| FORM 990, PART VI, SECTION A, LINE 1 |
THE EXECUTIVE COMMITTEE INCLUDES ONE MEMBER OF THE BOARD WHO IS NOT A STAFF MEMBER, TOGETHER WITH THE CHAIRMAN, VICE-CHAIRMAN, EXECUTIVE DIRECTOR AND THE CHAIRMAN OF THE INVESTMENT COMMITTEE. AT LEAST ONE MEMBER OF THE EXECUTIVE COMMITTEE SHOULD BE A MEMBER OF THE BOARD OF TRUSTEES OF BETHEL UNIVERSITY. THE EXECUTIVE COMMITTEE HAS POWER AND AUTHORITY BETWEEN BOARD MEETINGS AS ARE DELEGATED TO IT BY THE BOARD OF GOVERNORS. |
| FORM 990, PART VI, SECTION A, LINE 7A |
ACCORDING TO THE FOUNDATION'S BYLAWS, BETHEL UNIVERSITY RETAINS THE RIGHT TO APPROVE OR REMOVE MEMBERS OF THE FOUNDATION'S BOARD OF GOVERNORS. |
| FORM 990, PART VI, SECTION A, LINE 7B |
AMENDMENTS TO THE FOUNDATION'S GOVERNING DOCUMENTS REQUIRE APPROVAL BY THE BOARD OF TRUSTEES OF BETHEL UNIVERSITY. |
| FORM 990, PART VI, SECTION B, LINE 11B |
THE AUDIT COMMITTEE REVIEWS AND APPROVES THE PUBLIC INSPECTION COPY OF THE FORM 990 BEFORE IT IS GIVEN TO THE BOARD AND FILED WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C |
ANNUAL DISCLOSURE FORM IS COMPLETED BY BOARD AND STAFF AS REQUIRED BY THE CONFLICT OF INTEREST POLICY. IF AN INDIVIDUAL BELIEVES SHE/HE HAS DETECTED A CONFLICT OF INTEREST SITUATION, THE ACTIVITY SHOULD BE DISCLOSED TO THE APPROPRIATE SUPERVISORY LEVEL ABOVE THE INDIVIDUAL INVOLVED IN THE POTENTIAL CONFLICT SITUATION. THE SUPERVISORY PERSONNEL SHOULD THEN DISCUSS THE SITUATION WITH THE INVOLVED INDIVIDUAL RECOMMENDING THE INDIVIDUAL COMPLETE THE CONFLICT OF INTEREST QUESTIONNAIRE TO ASSIST IN DETERMINING THE NATURE OF THE SITUATION. IT SHOULD THEN BE DISCUSSED WITH THE APPROPRIATE PERSONS. |
| FORM 990, PART VI, SECTION B, LINE 15 |
BETHEL UNIVERSITY FOUNDATION DOES NOT COMPENSATE ANY INDIVIDUALS. THE ORGANIZATION RELIED ON BETHEL UNIVERSITY IN SETTING THE COMPENSATION FOR THOSE INDIVIDUALS. BETHEL UNIVERSITY USED MULTIPLE METHODS TO ESTIMATE THE TOP MANAGEMENT OFFICIALS' COMPENSATION. |
| FORM 990, PART VI, SECTION C, LINE 19 |
THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 5: |
THE ORGANIZATION IS REPORTING IN THE FORM 990 THREE EMPLOYEES WHO DEVOTE TIME TO THE FOUNDATION AFFAIRS. THESE INDIVIDUALS ARE COMPENSATED BY BETHEL UNIVERSITY AND W-2S ARE ISSUED BY THE UNIVERSITY. ALL PAYROLL TAX FILINGS ARE PREPARED BY THE UNIVERSTIY. FOR THE PURPOSE OF PART IX, THESE INDIVIDUALS ARE REPORTED AS COMPENSATION IN THE RETURN. |
| FORM 990, PART XI, LINE 9: |
CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 1,024,369. |
| PART XII, LINE 2C |
THIS PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. |
| FORM 990, PART I: SUPPORT SERVICES FROM BETHEL UNIVERSITY |
BETHEL UNIVERSITY PROVIDED CERTAIN SUPPORT SERVICES TO THE FOUNDATION INCLUDING PROVIDING OFFICE SPACE AND ASSOCIATED EXPENSES AT NO COST. EMPLOYEES OF THE FOUNDATION ALSO PARTICIPATE IN BETHEL'S INSURANCE AND HEALTH BENEFIT PLANS. THESE OPERATING COSTS WERE PAID BY BETHEL AND HAVE BEEN REFLECTED IN SUPPORT AND REVENUE AND OPERATING EXPENSES. THE VALUE OF SUCH SERVICES TO THE FOUNDATION IS $373,032 FOR BETHEL'S FISCAL YEAR ENDED MAY 31, 2021. |
Attach to Form 990 or 990-EZ.