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IN MARCH 2021, THE BOARD OF WBS ADOPTED A NEW ENDOWMENT POLICY AND RECEIVED PERMISSION FROM THE ORIGINAL DONORS OF THE WORLD BIBLE SCHOOL ENDOWMENT TO RELEASE THEIR PERMANENT RESTRICTION FOR UNRESTRICTED USE. THE NEW ENDOWMENT POLICY HAS ESTABLISHED THREE NEW ENDOWMENTS BY DONORS FOR SPECIFIC ACTIVITIES. AN ENDOWMENT HAS ALSO BEEN DESIGNATED BY THE BOARD OF WBS FOR GENERAL OPERATIONS. SCHEDULE D, PAGE 3, PART X THE MOST SIGNIFICANT TAX POSITIONS OF WBS ARE ITS ASSERTION THAT IT IS EXEMPT FROM INCOME TAXES AND ITS DETERMINATION OF WHETHER ANY AMOUNTS ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT). MANAGEMENT HAS DETERMINED THAT WBS HAD NO ACTIVITIES SUBJECT TO UBIT DURING THE YEAR ENDED DECEMBER 31, 2022. ALL SIGNIFICANT TAX POSITIONS HAVE BEEN CONSIDERED BY MANAGEMENT AND IT HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ALL TAX POSITIONS WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. SCHEDULE D, PAGE 4, PART XI, LINE 2D DIRECT FUNDRAISING EXPENSES 31,267 SCHEDULE D, PAGE 4, PART XII, LINE 2D DIRECT FUNDRAISING EXPENSES 31,267 SUB-SAHARAN AFRICA 14 TECHNOLOGY & MAILING PROGRAM SERVICE 512494 EAST ASIA AND THE PACFIC 1 TECHNOLOGY & MAILING PROGRAM SERVICE 28700 SOUTH ASIA 1 TECHNOLOGY & MAILING PROGRAM SERVICE 9540 SOUTH AMERICA 1 TECHNOLOGY & MAILING PROGRAM SERVICE 10683 17 17 561417 561417 false false false false false false SCHEDULE F, PAGE 1, PART I, LINE 3 SUB-SAHARAN AFRICA 512,494 0 EAST ASIA AND THE PACFIC 28,700 0 SOUTH ASIA 9,540 0 SOUTH AMERICA 10,683 0 SCHEDULE F, PAGE 5, PART V THE BOARD OF DIRECTORS MAINTAINS COMPETENT PROGRAM ADMINISTRATION, MANAGES THE FINANCIAL AND BUDGETARY RESPONSIBILITIES, AND ENSURES FUNDS ARE UTILIZED APPROPRIATELY IN SERVICE CENTERS OUTSIDE THE UNITED STATES. APPEALS DINNER 161265 161265 31267 161265 161265 31267 31267 -31267 FORM 990 - ORGANIZATION'S MISSION WORLD BIBLE SCHOOL, INC. IS A RELIGIOUS NOT-FOR-PROFIT ORGANIZATION DEDICATED TO TEACHING THE GOSPEL OF CHRIST BY USING BIBLE CORRESPONDENCE COURSES. THIS MISSION OF WBS IS WORLDWIDE AND IS SUPPORTED PRIMARILY BY CONTRIBUTIONS FROM INDIVIDUALS AND CHURCHES. WBS IS ASSOCIATED WITH CHURCHES OF CHRIST. FORM 990, PAGE 2, PART III, LINE 4D CONTRIBUTION TO EXEMPT ORGANIZATION SUPPORTING TEACHERS AND STUDENTS DEDICATED TO TEACH AND LEARN ABOUT THE GOSPEL OF CHRIST BY USING BIBLE CORRESPONDENCE COURSES. MAILBOXES AND OR SCANNERS HAVE BEEN SET UP IN SEVENTEEN NATIONS FOR LOCAL STUDENTS TO MAIL OR SCAN THEIR LESSONS TO TEACHERS IN THE UNITED STATES. MAILBOXES ALLOW STUDENTS TO MAIL THEIR LESSONS USING CHEAPER DOMESTIC MAIL, RATHER THAN MORE EXPENSIVE INTERNATIONAL MAILING AND SCANNERS SPEED UP THE TIME IN BETWEEN LESSON EXCHANGES. FORM 990, PAGE 6, PART VI, LINE 11B THE BOARD OF DIRECTORS MEETS FREQUENTLY TO DISCUSS CURRENT ISSUES AND FINANCIAL DATA. TAX RETURNS ARE REVIEWED BY THE PRESIDENT AND/OR OTHER DESIGNATED OFFICERS. COMPLETE TAX RETURNS ARE NOT PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING; HOWEVER, MEMBERS ARE MADE AWARE THAT RETURNS ARE AVAILABLE UPON REQUEST. FORM 990, PAGE 6, PART VI, LINE 12C OFFICERS & DIRECTORS ARE REQUIRED TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF DIRECTORS WILL EVALUATE THE OVERALL FINANCIAL PERFORMANCE OF THE WORLD BIBLE SCHOOL COMPARED TO PRIOR YEARS AND DETERMINE IF MERIT INCREASES IN SALARY ARE APPROPRIATE. FORM 990, PAGE 6, PART VI, LINE 19 WORLD BIBLE SCHOOL WILL PROVIDE ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 CHANGE IN ACCOUNTING METHOD -310,521