Engaging America's corporate boardrooms

For decades leading up to 2022, American Family Association (AFA) held shares in various publicly traded companies but functioned as a passive shareholder – meaning AFA did not attend annual shareholder meetings, submit proposals, or otherwise engage with the companies’ investor relations teams.
In 2022, AFA realized that being passive left room for missed opportunities, especially considering the activist nature of AFA. Culture, activism, and engagement are in this ministry’s DNA.
Since this realization, AFA has been using its investment portfolio to be an active shareholder, thanks to a partnership with Bowyer Research, led by CEO Jerry Bowyer. From Bowyer’s assistance in drafting emails to preparing for corporate meetings, working with this research corporation has been a phenomenal experience for AFA.
This partnership has afforded AFA the opportunity to present at the annual meetings of Apple Inc., Amazon.com Inc., The Home Depot Inc., Intel Corporation, and Deere & Company (John Deere). Below is a summary of AFA’s shareholder victories among these companies and others, thus far, in 2026.

Apple Inc.
Through a shareholder proposal originally submitted in
2025, AFA pushed Apple for increased transparency on the steps the company takes to combat online child sexual abuse material (CSAM) on its messaging and cloud storage platforms. After securing sufficient investor support at last year’s annual meeting, the proposal was eligible for resubmission. (See The Stand, 1-2/26.)
After meetings with Apple investor relations representatives this year, and in concert with growing legislative and reputational scrutiny of the company, Apple informed AFA that it would do two things: 1) tighten enforcement over the Apple App Store to ensure that users are only advertised age-appropriate applications specific to the user’s age, and 2) implement abuse protocols for all underage users. Because Apple took such major steps, AFA withdrew its proposal.

Bank of America Corporation
AFA pushed Bank of America to clarify its use of prohibitions on religious organizations to vet charities for eligibility in employee match programs. Filed on behalf of AFA, the proposal pointed out the growing controversy surrounding disparate treatment of religious organizations in gift-match programs, and the legal and reputational risks associated with discrimination based on an organization’s religious nature.
Following several meetings with Bank of America investor relations representatives, the company confirmed that it would be matching employee donations to all otherwise eligible organizations, regardless of religious status. Therefore, AFA withdrew its proposal.

Walmart Inc.
Two shareholder proposals urged Walmart to commit to political neutrality on critical issues: 1) coverage of gender transition surgeries in health care plans, and 2) distribution of mifepristone, a drug commonly used in chemical abortions.
The first proposal, filed by Inspire Investing, urged Walmart to draw bright lines regarding what the company’s health care plans will and will not cover, particularly given the rising controversy over gender-related medical interventions. Following investor relations meetings, the company confirmed that its current benefits book, which is publicly available, does not cover transition surgeries for minors.
The second proposal, filed on behalf of AFA, urged Walmart to clarify its plans regarding the future sale of drugs used in chemical abortions. The proposal cited a preliminary Bowyer Research analysis indicating that the sale of abortion pills
creates lost revenue. After meetings with Walmart investor relations representatives, the company confirmed that it has no plans to dispense mifepristone. (See The Stand, 4/26.)
Both proposals were withdrawn.

Activist nature
These victories are evidence that engaging corporate America with truth and Christian values comes naturally for AFA. It has been part of AFA’s DNA since the ministry’s beginnings in 1977, and with each year that passes, the work of AFA is only growing stronger.
Lord willing, AFA will continue speaking truth into America’s corporate boardrooms and experience many more victories ahead.