Lutheran Camp Association

“The organization has members which gives an individual the right to vote at the annual meeting.”

“Membership gives an individual the right to vote at the annual meetings and partake in the election of the board of directors.”

“Decisions subject to approval of members include the purchase or sale of real property, changes in by-laws and the election of the board of directors and foundation committee.”

“The 990 is reviewed by the executive director, treasurer, and contract accountant, then is presented to the board prior to filing.”

“Board members and full time staff are required to complete an annual conflict of interest statement and to disclose any potential conflicts. Written procedures are in place for reporting and dealing with conflicts of interest should they arise.”

“Compensation of the executive director is reviewed by a committee appointed by the board of directors. As part of the process they speak with staff, board members, review satisfaction surveys, compensation surveys and interview the executive director. Their recommendations are presented to the full board for approval.”

“All governing documents and financial statements are maintained in the camp's main office and are available for inspection by its members and the general public during normal business hours. Copies are available upon request for a nominal charge. Periodically, a summary of the financial statements appear in the newsletters and on the website.”

“On april 16, 2020, the association entered into a promissory note (the note") with honor bank (the "lender") evidencing an unsecured loan in an aggregate principal amount of $137,076 pursuant to the ppp under the cares act administered by the u.s. Small business administration ("sba"). Under section 1106 of the cares act, borrowers are eligible for forgiveness of principal and accrued interest on the loans to the extent that the proceeds are used to cover eligible payroll costs, mortgage interest costs, rent and utility costs, otherwise described as qualified expenses. During the two months ended june 30, 2020, the association used all of the ppp loan proceeds to pay for qualified expenses, 100% of which were used for payroll related expenses. The association received formal forgiveness of the note from the sba in february 2021. The association has elected to account for the paycheck protection program ("ppp") loan under fasb asc 958-605, not-for-profit entities: revenue recognition, and has included $137,076 of ppp loan proceeds as "grant revenue" on the accompanying statement of activities as the conditions for forgiveness were met during 2020.”

“Credit card & bank charges: program service expenses 12,900. Management and general expenses 0. Fundraising expenses 8,600. Total expenses 21,500. Archive expense: program service expenses 17,422. Management and general expenses 0. Fundraising expenses 0. Total expenses 17,422. Bad debts: program service expenses 0. Management and general expenses 11,663. Fundraising expenses 0. Total expenses 11,663. Fundraising expense: program service expenses 0. Management and general expenses 0. Fundraising expenses 10,756. Total expenses 10,756. Payroll service: program service expenses 691. Management and general expenses 1,295. Fundraising expenses 0. Total expenses 1,986. Staff meals and entertainment: program service expenses 0. Management and general expenses 1,728. Fundraising expenses 0. Total expenses 1,728. Education and training: program service expenses 0. Management and general expenses 1,265. Fundraising expenses 0. Total expenses 1,265.”

“The board as a whole oversees the audit and is involved in the selection of an independent accountant.”