2022-04-13T16:49:30-05:00 2021-05-31 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2020-06-01 410708577 BETHEL UNIVERSITY BETH 6516386208 3900 BETHEL DRIVE ST PAUL MN 551126999 SCOTT MOATS INTERIM CFO 6516386208 2022-04-13 1 SCOTT MOATS 999009999 SARAH HINTZ P00492291 3037795710 2022-04-13 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z JAMES H BARNES III 3900 BETHEL DRIVE ST PAUL MN 551126999 167448520 0 X WWW.BETHEL.EDU X 1996 MN TO EDUCATE AND ENERGIZE MEN AND WOMEN FOR EXCELLENCE IN LEADERSHIP, SCHOLARSHIP AND SERVICE. 37 35 2789 36 -464424 0 21225633 16363024 123466905 117341482 1676868 2943149 389430 41383 146758836 136689038 44489872 42963335 0 0 62229806 60102316 0 0 1826970 36506285 37255552 143225963 140321203 3532873 -3632165 206434060 210773506 120522852 92445996 85911208 118327510 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 73898592 42592013 101599735 EDUCATIONAL INSTRUCTION:COLLEGE OF ARTS & SCIENCES (LIBERAL ARTS, UNDERGRADUATE): 2,630 STUDENTS; GRADUATE SCHOOL AND COLLEGE OF ADULT & PROFESSIONAL STUDIES (ADULT DEGREE COMPLETION): 2,037 STUDENTS; BETHEL SEMINARY: 753 STUDENTS 16331198 0 0 ACADEMIC SUPPORT SERVICES:SERVICES INCLUDING BUT NOT LIMITED TO: BETHEL UNIVERSITY LIBRARY, OFFICE OF UNIVERSITY REGISTRAR, INFORMATION TECHNOLOGY SERVICES, HEALTH SERVICES, COUNSELING CENTER, AND ATHLETICS. 13355607 0 14857095 AUXILIARY SERVICES:SERVICES INCLUDING BUT NOT LIMITED TO: STUDENT HOUSING (APPROXIMATELY 2/3 OF STUDENTS ARE IN BETHEL HOUSING), FOOD SERVICE, CAMPUS STORE. 371322 371322 916989 OTHER PROGRAM SERVICES 371322 371322 916989 103956719 1 1 0 1 0 0 0 1 0 1 1 1 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 1 1 0 0 0 0 1 1 1 0 0 1 5700 0 1 2789 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 37 35 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MN CA X SCOTT MOATS 6516386208 3900 BETHEL DRIVE ST PAUL MN 551126999 ALAN JOHNSON TRUSTEE 5.00 0.00 X 0 0 0 ANN TSCHETTER TRUSTEE 5.00 0.00 X 0 0 0 BARBARA NICHOLSON TRUSTEE 5.00 0.00 X 0 0 0 BRIAN PROVOST TRUSTEE 5.00 0.00 X 0 0 0 CHRIS MEIDT TRUSTEE 5.00 0.00 X 0 0 0 COLLIN BARR CHAIR 5.00 0.00 X X 0 0 0 DAN DYE VICE CHAIR 5.00 0.00 X X 0 0 0 DAN FROMM TRUSTEE 5.00 0.00 X 0 0 0 DANIEL LINDH TRUSTEE 5.00 0.00 X 0 0 0 DAVID HORSAGER TRUSTEE 5.00 0.00 X 0 0 0 DAWN MARCUS TRUSTEE 5.00 0.00 X 0 0 0 DEANNA CONRAD TRUSTEE 5.00 0.00 X 0 0 0 ERIC GREEN TRUSTEE 5.00 0.00 X 0 0 0 GASBY BROWN TRUSTEE 5.00 0.00 X 0 0 0 GEORGE SOLTERO TRUSTEE 5.00 0.00 X 0 0 0 JIM GREEN TRUSTEE 5.00 0.00 X 0 0 0 JOEL LAWERENCE TRUSTEE 5.00 0.00 X 0 0 0 JOHN BUTCHER TRUSTEE 5.00 0.00 X 0 0 0 KRISTI PIEHL TRUSTEE 5.00 0.00 X 0 0 0 LAURA MCKNIGHT TRUSTEE 5.00 0.00 X 0 0 0 LESLIE CHAPMAN TRUSTEE 5.00 1.00 X 0 0 0 LINDA GOODWIN SECRETARY 5.00 1.00 X X 0 0 0 MARK BJORLO TRUSTEE 5.00 0.00 X 0 0 0 MICHAEL BROCKER TRUSTEE 5.00 1.00 X 0 0 0 PAMELA OLSON TRUSTEE 5.00 0.00 X 0 0 0 PAUL MITTON TRUSTEE 5.00 0.00 X 0 0 0 RANDY DORN TREASURER 5.00 0.00 X X 0 0 0 RODERICK HAIRSTON TRUSTEE 5.00 0.00 X 0 0 0 RONN KREPS TRUSTEE 5.00 0.00 X 0 0 0 ROSS ALLEN PRESIDENT 40.00 1.00 X X 230813 0 7883 SCOTT RIDOUT TRUSTEE 5.00 0.00 X 0 0 0 SHERI GUIMONT TRUSTEE 5.00 0.00 X 