2022-02-09T10:24:11-06:00 2021-04-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2020-05-01 237094836 BETHEL UNIVERSITY FOUNDATION BETH 6516351002 3900 BETHEL DRIVE ST PAUL MN 55112 ANGELLA J HJELLE EXECUTIVE DIRECTOR 6516351002 2022-02-03 1 ANGELLA HJELLE 999009999 SARAH HINTZ P00492291 3037795710 2022-02-03 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z ANGELLA J HJELLE 3900 BETHEL DRIVE ST PAUL MN 55112 2670348 0 X WWW.BETHEL.EDU/DEVELOPMENT/FOUNDATION X 1971 MN HELP DONORS PLAN CHARITABLE GIVING AND SUPPORT BETHEL BY RECEIVING AND MANAGING DONATED FUNDS. 17 16 0 16 0 0 792578 419043 0 0 272064 256738 0 3609 1064642 679390 361000 324157 0 0 366263 362386 0 0 0 93271 10326 820534 696869 244108 -17479 18632127 22807618 8900430 10318796 9731697 12488822 TO PROVIDE FINANCIAL MANAGEMENT OF ENDOWMENT AND TRUST ACCOUNTS BY BETHEL UNIVERSITY AND ITS CONSTITUENTS. 0 0 324157 324157 0 BETHEL UNIVERSITY FOUNDATION EXISTS FOR THE PURPOSE OF ENHANCING THE FINANCIAL STRENGTH OF BETHEL UNIVERSITY BY SUPPORTING ENDOWMENT GROWTH, FACILITATING MAJOR NONCASH GIFTS AND ENCOURAGING MAJOR GIFTS THROUGH ITS DEFERRED GIFT PROGRAM. IN ADDITION, THE FOUNDATION PROVIDES ACCOUNTING AND MANAGEMENT SERVICES TO BETHEL FOR BETHEL'S LONG-TERM INVESTMENTS. 324157 1 1 0 0 0 1 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 CJ 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 0 0 0 MN X MARTIN ANDERSON CONTROLLER 6516351002 2 PINE TREE DRIVE ARDEN HILLS MN 55112 JAMES BARNES EX-OFFICIO (LEFT 06/2020) 1.00 40.00 X 0 165483 42215 ROSS ALLEN EX-OFFICIO 1.00 40.00 X 0 230813 10583 LESLIE CHAPMAN CHAIR 1.00 5.00 X X 0 0 0 CHRIS SHAW VICE CHAIR 1.00 0.00 X X 0 0 0 LINDA GOODWIN SECRETARY 1.00 5.00 X X 0 0 0 JODY KOBBERVIG TREASURER 1.00 0.00 X X 0 0 0 BOB BRODIN GOVERNOR 1.00 0.00 X 0 0 0 MICHAEL BROCKER GOVERNOR 1.00 5.00 X 0 0 0 TIMOTHY DOTEN GOVERNOR 1.00 0.00 X 0 0 0 RACHELLE HOLM GOVERNOR 1.00 0.00 X 0 0 0 CEDRIC LONG GOVERNOR 1.00 0.00 X 0 0 0 GAIL LUNDEEN GOVERNOR 1.00 0.00 X 0 0 0 STEVEN LANDBERG GOVERNOR 1.00 0.00 X 0 0 0 ANDREA SCHILLING GOVERNOR 1.00 0.00 X 0 0 0 STEVE STROM GOVERNOR 1.00 0.00 X 0 0 0 PAUL TOMMERDAHL GOVERNOR 1.00 0.00 X 0 0 0 CHRIS WIENS GOVERNOR 1.00 0.00 X 0 0 0 BRENT WILDE GOVERNOR 1.00 0.00 X 0 0 0 ANGELLA HJELLE EXECUTIVE DIRECTOR 40.00 0.00 X 0 117855 14786 MARTIN ANDERSON CONTROLLER 40.00 0.00 X 0 81190 13875 JAMES BENDER VP FOR UNIVERSITY ADVANCEMENT 1.00 40.00 X 0 151596 25973 0 746937 107432 0 0 1 0 0 373032 46011 419043 86744 86744 2160952 1990958 169994 169994 169994 OTHER INCOME 900000 3609 3609 3609 679390 0 0 260347 324157 324157 251743 251743 76500 76500 1913 1913 15142 15142 17088 17088 315 315 20833 20833 -39188 -39188 2047 2047 1328 1328 22978 22978 1728 1728 101 101 MISCELLANEOUS EXPENSE 184 184 696869 324157 372712 0 292301 59675 4885002 6794963 189000 189000 13265824 15763980 18632127 22807618 8900430 10318796 8900430 10318796 X 5063589 6776345 4668108 5712477 9731697 12488822 18632127 22807618 X -17479 1750235 1024369 X X 0 1 X 1 0 X 641412 1065629 570573 792578 419043 3489235 641412 1065629 570573 792578 419043 3489235 599270 2889965 64832 112264 172857 175586 86744 612283 793 3609 4402 4105920 0.70390 0.69660 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2016 AMOUNT: $ 793. 