2015-10-29T09:42:41-05:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2014-01-01 410711588 ECUMEN ECUM 6517664300 3530 LEXINGTON AVENUE NORTH SHOREVIEW MN 55126 DENNIS JOHNSON CFO & SENIOR VICE PRESIDENT 6517664300 2015-10-21 1 KURT BENNION P01469618 6123764500 2014 2016-02-25 16:41:14Z KATHRYN ROBERTS 3530 LEXINGTON AVENUE NORTH SHOREVIEW MN 55126 158428084 1 0 9386 X WWW.ECUMEN.ORG X 1923 MN WE CREATE HOMES FOR OLDER ADULTS, WHEREVER THEY CHOOSE TO LIVE. 14 14 3660 1520 0 0 5659867 3935527 138900293 138286181 612796 896845 -5681974 -137664 139490982 142980889 62901 141864 0 0 75637418 75063389 0 0 472763 66882169 66415593 142582488 141620846 -3091506 1360043 297602186 292057016 257386658 250011679 40215528 42045337 WE CREATE HOMES FOR OLDER ADULTS, WHEREVER THEY CHOOSE TO LIVE. 0 0 128227125 141864 138286181 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, 2014, ECUMEN AND ITS AFFILIATES OWNED OR LEASED 50 HEALTH CARE AND OTHER FACILITIES, INCLUDING 10 U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SUBSIDIZED HOUSING PROJECTS. AN ADDITIONAL 21 HEALTH CARE AND OTHER FACILITIES WERE MANAGED FOR UNRELATED THIRD-PARTY OWNERS. 128227125 1 1 0 1 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 443 0 3660 1 0 0 0 0 0 1 1 0 0 0 0 X 14 14 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 MN X DENNIS JOHNSON 6517664300 3530 LEXINGTON AVENUE NORTH SHOREVIEW MN 55126 ROBERT KARRICK CHAIR 1.00 0.00 X X 0 0 0 ROBERT HOFFMAN VICE CHAIR 1.00 0.00 X X 0 0 0 REVEREND KRISTINE LINNER SECRETARY 1.00 0.00 X X 0 0 0 GAIL OLSON TREASURER 1.00 0.00 X X 0 0 0 LYNN ANDERSON DIRECTOR 1.00 0.00 X 0 0 0 ANN BARKELEW DIRECTOR 1.00 0.00 X 0 0 0 DEBBIE CERVENKA DIRECTOR 1.00 0.00 X 0 0 0 ROBERTA CORDANO DIRECTOR 1.00 0.00 X 0 0 0 LISA DEVERELL DIRECTOR 1.00 0.00 X 0 0 0 KEITH HALLELAND DIRECTOR 1.00 0.00 X 0 0 0 OLIVIA MASTRY DIRECTOR 1.00 0.00 X 0 0 0 RICHARD OLSON DIRECTOR 1.00 0.00 X 0 0 0 JOHN PETRABORG DIRECTOR 1.00 0.00 X 0 0 0 ANNE SIMPSON DIRECTOR 1.00 0.00 X 0 0 0 DARRELL TUKUA DIRECTOR 1.00 0.00 X 0 0 0 NANCY THOMPSON ULVESTAD DIRECTOR 1.00 0.00 X 0 0 0 KATHRYN ROBERTS PRESIDENT & CEO 39.00 1.00 X 425441 0 72841 DENNIS JOHNSON CFO & SENIOR VP 39.00 1.00 X 331806 0 60336 ROBIN BALCK SR VP HR & STRATEGIC ALIGNMENT 40.00 0.00 X 197131 0 24423 LARRY JORGENSEN VP OF INFORMATION TECHNOLOGY 40.00 0.00 X 169709 0 17260 SHELLEY KENDRICK VP OF OPERATIONS 39.00 1.00 X 184953 0 38360 JULIE MURRAY VP OF MARKETING & DEVELOPMENT 40.00 0.00 X 174663 0 15608 ERIC SCHUBERT VP OF STRATEGIC INITIATIVES 40.00 0.00 X 164598 0 13441 JUDY BLASEQ VP OF PHILANTHROPY 40.00 0.00 X 147576 0 16425 PAUL LIBBON REGIONAL DIRECTOR 40.00 0.00 X 145305 0 16596 CYNTHIA MOWAN VP OF FINANCE 39.00 1.00 X 136928 0 24758 CAROL KVIDT REGIONAL DIRECTOR 40.00 0.00 X 136678 0 27901 2214788 0 327949 26 0 1 0 HENRICKSEN & COMPANY 1070 W ARDNIRE AVE ITASCA IL 60143 CONSTRUCTION 784205 CLIFTONLARSONALLEN LLP 220 S 6TH ST STE 300 MINNEAPOLIS MN 55402 AUDIT & TAX 385574 GRAY PLANT MOOTY & BENNETT 80 S 8TH ST STE 500 MINNEAPOLIS MN 55402 LEGAL 