Item 5 – Additional Compensation .............................................................................................................. 22 Item 6 – Supervision .................................................................................................................................... 22 Timothy Financial Counsel, Inc. (“TIMOTHY”) is a fee-only, hourly-only financial advisory firm. It was incorporated in 2000 and registered as an Investment Adviser in 2001. The primary owner is Mark T. Berg with Brian Wildman, Hoan Taussig, Michael Thrasher, Kara Beth Vance, Jacob Frerichs, and Lydia Newby as the other principal owners. In February 2022, the firm moved from state to SEC registration. “Registration” means only that Timothy Financial Counsel, Inc. has met the minimum requirements for registration as an investment advisor and does not apply a certain level of skill or training or that the SEC or any other regulator guarantees the quality of our services or recommends them. TIMOTHY focuses on providing financial planning services primarily through individual consultations. Advisory services may involve advice on income, cash flow management, retirement, financial independence, college funding, estate planning, investments, tax saving strategies, and risk management. Investment advisory consultations can be general in nature or focus on particular areas of interest, depending on the client’s needs. Advice and/or recommendations will be based upon information provided by the client, which the advisor will deem to be reliable. Advice and/or services may be limited in scope. Work is provided on a time- based hourly assumption, although actual billing may be charged by hour, by fixed project fee, or by quarterly fee. Our advice, particularly on investments, is not ongoing and therefore terminates upon delivery of the plan/advice. The advice given may include the recommendation of annual reviews/updates and it would be the Client's responsibility to initiate additional services as may be needed. TIMOTHY does not have any assets under management. We do not custody any assets nor have trading authority over any funds of our clients. We do not require a minimum net worth or a minimum income level to be a client. The individual advisory services provided are at the request of the client and vary with each client we have. The number of hours required to provide each service depends completely on the complexity of each client’s situation. Generally, our clients fall into one of 7 categories and the fees will vary depending on the actual services requested and the level of complexity involved. Below are examples of the 7 categories. The description includes the advisory services TIMOTHY typically offers, the level of complexity the client might have, and the corresponding fee range. Start-the-Clock Hourly Advice (rate of planner) This option is an open-ended meeting where clients can bring documents and start asking questions. We provide general advice based on their situation without detailed analysis. No written presentation or report is provided unless requested. This is most appropriate for clients who are looking to have a specific question answered such as “What employer benefits should I take advantage of?” The final cost is based on actual time involved. Next-Gen Planning ($1,750 - $6,000) This is a general review of a client’s financial situation. It involves identification of client goals, data gathering, financial planning analysis and presentation of recommendations. It will provide fundamental financial planning strategies to help clients towards their goals. It may provide an overview of client’s financial situation, some cash flow projections, asset allocation or other advisory services. This is most appropriate for younger clients who do not need a comprehensive financial plan, have basic financial and investment needs, and/or need guidance on making initial financial decisions. Cost is determined by complexity of client’s situation and actual time will be billed. Level 1 Financial Plan ($3,500 - $7,000) This would be a financial plan focused on the areas requested by the client and involves a modest level of complexity. The time for this level can range from 10-20 hours, depending on the actual services requested and the complexity of the situation.
• It typically includes basic tax planning strategies, introduction of college savings, basic retirement contribution decisions, exploration of retirement timing, basic insurance sufficiency and/or introduction of estate design.
• Clients may receive a detailed cash flow projection and comprehensive report with recommendations for financial goals, investment analysis and possibly basic insurance or estate design. Level 2 Financial Plan ($4,200 - $8,750) This would be a financial plan focused on the areas requested by the client and involves a moderate level of complexity. The time for this level can range from 12-25 hours, depending on the actual services requested and the complexity of the situation.
• It typically includes tax planning strategies, college savings, multiple retirement contribution

options, assessing an expected retirement date, investment analysis, and/or review of insurance sufficiency and estate design.
• Clients may receive a detailed cash flow projection and comprehensive report with recommendations for financial goals, investment analysis, insurance, or estate design. Level 3 Financial Plan ($5,250 - $10,500) This would be a financial plan focused on the areas requested by the client and involves a medium level of complexity. The time for this level can range from 15-30 hours, depending on the actual services requested and the complexity of the situation.
• It typically includes more advanced tax planning strategies, advanced employee benefit options, projecting an expected retirement date, small business consulting, annuity discussions, investment analysis, and/or review of multiple insurance policies or simple estate documents.
• Clients may receive a detailed cash flow projection and comprehensive report with recommendations for advanced financial goals, investment analysis, insurance advice or estate development. Level 4 Financial Plan ($8,750 - $18,000) This would be a financial plan focused on the areas requested by the client and involves a moderately high level of complexity. The time for this level can range from 25-40 hours, depending on the actual services requested and the complexity of the situation.
• It typically includes advanced tax planning strategies, advanced employee benefit options, pre-retirement decisions, small business consulting, annuity decisions, investment analysis, review of multiple insurance policies and/or moderately complex estate documents.
• Clients may receive several detailed cash flow projections and a comprehensive report with recommendations for financial goals, investment analysis, insurance advice or estate development.
• This level typically will include clients who have multiple levels of compensation, have an appreciable percentage of net worth in employer grants/options/RSUs, have multiple deferred compensation elections, or own a business with employees. Clients who have several term and permanent life insurance policies or complex estate documents would fall into this level as well. Level 5 Financial Plan ($18,000 or more) This would be a financial plan focused on the areas requested by the client and involves an extremely high level of complexity. The time for this level will range from 40 or more hours, depending on the actual services requested and the complexity of the situation.
• It typically includes advanced tax planning and estate planning strategies, executive level employee benefits, early financial independence decisions, small business consulting, investment analysis, review of highly complex insurance policies or highly complex estate documents. It could also include legacy planning or complex gifting strategies.
• There are multiple client meetings to review several areas of services. Significant time is spent discussing financial goals, data gathering and analyzing the client’s complex financial situation. Clients may receive written, detailed recommendations on each area of service as requested.
• This level typically will include clients who are particularly complex because they either have substantial wealth ($10+ million), large or complicated estates, or unique assets like partnerships and shares in private businesses. In addition to hourly financial planning services, TIMOTHY employees may periodically provide educational seminars requested by third parties such as a business, fraternal association, or non-profit group. These seminars can provide education on basic financial planning concepts or a specific financial topic as requested. The firm may be paid a flat fee for the employee’s time by the sponsoring party. TIMOTHY is not paid by attendees for the seminar, although attendees may independently contact TIMOTHY afterwards to engage our hourly financial planning services. When we provide financial advice to clients of any complexity or level, we act as a fiduciary. This includes clients who seek advice regarding their retirement plan accounts or individual retirement accounts. For these types of accounts, we act as a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. As a fiduciary, we are required to act in our clients' best interest and not put our interests ahead of their's. This includes: • Meeting a professional standard of care when making investment recommendations (give prudent advice); • Never putting our financial interests ahead of our clients when making recommendations (give loyal advice); • Avoiding misleading statements about conflicts of interest, fees, and investments; • Following policies and procedures designed to ensure that we give advice that is in our clients' best interest; • Charging no more than is reasonable for our services; and • Giving our clients basic information about conflicts of interest.