2019-11-15T10:10:58-06:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2018-01-01 911982139 ECUMEN ECUM 6217664300 3530 LEXINGTON AVENUE NORTH SHOREVIEW MN 55126 SHELLEY KENDRICK PRESIDENT & CEO 6217664300 2019-11-11 1 CHRISTOPHER STEINHOFF P01587351 6123764500 2019-11-11 67.137.57.251 2019-11-11 15:50:29 CS P FCD06153B7C3F4186BBEFC76B30654521E54D624 06C6282D018575128FE0891D0F3A4E057D2D2323 2018 2020-03-31 21:24:44Z SHELLEY KENDRICK 3530 LEXINGTON AVENUE NORTH SHOREVIEW MN 55126 167963174 1 0 9386 X WWW.ECUMEN.ORG X 1923 MN WE CREATE HOMES FOR OLDER ADULTS, WHEREVER THEY CHOOSE TO LIVE. 13 13 3477 1500 42663 72877 2231219 1142750 153640281 138346238 9792412 2180034 253292 631104 165917204 142300126 279133 168139 0 0 89647666 80755306 0 0 725076 70400749 63272434 160327548 144195879 5589656 -1895753 314535199 303862955 264919966 260249170 49615233 43613785 WE CREATE HOMES FOR OLDER ADULTS, WHEREVER THEY CHOOSE TO LIVE. 0 0 113009797 168139 138346238 ECUMEN IS A MINNESOTA NONPROFIT CORPORATION ORGANIZED PRIMARILY TO OWN, OPERATE, MANAGE AND SUPPORT SENIOR LIVING AND HEALTH CARE COMMUNITIES. HOUSING AND SERVICES FOR SENIORS ARE PROVIDED AT ECUMEN COMMUNITIES THROUGH A CONTINUUM OF CARE, INCLUDING VARIOUS LEVELS OF RESIDENTIAL LIVING AND SKILLED NURSING AS WELL AS OTHER COMMUNITY-BASED PROGRAMS AND SERVICES, INCLUDING HOME HEALTH CARE AND OUTPATIENT THERAPIES. AS OF DECEMBER 31, 2018, ECUMEN AND ITS AFFILIATES OWNED OR LEASED 41 HEALTH CARE AND OTHER FACILITIES, INCLUDING 11 U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SUBSIDIZED HOUSING PROJECTS. AN ADDITIONAL 17 HEALTH CARE AND OTHER FACILITIES WERE MANAGED FOR UNRELATED THIRD-PARTY OWNERS. 113009797 1 1 0 1 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 362 0 3477 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 MN X SHELLEY KENDRICK 6517664300 3530 LEXINGTON AVENUE NORTH SHOREVIEW MN 55126 DARRELL TUKUA CHAIR 1.00 0.00 X X 0 0 0 DEBBIE CERVENKA VICE CHAIR 1.00 0.00 X X 0 0 0 GAIL OLSON SECRETARY 1.00 0.00 X X 0 0 0 ANN BARKELEW TREASURER 1.00 0.00 X X 0 0 0 SUSIE CROCKETT TRUSTEE 1.00 0.00 X 0 0 0 J MICHAEL DADY TRUSTEE 1.00 0.00 X 0 0 0 DAVID DURENBERGER TRUSTEE 1.00 0.00 X 0 0 0 ROBERT HOFFMAN TRUSTEE 1.00 0.00 X 0 0 0 LISA KRO TRUSTEE 1.00 0.00 X 0 0 0 RICHARD OLSON TRUSTEE 1.00 0.00 X 0 0 0 JOHN PETRABORG TRUSTEE 1.00 0.00 X 0 0 0 JIM SCHOWALTER TRUSTEE 1.00 0.00 X 0 0 0 NANCY THOMPSON ULVESTAD TRUSTEE 1.00 0.00 X 0 0 0 KATHRYN ROBERTS PRESIDENT & CEO 39.00 1.00 X 519780 0 259550 SHELLEY KENDRICK CHIEF OPERATING OFFICER 39.00 1.00 X 290381 0 140749 SCOTT MCGUIRE CFO & SR VP OF FINANCE 39.00 1.00 X 284252 0 137295 ROBIN BALCK SR VP HR & STRATEGIC ALIGNMENT 40.00 0.00 X 66491 0 