2025-04-13T21:26:34-05:00 2024-05-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2023-06-01 410708577 BETHEL UNIVERSITY BETH 6516386208 3900 BETHEL DRIVE ST PAUL MN 551126999 JOEL COSTA CFO & VP OF OPERATIONS 6516386208 2025-04-12 1 1 ANN NEIL P01817922 6123764500 2025-04-12 2023 2025-03-06 01:10:19Z ROSS ALLEN 3900 BETHEL DRIVE ST PAUL MN 551126999 157640383 0 X WWW.BETHEL.EDU X 1996 MN TO EDUCATE AND ENERGIZE MEN AND WOMEN FOR EXCELLENCE IN LEADERSHIP, SCHOLARSHIP AND SERVICE. 30 29 2223 30 29682 0 11483339 14087780 110061576 110160731 3289412 2882886 88148 4688 124922475 127136085 37331487 36939339 0 0 54070919 51232897 0 0 1137195 34209849 36986492 125612255 125158728 -689780 1977357 220920531 235708441 79681443 75346676 141239088 160361765 X BOLDLY INFORMED AND MOTIVATED BY THE CHRISTIAN FAITH, BETHEL UNIVERSITY EDUCATES AND ENERGIZES MEN AND WOMEN FOR EXCELLENCE IN LEADERSHIP, SCHOLARSHIP AND SERVICE. 0 0 65172279 36939339 92430690 EDUCATIONAL INSTRUCTION:COLLEGE OF ARTS & SCIENCES (LIBERAL ARTS, UNDERGRADUATE): 1,823 STUDENTS; GRADUATE SCHOOL AND COLLEGE OF ADULT & PROFESSIONAL STUDIES (ADULT DEGREE COMPLETION): 899 GRADUATE STUDENTS AND 376 UNDERGRADUATE STUDENTS;BETHEL SEMINARY: 368 STUDENTS 17566242 0 55220 ACADEMIC SUPPORT SERVICES:SERVICES INCLUDING BUT NOT LIMITED TO: BETHEL UNIVERSITY LIBRARY, OFFICE OF UNIVERSITY REGISTRAR, INFORMATION TECHNOLOGY SERVICES, HEALTH SERVICES, COUNSELING CENTER, AND ATHLETICS. 11604196 0 17680922 AUXILIARY SERVICES:SERVICES INCLUDING BUT NOT LIMITED TO: STUDENT HOUSING (APPROXIMATELY 2/3 OF STUDENTS ARE IN BETHEL HOUSING), FOOD SERVICE, CAMPUS STORE. 428943 0 0 FOUNDATION SUPPORT 428943 0 0 94771660 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 1 1 0 0 1 4242 0 1 2223 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 30 29 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MN CA X JOEL COSTA 6516386208 3900 BETHEL DRIVE ST PAUL MN 55112 ROSS ALLEN PRESIDENT 40.00 1.00 X X 351307 0 36540 ROBIN RYLAARSDAM UNIVERSITY PROVOST 40.00 0.00 X 170304 0 17584 PAUL MCGINNIS VP OF MARKETING & ENROLLMENT 40.00 0.00 X 147062 0 28080 CHRISTINA HANSON PHYSICIAN ASSISTANT PROGRAM DIRECTOR 40.00 0.00 X 141708 0 5923 RANDALL BERGEN ASSOC PROVOST COLLEGE OF ADULT & PROF STUDIES 40.00 0.00 X 138507 0 34667 MIRANDA POWERS VP OF STUDENT LIFE 40.00 0.00 X 134429 0 39283 CHUCK BROZ HVAC, PLUMBING & ELECTRIC SUPERVISOR 40.00 0.00 X 134670 0 39534 JEANNE OSGOOD CHIEF OF STAFF 40.00 0.00 X 131602 0 39541 JOEL COSTA VP OF FINANCE & OPERATIONS 40.00 1.00 X 107335 0 24802 ALAN JOHNSON CHAIR 5.00 0.00 X X 0 0 0 ANDREA SCHILLING VICE-CHAIR 5.00 0.00 X X 0 0 0 RANDY DORN TREASURER 5.00 0.00 X X 0 0 0 LINDA GOODWIN SECRETARY 5.00 1.00 X X 0 0 0 MICHAEL BROCKER TRUSTEE 5.00 0.00 X 0 0 0 LESLIE CHAPMAN TRUSTEE 5.00 1.00 X 0 0 0 