Way Media Inc

What it reported doing in 2021

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.

Financial Efficiency

• Mission deployment rate: 52.6%; rating input score 53
• Program expense ratio: 64.1%; rating input score 64
• Fundraising efficiency: $8.24 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 16th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 88.9%; rating input score 89; 20th 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: 20.6%; rating input score 78; 78th percentile among comparable filings
• Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
• Liabilities to assets ratio: Limited
• Officer compensation ratio: 13.4%; rating input score 9; 9th percentile among comparable filings

Growth

• Program expense growth: 3.8% per year; rating input score 100; 43rd percentile among comparable filings
• Revenue growth: 4.6% per year; rating input score 100; 45th percentile among comparable filings
• Asset growth: 0.7% per year; rating input score 100; 14th percentile among comparable filings