4176 ANASTASIA HANLEY SR VP OF PHILANTHROPY 40.00 0.00 X 165236 0 88596 JULIE MURRAY SR VP OF MARKETING & DEVELOPMENT 40.00 0.00 X 228616 0 96557 WILLIAM MCGARRY SR. VP OF INFORMATION TECHNOLOGY 40.00 0.00 X 224455 0 96773 AMY KORZENOWSKI SR REGIONAL DIRECTOR OF OPERATIONS 40.00 0.00 X 245182 0 58854 PAUL LIBBON SR REGIONAL DIRECTOR OF OPERATIONS 40.00 0.00 X 158371 0 44116 CYNTHIA MOWAN VP OF FINANCE 39.00 1.00 X 158373 0 55013 CAROLYN PERRON VP OF ORGANIZATIONAL DEVELOPMENT 40.00 0.00 X 153147 0 40854 JENNIFER PFEFFER SR REGIONAL DIRECTOR OF OPERATIONS 40.00 0.00 X 155761 0 63145 2650045 0 1085678 32 0 1 0 LIFESTYLE COMMUNITIES LLC 6597 HARBOR BEACH NE PRIOR LAKE MN 55372 DEVELOPMENT 559280 GRAY PLANT MOOTY 80 S 8TH ST STE 500 MINNEAPOLIS MN 55402 LEGAL 525391 CLIFTONLARSONALLEN LLP 220 S 6TH ST STE 300 MINNEAPOLIS MN 55402 AUDIT & TAX 435200 OUTCOME RESOURCE LLC 2210 PLAZA DRIVE SUITE 300 ROCKLIN CA 95765 CONSULT 239292 LINCOLN WASTE 2075 SILAS DEAN HWY STE 101 ROCKY HILL CT 06067 WASTE MANAGEMENT 234651 15 8000 146575 38819 949356 2029 1142750 ASSISTED LIVING FEES 623000 75963299 75963299 NURSING REVENUE 623000 57525402 57525402 MANAGEMENT FEES 541610 3457112 3457112 OTHER OPERATING FEES 623000 694366 694366 MEAL FEES 722210 576108 576108 129951 129951 138346238 1326240 1326240 266784 0 266784 266784 266784 2284417 24208060 1277382 24361301 1007035 -153241 853794 853794 7083 146575 16114 -9031 -9031 50061 8251 41810 41810 CAFE/CATERING REVENUES 722320 482854 482854 TENANT FEES 623000 328764 328764 MISCELLANEOUS 900099 59916 42663 17253 -539993 -539993 331541 142300126 138346238 42663 2768475 168139 168139 2877143 572745 2050567 253831 61880364 47001195 14708037 171132 2112710 1364393 727020 21297 8914039 6755102 2130947 27990 4971050 3849615 1091296 30139 1531209 1531209 191329 22188 164353 4788 204692 2862 201830 11720215 10225039 1350505 144671 787590 14887 772703 987673 752592 226671 8410 1176988 586066 570412 20510 9211870 7969982 1241888 1036060 587465 438354 10241 415164 100828 288719 25617 10125095 10024586 100509 11484121 10978494 505627 918827 27183 891644 RESIDENT CARE SUPPLIES 8344096 8344096 PROGRAM EXPENSE 1303273 1297858 5415 SURCHARGE 958793 958793 EQUIP. RENTAL & MAINT. 871833 414190 455192 2451 2003606 991499 1008108 3999 144195879 113009797 30461006 725076 23389152 21457363 486753 4541128 14937885 14341876 1163761 1050361 658304 597561 323624621 119737406 207576052 203887215 32620220 34550486 2724422 2422511 5380018 4951217 25598632 16063237 314535199 303862955 12701257 14388613 -187727 -132796 86259461 74799737 1717076 2156670 156161107 158803885 8268792 10233061 264919966 260249170 X 43147508 38511244 2706764 1974592 3760961 3127949 