LSA's fiscal year is July 1 – June 30. The LSA budget is approved by the members at the Annual Meeting, which is part of the LSA Annual Conference which takes place in the spring of each year. LSA uses the accrual accounting method. Financial reports are provided to the Treasurer and the entire Board of Directors four times per year.
The Audit Committee of LSA's Board of Directors is responsible for selecting a CPA firm to audit LSA financial records annually. The Audit Committee supervises the preparation of the audit and presents it to the Board for approval. A copy of the current audit is available from LSA at firstname.lastname@example.org.
LSA prepares and submits to the IRS Form 990 following completion of the Annual Audit. The most recent and past year's LSA Form 990s are available for public viewing below and at Guidestar.org.
Investment of LSA funds is based on an investment policy approved by LSA's Board of Directors. Investments are supervised by the Audit Committee of the Board. To the extent possible, short- and mid-term investments are placed with the ELCA Mission Investment Fund and the LCMS Lutheran Church Extension.
Ethics, Transparency and Accountability
LSA places a high value on ethics, transparency and accountability. As a result, LSA:
- Works with Independent Sector, the Council on Accreditation and other organizations to promote good practice within the nonprofit community.
- Educates LSA member organizations regarding sound practices, the value of external accreditation and the need for ethical, transparent systems that complement community benefit.
- Provides conflict of interest and whistleblower provisions. LSA's Board of Directors and Staff complete a Conflict of Interest Questionnaire annually. Any person – internal to LSA or external – may report a concern about LSA's operations, financial management, or other subjects through a third-party system which is designed to protect the identity of the reporter and facilitate open and effective investigation of allegations. A statement on reporting improper conduct is accessible on the LSA website. Reports can be made at https://secure.ethicspoint.com/domain/en/report_custom.asp?clientid=13727.
In the following documents, we hope you find the information you are seeking about Lutheran Services in America. To receive a paper copy of LSA's annual report, please email email@example.com.