Lutheran Social Service of Minnesota

“The board of directors shall establish an executive committee composed of non-compensated officers, a bishop serving as director, and one additional director. The executive committee has the authority of the board of directors in the arrangement of the business of the organization in the interval between meetings of the board of directors.”

“Each synod of the evangelical lutheran church in america located in the state of minnesota elects two directors to serve for a term of three years.”

“The public inspection form 990 is reviewed in detail by the organization's management. The public inspection form 990 is provided to each member of the audit and finance committee for their review and feedback prior to filing with the irs.”

“No member of the board of directors shall be employed by the organization nor shall they hold any direct or indirect financial interest in the assets, leases, business transactions or professional services of the organization. Exceptions to this policy may be made by the board of directors pursuant to the following requirements: (1) should any member of the board of directors or any individual who serves on a committee of the board be involved in any way, directly or indirectly, in a business or financial transaction pertaining to the organization, that person shall make known such involvement to the board by providing full disclosure of all information relevant to that involvement; (2) upon notice by the individual of a business or financial transaction pertaining to the organization, the executive committee shall consider such involvement and make an appropriate decision pertaining thereto; and (3) the board or committee member shall not participate in any way with respect to the decision as to such matters nor shall that person participate in any vote taken with respect to such transaction. Lutheran social service of minnesota holds the reasonable expectation that employees and the organization will, at all times, be guided by honesty, good sense and high ethical standards. The organization expects employees to have a duty of loyalty to the organization and to avoid any conflict of interest, as outlined below, between their personal interests and the interests of the organization: (1) employees may not use their position to make a personal profit or gain other personal advantages; (2) should any employee be involved in any way, directly or indirectly, in a business or financial transaction pertaining to the organization, that person shall make known such involvement to management by providing full disclosure of all information relevant to that involvement; (3) senior management, vice presidents and the president are required by the board of directors to annually complete a conflict of interest disclosure statement which will be maintained in the personnel files; (4) if a member of the senior management team, including vice presidents and the president, has or potentially has some involvement in a matter/action that may be a conflict of interest, that individual will exclude themselves from the review and determination process of the matter.”

“The organization's board of directors contracts with an independent consultant on a biannual basis for management consulting services related to executive compensation. Every two years, a complete market analysis is conducted using various market surveys and recommendations provided to the board by the consultant. In the year that a full study is not conducted the consultant provides advice and guidence based on current data and trends in that year. This information is presented to all board members for review. The board uses this information in conjunction with the president's performance review process and the organization's salary administration program, to determinethe appropriate salary actions. The board documents the president's performance review and its approval of any salary action is documented in the board's minutes. The last compensation analysis was completed in 2024. For all other positions within the organization, the human resources department compensation team, conducts market data analysis based on reliable survey data available inhouse and from external sources. The organization obtains market data for all positions including cabinet positions from reliable and valid compensation surveys either by participating in the surveys or purchasing them. We look at the market median and our pay philosophy is that we compensate team members at least 90 percent of the market median based on factors such as skills, education, geography, etc.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Altair aco (aco) is an unrelated nonprofit. The organization provides employment of employees, as well as back-office support under a management agreement. The organization has no control over the board or daily operations of aco.”

“Change in value of split interest agreements 75,815. Pension decrease 1,475,602. Change in value of trusts 362,212. Change in net assets of noncontrolling interests -6,108.”