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Nonprofiteer
← BETHEL UNIVERSITY FOUNDATION

Form 990 for tax year 2024

Filed by BETHEL UNIVERSITY FOUNDATION.

Totals

Total revenue
$2,691,266
Total expenses
$2,026,199
Contributions and grants received
$330,005
Grants paid
$650,500
Program service revenue
$0
Investment income
$2,360,783
Other revenue
$478
Total assets, end of year
$19,075,604
Total liabilities, end of year
$7,962,705
Net assets or fund balances, end of year
$11,112,899
Program services expenses (Part IX)
$650,500
Management and general expenses
$1,375,699
Fundraising expenses
$0
Program service expenses (Part III)
$650,500

Program services were 32.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $10,157

  • 1f · All other contributions, gifts and grants

    $319,848

  • 1g · Noncash contributions included above

    $204,560

  • 3 · Investment income

    total $488,166 · excluded $488,166

  • 7a · Gross sales of assets other than inventory

    securities $2,380,377

  • 7b · Less cost or other basis and sales expenses

    securities $507,760

  • 7c · Gain or loss

    securities $1,872,617

  • 7d · Net gain or loss

    total $1,872,617 · excluded $1,872,617

  • 11a · Other revenue: OTHER INCOME

    total $478 · excluded $478

  • 11e · Other revenue, total

    $478

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $650,500 · program services $650,500

  • 11b · Fees: legal

    total $488 · management and general $488

  • 11f · Fees: investment management

    total $11,781 · management and general $11,781

  • 11g · Fees: other

    total $33,254 · management and general $33,254

  • 17 · Travel

    total $1,869 · management and general $1,869

  • 24a · Other expenses: DISTRIBUTIONS TO BENEFI

    total $1,055,584 · management and general $1,055,584

  • 24b · Other expenses: TAXES

    total $227,310 · management and general $227,310

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $28,825 · management and general $28,825

  • 24d · Other expenses: SUPPLIES

    total $16,588 · management and general $16,588

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $185,684 · end of year $29,411

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $10,777

  • 11 · Investments: publicly traded securities

    beginning of year $5,816,935 · end of year $5,903,890

  • 12 · Investments: other securities

    beginning of year $500 · end of year $500

  • 15 · Other assets

    beginning of year $16,742,723 · end of year $13,131,026

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $98,423

  • 25 · Other liabilities

    beginning of year $8,821,472 · end of year $7,864,282

  • 27 · Net assets without donor restrictions

    beginning of year $6,002,619 · end of year $5,845,655

  • 28 · Net assets with donor restrictions

    beginning of year $7,921,751 · end of year $5,267,244

Mission and programs · 2024

Mission

TO PROVIDE FINANCIAL MANAGEMENT OF ENDOWMENT AND TRUST ACCOUNTS BY BETHEL UNIVERSITY AND ITS CONSTITUENTS.

Activities or mission (Part I)

HELP DONORS PLAN CHARITABLE GIVING AND SUPPORT BETHEL BY RECEIVING AND MANAGING DONATED FUNDS.

  • BETHEL UNIVERSITY FOUNDATION EXISTS FOR THE PURPOSE OF ENHANCING THE FINANCIAL STRENGTH OF BETHEL UNIVERSITY BY SUPPORTING ENDOWMENT GROWTH, FACILITATING MAJOR NONCASH GIFTS AND ENCOURAGING MAJOR GIFTS THROUGH ITS DEFERRED GIFT PROGRAM. IN ADDITION, THE FOUNDATION PROVIDES ACCOUNTING AND MANAGEMENT SERVICES TO BETHEL FOR BETHEL'S LONG-TERM INVESTMENTS.

    Expenses $650,500 · Grants $650,500

As filed on the 2024 return.

Listed in Part VII

  • LESLIE CHAPMAN

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • GAIL LUNDEEN

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • JODY KOBBERVIG

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • DAVID EDGERTON

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • BRUCE JOHNSON

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • LAURA MCKNIGHT

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • BRIAN SALAMI

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • PAUL TOMMERDAHL

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • TIM DOTEN

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • RACHEL KARSJENS

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • ERIC SWANSON

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • CEDRIC LONG

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • ROSS ALLEN

    EX-OFFICIO

    Total calculated
    $381,562
    From this org
    $0
    From related orgs
    $350,639
    Other
    $30,923
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $348,326 related
    Bonus
    $0
    Other
    $0 + $2,313 related
    Deferred
    $0 + $7,110 related
    Nontaxable benefits
    $0 + $23,813 related
    Filer's total
    $0 + $381,562 related

  • CHRISTY COULTER

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • JEANNE OSGOOD

    INTERIM EX DIRECTOR

    Total calculated
    $178,828
    From this org
    $0
    From related orgs
    $139,375
    Other
    $39,453
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $139,089 related
    Bonus
    $0
    Other
    $0 + $286 related
    Deferred
    $0 + $3,068 related
    Nontaxable benefits
    $0 + $36,385 related
    Filer's total
    $0 + $178,828 related

  • MARK HINTZ

    INTERIM ED THRU 8/12/24

    Total calculated
    $194,455
    From this org
    $0
    From related orgs
    $158,149
    Other
    $36,306
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $157,935 related
    Bonus
    $0
    Other
    $0 + $214 related
    Deferred
    $0 + $3,392 related
    Nontaxable benefits
    $0 + $32,914 related
    Filer's total
    $0 + $194,455 related

  • ANGELLA HJELLE

    EXECUTIVE DIRECTOR

    Total calculated
    $34,105
    From this org
    $0
    From related orgs
    $29,635
    Other
    $4,470
    Hours/week
    40

  • MICHAEL JOHNSON

    CONTROLLER

    Total calculated
    $121,842
    From this org
    $0
    From related orgs
    $86,912
    Other
    $34,930
    Hours/week
    1 + 40 related

  • PAMELA BUCHANAN

    DIRECTOR OF GOVT, CORP & FDTN RELATIONS

    Total calculated
    $82,657
    From this org
    $0
    From related orgs
    $79,786
    Other
    $2,871
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
BETHEL UNIVERSITY FOUNDATION DOES NOT COMPENSATE ANY INDIVIDUALS. THE ORGANIZATION RELIED ON BETHEL UNIVERSITY IN SETTING THE COMPENSATION FOR THOSE INDIVIDUALS. BETHEL UNIVERSITY USED MULTIPLE METHODS TO ESTABLISH THE TOP MANAGEMENT OFFICIALS' COMPENSATION, INCLUDING A COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUSTS (31)

    T · INVESTMENT · MN · controlled entity

    Directly controlled by BETHEL UNIVERSITY FOUNDATION

  • REVOCABLE TRUSTS (4)

    T · INVESTMENT · MN

Provenance

Return type
form_990
Tax year
2024
Filed
16 January 2026
IRS schema version
2024v5.5
Source object
202600209349301020

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