Powerpoint Ministries

“Deb Graham and Jason Graham have a family relationship.”

“During the tax year, the Organization made significant changes to its governing documents. The revised governing documents reflect changes in the following areas of the Organization's governance: Corporation Purpose: The revised bylaws added the corporation purpose as follows: "To glorify God by introducing Jesus Christ as Lord to as many people as possible through television, radio, internet and other broadcast media and to develop them in Christian living using the most effective means to impact the world and to make a positive difference in this generation and generations to come." Board of Directors: The revised bylaws clarified the Board's general powers. The revisions allow for the expansion of the number of directors from 5 to a minimum of 8 and also require Board members to be active members of Prestonwood Baptist Church. Officers: The revised bylaws do not permit the compensation of corporate officers, other than the Executive Director, unless authorized by the Board. The revisions created a new officer position of Executive Director who shall be responsible for the operations of the Organization. Distribution of assets upon dissolution: The revised bylaws, and the amended Articles of Incorporation, provide that the assets of the Organization shall be distributed to Prestonwood Baptist Church upon dissolution.”

“The Organization's top management official and top financial official each review the Form 990 prior to its filing with the IRS. A copy of the final form 990 is also provided to the voting members of the Organization's governing body prior to its filing with the IRS.”

“The conflict of interest policy is distributed annually to each member of the governing body, the officers, and key employees. Each such individual provides an annual disclosure statement indicating that they have received, read, understood and agree to comply with the policy. The governing body regularly monitors compliance with the policy and takes action as needed.”

“The compensation committee meets annually to determine and set compensation levels. The deliberations and decisions of the committee are documented in the minutes of the committee meeting. In its deliberations and decisions, the committee utilizes appropriate information regarding compensation amounts paid for comparable positions in comparable organizations. These procedures are followed to ensure that the compensation for the Organization's key leaders are reasonable and appropriate.”

“Copies of the organization's governing documents, financial statements, and Form 990 are available upon request.”

“An audit of the Organization's financial statements is conducted annually by an independent certified public accounting firm, which has resulted in the issuance of an unqualified opinion. In addition, the Organization is a fully accredited member of the Evangelical Council for Financial Accountability (ECFA) and, as such, subscribes to ECFA's Seven Standards of Responsible Stewardship addressing: (1) operation in conformity with the Organization's evangelical Christian doctrinal statement, (2) oversight by a Board of Directors, the majority of which are independent, (3) submission of complete, accurate, audited financial statements, (4) proper management and financial controls over the use of the Organization's resources, (5) public availability of the Organization's current financial statements upon written request, (6)avoidance of conflicts of interest, and (7) responsible, truthful fund-raising practices.”

“The other compensation of $36,000 reported for Scott Seal is a ministerial housing allowance under IRC Section 107.”

“The Organization's Board of Directors, or a committee thereof, assumes reponsibility for the oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed from the prior year.”