2025-05-27T11:34:57-07:00 2024-12-31 990 2024-01-01 823174462 WALKING THE TEXT WALK 6153928494 PO Box 1962 Spring Hill TN 37174 Shallon Gray Finance Manager 6162120436 2025-05-30 1 2024 2025-03-06 01:10:19Z Bradley Gray 1807 Covey Rise Ct Spring Hill TN 37174 1104588 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. 5 4 6 5 0 0 868469 1062310 46900 34150 10 0 15244 1643 930623 1098103 69651 72325 0 0 510012 603060 49200 39200 64040 177353 235963 806216 950548 124407 147555 2020232 3456250 11529 1299988 2008703 2156262 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 236970 72325 10800 Walking The Text provides scholarships to individuals desiring to participate in study trips to Biblical lands. This year we took two trips to Israel and one trip to Turkey. We provided 11 individuals with partial/full scholarships (totaling $72,325 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 $67,537 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 $142.172), 1/3 line 20 ($11509), line 24a and line 24c . Revenue total is reflected in section XIII line 2a. 169685 0 23350 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 DC, Tennessee, Georgia, Colorado and Florida to name a few. Expense total is reflected in section IX column B lines 17, 24b, 1/3 line 5B (which equals $142,170), and 1/3 line 20 ($11508). Revenue total is reflected in sedction XIII line 2b. 233449 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 and feature film that will premier in theaters and be available to stream on a national platform. Season 1 filming is nearly complete and we hope to release fall 2025. Expense total is reflected in section IX 1/3 line 5B (which equals $142,170), 1/3 line 20 ($11508), line 11 b column B, line 11g column B, line 13, column B line 14, line 16, line 22, line 24e Column B. 0 0 0 640104 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 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 8 0 1 6 1 0 0 0 0 0 0 0 0 X 5 4 1 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 AZ GA OK TN X Shallon Gray 6162120436 1807 Covey Rise Ct Spring Hill TN 37174 X Brad Gray President Executive Director 40 0 X 180367 0 12450 Bradley Nelson Content Director 40 0 X 128833 0 12450 Marcus Naugler Creative Director 40 0 X 128833 0 12135 April Gaddis Executive Assistant 40 0 X 42500 0 9338 Shallon Gray Finance Manager 18 0 X 18552 0 0 Paul Weber Director of Strategic Partnerships 40 0 X 16250 0 1498 Richard Lyons Board Treasurer 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 Hala Saad Board Vice Chair 2 0 X 0 0 0 515335 0 47871 3 0 1 0 Evolve Studios 277 Mallory Station Rd Unit 106 Franklin TN 37067 Production company fees for docuseries development 1600000 1 X 0 0 0 0 0 1062310 151532 1062310 Study Trip Income 611600 10800 10800 0 0 Guest Speaking Income 813110 23350 23350 0 0 0 0 0 0 34150 0 0 0 0 0 0 0 0 348 348 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 7780 6485 1295 1295 0 0 Travel Reimbursements 721100 0 0 0 0 Adjust Retained Earnings 541210 0 0 0 0 0 0 0 0 0 1098103 35793 0 0 X 0 0 72325 72325 0 0 0 0 515335 426512 63983 24840 0 0 0 0 0 0 0 0 0 0 0 0 47870 0 47870 0 39855 0 39855 0 0 0 0 0 36845 36400 445 0 17976 0 17976 0 0 0 0 0 39200 39200 295 0 295 0 14430 5061 9369 0 46799 0 46799 0 3264 3264 0 0 24640 24640 0 0 0 0 0 0 480 480 0 0 12644 12644 0 0 0 0 0 0 0 0 0 0 38062 34525 3537 0 0 0 0 0 5110 2248 2862 0 11205 0 11205 0 Bank Charges and Fees 8972 8972 0 0 Educational Resources 3363 3363 0 0 Clothing and Gear for Trips/Travel 1992 1992 0 0 Reconciliation Discrepencies 2063 0 2063 0 7823 7678 145 0 950548 640104 246404 64040 X 652491 489445 0 0 0 0 0 0 0 0 0 0 0 0 1902 2179 0 0 40458 29408 12263 11050 0 0 0 0 0 0 1353576 2953576 0 0 2020232 3456250 7901 7566 0 0 0 35700 0 0 0 0 0 250000 0 1000000 0 0 3628 6722 11529 1299988 X 263827 17105 1744876 2139157 2008703 2156262 2020232 3456250 147555 0 0 0 4 0 X X 0 1 X 1 0 X 549111 968188 1218257 868469 1062310 4666335 90705 184312 223869 65442 42278 606606 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 639816 1152500 1442126 933911 1104588 5272941 0 0 0 0 0 0 90705 184312 223869 65442 42278 606606 90705 184312 223869 65442 42278 606606 4666335 790 10 0 800 0 0 0 0 0 0 790 0 0 10 0 800 0 0 0 0 0 0 0 0 0 0 0 0 640606 1152500 1442126 933921 1104588 5273741 0.88482 0.85880 0.00015 0.00018 X Schedule A, Part III, Line 1 Of these contributions, non cash donated interest income