49615233 43613785 314535199 303862955 X -1895753 -4247963 142268 X 0 1 X 1 0 X 3935527 3605371 3075114 2231219 1142750 13989981 138286180 143553103 153698817 153640281 138346238 727524619 142221707 147158474 156773931 155871500 139488988 741514600 131190 111011 11850 205837 459888 0 131190 111011 11850 205837 459888 741054712 715674 845436 906752 961295 1593024 5022181 715674 845436 906752 961295 1593024 5022181 1290627 1522610 636870 107301 346022 3903430 144228008 149526520 158317553 156940096 141428034 750440211 0.98750 0.98790 0.00670 0.00550 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: SPECIAL EVENT REVENUES FACILITY USE FEES MISCELLANEOUS INCOME CAFE/CATERING REVENUES SALES OF INVENTORY TENANT FEES LAUNDRY REVENUE MAINTENANCE/REPAIRS INCOME HOUSEKEEPING BEAUTY SHOP DEBT REFINANCING LOSS RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 0 0 PART II-B, LINE 1, LOBBYING ACTIVITIES ECUMEN PAID $161,797 FOR MEMBERSHIP DUES TO AGING SERVICERS OF MINNESOTA AND LEADING AGE. THESE AGENCIES ARE INVOLVED IN AGING SERVICES ISSUES RELATED TO LONG TERM CARE, SENIOR HOUSING, AND SUPPORTIVE SERVICES THROUGH GRASSROOTS ADVOCACY AND EDUCATION. THESE ASSOCIATIONS DO CONDUCT LOBBYING ACTIVITIES ON BEHALF OF THEIR MEMBERS. THE DUES AMOUNT SHOWN IS THE TOTAL DUES PAID TO THE ASSOCIATIONS, BUT THE PERCENTAGE OF THE DUES ATTRIBUTABLE TO LOBBYING ACTIVITIES HAS NOT BEEN PROVIDED TO ECUMEN. 0 1 X 6467725 730328 -385024 1710490 5102539 5691560 1355320 273960 853115 6467725 5568271 1857857 27715 1762283 5691560 5517731 1333259 -305205 977515 5568271 7463660 1578164 -52676 3471417 5517731 0.00000 0.61000 0.39000 1 0 15766592 15766592 279167247 99297581 179869666 27452040 20439825 7012215 1238742 1238742 203887215 TENANT SECURITY DEPOSITS 2168038 BOND & MORTGAGE INDENTURE AGREEMENTS 12027406 WORKERS COMPENSATION RESERVE 1500000 OTHER 315399 LETTER OF CREDIT COLLATERAL 52394 16063237 ASSET RETIREMENT OBLIGATIONS 8508588 INSURANCE CLAIMS RESERVES 1724473 10233061 X PART IV, LINE 2B: ECUMEN HOLDS IN TRUST DEPOSIT AMOUNTS RECEIVED BY TENANTS OF THE PROJECT UPON MOVE-IN. THERE ARE SEVERAL DIFFERENT TYPES OF THESE DEPOSITS INCLUDING SECURITY DEPOSIT, RESIDENT TRUST, AND UNIT SHARE. THE TENANT DEPOSITS ARE MAINTAINED IN AN INTEREST-BEARING ACCOUNT SEPARATE FROM ECUMEN'S OPERATING ACCOUNT. WITHDRAWALS ARE RESTRICTED TO THE REIMBURSEMENTS OF DEPOSIT AMOUNT. PART V, LINE 4: PERMANENT ENDOWMENT FUNDS ARE TO BE HELD IN PERPETUITY AND INCOME IS USED TO SUPPORT THE FACILITIES AND PROGRAMS OF ECUMEN. TERM ENDOWMENTS ARE HELD UNTIL THE SPECIFIC TIME OR EVENT HAS OCCURRED. PART X, LINE 2: THE ORGANIZATION HAS BEEN GRANTED EXEMPT STATUS RELATIVE TO FEDERAL AND MINNESOTA CORPORATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE FEDERAL INTERNAL REVENUE CODE AND APPLICABLE STATE CODES. INCOME OR LOSS FROM ACTIVITIES CONSIDERED UNRELATED TO ECUMEN'S TAX EXEMPT PURPOSE IS RECORDED IN THE ACCOUNTS OF ECUMEN SERVICES, INC. INCOME TAXES FOR ECUMEN SERVICES, INC. ARE RECORDED AT THE PREVAILING STATUTORY RATES AND ARE INCLUDED IN OPERATING EXPENSE. THERE WERE NO INCOME TAXES PAYABLE AT DECEMBER 31, 2018 OR DECEMBER 31, 2017. THE ORGANIZATION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. DL CHARITY BENEFIT 131394 128550 2844 2029 2838 750 5122 LITCHFIELD HOSPICE DINNER 22264 18025 4239 4239 220 916 0 153658 146575 7083 2029 7077 970 6038 16114 -9031 1 EDUCATION GRANTS 64 99996 EMPLOYEE ASSISTANCE 48 68143 PART I, LINE 2: FOR GRANTS, THE ORGANIZATION TAKES INTO CONSIDERATION THE GRANTEE'S GOALS AND OBJECTIVES WHEN DETERMINING A POTENTIAL CONTRIBUTION. WE FOCUS ON GRANTEES THAT ARE INVOLVED IN THE LONG-TERM CARE INDUSTRY AND LIMIT CONTRIBUTIONS TO ENTITIES THAT ARE DEEMED CHARITABLE ORGANIZATIONS. GRANTS TO RELATED ORGANIZATIONS ARE MONITORED THROUGH COMMON CONTROL AND MANAGEMENT. GRANTS TO NON-RELATED ORGANIZATIONS ARE NOT DIRECTLY MONITORED SUBSEQUENT TO FUNDS BEING GRANTED. SCHOLARSHIP RECIPIENTS ARE REQUIRED TO PROVIDE TUITION STATEMENTS PRIOR TO RECEIVING SCHOLARSHIP FUNDS. EMPLOYEE ASSISTANCE RECIPIENTS ARE REQUIRED TO PROVIDE BILLS AND OTHER EXPENSE STATEMENTS PRIOR TO RECEIVING ASSISTANCE FUNDS. X X X X 0 1 1 1 1 1 1 0 0 KATHRYN ROBERTS PRESIDENT & CEO 512922 0 0 0 6858 0 233311 0 26239 0 779330 0 0 0 SHELLEY KENDRICK CHIEF OPERATING OFFICER 288311 0 0 0 2070 0 106727 0 34022 0 431130 0 0 0 SCOTT MCGUIRE CFO & SR VP OF FINANCE 283549 0 0 0 703 0 105094 0 32201 0 421547 0 0 0 ANASTASIA HANLEY SR VP OF PHILANTHROPY 164109 0 0 0 1127 0 66132 0 22464 0 253832 0 0 0 JULIE MURRAY SR VP OF MARKETING & DEVELOPMENT 227810 0 0 0 806 0 86712 0 9845 0 325173 0 0 0 WILLIAM MCGARRY SR. VP OF INFORMATION TECHNOLOGY 222179 0 0 0 2276 0 72751 0 24022 0 321228 0 0 0 AMY KORZENOWSKI SR REGIONAL DIRECTOR OF OPERATIONS 244193 0 0 0 989 0 57329 0 1525 0 304036 0 0 0 PAUL LIBBON SR REGIONAL DIRECTOR OF OPERATIONS 157950 0 0 0 421 0 40757 0 3359 0 202487 0 0 0 CYNTHIA MOWAN VP OF FINANCE 157384 0 0 0 989 0 42595 0 12418 0 213386 0 0 0 CAROLYN PERRON VP OF ORGANIZATIONAL DEVELOPMENT 148880 0 0 0 4267 0 39120 0 1734 0 194001 0 0 0 JENNIFER PFEFFER SR REGIONAL DIRECTOR OF OPERATIONS 154809 0 0 0 952 0 40208 0 22937 0 218906 0 0 0 PART I, LINES 4B-C SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: KATHRYN ROBERTS - 457(F) - $18,000 EQUITY-BASED COMPENSATION ARRANGEMENT: SEE THE NARRATIVE IN SCHEDULE J, PART III, RELATED TO PART I, LINE 5. THE