Walking the Text

“Line 1a: There are 6 members of the governing body although the three directors Brad Gray (CEO & President), Marcus Naugler (Creative Director), and Brad Nelson (Content Director) do not have voting rights. President Brad Gray will cast a vote in the case of a tie. Our governing bylaws were revamped to reflect this.”

“Line 2: The Executive Director/Officer Brad Gray and Board Member Director Gary Gray are related in that Brad is Gary's son.”

“Line 4: The governing bylaws were updated to reflect new members of the body in addition to clarify better our governing structure.”

“Line 9: Gary Gray 2701 Pfister Hwy Adrian MI 49221 Richard Lyons 6712 Bryant Ave Holland MI 49423 Nathan Young PO Box 550 Douglas MI 49406 Marcus Naugler 846 Rands Way Columbia TN 38401 Brad Nelson 1050 Fleur De Lac Ln Greensboro GA 30642-4005”

“Line 11b: Form 990 was completed initially by the in-house bookkeeper and then reviewed by Jason Darby CPA with Darby & Associates, LLC, 5000 Idaho Dr, Spring Hill TN 37174 Additionally, 2022 audit was completed by Capin Crouse.”

“Form 990, Part VI, Section B, Line 12-15: We are currently in the process of drafting the mentioned policies including conflict of interest, whistleblower, document retention, gift acceptance, accounts procedures and policies, employee handbook, board conflict of interest policy. All of these will be completed in 2023. The process for determining compensation of top officials is voted on by the board prior to the years end budget meeting an approval. Gary Gray does not vote on the salary of Brad Gray since they are related. Board members use compatibility date to determine comparable salaries to top officials.”

“Line 19: All documents and policies are available to all board members, directors, officers, and the public upon request. Some information is available online on our website www.walkingthetext.com but additional information is available upon request. Public information can be accessed by searching Federal and State non-profit charitable organization search websites.”

“Line 1a: Our governing body was restructured and several members official titles/roles were changed to reflect an official change in the bylaws. Shallon Gray was previously listed as Treasurer and has moved to the title of Finance Manager. Board Member Rick Lyons has assumed the title and role of Treasurer and Vice Chair. Nate Young has assumed the role of Board Chair. Gary Gray has assumed the role of Secretary. Brad Gray continues his role as CEO & President, Brad Nelson continues at Content Director, and Marcus Naugler continues as Creative Director.”

“Line 1b: Column F line 1b/d reflect the amount given to Directors for HRA reimbursement benefits.”

“Line 1: Evolve Studios is the production company we are working with to develop the television docuseries The Sacred Thread. We will continue to work with them in order to produce the remainder of Season 1 in 2023/24. We have plans to produce up to 7 seasons and thus will require significant funds payable to them to produce the show. Funds paid to them are capitalized as intangilbe assets.”

“Line 1f: Of these total contributions, $724,045 was specifically earmarked for the upcoming video series we are producing beginning 2021. These funds will cover the program, management, and production costs for a portion of Season 1 of The Sacred Thread. In addition, $89949 of these were specifically earmarked (and released) for scholarships for study trips.”

“We hosted two Infusion Bible Conferences this year and at each event we had volunteers help with greeting, registration, snacks, help desk, etc. The total number of volunteers for the two events was about 40 people. Volunteers were able to attend the conference for free.”

“Line 2: $91320 was given to a total of 22 individuals for assistance on study trips to Israel and Turkey. We received a significant amount of funding specifically designated for scholarships this year as compared to previous years.”

“Line 9: $11050 paid towards HRA for employee Brad Gray, $7606 paid towards HRA for employee Marcus Naugler, and $11050 paid towards HRA for employee Brad Nelson for a total of HRA Benefits of $29706.”

“Line 11b: $1347 for general legal services”

“Line 11g: $12280 website development expenses, $35702 paid to contractors for help with events, writing, content development, etc.,”

“Line 13: $2247 office supplies and shipping, $100 other business expenses for a total of $2347.”

“Line 17: $8404 travel, $(68.02) credit reimbursable travel expenses, $1498 meals/entertainment for a total of $9834”

“Line 19: $92566 expenses for Infusion Bible conferences held in Tennessee and Colorado this year”

“Line 24e: $14,718 for costs related to production, development, management, and legal fees for new filming project; $1118 for studio and set design, $4529. adjustment to retained earnings, $3498 for miscellaneous equipment expense for a total of $23863”

“Line 14: Reclassified payments to Evolve Studios as intangible assets for payments for television series project The Sacred Thread Line 31/32: Film costs were capitalized per audit review so the net asset balance at the start of year was $571104 and increased by $645586 when those costs were capitalized. So the total retained earnings became $1216690 and is reflected in line 31 column B.”

“Form 990, Part X:Line 14: Reclassified payments to Evolve Studios as intangible assets for payments for television series project The Sacred Thread Line 31/32: Film costs were capitalized per audit review so the net asset balance at the start of year was $571104 and increased by $645586 when those costs were capitalized. So the total retained earnings became $1216690 and is reflected in line 31 column B. Form 990, Part XI: Line 9: See explanation above...other fund increase was reclassifying film costs as an intangilbe asset which increased funds by $645586.”

“Line 1: In house finances are done on cash basis however the audit was done using accrual. Line 2bc: This year we conducted an audit with Capin Crouse. Our Finance Manager Shallon Gray and outside accountant Jason Darby provided the necessary information and oversaw the audit. This is the first year we have conducted an audit compilation. The main accountant at Capin Crouse also presented the Board a review of the audit once it was completed. The audit is provided with form 990.”