received in 2024 was $38.062. The lender gave 0% interest for the first year of the loan and the amount here reflects that total. It was recorded as an incurred interest expense and then received as donated interest so the balance reflects $0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 40458 0 29408 11050 0 0 0 0 11050 6722 6722 X 1104588 0 0 0 0 0 1104588 0 -6485 -6485 1098103 957033 0 0 0 6485 6485 950548 0 0 0 950548 Schedule D, Part X, Line 2 This is for payroll tax liability accrued in 2024 and will be paid in 2025. Schedule D, Part XI, Line 4b The audit represents the numbers a bit differently than the 990 requires. The audit number of $1,104,588 does not subtract COGS (6485) on the revenue statement but the 990 does. This brings the number down to $1,098,103. Schedule D, Part XII, Line 2d The audit represents the numbers a bit differently than the 990 requires. The audit number of $957,033 total expenses includes COGS (6485) on the expense statement but the 990 includes it on the revenue statement. This brings the number down to $950,548. Schedule D, Part XII, Line 4b See explanation on Reconciliation of Revenue X 1 Generis Partners LLC 6455 East Johns Xing Ste 275 Johns Creek GA 30097 Strategy consulting for approaching and maintaining relationships with significant donors. 0 0 39200 -39200 0 39200 -39200 TN 1 Scholarship Fund for Study Trips 11 72325 0 Book Schedule I, Part I, Line 2 Schedule I, Part I, Line 2 - 11 individuals total received scholarships to go on study trips to Israel and Turkey 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 Text has 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 180367 0 0 0 0 0 0 0 12450 0 192817 0 0 0 Schedule J, Part I, Line 1a 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 $2661.64 and this is not taxable, reportable income. All calculations and receipts are presented before reimbursement. Schedule J, Part I, Line 3 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 Schedule J, Part II - Bradley Gray, President and Executive Director is the highest paid employee with a salary of $180,367. 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 2024 the benefit was $12,450/family and this amount is not taxable income. Employees must show all paid medical expenses and medical invoice receipts in order to receive reimbursement. Nathan Young Board Chair Fundraising advance for film production of The Sacred Thread X 250000 250000 0 1 1 250000 Schedule L, Part II Both loans received in 2024 are an advance for filming The Sacred Thread television series and Lord's Prayer film. These loans are interest free for one year and the purpose was to allow the team to finish filming while continuing to fundraise the remaining funds needed to finish the media project. We expect to repay the loans by years end 2025. X 3 113470 Cash Sale of Stock X Donated Interest Received 2 38062 term of loan interest percentage 0 0 1 0 Schedule M, Part I, Line 9 Stock donations are immediately sold upon receipt and cash is deposited into our Walking The Text account. Stock gifts are not held for any length of time. Schedule M, Part I, Lines 25-28 This was donated interest received for two loans we took out. The loans were interest free the first year so on the books the donated interest is received and then it is expensed as interest paid. Form 990, Part VI, Section A, Line 1a Line 1a: There are 5 members of the governing body although Brad Gray (Executive Director/President), does 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 6) at the end of 2024 but he did not start officially until Jan 2025. 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 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 Hala Saad 412 Mills St Fort Worth TX 76102 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 12a 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 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 and The Lord's Prayer Film. We will continue to work with them in order to produce the remainder of Season 1 in 2025. We have plans to produce up to 7 seasons and thus will require significant funds payable to them to produce the show. Funds paid to them are capitalized as intangible assets. Form 990, Part VIII, Line 1f Line 1f: Of these total contributions, $399,552 was specifically earmarked for the upcoming video series we are producing. Production began 2021 and is scheduled to complete by years end 