2018-11-03T11:57:33-05:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2017-01-01 911982139 ECUMEN ECUM 6517664300 3530 LEXINGTON AVENUE NORTH SHOREVIEW MN 55126 SCOTT MCGUIRE CFO & SENIOR VICE PRESIDENT 6517664300 2018-11-01 1 CHRISTOPHER STEINHOFF P01587351 6123764500 2018-11-01 67.137.57.251 2018-11-01 13:55:40 CD P E168BB59A4AC1B98DF6FDFCBC72C1446FCA85D8B 2CCFC7E30E1C7F7287E1A5F09795F66155F6CA59 2017 2018-06-14 16:35:46Z KATHRYN ROBERTS 3530 LEXINGTON AVENUE NORTH SHOREVIEW MN 55126 183458863 1 0 9386 X WWW.ECUMEN.ORG X 1923 MN WE CREATE HOMES FOR OLDER ADULTS, WHEREVER THEY CHOOSE TO LIVE. 13 13 3762 1500 26290 0 3075114 2231219 153698817 153640281 1461422 9792412 677247 253292 158912600 165917204 293679 279133 0 0 89273403 89647666 0 0 599995 69239189 70400749 158806271 160327548 106329 5589656 319012236 314535199 277966043 264919966 41046193 49615233 X WE CREATE HOMES FOR OLDER ADULTS, WHEREVER THEY CHOOSE TO LIVE. 1 1 144072639 279133 153640281 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, 2017, ECUMEN AND ITS AFFILIATES OWNED OR LEASED 42 HEALTH CARE AND OTHER FACILITIES, INCLUDING 11 U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SUBSIDIZED HOUSING PROJECTS. AN ADDITIONAL 20 HEALTH CARE AND OTHER FACILITIES WERE MANAGED FOR UNRELATED THIRD-PARTY OWNERS. 144072639 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 0 0 0 0 1 1 1 1 0 0 1 383 0 3762 1 1 1 0 0 0 0 1 1 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 SCOTT MCGUIRE 6517664300 3530 LEXINGTON AVENUE NORTH SHOREVIEW MN 55126 DARRELL TUKUA CHAIR 1.00 X X 0 0 0 DEBBIE CERVENKA VICE CHAIR 1.00 X X 0 0 0 GAIL OLSON SECRETARY 1.00 X X 0 0 0 ANN BARKELEW TREASURER 1.00 X X 0 0 0 SUSIE CROCKETT TRUSTEE 1.00 X 0 0 0 J MICHAEL DADY TRUSTEE 1.00 X 0 0 0 DAVID DURENBERGER TRUSTEE 1.00 X 0 0 0 ROBERT HOFFMAN TRUSTEE 1.00 X 0 0 0 LISA KRO TRUSTEE 1.00 X 0 0 0 RICHARD OLSON TRUSTEE 1.00 X 0 0 0 JOHN PETRABORG TRUSTEE 1.00 X 0 0 0 JIM SCHOWALTER TRUSTEE 1.00 X 0 0 0 NANCY THOMPSON ULVESTAD TRUSTEE 1.00 X 0 0 0 KATHRYN ROBERTS PRESIDENT & CEO 39.00 1.00 X 594316 0 59989 SHELLEY KENDRICK SR VP OF OPERATIONS 39.00 1.00 X 309610 0 48958 SCOTT MCGUIRE CFO & SENIOR VP OF FINANCE 39.00 1.00 X 268602 0 44943 ROBIN BALCK SR VP HR & STRATEGIC ALIGNMENT 40.00 X 279487 0 29489 ANASTASIA HANLEY SR VP OF PHILANTHROPY 40.00 X 168633 0 12197 JULIE MURRAY SR VP OF MARKETING & DEVELOPMENT 40.00 X 254560 0 25053 LARRY JORGENSEN VP OF INFORMATION TECHNOLOGY 40.00 X 150239 0 7731 JOHN KORZENDORFER SR REGIONAL DIRECTOR OF OPERATIONS 40.00 X 168639 0 19538 CAROL KVIDT SR DIR OF STRATEGY & SPECIAL PROJECTS 40.00 X 173421 0 24252 PAUL LIBBON SR REGIONAL DIRECTOR OF OPERATIONS 40.00 X 182717 0 15173 CYNTHIA MOWAN VP OF FINANCE 39.00 1.00 X 166963 0 22215 JENNIFER PFEFFER SR REGIONAL DIRECTOR OF OPERATIONS 40.00 X 169036 0 33218 2886223 0 342756 45 0 1 0 GRAY PLANT MOOTY 80 S 8TH ST STE 500 MINNEAPOLIS MN 55402 LEGAL 456446 CLIFTONLARSONALLEN LLP 220 S 6TH ST STE 300 MINNEAPOLIS MN 55402 AUDIT & TAX 396713 LINCOLN WASTE 2075 SILAS DEAN HWY STE 101 ROCKY HILL CT 06067 WASTE MANAGEMENT 274916 LIFESTYLE COMMUNITIES LLC 6597 HARBOR BEACH NE PRIOR LAKE MN 55372 DEVELOPMENT 247638 OUTCOME RESOURCE LLC 2210 PLAZA DRIVE SUITE 300 ROCKLIN CA 95765 CONSULT 200653 8 8750 95184 300362 1826923 3078 