JIM GREEN TRUSTEE 5.00 0.00 X 0 0 0 WAYNE JOHNSON TRUSTEE 5.00 0.00 X 0 0 0 RONN KREPS TRUSTEE 5.00 0.00 X 0 0 0 JOEL LAWRENCE TRUSTEE 5.00 0.00 X 0 0 0 DANIEL LINDH TRUSTEE 5.00 0.00 X 0 0 0 DAWN MARCUS TRUSTEE 5.00 0.00 X 0 0 0 LAURA MCKNIGHT TRUSTEE 5.00 1.00 X 0 0 0 CHRIS MEIDT TRUSTEE 5.00 0.00 X 0 0 0 STEPHANIE WILLIAMS O'BRIEN TRUSTEE 5.00 0.00 X 0 0 0 KRISTI PIEHL TRUSTEE 5.00 0.00 X 0 0 0 GEORGE SOLTERO TRUSTEE 5.00 0.00 X 0 0 0 ANN TSCHETTER TRUSTEE 5.00 0.00 X 0 0 0 STEVE WILHITE TRUSTEE 5.00 0.00 X 0 0 0 TROY KOPISCHKE TRUSTEE 5.00 0.00 X 0 0 0 GASBY BROWN TRUSTEE 5.00 0.00 X 0 0 0 SERGIO AMEZCUA TRUSTEE 5.00 0.00 X 0 0 0 DAVID EDGERTON JR TRUSTEE 5.00 0.00 X 0 0 0 LAMARR LARK TRUSTEE 5.00 0.00 X 0 0 0 JOHN K JENKINS TRUSTEE 5.00 0.00 X 0 0 0 KEN NABI TRUSTEE 5.00 0.00 X 0 0 0 STACIE STANLEY TRUSTEE 5.00 0.00 X 0 0 0 WENDY ULFRETS TRUSTEE 5.00 0.00 X 0 0 0 JON WICKLUND TRUSTEE 5.00 0.00 X 0 0 0 1456924 0 265954 36 0 1 0 SODEXO AMERICA LLC 9801 WASHINGTONIAN BOULEVARD GAITHERSBURG MD 20878 FOOD SERVICE MANAGEMENT 5903277 MODERN CLIMATE LLC 515 WASHINGTON AVE N SUITE 200 MINNEAPOLIS MN 55401 MARKETING AND 2692999 LOFFLER COMPANIES 1101 E 78TH STREET SUITE 200 BLOOMINGTON MN 55420 PRINT AND OFFICE SERVICES 618589 METROPOLITAN MECHANICAL CONTRACTORS 7450 FLYING CLOUD DRIVE EDEN PRAIRIE MN 55344 CONSTRUCTON/REMODELING 606334 DYNAMIC CAMPUS SOLUTIONS INC 2806 FLINTROCK TRACE SUITE A205 AUSTIN TX 78738 ITS MANAGEMENT 305300 47 51201 502100 1118236 12416243 391997 14087780 TUITION & FEES 611600 92430690 92430690 AUXILIARY SERVICES 611710 14692283 14675078 17205 OTHER STUDENT FEES 611710 3037758 3037758 110160731 1736751 1736751 17457 4980 12477 12477 12477 30772071 29625936 1146135 1146135 1146135 22844 51201 53939 -31095 -31095 842749 819443 23306 23306 127136085 110166832 29682 2851791 36820712 36820712 118627 118627 1093767 511858 227076 354833 37708001 27561190 9825321 321490 731271 540304 179333 11634 8995283 6652478 2200123 142682 2704575 1957912 700758 45905 391266 3045 388221 113154 113154 155443 155443 4112327 2001781 2015686 94860 3952897 270897 3607224 74776 2869220 1545731 1289257 34232 1916501 186525 1729976 3566432 540717 3025715 2529673 2215019 296942 17712 2282751 1849028 433723 5160862 4180298 980564 1203288 1203288 DUES MEMBERSHIP & LICEN 5306663 5306663 OTHER EXPENSES 3173231 2496766 637394 39071 REPAIRS & MAINTENENCE 252784 12109 240675 125158728 94771660 29249873 1137195 7105101 9021443 357763 1465666 4848460 1421454 3054831 4412988 745366 821774 794497 1034400 236052834 127338394 110598119 108714440 77378191 89896821 15869431 18918402 168772 1053 220920531 235708441 2916904 3630532 2623404 2432246 47641825 47513177 26499310 21770721 79681443 75346676 X 42331381 44391310 98907707 115970455 141239088 160361765 220920531 235708441 X 1977357 12336293 4809027 X X 0 1 X 1 0 X 21198033 16363024 47702138 11483339 14087780 110834314 21198033 16363024 47702138 11483339 14087780 110834314 47841507 62992807 1327839 344747 1388318 1200417 1736751 5998072 27600 14001 22844 64445 116896831 579570241 0.53890 0.53690 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - SPECIAL EVENTS - 2019 AMOUNT: $ 27,600. 