Bethesda Associates

“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.”

“Bethesda Ministries and Bethesda Foundation, both related 501(c)(3) organizations, are the two members of the organization per the governing documents.”

“Two-thirds of the Directors of the organization are elected by Bethesda Foundation and one-third is elected by Bethesda Ministries.”

“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 mail to the organization's Board of Directors.”

“Conflict of interest forms are completed annually by officers, directors and key employees and are presented to the Board for approval. When a potential conflict arises during the year, the officer, director or key employee is responsible for updating the conflict of interest form and the revised form is provided 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.”

“The organization utilizes the services of Payscale, Inc. to perform regular independent compensation studies for all officers and key employees and the results are provided to the administrative committee and the Board for review and approval of officer and key employee compensation. The President's compensation recommendation is required to be approved by the Board of Directors. The approval process for all officers and key employees is documented in the minutes.”

“The governing documents, conflict of interest policy and financial statements 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 their services provided in their capacity as members of the governing body. Therefore they are considered independent members of the board.”

“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 $27,357,948 Line 29 - Net assets with donor restrictions $0 Total net assets $27,357,948”

“Change in investment in captive insurance 1,172,769. K-1 investment income -4,657.”

“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.”