2231219 ASSISTED LIVING FEES 623000 75324667 75324667 NURSING REVENUE 623000 73841275 73841275 MANAGEMENT FEES 541610 2631191 2631191 OTHER OPERATING FEES 623000 707922 707922 MEAL FEES 722210 641215 641215 494011 494011 153640281 760018 760018 201277 0 201277 201277 201277 2284417 24208060 1869878 15590205 414539 8617855 9032394 9032394 30240 95184 42987 -12747 -12747 64677 38589 26088 26088 CAFE/CATERING REVENUES 722320 342839 342839 TENANT FEES 623000 329165 329165 FACILITY USE FEES 713940 182675 182675 -816005 26290 -842295 38674 165917204 153640281 26290 10019414 279133 279133 2253804 494152 1578822 180830 70148176 63913311 6015169 219696 2239365 1815401 403209 20755 9429906 8769918 624502 35486 5576415 5095575 451000 29840 2898740 2898740 428319 367535 60393 391 206338 20634 185704 14554991 13625355 891342 38294 893920 757069 135586 1265 1161403 893426 258359 9618 804879 419243 370402 15234 7912955 7015284 897671 1121603 952473 158962 10168 949467 747766 174752 26949 10292102 9147210 1144892 12859193 11113193 1746000 982170 782848 199322 RESIDENT CARE SUPPLIES 10009487 10009487 EQUIP. RENTAL & MAINT. 1944506 1656574 287148 784 SURCHARGE 1504387 1504387 BAD DEBT EXPENSE 512070 506812 5258 1364219 1287113 71679 5427 160327548 144072639 15654914 599995 14485930 23389152 1254755 486753 14015723 14937885 174522 1163761 659100 658304 313594347 106018295 230826094 207576052 29372440 32620220 2450462 2724422 649095 0 5824664 5380018 19299451 25598632 319012236 314535199 16040287 12701257 -141227 -187727 97081597 86259461 2906845 1717076 159522984 156161107 2555557 8268792 277966043 264919966 X 35354634 43147508 2203503 2706764 3488056 3760961 41046193 49615233 319012236 314535199 X 5589656 3262060 -282676 X 0 1 X 1 0 X 5659867 3935527 3605371 3075114 2231219 18507098 138900293 138286180 143553103 153698817 153640281 728078674 144560160 142221707 147158474 156773931 155871500 746585772 131190 111011 11850 254051 0 131190 111011 11850 254051 746331721 728737 715674 845436 906752 961295 4157894 728737 715674 845436 906752 961295 4157894 1172940 1290627 1522610 636870 107301 4730348 146461837 144228008 149526520 158317553 156940096 755474014 0.98790 0.98640 0.00550 0.00570 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 0 0 0 0 0 0 0 0 1 0 0 0 PART II-B, LINE 1, LOBBYING ACTIVITIES ECUMEN PAID $155,783 FOR MEMBERSHIP DUES TO AGING SERVICES OF MINNESOTA AND LEADINGAGE. 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 AMOUNTS SHOWN ARE THE TOTAL DUES PAID TO THE RESPECTIVE ASSOCIATIONS, BUT THE PERCENTAGE OF THE DUES ATTRIBUTABLE TO LOBBYING ACTIVITIES HAS NOT BE PROVIDED TO ECUMEN. 0 1 X 5691560 1355320 273960 853115 6467725 5568271 1857857 27715 1762283 5691560 5517731 1333259 -305205 977515 5568271 7463660 1578164 -52676 3471417 5517731 4034189 3441957 206028 218514 7463660 0.00000 0.58000 0.42000 1 0 15331527 15331527 271833137 87383470 184449667 25777738 18634825 7142913 651945 651945 207576052 TENANT SECURITY DEPOSITS 5533900 BOND & MORTGAGE INDENTURE AGREEMENTS 17716243 WORKERS COMPENSATION RESERVE 1500000 OTHER 560445 LETTER OF CREDIT COLLATERAL 288044 25598632 ASSET RETIREMENT OBLIGATIONS 6305125 INSURANCE CLAIMS RESERVES 1963667 8268792 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, 2017 OR DECEMBER 31, 2016. 