BONUSES OPERATE SIMILARLY TO AN EQUITY-BASED COMPENSATION PLAN. PART I, LINE 5 PURPOSE: THE PURPOSE OF THE PLAN IS TO REWARD INDIVIDUAL AND TEAM ACCOMPLISHMENTS OF MANAGEMENT AND PROFESSIONAL STAFF THAT MAKE SIGNIFICANT CONTRIBUTIONS TO THE ACHIEVEMENT OF BUDGETED FINANCIAL AND STRATEGIC GOALS AS ESTABLISHED BY ECUMEN. ELIGIBILITY: ELIGIBILITY FOR THE PLAN IS LIMITED TO REGULAR MANAGEMENT EMPLOYEES WHO RETAIN THE JOB TITLE OF MANAGER, DIRECTOR, SENIOR DIRECTOR, VICE PRESIDENT, SENIOR VICE PRESIDENT OR CHIEF EXECUTIVE LEVEL OF THE HOME OFFICE, AND TO MANAGEMENT STAFF LOCATED OUTSIDE THE HOME OFFICE WITH JOB TITLES OF ADMINISTRATOR, HOUSING MANAGER, AND DEPARTMENT HEAD. OTHER KEY EMPLOYEES MAY BE INCLUDED IN THE PLAN AS APPROVED BY THE CHIEF EXECUTIVE OFFICER. PLAN GOALS: VARIABLE PAY PLAN PAYMENTS ARE EARNED BASED ON ACHIEVING AN ACTUAL EBITDA (EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION & AMORTIZATION) FOR THE YEAR THAT FALLS WITHIN A RANGE OF 93% - 115% OF BUDGETED OPERATING EBITDA. HOME OFFICE PARTICIPANTS WILL HAVE ONLY ONE GOAL AROUND ECUMEN'S BUDGETED OPERATING EBITDA. LOCATION PARTICIPANTS WILL HAVE TWO GOALS, WITH 80% BASED ON LOCAL BUDGETED OPERATING EBITDA ACHIEVEMENT AND 20% ON CONSOLIDATED ACHIEVEMENT. BOTH THE LOCATION AND THE CONSOLIDATED THRESHOLDS MUST BE MET IN ORDER FOR A LOCATION TO RECEIVE A PAYOUT UNDER THIS PLAN. REGIONAL DIRECTORS HAVE THE SAME TWO GOALS WITH THE LOCAL GOAL BASED ON CAMPUS OPERATIONS. ECUMEN RESERVES THE RIGHT TO CHANGE THE EBITDA TO REFLECT CHANGES IN THE CURRENT BUSINESS PORTFOLIO. CHANGES ARE COMMUNICATED TO PARTICIPANTS. PART I, LINE 6 SEE THE NARRATIVE IN SCHEDULE J, PART III, RELATED TO PART I, LINE 5. THE BONUSES ARE BASED ON EBITDA (EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTIZATION), WHICH IS CLOSELY RELATED TO BOTH REVENUES AND NET EARNINGS. A CITY OF OWATONNA MN 416005444 690562AA1 2003-06-30 4120000 REFINANCING SERIES 2000 BONDS 0 0 0 B CITY OF PINE CITY MN 416005456 722518AA5 2006-04-27 8100000 PURCHASE OF FACILITIES 0 0 0 C CITY OF LAKE CRYSTAL MN 416005294 509530BG5 2010-08-10 6865000 NEW CONSTRUCTION 0 0 0 D CITY OF MOORHEAD MN 416005386 61615CAB8 2012-09-27 10076874 REFINANCING SERIES 2005A AND 2008A BONDS 0 0 0 A 2065000 4120000 3841720 278280 2003 1 0 1 1 B 1700000 8100000 302750 7797250 2006 0 0 1 1 C 725000 6865000 508849 419720 334050 550000 5052381 2010 0 0 1 1 D 3195000 10076874 9830951 245923 2012 1 0 1 1 A 1 0 0 0 0 0 1 B 1 0 0 0 0 0 1 C 1 0 0 0 0 0 1 D 1 0 0 0 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CITY OF OWATONNA, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 04/01/2008 ISSUER NAME: CITY OF PINE CITY, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 