Bsf International LLC

“Form 990 is prepared by an independent CPA firm and is reviewed by the Director of Finance and CFO for accuracy. The return is then provided to the board of directors for their review prior to being filed with the IRS.”

“The organization requires the board of directors and officers to complete a conflict of interest disclosure statement annually. The board as a whole is responsible for oversight of the policy, and monitoring for any potential conflicts. Should any conflict of interest present itself, the interested party would excuse themselves from the decision making process.”

“BSF International, LLC does not compensate any of its officers, directors or key employees directly. Compensation is provided by Bible Study Fellowship (BSF), a related organization included in Schedule R. The compensation committee of the BSF board of directors uses comparability data provided by the HR manager to determine compensation packages for its CEO, top executives, and key employees. Decisions are subject to board approval and are documented in the board minutes. Compensation packages are reviewed on an annual basis for appropriateness.”

“The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Financial statements and the organization's letter of determination are also available on the organization's website.”

“The organization makes its Form 1023 and Form 990 filings available to the public upon request.”

“Amounts listed in column E represent compensation paid by Bible Study Fellowship. BSF International, LLC did not compensate any trustees, directors, officers, or key employees directly.”

“The majority of the amounts listed in column F represent a change in the actuarial value of the organization's defined benefit pension plan. This represents a change in the value of the plan, not a dispersal of additional compensation. Exact amounts associated with the increase for each individual are as follows: Susan C. Rowan $57,809 Richard S. Mazur $24,768 Robert A. Birkeneder $22,689”

“Removal of foreign NGOs from audited financial statements -665,068. Unrealized Foreign Currency Translation Gain 19,766.”

“The audit committee of the board of directors is responsible for oversight of the audit of the organization's financial statements, and selection of the independent accounting firm used. This process has not changed from the prior year.”

“Foreign operations conducted under separate legal entities have been excluded from the current year Form 990. Historically these entities have been include in the BSF International LLC 990, allowing the return to tie directly to the audited financial statements, prepared according to the Generally Accepted Accounting Principles of the United States of America (GAAP). While GAAP calls for the inclusion of these entities, It is proper to exclude them from a tax perspective. The net asset adjustment appearing on 990, Part XI, Line 9 is a result of this change. It is important to note the activities carried out by BSF International LLC as a whole have not contracted. The difference between the current year and prior year figures represent a change in the tax preparation methodology only.”