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 53301 47801 5500 3078 500 4837 250 5267 ECUMEN GOLF TOURNAMENT 30492 13932 16560 960 13001 1248 0 2737 2 41631 33451 8180 500 1629 6252 500 2228 125424 95184 30240 4538 15130 12337 750 10232 42987 -12747 1 EDUCATION GRANTS 144 263230 EMPLOYEE ASSISTANCE 19 15903 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 495456 0 91895 0 6965 0 34200 0 25789 0 654305 0 0 0 SHELLEY KENDRICK SR VP OF OPERATIONS 270097 0 37596 0 1917 0 15583 0 33375 0 358568 0 0 0 SCOTT MCGUIRE CFO & SENIOR VP OF FINANCE 261880 0 6105 0 617 0 15444 0 29499 0 313545 0 0 0 ROBIN BALCK SR VP HR & STRATEGIC ALIGNMENT 242130 0 35706 0 1651 0 16280 0 13209 0 308976 0 0 0 ANASTASIA HANLEY SR VP OF PHILANTHROPY 162394 0 5183 0 1056 0 2894 0 9303 0 180830 0 0 0 JULIE MURRAY SR VP OF MARKETING & DEVELOPMENT 221355 0 32688 0 517 0 13456 0 11597 0 279613 0 0 0 LARRY JORGENSEN VP OF INFORMATION TECHNOLOGY 131494 0 18203 0 542 0 4593 0 3138 0 157970 0 0 0 JOHN KORZENDORFER SR REGIONAL DIRECTOR OF OPERATIONS 151711 0 14508 0 2420 0 10332 0 9206 0 188177 0 0 0 CAROL KVIDT SR DIR OF STRATEGY & SPECIAL PROJECT 155985 0 15916 0 1520 0 9737 0 14515 0 197673 0 0 0 PAUL LIBBON SR REGIONAL DIRECTOR OF OPERATIONS 161197 0 21003 0 517 0 10688 0 4485 0 197890 0 0 0 CYNTHIA MOWAN VP OF FINANCE 150925 0 15090 0 948 0 9871 0 12344 0 189178 0 0 0 JENNIFER PFEFFER SR REGIONAL DIRECTOR OF OPERATIONS 142221 0 25926 0 889 0 10463 0 22755 0 202254 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 APPLE VALLEY MN 410847612 03789WAE0 2010-03-29 5545000 NEW CONSTRUCTION 1 0 0 D CITY OF MAPLEWOOD MN 416008920 565566AE6 2010-07-01 5875000 NEW CONSTRUCTION 1 0 0 A 1905000 4120000 3841720 278280 2003 1 0 1 1 B 1500000 8100000 302750 7797250 2006 0 0 1 1 C 545000 5000000 5545000 223400 4890919 430681 2011 0 0 1 1 D 640000 5235000 5875000 2298710 260945 2881487 433858 2010 0 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 APPLE VALLEY, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 02/28/2015 ISSUER NAME: CITY OF MAPLEWOOD, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 02/28/2015 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: 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 A CITY OF LAKE CRYSTAL MN 416005294 509530BG5 2010-08-10 6865000 NEW CONSTRUCTION 0 0 0 B CITY OF MOORHEAD MN 416005386 61615CAB8 2012-09-27 10076874 REFINANCING SERIES 2005A AND 2008A BONDS 0 0 0 C MOORHEAD ECONOMIC DEVELOPMENT AUTHORITY MN 411671510 61615JAR8 2012-09-27 10000000 REFINANCING SERIES 2005A AND 2008A BONDS 0 0 0 D HOUSING AND REDEVELOPMENT AUTHORITY OF DULUTH MN 416006975 2012-09-28 8300000 REFINANCING SERIES 2004A, 2004B, 2004C, AND 2005 BONDS 0 0 0 A 595000 6865000 508849 419720 334050 550000 5052381 2010 0 0 1 1 B 2630000 10076874 9830951 245923 2012 1 0 1 1 C 10000000 9757473 242527 2012 1 0 1 1 D 1231972 8300000 7984423 154104 161473 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 0 0 0 0 0 1 A 1 B 1 C 1 D 1 A LAKE COUNTY HOUSING AND REDEVELOPMENT AUTHORITY MN 411563472 2012-09-28 9140000 REFINANCING SERIES 2004A, 2004B, 2004C, AND 2005 BONDS 0 0 0 B TOWN OF RICE LAKE MN 416005489 2012-09-28 5560000 REFINANCING SERIES 2004A, 2004B, 2004C, AND 2005 BONDS 0 0 0 C CITY OF FALCON HEIGHTS MN 416007644 2013-01-04 4400000 REFINANCING