2020 AMOUNT: $ 14,001. 2021 AMOUNT: $ 22,844. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 0 1 155443 155443 0 PART II-B, LINE 1: BETHEL UNIVERSITY IS A MEMBER OF THE MINNESOTA PRIVATE COLLEGE COUNCIL (MPCC), AN ORGANIZATION DESCRIBED IN SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. MPCC IS AN ASSOCIATION OF PRIVATE NONPROFIT INSTITUTIONS OF HIGHER EDUCATION THAT SERVES A VARIETY OF ITS MEMBERS' SHARED NEEDS, INCLUDING, BUT NOT ONLY NONPARTISAN AND NON-ELECTORAL ADVOCACY FOR PUBLIC POLICY THAT MEETS STUDENTS' NEEDS AND ADVANCES THE INTERESTS OF PRIVATE HIGHER EDUCATION. BETHEL PAID MEMBERSHIP DUES TO MPCC IN THE AMOUNT OF $ 155,443.00 DURING THE FISCAL YEAR. X X 0 89862596 8510450 14847321 3939264 109281103 92871511 2188105 554944 1377689 4374275 89862596 64840524 34385307 -3750197 1395928 1009435 198760 92871511 48774844 1992364 16393773 1262238 928280 129939 64840524 49766786 1107836 -84733 2015045 48774844 0.09020 0.73800 0.17180 0 1 1 2097758 2097758 178118746 83016974 95101772 17897639 10235981 7661658 37285127 34085439 3199688 653564 653564 108714440 HEDGE FUND INVESTMENTS 18918402 F 18918402 GIFT ANNUITY CONTRACTS 1373169 PENSION LIABILITY 19264755 LIABILITY FOR SELF-INSURANCE 456556 OTHER LIABILITIES 514516 PERKINS LOAN REFUNDABLE 49574 CAPITAL LEASE 112151 21770721 X 108225901 12336293 5692862 18029155 90196746 36939339 36939339 127136085 89097751 878362 878362 88219389 36939339 36939339 125158728 PART III, LINE 1A: BETHEL'S COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE BETHEL'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE BALANCE SHEET. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR AS TEMPORARILY RESTRICTED NET ASSETS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS. PROCEEDS FROM DE-ACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. BETHEL'S COLLECTIONS ARE MADE UP OF POTTERY, PRINTS, MUSICAL INSTRUMENTS, AND PAINTINGS THAT ARE HELD FOR EDUCATIONAL AND PERFORMANCE PURPOSES. EACH OF THE ITEMS ARE CATALOGED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS AS WELL AS TO SUPPORT PROGRAMS AND OPERATIONS. PART X, LINE 2: BETHEL HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE INDICATING IT IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS SUBJECT TO FEDERAL INCOME TAX ONLY ON NET UNRELATED BUSINESS INCOME. CONTRIBUTIONS ARE ALSO TAX DEDUCTIBLE. BETHEL HAS NO OBLIGATION FOR UNRELATED BUSINESS INCOME TAX. ACCORDINGLY, NO PROVISIONS FOR FEDERAL OR STATE INCOME TAXES ARE REQUIRED. BETHEL FOLLOWS ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBES A RECOGNITION THRESHOLD FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 53,939. COST OF GOODS SOLD 819,443. CHANGE IN GIFT ANNUITIES 340,651. RENTAL EXPENSES 4,980. CHANGE IN PENSION LIABILITY 4,468,376. CHANGE IN NONCONTROLLING INTEREST 452,261. FOUNDATION'S REVENUE -446,788. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONALLY FUNDED AID 36,939,339. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 53,939. COST OF GOODS SOLD 819,443. RENTAL EXPENSES 4,980. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONALLY FUNDED AID 36,939,339. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE POLICY IS PUBLISHED ON THE UNIVERSITY'S WEBSITE AND IN EMPLOYMENT, ADMISSIONS, AND REGISTRATION MATERIALS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FEDERAL AND STATE FUNDS FOR THE PURPOSE OF GRANTS AND WORKSTUDY. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 11576063 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS N/A 5929422 EAST ASIA AND THE PACIFIC 0 0 GRANT MAKING N/A 11881 SUB-SAHARAN AFRICA 0 0 GRANT MAKING N/A 68782 NORTH AMERICA 0 0 GRANT MAKING N/A 17929 SOUTH ASIA 0 0 GRANT MAKING N/A 20035 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD EDUCATONAL EXPERIENCE 118316 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDY ABROAD EDUCATONAL EXPERIENCE 261781 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD EDUCATONAL EXPERIENCE 36446 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD EDUCATONAL EXPERIENCE 120925 SOUTH ASIA 0 0 PROGRAM SERVICES STUDY ABROAD EDUCATONAL EXPERIENCE 159672 0 0 0 0 0 0 18004209 317043 18321252 GRANT MAKING EAST ASIA AND THE PACIFIC 2 20035 TUITION REDUCTION 0 N/A N/A GRANT MAKING SOUTH ASIA 1 11881 TUITION REDUCTION 0 N/A N/A GRANT MAKING NORTH AMERICA 2 17929 TUITION REDUCTION 0 N/A N/A GRANT MAKING SUB-SAHARAN AFRICA 3 68782 TUITION REDUCTION 0 N/A N/A 1 0 0 0 0 0 PART I, LINE 2: THE OFFICE OF FINANCIAL AID MONITORS THE ELIGIBILITY AND AWARDING OF SCHOLARSHIPS AND FINANCIAL AID TO STUDENTS BY REVIEWING STUDENT NEED BASED ON THE FAFSA REPORT, AWARDING BASED ON PRE-DETERMINED AID CRITERIA, AND MONITORING THE STUDENT STATUS EACH TERM. PART I, LINE 3: ACCRUAL METHOD BETHEL GOLF CLASSIC 74045 51201 22844 5000 17844 31095 74045 51201 22844 5000 17844 31095 53939 -31095 1 SCHOLARSHIPS & FINANCIAL AID 3005 36820712 0 N/A N/A PART I, LINE 2: THE OFFICE OF FINANCIAL AID MONITORS THE ELIGIBILITY AND AWARDING OF SCHOLARSHIPS AND FINANCIAL AID TO STUDENTS BY REVIEWING STUDENT NEED BASED ON THE FAFSA REPORT, AWARDING BASED ON PRE-DETERMINED AID CRITERIA, AND MONITORING THE STUDENT STATUS EACH TERM. THE UNIVERSITY ALSO REIMBURSES THE FOUNDATION FOR