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Nonprofiteer
← K-LOVE & AIR1 FOUNDATION

Form 990 for tax year 2022

Filed by K-LOVE & AIR1 FOUNDATION.

Totals

Total revenue
$1,487,883
Total expenses
$1,369,480
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,370,995
Investment income
$0
Other revenue
$116,888
Total assets, end of year
$3,957,051
Total liabilities, end of year
$183,190
Net assets or fund balances, end of year
$3,773,861
Program services expenses (Part IX)
$1,104,600
Management and general expenses
$161,093
Fundraising expenses
$103,787
Program service expenses (Part III)
$1,104,600

Program services were 80.7% 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.

  • 2a · Program service revenue: MARKETING SERVICES

    total $1,010,995 · related or exempt $1,010,995

  • 2b · Program service revenue: PUBLISHING FEES

    total $240,000 · related or exempt $240,000

  • 2c · Program service revenue: FILM MANAGEMENT FEES

    total $120,000 · related or exempt $120,000

  • 5 · Royalties

    total $116,888 · excluded $116,888

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $829,992 · program services $675,946 · management and general $90,469 · fundraising $63,577

  • 8 · Pension plan contributions

    total $27,056 · program services $22,034 · management and general $2,949 · fundraising $2,073

  • 9 · Other employee benefits

    total $58,083 · program services $47,303 · management and general $6,331 · fundraising $4,449

  • 10 · Payroll taxes

    total $60,363 · program services $49,159 · management and general $6,580 · fundraising $4,624

  • 11c · Fees: accounting

    total $13,350 · management and general $13,350

  • 11g · Fees: other

    total $3,704 · program services $3,016 · management and general $404 · fundraising $284

  • 12 · Advertising and promotion

    total $3,623 · program services $2,951 · management and general $394 · fundraising $278

  • 13 · Office expenses

    total $10,428 · program services $8,493 · management and general $1,136 · fundraising $799

  • 16 · Occupancy

    total $65,459 · program services $53,310 · management and general $7,135 · fundraising $5,014

  • 17 · Travel

    total $24,138 · program services $19,658 · management and general $2,631 · fundraising $1,849

  • 22 · Depreciation, depletion and amortization

    total $230,116 · program services $187,406 · management and general $25,083 · fundraising $17,627

  • 24a · Other expenses: ENGINEERING

    total $20,777 · program services $16,921 · management and general $2,264 · fundraising $1,592

  • 24b · Other expenses: MISCELLANEOUS

    total $15,874 · program services $12,928 · management and general $1,730 · fundraising $1,216

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $5,283 · program services $4,303 · management and general $575 · fundraising $405

  • 24d · Other expenses: BANKING AND CASH PROCES

    total $1,234 · program services $1,172 · management and general $62

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $876,618 · end of year $1,008,669

  • 4 · Accounts receivable

    beginning of year $110,025 · end of year $103,115

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $158,947

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,628 · end of year $1,627

  • 14 · Intangible assets

    beginning of year $2,914,809 · end of year $2,684,693

  • 17 · Accounts payable and accrued expenses

    beginning of year $197,777 · end of year $183,190

  • 25 · Other liabilities

    beginning of year $61,344 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,643,959 · end of year $3,773,861

Mission and programs · 2022

Mission

KLOVE AND AIR1 FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS AND EDUCATIONAL PURPOSES AND FOR THE SUPPORT OR BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES PRIMARILY OF EDUCATIONAL MEDIA FOUNDATION AND OTHER EXEMPT ORGANIZATIONS WHICH SUPPORT AND PROMOTE CHRISTIAN EVANGELISM, EDIFICATION, AND VALUES.

  • K-LOVE & AIR1 FOUNDATION, THROUGH ITS WHOLLY OWNED SUBSIDIARY, WTA MEDIA LLC, CONTINUED ITS WORK TO DEVELOP, MARKET, AND DISTRIBUTE CHRISTIAN MEDIA INCLUDING, BUT NOT LIMITED TO FILM AND LITERATURE.