2020 AMOUNT: $ 3,609. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 80000 288931 1691762 1 1 1 101182959 38616211 8122970 131676200 0 48774848 1992364 16393773 1262238 928280 129943 64840524 49766790 1107836 -70179 1129689 885356 14554 48774848 53010289 1139394 435660 2563350 2177289 77914 49766790 47421331 3197181 4085265 865279 673053 155156 53010289 41752461 1488584 5856573 1176295 331345 168647 47421331 0.13340 0.60610 0.26050 0 1 1 0 TRUST ASSETS- MUTUAL FUNDS 13736874 POOLED COMMON FUND ASSETS 2020956 ESTATE RECEIVABLE 6150 15763980 OBLIGATIONS UNDER TRUST AND PCF AGREEMENTS 10045353 PAYABLE TO BETHEL UNIVERSITY 273443 10318796 X 3493182 1750235 1024369 2774604 718578 -39188 -39188 679390 736057 0 736057 -39188 -39188 696869 PART IV, LINE 1B: THE FOUNDATION INVESTS ENDOWMENT AND PENSION FUNDS FOR BETHEL UNIVERSITY. PART V, LINE 4: ENDOWMENT FUNDS ARE HELD BY BETHEL UNIVERSITY TO PROVIDE SCHOLARSHIPS AS WELL AS TO SUPPORT PROGRAMS AND OPERATIONS. PART X, LINE 2: THE FOUNDATION QUALIFIES AS A TAX-EXEMPT NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR STATUTES OF MINNESOTA LAW. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES IS REQUIRED. AS SUCH, IT IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON NET UNRELATED BUSINESS INCOME. THE FOUNDATION HAS DETERMINED THAT IT IS NOT SUBJECT TO UNREALIZED BUSINESS INCOME TAXES. THE FOUNDATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE AND LOCAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 1,024,369. 1 BETHEL UNIVERSITY 3900 BETHEL DRIVE ST PAUL MN 55112 410708577 501C3 324157 FMV N/A PROGRAMMING 1 0 PART I, LINE 2: THE FOUNDATION SUPPORTS BETHEL UNIVERSITY AND GRANTS FUNDS TO THE UNIVERSITY TO SUPPORT ITS GENERAL OPERATIONS. NO FORMAL MONITORING IS REQUIRED. 0 0 0 0 0 0 0 0 0 ROSS ALLEN EX-OFFICIO 0 229833 0 0 0 980 0 7267 0 3316 0 241396 0 0 JAMES BARNES EX-OFFICIO (LEFT 06/2020) 0 157894 0 0 0 7589 0 8309 0 33906 0 207698 0 0 JAMES BENDER VP FOR UNIVERSITY ADVANCEMENT 0 150693 0 0 0 903 0 5625 0 20348 0 177569 0 0 PART I, LINE 3 BETHEL UNIVERSITY FOUNDATION DOES NOT COMPENSATE ANY INDIVIDUALS. THE ORGANIZATION RELIED ON BETHEL UNIVERSITY IN SETTING THE COMPENSATION FOR THOSE INDIVIDUALS. BETHEL UNIVERSITY USED MULTIPLE METHODS TO ESTABLISH THE TOP MANAGEMENT OFFICIALS' COMPENSATION, INCLUDING A COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE INCLUDES ONE MEMBER OF THE BOARD WHO IS NOT A STAFF MEMBER, TOGETHER WITH THE CHAIRMAN, VICE-CHAIRMAN, EXECUTIVE DIRECTOR AND THE CHAIRMAN OF THE INVESTMENT COMMITTEE. AT LEAST ONE MEMBER OF THE EXECUTIVE COMMITTEE SHOULD BE A MEMBER OF THE BOARD OF TRUSTEES OF BETHEL