2015-03-09T14:30:07-05:00 2014-05-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2013-06-01 410708577 BETHEL UNIVERSITY BETH 6516386208 3900 BETHEL DRIVE ST PAUL MN 551126999 PATRICK BROOKE CHIEF FINANCIAL OFFICER 6516386208 2015-03-03 1 KAREN GRIES P00078514 6123764500 2013 2016-03-07 17:11:31Z JAMES H BARNES III 3900 BETHEL DRIVE ST PAUL MN 551126999 166031201 0 X WWW.BETHEL.EDU X 1996 MN TO EDUCATE AND ENERGIZE MEN AND WOMEN FOR EXCELLENCE IN LEADERSHIP, SCHOLARSHIP AND SERVICE. 39 38 3390 38 39206 -55677 14179909 8427752 123122993 124202835 2423456 3525311 4078150 2241871 143804508 138397769 32540454 33006992 0 0 68377110 60635994 0 0 1865081 37295693 39455350 138213257 133098336 5591251 5299433 170022766 173692433 84735106 83997770 85287660 89694663 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 70871465 32675227 104772962 EDUCATIONAL INSTRUCTION:COLLEGE OF ARTS & SCIENCES (LIBERAL ARTS, UNDERGRADUATE): 2,923 STUDENTS; GRADUATE SCHOOL AND COLLEGE OF ADULT & PROFESSIONAL STUDIES (ADULT DEGREE COMPLETION): 2,668 STUDENTS; BETHEL SEMINARY: 1,007 STUDENTS 16488186 0 1105470 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. 14353130 0 18881883 AUXILIARY SERVICES:SERVICES INCLUDING BUT NOT LIMITED TO: STUDENT HOUSING (APPROXIMATELY 2/3 OF STUDENTS ARE IN BETHEL HOUSING), FOOD SERVICE, CAMPUS STORE. 331765 331765 0 SUPPORT TO BETHEL UNIVERSITY FOUNDATION:SUPPORT SERVICES TO THE FOUNDATION INCLUDING PROVIDING OFFICE SPACE AND ASSOCIATED EXPENSES AT NO COST. 331765 331765 0 102044546 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 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 0 0 0 0 1 1 1 0 0 1 294 0 3390 1 1 1 1 UK 0 0 0 0 0 0 0 0 X 39 38 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 CA X PATRICK BROOKE 6516386208 3900 BETHEL DRIVE ST PAUL MN 551126999 BARNES III JAMES H PRESIDENT 40.00 1.00 X X 201174 0 75541 WIENS HAROLD J CHAIR 5.00 1.00 X X 0 0 0 GREEN JAMES B VICE CHAIR 5.00 0.00 X X 0 0 0 JOHNSON JOEL K SECRETARY 5.00 0.00 X X 0 0 0 BJORK ROBERT TREASURER 5.00 0.00 X X 0 0 0 DYE DANIEL ASSISTANT SECRETARY 5.00 0.00 X X 0 0 0 ANDERSON ROLLIE TRUSTEE 5.00 1.00 X 0 0 0 BARR COLLIN E TRUSTEE 5.00 0.00 X 0 0 0 BERGSTEDT ALAN 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 CONRAD DEANNA TRUSTEE 5.00 0.00 X 0 0 0 EVANS THOMAS C TRUSTEE 5.00 0.00 X 0 0 0 HAGER DEAN TRUSTEE 5.00 0.00 X 0 0 0 HENDERSON MICHAEL TRUSTEE 5.00 0.00 X 0 0 0 HUMMEL DALE TRUSTEE 5.00 0.00 X 0 0 0 JENKINS JOHN K TRUSTEE 5.00 0.00 X 0 0 0 JENSEN WAYLAND E TRUSTEE 5.00 0.00 X 0 0 0 JOHNSON DONALD H TRUSTEE 5.00 0.00 X 0 0 0 KAUPS KRISTA L TRUSTEE 5.00 0.00 X 0 0 0 KIRBY STEVE T TRUSTEE 5.00 0.00 X 0 0 0 KOPISCHKE TROY TRUSTEE 5.00 0.00 X 0 0 0 LARSON KARIN L TRUSTEE 5.00 0.00 X 0 0 0 LINDH DANIEL A TRUSTEE 5.00 0.00 X 0 0 0 MADURO TRINA TRUSTEE 5.00 0.00 X 0 0 0 MCKNIGHT LAURA TRUSTEE 5.00 1.00 X 0 0 0 MITTON PAUL TRUSTEE 5.00 0.00 X 0 0 0 MOUA T CHER 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 ROISE JOHN TRUSTEE 5.00 0.00 X 0 0 0 SHEVELAND GERALD R TRUSTEE 5.00 0.00 X 0 0 0 SMITH HAROLD B TRUSTEE 5.00 0.00 X 0 0 0 SOLTERO GEORGE H TRUSTEE 5.00 0.00 X 0 0 0 TRAUDT TIM N TRUSTEE 5.00 0.00 X 0 0 0 TSCHETTER RONALD A TRUSTEE 5.00 0.00 X 0 0 0 WHITE JULIE M TRUSTEE 5.00 0.00 X 0 0 0 WORIES JOHN TRUSTEE 5.00 0.00 X 0 0 0 NELSON KATHLEEN SR VP FINANCE & ADMIN 40.00 0.00 X 156704 0 18356 HARLESS DEBRA EXECUTIVE VP AND PROVOST 40.00 0.00 X 155561 0 34704 MAZOROL PATRICK SR VP UNIVERSITY RELATIONS 40.00 1.00 X 153271 0 26708 LALUZERNE JOSEPH SR VP STRATEGIC PLANNING 40.00 0.00 X 154644 0 34387 SCHULZE EDITH VP FOR STUDENT LIFE 40.00 