04/14/2016 ISSUER NAME: CITY OF LAKE CRYSTAL, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 07/31/2015 ISSUER NAME: CITY OF MOORHEAD, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 08/31/2017 ISSUER NAME: MOORHEAD ECONOMIC DEVELOPMENT AUTHORITY, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 08/31/2017 ISSUER NAME: HOUSING AND REDEVELOPMENT AUTHORITY OF DULUTH, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 08/31/2017 ISSUER NAME: LAKE COUNTY HOUSING AND REDEVELOPMENT AUTHORITY, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 08/31/2017 ISSUER NAME: TOWN OF RICE LAKE, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 08/31/2017 ISSUER NAME: CITY OF FALCON HEIGHTS, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 01/06/2018 ISSUER NAME: CITY OF CHISAGO CITY, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 08/23/2017 ISSUER NAME: CITY OF ST. CLAIR, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 08/24/2018 ISSUER NAME: CITY OF DETROIT LAKES, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 08/23/2018 A MOORHEAD ECONOMIC DEVELOPMENT AUTHORITY MN 411671510 61615JAR8 2012-09-27 10000000 REFINANCING SERIES 2005A AND 2008A BONDS 0 0 0 B HOUSING AND REDEVELOPMENT AUTHORITY OF DULUTH MN 416006975 2012-09-28 8300000 REFINANCING SERIES 2004A, 2004B, 2004C, AND 2005 BONDS 0 0 0 C LAKE COUNTY HOUSING AND REDEVELOPMENT AUTHORITY MN 411563472 2012-09-28 9140000 REFINANCING SERIES 2004A, 2004B, 2004C, AND 2005 BONDS 0 0 0 D TOWN OF RICE LAKE MN 416005489 2012-09-28 5560000 REFINANCING SERIES 2004A, 2004B, 2004C, AND 2005 BONDS 0 0 0 A 10000000 9757473 242527 2012 1 0 1 1 B 1499319 8300000 7984423 154104 161473 2012 1 0 1 1 C 1651180 9140000 8792485 169700 177815 2012 1 0 1 1 D 1004438 5560000 5348602 103231 108167 2012 1 0 1 1 A 1 0 0 0 0 0 1 B 1 0 0 0 0 0 1 C 1 0 0 0 0 0 1 D 1 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 A CITY OF FALCON HEIGHTS MN 416007644 2013-01-04 4400000 REFINANCING SERIES 2005A BONDS 0 0 0 B CITY OF CHISAGO CITY MN 416005046 17012CAR4 2013-07-25 18520000 REFINANCING SERIES 2004A AND 2004B BONDS 0 0 0 C CITY OF ST CLAIR MN 416007794 363651LZ1 2013-07-30 9125000 REFINANCING SERIES 2004D, 2004E, AND 2006 BONDS 0 0 0 D CITY OF DETROIT LAKES MN 416005098 2013-08-01 2670748 REFINANCING SERIES 2004A BONDS 0 0 0 A 748555 4400000 4330395 69605 2013 1 0 1 1 B 1580000 18520000 18046679 473321 2013 1 0 1 1 C 1787842 9125000 9013939 111061 2013 1 0 1 1 D 423719 2670748 2635370 35379 2013 1 0 1 1 A 1 0 0 0 0 0 1 B 1 0 0 0 0 1 0.12100 0 1 C 1 0 0 0 0.01000 0.01000 0.02000 0 0 1 D 1 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 A CITY OF WORTHINGTON MN 416005656 98185QAX1 2014-05-21 