American Baptist Foundation

“The organization's form 990 is reviewed by the president who is assisted in the process by the business manager before filing with the irs.”

“All employees are required to sign a conflict of interest statement. Compliance with this policy is monitored on a consistent basis by the board of directors. If any potential conflict arises, the board immediately makes it known to the person(s) involved.”

“The compensation of the president and other organization officers is determined by the board of directors using all relevant information that is readily available.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“Distributions from endowment -2,438,491. Change in value of split interest agreements -440,904.”

“The organization has a committee that assumes responsibility for the oversight of the audit of its financial statements and the selection of an independent auditor. The process has not changed from the prior year.”

“An amended form 990 is being filed for the year ended december 31, 2016. The return is being amended due to the fact that the original form was filed using audited financial statements which were not finalized. The financial statements were finalized on march 13, 2018, which is subsequent to the november 15, 2017 extended filing deadline for the form 990. There were a few numbers on the final audited financial statements that changed from the numbers shown on the draft financial statements that were used to prepare the original form 990. Summary of changes to the form 990: 1. Part viii, statement of revenue: total contributions on line 1h increase from $2,272,836 to $2,551,511; total program service revenue on line 2g increases from $810,866 to $907,149; investment income on line 3 increases from $2,152,926 to $2,333,875; miscellaneous income on line 11a decreases from $25,001 to $101. This results in an increase in total revenue on line 12 from $5,487,049 to $6,018,056. 2. Part ix, statement of functional expenses: other salaries and wages on line 7 increase from $382,789 to $414,744; pension on line 8 decreases from $80,869 to $80,717; other employee benefits on line 9 increase from $83,819 to $95,064; payroll taxes on line 10 decrease from $142,836 to $110,880; miscellaneous expenses on line 24 increase from $13,615 to $50,408. Total expenses on line 25 increase from $2,165,247 to $2,213,132. 3. Part x, balance sheet: savings and temporary cash investments on line 2 increase from $1,242,860 to $4,829,224; accounts receivable on line 4 increase from $85,905 to $244,438; notes and loans receivable on line 7 increase from $0 to $513,944; land, buildings,and equipment on line 10c increase from $3,803 to $3,804; investments-publicly traded securities on line 11 decrease from $134,539,224 to $129,581,569; investments-other securities on line 12 increase from $192,871 to $223,715. Total assets on line 16 decrease from $136,299,663 to $135,631,694; accounts payable on line 17 decrease from $500,560 to $399,911; other liabilities on line 25 decrease from $87,204,843 to $86,057,388. Total liabilities on line 26 decrease from $87,705,403 to $86,457,299. Unrestricted net assets on line 27 increase from $2,593,235 to $4,825,917; temporarily restricted net assets on line 28 decrease from $4,625,218 to $2,857,538; permanently restricted net assets increase from $41,375,807 to $41,490,940. Total net assets on line 33 increase from $48,594,260 to $49,174,395. 4. Schedule d, part v, endowment funds: net investment earnings on line 1c increased from $2,047,196 to $2,426,562. End of year endowment balance increased from $43,973,124 to $44,352,490. 5. Schedule d, part vi, land, buildings, equipment: accumulated depreciation in column (c) decreased from $13,503 to $13,502 resulting in an increase in book value from $3,803 to $3,804. 6. Schedule d, part x, other liabilities: annuity actuarial liability decreased from $5,229,295 to $4,959,552; funds of others decreased from $81,975,548 to $81,097,836. 7. Schedule d, part xi, reconciliation of revenue per audited financial statements with revenue per return: line 1, total revenue, gains and other support per audited financial statements increased from $5,637,461 to $6,123,059; line 2a, net unrealized gains (losses) on investments increased from $150,412 to $545,907; line 2d, other decreased from $0 to -$440,904. 8. Schedule d, part xii, reconciliation of expenses per auditied financial statements with expenses per return: line 1, total expenses and losses per audited financial statements decreased from $4,746,160 to $4,651,623; line 2d, other decreased from $2,580,913 to $2,438,491.”