SERIES 2005A BONDS 0 0 0 D CITY OF CHISAGO CITY MN 416005046 17012CAR4 2013-07-25 18520000 REFINANCING SERIES 2004A AND 2004B BONDS 0 0 0 A 1356755 9140000 8792485 169700 177815 2012 1 0 1 1 B 825334 5560000 5348602 103231 108167 2012 1 0 1 1 C 611867 4400000 4330395 69605 2013 1 0 1 1 D 1245000 18520000 18046679 473321 2013 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 1 0.12100 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 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 ST CLAIR MN 416007794 363651LZ1 2013-07-30 9125000 REFINANCING SERIES 2004D, 2004E, AND 2006 BONDS 0 0 0 B CITY OF DETROIT LAKES MN 416005098 2013-08-01 2670748 REFINANCING SERIES 2004A BONDS 0 0 0 C CITY OF WORTHINGTON MN 416005656 98185QAX1 2014-05-21 6385000 REFINANCING SERIES 2009A BONDS 0 0 0 D CITY OF NORTH BRANCH MN 416005421 2014-11-25 4075000 REFINANCING SERIES 2006B BONDS 0 0 0 A 1422128 9125000 9013939 111061 2013 1 0 1 1 B 337355 2670748 2635370 35379 2013 1 0 1 1 C 575000 6385000 6198840 186160 2014 1 0 1 1 D 545892 4075000 3959541 115460 2014 1 0 1 1 A 1 0 0 0 0.01000 0.01000 0.02000 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 LAKE CRYSTAL MN 416005294 509530BT7 2014-12-18 8316913 REFINANCING SERIES 2006 BONDS 0 0 0 B CITY OF OWATONNA MN 416005444 690558AL5 2014-12-18 6797665 REFINANCING SERIES 2006 BONDS 0 0 0 C CITY OF MINNEAPOLIS MN 416005375 603786AN2 2015-05-18 32052494 NEW CONSTRUCTION 0 0 0 D CITY OF WORTHINGTON MN 416005656 2016-03-15 5900000 REFINANCE SERIES 2007A BONDS 0 0 0 A 1980000 8316913 8067611 249302 2014 1 0 1 1 B 390000 6797665 6593903 203762 2014 0 1 1 1 C 32052494 2032067 1938070 640000 21173798 268558 2016 0 0 1 1 D 383311 5900000 5795819 104181 2016 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 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 VERGAS MN 410900504 923413AN8 2016-08-29 10105987 REFINANCE SERIES 2006 AND 2007 BONDS 0 0 0 B CITY OF MAPLEWOOD MN 416008920 565584AL3 2017-12-21 10390000 REFINANCE SERIES 2010 APPLE VALLEY AND MAPLEWOOD BONDS 0 0 0 A 260000 10105987 9155987 315000 635000 2016 1 0 1 1 B 10390000 10183139 206861 2017 1 1 1 1 A 1 0 0 0 0 1 0.35900 0 1 B 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 A 1 B 1 FORM 990, PART III, LINE 2 DURING MAY 2017, THE UNRELATED PARTNER IN NBSH LIMITED PARTNERSHIP D/B/A UPTOWN MAPLE COMMONS ASSIGNED IS 99.99% OWNERSHIP INTEREST TO NORTH BRANCH AFFORDABLE HOUSING, INC. AND THE PARTERNSHIP DISSOLVED. WITH THIS CHANGE IN OWNERSHIP, NORTH BRANCH AFFORDABLE HOUSING, INC. IS NOW REPORTED AS A DISREGARDED ENTITY OF ECUMEN AND ALL OPERATIONS ARE INCLUDED IN ECUMEN'S FORM 990. FORM 990, PART III, LINE 3 ECUMEN SOLD A SKILLED NURSING HOME AND MARKET RATE HOUSING PROJECT IN ALEXANDRIA, MINNESOTA AND A SKILLED NURING HOME AND MARKET RATE HOUSING PROJECT LOCATED IN CHISAGO CITY, MINNESOTA IN DECEMBER 2017. 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 CFO, 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 2017. THE PRESIDENT/CEO REVIEW IS COMPLETED ANNUALLY AND WAS LAST COMPLETED IN 2017. 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 273,960. PATHSTONE NET INCOME -45,607. ROUNDING 2. NET ASSET TRANSFER -586,141. NORTH BRANCH SENIOR HOUSING PARTNERSHIP CONVERSION 75,110. 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