TY 2022 Form 990 Schedule O

efile Public Visual Render ObjectId: 202400329349300540 - Submission: 2024-02-01 TIN: 23-7094836

SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
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Attach to Form 990 or 990-EZ.
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Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2022

Open to Public
Inspection

Name of the organization

BETHEL UNIVERSITY FOUNDATION

Employer identification number

23-7094836

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 1A	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 DISCLOSE 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 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 XI, LINE 9:	CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -468,899.
FORM 990, PART XII, LINE 2C:	THIS PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.

Return Reference

Explanation

FORM 990, PART VI, SECTION A, LINE 1A

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 DISCLOSE 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 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 XI, LINE 9:

CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -468,899.

FORM 990, PART XII, LINE 2C:

THIS PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) 2022

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