Bslc II

“Dan Vagle and Dale Turner have a family relationship. Dana Rasic, Nathan Merrill, Dale Turner, Daniel Vagle and Tom Workman serve as officers of a related corporate entity which creates a business relationship.”

“BSLC II's communities are managed by Bethesda Foundation under a management contract. See explanation for Part V, Line 2a.”

“The Board of Directors of Bethesda Foundation appoints the Directors of BSLC II.”

“The Form 990 is prepared by an independent CPA firm and is reviewed in detail by the CFO and Accounting Manager. The final version of the Form 990 is distributed via email to the organization's Board of Directors. Management answers all questions and incorporates the changes, if necessary, into the Form 990 prior to filing.”

“Conflict of interest forms are completed annually by officers, directors, and key employees and are presented to the board for approval. 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.”

“BSLC II does not have employees or officers that receive compensation through BSLC II. All functions of running BSLC II communities have been delegated to Bethesda Foundation under a management contract.”

“The organization's governing documents, conflict of interest policy and audited financial statments are available upon request.”

“Many of the officers and directors provide services to affiliated organizations. The hours shown are specific to this organization but the compensation is total compensation for services provided to all of the affiliated organizations.”

“Independent Board Members: Board members Daniel Vagle, Dale Turner and Don Morgan were compensated solely for services provided in their capacity as members of the governing body. Therefore they are independent members of the board.”

“Staff are compensated by a related organization, Bethesda Foundation, under a shared services management agreement. Under the shared services agreement, employees split their time between BSLC II and Bethesda Foundation and therefore there are no employees who work solely for the filing organization. Bethesda Foundation files all required payroll information returns as required by the IRS. Under the shared services agreement, Part IX, Lines 7-10 represent the filing organization's share of the compensation expense.”

“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 9/30/2019. The 2018 Form 990 and its associated schedules have not been 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 $3,414,420 Line 29 - Net assets with donor restrictions $0 Total net assets $3,414,420”

“The organization has a committee that assumes responsibility for the oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed since the prior year.”