2021-03-12T16:52:19-06:00 2020-06-30 390859910 BAKER TILLY US LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2019-07-01 410747165 BETHANY LUTHERAN COLLEGE INC BETH 5073447000 700 LUTHER DRIVE MANKATO MN 56001 GENE R PFEIFER PRESIDENT 5073447000 2021-03-05 1 LAWRENCE H MOHR CPA P00447603 6128764500 2019 2022-09-23 18:48:47Z GENE R PFEIFER 700 LUTHER DRIVE MANKATO MN 56001 43563640 0 X WWW.BLC.EDU X 1927 MN BETHANY LUTHERAN COLLEGE IS A PRIVATE, RESIDENTIAL, LIBERAL ARTS COLLEGE COMMITTED TO THE TEACHINGS OF THE BIBLE AS SET FORTH IN THE LUTHERAN CONFESSIONS. BETHANY PROVIDES STUDIES CULMINATING IN A BACHELOR OF ARTS & SCIENCE DEGREES. BETHANY LUTHERAN THEOLOGICAL SEMINARY EXISTS IN ORDER TO TRAIN MEN FOR THE PUBLIC MINISTRY IN THE ELS AS WELL AS TO SERVE THE SYNOD'S THEOLOGICAL NEEDS. 12 12 673 15 -4212 -4212 5774511 6252999 19772875 19718739 2008426 621045 1253044 1347731 28808856 27940514 8761195 9576971 0 0 10437143 10667866 0 0 841363 9156898 9719835 28355236 29964672 453620 -2024158 93817053 97860298 14242920 21200176 79574133 76660122 X BETHANY LUTHERAN COLLEGE PROVIDES CHRISTIAN HIGHER EDUCATION IN A CHALLENGING ACADEMIC ENVIRONMENT WHERE PERSONAL MENTORING GUIDES STUDENTS TO PURSUE KNOWLEDGE, TRUTH, AND DISCERNMENT FOR PRODUCTIVE AND FULFILLING LIVES. 0 0 17932278 9576971 16751680 INSTRUCTION: BETHANY LUTHERAN COLLEGE AWARDS THE BACHELOR OF ARTS & SCIENCE DEGREES WITH MAJORS IN MORE THAN 29 SUBJECT AREAS AND A MASTER OF DIVINITY AND A MASTER OF ARTS DEGREES. THE 2019-2020 ACADEMIC YEAR ENROLLMENT WAS 641 FULL TIME EQUIVALENT (FTE) STUDENTS IN THE FALL SEMESTER AND 599 FTE STUDENTS ENROLLED IN THE SPRING SEMESTER. OF THE TOTAL NUMBER OF STUDENTS ENROLLED IN 2019-2020 ACADEMIC YEAR, 94 MET THE REQUIREMENTS OF GRADUATION. 5958177 66251 STUDENT SERVICES & ACADEMIC SUPPORT: BETHANY BOASTS A LONG-STANDING COMMITMENT TO EDUCATING THE WHOLE PERSON BY NOURISHING THE INTELLECTUAL, SPIRITUAL, EMOTIONAL, SOCIAL AND PHYSICAL DIMENSIONS OF STUDENTS' LIVES. THE COLLEGE OFFERS A CURRICULUM THAT CHALLENGES STUDENTS TO THINK CRITICALLY AND EXPRESS THEMSELVES EFFECTIVELY, A CAMPUS LIFE THAT ENCOURAGES INVOLVEMENT AND SERVICE (OVER 25 STUDENT ORGANIZATIONS), A COMMUNITY OF FAITH THAT NURTURES SPIRITUAL GROWTH AND DEVELOPS MORAL RESPONSIBILITY, AND CO-CURRICULAR ACTIVITIES THAT INSPIRE STUDENTS TO TEST THEIR OWN LIMITS AND EXPRESS THEIR INDIVIDUALITY. 