PAYROLL, AUDIT, AND OPERATIONAL EXPENSES DURING THE YEAR. X X X 0 0 0 0 0 0 0 0 0 ROSS ALLEN PRESIDENT 348994 0 0 0 2313 0 7110 0 29430 0 387847 0 0 0 ROBIN RYLAARSDAM UNIVERSITY PROVOST 169004 0 0 0 1300 0 3468 0 14116 0 187888 0 0 0 PAUL MCGINNIS VP OF MARKETING & ENROLLMENT 146778 0 0 0 284 0 3060 0 25020 0 175142 0 0 0 RANDALL BERGEN ASSOC PROVOST COLLEGE OF ADULT & PRO 137763 0 0 0 744 0 2912 0 31755 0 173174 0 0 0 MIRANDA POWERS VP OF STUDENT LIFE 134323 0 0 0 106 0 2761 0 36522 0 173712 0 0 0 CHUCK BROZ HVAC, PLUMBING & ELECTRIC SUPERVISOR 133961 0 0 0 709 0 2945 0 36589 0 174204 0 0 0 JEANNE OSGOOD CHIEF OF STAFF 131342 0 0 0 260 0 2884 0 36657 0 171143 0 0 0 A MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 60416H3Z5 2017-06-29 48960767 CONSTRUCTION & BOND RETIREMENT 0 0 0 A 48960767 3582806 39816856 564661 5000000 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 0 0 0 0 1 A 1 50693 TUITION BENEFIT TO PAY FOR TUITION X 5 312097 STOCK MARKET QUOTES X OFFICE FURNITURE 1 64900 FAIR MARKET VALUE X BUSHELS OF CORN 1 15000 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): COLUMN (B) IS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1A THE UNIVERSITY'S EXECUTIVE COMMITTEE IS COMPRISED OF THE BOARD CHAIR, VICE CHAIR, SECRETARY, TREASURER, ASSISTANT SECRETARY AND OTHER TRUSTEES AS SELECTED. THE EXECUTIVE COMMITTEE HAS THE POWER AND AUTHORITY TO ACT AS DELEGATED BETWEEN BOARD MEETINGS. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE UNIVERSITY INCLUDE REGULARLY ORGANIZED BAPTIST CHURCHES WHICH ARE MEMBERS IN GOOD STANDING OF THE CONVERGE ELECTED DELEGATES OF MEMBER CHURCHES, REGULARLY ELECTED MEMBERS OF THE CONVERGE BOARD, THE PRESIDENT OF THE CONFERENCE, THE OFFICERS OF THE BIENNIAL ASSEMBLY OF THE CONFERENCE, THE CHIEF ADMINISTRATIVE OFFICER OF EACH CONFERENCE DISTRICT, THE PRESIDENT AND CHIEF ACADEMIC OFFICERS OF BETHEL UNIVERSITY, THE MEMBERS OF THE BOARD OF TRUSTEES OF BETHEL UNIVERSITY, AND THE DULY CONFIRMED FULL TIME FACULTY MEMBERS OF BETHEL SEMINARY SERVE AS DELEGATES TO THE BIENNIAL ASSEMBLY OF THE UNIVERSITY WITH VOICE AND VOTE. FORM 990, PART VI, SECTION A, LINE 7A A MAJORITY OF THE UNIVERSITY'S BOARD OF TRUSTEES ARE ELECTED BY THE DELEGATES AT THE BIENNIAL ASSEMBLY. ADDITIONAL BOARD TRUSTEES MAY BE APPOINTED BY THE BOARD OF TRUSTEES SUBJECT TO CONFIRMATION BY THE DELEGATES AT THE BIENNIAL ASSEMBLY. TWO REPRESENTATIVES OF THE DISTRICT EXECUTIVE MINISTERS COUNCIL ARE APPOINTED BY THE BOARD OF THE COUNCIL. THE PRESIDENT OF THE CONVERGE AND THE PRESIDENT OF THE UNIVERSITY SERVE AS EX-OFFICIO MEMBERS OF THE BOARD OF TRUSTEES WITH VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 7B AMENDMENTS TO THE UNIVERSITY'S GOVERNING DOCUMENTS, ITS AFFIRMATION OF FAITH, ELECTION AND/OR CONFIRMATION OF BOARD MEMBERS, ELECTION OF A