2025. These funds will cover the program, management, and production costs for a portion of Season 1 of The Sacred Thread and The Lord's Prayer film. This year all of those funds were capitalized as intangible assets. In addition, $67,537 of these were specifically earmarked (and released) for scholarships for study trips. Also, worth noting here that $38,062 was the donated interest received from two loans. See schedule M. Form 990, Part VIII, Line 1g $38,062 of these non cash contributions were donated interest received from two loans we received. The remaining $113,470 was received from stock contributions which were immediately sold. See schedule M. Form 990, Part VIII, Line 10b It's worth noting that COGS on the 990 is represented on the Statement of Revenue and not the Statement of Expenses. When Capin Crouse performs the audit they represent COGS on the expense side which is why the total revenue total is different on the 990 and audited statements. See schedule D for more detailed explanation and reconciliation. Form 990, Part IX, Line 2 Line 2: $72,325 was given to a total of 11 individuals for assistance on study trips to Israel and Turkey. We received $67,537 of funding specifically designated for scholarships this year. Form 990, Part IX, Line 9 $12450 paid towards HRA for employee Brad Gray, $12,135 paid towards HRA for employee Marcus Naugler, $12,450 paid towards HRA for employee Brad Nelson, $9338 paid towards HRA for employee April Gaddis, and $1498 paid towards HRA for employee Paul Weber for a total of HRA Benefits of $47,870. The family IRS limit for full-time, all year employees was $12,450. Form 990, Part IX, Line 11b Line 11b: $445 for general legal services and cost of updating current and creating new policies, and $36400 was paid to a consultant for fundraising strategy. Form 990, Part IX, Line 11g Total expenses here are $14430 and these are contractors expenses for April Gaddis before she was hired as an employee, as well as web development contractors expense. Form 990, Part IX, Line 17 Line 17: $17947 were total travel expenses and then $5303 of these expenses were reimbursed by years end. Form 990, Part IX, Line 20 This interest expense reflects the expense side of the transaction for the donated interest received of $38,062. The received interest is reflected in non cash contributions on Part XIII, line 1g. Because donated interest was received and then expensed, the balance is $0. Form 990, Part IX, Line 24e Total expense here is $9050 which includes $145 gifts given, $737 online store setup, $3817 equipment expense, $1689 software expense, and $2662 utilities expense, Then a decrease of $1227 other business expenses were recorded to increase retained earnings and adjust per Capin Crouse recommendation so total on this line is $7678. Form 990, Part X, Line 14 These intangible assets are all The Sacred Thread docuseries and The Lord's Prayer Film. We received two loans this year totaling 1.25 million and these funds were paid to Evolve Studios and classified as intangible assets. Form 990, Part X, Line 19 This is deferred revenue from a book contract that will be complete November 2025. This payment of $35,700 is the first installment of the advance. The second will come after final drafts are edited and the third will come once the book releases. Form 990, Part X, Line 22 As previously mentioned we received two loans this year that were interest free for the first year. One totaled $1M and the other $250K. These loans plan to be repaid by March 2026. These funds went to Evolve Studios to pay for production, filming, and other costs associated with completing The Sacred Thread and Lord' Prayer film. The loan of $250K was from related party board member Nate Young. See note Part X, line 23 for other loan. Form 990, Part X, Line 23 As previously mentioned we received two loans this year that were interest free for the first year. One totaled $1M and the other $250K. These loans plan to be repaid by March 2026. These funds went to Evolve Studios to pay for production, filming, and other costs associated with completing The Sacred Thread and Lord' Prayer film. The $1M loan was from the Lanting Foundation and is secured by a $1M life insurance policy payable to the Lanting Foundation. 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 third year we have conducted an audit compilation. The final audit is provided with form 990.