2021-04-15T15:31:43-05:00 2020-05-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2019-06-01 410708577 BETHEL UNIVERSITY BETH 6516386208 3900 BETHEL DRIVE ST PAUL MN 551126999 AMY BLAZ CHIEF FINANCIAL OFFICER 6516386208 2021-04-14 1 DEIRDRE HODGSON P01484710 6123764500 2021-04-14 2019 2022-09-23 18:48:47Z JAMES H BARNES III 3900 BETHEL DRIVE ST PAUL MN 551126999 169433707 0 X WWW.BETHEL.EDU X 1996 MN TO EDUCATE AND ENERGIZE MEN AND WOMEN FOR EXCELLENCE IN LEADERSHIP, SCHOLARSHIP AND SERVICE. 35 34 3063 35 -344918 0 8266777 21225633 127658508 123466905 3835140 1676868 507430 389430 140267855 146758836 43169904 44489872 0 0 61366352 62229806 0 0 2001118 38426613 36506285 142962869 143225963 -2695014 3532873 197570130 206434060 100886894 120522852 96683236 85911208 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 79227033 44043003 106596446 EDUCATIONAL INSTRUCTION:COLLEGE OF ARTS & SCIENCES (LIBERAL ARTS, UNDERGRADUATE): 2,586 STUDENTS; GRADUATE SCHOOL AND COLLEGE OF ADULT & PROFESSIONAL STUDIES (ADULT DEGREE COMPLETION): 1,947 STUDENTS; BETHEL SEMINARY: 646 STUDENTS 19018586 0 436754 ACADEMIC SUPPORT SERVICES:SERVICES INCLUDING BUT NOT LIMITED TO: BETHEL UNIVERSITY LIBRARY, OFFICE OF UNIVERSITY REGISTRAR, INFORMATION TECHNOLOGY SERVICES, HEALTH SERVICES, COUNSELING CENTER, ATHLETICS, CHILD DEVELOPMENT CENTER. 11235872 0 14905744 AUXILIARY SERVICES:SERVICES INCLUDING BUT NOT LIMITED TO: STUDENT HOUSING (APPROXIMATELY 2/3 OF STUDENTS ARE IN BETHEL HOUSING), FOOD SERVICE, CAMPUS STORE. 446869 446869 0 OTHER PROGRAM SERVICES 446869 446869 0 109928360 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 5441 0 3063 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 0 0 X 35 34 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MN CA X AMY BLAZ 6516386208 3900 BETHEL DRIVE ST PAUL MN 551126999 BARNES III JAMES H PRESIDENT 40.00 1.00 X X 283637 0 83408 HARLESS DEB EC VP & PROVOST 40.00 0.00 X 152241 0 38727 BENDER JAMES CHIEF DEVELOPMENT OFFICER 40.00 1.00 X 149766 0 39302 BOEVE WALLACE DIRECTOR PHYS ASST STUDIES 40.00 0.00 X 133865 0 49283 FREDRICKSON JOEL ASSOC DEAN OF INSTITUTIONAL ASSESSMENT AND ACCREDI 40.00 0.00 X 135630 0 42314 BROZ CHARLES HVAC, PLUMBING & ELECTRICAL SUPERVISOR 40.00 0.00 X 138050 0 40050 BLAZ AMY CHIEF FINANCIAL OFFICER 40.00 0.00 X 123342 0 39832 ADDLEMAN JOHN SPECIAL ASSISTANT TO THE PRESIDENT 40.00 0.00 X 137360 0 18207 WHITE JULIE CHAIR 5.00 0.00 X X 0 0 0 BARR COLLIN E VICE CHAIR 5.00 0.00 X X 0 0 0 JOHNSON JOEL K SECRETARY 5.00 0.00 X X 0 0 0 DORN RANDY TREASURER 5.00 0.00 X X 0 0 0 DYE DANIEL ASSISTANT SECRETARY 5.00 0.00 X X 0 0 0 ANKERBERG WILLIAM TRUSTEE 5.00 0.00 X 0 0 0 BJORK ROBERT TRUSTEE 5.00 0.00 X 0 0 0 BROCKER MICHAEL