Cove Endowment Trust Fund

“The fund is governed by the board of directors of the related organization billy graham evangelistic association. The association pursuant to its bylaws has appointed an executive committee of ten members, to include the president/ceo and four members who are non-voting emeritus board members. The committee chairman is an independent board member. The executive committee holds periodic meetings between the board of directors meetings to act on behalf of the board of directors, except for matters precluded by the bylaws. The full board of directors ratifies any actions taken by the executive committee.”

“Billy graham wm. Franklin graham, iii chairman bd pres/ceo family relationship billy graham wm. Franklin graham, iv chairman bd director family relationship billy graham anne graham lotz chairman bd director family relationship wm. Franklin graham, iii wm. Franklin graham, iv pres/ceo director family relationship wm. Franklin graham, iii anne graham lotz pres/ceo director family relationship anne graham lotz denton lotz director director family relationship”

“The board of directors of the billy graham evangelistic association, a related organization, acts as trustee for the purpose of administering the trust fund. Authority to make decisions affecting the administration of the trust fund is reserved to the billy graham evangelistic association board of directors.”

“The fund's return is prepared and reviewed by members of the staff including the legal department, internal audit, cfo, vp of corporate affairs, senior vice presidents, and the ceo of the related organization, billy graham evangelistic association. The return is then reviewed by the independent audit firm of cherry bekaert llp. The return is next reviewed by the audit committee and provided and receipt confirmed to the full board of directors before it is filed with the irs.”

“The fund is governed by the board of directors of the related organization billy graham evangelistic association. The association's conflict of interest policy covers all "responsible persons", which includes any board member, officer, divisional vice presidents or member of management staff who have a material financial interest in the transaction. Disclosure statements are submitted by these individuals on an annual basis, as well as throughout the year as a situation may arise. A summary of potential conflicts disclosed by board members, officers and divisional vice presidents is reported to the board audit committee for review. Restrictions imposed on persons involved in transactions with a potential conflict include prohibiting them from participating in the board of directors or committee deliberations and approval of the transaction. Throughout the year, internal audit and legal staff monitor the addition of new board members and the hiring of new employees whose position may allow them to have a material financial interest in a transaction. Disclosure statements are requested and received from these individuals. Potential conflicts, if any, are reported to the board audit committee. The process for review of transactions with potential conflicts varies based on the individual with the conflict. If a person is a staff member and is not a disqualified person, any proposed transaction that may be a conflict of interest must be reviewed and approved by the ceo or his designee. All material terms and conditions of the transaction shall be described in writing and provided to the ceo prior to entering into the transaction. The ceo will review the transaction to determine if it is fair and in the best interest of the association. If the person with the potential conflict of interest is a disqualified person, the responsible person will provide all material terms and conditions to the ceo in writing. The ceo will forward such information to the compensation committee chairman for review and decision by the compensation committee prior to consummation of the transaction. The transaction shall only be permitted if the compensation committee determines that: the conflicting interest is fully disclosed; the responsible person with the conflict is excluded from the discussion and approval of such transaction by the compensation committee; and the transaction is fair and in the best interest of the association by the use of a comparable valuation or competitive bid. The compensation committee chairman will present the material facts of the transaction to the full board of directors for ratification. If the ceo or his family is the one with the potential conflict of interest, then the initial disclosure shall be made directly to the compensation committee chairman by the vice president of corporate affairs. Using the same criteria listed above, the compensation committee will review and decide if the transaction is fair and in the best interests of the association. The compensation committee chairman will present the material facts of the transaction to the full board of directors for ratification. If the conflict involves a grant, payment or benefit to another 501(c)(3) organization within the exempt purposes of the association, the material terms of such transactions will be submitted to the finance committee for review at such committee's periodic meetings and annually submitted to the board of directors for review and ratification.”

“Although the fund does not have any employees, in the event that it hires any employees, the process for determining compensation will include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision. As for the compensation paid by the related organization billy graham evangelistic association, the board of the association has appointed a compensation committee who reviews the compensation of its officers and key employees, and bases the compensation on comparability data as described in the form 990 for billy graham evangelistic association.”

“See the response for 15a.”

“The fund's trust document, conflict of interest policy, and audited financial statements are provided upon request and available for inspection at our office in charlotte, nc.”

“The reportable compensation for billy graham includes an amount paid by the related organization, billy graham evangelistic association for support costs of 57,735 for dr. Billy graham that are required for him to continue to serve and perform his duties and responsibilities for the billy graham evangelistic association, as approved by the board of directors. The other compensation reported in column f includes minister's housing allowance paid by the related organization, billy graham evangelistic association, which is non-taxable for the following persons: billy graham, david p. Bruce, wm. Franklin graham, iv, and clifford b. Barrows.”

“Part i, line 1, and part iii, line 1 since 1988, the billy graham training center at the cove has been training christian leaders and lay people to study god's word, the bible, and share his good news across the globe. We believe that the problems facing our world today - economically, politically, and racially - are the direct result of human sin. The bible, which we believe is the only inspired work of god, states that "all have sinned and fall short of the glory of god" (romans 3:23). Sin separates us from god: "the wages of sin is death" (romans 6:23), and as a result, the whole earth and everything in it are under god's curse. There is good news, and we proclaim it to anyone and everyone who will hear. God sent his son, jesus christ, from heaven to earth to take our sins upon himself. He paid the penalty for our sins by dying in our place on the cross, and then he rose again to life. Jesus opened the way for us to know god. We believe that jesus is the only way to god, and he said himself, "i am the way and the truth and the life. No one comes to the father except through me" (john 14:6). No other lifestyle, religion, or philosophy can bring you to god. As a ministry of the billy graham evangelistic association, everything we do proclaims this profound truth and invites men, women, and children across the globe to turn from their sin and find forgiveness and eternal life in jesus christ. If you do not have peace with god, you can find it right now. Simply pray this prayer and receive jesus christ as your lord and savior: "dear lord jesus, i know that i am a sinner, and i ask for your forgiveness. I believe you died for my sins and rose from the dead. I turn from my sins and invite you to come into my heart and life. I want to trust and follow you as my lord and savior. In your name, amen". If you prayed this prayer - or would like to speak with someone about spiritual questions - please call us at 1-877-247-2426. We have some materials we would like to send to help you on your journey of faith.”

“The volunteers listed for the fund are the board of directors who are non- employees.”