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Nonprofiteer
← FAR EAST BROADCASTING COMPANY

Form 990 for tax year 2023

Filed by FAR EAST BROADCASTING COMPANY.

Totals

Total revenue
$15,036,783
Total expenses
$16,215,523
Contributions and grants received
$11,661,740
Grants paid
$7,886,199
Program service revenue
$3,006,185
Investment income
$368,226
Other revenue
$632
Total assets, end of year
$20,521,530
Total liabilities, end of year
$3,321,255
Net assets or fund balances, end of year
$17,200,275
Program services expenses (Part IX)
$13,725,848
Management and general expenses
$1,099,567
Fundraising expenses
$1,390,108
Program service expenses (Part III)
$13,725,848

Program services were 84.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $11,661,740

  • 1g · Noncash contributions included above

    $151,058

  • 2a · Program service revenue: Broadcast Revenue

    total $3,006,185 · related or exempt $3,006,185

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $365,453 · excluded $365,453

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $4,752,197

  • 7b · Less cost or other basis and sales expenses

    securities $4,749,424

  • 7c · Gain or loss

    securities $2,773 · other assets $0

  • 7d · Net gain or loss

    total $2,773 · excluded $2,773

  • 11d · All other revenue

    total $632 · related or exempt $0 · unrelated business $0 · excluded $632

  • 11e · Other revenue, total

    $632

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $7,886,199 · program services $7,886,199

  • 5 · Compensation of officers, directors and key employees

    total $593,882 · program services $288,865 · management and general $242,564 · fundraising $62,453

  • 7 · Other salaries and wages

    total $2,771,226 · program services $2,338,145 · management and general $164,483 · fundraising $268,598

  • 8 · Pension plan contributions

    total $128,348 · program services $110,076 · management and general $3,539 · fundraising $14,733

  • 9 · Other employee benefits

    total $684,913 · program services $587,957 · management and general $47,681 · fundraising $49,275

  • 10 · Payroll taxes

    total $243,476 · program services $189,777 · management and general $29,788 · fundraising $23,911

  • 11b · Fees: legal

    total $25,503 · program services $17,309 · management and general $3,008 · fundraising $5,186

  • 11c · Fees: accounting

    total $81,478 · management and general $81,478

  • 11e · Fees: professional fundraising services

    total $86,400 · fundraising $86,400

  • 11f · Fees: investment management

    total $102,069 · management and general $102,069

  • 11g · Fees: other

    total $899,476 · program services $680,871 · management and general $92,733 · fundraising $125,872

  • 12 · Advertising and promotion

    total $11,776 · program services $3,347 · management and general $1,098 · fundraising $7,331

  • 13 · Office expenses

    total $1,303,399 · program services $599,368 · management and general $145,550 · fundraising $558,481

  • 14 · Information technology

    total $408,286 · program services $265,783 · management and general $49,341 · fundraising $93,162

  • 16 · Occupancy

    total $279,956 · program services $232,889 · management and general $23,857 · fundraising $23,210

  • 17 · Travel

    total $325,578 · program services $260,435 · management and general $29,634 · fundraising $35,509

  • 19 · Conferences, conventions and meetings

    total $118,790 · program services $106,243 · management and general $7,901 · fundraising $4,646

  • 22 · Depreciation, depletion and amortization

    total $32,769 · program services $18,023 · management and general $10,814 · fundraising $3,932

  • 23 · Insurance

    total $95,621 · program services $61,132 · management and general $20,439 · fundraising $14,050

  • 24e · All other expenses

    total $136,378 · program services $79,429 · management and general $43,590 · fundraising $13,359

  • 26 · Joint costs (an allocation of the lines above)

    total $422,616 · program services $415,431 · management and general $1,268 · fundraising $5,917

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $326,216 · end of year $445,387

  • 2 · Savings and temporary cash investments

    beginning of year $766,743 · end of year $635,701

  • 3 · Pledges and grants receivable

    beginning of year $3,000

  • 4 · Accounts receivable

    beginning of year $890,626 · end of year $649,865

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0

  • 8 · Inventories for sale or use

    beginning of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $82,769 · end of year $63,343

