Living Earth Center

“As of the end of the 25 26 fiscal year Living Earth Center LEC had $137,912 invested in Mankato Area Foundation MAF Agency Funds. These funds are invested in MAFs portfolio with oversight from the MAF Investment Committee and Board of Directors.”

“Since LEC is a sponsored ministry of School Sisters of Notre Dame SSND our bylaws require a two-tiered board with the SSND Provincial Council having the following powers: a approves LECs articles of Incorporation and Bylaws and any amendment restatement or revisions. b Approves the choice of the Executive Director. c Approves the choice of members of the Board of Directors. d Approves the annual budget. e Approves the sale or aquisition of real estate property. f Approves long-term financing.”

“990 is prepared by Finance Manager then goes to Board Treasurer and Finance Committee for review and approval. Once approval is given 990 goes to full Board for review and vote to approve then 990 is submitted.”

“LEC Board Members and Staff fill out a conflict of interest form when term or employment begins. The form is reviewed and updated if necessary on an annual basis. If a conflict of interest arises during the year that person is responsible for bringing the issue to the attention of the Executive Director.”

“LECs Executive Directors salary is periodically compared by our Governance Committee to other Minnesota nonprofits to ensure fair compensation. The last salary review was in 2023 and at that time the LEC Board approved a salary increase to be inline with other Executive Director salaries in the region. The Executive Director receives an average annual cost of living increase of 4%. Our Executive Director sets hourly employees pay rate with approval from the Board. All hourly employees of LEC are paid at the same rate and receive an average 4% cost of living increase annually.”

“LECs 990 returns are available on our website all other documents are available upon request.”

“| Explanation:| line 3: Sabri Fair is employed by Region 9 Development Commission from whom LEC has received grant funding. For more details please see Schedule L Part IV and V.”

“| Explanation:| line 13: Board Member Madison Vandersee works as an independent contractor taking photos at LEC events and helping with social media. She is compensated at $20 hour and annual payments will not exceed the $3,000 threshold as outlined in LEC bylaws.”

“| Explanation:| 990 is prepared by LEC Finance Manager then goes to Board Treasurer and Finance Committee for review and approval. Once the Finance Committee has approved it goes before the full Board of Directors for a vote of approval before submission.”