARY 50.00 2.00 X 224527 0 18401 DAVID PIERCE CHIEF MEDIA OFFICER 50.00 0.00 X 318393 0 35777 JAMES HOUSER SENIOR VP OF RADIO 50.00 0.00 X 283522 0 43345 EDWIN RICE CHIEF TECHNOLOGY OFFICER 50.00 0.00 X 255249 0 43323 KRISTINA MILLER CHIEF PEOPLE OFFICER END 1/5/24 50.00 0.00 X 297233 0 32077 JANET CHERRY CHIEF TRANSITION OFFICER END 7/31/23 50.00 0.00 X 552972 0 41438 JARROD GRAETZ VP STREAMING/INTL GROWTH END 12/23 50.00 0.00 X 262973 0 37888 SAM WALLINGTON VP OF OPERATIONS AND ENGINEERING 50.00 0.00 X 266158 0 43730 MICHAEL MCCALL CHIEF ENGAGEMENT OFFICER END 8/11/23 50.00 0.00 X 254322 0 9811 SCOTT SMITH KLOVE AIR TALENT 50.00 0.00 X 245642 0 40329 SHAINE GRIESHABER SEC END 5/25/22 EVP GGR END 12/31/22 50.00 2.00 X 219586 0 0 5032707 0 526532 170 1 1 0 BRASFIELD & GORRIE LLC 1201 DEMONBREUN ST STE 200 NASHVILLE TN 37027 CONSTRUCTION SERVICES 81132937 LOOKINGPOINT INC 391 TAYLOR BLVD STE 120 PLEASANT HILL CA 94523 SOFTWARE/HARDWARE SUPPORT 2116547 DUNHAMCOMPANY 6111 W PLANO PKWY STE 2200 PLANO TX 75093 CONSULTING & PROJECT MANAGEMENT 1970290 BRADFIELD STAGE LIGHTING 620-A DAVIDSON ST NASHVILLE TN 37213 CONSTRUCTION SERVICES 1142959 HASTINGS ARCHITECTURE LLC 225 POLK AVE STE 100 NASHVILLE TN 37203 ARCHITECTURE SERVICES 941109 69 220279531 484731 220279531 BUSINESS UNDERWRITING 541800 4577380 4191425 385955 4577380 7354082 7354082 480436 258321 222115 222115 25626 196489 264869504 2613101 266752962 1819312 -1883458 793789 -1089669 -1089669 885070 313250 571820 571820 CONCERT TOURS 711300 6137458 6137458 FILM REVENUE 512000 426482 426482 3769953 185754 3584199 10333893 242249152 11512939 3995780 6460902 43950 43950 3584386 929161 2527604 127621 45295074 30216344 11133529 3945201 1582592 1055747 389001 137844 9997969 6669645 2457501 870823 3601774 2402743 885316 313715 360000 294012 41292 24696 1867471 1867471 450435 450435 146760 146760 1866084 1866084 763999 763999 3167824 1222663 836670 1108491 4598837 4105016 493821 2888623 1767047 492202 629374 4535234 4535234 100631 100631 2534422 1812964 505020 216438 1920003 1447201 264423 208379 48230 48230 566298 565934 364 10635706 10110361 525345 612278 612278 NETWORK OPERATIONS 28582144 28582144 ENGINEERING 13529205 10560431 2257390 711384 PROGRAMMING AND CONTENT 5161515 5128094 32182 1239 BANKING AND CASH PROCES 3442751 3442751 2665774 1457074 1114415 94285 154549969 108901380 34899194 10749395 X 2484257 1335484 238828 909945 13645844 13158143 117471482 13675380 13818659 7227541 4001171 3669011 2075046 2777526 2014851 2140986 5113473 9811605 293648950 111883808 86189344 181765142 119191350 194163785 5459601 5895806 615730800 631885240 61535970 58800995 1046247591 1124971160 34265354 27426629 0 122067 14718491 13153083 52007467 54103349 100991312 94805128 X 910048599 1002295616 35207680 27870416 945256279 1030166032 1046247591 