2024-08-29T11:10:29-07:00 2023-12-31 990 2023-01-01 823174462 WALKING THE TEXT WALK 6153928494 PO Box 1962 Spring Hill TN 37174 Shallon Gray Finance Manager 6162120436 2024-08-29 1 2023 2024-08-08 14:25:15Z Bradley Gray 1807 Covey Rise Ct Spring Hill TN 37174 933921 0 X www.walkingthetext.com X 2017 TN The organization provides Biblical resources through online teachings, podcasts, seminars, and study trips that help people to understand the Bible more thoroughly from it's original cultural, historical, and geographical context in order for them to understand and live out its teachings and principles better. 6 4 4 1 0 0 1218257 868469 194160 46900 0 10 23241 15244 1435658 930623 91320 69651 0 0 400118 510012 0 49200 59901 281330 177353 772768 806216 662890 124407 1884387 2020232 4807 11529 1879580 2008703 The organization provides Biblical resources through online teachings, podcasts, seminars, study trips, and videos that help people to understand the Bible more thoroughly from its original cultural, historical, and geographical context in order for them to understand and live out its teachings and principles better. 0 0 166295 69651 33900 Walking The Text provides scholarships to individuals desiring to participate in study trips to Biblical lands. This year we took three trips to Israel. We provided 13 individuals with partial/full scholarships (totaling $69,651 listed below) to attend these trips. Generally individuals accepted for scholarships are actively involved in ministry, Biblical teaching or leadership, or students studying ministry and/or Biblical studies. We earmark 20K of total donations received to give away in scholarships regardless of how the donor specifies the gift. In addition, this year we recieved a total of $50,337 from donor contributions specifically earmarked for scholarships. Expense total is reflected in section IX column B line 2, 1/3 of line 5B (which equals $96,222), and $422 of line 24d . Revenue total is reflected in section XIII line 2a. 105546 0 13000 Walking The Text provides opportunities for churches and organizations to host live events where founder/director Brad Gray, (and other Biblical teachers including Content Director Brad Nelson) speaks and teaches on the Bible. The format is generally (but not limited to) weekend services at a church, live weekend workshops, or an annual 3-day Biblical conference (IBC). This year we had the opportunity to speak to the Buffalo Bills NFL team alongside their chaplain to name one of the unique opportunities we were involved in. We also led events in Indiana, Washington, Tennessee, and Florida to name a few. Expense total is reflected in section IX column B lines 17 (partial $6652), 24c, 1/3 line 5B (which equals $96,222). Revenue total is reflected in sedction XIII line 2b. 149303 0 0 Website content and development including weekly video teachings, website updates, podcast development, and other resource information which is available for free to users on our website. This is not a revenue generating service that we provide, rather we strive to offer the best resources on the subject of the Bible for free to everyone. There is information listed about study trips, speaking at conferences or churches, and/or future events listed on the website in which people can sign up for. Users also have the opportunity to donate to Walking The Text online. Parts of the website was revamped this year in order to give users a more friendly and easy website to navigate all the while maintaining the highest quality website possible. We also continued work on a television series that will be available in the future hopefully on Netflix, Amazon Prime, etc. We are continuing to work o fundrasing for Seasons 1 and 2. The script has been written and all pre-production complete. Expense total is reflected in section IX 1/3 line 5B (which equals $96,223), line 11 b column B, line 11g column B, line 13, column B line 14, line 16, $4938 of line 17, $2104 of 24d, line 24e Column B, line 22 Column B, line 24b Column B 0 0 0 421144 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 9 0 1 4 1 0 0 0 0 0 0 0 0 X 6 4 1 0 1 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 GA TN X Shallon Gray 6162120436 1807 Covey Rise Ct Spring Hill TN 