  • 10a · Land, buildings and equipment: cost or other basis

    $1,551,005

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,494,385

  • 10c · Land, buildings and equipment, net

    beginning of year $479,425 · end of year $56,620

  • 11 · Investments: publicly traded securities

    beginning of year $13,496,642 · end of year $13,995,380

  • 12 · Investments: other securities

    beginning of year $4,458,681 · end of year $3,594,342

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0

  • 15 · Other assets

    beginning of year $191,039 · end of year $1,080,892

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,545,423 · end of year $808,076

  • 18 · Grants payable

    beginning of year $0

  • 19 · Deferred revenue

    beginning of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $2,100,576 · end of year $2,513,179

  • 27 · Net assets without donor restrictions

    beginning of year $10,407,988 · end of year $9,661,541

  • 28 · Net assets with donor restrictions

    beginning of year $6,641,154 · end of year $7,538,734

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0

Mission and programs · 2023

Mission

Far East Broadcasting Company, Inc. (FEBC) exists to develop Christian radio/internet programming and discipleship ministries for a global audience.

Activities or mission (Part I)

FEBC's mission is to bring Christ to the world through radio and other media.

  • As an international media network established in 1945, FEBC provides grants to its affiliates which broadcast throughout greater Asia.

    Expenses $7,886,199 · Grants $7,886,199 · Revenue $3,006,185

  • 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.

    Expenses $3,493,262

  • 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.

    Expenses $1,877,157

  • 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.

    Expenses $469,230

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kwoknam Shiu

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Laurie Kattner

    Chair

    Total calculated
    $0
    Hours/week
    2

  • Wayne Shepherd

    Vice Chair

    Total calculated
    $0
    Hours/week
    2

  • Alynne Douglass

    Director

    Total calculated
    $0
    Hours/week
    2

  • Bonnie Ho

    Director

    Total calculated
    $0
    Hours/week
    2

  • Dan Lindquist

    Director

    Total calculated
    $0
    Hours/week
    2

  • Fred Gladney

    Director (part year)

    Total calculated
    $0
    Hours/week
    2

  • John Wauterlek

    Director

    Total calculated
    $0
    Hours/week
    2

  • Richard Bott

    Director

    Total calculated
    $0
    Hours/week
    2

  • Rob Keith

    Director

    Total calculated
    $0
    Hours/week
    2

  • Roger Kemp

    Director

    Total calculated
    $0
    Hours/week
    2

  • Cheri Carpenter

    Corporate Secretary

    Total calculated
    $119,733
    From this org
    $99,650
    From related orgs
    $0
    Other
    $20,083
    Hours/week
    40

  • Edward Cannon

    President and CEO

    Total calculated
    $295,814
    From this org
    $238,575
    From related orgs
    $0
    Other
    $57,239
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,915
    Bonus
    $35,000
    Other
    $7,660
    Deferred
    $14,807
    Nontaxable benefits
    $42,432
    Filer's total
    $295,814

  • Scott Hassel

    CAO, Treasurer and CFO

    Total calculated
    $184,410
    From this org
    $156,475
    From related orgs
    $0
    Other
    $27,935
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,475
    Bonus
    $0
    Other
    $0
    Deferred
    $9,661
    Nontaxable benefits
    $18,274
    Filer's total
    $184,410

  • David Wollen

    VP Development

    Total calculated
    $143,071
    From this org
    $112,737
    From related orgs
    $0
    Other
    $30,334
    Hours/week
    40

  • Mary K Park

    Executive Director, Korean Ministries

    Total calculated
    $171,185
    From this org
    $134,176
    From related orgs
    $0
    Other
    $37,009
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,072
    Bonus
    $0
    Other
    $4,104
    Deferred
    $8,798
    Nontaxable benefits
    $28,211
    Filer's total
    $171,185

  • Sandy Wilson

    Director of Development

    Total calculated
    $139,033
    From this org
    $112,547
    From related orgs
    $0
    Other
    $26,486
    Hours/week
    40

  • Victor Akhterov

    Director of Eurasian Ministries

    Total calculated
    $132,683
    From this org
    $102,889
    From related orgs
    $0
    Other
    $29,794
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 7 Non-fixed payments
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 discretionary bonuses in 2023: Cheri Carpenter Edward Cannon Sandy Wilson Viktor Akhterov

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Charitable Remainder Unitrust (3)

    Trust · Trust · CA · controlled entity

    Directly controlled by Far East Broadcasting Company

Provenance

Return type
form_990
Tax year
2023
Filed
19 November 2024
IRS schema version
2023v5.1
Source object
202443249349301029

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