2026-01-22T10:49:31-06:00 2025-05-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2024-06-01 410708577 BETHEL UNIVERSITY BETH 6516386208 3900 BETHEL DRIVE ST PAUL MN 551126999 JOEL COSTA CFO & VP OF OPERATIONS 6516386208 2026-01-22 1 0 ANN NEIL P01817922 6123764500 2026-01-22 2024 2025-03-06 01:10:19Z ROSS ALLEN 3900 BETHEL DRIVE ST PAUL MN 551126999 160693857 0 X WWW.BETHEL.EDU X 1996 MN TO EDUCATE AND ENERGIZE MEN AND WOMEN FOR EXCELLENCE IN LEADERSHIP, SCHOLARSHIP AND SERVICE. 29 28 2223 30 31836 0 14087780 23678802 110160731 109980707 2882886 5300251 4688 -477044 127136085 138482716 36939339 37354423 0 0 51232897 51275932 0 0 1982691 36986492 43631265 125158728 132261620 1977357 6221096 235708441 251026001 75346676 78878579 160361765 172147422 X WE EDUCATE AND EQUIP STUDENTS TO LEAD LIVES OF IMPACT THROUGH TRANSFORMATIVE ACADEMICS IN A CHRIST-CENTERED COMMUNITY. 0 0 64663555 37188818 94771219 EDUCATIONAL INSTRUCTION:COLLEGE OF ARTS & SCIENCES (LIBERAL ARTS, UNDERGRADUATE): 2,295 STUDENTS; GRADUATE SCHOOL AND COLLEGE OF ADULT & PROFESSIONAL STUDIES (ADULT DEGREE COMPLETION): 815 GRADUATE STUDENTS AND 232 UNDERGRADUATE STUDENTS;BETHEL SEMINARY: 284 STUDENTS 19942925 0 65279 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. 11995346 0 15128018 AUXILIARY SERVICES:SERVICES INCLUDING BUT NOT LIMITED TO: STUDENT HOUSING, FOOD SERVICE, CAMPUS STORE. 816765 165605 0 FOUNDATION SUPPORT 816765 165605 0 97418591 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 1 0 1 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 4407 0 1 2223 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 28 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 MN CA X JOEL COSTA 6516386208 3900 BETHEL DRIVE ST PAUL MN 55112 ROSS ALLEN PRESIDENT 40.00 1.00 X X 350639 0 30923 ALAN JOHNSON CHAIR 5.00 0.00 X X 0 0 0 ANDREA SCHILLING VICE-CHAIR 5.00 0.00 X X 0 0 0 RANDY DORN TREASURER 5.00 0.00 X X 0 0 0 LINDA GOODWIN SECRETARY 5.00 1.00 X X 0 0 0 MICHAEL BROCKER TRUSTEE 5.00 0.00 X 0 0 0 LESLIE CHAPMAN TRUSTEE 5.00 1.00 X 0 0 0 JIM GREEN TRUSTEE 5.00 0.00 X 0 0 0 WAYNE JOHNSON TRUSTEE 5.00 0.00 X 0 0 0 RONN KREPS TRUSTEE 5.00 0.00 X 0 0 0 JOEL LAWRENCE TRUSTEE 5.00 0.00 X 0 0 0 DANIEL LINDH TRUSTEE 5.00 0.00 X 0 0 0 DAWN MARCUS TRUSTEE 5.00 0.00 X 0 0 0 LAURA MCKNIGHT TRUSTEE 5.00 1.00 X 0 0 0 CHRIS MEIDT TRUSTEE 5.00 0.00 X 0 0 0 STEPHANIE WILLIAMS O'BRIEN TRUSTEE 5.00 0.00 X 0 0 0 KRISTI PIEHL TRUSTEE 5.00 0.00 X 0 0 0 GEORGE SOLTERO TRUSTEE 5.00 0.00 X 0 0 0 ANN TSCHETTER 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 GASBY BROWN TRUSTEE 5.00 0.00 X 0 0 0 SERGIO AMEZCUA TRUSTEE 5.00 0.00 X 0 0 0 DAVID EDGERTON JR TRUSTEE 5.00 0.00 X 0 0 0 LAMARR LARK TRUSTEE 5.00 0.00 X 0 0 0 JOHN K JENKINS TRUSTEE 5.00 0.00 X 0 0 0 KEN NABI TRUSTEE 5.00 0.00 X 0 0 0 STACIE STANLEY TRUSTEE 5.00 0.00 X 0 0 0 WENDY ULFRETS TRUSTEE 5.00 0.00 X 0 0 0 JON WICKLUND TRUSTEE 5.00 0.00 X 0 0 0 ROBIN RYLAARSDAM UNIVERSITY PROVOST 40.00 0.00 X 174519 0 14951 JEANNE OSGOOD CHIEF OF STAFF 40.00 0.00 X 139375 0 39453 JOEL COSTA CFO & VP FINANCE & OPERATIONS 40.00 1.00 X 161496 0 36316 MICHAEL FREER CHIEF HUMAN RESOURCES OFFICER 40.00 0.00 X 156533 0 39809 PAUL MCGINNIS VP OF MARKETING & ENROLLMENT 40.00 0.00 X 150679 0 22588 RAHN FRANKLIN VP OF DIVERSITY, EQUITY, & INCLUSION 40.00 0.00 X 174519 0 35806 CHUCK BROZ HVAC, PLUMBING & ELECTRIC SUPERVISOR 40.00 0.00 X 151405 0 39599 CYNTHIA GOETZ PHYSICIAN ASSISTANT PROGRAM DIRECTOR 40.00 0.00 X 141014 0 26474 MARK HINTZ VP OF TRANSFORMATIONAL GIVING 40.00 0.00 X 158149 0 36306 1758328 0 322225 48 0 1 0 SODEXO AMERICA