1124971160 X 87699183 7905581 -10695011 X X 0 1 X 1 0 X 195249074 209061279 241047367 231285801 220279531 1096923052 195249074 209061279 241047367 231285801 220279531 1096923052 1096923052 2411511 1677943 2311419 3160850 7550571 17112294 101710 61131 71285 260932 464406 959464 1632572 700252 322891 1618613 2395670 6669998 1121664808 21616464 0.97790 0.98330 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: PROMOTIONAL INCOME - 2019 AMOUNT: $ 1,632,572. 2020 AMOUNT: $ 700,252. 2021 AMOUNT: $ 322,891. 2022 AMOUNT: $ 1,618,613. 2023 AMOUNT: $ 2,395,670. 0 0 0 0 0 0 1 120000 0 1 26760 146760 0 PART II-B, LINE 1: EMF, THROUGH ITS MEMBERSHIP IN THE NATIONAL ASSOCIATION OF BROADCASTERS AND THE NATIONAL RELIGIOUS BROADCASTERS, IS MAINTAINING AWARENESS OF OUR ORGANIZATION AND ITS MISSION WITH MEMBERS OF THE LEGISLATURE AND OTHER GOVERNMENTAL OFFICIALS. 17407084 1472779 2532305 309703 75292 21027173 19078701 1570046 -2944399 226007 71257 17407084 15566895 2042704 1687736 146512 72122 19078701 12684467 1216074 1806725 80607 59764 15566895 9697896 1017768 2022591 53788 12684467 0.61360 0.38640 0.00000 1 0 14170872 14170872 19581430 7250551 12330879 1875811 570679 1305132 114705599 76822850 37882749 143315238 27239728 116075510 181765142 INVESTMENT IN FILMS 3646171 RIGHT OF USE ASSET 53579212 OTHER DEPOSITS 1575612 58800995 LEASE LIABILITY 54103349 54103349 X PART V, LINE 4: THE EDUCATIONAL MEDIA FOUNDATION ENDOWMENT WAS ESTABLISHED TO HELP FUND THE GROWTH AND FUTURE OF THE ORGANIZATION AND ITS MISSION TO CREATE COMPELLING EDUCATIONAL MEDIA THAT INSPIRES AND ENCOURAGES PEOPLE TO HAVE A MEANINGFUL RELATIONSHIP WITH JESUS CHRIST. PART X, LINE 2: EMF IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. EMF HAS NOT ENTERED INTO ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. EMF DOES ENTER INTO UNRELATED TRADE OR BUSINESS ACTIVITIES THAT RESULT IN UNRELATED BUSINESS INCOME. HISTORICALLY, THE EXPENSES ASSOCIATED WITH THIS UNRELATED BUSINESS INCOME EXCEED THE INCOME. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS RECORDED IN THE ACCOMPANYING CONSOLIDATED STATEMENT OF ACTIVITIES. X X X X 1 DUNHAM COMPANY 6111 W PLANO PARKWAY SUITE 2200 PLANO TX 75093 PLEDGE DRIVE COACHING AND DIRECT MAIL APPEALS 0 54791163 1866084 52925079 54791163 1866084 52925079 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WI WV WY PART I, LINE 2B, COLUMN (V) DUNHAM + COMPANY WAS PAID $2,919,345 FOR THE PERFORMANCE OF PLEDGE DRIVE CONSULTING WORK AND DIRECT MAIL APPEALS CONSULTING WORK IN CONNECTION WITH EMF FUNDRAISING EFFORTS. THE AMOUNT DISCLOSED IN FORM 990, SCHEDULE G, PART I, LINE 2(B)(V) REPRESENTS DUNHAM + COMPANY'S TOTAL BILLINGS REDUCED BY THE REIMBURSEMENTS FOR TRAVEL, PRINTING AND MAILING SERVICES (TOTALING 1,053,261). EMF DID NOT HAVE ANY ARRANGEMENTS WITH FUNDRAISERS UNDER WHICH IT MADE PAYMENTS EXCLUSIVELY FOR FUNDRAISING ADMINISTRATIVE EXPENSES BUT NOT FOR PROFESSIONAL FUNDRAISING SERVICES. EMF DOES NOT ENGAGE IN GAMING ACTIVITY. GROSS RECEIPTS FROM FUNDRAISING ACTIVITY WERE DETERMINED USING DATA ACCUMULATED DURING OUR SEMI-ANNUAL PLEDGE DRIVES, DURING WHICH THE ORGANIZATION LISTED PROVIDED "PROFESSIONAL SERVICES". 