Bethany Lutheran Foundation Inc.

“Deborah Herrboldt, Dalton Huber, Heather Kroger and James Erickson have a business relationship with each other and with Jim Sanden and Pastor Greg Johnson who are on the board of directors of Bethany Lutheran Home. The board of directors of Bethany Lutheran Home sets the compensation for all staff.”

“The Foundation has one Member, Bethany Lutheran Home for the Aged, Inc., a South Dakota nonprofit corporation.”

“The Member shall appoint the Board of Directors of the Foundation.”

“All rights of the Member of the corporation, whether voting rights or otherwise, shall be exercised, and all actions permitted or required by the Member shall be taken, only upon due authorization thereof by its Board of Directors, and no person, whether a Director, officer or otherwise, may act individually on behalf of the Member unless first authorized to do so by resolution of its Board of Directors.”

“During the current year, there were no separate committees for the Foundation.”

“The Foundation Director along with the CEO and CFO of Bethany Lutheran Home will review the return. After their review, the 990 will be provided to each Board Member.”

“Officers and Directors are required to complete conflict of interest questionnaires which are monitored and tracked. The questionnaires are reviewed by the Board for any possible conflicts with any noted conflicts being brought to management's attention. Conflicts are also reviewed at the Board level. After a conflict is deemed to exist, the individual(s) involved must abstain from the discussion and vote related to the issue.”

“Persons doing work for the Foundation are compensated through Bethany Lutheran Home, and the policies of the Home are used for determining compensation. Bethany Home creates an annual budget that includes salary increases for all staff. This budget is presented to the Board with an explanation of what salary increases were built in to the budget. The Board approves the budget and salary increases for all staff for the next fiscal year. The increase to compensation for all staff must then be at or below the approved increase in the budget. The compensation changes are implemented on the employee's anniversary date after an employee evaluation has been completed and documented.”

“Documents are made available upon request.”

“Professional Fees: Program service expenses 0. Management and general expenses 13,502. Fundraising expenses 0. Total expenses 13,502.”

“Change in the value of beneficial interest in community foundation 2,493.”