Far East Broadcasting Company
Nonprofit profile at a glance
- EIN
- 951461574
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Frisco, TX, USA
- Phone
- 5629474651
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Religious Radio
- Affiliation
- Christianity
Reported finances
- Revenue
- $22,872,714
- Expenses
- $17,700,563
- Assets
- $26,917,339
- Liabilities
- $3,251,211
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- EDWARD CANNON (PRESIDENT AND CEO)
- CLIFF MCARDLE (SPECIAL ASSISTANT TO THE PRESIDENT)
Highest reported compensation
- EDWARD CANNON (PRESIDENT AND CEO): $360,846 total reported compensation
- SCOTT HASSEL (CAO, TREASURER AND CFO): $199,543 total reported compensation
- MARY K PARK EXECUTIVE (DIRECTOR, KOREAN MINISTRIES): $147,954 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Far east broadcasting company (febc) exists to develop christian radio/internet programming and discipleship ministries for a global audience.
What it reported doing in 2024
The u.s. Office provides leadership, consulting services and training to 19 affiliate offices, including studios, office space, communication services and it support. The u.s. Office also administers planned giving programs including charitable gift annuities, charitable trusts, wills and bequests, etc.
Operating model
- Revenue model
- Donor-supported. 77% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 44% for direct work, and 56% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 82
- Transparency & Controls: 75
- Accountability: 100
- Sustainability: 68
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 91.6%; rating input score 92
- Program expense ratio: 82.2%; rating input score 82
- Fundraising efficiency: $6.94 raised per $1 spent on fundraising; rating input score 28; 28th percentile among comparable filings
Transparency & Controls
- Consistency checks: 94.7%; rating input score 95; 24th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: 2 of 8 controls in place; rating input score 25
- Claims monitoring procedures: Pass
- Requires narrative reports: Limited
- Conducts field audits: Limited
- May suspend future funding: Limited
- Requires financial reports: Limited
- Conducts site visits: Pass
- Requires grant agreements: Limited
- May require repayment: Limited
- Grant itemization coverage: 100%; rating input score 100; 40th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 22.6%; rating input score 84; 84th percentile among comparable filings
- Total-asset coverage ratio: 1.52; rating input score 51; 51st percentile among comparable filings
- Liabilities to assets ratio: 0.12; rating input score 70; 70th percentile among comparable filings
- Officer compensation ratio: 6.3%; rating input score 41; 41st percentile among comparable filings
Growth
- Program expense growth: 6.8% per year; rating input score 100; 54th percentile among comparable filings
- Revenue growth: 6.4% per year; rating input score 100; 55th percentile among comparable filings
- Asset growth: 6.8% per year; rating input score 100; 47th percentile among comparable filings
Details
- Where the money goes: 91.6% of revenue deployed · 82.2% of spending went to programs
- Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $14.6M in reported program spending
- Leadership: top reported pay $361K · 18 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.9M reported
- Consistency: 41 of 42 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes major donors, foreign activity, and executive pay
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 28/100.
- Review — Sustainability: Total-asset coverage ratio scored 51/100.
- Moderate — Sustainability: Officer compensation ratio scored 41/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.