1 CHRISTIAN MUSIC BROADCASTERS INC PO BOX 241871 LITTLE ROCK AR 72223 710928762 501(C)(3) 35000 0 CHRISTIAN MEDIA NAB LEADERSHIP FOUNDATION 1 M ST SE WASHINGTON DC 20003 521866840 501(C)(3) 8950 0 CHRISTIAN MEDIA 2 PART I, LINE 2: EACH RECIPIENT CHARITY MUST HAVE QUALIFIED PUBLIC CHARITY STATUS AND RECEIVE BOARD APPROVAL. X X 1 1 X X X X X X 1 0 0 0 0 0 0 1 0 JANET CHERRY CHIEF TRANSITION OFFICER END 7/31/23 189672 0 177446 0 185854 0 9853 0 31585 0 594410 0 0 0 DAVID ATKINSON CFO/TREAS END 3/23; CAO END 7/23 185440 0 193167 0 173282 0 11883 0 13906 0 577678 0 0 0 TODD WOODS CEO/DIRECTOR END 5/15/24 380591 0 67000 0 5448 0 11643 0 33145 0 497827 0 0 0 DAVID PIERCE CHIEF MEDIA OFFICER 289207 0 7531 0 21655 0 12532 0 23245 0 354170 0 0 0 KRISTINA MILLER CHIEF PEOPLE OFFICER END 1/5/24 253130 0 25725 0 18378 0 10907 0 21170 0 329310 0 0 0 JAMES HOUSER SENIOR VP OF RADIO 234894 0 30122 0 18506 0 10200 0 33145 0 326867 0 0 0 JOE MILLER VP SIGNAL DEVELOPMT/ASST TREASURER 270334 0 950 0 16092 0 11570 0 23245 0 322191 0 0 0 SAM WALLINGTON VP OF OPERATIONS AND ENGINEERING 245539 0 0 0 20619 0 10585 0 33145 0 309888 0 0 0 JARROD GRAETZ VP STREAMING/INTL GROWTH END 12/23 192375 0 0 0 70598 0 4743 0 33145 0 300861 0 0 0 EDWIN RICE CHIEF TECHNOLOGY OFFICER 242646 0 0 0 12603 0 10178 0 33145 0 298572 0 0 0 SCOTT SMITH KLOVE AIR TALENT 160260 0 500 0 84882 0 7184 0 33145 0 285971 0 0 0 MATTHEW REYNOLDS CFO/TREASURER 197231 0 0 0 29724 0 8154 0 33145 0 268254 0 0 0 MICHAEL MCCALL CHIEF ENGAGEMENT OFFICER END 8/11/23 160411 0 27096 0 66815 0 8522 0 1289 0 264133 0 0 0 SUSAN MYERS COUNSEL/SECRETARY 185291 0 500 0 38736 0 7794 0 10607 0 242928 0 0 0 MICHAEL LEWIS PRES/DIR END 3/21/23 CFO END 5/19/23 153885 0 0 0 47972 0 8034 0 9859 0 219750 0 0 0 SHAINE GRIESHABER SEC END 5/25/22 EVP GGR END 12/31/22 0 0 0 0 219586 0 0 0 0 0 219586 0 0 0 PART I, LINE 1A ON OCCASION, THE WIFE OF THE CEO ACCOMPANIED HIM ON BUSINESS TRIPS TO MEET WITH DONORS. IMMATERIAL SPOT BONUSES AND RELOCATION EXPENSES WERE PAID DURING THE YEAR TO KEY EMPLOYEES ON A GROSSED-UP BASIS. PART I, LINE 3 EXPLANATION PROVIDED UNDER FORM 990, PAGE 6 - OFFICER'S COMPENSATION SECTION. PART I, LINE 4A DAVID ATKINSON - $126,880 SEVERANCE PAY SHAINE GRIESHABER - $219,586 SEVERANCE PAY JANET CHERRY - $132,388 SEVERANCE PAY JARROD GRAETZ - $13,219 SEVERANCE PAY PART I, LINE 7 ALL OFFICERS AND KEY EMPLOYEES LISTED ON FORM 990, PAGE 7, PART VII, SECTION A, RECEIVED DISCRETIONARY BONUSES AS DETERMINED