6385000 REFINANCING SERIES 2009A BONDS 0 0 0 B CITY OF NORTH BRANCH MN 416005421 2014-11-25 4075000 REFINANCING SERIES 2006B BONDS 0 0 0 C CITY OF LAKE CRYSTAL MN 416005294 509530BT7 2014-12-18 8316913 REFINANCING SERIES 2006 BONDS 0 0 0 D CITY OF OWATONNA MN 416005444 690558AL5 2014-12-18 6797665 REFINANCING SERIES 2006 BONDS 0 0 0 A 745000 6385000 6198840 186160 2014 1 0 1 1 B 732307 4075000 3959541 115460 2014 1 0 1 1 C 2145000 8316913 8067611 249302 2014 1 0 1 1 D 525000 6797665 6593903 203762 2014 0 1 1 1 A 1 0 0 0 0 0 1 B 1 0 0 0 0 0 1 C 1 0 0 0 0 0 1 D 1 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 A CITY OF MINNEAPOLIS MN 416005375 603786AN2 2015-05-18 32052494 NEW CONSTRUCTION 0 0 0 B CITY OF WORTHINGTON MN 416005656 2016-03-15 5900000 REFINANCE SERIES 2007A BONDS 0 0 0 C CITY OF VERGAS MN 410900504 923413AN8 2016-08-29 10105987 REFINANCE SERIES 2006 AND 2007 BONDS 0 0 0 D CITY OF MAPLEWOOD MN 416008920 565584AL3 2017-12-21 10390000 REFINANCE SERIES 2010 APPLE VALLEY AND MAPLEWOOD BONDS 0 0 0 A 32052494 1938070 640000 29205866 268558 2016 0 0 1 1 B 612166 5900000 5795819 104181 2016 1 0 1 1 C 495000 10105987 9155987 315000 635000 2016 1 0 1 1 D 320000 10390000 10183139 206861 2017 1 1 1 1 A 1 0 0 0 0 0 1 B 1 0 0 0 0 0 1 C 1 0 0 0 0 1 0.35900 0 1 D 1 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 X 1 98441 FAIR MARKET VALUE 0 0 0 0 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE INCLUDES THE CHAIR, THE PRESIDENT, THE VICE CHAIR(S), THE TREASURER AND THE SECRETARY. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS OF THE ORGANIZATION IN THE INTERVAL BETWEEN BOARD MEETINGS, AND THE EXECUTIVE COMMITTEE IS AT ALL TIMES SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD. THE EXECUTIVE COMMITTEE HAS SUCH OTHER DUTIES AS MAY BE PRESCRIBED BY THE BOARD FROM TIME TO TIME. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION CONSIST OF THOSE INDIVIDUALS WHO ARE CONCURRENTLY MEMBERS OF THE MEMBERS ASSEMBLY, AN ELECTORAL BODY THAT IS ELECTED, DIRECTLY AND INDIRECTLY, BY THE SIX MINNESOTA SYNODS OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE CORPORATION ELECT ALL TRUSTEES AFTER CONSIDERATION OF A SLATE OF NOMINEES APPROVED BY THE NOMINATING COMMITTEE. THE NOMINATING COMMITTEE CONSISTS OF FIVE MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTIONS OF THE BOARD OF TRUSTEES REQUIRE APPROVAL FROM THE MEMBERS: 1. AMENDMENTS TO THE ARTICLES OF INCORPORATION 2. AMENDMENTS TO THE BYLAWS 3. APPOINTMENT OF INDIVIDUALS TO THE BOARD OF TRUSTEES FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED BY THE CEO, THEN PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL, THEN FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ECUMEN'S