UNIVERSITY. THE EXECUTIVE COMMITTEE HAS POWER AND AUTHORITY BETWEEN BOARD MEETINGS AS ARE DELEGATED TO IT BY THE BOARD OF GOVERNORS. FORM 990, PART VI, SECTION A, LINE 7A ACCORDING TO THE FOUNDATION'S BYLAWS, BETHEL UNIVERSITY RETAINS THE RIGHT TO APPROVE OR REMOVE MEMBERS OF THE FOUNDATION'S BOARD OF GOVERNORS. FORM 990, PART VI, SECTION A, LINE 7B AMENDMENTS TO THE FOUNDATION'S GOVERNING DOCUMENTS REQUIRE APPROVAL BY THE BOARD OF TRUSTEES OF BETHEL UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS AND APPROVES THE PUBLIC INSPECTION COPY OF THE FORM 990 BEFORE IT IS GIVEN TO THE BOARD AND FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL DISCLOSURE FORM IS COMPLETED BY BOARD AND STAFF AS REQUIRED BY THE CONFLICT OF INTEREST POLICY. IF AN INDIVIDUAL BELIEVES SHE/HE HAS DETECTED A CONFLICT OF INTEREST SITUATION, THE ACTIVITY SHOULD BE DISCLOSED TO THE APPROPRIATE SUPERVISORY LEVEL ABOVE THE INDIVIDUAL INVOLVED IN THE POTENTIAL CONFLICT SITUATION. THE SUPERVISORY PERSONNEL SHOULD THEN DISCUSS THE SITUATION WITH THE INVOLVED INDIVIDUAL RECOMMENDING THE INDIVIDUAL COMPLETE THE CONFLICT OF INTEREST QUESTIONNAIRE TO ASSIST IN DETERMINING THE NATURE OF THE SITUATION. IT SHOULD THEN BE DISCUSSED WITH THE APPROPRIATE PERSONS. FORM 990, PART VI, SECTION B, LINE 15 BETHEL UNIVERSITY FOUNDATION DOES NOT COMPENSATE ANY INDIVIDUALS. THE ORGANIZATION RELIED ON BETHEL UNIVERSITY IN SETTING THE COMPENSATION FOR THOSE INDIVIDUALS. BETHEL UNIVERSITY USED MULTIPLE METHODS TO ESTIMATE THE TOP MANAGEMENT OFFICIALS' COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 5: THE ORGANIZATION IS REPORTING IN THE FORM 990 THREE EMPLOYEES WHO DEVOTE TIME TO THE FOUNDATION AFFAIRS. THESE INDIVIDUALS ARE COMPENSATED BY BETHEL UNIVERSITY AND W-2S ARE ISSUED BY THE UNIVERSITY. ALL PAYROLL TAX FILINGS ARE PREPARED BY THE UNIVERSTIY. FOR THE PURPOSE OF PART IX, THESE INDIVIDUALS ARE REPORTED AS COMPENSATION IN THE RETURN. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 1,024,369. PART XII, LINE 2C THIS PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART I: SUPPORT SERVICES FROM BETHEL UNIVERSITY BETHEL UNIVERSITY PROVIDED CERTAIN SUPPORT SERVICES TO THE FOUNDATION INCLUDING PROVIDING OFFICE SPACE AND ASSOCIATED EXPENSES AT NO COST. EMPLOYEES OF THE FOUNDATION ALSO PARTICIPATE IN BETHEL'S INSURANCE AND HEALTH BENEFIT PLANS. THESE OPERATING COSTS WERE PAID BY BETHEL AND HAVE BEEN REFLECTED IN SUPPORT AND REVENUE AND OPERATING EXPENSES. THE VALUE OF SUCH SERVICES TO THE FOUNDATION IS $373,032 FOR BETHEL'S FISCAL YEAR ENDED MAY 31, 2021. BETHEL UNIVERSITY 3900 BETHEL DRIVE ST PAUL MN 55112 410708577 EDUCATION MN 501(C)(3) LINE 2 N/A 0 BETHEL UNIVERSITY FOUNDATION POOLED COMMON FUND 3900 BETHEL DRIVE ST PAUL MN 55112 411815788 INVESTMENT MN 501(C)(3) PF N/A 0 CHARITABLE REMAINDER TRUSTS (36) INVESTMENT MN BETHEL UNIVERSITY FOUNDATION T 1 REVOCABLE TRUSTS (2) INVESTMENT MN N/A T 0 0 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0