BY THE ACHIEVEMENT OF GOALS, RESULTS AND CONTRIBUTIONS TO EMF KEY INITIATIVES. X 36 457731 FAIR MARKET VALUE X TRANSMITTER 2 27000 FAIR MARKET VALUE 0 1 0 FORM 990, PART I, LINE 1 CREATE AND DISTRIBUTE QUALITY AND COMPELLING MEDIA THAT INSPIRES AND ENCOURAGES PEOPLE TO HAVE A MEANINGFUL RELATIONSHIP WITH JESUS CHRIST THROUGH K-LOVE RADIO NETWORK; AIR1 RADIO NETWORK; WTA MEDIA, LLC (WTA); ACCESSMORE PODCASTING; K-LOVE ONDEMAND; K-LOVE BOOKS; AND K-LOVE FILMS. EDUCATIONAL MEDIA FOUNDATION (EMF) MEDIA CHANNELS INCLUDE RADIO, FILM, LITERATURE, PODCASTING, AND DIGITAL CONTENT. EMF HAS FULFILLED ITS EDUCATIONAL AND RELIGIOUS MISSION PRIMARILY THROUGH RADIO BROADCASTING, WHILE INTRODUCING OTHER MEDIA (AS ITS NAME CONNOTES) OVER TIME. IN 2023, EMF CONTINUED TO FULFILL ITS MISSION BY EXPANDING INTO AND INCREASING ITS PARTICIPATION IN BIBLICALLY-BASED FILM PRODUCTION, MARKETING, AND DISTRIBUTION. IN ADDITION, EMF CONTINUED TO INVEST IN FAITH-BASED BOOK PUBLISHING, MARKETING, AND DISTRIBUTION THROUGH EMF PUBLISHING, LLC. EMF WILL CONTINUE TO FULFILL ITS EDUCATIONAL AND RELIGIOUS PURPOSES PRIMARILY THROUGH TERRESTRIAL RADIO, STREAMING, PODCASTING, PUBLISHING, AND VIDEO, WHILE EXPLORING NEW MEDIA OPPORTUNITIES. PART III, LINE 1 CREATE AND DISTRIBUTE QUALITY AND COMPELLING MEDIA THAT INSPIRES AND ENCOURAGES PEOPLE TO HAVE A MEANINGFUL RELATIONSHIP WITH JESUS CHRIST THROUGH K-LOVE RADIO NETWORK; AIR1 RADIO NETWORK; WTA MEDIA, LLC (WTA); ACCESSMORE PODCASTING; K-LOVE ONDEMAND; K-LOVE BOOKS; AND K-LOVE FILMS. EMF MEDIA CHANNELS INCLUDE RADIO, FILM, LITERATURE, PODCASTING AND DIGITAL CONTENT. EDUCATIONAL MEDIA FOUNDATION (EMF) HAS FULFILLED ITS EDUCATIONAL AND RELIGIOUS MISSION PRIMARILY THROUGH RADIO BROADCASTING, WHILE INTRODUCING OTHER MEDIA (AS ITS NAME CONNOTES) OVER TIME. IN 2023, EDUCATIONAL MEDIA FOUNDATION CONTINUED TO FULFILL ITS MISSION BY EXPANDING INTO AND INCREASING ITS PARTICIPATION IN BIBLICALLY-BASED FILM PRODUCTION, MARKETING AND DISTRIBUTION. IN ADDITION, EMF CONTINUED TO INVEST IN FAITH-BASED BOOK PUBLISHING, MARKETING AND DISTRIBUTION THROUGH EMF PUBLISHING, LLC. EMF WILL CONTINUE TO FULFILL ITS EDUCATIONAL AND RELIGIOUS PURPOSES PRIMARILY THROUGH TERRESTRIAL RADIO, STREAMING, PODCASTING, PUBLISHING, AND VIDEO, WHILE EXPLORING NEW MEDIA OPPORTUNITIES. 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 THEIR REVIEW IS COMPLETE, 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 A CONFLICT-OF-INTEREST STATEMENT THAT IMPOSES AN ON-GOING OBLIGATION TO DISCLOSE ANY CONFLICTS THAT MIGHT ARISE. IN THE EVENT AN EMPLOYEE HAS 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 B, LINE 15 THE COMPENSATION OF THE CEO AND CFO IS UNDER THE DIRECTION OF THE INDEPENDENT BOARD OF DIRECTORS. IN 2022 AN INDEPENDENT COMPENSATION STUDY WAS COMPLETED BY SMITH PILOT THAT INCLUDED AN INDEPENDENT REVIEW OF COMPENSATION AND BENEFITS OF THE TOP EXECUTIVES AT EDUCATIONAL MEDIA FOUNDATION, INCLUDING THE CEO AND CFO IN EXECUTIVE SESSION (WITHOUT THE CEO AND CFO PRESENT) TO APPROVE THEIR SALARIES UTILIZING THE DATA PROVIDED. THIS STUDY WAS UPDATED AND APPLIED FOR 2022-2023. THE COMPENSATION OF OTHER OFFICERS AND OTHER KEY EMPLOYEES IS ESTABLISHED BY THE CEO AND APPROVED OVERALL BY THE BOARD. