2022-11-08T10:31:36-06:00 2022-06-30 363990892 Capin Crouse LLP 3050 Saturn Street Suite 104 Brea CA 92821 990 2021-07-01 951461574 Far East Broadcasting Company Inc FARE 5629474651 PO Box 1 La Mirada CA 906370001 Scott Hassel Treasurer and CFO 5629474651 2022-11-08 1 Scott Hassel 999009999 Ashley Peabody P01385870 5055022746 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z FEBC Edward Cannon PO Box 1 La Mirada CA 906370001 26569976 0 X www.febc.org X 1945 CA FEBC's mission is to bring Christ to the world through radio and other media. 9 9 59 60 0 0 10779904 14547943 1586599 2105582 942511 230306 0 1674 13309014 16885505 5794427 6776731 0 0 3965366 4168606 180000 180000 2099236 2299121 3657934 12238914 14783271 1070100 2102234 17628706 18729557 3521711 3989318 14106995 14740239 X Far East Broadcasting Company, Inc. (FEBC) exists to develop Christian radio/internet programming and discipleship ministries for a global audience. 0 0 6774706 6774231 2105582 As an international media network established in 1945, FEBC provides grants to its affiliates which broadcast throughout greater Asia. 2796209 Christian radio programs are produced in our California studios in Mandarin, Tagalog, Hmong, Korean and Vietnamese languages, which are broadcast in their native countries via shortwave, A.M., F.M., Satellite and through other media outlets. 1640115 The U.S. office provides leadership, consulting services and training to 19 affiliate offices, including studios, office space, communication services and IT support. The U.S. office also administers planned giving programs including Charitable Gift Annuities, Charitable Trusts, Wills and Bequests, etc. 475684 2500 FEBC provides direct support to over 9 missionaries and 5 affiliate missionaries that serve as the engineers, project managers, and other highly technical capacities across the world. 475684 2500 11686714 1 1 0 0 0 0 0 0 0 0 1 1 0 1 1 0 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 111 0 1 59 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK CA HI MN MS NH SC TN VA WA WI WV X X Scott Hassel 5629474651 PO Box 1 La Mirada CA 90637 Laurie Kattner Chairman 2.00 X X 0 0 0 Michael Klausman part year Vice Chair 2.00 X X 0 0 0 Nam Shiu Board Secretary 2.00 X X 0 0 0 Wayne Shepherd Assistant Secretary 2.00 X X 0 0 0 Richard Bott Director 2.00 X 0 0 0 Alynne Douglass Director 2.00 X 0 0 0 Bonnie Ho Director 2.00 X 0 0 0 Rob Keith Director 2.00 X 0 0 0 John Wauterlek Director 2.00 X 0 0 0 Fred Gladney Director 2.00 X 0 0 0 Edward Cannon President and CEO 40.00 X 252231 0 45498 Scott Hassel Treasurer and CFO 40.00 X 140008 0 27398 Cheri Carpenter Corporate Secretary 40.00 X 86752 0 19741 Mary K Park Executive Director, Korean Ministrie 40.00 X 138142 0 35113 Sandy Wilson Director of Development 40.00 X 107502 0 22689 David Wollen VP Development 40.00 X 114034 0 29848 838669 0 180287 5 0 1 0 Douglas Shaw & Assoc 1717 Park St 300 Naperville IL 60563 Consulting & Development 914259 Wert & Associates 1414 Lanier Pl Atlanta GA 30306 International consulting 182938 Fluid Communications 58 Plaza Sq Studio D Orange CA 92856 Newsletter Develop/Prod 152522 Trinet 108 Discovery Irvine CA 92618 Digital Strategy Mgmt 117600 BriteCity LLC 4 Executive Cir Irvine CA 92614 Technical Support 109632 6 14547943 457498 14547943 Broadcast Revenue 515100 2105582 2105582 2105582 132157 132157 1249 0 1249 1249 1249 9525320 257300 9427406 257065 97914 235 98149 98149 425 425 425 16885505 2105582 0 231980 6776731 6776731 581528 338348 202208 40972 2664078 2031147 276250 356681 125647 96459 12416 16772 576243 464723 50195 61325 221110 159271 33191 28648 7652 2549 969 4134 41430 12429 29001 180000 180000 67122 67122 886654 662230 50152 174272 30127 7679 2820 19628 188433 132021 32468 23944 254571 175853 32151 46567 115138 92532 11577 11029 191798 139788 20105 31905 55741 44596 4628 6517 39594 21777 13066 4751 57473 42878 10246 4349 