Statement from Inspiration Networks
03/09/2012 12:00 AM
03/09/2012 4:20 PM
In 2010, The Inspiration Networks developed new programming and marketing strategies that reflected market conditions and economic realities. These changes have been successful, and as a result, INSP became among the fastest growing cable and satellite networks in America.
INSP now is the highest rated Christian television network with viewership that ranks in the top 25% of all cable television networks.
Through its four television networks, Inspiration's programming is available in more than 120 countries. INSP alone reaches over 72 million homes in the U.S.
In 2011, The Inspiration Networks broadcast over 11,000 hours of Christian programming.
Inspiration's prayer ministry responded to over 500,000 phone calls for prayer in 2011, mailed over 2,000,000 monthly devotional magazines and received almost 7,000 professions of faith in response to its broadcasts.
CITY OF LIGHT DEVELOPMENT:
The Inspiration Networks remains committed to developing all aspects of the City of Light. Unfortunately, just as the rest of the country has been affected by the economic malaise, so too has Inspiration's ability to move forward with additional development plans. Inspiration continues to be excited about the City of Light vision.
While plans for continued development of the City of Lighthave been slowed, The Inspiration Networks have expanded its commitment to serve the greater community.
Compensation within Non-Profit Organizations:
The Inspiration Networks works closely with independent industry experts to insure it adheres to all established guidelines for compensation within non-profit organizations.
Compensation within The Inspiration Networks
Since its founding, The Inspiration Networks and its associated ministries has worked diligently to ensure that all employee compensation is fair, equitable and competitive with comparable positions in cable television networks and national ministries.
Compensation for all employees is established through nationally-accredited compensation specialists, who utilize industry-specific studies and surveys from organizations such as CATHRA (Cable and Telecommunications Human Resources Association), Employer Associations of America, Watson and Wyatt, and a host of other industry compensation studies.
External compensation specialists review organizational charts, job titles and job descriptions, and develop comparable salaries from its review of media companies, cable television networks, national ministries and companies where similar functions are performed and make recommendations.
The Facts About David Cerullo's Compensation as Chairman and CEO of The Inspiration Networks.
By law, David Cerullo cannot and does not participate in any decision about his own salary or the compensation of any family members employed by the company.
David Cerullo's compensation is established by a Board of Directors utilizing reports and recommendations of an independent executive compensation committee. He is not present during the Board's review and does not participate in these discussions or their decisions.
The independent executive compensation committee is comprised of four members, three CPAs and one attorney.
To assure objectivity, none of the members of this committee are employed by or have any association with The Inspiration Networks. None serve on its Board.
This committee compares his compensation with other executive compensation of similar organizations with similar levels of responsibility. This includes cable television network CEOs, senior media company executives, CEO's of faith-based national ministries, and pastors of churches.
This committee makes a recommendation to the board of directors for David's compensation. After thorough review and discussion the Board votes on the recommendation.
In accordance with IRS regulation, neither David nor Barbara Cerullo (nor any other family members) are present during this entire process.
Unlike most media executives, he receives no additional compensation by way of stock options or bonuses, both of which are normal and customary in the determination of total compensation for CEO's within cable television networks.
He receives no royalties on the sale of his books, DVDs or CDs.
David Cerullo has the same earned vacation benefits and sick leave as every other employee of the company.
David Cerullo does not receive expense accounts or deferred accounts.
NOTE: A study conducted by the Urban Institute regarding non-profit employee compensation found expense accounts and other allowances serve as important supplements for base pay, particularly among faith-related organizations.
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