Way Media Inc

EIN: 592659856 501(c)(3)

Colorado Springs, CO

Total Revenue
$18,831,915
Total Expenses
$14,951,759
Total Assets
N/A
Net Assets
N/A
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Organization Details

Formation Year
1985
Legal Domicile
FL
Principal Officer
Tim Dukes
Phone
7195330300
Tax Period
2021-07-01 to 2022-05-19

Way Media Inc, founded in 1985, is a mid-sized nonprofit that reported $18.8M in total revenue in fiscal year 2021. The organization ran a surplus of $3.9M, a strong 21% operating margin.

Mission

WAY Media, d.b.a. WAY-FM Media Group, Inc. (WAY-FM) operates commercial and non-commercial WAY-FM Christian radio stations and a radio network. WAY-FM uses media in a culturally relevant way to influence this generation to love and follow Jesus.

Program Service Accomplishments

Program 1
Expenses: $9,579,247 Revenue: $2,764,352

Life can be overwhelming, and most people have a hard time finding a source of encouragement and hope. At WayFM, we point people to Jesus with meaningful music and honest conversation so they can...

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Life can be overwhelming, and most people have a hard time finding a source of encouragement and hope. At WayFM, we point people to Jesus with meaningful music and honest conversation so they can experience strength and joy during life's challenges. We are currently reaching more than 3 million people each month through broadcast radio, streaming channels, the WayFM app, YouTube and our websites, WayNation.com and WayFM.com. In all, WayFM has created and is producing 14 products and growing and is investing in digital media to stay culturally relevant. Additionally, we serve our audiences by sending free Bibles to anyone who requests one, and by praying with and providing spiritual care and follow up ministry for tens of thousands every year. At WayFM, our results are best demonstrated by our local involvement in the communities where we serve, and in our commitment to ministry, both on the radio and behind-the-scenes. Some of our specific programs include: 1. Mission: We point people to Jesus with meaningful music and honest conversation, every day on the radio and using digital and social media. Additionally, we host a prayer website to Get Prayer or Join us in Prayer, providing listeners a place to submit their prayer requests, anytime. Our staff and volunteers also pray for almost 50,000 requests this year. We make sure that each request is prayed for 10 or more times, ensuring that each person will receive 10 or more texts or emails that "someone at WayFM just prayed for you." Our listeners, digital users, volunteers, and staff prayed more than 500,000 prayers last year. 2. Providing Spiritual Care. We employ four Prayer and Outreach Pastors (one full-time, three part time) that serve behind-the-scenes with spiritual care to several thousand each year that have reached out to us. They encourage and care for hurting people and encourage them towards involvement in a local church.Free Bibles. WayFM offers a free Bible to all those who request one. Approximately 5000 Bibles are mailed each year. Recipients include listeners who are incarcerated, impoverished, or those who are new to or seeking faith. 3. Live Concerts and Events (including Virtual Events). Through its local stations, WayFM promotes LIVE concerts and events each year to also help fulfill our mission and make a connection with community. Thousands attend WayFM concerts every year. 4. Discipleship World's Biggest Small Group. WayFM helps listeners with ongoing spiritual growth by providing the World's Biggest Small Group. Each year, tens of thousands participate in the WBSG. This virtual small group is promoted annually across all our platforms and features a daily email devotional with a spiritual theme or study. Well-known personalities and influencers join and participate in the group to share their own personal stories, all designed to help our people grow in their faith. Word on the Way. WayFM shares a daily Bible verse for each day, every hour, on the radio. Additionally, we offer the daily scripture via email to subscribers who request it, and through social media. 5. 24/7 Chat. WayFM offers live online chat where people can chat with "someone who cares" to help answer questions and give spiritual guidance and encouragement. This evangelistic tool is provided in cooperation and partnership with Groundwire Ministries.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $15,476,083
Program Service Revenue $2,764,352
Investment Income $630,628
Other Revenue $-39,148
TOTAL REVENUE $18,831,915

Expense Breakdown

Grants Paid $4,900
Salaries & Benefits $7,206,046
Fundraising Expenses $1,877,404
Program Expenses $9,579,247
Other Expenses $7,378,403
TOTAL EXPENSES $14,951,759

Year-over-Year Comparison

2021 2020 Change
Revenue $18,831,915 $19,398,168 0.0%
Expenses $14,951,759 $15,729,751 0.0%
Net Income $3,880,156 $3,668,417 +0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
8
Employees
112
Volunteers
58

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$210,456
Total Directors
9
$210,456
Key Employees
3
$662,134
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Tim Dukes Interim CEO/President 40.00
Officer Director
$196,105 $14,351 $210,456
Nancy Overfield Director/Chair 1.00
Officer Director
$0 $0 $0
Andy Burdsall Director/Treasurer 1.00
Officer Director
$0 $0 $0
Curt Swindoll Director/Secretary 1.00
Officer Director
$0 $0 $0
Ash Greyson Director 1.00
Director
$0 $0 $0
Mark Maxwell Director 1.00
Director
$0 $0 $0
Gregg Capin Director 1.00
Director
$0 $0 $0
Joe Battaglia Director 1.00
Director
$0 $0 $0
Gabrielle Bosche Director 1.00
Director
$0 $0 $0
Billy J O'Neal Chief Development Officer 40.00
Key Emp
$203,345 $31,930 $235,275
Ron Harrell VP, Content 40.00
Key Emp
$200,250 $25,938 $226,188
James Marshall VP, Broadcast Operations 40.00
Key Emp
$167,457 $33,214 $200,671
Gary Wallace Morning show host 40.00
Highest
$161,082 $28,135 $189,217
Mike Jenkins Director, Underwriting & Sales 40.00
Highest
$137,105 $30,917 $168,022
Donald Taft Ayers Business Development Director 40.00
Highest
$150,853 $6,590 $157,443
Zach Cochran Regional Manager 40.00
Highest
$122,128 $31,378 $153,506
Michael Tedesco Regional Manager 40.00
Highest
$125,697 $21,827 $147,524
John Scaggs Former CEO (Former Officer) 0.00
$285,700 $28,528 $314,228
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2022 $18,831,915 $14,951,759 No data $3,880,156
2021 $19,398,168 $15,729,751 $26,819,663 $3,668,417
2020 $19,028,429 $15,648,309 $26,998,689 $3,380,120
2019 $17,285,546 $15,371,590 $22,526,613 $1,913,956
2018 $16,084,089 $14,541,381 $21,010,745 $1,542,708
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