TRUSTEE 5.00 1.00 X 0 0 0 CARLSON DANIEL H TRUSTEE 5.00 0.00 X 0 0 0 CHAPMAN LESLIE J TRUSTEE 5.00 1.00 X 0 0 0 CONRAD DEANNA TRUSTEE 5.00 0.00 X 0 0 0 EVANS THOMAS C TRUSTEE 5.00 0.00 X 0 0 0 FROMM DAN TRUSTEE 5.00 0.00 X 0 0 0 GOODWIN LINDA TRUSTEE 5.00 1.00 X 0 0 0 GREEN ERIC M TRUSTEE 5.00 0.00 X 0 0 0 GREEN JIM TRUSTEE 5.00 0.00 X 0 0 0 GUIMONT SHERI TRUSTEE 5.00 0.00 X 0 0 0 HAIRSTON RODERICK TRUSTEE 5.00 0.00 X 0 0 0 HORSAGER DAVID TRUSTEE 5.00 0.00 X 0 0 0 JOHNSON ALAN TRUSTEE 5.00 0.00 X 0 0 0 JOHNSON WAYNE TRUSTEE 5.00 0.00 X 0 0 0 KAUPS KRISTA L TRUSTEE 5.00 0.00 X 0 0 0 KOPISCHKE TROY TRUSTEE 5.00 0.00 X 0 0 0 KREPS RONN TRUSTEE 5.00 0.00 X 0 0 0 MARCUS DAWN TRUSTEE 5.00 0.00 X 0 0 0 MCKNIGHT LAURA TRUSTEE 5.00 1.00 X 0 0 0 MEIDT CHRIS TRUSTEE 5.00 0.00 X 0 0 0 MITTON PAUL TRUSTEE 5.00 0.00 X 0 0 0 MYERS VIKKI J TRUSTEE 5.00 0.00 X 0 0 0 NICHOLSON BARBARA TRUSTEE 5.00 0.00 X 0 0 0 OLSON PAMELA TRUSTEE 5.00 0.00 X 0 0 0 PROVOST BRIAN E TRUSTEE 5.00 0.00 X 0 0 0 RIDOUT SCOTT TRUSTEE 5.00 0.00 X 0 0 0 SMITH HAROLD B TRUSTEE 5.00 0.00 X 0 0 0 1253891 0 351123 14 0 1 0 MCGOUGH CONSTRUCTION CO LLC 27237 FAIRVIEW AVE N ST PAUL MN 551131307 CONSTRUCTION/ REMODELING 10682991 SODEXO INC PO BOX 536922 ATLANTA GA 303536922 FOOD SERVICE MGMT 4980449 BJ BAAS 380 GARFIELD ST S CAMBRIDGE MN 550081773 CONSTRUCTION/ REMODELING 4426777 HAWORTH MARKETING AND MEDIA 2304 MOMENTUM PL CHICAGO IL 606895325 MARKETING AND MEDIA SERVICES 2154420 LOFFLER COMPANIES INC 1101 E 78TH ST STE 200 BLOOMINGTON MN 55420 PRINT AND OFFICE SERVICES 669212 36 68450 458963 2735670 17962550 3169559 21225633 TUITION & FEES 611600 106596446 106596446 AUXILIARY SERVICES 611710 13590132 13590132 OTHER STUDENT FEES 611710 2843573 2843573 ACADEMIC SUPPORT SERVI 611710 436754 436754 123466905 1327839 -361478 1689317 16560 0 16560 16560 16560 22070118 21721089 349029 349029 349029 27600 68450 35122 -7522 -7522 1299052 918660 380392 380392 146758836 123847297 -344918 2030824 446869 446869 44043003 44043003 1683502 645459 771635 266408 45826945 33320312 11501854 1004779 2991158 2167912 754915 68331 8488449 6173350 2129574 185525 3239752 2323515 832481 83756 249528 16007 227500 6021 70022 70022 120431 120431 3194247 1325925 1773585 94737 3374440 290896 3001366 82178 3393954 1916017 1401019 76918 1946196 146253 1799943 2334627 511188 1823439 3193083 2779586 325123 88374 2186495 1586163 600332 5504121 5124337 379784 810963 810963 OTHER EXPENSES 5656327 3145837 2466399 44091 FOOD SERVICE 3921227 3921227 IMPROVEMENTS 550624 44504 506120 143225963 109928360 31296485 2001118 24314535 17903014 4002330 6598056 2567078 3318792 838257 855574 936754 392420 230364767 109310590 108098756 121054177 46509064 45827463 6685934 6762994 