    Expenses $1,104,600 · Revenue $1,370,995

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Emf Corporation

    INSTITUTIONAL TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Shaine Grieshaber

    SECRETARY, ENDING 05/25/22

    Total calculated
    $362,238
    From this org
    $0
    From related orgs
    $317,421
    Other
    $44,817
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $255,395 related
    Bonus
    $0 + $10,000 related
    Other
    $0 + $52,026 related
    Deferred
    $0 + $12,466 related
    Nontaxable benefits
    $0 + $32,351 related
    Filer's total
    $0 + $362,238 related

  • David Atkinson

    CHIEF FINANCIAL OFFICER/TR

    Total calculated
    $401,116
    From this org
    $0
    From related orgs
    $363,980
    Other
    $37,136
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $278,019 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $35,961 related
    Deferred
    $0 + $14,469 related
    Nontaxable benefits
    $0 + $22,667 related
    Filer's total
    $0 + $401,116 related

  • Jon Reeves

    CEO, ENDING 3/21/23

    Total calculated
    $621,251
    From this org
    $0
    From related orgs
    $569,438
    Other
    $51,813
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $471,570 related
    Bonus
    $0 + $77,950 related
    Other
    $0 + $19,918 related
    Deferred
    $0 + $19,462 related
    Nontaxable benefits
    $0 + $32,351 related
    Filer's total
    $0 + $621,251 related

  • Joe Miller

    ASSISTANT TREASURER

    Total calculated
    $314,822
    From this org
    $0
    From related orgs
    $281,030
    Other
    $33,792
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $257,797 related
    Bonus
    $0 + $5,500 related
    Other
    $0 + $17,733 related
    Deferred
    $0 + $11,125 related
    Nontaxable benefits
    $0 + $22,667 related
    Filer's total
    $0 + $314,822 related

  • Todd Woods

    CHIEF LEGAL OFFICER/SEC

    Total calculated
    $417,045
    From this org
    $0
    From related orgs
    $378,896
    Other
    $38,149
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $268,144 related
    Bonus
    $0 + $105,000 related
    Other
    $0 + $5,752 related
    Deferred
    $0 + $5,798 related
    Nontaxable benefits
    $0 + $32,351 related
    Filer's total
    $0 + $417,045 related

  • Michael Lewis

    PRESIDENT, ENDING 5/17/23

    Total calculated
    $402,733
    From this org
    $0
    From related orgs
    $369,070
    Other
    $33,663
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $361,731 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $2,339 related
    Deferred
    $0 + $10,996 related
    Nontaxable benefits
    $0 + $22,667 related
    Filer's total
    $0 + $402,733 related

  • Brian Mitchell

    DIVISIONAL PRESIDENT

    Total calculated
    $281,421
    From this org
    $242,387
    From related orgs
    $0
    Other
    $39,034
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $195,672
    Bonus
    $16,955
    Other
    $29,760
    Deferred
    $6,683
    Nontaxable benefits
    $32,351
    Filer's total
    $281,421

  • David Schroeder

    EXECUTIVE DIR OF PUBLISHING

    Total calculated
    $180,517
    From this org
    $142,650
    From related orgs
    $0
    Other
    $37,867
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $128,622
    Bonus
    $4,758
    Other
    $9,270
    Deferred
    $5,516
    Nontaxable benefits
    $32,351
    Filer's total
    $180,517

  • Adam Hastings

    EXECUTIVE DIRECTOR OF FILM AND TV

    Total calculated
    $131,261
    From this org
    $126,462
    From related orgs
    $0
    Other
    $4,799
    Hours/week
    50

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
ON OCCASION, THE WIFE OF OUR DIVISIONAL PRESIDENT ACCOMPANIED HIM ON BUSINESS TRIPS. THIS PRIMARILY OCCURRED WHEN THE PURPOSE OF THE TRIP WAS A COMPANY-WIDE EVENT, OR TO BUILD A PERSONAL RELATIONSHIP WITH DONORS.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WTA MEDIA

    CHRISTIAN MEDIA ACTIVITIES · DE · income $1,487,883 · assets $3,956,951

    Directly controlled by K-LOVE & AIR1 FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
31 July 2023
IRS schema version
2022v5.0
Source object
202342159349301739

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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