CONFLICT OF INTEREST POLICY APPLIES TO ALL TRUSTEES, OFFICERS, MANAGERS AND EMPLOYEES WHO CAN INFLUENCE THE ACTIONS OF ECUMEN, INCLUDING THOSE WHO MAKE PURCHASING DECISIONS OR WHO HAVE PROPRIETARY INFORMATION CONCERNING ECUMEN. THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO APPLICABLE PARTIES ANNUALLY AND A SIGNED CONFLICT OF INTEREST DISCLOSURE STATEMENT IS OBTAINED. THE POLICY STATES THAT IT IS THE RESPONSIBILITY OF THE APPLICABLE PARTY TO DISCLOSE A POTENTIALLY CONFLICTING TRANSACTION BEFORE IT IS CONSUMMATED AND TO CONTINUE TO SCRUTINIZE THEIR TRANSACTIONS AND DISCLOSE POTENTIAL CONFLICTS IMMEDIATELY. THE SIGNED CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE MONITORED BY AN H.R. GENERALIST IN THE HOME OFFICE AND BY THE VICE PRESIDENT OF HUMAN RESOURCES. THE VICE PRESIDENT OF HUMAN RESOURCES NOTIFIES THE CEO FOR DISCLOSURES INVOLVING EMPLOYEES, UNLESS THE EMPLOYEE IS THE CEO IN WHICH CASE THE BOARD CHAIR IS NOTIFIED. THE BOARD CHAIR NOTIFIES THE BOARD OR THE APPLICABLE COMMITTEE OF THE BOARD. DISCLOSURES INVOLVING TRUSTEES ARE MADE TO THE BOARD CHAIR, UNLESS THE BOARD CHAIR HAS A CONFLICT IN WHICH CASE THE VICE-CHAIR IS NOTIFIED. CONTROLS ARE PUT INTO PLACE TO MINIMIZE THE RISK OF A CONFLICT. THE CONTROLS ARE SPECIFIC TO THE POTENTIAL AREA OF CONFLICT. FOR INSTANCE, IF AN EMPLOYEE PROVIDES DAILY WORK DIRECTION TO A FAMILY MEMBER, ALL SALARY-RELATED DECISIONS FOR THAT FAMILY MEMBER WOULD BE ASSIGNED TO ANOTHER (NON-RELATED) PERSON. DURING BOARD DISCUSSIONS, THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL FOR THE CONFLICTING TRANSACTION. OTHER SPECIFIC RESTRICTIONS MAY BE IMPOSED, DEPENDING ON THE CONFLICT. A COMPETITIVE BID OR COMPARABLE VALUATION MUST EXIST. THE BOARD, OR DULY CONSTITUTED COMMITTEE, HAS DETERMINED THAT THE TRANSACTION IS IN THE BEST INTEREST OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15 AN INDEPENDENT OUTSIDE CONSULTANT IS USED TO MAKE RECOMMENDATIONS FOR THE COMPENSATION OF THE PRESIDENT/CEO AND VICE PRESIDENTS. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES COMPENSATION FOR THE PRESIDENT/CEO. THE PRESIDENT/CEO CAN APPROVE THE COMPENSATION FOR THE OTHER EXECUTIVE POSITIONS, BUT REVIEWS HER RECOMMENDATIONS WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO IMPLEMENTATION. A COMPLETE REVIEW OF THE VICE PRESIDENTS WAS COMPLETED IN 2018. THE PRESIDENT/CEO REVIEW IS COMPLETED ANNUALLY AND WAS LAST COMPLETED IN 2018. FORM 990, PART VI, SECTION C, LINE 19 ECUMEN'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: PERMANENTLY RESTRICTED ACTIVITY -301,911. PATHSTONE NET INCOME -48,838. ROUNDING 4. NET ASSET TRANSFER 493,013. 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