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS AND CONFLICTS OF INTEREST POLICY, AS WELL AS OTHER PERTINENT DOCUMENTS ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE; CERTAIN FINANCIAL DATA IS ALSO AVAILABLE ON GUIDESTAR'S AND ECFA'S WEBSITES. FORM 990, PART XI, LINE 9: IMPAIRMENT CHARGE ON FCC RADIO LICENSES -10,710,102. CONSOLIDATION ADJUSTMENTS 15,091. FORM 990, PART XII, LINE 2C: PROCESS IS UNCHANGED FROM PRIOR YEAR. EMF PROPERTY HOLDINGS LLC 5700 WEST OAKS BLVD ROCKLIN CA 95765 270169778 HOLDING COMPANY FOR NON-CASH DONATIONS (PROPERTY) CA 110 EDUCATIONAL MEDIA FOUNDATION KLOVE-AIR1 EVENTS LLC 5700 WEST OAKS BLVD ROCKLIN CA 95765 461469221 SPECIAL EVENTS/PROMOTIONS CA 6569312 7747959 EDUCATIONAL MEDIA FOUNDATION CRISIS RESPONSE LLC 5700 WEST OAKS BLVD ROCKLIN CA 95765 851720199 CRISIS RESPONSE TRAINING & COMMUNITY SERVICE CA 353341 62174 EDUCATIONAL MEDIA FOUNDATION EMF PUBLISHING LLC 5700 WEST OAKS BLVD ROCKLIN CA 95765 851974972 PUBLISHING, DISTRIBUTION AND SALE OF FAITH-BASED LITERATURE & RELATED PRODUC DE 885071 1033092 EDUCATIONAL MEDIA FOUNDATION DARE II DREAM LLC 5700 WEST OAKS BLVD ROCKLIN CA 95765 852881125 SCHOOL ASSEMBLY PROGRAM CA 1000 45228 EDUCATIONAL MEDIA FOUNDATION EMF TN PROPERTY HOLDINGS LLC 5700 WEST OAKS BLVD ROCKLIN CA 95765 883210272 HOLDING COMPANY FOR REAL ESTATE - TN CA 60714 134576432 EDUCATIONAL MEDIA FOUNDATION EMF CORPORATION 5700 WEST OAKS BLVD ROCKLIN CA 95765 262472472 SUPPORTING ORG DE 501(C)(3) LINE 12A, I EDUCATIONAL MEDIA FOUNDATION 1 KLOVE & AIR1 FOUNDATION 5700 WEST OAKS BLVD ROCKLIN CA 95765 266579467 SUPPORTING ORG DE 501(C)(3) LINE 12A, I EDUCATIONAL MEDIA FOUNDATION 1 K-LOVE INC 2000 REAMS FLEMING BOULEVARD FRANKLIN TN 37067 990434313 CHRISTIAN RADIO BROADCASTING TN 501(C)(3) LINE 12A, I N/A 0 EL DORADO LICENSES INC 5700 WEST OAKS BLVD ROCKLIN CA 95765 203617900 FCC LICENSEE KS EDUCATIONAL MEDIA FOUNDATION C 1.00000 1 SAN JOAQUIN BROADCASTING CO 5700 WEST OAKS BLVD ROCKLIN CA 95765 460868363 FCC LICENSEE CA EDUCATIONAL MEDIA FOUNDATION C 1.00000 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 1 1 1 0 0 KLOVE & AIR1 FOUNDATION M 360000 FEES CHARGED FOR SERVICES KLOVE & AIR1 FOUNDATION Q 176813 EXPENSES INCURRED EL DORADO LICENSES INC D 55224 AMOUNT PAID ON BEHALF OF REL. ORG SAN JOAQUIN BROADCASTING CO D 96752 AMOUNT PAID ON BEHALF OF REL. ORG KLOVE & AIR1 FOUNDATION B 425000 FUNDING CONTRIBUTED FOR PROJECT