Jacobs Well Ministries Inc

“Our Founders were Charlie L. Haynes and his wife Pamela Haynes. Once they started Jacob's Well, they brough their children to help grow the ministry. Susan Johnson and Tammy Tubman are Siblings. Jacob Brogan is Susan's son.”

“The Board of Directors are given copies of the 990 along with consolidated financial statements that has been reviewed by the Executive Committee before brought to the Board.”

“The Bylaws of Jacob's Well Ministries Inc gives the Human Resources Department the power to investigate and regulate any conflict of interest that may occur.”

“The Board of Directors reviews compensation packages at the end of each fiscal year. The President and Director of Human Resources conduct yearly performance reviews. Any results or recommendations are brought before the Board to identify any changes in employee compensation packages. The organizations Bylaws prohibit any officer from being involved in decisions regarding their own compensation.”

“All financial documents are available on nonprofit directory websites and on request by us.”

“Effective for the fiscal year beginning June 1, 2024, Jacob's Well Ministries transitioned from the cash basis of accounting to the accrual basis of accounting for financial reporting and Form 990 reporting purposes. This change was made to provide a more complete and accurate presentation of the organization's financial position and activities, including the recognition of receivables, payables, and depreciation of long-term assets. The accrual basis of accounting better reflects the timing of revenues earned and expenses incurred during each fiscal period, aligning with generally accepted accounting principles (GAAP) and enhancing comparability across fiscal years. This is the first year the organization's Form 990 has been prepared on the accrual basis.”