37174 X X Brad Gray President Executive Director 40 X X 175000 0 11800 Bradley Nelson Content Director 40 0 X 125000 0 11800 Marcus Naugler Creative Director 40 0 X 125000 0 9684 Shallon Gray Finance Manager 15 0 X 18000 0 0 Richard Lyons Treasurer and Vice Chair Board Member 2 0 X 0 0 0 Nathan Young Board Chair Member 2 0 X 0 0 0 Gary Gray Secretary Board Member 2 0 X 0 0 0 443000 0 33284 3 0 1 0 Evolve Studios 277 Mallory Station Rd Unit 106 Franklin TN 37067 Production company fees for docuseries development 207990 1 X 0 0 0 0 0 868469 14543 868469 Study Trip Income 611600 33900 33900 0 0 Guest Speaking Income 813110 13000 13000 0 0 0 0 0 0 46900 10 10 0 0 0 0 0 0 1478 1478 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9813 3298 6515 6515 0 0 Reconciliation Discrepencies 813110 7251 7251 0 0 0 0 0 0 7251 930623 62154 0 0 X 0 0 69651 69651 0 0 0 0 443000 287950 146190 8860 0 0 0 0 0 0 0 0 0 0 0 0 33284 0 33284 0 33728 0 33728 0 0 0 0 0 12431 500 11931 0 18340 0 18340 0 0 0 0 0 49200 49200 168 0 168 0 37292 8118 29174 0 39174 0 39174 0 2981 2981 0 0 15856 15856 0 0 0 0 0 0 683 683 0 0 11590 11590 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5110 2248 2862 0 10316 0 10316 0 Bank Charges & Fees 9737 9737 0 0 Educational Resources 2672 2672 0 0 Clothing & Gear 2526 2526 0 0 Other---See Schedule O 8477 6632 4 1841 806216 421144 325171 59901 X 720449 652301 -190 0 0 0 1743 190 0 0 0 0 0 0 2277 1902 0 0 36559 24296 14522 12263 0 0 0 0 0 0 1145586 1353576 0 0 1884387 2020232 2022 7901 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2785 3628 4807 11529 X 463708 263827 1415872 1744876 1879580 2008703 1884387 2020232 X 124407 0 0 0 4716 0 X X 0 1 X 1 0 X 271721 549111 968188 1218257 868469 3875746 72125 90705 184312 223869 65442 636453 343846 639816 1152500 1442126 933911 4512199 72125 90705 184312 223869 65442 636453 72125 90705 184312 223869 65442 636453 3875746 790 10 800 0 790 0 0 10 800 343846 640606 1152500 1442126 933921 4512999 0.85880 0.83509 0.00018 0.00021 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 36559 0 24296 12263 0 0 0 0 12263 3628 3628 X 933921 0 0 0 0 0 933921 0 -3298 -3298 930623 804794 0 0 0 0 0 804794 0 1422 1422 806216 Schedule D, Part X, Line 2 Taxes due in Q4 2023 and paid in Q1 2024 Schedule D, Part XI, Line 4b Capin Crouse shows COGS on the expense side of the financial statements where as the 990 shows it on the revenue side. This is why per the audit the total revenue is $933,921 versus what shows on the 990 as $930,623. Schedule D, Part XII, Line 4b COGS expense total of $3298 is shown on the expense side on the audit compilation but on the revenue side of the 990. So if you add $3298 to $806,216 you get $809,514. Then the audit team made an adjustment to expenses and assets of -$4716 in order to match net assets. This then brings expenses back down to $804,798 to match the audit. So total adjustments to expenses were $1422. X 1 Generis Partners 6455 E Johns Xing Ste Ste 275 Johns Creek GA 30097 Generis Partners, LLC was hired to consult and help with fundraising strategy primarily for The Sacred Thread television series project. We are in the process of raising funds for Seasons 1 and 2 and this year hired the company to help with strategy, building fundraising campaign documents, developing relationships with possible key donors, etc. The contract is a one-year monthly fixed fee of $9800 which began in September 2023. The goal is for Generis to help us develop the necessary tools to successfully raise the $5 million needed to complete Season 1. At this point we have identified key donor possibilities, continued to have conversations with all possible donors, and completed fundraising documents to explain the project to donors. 0 0 39200 -39200 Open Gates Advisors 801 N Orange Ave Ste 820 Orlando FL 32806 Open Gates Advisors was hired to help us host one small, home fundraising event. The event was more to explain to a selected group of individuals more about The Sacred Thread project and ask them to consider donating to the project. We did not request funding at the time of the event and no funds were specifically raised from the event. Open Gates also introduced us to individuals who may become key donors and helped us build relationships with these people. 