2797789 2900808 AUXILIARY ENTERPRISES AT BETHANY LUTHERAN COLLEGE PROVIDES FOUR RESIDENCE HALLS ON CAMPUS, ONE DINING VENUE, AND A SPIRIT STORE FOR STUDENTS, FACULTY AND STAFF. OF THE TOTAL STUDENT BODY, 73% OF ENROLLED STUDENTS LIVED ON-CAMPUS AND PARTICIPATED IN THE RESIDENT STUDENT BOARD PLAN. 413 STUDENTS RESIDED IN CAMPUS HOUSING IN THE 2019-2020 FALL SEMESTER AND 395 IN THE SPRING SEMESTER. OTHER PROGRAM SERVICES INCLUDE OPERATIONS AND MAINTENANCE OF PLANT AND INSTITUTIONAL SUPPORT. THESE PROGRAMS PROVIDE SERVICES TO OPERATE AND MAINTAIN BUILDINGS AND GROUNDS AND TO SUPPORT INSTITUTIONAL OPERATIONS OTHER THAN MANAGEMENT AND GENERAL. 26688244 1 1 0 1 0 0 0 1 0 1 1 1 0 1 1 1 1 0 1 0 1 0 1 0 1 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 71 0 673 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 MN X DANIEL L MUNDAHL 5073447739 700 LUTHER DRIVE MANKATO MN 56001 DR GENE R PFEIFER COLLEGE PRESIDENT 40.00 X 158091 0 46881 DANIEL L MUNDAHL SENIOR VP OF FIN & ADMIN/TREASURER 40.00 X 123410 0 16455 REV GAYLIN SCHMELING SEMINARY PRESIDENT 40.00 X 92651 0 37492 ARTHUR WESTPHAL VP OF ADVANCEMENT 40.00 X 105427 0 11747 GREGORY COSTELLO CONTROLLER/ASST. TREASURER 40.00 X 73573 0 15094 REV HERBERT HUHNERKOCH CHAIRMAN-BOARD OF REGENTS 1.00 X X 0 0 0 REV MARK BARTELS VICE-CHAIR-BOARD OF REGENT 1.00 X X 0 0 0 MR WILLIAM SOULE SECRETARY-BOARD OF REGENTS 1.00 X X 0 0 0 DR WILLIS ANTHONY MEMBER-BOARD OF REGENTS 1.00 X 0 0 0 REV ERWIN EKHOFF MEMBER-BOARD OF REGENTS 1.00 X 0 0 0 MR LYLE FAHNING MEMBER-BOARD OF REGENTS 1.00 X 0 0 0 DR JOSHUA MEARS MEMBER-BOARD OF REGENTS 1.00 X 0 0 0 MR JAMES MINOR MEMBER-BOARD OF REGENTS 1.00 X 0 0 0 REV ALEXANDER RING MEMBER-BOARD OF REGENTS 1.00 X 0 0 0 MR TIMOTHY ROEMHILDT MEMBER-BOARD OF REGENTS 1.00 X 0 0 0 MR TIM THIELE MEMBER-BOARD OF REGENTS 1.00 X 0 0 0 REV DAVID THOMPSON MEMBER-BOARD OF REGENTS 1.00 X 0 0 0 553152 0 127669 3 0 1 0 ROBERT W CARLSTROM CO INC 1901 EXCEL DR MANKATO MN 56001 CONTRACTOR 2848945 PIONEER COLLEGE CATERERS 12351 W 96TH TERRACE SUITE 204 LENEXA KS 66215 FOOD SERVICE 966209 SECURITAS SECURITY SERVICES USA INC 5000 OLSON MEMORIAL HWY STE 200 MINNEAPOLIS MN 55422 SECURITY SERVICES 161016 ISG 115 E HICKORY ST STE 300 MANKATO MN 56001 ARCHITECT 120495 4 4928 589362 5658709 15000 6252999 TUITION AND FEES 611710 16751680 16751680 AUXILIARY ENTERPRISES 611710 2900808 2900808 STUDENT ACTIVITIES 611710 66251 66251 19718739 566568 566568 664350 664350 132540 84256 48284 48284 -4212 52496 15575113 15520636 54477 54477 54477 35063 4928 18234 16829 16829 OTHER INCOME 900099 618268 618268 618268 27940514 19718739 -4212 1972988 9565243 9565243 11728 11728 910951 205160 547623 158168 7536381 6336762 814000 385619 363115 270639 66794 25682 1296370 1133887 104814 57669 561049 439493 84374 37182 2205 2205 63720 63720 298335 298335 1848251 1807292 2994 37965 174022 110798 63224 652915 468421 181511 2983 326296 287421 37344 1531 1356741 1312698 34993 9050 671174 