Prophecy extends beyond future predictions, encompassing both the written word (Logos) and God's spoken word (Rhema). It serves three main purposes: to build up, call near, and console believers. While prophecy includes both foretelling and forth-telling dimensions, its authenticity is marked by pointing to Jesus and flowing from intimacy with God. This spiritual gift isn't reserved for a select few - it's available to all believers who are willing to develop their relationship with God and step out in faith.