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        <BookValue>4508164</BookValue>
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        <Depreciation>27221060</Depreciation>
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      <OtherLiabilities>
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        <Description>PRESENT VALUE OF INTEREST INCOME</Description>
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        <Description>ACCRUED SALARIES</Description>
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        <Description>ACCRUED SICK LEAVE PAYABLE</Description>
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        <Description>PAYROLL TAXES PAYABLE</Description>
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      <OtherLiabilities>
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        <NamePerson>DONALD E WILDMON</NamePerson>
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      <GeneralExplanation>
        <Identifier>ALL OTHER ACCOMPLISHMENT DESCRIPTION</Identifier>
        <ReturnReference>FORM 990, PAGE 2, PART III, LINE 4D</ReturnReference>
        <Explanation>AFA'S INTERNET OPERATIONS ASSIST WITH NOTIFYING INTERESTED PARTIES AND SUPPORTERS REGARDING CURRENT EVENTS OF INTEREST. SUGGESTED POSSIBLE COURSES OF ACTION ARE OFFERED THROUGH ACTION ALERTS AND WEBSITES INCLUDING AFA.NET, AFR.NET, ONEMILLIONMOMS.COM, ONEMILLIONDADS.COM AND ONEMILLIONYOUTH.COM. THE AMERICAN FAMILY ASSOCIATION FOUNDATION ASSISTS SUPPORTERS WITH MANAGING INVESTMENTS ON A LONG TERM BASIS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>RELATED PARTY INFORMATION AMONG OFFICERS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 2</ReturnReference>
        <Explanation>TIMOTHY B. WILDMON DONALD E. WILDMON PRESIDENT CH EMERITUS SON</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ORGANIZATION'S PROCESS USED TO REVIEW FORM 990</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 11B</ReturnReference>
        <Explanation>NO REVIEW WAS OR WILL BE CONDUCTED.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ENFORCEMENT OF CONFLICTS POLICY</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 12C</ReturnReference>
        <Explanation>ANNUAL REPORTS OF ALL SOURCES OF REVENUE AND RELATED PARTY TRANSACTIONS FOR OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES ARE COMPLETED AND SUBMITTED TO THE EXECUTIVE COMMITTEE FOR REVIEW. THE EXECUTIVE COMMITTEE THEN REPORTS FINDINGS TO THE FULL BOARD AT THE NEXT SCHEDULED REGULAR MEETING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION PROCESS FOR TOP OFFICIAL</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 15A</ReturnReference>
        <Explanation>AFA'S CEO, EXECUTIVE DIRECTOR AND TOP MANAGEMENT OFFICIALS' COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS AFTER A THOROUGH AND DELIBERATE DISCUSSION AND AN INDEPENDENT ANALYSIS AND COMPARISON OF SIMILAR NONPROFIT ENTITIES LOCATED IN THE SAME GEOGRAPHIC LOCATION AS AFA.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION PROCESS FOR OFFICERS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 15B</ReturnReference>
        <Explanation>THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE BOARD OF DIRECTORS AFTER A THOROUGH REVIEW OF COMPARIABLE AND SIMILAR NONPROFITS LOCATED WITHIN THE GEOGRAPHICAL AREA OF AFA.</Explanation>
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      <GeneralExplanation>
        <Identifier>GOVERNING DOCUMENTS DISCLOSURE EXPLANATION</Identifier>
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        <Explanation>NO DOCUMENTS AVAILABLE TO THE PUBLIC</Explanation>
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      <GeneralExplanation>
        <Identifier>OTHER EXPENSES</Identifier>
        <ReturnReference>FORM 990, PART IX, LINE 24E</ReturnReference>
        <Explanation>LICENSES AND PERMITS 511,074 PRODUCTION 419,097 AMORTIZATION 283,184 RENT 282,291 TELEPHONE 278,884 ANNUITY PAYMENTS 220,401 INTERNET BROADCAST FEES 216,104 MISCELLANEOUS 192,825 PROFESSIONAL FEES 187,200 SATELLITE SERVICE 187,200 COMMISSIONS 141,977 TAXES AND LICENSES 131,673 CREDIT FEES AND COLLECTIO 104,061 CONTRIBUTIONS 74,305 HOUSING ALLOWANCE 72,727 COMPUTER EXPENSE 71,867 INVESTMENT FEES 60,499 COMPUTER PROGRAMS 53,052 USE TAX 52,951 GROUNDS AND MAINTENANCE 46,680 SCHOLARSHIPS 40,500 AUTO USAGE 39,919 SPECIAL PROJECTS 12,684 FREIGHT AND SHIPPING 456</Explanation>
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