0 0 0 STEPHANIE K WILLIAMS O'BRIEN TRUSTEE 5.00 0.00 X 0 0 0 STEVE WILHITE TRUSTEE 5.00 0.00 X 0 0 0 TROY KOPISCHKE TRUSTEE 5.00 0.00 X 0 0 0 WAYNE JOHNSON TRUSTEE 5.00 0.00 X 0 0 0 WILLIAM ANKERBERG TRUSTEE 5.00 0.00 X 0 0 0 AMY BLAZ VP FOR FINANCE 40.00 0.00 X 131083 0 26457 JAMES BARNES PRESIDENT (LEFT 06/2021) 40.00 1.00 X 165483 0 15571 DEB HARLESS EXEC VP AND PROVOST (LEFT 02/2021) 40.00 0.00 X 153251 0 27842 JAMES BENDER VP FOR ADVANCEMENT 40.00 1.00 X 151596 0 31916 JOHN ADDLEMAN VP FOR STUDENT EXPERIENCE 40.00 0.00 X 148440 0 12456 KRISTI MOLINE EXEC DIRECTOR, CENTER FOR HEALTHCARE EXCELLENCE 40.00 0.00 X 136747 0 26887 RANDALL BERGEN ASSOC PROVOST FOR THE COLLEGE OF ADULT AND PROFESS 40.00 0.00 X 134239 0 26795 WILLIAM WASHINGTON VP FOR STUDENT LIFE (LEFT DURING YEAR) 40.00 0.00 X 118469 0 52614 1370121 0 228421 9 0 1 0 SODEXO AMERICA LLC PO BOX 536922 ST PAUL GA 303536922 FOOD SERVICE MANAGEMENT 5166697 MCGOUGH CONSTRUCTION CO LLC 2737 FAIRVIEW AVE N ATLANTA MN 551131307 CONSTRUCTION/ REMODELING/ REMODELING 2079047 HAWORTH MARKETING AND MEDIA 2304 MOMENTUM PL CAMBRIDGE IL 606895325 MARKETING AND MEDIA SEARCH 1921721 METROPOLITAN MECHANICAL CONTRACTORS INC 7450 FLYING CLOUD DR CHICAGO MN 553443582 CONSTRUCTION/ REMODELING/ REMODELING/ RE 1026121 LOFFLER COMPANIES INC 1101 E 78TH ST STE 200 BLOOMINGTON MN 554201405 PRINT AND OFFICE SERVICES 646926 43 47320 458963 5608765 10247976 4273603 16363024 TUITION & FEES 611600 101567398 101567398 AUXILIARY SERVICES 611710 14857095 14857095 OTHER STUDENT FEES 611710 916989 916989 117341482 326071 -482289 808360 18675 810 17865 17865 17865 31202541 1184032 29769495 0 1433046 1184032 2617078 2617078 7050 47320 15869 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17461934 43598169 68449274 74729341 85911208 118327510 206434060 210773506 X -3632165 14712786 21335681 X X 0 1 X 1 1 1 X 12240721 11807165 8266777 21198033 16363024 69875720 12240721 11807165 8266777 21198033 16363024 69875720 17069474 52806246 975924 435756 1229382 1327839 344747 4313648 287255 104551 27890 27600 14001 461297 74650665 519777552 0.70740 0.79980 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2016 AMOUNT: $ 287,255. 2017 AMOUNT: $ 104,551. SPECIAL EVENTS - 2018 AMOUNT: $ 27,890. 2019 AMOUNT: $ 27,600. 2020 AMOUNT: $ 14,001. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 0 1 122006 122006 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 $122,006 DURING THE FISCAL YEAR. BASED ON FIGURES PROVIDED BY MPCC, 100% OF BETHEL'S DUES WENT TOWARD LOBBYING. X X 0 48774844 1992364 16393773 1262238 928280 129939 64840524 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 0.13340 0.60610 0.26050 0 1 1 2380124 2380124 183399970 74561385 108838585 10031566 8054636 1976930 36523146 32233634 4289512 195693 195693 117680844 HEDGE FUND INVESTMENTS 12047360 F 12047360 GIFT ANNUITY CONTRACTS 1734352 PENSION LIABILITY 30951447 LIABILITY FOR SELF-INSURANCE 343759 OTHER LIABILITIES 465793 33495351 X 109799798 14712786 989987 15702773 94097025 42592013 42592013 136689038 98719177 989987 989987 97729190 42592013 42592013 140321203 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 15,869. COST OF GOODS SOLD 973,308. RENT EXPENSES 810. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONALLY FUNDED AID 42,592,013. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 15,869. COST OF GOODS SOLD 973,308. RENT EXPENSES 810. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONALLY FUNDED AID 42,592,013. 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. SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 19780 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS N/A 9805330 EUROPE 0 0 INVESTMENTS N/A 2690023 EAST ASIA AND THE PACIFIC 0 0 FOREIGN STUDENT FINANCIAL AID N/A 26977 NORTH AMERICA 0 0 FOREIGN STUDENT FINANCIAL AID N/A 29600 SUB-SAHARAN AFRICA 0 0 FOREIGN STUDENT FINANCIAL AID N/A 10900 0 0 0 0 0 0 12582610 0 12582610 1 0 1 1 0 0 PART I, LINE 3: ACCRUAL METHOD PART III ACCOUNTING METHOD: BETHEL GOLF CLASSIC 54370 47320 7050 1125 5000 9156 588 54370 47320 7050 1125 5000 9156 588 15869 -8819 1 BETHEL UNIVERSITY FOUNDATION 3900 BETHEL DRIVE ST PAUL MN 55112 237094836 501(C)(3) 369694 N/A N/A GENERAL SUPPORT 1 0 SCHOLARSHIPS & FINANCIAL AID 2519 42592013 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 1 0 0 0 0 0 0 0 0 ROSS ALLEN PRESIDENT 229833 0 0 0 980 0 7267 0 616 0 238696 0 0 0 JAMES BENDER VP FOR ADVANCEMENT 150693 0 0 0 903 0 5625 0 26291 0 183512 0 0 0 DEB HARLESS EXEC VP AND PROVOST (LEFT 02/2021) 152632 0 0 0 619 0 6351 0 21491 0 181093 0 0 0 JAMES BARNES PRESIDENT (LEFT 06/2021) 157894 0 0 0 7589 0 8309 0 7262 0 181054 0 0 0 WILLIAM WASHINGTON VP FOR STUDENT LIFE (LEFT DURING YEA 62770 0 0 0 55699 0 3869 0 48745 0 171083 0 0 0 KRISTI MOLINE EXEC DIRECTOR, CENTER FOR HEALTHCARE 136632 0 0 0 115 0 5462 0 21425 0 163634 0 0 0 RANDALL BERGEN ASSOC PROVOST FOR THE COLLEGE OF ADU 133769 0 0 0 470 0 5384 0 21411 0 161034 0 0 0 JOHN ADDLEMAN VP FOR STUDENT EXPERIENCE 146790 0 0 0 1650 0 5628 0 6828 0 160896 0 0 0 AMY BLAZ VP FOR FINANCE 130772 0 0 0 311 0 5063 0 21394 0 157540 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE: JAMES H. BARNES III - NOT INCLUDED IN TAXABLE COMPENSATION WILLIAM WASHINGTON - NOT INCLUDED IN TAXABLE COMPENSATION SOCIAL CLUB DUES: JAMES H. BARNES III - NOT INCLUDED IN TAXABLE COMPENSATION PART I, LINE 4A WILLIAM WASHINGTON RECEIVED A SEVERANCE PAYMENT OF $55,271 DURING THE YEAR. 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 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 KRISTI PIEHL TRUSTEE 45665 PAYMENT TO THE COMPANY MEDIA MINEFIELD FOR MEDIA SERVICES. 1 X 29 4241478 STOCK MARKET QUOTES X 1 31000 FMV X DOOR PRIZES 1 1125 FMV 0 0 1 1 PART I, COLUMN (B): COLUMN (B) IS THE NUMBER OF CONTRIBUTORS. PART I, LINE 32B: US BANK ASSITS IN SELLING STOCK GIFTS. 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. 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 A COPY OF THE 990 IS PROVIDED TO MEMBERS OF THE GOVERNING BODY 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 773,115. CHANGE IN PENSION LIABILITY 20,562,566. 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 680198 2080923 1 1 1.00000 0 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 BETHEL UNIVERSITY FOUNDATION B 369694 FMV BETHEL UNIVERSITY FOUNDATION C 458963 FMV