Bible Study Time Inc.

“Dr. Freda crews william crews, jr. President sec./treas. Family relationship”

“A copy of the form 990 is not provided to the organization's governing body prior to filing. However, the governing body is provided with current financial reports at the annual board meeting. Prior to filing, a thorough review of the form 990 is performed by the president, chief in-house accountant, and by the organization's certified public accountant who prepares the form 990. This review also consists of a review of the current instructions pertaining to the form 990.”

“Annually, the organization requires officers, directors and key employees to sign the conflict of interest policy affirming that the person has received a copy of the conflicts of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands that the organzation is charitable and in order to maintain its federal exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. The purpose of the conflict of interest policy is to protect the organization's interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the organziation or might result in a possible excess benefit transaction. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of any financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, that person shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interests exists. After discussion, the governing board or committee shall determine by a majority vote of disinterested members whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with this determination it shall make its decision as to whether to enter into the transaction or arrangement.”

“The process used by bible study time, inc. To determine compensation for its top management official, in this case, president, is determined by independent board members elected to an executive compensation committee. The compensation determined by the committee was derived from a compensation study performed by an outside consultant. The compensation study was based on the analysis and research of compensation packages of comparable organizations. Subsequent compensation increases have been determined with consideration to cost-of-living adjustments.”

“The organization's process for determining compensation for its secretary/treasurer is determined by independent board members elected to an executive compensation committee. The committee determines his compensation based on his performance within the parameters of an employment agreement. The employment agreement provides for a base compensation to comprise the majority of his compensation with a part of his compensation contingent upon certain revenues of the organization.”

“Governing documents are made available to the public pursuant to written request. After receipt of any such requests, the organization will make disclosable documents available for inspection at the headquarters of bible study time, inc. During normal business hours.”

“The organization's mission is to spread the gospel of jesus christ to the world. Its mission is accompished as a church through regular church worship and prayer services, television and radio programming, including supporting other organizations' television and radio programming, preaching, teaching, counseling, pastoral care, and audio, print, and visual media publication.”

“Prior period adjustment -381,861 upon further consideration of several items contained in the compiled financial statements for bible study time, inc., it has been determined that net assets have been overstated for a period of several years. The overstatement resulted from discrepancies in reporting original issue discount and accrued interest purchased on taxable and tax-exempt bonds. In addition, in 2016, net investments in brokerage accounts was overstated by 145,000. This overstatement is the result of inadvertent error. The prior period adjustment brings the balance sheet into line with the assets listed in the compiled financial statements, and reflects a more accurate picture of the company's net assets.”