LLC 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICE MANAGEMENT 6119300 DYNAMIC CAMPUS SOLUTIONS INC 2806 FLINTROCK TRACE STE A205 AUSTIN TX 78738 ITS MANAGEMENT 3857782 MODERN CLIMATE LLC 515 WASHINGTON AVE N STE 200 MINNEAPOLIS MN 55401 MARKETING 2696657 METROPOLITAN MECHANICAL CONTRACTORS 7450 FLYING CLOUD DRIVE EDEN PRAIRIE MN 55344 CONSTRUCTON/REMODELING 1101979 SLINGSHOT LP 1500 S WESTERN AVE MARION IN 46953 CAMPUS STORE MANAGEMENT 937678 53 1812266 585382 1523737 19757417 4733926 23678802 TUITION & FEES 611600 91334804 91334804 AUXILIARY SERVICES 611710 15144209 15128018 16191 OTHER STUDENT FEES 611710 3501694 3501694 109980707 2435631 2435631 20631 4986 15645 15645 15645 24493546 21628926 2864620 2864620 2864620 84540 1812266 577229 -492689 -492689 138482716 109964516 31836 4807562 165605 165605 37167710 37167710 21108 21108 1310941 339689 764700 206552 37942121 28844672 8461653 635796 728454 562752 152686 13016 8592695 6693731 1771193 127771 2701721 2018123 628208 55390 542572 2355 540217 96049 96049 145744 145744 10007894 3581644 6052306 373944 4093275 514302 3482546 96427 2908134 1461587 1411608 34939 2454019 393656 1980702 79661 2448960 660975 1787985 2897682 2262598 382717 252367 2536590 2054638 481952 5260415 4260936 999479 1187761 1187761 DUES MEMBERSHIP & LICEN 5062552 5062552 SPECIAL EDUCATION EXPEN 3636916 1327394 2202694 106828 INVENTORY WRITE DOWN 301306 301306 REPAIRS & MAINTENENCE 51396 22564 28832 132261620 97418591 32860338 1982691 9021443 5375962 1465666 191391 1421454 4991175 4412988 10021280 821774 433157 1034400 1174943 240427948 132598809 108714440 107829139 89896821 100114927 18918402 20079454 1053 5910 0 808663 235708441 251026001 3630532 4006460 2432246 2296361 47513177 47384530 2800000 21770721 22391228 75346676 78878579 X 44391310 46460935 115970455 125686487 160361765 172147422 235708441 251026001 X 6221096 5417463 147098 X X 0 1 X 1 1 1 X 16363024 47702138 11483339 14087780 23678802 113315083 16363024 47702138 11483339 14087780 23678802 113315083 47291557 66023526 344747 1388318 1200417 1736751 2435631 7105864 14001 22844 36845 120457792 564741200 0.54810 0.53890 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - SPECIAL EVENTS - 2020 AMOUNT: $ 14,001. 2021 AMOUNT: $ 22,844. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 0 0 1 145744 145744 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 $ 145,744.00 DURING THE FISCAL YEAR. X X 0 109281103 2106783 10478905 4264640 117602151 89862596 8510450 14847321 3939264 109281103 92871511 2188105 554944 1377689 4374275 89862596 64840524 34385307 -3750197 1395928 1009435 198760 92871511 48774844 1992364 16393773 1262238 928280 129939 64840524 0.08590 0.70421 0.20989 0 1 1 2097758 2097758 180804275 86610159 94194116 17989846 11060360 6929486 37892416 34928290 2964126 1643653 1643653 107829139 HEDGE FUND INVESTMENTS 20079454 F 20079454 GIFT ANNUITY CONTRACTS 1216048 PENSION LIABILITY 19276483 LIABILITY FOR SELF-INSURANCE 155024 OTHER LIABILITIES 514516 PERKINS LOAN REFUNDABLE 49184 CAPITAL LEASE 1179973 22391228 X 104776355 5417463 -1935006 3482457 101293898 37188818 37188818 138482716 95655017 582215 582215 95072802 37188818 37188818 132261620 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 (IRS) 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 CONSOLIDATED FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. ROYALS INVESTMENT FUND LLC IS NOT A TAXPAYING ENTITY. NO INCOME TAXES HAVE BEEN PROVIDED AT THE PARTNERSHIP LEVEL SINCE THE PARTNERS ARE INDIVIDUALLY LIABLE FOR THE TAXES ON THEIR SHARE OF THE PARTNERSHIP'S INCOME OR LOSS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 577,229. CHANGE IN GIFT ANNUITIES 158,824. RENTAL EXPENSES 4,986. CHANGE IN PENSION LIABILITY -11,728. CHANGE IN NONCONTROLLING INTEREST 147,154. FOUNDATION'S REVENUE -2,811,471. PART XI, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONALLY FUNDED AID 37,188,818. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 577,229. RENTAL EXPENSES 4,986. PART XII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONALLY FUNDED AID 37,188,818. 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. 1 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS N/A 13131862 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS N/A 6400583 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 GRANT MAKING N/A 20108 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 GRANT MAKING N/A 1000 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS 39277 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS 249430 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS 400316 0 0 0 0 0 0 20242576 0 20242576 STUDENT FINANCIAL AID AND WORKSTUDY SOUTH ASIA 1 20108 CHECK 0 N/A FMV STUDENT FINANCIAL AID AND WORKSTUDY EAST ASIA AND THE PACIFIC 1 1000 CHECK 0 N/A FMV 1 0 0 0 0 0 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. PART I, LINE 3: ACCRUAL METHOD PRESIDENT'S VISION WEEKEND 1575000 1496720 78280 127848 97557 34500 290330 MN ALUMNI DINNER 200795 198695 2100 2082 17400 1 121011 116851 4160 5000 2512 1896806 1812266 84540 132848 99639 34500 310242 577229 -492689 1 BETHEL UNIVERSITY FOUNDATION 3900 BETHEL DRIVE ST PAUL MN 55112 237094836 501(C)(3) 165605 0 N/A N/A GENERAL OPERATING 1 0 SCHOLARSHIPS & FINANCIAL AID 1971 37167710 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. THE UNIVERSITY ALSO REIMBURSES THE FOUNDATION FOR PAYROLL, AUDIT, AND OPERATIONAL EXPENSES DURING THE YEAR. X X X 0 0 0 0 0 0 0 0 0 ROSS ALLEN PRESIDENT 348326 0 0 0 2313 0 7110 0 23813 0 381562 0 0 0 RAHN FRANKLIN VP OF DIVERSITY, EQUITY, & INCLUSION 174415 0 0 0 104 0 2924 0 32882 0 210325 0 0 0 JOEL COSTA CFO & VP FINANCE & OPERATIONS 160546 0 0 0 950 0 3400 0 32916 0 197812 0 0 0 MICHAEL FREER CHIEF HUMAN RESOURCES OFFICER 155914 0 0 0 619 0 3400 0 36409 0 196342 0 0 0 MARK HINTZ VP OF TRANSFORMATIONAL GIVING 157935 0 0 0 214 0 3392 0 32914 0 194455 0 0 0 CHUCK BROZ HVAC, PLUMBING & ELECTRIC SUPERVISOR 151304 0 0 0 101 0 3312 0 36287 0 191004 0 0 0 ROBIN RYLAARSDAM UNIVERSITY PROVOST 173860 0 0 0 659 0 3546 0 11405 0 189470 0 0 0 JEANNE OSGOOD CHIEF OF STAFF 139089 0 0 0 286 0 3068 0 36385 0 178828 0 0 0 PAUL MCGINNIS VP OF MARKETING & ENROLLMENT 150384 0 0 0 295 0 3129 0 19459 0 173267 0 0 0 CYNTHIA GOETZ PHYSICIAN ASSISTANT PROGRAM DIRECTOR 140486 0 0 0 528 0 2986 0 23488 0 167488 0 0 0 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 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 0 0 0 0 1 A 1 X 12 193581 STOCK MARKET QUOTES X 2 4504967 FMV X EQUIPMENT 6 18013 FMV X PHOTOGRAPHY EQUIPMENT 1 9365 FMV X PIANO 1 8000 FMV 0 0 1 0 PART I, COLUMN (B): COLUMN (B) IS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1A 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 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 2024. 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 158,826. CHANGE IN PENSION LIABILITY -11,728. 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 INVESTMENT FUND MN BETHEL UNIVERSITY INVESTMENT INCOME 0 1 0 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 BETHEL UNIVERSITY FOUNDATION N 165605 FMV BETHEL UNIVERSITY FOUNDATION C 582382 FMV