610020 30764 30390 124701 99790 12880 12031 228866 228866 2217958 2151147 66811 202484 131479 71005 REPAIR & MAINTENANCE 942830 925206 9601 8023 DUES & MEMBERSHIPS 80584 68176 3001 9407 BOOKS & SUBSCRIPTIONS 23721 22834 372 515 505032 501184 1924 1924 29964672 26688244 2435065 841363 807862 1850680 26706 23518 340327 351680 297447 247303 148240 150198 22524 42493 92743854 46987196 44831204 45756658 28551708 28651555 17805291 14604358 985744 6181855 93817053 97860298 2002966 1230004 51666 63325 10631438 18531498 1556850 1375349 14242920 21200176 X 38676720 36477019 40897413 40183103 79574133 76660122 93817053 97860298 X -2024158 -1183788 293935 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 1 113510 0 113510 0 PART II-B, LINE 1: AMOUNT ON PART II-B IS EQUAL TO THE TOTAL AMOUNT OF DUES PAID BY BETHANY LUTHERAN COLLEGE, INC. DURING THE FISCAL YEAR TO MINNESOTA PRIVATE COLLEGE COUNCIL, AN ASSOCIATION THAT SERVES A VARIETY OF ITS MEMBER'S SHARED NEEDS, INCLUDING, BUT NOT ONLY, NON-PARTISAN AND NON-ELECTORAL ADVOCACY FOR PUBLIC POLICY THAT MEETS STUDENTS' NEEDS AND ADVANCES THE INTEREST OF PRIVATE HIGHER EDUCATION, A PORTION OF THIS AMOUNT, BUT NOT ALL OF IT, SUPPORTED ATTEMPTS TO INFLUENCE LEGISLATION WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("LOBBYING"). 0 86645 X 0 44116580 1821811 -653074 2601790 665492 425452 41592583 44260290 2271984 1071264 2260217 809093 417648 44116580 43295521 1911552 3156241 1576974 1943648 582402 44260290 39853189 2371191 4047172 1476339 993665 506027 43295521 43004782 1799460 -1191206 2395454 898925 465468 39853189 0.00000 0.92000 0.08000 0 1 1 7072133 7072133 73420090 35810543 37609547 10457462 9820513 636949 1794169 1356140 438029 45756658 ALTERNATIVE INVESTMENTS 14604358 F 14604358 BENEFICIAL INTEREST IN FUNDS HELD IN TRUST 223045 BENEFICIAL INTEREST IN PERPETUAL TRUST 958810 RESTRICTED CASH - DEBT PROCEEDS FOR CAPITAL PROJECT 5000000 6181855 ANNUITIES PAYABLE 929313 DEPOSITS HELD IN CUSTODY FOR OTHERS 88125 DEPOSIT ACCOUNTS 173278 GOVERNMENT GRANTS REFUNDABLE 184633 1375349 X 17309611 -1183788 50000 126391 -1007397 18317008 298335 9325171 9623506 27940514 20223622 50000 84256 134256 20089366 298335 9576971 9875306 29964672 PART III, LINE 4: BETHANY LUTHERAN COLLEGE, AS A LIBERAL ARTS COLLEGE, ADVANCES THE KNOWLEDGE AND APPRECIATION OF THE ARTS THROUGH DIGITAL AND VISUAL MEDIA. ART WORK AND STATUES HELP ENHANCE OUR STUDENTS, FACULTY, STAFF, ALUMNI AND DONORS, AS WELL AS THE GREATER MANKATO COMMUNITY THROUGH THE COLLABORATION WITH THE TWIN RIVERS ART COUNCIL AND THEIR WALKING SCULPTURE TOUR TO PROMOTE THE APPRECIATION OF THE ARTS. PART V, LINE 4: BETHANY LUTHERAN COLLEGE'S ENDOWMENT