Printing & Publications 1598830 354707 163711 1080412 Meals & Entertainment 16799 12976 1996 1827 106572 50898 50171 5503 14783271 11686714 997321 2099236 X 448846 441215 1347 6284 878207 980038 982619 3000 3000 138188 138303 42257 38044 1526737 1452892 73845 73845 13963098 12853479 745372 3588236 802120 1054612 17628706 18729557 635225 806623 514269 514269 2372217 2668426 3521711 3989318 X 6974462 7315637 7132533 7424602 14106995 14740239 17628706 18729557 X 2102234 -1367490 -101500 X 0 1 X 1 0 X 12178786 10613034 10651360 10779904 14547943 58771027 1196137 1142435 1131648 1586599 2105582 7162401 13374923 11755469 11783008 12366503 16653525 65933428 224193 237236 191542 209870 265696 1128537 0 224193 237236 191542 209870 265696 1128537 64804891 124303 185244 255529 66054 133406 764536 124303 185244 255529 66054 133406 764536 425 425 13499226 11940713 12038537 12432557 16787356 66698389 0.97160 0.96800 0.01150 0.01310 X Schedule A, Part III, Line 12, Explanation of Other Income: Other income - 2021 Amount: $ 425. Schedule A, Part III: The organization is a public charity under section 509(a)(2) and completes Schedule A (Form 990), Part III. The organization has analyzed Schedule A (Form 990), Part II and established that it meets the 33 1/3% public support requirements under sections 509(a)(1) and 170(b)(1)(A)(vi), thus it qualifies to use the first listed special rule for Schedule B (Form 990) reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1526737 1452892 73845 73845 Bonds 3070336 F Indexed annuities 355005 F Limited partnership 60144 F Alternative managed futures 102751 F 3588236 Estates and Trust Receivables 235670 Real estate held for sale 443942 Funds held in escrow 375000 1054612 Fiduciary Obligations 2255759 Capital Lease Obligations 37667 Deposit held in escrow - real estate sale 375000 2668426 15427993 -1367490 78600 -101500 -1390390 16818383 67122 67122 16885505 14794749 78600 78600 14716149 67122 67122 14783271 Part XI, Line 2d - Other Adjustments: Change in value of Fiduciary Obligations -101,500. 1 East Asia and the Pacific 0 0 Grants to recipients 4992715 North America 0 0 Grants to recipients 28500 South Asia 0 0 Grants to recipients 167919 Europe 0 0 Grants to recipients 49215 Russia & the Newly Independent States 0 0 Grants to recipients 1538382 East Asia and the Pacific 0 5 Program services Radio Media Communications 483315 0 5 0 0 0 5 7260046 0 7260046 East Asia and the Pacific Media/Radio Broadcast 275721 Bank Wire 0 Russia & Neighboring States Media/Radio Broadcast 164935 Bank Wire 0 East Asia and the Pacific Media/Radio Broadcast 842700 Bank Wire 0 South Asia Media/Radio Broadcast 115094 Bank Wire 0 East Asia and the Pacific Media/Radio Broadcast 271257 Bank Wire 0 East Asia and the Pacific Media/Radio Broadcast 34330 Bank Wire 0 East Asia and the Pacific Media/Radio Broadcast 636414 Bank Wire 0 East Asia and the Pacific Media/Radio Broadcast 225971 Bank Wire 0 East Asia and the Pacific Media/Radio Broadcast 25535 Bank Wire 0 South Asia Media/Radio Broadcast 52825 Bank Wire 0 East Asia and the Pacific Media/Radio Broadcast 313668 Bank Wire 0 Russia & Neighboring States Media/Radio Broadcast 950000 Bank Wire 0 East Asia and the Pacific Media/Radio Broadcast 281644 Bank Wire 0 East Asia and the Pacific Media/Radio Broadcast 1973900 Bank Wire 0 East Asia and the Pacific Media/Radio Broadcast 105320 Bank Wire 0 Europe Media/Radio Broadcast 22712 Bank Wire 0 Europe Media/Radio Broadcast 351447 Bank Wire 0 Russia & Neighboring States Media/Radio Broadcast 72000 Bank Wire 0 Russia & Neighboring States Media/Radio Broadcast 28500 Bank Wire 0 Europe Media/Radio Broadcast 26503 Bank Wire 0 East Asia and the Pacific Media/Radio Broadcast 6255 Bank Wire 0 21 0 0 0 0 0 0 0 Part I, Line 2: Needs are communicated through a proposal process. The projects are evaluated and prioritized. Development will make appeals based upon common needs across