Concerns over NCF California

NCF California is a separate California nonprofit corporation—not simply a California office of the Georgia corporation. • NCF National: National Christian Charitable Foundation, Inc. — EIN 58-1493949 • NCF California: legally Foundation for Christian Stewardship Corporation, doing business as NCF California / National Christian Foundation of Southern California — EIN 20-4496482 • NCF California is separately incorporated, separately taxexempt, and files its own Form 990. Public nonprofit records classify it as an independent organization, not a parent or subsidiary. • Nevertheless, it operates within the broader NCF network and uses the NCF brand, systems and Giving Fund model. NCF California's 2024 Form 990 shows: Revenue: $1.766 million Expenses: $2.440 million That produced a: -$674,000 operating loss. At the same time, the California organization had only approximately $229,000 of net assets at year-end. 2