FUNDS ARE USED TO FUND SCHOLARSHIPS TO STUDENTS, THE GENERAL OPERATIONS OF THE COLLEGE, AND OTHER SPECIAL PROJECTS SUCH AS FACULTY DEVELOPMENT, DEPARTMENTAL NEEDS, LIBRARY NEEDS AND ARCHIVE NEEDS. PART X, LINE 2: THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ACCORDING TO AN INTERNAL REVENUE SERVICE DETERMINATION LETTER. ACCORDINGLY, THE COLLEGE IS NOT SUBJECT TO FEDERAL INCOME TAXES EXCEPT TO THE EXTENT IT DERIVES INCOME FROM CERTAIN ACTIVITIES NOT SUBSTANTIALLY RELATED TO ITS TAX-EXEMPT PURPOSES (UNRELATED TRADE OR BUSINESS ACTIVITIES). THE COLLEGE HAD NO MATERIAL UNRELATED BUSINESS INCOME DURING THE YEAR. IT IS ALSO EXEMPT FROM STATE INCOME TAX. THE COLLEGE FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES 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. NO LIABILITY HAS BEEN RECOGNIZED BY THE COLLEGE FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2020 AND 2019. THE COLLEGE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON BENEFICIAL INTEREST IN FUNDS HELD IN TRUST -11,893. UNREALIZED LOSS ON BENEFICIAL INTEREST HELD IN PERPETUAL TRUST 208,004. DIRECT RENTAL EXPENSES 84,256. ACTUARIAL ADJUSTMENT -153,976. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 9,325,171. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 84,256. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND GRANTS 9,325,171. EMERGENCY GRANTS TO STUDENTS 251,800. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE USE OF THESE MEDIA FORMATS ARE PRIMARILY USED FOR EVENT RELATED ACTIVITIES. THE COLLEGE DOES NOT USE THEM TO SOLICIT STUDENTS FOR ENROLLMENT. SCHEDULE E, PART I, LINE 6 BETHANY LUTHERAN COLLEGE PARTICIPATES IN TITLE IV FINANCIAL AID PROGRAMS, SO MANY STUDENTS RECEIVE AID THROUGH FEDERAL AND STATE AGENCIES. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT ACTIVITIES 7913129 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENT ACTIVITIES 1912891 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 9228 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 2500 0 0 0 0 0 0 9837748 0 9837748 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 1 9228 APPLIED TO STUDENT ACCOUNT 0 EUROPE (INCLUDING ICELAND & GREENLAND) 1 2500 APPLIED TO STUDENT ACCOUNT 0 1 0 1 1 1 0 PART I, LINE 3: ACCRUAL METHOD PART III ACCOUNTING METHOD: SCHEDULE F, PART IV: LINE 1: THE COLLEGE HAS DIRECTLY INVESTED IN FOREIGN CORPORATIONS AND FILED THE REQUIRED FORMS 926 FOR THE TAX YEAR. LINE 3: THE COLLEGE HAS DIRECTLY INVESTED IN FOREIGN CORPORATIONS. HOWEVER, THE COLLEGE DOES NOT MEET THE FILING REQUIREMENTS OF FILING FORM 5471 FOR THE TAX YEAR. LINE 4: THE COLLEGE HAS DIRECTLY INVESTED IN A PASSIVE FOREIGN INVESTMENT