multiple entities or for a specific affiliate. Grants are ultimately awarded based upon dollars raised and the needs communicated. While operating independently and under different leadership, foreign affiliates operate under a common charter which aligns mission and operations. Additionally, ministry partner agreements outline specific accountabilities for specific grants and results are regularly communicated back to FEBC-US. The organization monitors its grants and other assistance (and re-grants) to ensure that such grants and other assistance are used for proper purposes or aren't otherwise diverted from the intended use. Strict COVID 19 travel restrictions were in place during the reporting period. In lieu of regular field/site visits with designated representatives of FEBC-US , Monthly Zoom meetings were held in which International offices relayed their operations, which were consistent with prior years' observations. Any additional follow up is addressed on an as-needed basis: examples would include Financial and/or Operations Audits by FEBC-US or its designated third party agent. Part I, line 3: The U.S. operations records funding of affiliates as an Affiliate Grant Expense. Missionary payroll are paid via the same payroll system as U.S. Employees. Expenses reviewed are typically reimbursed when documentation is submitted to the accounting office in La Mirada, CA. Expenses are recorded using the accrual method of accounting. Part III Accounting Method: X X X X X 1 Douglas Shaw Associates 1717 Park Street Suite 300 Naperville IL 60563 Fundraising Consultant 0 0 180000 -180000 180000 -180000 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC Part I, Line 2b, column (iv): The professional fundraising services were consulting in nature; no gross receipts were directly generated from the services provided. X X X 0 0 0 0 0 0 0 1 0 Edward Cannon President and CEO 197739 0 45000 0 9492 0 14947 0 33060 0 300238 0 0 0 Mary K Park Executive Director, Korean Ministrie 132461 0 0 0 5681 0 7708 0 27794 0 173644 0 0 0 Scott Hassel Treasurer and CFO 136008 0 4000 0 0 0 8790 0 18997 0 167795 0 0 0 Part I, Line 7 Annual discretionary bonuses are approved by the President, except in the case of any annual discretionary bonuses for the President. The President's compensation and bonus is set and approved by the full Board of Directors while in Executive Session. The following individuals received disrectionary bonuses in 2021: Cheri Carpenter Edward Cannon Scott Hassel Sandy Wilson David Wollen X 23 195498 FMV X 1 255000 FMV X Radios 1 7000 FMV 0 0 1 0 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Form 990, Part VI, Section B, line 11b Form 990 is prepared by an independent CPA firm. The Treasurer/CFO and the President review the 990 in detail with FEBC's Audit and Finance Committee. The 990 is also provided and reviewed with the board of directors prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Forms are circulated to Board members and officers on an annual basis and reviewed by the Finance Committee. Disclosed conflicts are reported back to the Board. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship. Form 990, Part VI, Section B, line 15 Compensation for the President is set and approved by the board, who are considered to be independent. The President and personnel department set compensation for other officers based upon review of similar organizations, as well as competitive data for executive management and staff. The Finance and Audit committee performs periodic reviews of the compensation structure as part of its duties. All discussions regarding compensation are documented in the minutes. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part XI, line 9: Change in value of fiduciary obligations -101,500. Charitable Remainder Unitrust (3) Trust CA Far East Broadcasting Company 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0