| Financial Accountability Policy |
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At WAY-FM, our unique ministry involves presenting the needs of our culture's youth to God's people who believe in this work, then trusting the Holy Spirit to touch the hearts of those whom He wants to participate in meeting those needs. We believe that all we have comes from God, and we must employ Godly principles, patterns, and practices in handling what He entrusts with us (1 Chronicles 29:14b). The Lord provides WAY-FM with resources for ministry through individual donors. We strive to honor Christ by developing edifying relationships with partners who support this ministry. In turn, we recognize our accountability both to Him and to our donors. We have a responsibility to be faithful stewards and to maintain integrity and openness in our financial practices. Therefore, we are committed to fulfilling the following standards: • We subscribe to our Core Values and a written statement of faith called What We Believe, affirming our commitment to the evangelical Christian doctrine, and our deep desire to live it out everyday. Providing hope, encouragement, and a purpose for living in Christ is the objective of our financial conduct. These documents are available upon request or at www.wayfm.com. • A responsible and qualified Board of Directors, the majority of whom are not staff members or their relatives, governs us. Our full Board meets at least four times annually to establish policies, set budgets, oversee operations, and review ministry accomplishments. A list of our board members and their backgrounds is available upon request. • Our financial statements are prepared in accordance with generally accepted accounting principles. We obtain an annual audit in accordance with generally accepted auditing standards by the independent public accounting firm Capin Crouse, LLP, certified public accountants, the country’s leading accounting and advisory firm primarily serving the Christian not-for-profit community.” Capin Crouse's clients include nearly 400 organizations nationwide including many leading ministries. Copies of our current audited financial statements are available upon request. • Our Board appoints an Audit Committee to review the annual audit and report its findings to the Board. No staff or their relatives serve on this committee. • We seek to conduct our activities with the highest standards of integrity and to avoid conflicts of interest. Because we believe that it is God's place to prompt a response to our fundraising appeals, we shun high-pressure or manipulative fund-raising tactics, and encourage our donors to support their local church before any other considerations. • WAY-FM is a member in excellent standing with the Evangelical Council for Financial Accountability (ECFA) and fully subscribes to their Standards for Responsible Stewardship. • Our fundraising appeals clearly identify the purpose to which donations will be applied, and we ensure that donations are used for the purposes of which they were raised. Our Board has directed that all contributions designated for specific projects shall be applied to those projects. Our policy is to meet the needs God lays before us, so that Christ is honored in our efforts, and His love and message is advanced. • Contributions to the ministry are tax-deductible to the full extent allowed by law. In order to help our donors determine the tax-deductible portion of their gifts, we receipt all donations in a timely manner showing, if needed, the fair market value of any goods or services provided to the donor. • We will not operate this ministry with indebtedness that dishonors the cause of Christ and hinders His work. When we make a purchase, we intend to pay the approved invoice within terms. We occasionally borrow funds for capital expenditures, general corporate purposes and working capital. Borrowed funds are always repaid in a timely manner and never exceed the agreed upon repayment terms. In many instances, we strive to repay these borrowed funds on an accelerated schedule. • Out of respect for individuals' privacy, we do not sell, trade or rent personal information including our mailing list, to others wishing to use the names and addresses of our supporters. We maintain tight security on our list of friends and supporters. |
