Bsf International LLC

“The sole member of BSF International LLC is Bible Study Fellowship, a supported organization of BSF International LLC. Bible Study Fellowship is a California not-for-profit, and an organization described in Section 501(c)(3) of the Internal Revenue Code.”

“The organization's sole member, Bible Study Fellowship, is entitled to elect the board of directors of BSF International LLC. As reported on Schedule A, Part I, BSF International LLC is a Type 1 supporting organization of Bible Study Fellowship.”

“Per the organization's governing documents, all powers of the organization and business affairs shall be managed under the direction of the organization's sole member, Bible Study Fellowship.”

“The organization does not have any committees with authority to act on behalf of the governing body. Therefore, this line was answered no in accordance with the instructions.”

“Form 990 is prepared by an independent CPA firm and is reviewed in detail 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 potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“BSF International LLC does not compensate any of its officers, directors or key employees. Therefore, Lines 15a and 15b were answered no in accordance with the instructions. Some of the officers are compensated, however, by Bible Study Fellowship (BSF), a related organization. The compensation committee of the BSF Board of Directors determines compensation for the CEO, top executives, and key employees. Comparability data provided by the HR manager is used in the process and the 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 makes its governing documents, conflict of interest policy, and financial statements available upon request.”

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

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 8/31/2019. The 2018 Form 990 and its associated schedules were not updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $ 2,752,686 Line 29 - Net assets with donor restrictions $ 1,399,752 Total net assets $ 4,152,438”

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