370113 JG HOUSE CONSTRUCTION PO BOX 206 BAYPORT MN 55003 CONSTRUCTION 328469 LINCOLN WASTE 580 COTTAGE GROVE RD BLOOMFIELD CT 06002 TRASH COLLECTION 265041 8 41392 112493 1629979 2151663 6120 3935527 ASSISTED LIVING FEES 623000 68310149 68310149 NURSING REVENUE 623000 65777720 65777720 MANAGEMENT FEES 541610 2122452 2122452 MEAL FEES 722210 725142 725142 TRANSPORTATION REVENUE 623000 694481 694481 656237 656237 138286181 592374 592374 123300 0 123300 123300 123300 15697322 24717 15259876 157692 437446 -132975 304471 304471 9804 112493 29627 -19823 -19823 87128 0 87128 87128 CAFE/CATERING REVENUES 722320 511929 511929 MISCELLANEOUS 900099 504357 504357 FACILITY USE FEES 713940 177419 177419 -1521974 -1521974 -328269 142980889 138286181 0 759181 92429 92429 49435 49435 1874218 187422 1686796 57670867 53068417 4284199 318251 1452416 1194594 243515 14307 9230899 8643422 576394 11083 4834989 4391438 421684 21867 5322631 5322631 177928 119904 52237 5787 176660 17666 158994 14124317 13197591 892939 33787 710152 608285 87648 14219 1166644 877067 279811 9766 7850969 6925820 925149 1078842 889276 179886 9680 608469 411940 171857 24672 9332533 8281850 1050683 10738111 9281196 1456915 1027131 825439 201692 RESIDENT CARE SUPPLIES 9635349 9635349 SURCHARGE 1749496 1749496 EQUIP. RENTAL & MAINT. 1182461 1008587 171954 1920 BAD DEBT EXPENSE 628243 623877 4366 905657 823994 78605 3058 141620846 128227125 12920958 472763 15436857 14685632 3626816 2210327 12058837 12624601 660909 689707 14014 16250 986708 610029 310972087 97855999 209420455 213116088 24533336 27360380 2834301 2681623 649143 649125 5692437 5632418 21688373 11780836 297602186 292057016 14361490 14000974 528543 200356 147555453 100270868 126972 183386 91516353 132540983 3297847 2815112 257386658 250011679 X 32751868 36527608 3780565 1867311 3683095 3650418 40215528 42045337 297602186 292057016 X 1360043 453106 16660 X 0 1 X 1 0 X 2164152 2908487 2387462 5659867 3935527 17055495 122561527 136730832 142022061 138900293 138286180 678500893 124725679 139639319 144409523 144560160 142221707 695556388 0 0 0 695556388 723775 762798 1019793 728737 715674 3950777 723775 762798 1019793 728737 715674 3950777 393041 340039 1067745 1172940 1290627 4264392 125842495 140742156 146497061 146461837 144228008 703771557 0.98830 0.98940 0.00560 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 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 12500 12500 0 PART II-B, LINE 1: ECUMEN PAID $176,559 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 BEEN PROVIDED TO ECUMEN. 0 1 X 7463660 1578164 -52676 3471417 5517731 4034189 3441957 206028 218514 7463660 4242534 453360 133602 795307 4034189 4571333 615355 -205226 738928 4242534 3780013 1020634 223079 452393 4571333 0.00000 0.66000 0.34000 1 0 13940262 13940262 257770904 79844020 177926884 26612217 18011979 8600238 12648704 12648704 213116088 ASSET RETIREMENT OBLIGATIONS 166333 INSURANCE CLAIMS RESERVES 2648779 2815112 X PART IV, LINE 2B: ECUMEN HOLDS IN TRUST SECURITY DEPOSIT AMOUNTS RECEIVED BY TENANTS OF THE PROJECT UPON MOVE-IN. TENANT SECURITY DEPOSITS ARE MAINTAINED IN AN INTEREST- BEARING SAVNGS ACCOUNT SEPARATE FROM ECUMEN'S OPERATING ACCOUNT. WITHDRAWLS ARE RESTRICTED TO REIMUBURSEMENTS OF TENANT'S SECURITY DEPOSITS. 