0 0 10000 -10000 0 49200 -49200 GA TN 1 Scholarship Fund for Study Trips 13 69651 0 book Schedule I, Part I, Line 2 13 individuals total received scholarships to go on study trips to Israel this year. The total amount of scholarship provides about half the amount of the total trip cost. In some cases a full scholarship is awarded to an individual.Individuals interested in receiving a scholarship can contact Walking The Text through our contact information listed on our website and inquire about applying. Individuals are awarded a scholarship based on financial need, in addition to their involvement in Biblical teaching and ministry. Scholarships are given primarily to, but not limited to, individuals actively pursuing a career in ministry or those who are currently participating in ministry leadership, Biblical teaching and study, seminary, church leadership,or some other form of Biblical leadership. Donors may also designate gifts to be used towards the scholarship fund. Donors may suggest a recipient when donating but Walking The Texthas final say on if the recipient receives the scholarship. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Brad Gray President Executive Director 175000 0 0 0 0 0 0 0 11800 0 186800 0 0 0 Schedule J, Part I, Line 1a Bradley Gray, President and Executive Director was reimbursed for utilities expenses as his primary personal residence is also the primary work office space. The home office is 4% of the total home square footage so the utilities reimbursement is calculated based off that number. All home utilities are totaled at years end and the percentage amount due is then reimbursed to Brad Gray. Cell phone reimbursement is 75% and internet is 50% reimbursement of total use. Total reimbursement for all utilities this year was $3081 and this is not taxable, reportable income. All calculations and receipts are presented before reimbursement. Schedule J, Part I, Line 3 The Executive Board is required to provide comparable data to support salary designations for all employees. The Board utilizes a variety of mediums to determine COLA increases, salary range, etc. Bradley Gray is not permitted to vote regarding his own compensation. The Board must vote and approve salary packages and record documentation in board minutes and compensation agreements. Schedule J, Part II Bradley Gray, President and Executive Director is the highest paid employee with a salary of $175,000. This is determined by the process described above. Bradley Gray, along with all full-time employees receive a QSEHRA (Qualified Small Employer Health Reimbursement Arrangement) benefit at the maximum IRS family benefit allowed. In 2023 the benefit was $11,800/family and this amount is not taxable income. Employees must show all paid medical expenses and medical invoice receipts in order to receive reimbursement. Form 990, Part VI, Section A, Line 1a Line 1a: There are 6 members of the governing body although the three directors Brad Gray (Executive Director/President), Marcus Naugler (Creative Director), and Brad Nelson (Content Director) do not have voting rights. President Brad Gray will cast a vote in the case of a tie. We also added another Board Member (this will be 7) at the end of 2023 but she did not start officially until Jan 2024. Form 990, Part VI, Section A, Line 2 Line 2: The Executive Director/Officer Brad Gray and Board Member Director Gary Gray are related in that Brad is Gary's son. Form 990, Part VI, Section A, Line 4 Line 4: The governing bylaws were updated to reflect new members of the body in addition to clarify better our governing structure. Form 990, Part VI, Section A, Line 9 Line 9: Gary Gray 2701 Pfister Hwy Adrian MI 49221, Richard Lyons 6712 Bryant Ave Holland MI 49423, Nathan Young PO Box 550 Douglas MI 49406, Marcus Naugler 846 Rands Way Columbia TN 38401, Bradley Nelson 1300 Legend Dr Greensboro GA 30642 Form 990, Part VI, Section B, Line 11b Line 11ab: Form 990 was completed initially by Finance Manager Shallon Gray and then reviewed by Capin Crouse during audit compilation. Form 990, Part VI, Section B, Line 12c Line 12 a-c: Written Conflict of Interest Policy is adhered to according to Section 25 of the WTT Employee Handbook and also the Board