0.00 X 131438 0 12929 LINDVALL SHERIE SR VP COMMUNICATIONS/MKTG 40.00 0.00 X 129112 0 17338 SULLIVAN-TRAINOR DEBORAH VP AND DEAN 40.00 0.00 X 127805 0 15108 JENSEN MARY ASSOCIATE DEAN 40.00 0.00 X 123751 0 30719 CROMBIE RICHARD VP AND DEAN 40.00 0.00 X 118572 0 22238 1452032 0 288028 21 0 1 0 SODEXHO INC 3900 BETHEL DRIVE ST PAUL MN 55112 FOOD SERVICE MANAGEMENT 5428447 MA MORTENSON CONSTRUCTION 700 MEADOW LANE NORTH MINNEAPOLIS MN 55422 GENERAL CONTRACTOR 1528939 HAWORTH 2304 MOMENTUM PLACE CHICAGO IL 60689 MARKETING & MEDIA SERVICES 665844 ROYALL & COMPANY 1920 EAST PARHAM ROAD RICHMOND VA 23228 ENROLLMENT MANAGEMENT SERVICES 310438 COUNCIL FOR CHRISTIAN COLLEGES 321 8TH STREET NORTHEAST WASHINGTON DC 20002 OFF-CAMPUS STUDY PROGRAMS 299360 23 25961 36178 2278319 6087294 556232 8427752 TUITION & FEES 611600 102926885 102926885 AUXILIARY SERVICES 611710 18324403 18324403 STUDY ABROAD 611710 1542659 1542659 STUDENT PROGRAMS 611710 1105470 1105470 MUSIC GROUP TOURS 611710 303418 303418 124202835 1743418 1743418 79221 170761 -91540 -91540 -91540 28078009 26296116 1781893 1781893 1781893 21920 36178 41388 -19468 -19468 1682647 1125167 557480 557480 OTHER REVENUE 900099 1795399 130746 1664653 1795399 138397769 124760315 39206 5170496 331765 331765 32675227 32675227 1062729 254539 560574 247616 45881711 33330972 11605058 945681 1998080 1439603 514948 43529 8500867 5230935 3123948 145984 3192607 2285449 828720 78438 317303 3244 312246 1813 74418 74418 115866 115866 110368 110368 1480323 831457 639269 9597 2825083 272035 2431239 121809 4059439 2482464 1442184 134791 151864 104275 47364 225 4045381 1218186 2827195 3608801 3191600 353758 63443 605067 290278 256686 58103 2465434 1800706 664728 4954880 4620757 334123 1248492 1248492 FOOD SERVICE 5939562 5939562 IMPROVEMENTS 4729845 2275538 2447040 7267 MISCELLANEOUS 2723224 3465954 -749515 6785 133098336 102044546 29188709 1865081 14253721 18419429 502210 503938 552314 286791 3566200 4634635 931846 940587 1778965 1863434 178024502 77695790 99362223 100328712 35428518 31396638 10828348 12591001 2818421 2727268 170022766 173692433 8135403 6655116 1972935 1944754 1466141 1381360 43140000 42230000 3750 30016877 31786540 84735106 83997770 X 38743506 40111080 19674522 21168540 26869632 28415043 85287660 89694663 170022766 173692433 X 5299433 929131 1107855 -2929416 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 0 1 115866 115866 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 $161,937 DURING THE FISCAL YEAR. BASED ON FIGURES PROVIDED BY MPCC, $115,866 OF BETHEL'S DUES WENT, IN PART, TOWARD LOBBYING. 2700 X X 0 34395566 918381 3340212 519471 489171 116360 37529157 28873064 1704768 4848366 434704 493398 102530 34395566 30808051 645641 -1536634 585446 437451 21097 28873064 26955788 379543 4742244 489596 759134 20794 30808051 24335225 777180 3880865 1033453 984923 19106 26955788 0.00650 0.75710 0.23640 0 1 1 1335256 1335256 136713486 47973081 88740405 6838095 6240346 597749 29659724 23482363 6177361 3477941 3477941 100328712 HEDGE FUND INVESTMENTS 12591001 F 12591001 GIFT ANNUITY CONTRACTS 3374049 PENSION LIABILITY 27074311 POSTRETIREMENT BENEFITS LIABILITY 611545 LIABILITY FOR SELF-INSURANCE 397803 OTHER LIABILITIES 328832 31786540 X 101928433 1337316 1337316 100591117 37806652 37806652 138397769 101760425 1337316 1337316 100423109 32675227 32675227 133098336 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 HAS ADOPTED 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. THE IMPLEMENTATION OF THIS STANDARD HAD NO IMPACT ON BETHEL'S FINANCIAL STATEMENTS. BETHEL'S TAX RETURNS ARE OPEN TO EXAMINATIONS FOR THE YEARS 2011 THROUGH 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 41,388. COST OF GOODS SOLD 1,125,167. RENTAL EXPENSES 170,761. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONALLY FUNDED AID 32,675,227. NON-OPERATING CONTRIBUTIONS, GIFTS & BEQUESTS 2,617,164. NON-OPERATING INVESTMENT INCOME 2,524,216. NON-OPERATING OTHER SOURCES -9,955. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 41,388. COST OF GOODS SOLD 1,125,167. RENTAL EXPENSES 170,761. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONALLY FUNDED AID 32,675,227. 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 324611 EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 65290 EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD 1245841 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 99031 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 376643 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS N/A 10071163 0 0 0 0 0 0 12182579 0 12182579 1 0 0 0 0 0 PART I, LINE 3: ACCRUAL METHOD BETHEL GOLF CLASSIC 58098 36178 21920 14155 18282 3313 5638 58098 36178 21920 14155 18282 3313 5638 41388 -19468 1 BETHEL UNIVERSITY FOUNDATION 3900 BETHEL DRIVE ST PAUL MN 55112 237094836 501(C)(3) 331765 0 N/A N/A GENERAL SUPPORT 1 0 SCHOLARSHIPS & FINANCIAL AID 4707 32675227 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 201174 0 0 0 0 0 15025 0 60516 0 276715 0 0 0 NELSON KATHLEEN SR VP FINANCE & ADMIN 156704 0 0 0 0 0 9553 0 8803 0 175060 0 0 0 HARLESS DEBRA EXECUTIVE VP AND PROVOST 155561 0 0 0 0 0 9793 0 24911 0 190265 0 0 0 MAZOROL PATRICK SR VP UNIVERSITY RELATIONS 153271 0 0 0 0 0 9542 0 17166 0 179979 0 0 0 LALUZERNE JOSEPH SR VP STRATEGIC PLANNING 154644 0 0 0 0 0 9793 0 24594 0 189031 0 0 0 JENSEN MARY ASSOCIATE DEAN 123751 0 0 0 0 0 6400 0 24319 0 154470 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE: JAMES H. BARNES III - NOT INCLUDIBLE IN TAXABLE COMPENSATION SOCIAL CLUB DUES: JAMES H. BARNES III - NOT INCLUDIBLE IN TAXABLE COMPENSATION A MN HIGHER EDUCATION FACILITIES AUTHORITY 410988525 60416HLD4 2007-08-02 43541514 CONSTRUCTION & BOND RETIREMENT 0 0 0 A 1770000 43541514 1147501 679875 13855976 27828161 2009 1 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 0 0 0 0 0 0 0 A 0 X 1 2700 FMV X 26 536229 STOCK MARKET QUOTES X DOOR PRIZES 45 10331 FAIR MARKET VALUE X FURNITURE 7 5872 FAIR MARKET VALUE X MISCELLANEOUS 4 1100 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE UNIVERSITY REPORTS THE NUMBER OF CONTRIBUTORS ON PART I, COLUMN (B). 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 BAPTIST GENERAL CONFERENCE (BGC). ELECTED DELEGATES OF MEMBER CHURCHES, REGULARLY ELECTED MEMBERS OF THE BGC 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 BAPTIST GENERAL CONFERENCE 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 11 THE PUBLIC INSPECTION COPY OF THE FORM 990 WAS ELECTRONICALLY 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 UNIVERSITY 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 UNIVERSITY. THE MINUTES OF THE MEETING OF THE BOARD OR COMMITTEE SHALL REFLECT THE CONLFICT 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 2013 FOR J. BARNES, PRESIDENT; K. NELSON, SR VP FINANCE & ADMIN; D. HARLESS, EX VP & PROVOST; P. MAZOROL, SR VP UNIVERSITY RELATIONS; S. LINDVALL, SR VP STRATEGIC PLANNING; AND J. LALUZERNE, SR VP COMMUNICATIONS/MKTG. 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 -818,070. CHANGE IN PENSION LIABILITY -2,111,346. 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 0 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 BETHEL UNIVERSITY FOUNDATION B 331765 FMV