Wells of Love Inc.

Part I, line 16

“| Other Expenses:, Amount:| Outings and Events - This includes all expenses associated with youth outings community church events and other miscellaneous outings events. Examples of items in this category include our youth trip to Kings Island and our Easter egg hunt among others., $1405| Tithe - 10% of Wells of Loves income is given to other Christian non-profit organizations as this is in line with Biblical directives., $10870| Charitable Giving Other than Tithe - Represents giving made to or on behalf of church members or other individuals in need., $4464| Meals Expense - Represents church-paid meals for meetings between church leadership to discuss church business and for individual meetings with congregation members. Also represents food provided for volunteers who helped work on the renovation of our church building., $2452| Church food - Represents food water provided following our Wednesday night services every week. This food water is free to all the congregation in attendance., $7668| Travel Expense - Includes fuel costs associated with church activities which take place outside of the primary church location in Greendale IN along with meals when travel is long-distance. These activities are primarily prison ministry performed by the senior and associate pastors., $539| Ministry and Training - Represents educational and training materials for church leadership to better advance their knowledge of the Bible and ministry., $180| Supplies Expense - Includes necessary church supplies such as communion elements folding tables decorations kids church supplies etc., $6690| Sound System and Music - includes items such as our worship software subscriptions musical instruments microphones mic instrument cables etc., $5886| Building Renovation - Includes all materials needed for the renovation of our church building such as flooring drywall mud paint windows etc., $7653| General and Administrative - includes expenses such as Venmo Tithely and Square fees website and internet fees insurance costs etc., $3781| Miscellaneous and Other - Includes expenses not accounted for elsewhere. During 2024 the church underwent a mid-year transition in financial recordkeeping. After previously consulting with the accounting firm Boggs and Race and receiving unsatisfactory help a new bookkeeper assumed responsibility in the second half of the year and continued the existing tracking systems while evaluating and improving internal controls. Income was consistently recorded based on giving records maintained for donor contribution statements. However prior to the transition some funds particularly some cash donations were used directly for ministry expenses before being deposited into the bank. As a result there is a $4,470 difference between the ending bank balance and the book balance representing cash received and spent for legitimate church purposes but not reflected in the bank account. These legitimate church purposes primarily included expenses associated with renovating the building purchases necessary church supplies and providing meals to workers and for Wednesday night services. The pastors operated with integrity and in good faith maintaining informal but diligent stewardship practices during a period of limited administrative support. Beginning in 2025 the church has implemented a more robust bookkeeping system that ensures full documentation of both income and expenditures bank reconciliation and improved cash handling procedures. Wells of Love remains committed to transparency and responsible financial stewardship., $4470|”