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, 2014 OR DECEMBER 31, 2013. THE ORGANIZATION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2011 TO 2013 ARE OPEN TO EXAMINATION BY FEDERAL, LOCAL, AND STATE AUTHORITIES. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. DINNER 59506 56276 3230 50 3230 2375 GOLF TOURNAMENT 41850 38829 3021 16608 3021 101356 95105 6251 50 16608 6251 2375 25284 -19033 1 LEADINGAGE 2519 CONNECTICUT AVE NW WASHINGTON DC 20008 136213525 501(C)(3) 12500 LONG-TERM SERVICE AND SUPPORT LAMPLIGHTER MANOR 3530 LEXINGTON AVE N SHOREVIEW MN 55126 411772945 501(C)(3) 79929 GENERAL OPERATING SUPPORT 2 0 EDUCATION GRANTS 10 7466 EMPLOYEE ASSISTANCE 6 5000 SCHOLARSHIPS 21 36969 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. 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 404318 0 17060 0 4063 0 51643 0 21198 0 498282 0 0 0 DENNIS JOHNSON CFO & SENIOR VP 315946 0 12842 0 3018 0 40807 0 19529 0 392142 0 0 0 ROBIN BALCK SR VP HR & STRATEGIC ALIGNMENT 189980 0 5921 0 1230 0 21320 0 3103 0 221554 0 0 0 LARRY JORGENSEN VP OF INFORMATION TECHNOLOGY 165650 0 3548 0 511 0 15573 0 1687 0 186969 0 0 0 SHELLEY KENDRICK VP OF OPERATIONS 179537 0 4809 0 607 0 19117 0 19243 0 223313 0 0 0 JULIE MURRAY VP OF MARKETING & DEVELOPMENT 170650 0 3343 0 670 0 14137 0 1471 0 190271 0 0 0 ERIC SCHUBERT VP OF STRATEGIC INITIATIVES 154196 0 3518 0 6884 0 12141 0 1300 0 178039 0 0 0 JUDY BLASEQ VP OF PHILANTHROPY 137312 0 1460 0 8804 0 13556 0 2869 0 164001 0 0 0 PAUL LIBBON REGIONAL DIRECTOR 135496 0 3006 0 6803 0 11444 0 5152 0 161901 0 0 0 CYNTHIA MOWAN VP OF FINANCE 133207 0 2932 0 789 0 12905 0 11853 0 161686 0 0 0 CAROL KVIDT REGIONAL DIRECTOR 126542 0 2942 0 7194 0 11735 0 16166 0 164579 0 0 0 PART I, LINES 4B-C SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: KATHRYN ROBERTS - 457(F) - $17,500 DENNIS JOHNSON - 457(F) - $17,500 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. BONUSES WERE EARNED IN 2013 AND WERE PAID IN 2014. BONUSES WERE EARNED IN 2014 AND WILL BE PAID IN 2015. A CITY OF OWATONNA MN 416005444 690562AA1 2003-06-30 4120000 REFINANCING 0 0 0 B CITY OF PINE CITY MN 416005456 722518AA5 2006-04-27 8100000 PURCHASE OF FACILITIES 0 0 0 C CITY OF PARK RAPIDS MN 416005449 700728AK4 2006-10-24 5575000 NEW CONSTRUCTION 0 0 0 D CITY OF WORTHINGTON MN 416005656 98185TAD9 2007-05-14 7060000 REFINANCING 0 0 0 A 1430000 4120000 3841720 278280 2003 1 0 1 1 B 1000000 8100000 302750 7797250 2006 0 0 1 1 C 816250 5575000 376010 210062 4988928 2007 0 0 1 1 D 760000 7060000 475788 6311250 235629 37333 2007 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: 04/14/2011 ISSUER NAME: CITY OF PARK RAPIDS, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 07/31/2011 ISSUER NAME: CITY OF WORTHINGTON, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 04/30/2012 