Ksbj Educational Foundation Inc

“The Corporation shall have an Executive Committee, which is a Board committee, consisting of the Board Chair, Board Vice Chair, Board Finance Chair, Board HR Chair and President/CEO. The Board Chair shall chair the Executive Committee. Subject to limitations applicable to committees, generally, and as set forth in Section 4.21 of these Bylaws, the Executive Committee shall have full authority to exercise all the powers of the Board between meetings. However, all action taken by the Executive Committee shall be reported to the Board as soon as practicable, or at the first meeting subsequent to that action.”

“On May 19, 2022, the boards of directors of Hope Media Group and Way Media, Inc. a Tennessee nonprofit organization, finalized the merger of the two organizations to create a new entity effective May 20, 2022, continuing under the name Hope Media Group. Articles of Merger and restated and amended bylaws were filed. Directors and officers were newly appointed to Hope Media Group on the date of merger per the merger agreement. A new schedule of initial director terms was approved and implemented by the Board to stagger terms; upon completion of the initial director terms, terms are to be for three years. Post-merger the President/CEO became a voting member of the Board.”

“The Form 990 is prepared by an independent CPA firm. Upon completion, the return is reviewed by the VP of Accounting, CFO and then the CEO. Once an internal draft is finalized, an email with a pdf copy of the return is sent to the board for review. Once approved, the form is prepared for signature and electronic filing with the Internal Revenue Service.”

“The board members and officers of the organization are required to annually complete a commitment form that includes a statement of conflict of interest. In addition, board members and officers are required to annually complete a conflict of interest/related party questionnaire. The accounting department staff continually monitor vendors for compliance with the conflict of interest/related party policy. Should a conflict of interest exist, interested parties are required to recuse themselves from the decision-making process and subsequent vote.”

“The process for determining the compensation of the organization's President/CEO involves comparative salary surveys and is contingent on budget considerations. An independent compensation consultant is engaged for further input, and Forms 990 from similar organizations are analyzed. Recommendations are made by the HR committee and compensation packages are approved by a compensation committee, consisting of independent members of the board of directors. Documentation of deliberations and decisions are kept in the minutes. 15b: The process for determining the compensation of the organization's officers involves comparative salary surveys and is contingent on budget considerations. An independent consultant is engaged for further input and Forms 990 from similar organizations are analyzed. Recommendations are made by the HR committee and compensation packages are approved by a compensation committee, consisting of independent members of the board of directors. Documentation of deliberations and decisions are kept in the minutes.”

“The organization makes its governing documents, financial statements and conflict of interest policy available to the public at the organization's main office during normal business hours.”

“On May 19, 2022, the boards of directors of Hope Media Group and Way Media, Inc. a Tennessee nonprofit organization, finalized the merger of two organizations to create a new entity, effective May 20, 2022. The merged organization retained the name Hope Media Group. The merger combines each organization's rich 35+ year heritage to better serve an audience of more than 4 million individuals worldwide with positive multimedia content over both radio and digital. By aligning their efforts to create and share uplifting content, their newly merged media brands continue to be a beacon of hope for all. The merger realizes a vision of integrating the best of respective ministries to enhance their impact for the cause of Christ.”

“Merger - Transfer of Way Media net assets to HMG 25,568,986.”