3617422 3721570 197570130 206434060 9012199 6760806 881201 336343 1204586 5218978 48156416 48027769 5959666 41632492 54219290 100886894 120522852 X 36669892 17461934 60013344 68449274 96683236 85911208 197570130 206434060 X 3532873 -1477888 -12827013 X X 0 1 X 1 1 1 X 15501590 12240721 11807165 8266777 21198033 69014286 15501590 12240721 11807165 8266777 21198033 69014286 8744064 60270222 655502 975924 435756 1229382 1327839 4624403 1275204 287255 104551 27890 27600 1722500 75361189 640682085 0.79980 0.87200 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2015 AMOUNT: $ 1,275,204. 2016 AMOUNT: $ 287,255. 2017 AMOUNT: $ 104,551. SPECIAL EVENTS - 2018 AMOUNT: $ 27,890. 2019 AMOUNT: $ 27,600. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 0 1 154139 154139 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 $154,139 DURING THE FISCAL YEAR. BASED ON FIGURES PROVIDED BY MPCC, 100% OF BETHEL'S DUES WENT TOWARD LOBBYING. X X 0 49766786 1107836 -84733 2015045 48774844 50171091 1139394 357746 1028146 873299 49766786 47421327 3197181 1090915 987796 397775 152761 50171091 41752459 1488582 5856573 1176295 331345 168647 47421327 40103477 5051860 -2040072 1079371 111737 171698 41752459 0.13740 0.76530 0.09730 0 1 1 2542758 2542758 170362280 70305558 100056722 9804412 7743319 2061093 36488145 31261713 5226432 11167172 11167172 121054177 GIFT ANNUITY CONTRACTS 1819368 PENSION LIABILITY 51514013 LIABILITY FOR SELF-INSURANCE 442719 OTHER LIABILITIES 443190 54219290 X 89552937 -1477888 953782 -524106 90077043 56681793 56681793 146758836 100136742 953782 953782 99182960 44043003 44043003 143225963 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 35,122. COST OF GOODS SOLD 918,660. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONALLY FUNDED AID 44,043,003. NON-OPERATING CONTRIBUTIONS, GIFTS & BEQUESTS 15,008,843. NON-OPERATING INVESTMENT INCOME -2,095,277. NON-OPERATING OTHER SOURCES -274,776. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 35,122. COST OF GOODS SOLD 918,660. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONALLY FUNDED AID 44,043,003. 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. CENTRAL AMERICA & CARIBBEAN 0 0 PROGRAM SERVICES STUDY ABROAD 188076 EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD 1277676 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 107634 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 400 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS N/A 8343458 EUROPE 0 0 INVESTMENTS N/A 2253270 0 0 0 0 0 0 12170514 0 12170514 1 0 1 1 0 0 PART I, LINE 3: ACCRUAL METHOD PART III ACCOUNTING METHOD: BETHEL GOLF CLASSIC 96050 68450 27600 6760 15000 12530 832 96050 68450 27600 6760 15000 12530 832 35122 -7522 1 BETHEL UNIVERSITY FOUNDATION 3900 BETHEL DRIVE ST PAUL MN 55112 237094836 501(C)(3) 446869 0 N/A N/A GENERAL SUPPORT 1 0 SCHOLARSHIPS & FINANCIAL AID 2304 44043003 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. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 BARNES III JAMES H PRESIDENT 268459 0 0 0 15178 0 13826 0 69582 0 367045 0 0 0 HARLESS DEB EC VP & PROVOST 151622 0 0 0 619 0 8491 0 30236 0 190968 0 0 0 BENDER JAMES CHIEF DEVELOPMENT OFFICER 148869 0 0 0 897 0 7438 0 31864 0 189068 0 0 0 BOEVE WALLACE DIRECTOR PHYS ASST STUDIES 133717 0 0 0 148 0 7137 0 42146 0 183148 0 0 0 FREDRICKSON JOEL ASSOC DEAN OF INSTITUTIONAL ASSESSME 135146 0 0 0 484 0 7112 0 35202 0 177944 0 0 0 BROZ CHARLES HVAC, PLUMBING & ELECTRICAL SUPERVIS 137604 0 0 0 446 0 7410 0 32640 0 178100 0 0 0 BLAZ AMY CHIEF FINANCIAL OFFICER 123031 0 0 0 311 0 6750 0 33082 0 163174 0 0 0 ADDLEMAN JOHN SPECIAL ASSISTANT TO THE PRESIDENT 135831 0 0 0 1529 0 7015 0 11192 0 155567 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE: JAMES H. BARNES III - NOT INCLUDED IN TAXABLE COMPENSATION SOCIAL CLUB DUES: JAMES H. BARNES III - NOT INCLUDED IN TAXABLE COMPENSATION 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 1 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 0 0 0 0 0 A 0 X 33 2843602 STOCK MARKET QUOTES X 1 20901 FAIR MARKET VALUE X LIFE INSURANCE 2 297127 FAIR MARKET VALUE X DOOR PRIZES 18 7929 FAIR MARKET VALUE 0 0 1 1 PART I, COLUMN (B): COLUMN (B) IS THE NUMBER OF CONTRIBUTORS. PART I, LINE 32B: BROKERAGE FIRMS FOR SECURITIES; COMMODITY BROKER FORM 990, PART VI, SECTION A, LINE 1 THE UNIVERSITY'S EXECUTIVE COMMITTEE IS COMPRISED OF THE BOARD CHAIR, VICE CHAIR, SECRETARY, TREASURER, ASSISTANT SECRETARY AND OTHER TRUSTEES AS SELECTED BY THE BOARD. 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 11B UPON COMPLETION, THE FORM 990 IS DISTRIBUTED TO THE BOARD OF TRUSTEES FOR REVIEW AND ACCEPTANCE 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 FOR J. BARNES, PRESIDENT; J. ADDLEMAN, SPECIAL ASSISTANT TO THE PRESIDENT; J. BENDER, CHIEF ADVANCEMENT OFFICER; A. BLAZ, CHIEF FINANCIAL OFFICER; D. HARLESS, EX VP & PROVOST; M. POSNER, CHIEF FACILITIES AND TECHNOLOGY OFFICER; R. RIVERA, CHIEF DIVERSITY OFFICE; M. VEDDERS, CHIEF ENROLLMENT & MARKETING OFFICER; AND C. WALD CHIEF HUMAN RESOURCES AND STRATEGY OFFICER. 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 -32,728. CHANGE IN PENSION LIABILITY -12,794,285. 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 EXPERIENTIAL LEARNING - INVESTING MN BETHEL UNIVERSITY RELATED 1 1 0 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 BETHEL UNIVERSITY FOUNDATION B 446869 FMV BETHEL UNIVERSITY FOUNDATION C 458963 FMV