ISSUER NAME: CITY OF CHISAGO CITY, MN DATE THE REBATE COMPUTATION WAS PERFORMED: 07/31/2012 A CITY OF CHISAGO CITY MN 416005046 170121AP2 2007-11-15 6185000 NEW CONSTRUCTION 0 0 0 B CITY OF APPLE VALLEY MN 410847612 03789WAE0 2010-03-29 5545000 NEW CONSTRUCTION 0 0 0 C CITY OF MAPLEWOOD MN 416008920 565566AE6 2010-07-01 5875000 NEW CONSTRUCTION 0 0 0 D CITY OF LAKE CRYSTAL MN 416005294 509530BG5 2010-08-10 6865000 NEW CONSTRUCTION 0 0 0 A 440000 6185000 420642 337992 226366 5200000 2008 0 0 1 1 B 290000 5545000 430681 223400 4890919 2011 0 0 1 1 C 345000 5875000 433858 2298710 260945 2881487 2010 0 0 1 1 D 225000 6865000 508849 419720 334050 550000 5052381 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 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 LAKES AREA ECONOMIC DEVELOPMENT AUTHORITY 200299143 2011-09-14 9320000 REFINANCING 0 0 0 B CITY OF MOORHEAD MN 416005386 61615CAB8 2012-09-27 10140000 REFINANCING 0 0 0 C MOORHEAD ECONOMIC DEVELOPMENT AUTHORITY MN 411671510 61615JAR8 2012-09-27 10000000 REFINANCING 0 0 0 D HOUSING AND REDEVELOPMENT AUTHORITY OF DULUTH MN 416006975 2012-09-28 8300000 REFINANCING 0 0 0 A 565265 9320000 5909645 102726 3307629 2012 1 0 0 1 B 1040000 10140000 9894077 245923 2012 1 0 1 1 C 10000000 9757473 242527 2012 1 0 1 1 D 481399 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 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 LAKE COUNTY HOUSING AND REDEVELOPMENT AUTHORITY MN 411563472 2012-09-28 9140000 REFINANCING 0 0 0 B TOWN OF RICE LAKE MN 416005489 2012-09-28 5560000 REFINANCING 0 0 0 C CITY OF FALCON HEIGHTS MN 416007644 2013-01-04 4400000 REFINANCING 0 0 0 D CITY OF CHISAGO CITY MN 416005046 17012CAR4 2013-07-25 18520000 REFINANCING 0 0 0 A 530158 9140000 8792485 169700 177815 2012 1 0 1 1 B 322503 5560000 5348602 103231 108167 2012 1 0 1 1 C 227429 4400000 4330395 69605 2013 1 0 1 1 D 290000 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 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 ST CLAIR MN 416007794 363651LZ1 2013-07-30 9125000 REFINANCING 0 0 0 B CITY OF DETROIT LAKES MN 416005098 2013-08-01 2670748 REFINANCING 0 0 0 C CITY OF WORTHINGTON MN 416005656 98185QAX1 2014-05-21 6385000 REFINANCING 0 0 0 D CITY OF NORTH BRANCH MN 416005421 2014-11-25 4075000 REFINANCING 0 0 0 A 406360 9125000 9013939 111061 2013 1 0 1 1 B 97741 2670748 2635370 35379 2013 1 0 1 1 C 95000 6385000 6198840 186160 2014 1 0 1 1 D 23365 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 0 0 0 B CITY OF OWATONNA MN 416005444 690558AL5 2014-12-18 6797665 REFINANCING 0 0 0 A 8316913 8067611 249302 2014 1 0 1 1 B 6797665 6593903 203762 2014 0 1 1 1 A 1 0 0 0 0 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 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 11 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 2014. THE PRESIDENT/CEO REVIEW IS COMPLETED ANNUALLY AND WAS LAST COMPLETED IN 2014. 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 -52,675. PATHSTONE NET INCOME 69,335. 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