Diakon Lutheran Fund

“The sole member of diakon lutheran fund (dlf) is diakon, a pennsylvania non-profit corporation.”

“The directors of dlf are elected by the board of directors of its sole member, diakon, from the slate of candidates nominated by the diakon lutheran fund board.”

“The sole member of the dlf is diakon, a pennsylvania non-profit corporation. Diakon has approval rights, specified by dlf and diakon bylaws, over certain types of actions by dlf's governing body.”

“Diakon lutheran fund has a cpa firm prepare its form 990. The return is completed in draft form and reviewed by management of the organization. The return is then finalized and the board is provided a copy of the form 990 before it is filed.”

“The compliance officer of the organization reviews the organization's conflict of interest statement and certification form with the board of directors on a regular basis. All board members and all officers and key employees are required to complete a certification form and disclose possible or actual conflicts of interest. The completed forms are reviewed by the compliance officer and by organization's outside auditor on a regular basis.”

“Diakon lutheran fund's ceo is paid by diakon lutheran social ministries (dlsm). Executive compensation philosophy a compensation committee of independent directors of dlsm's sole member, which includes directors from dlsm (compensation committee), utilizes external consultants to assist with the development, administration, and determination of compensation, welfare, benefit, pension and other plans, which take into account appropriate industry benchmarks and the compensation policies followed by organizations similarly situated to dlsm. The compensation committee has adopted a written "charter," which sets forth the purpose, membership and responsibilities of the committee. In addition, it conducts its activities in compliance with dlsm's "excess benefits transactions" policy, which requires review and approval by independent persons, comparability data and contemporaneous substantiation of the deliberation and decision. Dlsm's executive compensation program consists of a base salary reflecting the value of an executive's capabilities, experience, and success in meeting mission, financial, operational and quality objectives. Information about executive compensation issues and decisions is reported to the full board of directors at regular meetings. Employee benefits dlsm provides all employees, including executives, with a comprehensive benefit plan that includes health insurance, dental insurance, life and disability insurance and a defined contribution retirement plan. The employer matching contribution to the defined contribution plan was suspended as of july 2010. The dlsm defined benefit retirement plan accruals were frozen as of 12/31/11.”

“Dlf makes its governing documents (articles of incorporation and bylaws) and conflict of interest policy available upon request. A statement of financial position is published in the organization's annual report, which is mailed to the approximately 120,000 individuals on the organization's publication mailing list. The audited consolidated financial statements and annual report are also available on the diakon website at diakon.org as well as available upon request.”

“Decrease in fair market value of funds held in trust - perm. Restricted -516,694. Contributions and bequests - perm restricted 3,900. Investment gains, net of expenses - temporarily restricted 323,303. Net assets released from restrictions - operations - temporarily restricted -96,614.”

“Diakon, the sole member of diakon lutheran fund, has an annual audit of the consolidated financial statements for diakon and controlled affiliates performed by an independent accounting firm. The audit committee of the diakon board of directors assumes responsibility for the oversight of the audit and selection of the independent accounting firm.”

“Diakon also has an annual audit under the single audit act and omb circular a-133 performed by an independent accounting firm for the consolidated group.”