The Marvin M Schwan Charitable Foundation

“Rev. Lawrence burgdorf and erik burgdorf are father and son, respectively.”

“The foundation has a trustee succession committee. This committee can't influence the trustees or make decisions for the trustees, but if the committee feels that a trustee(s) acted outside the best interests of the foundation they can replace that trustee.”

“There are no committees with the authority to act on behalf of the governing body.”

“A preliminary form 990 was presented to the trustees at a trustee meeting. Comments were provided to the tax preparers. An updated version of form 990 was subsequently reviewed by the trustees prior to the filing deadline.”

“The disclosure statement on conflict of interest is submitted annually by all individuals at the beginning of the fiscal year of the foundation and returned to the board of trustees. After review, copies are submitted to the legal advisors of the foundation.”

“The foundation has a compensation committee comprised of the three independent, non-employee trustees. The committee engages independent firms to perform compensation studies as needed and conducts a thorough review of the salary scales annually. The compensation committee submits the proposed salary adjustments to the governing body for final approval.”

“The foundation makes its governing documents and conflict of interest policy available to the public upon request.”

“Two members of the trustee succession committee were compensated as follows. The individuals relationship with the foundation does not meet the reporting requirements for part vii, section a or section b because of reporting thresholds and the fact that the trustee succession committee does not have the authority to act on behalf of the governing body. Name and address: paul tweit, 1126 anderson drive, mankato, mn 56001 description of services: member, trustee succession committee compensation: $1,000 name and address: david ewert, 2425 winter park street, loveland, co 80538 description of services: member, trustee succession committee compensation: $1,000”

“Trustees of the foundation are not compensated for their services; therefore, the amounts reported as compensation for kent raabe and larry burgdorf on form 990, part vii relates solely to their service on the trustee succession committee, not in the capacity as a trustee of the foundation.”

“The organization is reporting investment income, rental income and gain/(loss) amounts in column (d) because such amounts represent revenue which is excludable under the rules provided in irc sections 512, 513 and 514. Such amounts are used by the foundation to operate for the benefit of, to perform the functions of, or to carry out the purposes of one or more of its specific religious supported organizations. The expenses reflected on part ix relate to that revenue and those uses. For purposes of form 990 reporting, both short-term and long-term gains (as applicable) are reported together.”

“The marvin m. Schwan charitable foundation obtained separate, independent audited financial statements for the twelve-month period ending 12/31/2014. These financial statements were prepared on the tax basis of accounting, which is a comprehensive basis of accounting other than generally accepted accounting principles, which does not satisfy the requirements for a positive response under the instructions to form 990, part iv, line 12.”

“The share of total income and end of year assets for certain entities are not included because they are not included in part x of form 990. For entities which require form 5471 or form 8858 reporting see attached forms for entities' activity including end of year assets and total income.”

“The management of the organization believes that all positions with respect to income taxation taken on its returns are more likely than not to be sustained and no tax liability exposure exists.”