COMPANY (PFIC). HOWEVER, THE PFIC DOES NOT CREATE ANY UNRELATED BUSINESS INCOME FOR THE COLLEGE TO REPORT. UNDER THESE FACTS, IT IS NOT NECESSARY FOR THE COLLEGE TO FILE FORM 8621. LINE 5: THE COLLEGE HAS DIRECTLY INVESTED IN FOREIGN PARTNERSHIPS. HOWEVER, THE COLLEGE DOES NOT MEET THE FILING REQUIREMENTS OF FILING FORM 8865 FOR THE TAX YEAR. MANKATO GOLF OUTING 39991 4928 35063 300 2545 6342 8171 876 39991 4928 35063 300 2545 6342 8171 876 18234 16829 1 SCHOLARSHIPS AND GRANTS PROVIDED AS FINANCIAL AID TO STUDENTS 601 9313443 EMERGENCY GRANTS TO STUDENTS 430 251800 PART I, LINE 2: BETHANY LUTHERAN COLLEGE OFFERS SCHOLARSHIPS AND GRANTS TO QUALIFIED STUDENTS TO HELP REDUCE THEIR OUT OF POCKET TUITION COSTS. STUDENTS RECEIVING FINANCIAL ASSISTANCE OF THIS FORM MUST MEET SPECIFIC CRITERIA SUCH AS ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS WHETHER PUT IN PLACE BY THE COLLEGE OR BY DONORS OF RESTRICTED FUNDS. THESE AWARDS ARE MONITORED AND AWARDED BY THE DIRECTOR OF FINANCIAL AID. PART III, EMERGENCY GRANTS TO STUDENTS: EMERGENCY GRANTS TO STUDENTS REPRESENTS THE HIGHER EDUCATION RELIEF FUNDING PROVIDED BY THE CARES ACT FOR DIRECT DISTRIBUTION TO STUDENTS. X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 DR GENE R PFEIFER COLLEGE PRESIDENT 156234 0 0 0 1857 0 16560 0 30321 0 204972 0 0 0 PART I, LINE 1A DR. GENE PFEIFER, PRESIDENT - TRAVEL FOR COMPANIONS - THE PRESIDENT'S WIFE TRAVELS WITH THE PRESIDENT ON SEVERAL DIFFERENT OCCASIONS. SHE RECEIVES A STIPEND FOR THE TRAVEL AND IT IS COUNTED AS PART OF HER DUTIES TO TRAVEL WITH THE PRESIDENT, AS NEEDED. NOT INCLUDED IN TAXABLE COMPENSATION. DR. GENE PFEIFER, PRESIDENT - HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE AND PERSONAL SERVICES - THE PRESIDENT IS PROVIDED HOUSING AS PART OF HIS BENEFIT PACKAGE. MAID SERVICE IS PROVIDED FOR THIS RESIDENCE. NOT INCLUDED IN TAXABLE COMPENSATION. ARTHUR WESTPHAL, VP OF ADVANCEMENT - HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES - THE VP FOR ADVANCEMENT HAS A MEMBERSHIP AT THE MANKATO GOLF CLUB FOR BUSINESS PURPOSES ONLY. THE MEMBERSHIP IS USED FOR BETHANY LUTHERAN COLLEGE BUSINESS, ENTERTAINING DONORS AND OTHER CLIENTS. INCLUDED IN TAXABLE COMPENSATION. 105256 INSTITUTIONAL AID ACADEMIC PERFORMANCE AND NEED BASED SCHOLARSHIPS FORM 990, PART VI, SECTION A, LINE 6 THE COLLEGE'S MEMBERSHIP CONSISTS OF THOSE CONGREGATIONS AND INDIVIDUALS WHO SUBSCRIBE TO THE CONSTITUTION OF THE EVANGELICAL LUTHERAN SYNOD AND HAVE BEEN ACCEPTED INTO MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE EVANGELICAL LUTHERAN SYNOD DELEGATES HAVE THE AUTHORITY OR RIGHT TO ELECT MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B THE ARTICLES, BYLAWS AND GUIDELINES OF THE COLLEGE MAY BE AMENDED BY VOTE OF THE MEMBERS OF THE COLLEGE, PROVIDED THAT NOTICE OF THE PROPOSED AMENDMENT HAS BEEN GIVEN IN THE BOOK OF REPORTS AND MEMORIALS OR THE CONVENTION HANDBOOK. AMENDMENTS BECOME EFFECTIVE UPON APPROVAL BY THE CONVENTION AND FILING WITH THE STATE OF MINNESOTA. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE FINANCE AND AUDIT COMMITTEE AT THEIR FEBRUARY MEETING EACH YEAR. AFTER THE FORM 990 IS REVIEWED BY THE FINANCE AND AUDIT COMMITTEE, THE REDACTED PUBLIC DISCLOSURE COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF REGENTS FOR REVIEW PRIOR TO THE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS THE BOARD OF REGENTS, COMMITTEE MEMBERS, EX-OFFICIO MEMBERS AND SENIOR ADMINISTRATION, INCLUDING THE SEMINARY PRESIDENT. ANNUALLY THE FULL BOARD OF REGENTS IS ASKED TO READ AND SIGN THE CONFLICT OF INTEREST POLICY. CONFLICTS ARE DETERMINED BY THE BOARD OF REGENTS WHO DO NOT HAVE A CONFLICT OR AT THE CABINET LEVEL, WHERE APPROPRIATE. THE REGENT WITH THE POTENTIAL CONFLICT OF INTEREST ABSTAINS FROM PARTICIPATING IN THE DISCUSSIONS AND VOTING ON THE CONFLICT. PROCEEDINGS RESULTING FROM POTENTIAL AND ACTUAL CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 DANIEL L. MUNDAHL, SENIOR VP OF FINANCE & ADMINISTRATION, GATHERED INFORMATION FROM THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION, THE CHRONICLE OF HIGHER EDUCATION AND FROM THE MINNESOTA PRIVATE COLLEGE COUNCIL FOR COMPARISONS USING THE MEDIAN MEASURE AND LOOKING AT COLLEGES OF SIMILAR SIZE AND PURPOSE. THIS INFORMATION IS PROVIDED TO THE EXECUTIVE COMMITTEE WHO REVIEWS, EVALUATES, AND DETERMINES COMPENSATION FOR THE PRESIDENT. THE EXECUTIVE COMMITTEE DOCUMENTS IN MINUTES THAT ARE RETAINED BY THE BOARD CHAIR. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN MAY, 2020. THE PRESIDENT AND SENIOR VP OF FINANCE & ADMINISTRATION DETERMINE COMPENSATION FOR OTHER OFFICERS USING THE INFORMATION GATHERED FOR THE PRESIDENT'S COMPENSATION DETERMINATION PROCESS. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN MAY, 2020. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENT -153,976. UNREALIZED GAIN ON BENEFICIAL INTEREST IN FUNDS HELD IN TRUST -11,893. UNREALIZED LOSS ON BENEFICIAL INTEREST HELD IN PERPETUAL TRUST 208,004. EMERGENCY GRANTS TO STUDENTS 251,800. FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS OF THE AUDIT HAS NOT CHANGED FROM PRIOR YEAR. EVANGELICAL LUTHERAN SYNOD 6 BROWNS COURT MANKATO MN 56001 237181739 RELIGIOUS NOT-FOR-PROFIT MN 501(C)(3) LINE 1 N/A 0 CHARITABLE REMAINDER UNITRUST (4) CHARITABLE TRUST MN N/A T 1 0 0 1 0 0 0 0 0 0 0 1 0 1 1 1 0 1 0 0