PRESIDENT, CONFIRMATION OF THE PROVOST AND FULL TIME TEACHERS IN THE SEMINARY ARE SUBJECT TO APPROVAL BY THE DELEGATES OF THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE UNIVERSITY'S PUBLIC ACCOUNTING FIRM BASED ON DATA PROVIDED BY MANAGEMENT. ONCE A DRAFT OF THE FILING IS AVAILABLE, MANAGEMENT REVIEWS THE RETURN AND PROVIDES FEEDBACK ON CHANGES TO THE DOCUMENT. THE PUBLIC INSPECTION COPY OF THE FORM 990 IS PROVIDED FOR REVIEW TO ALL BOARD MEMBERS, INCLUDING THE AUDIT COMMITTEE, PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY'S CONFLICT OF INTEREST POLICY APPLIES TO TRUSTEES, GOVERNORS, OFFICERS, AND EMPLOYEES WHO INFLUENCE THE ACTIONS OF THE ORGANIZATION OR MAKE COMMITMENTS ON ITS BEHALF. ALL TRUSTEES, GOVERNORS AND OFFICERS ARE REQUIRED TO COMPLETE AND SIGN AN ANNUAL DISCLOSURE FORM. ALL INDIVIDUALS ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST BEFORE A TRANSACTION IS CONSUMMATED. IF IT IS NOT CLEAR WHETHER AN EMPLOYEE HAS A CONFLICT, THE DECISION IS MADE BY THE RELEVANT SUPERVISOR - THE BOARD CHAIR, DEPARTMENT CHAIR, DEAN, VICE PRESIDENT OR PROVOST. IN THE CASE OF TRUSTEES, THE DECISION IS MADE BY THE BOARD OF TRUSTEES. AN INDIVIDUAL WITH A POTENTIAL CONFLICT ABSTAINS FROM VOTING ON THE MATTER AND WITHDRAWS FROM ANY RELEVANT DISCUSSION. THE BOARD OF TRUSTEES VOTES ON WHETHER THE TRANSACTION IS JUST, FAIR AND REASONABLE TO THE ORGANIZATION. THE MINUTES OF THE MEETING OF THE BOARD OR COMMITTEE SHALL REFLECT THE CONFLICT OF INTEREST WAS DISCLOSED AND THAT THE INTERESTED INDIVIDUAL WAS NOT PRESENT DURING THE FINAL DISCUSSION OR VOTE AND DID NOT VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE PRESIDENT, OTHER OFFICERS, AND KEY EMPLOYEES IS DETERMINED BY THE COMPENSATION AND PERFORMANCE COMMITTEE OF THE BOARD OF TRUSTEES IN ACCORDANCE WITH ITS EXECUTIVE COMPENSATION POLICY, REVIEWING BENCHMARK DATA, UTILIZING THE METHODOLOGY OF THE REBUTTABLE PRESUMPTION OF REASONABLENESS TEST ESTABLISHED BY THE IRS, USING COMPENSATION ADVISERS, AND REVIEWING THE INDIVIDUALS PERFORMANCE. THIS PROCESS WAS LAST CONDUCTED IN 2020. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN GIFT ANNUITIES 340,651. CHANGE IN PENSION LIABILITY 4,468,376. FORM 990, PART XII, LINE 2C: THE PROCESS FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF AN ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. BETHEL UNIVERSITY FOUNDATION 3900 BETHEL DRIVE ST PAUL MN 55112 237094836 FINANCIAL MANAGEMENT OF ENDOWMENTS AND TRUST ACCOUNTS FOR BETHEL UNIVERSITY MN 501(C)(3) LINE 7 BETHEL UNIVERSITY 1 ROYALS INVESTMENT FUND LLC 3900 BETHEL DR ARDEN HILLS MN 55112 822482592 INVESTMENT FUND MN BETHEL UNIVERSITY INVESTMENT INCOME 0 1 0 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 BETHEL UNIVERSITY FOUNDATION N 430496 FMV BETHEL UNIVERSITY FOUNDATION C 502100 FMV