Conflict of Interest Policy. Any person with a complaint should address the Board Chair Nathan Young. In the case of a Board Member complaint, that member will leave a meeting after presenting the conflict in order for the board to vote. Form 990, Part VI, Section B, Line 15 Line 15 ab: The Board uses comparability data, COLA statistics, etc. to determine salaries for Director level employees. Executive Director Brad Gray does not have voting rights in this determination. All information used to determine salaries is recorded in minutes. Form 990, Part VI, Section C, Line 19 Line 19: All documents and policies are available to all board members, directors, officers, and the public upon request. Any changes or updates to policies are approved by the Board and then final updated policies are distributed to each member. Some information is available online on our website www.walkingthetext.com but additional information is available upon request. Public information can be accessed by searching Federal and State non-profit charitable organization search websites. Form 990, Part VII, Section A, Line 1b Line 1b: Column F line 1b/d reflects the amount given to Directors for HRA reimbursement benefits. Form 990, Part VII, Section B, Line 1(A) Line 1: Evolve Studios is the production company we are working with to develop the television docuseries The Sacred Thread. We will continue to work with them in order to produce the remainder of Season 1 in 2024/25. We have plans to produce up to 7 seasons and a film version and thus will require significant funds payable to them to produce the show. Funds paid to them are capitalized as intangilbe assets. Form 990, Part VIII, Line 1f Line 1f: Of these total contributions, $348,317 was specifically earmarked for the upcoming video series we are producing beginning 2021. These funds will cover the program, management, and production costs for a portion of Season 1 of The Sacred Thread. This year $207,990 of those funds were capitalized at intangible assets.In addition, $50,337 of total contributions were specifically earmarked (and released) for scholarships for study trips. Form 990, Part VIII, Line 11a 11b 11c An adjustment to the books of $7251 was made in order to correct understated book balance and match the bank balance. Form 990, Part IX, Line 2 Line 2: $69,651 was given to a total of 13 individuals for assistance on study trips to Israel. We received $50,337 of funding specifically designated for scholarships this year. Form 990, Part IX, Line 9 Line 9: $11800 paid towards HRA for employee Brad Gray, $9684 paid towards HRA for employee Marcus Naugler and $11800 paid towards HRA for employee Brad Nelson for a total of HRA Benefits of $33,284. Naugler had the option but did not use his full HRA benefit of $11,800 in 2023. Form 990, Part IX, Line 11b Line 11b: $12431 for general legal services and cost of updating current and creating new policies. Form 990, Part IX, Line 11g Line 11g: $5542 website development expenses, $31,750 paid to contractors for help with events, writing, content development, etc. Form 990, Part IX, Line 13 Line 13: $2981 office supplies and shipping Form 990, Part IX, Line 17 Line 17: $9761 travel, $525 reimbursable travel expenses, $1304 meals/entertainment for a total of $11590 Form 990, Part IX, Line 24e Line 24e: $1986 for costs related to production, development, management, and legal fees for new filming project; $1209 for studio and set design, $2349 for miscellaneous equipment expense, misc. gifts given $797, utilities $2136 for a total of $8477 Form 990, Part X, Line 14 Line 14: Reclassified $207,990 to Evolve Studios as intangible assets for payments for television series project The Sacred Thread Form 990, Part XI, Line 8 Line 8: Capin Crouse adjustment $4716 to make exact match of net assets Form 990, Part XII, Line 1 Line 1: In house finances are done on cash basis however the audit was done using accrual. Form 990, Part XII, Line 2b Line 2bc: This year we conducted an audit with Capin Crouse. Our Finance Manager Shallon Gray, along with the Board, oversaw the audit. This is the second year we have conducted an audit compilation. The final audit is provided with form 990. Filed and recieved approval for submission extension.