2015-03-31T15:54:33-05:00 2014-06-30 410746749 CLIFTONLARSONALLEN LLP 600 3RD AVE SE STE 300 CEDAR RAPIDS IA 52401 990 2013-07-01 420680387 TRUSTEES OF GRINNELL COLLEGE TRUS 6412699700 733 BROAD STREET GRINNELL IA 501121690 KATE WALKER TREASURER 6412699700 2015-03-25 1 KAREN GRIES P00078514 3193632697 2013 2016-03-07 17:11:31Z GRINNELL COLLEGE KATE WALKER 733 BROAD STREET GRINNELL IA 501121690 748764166 0 X WWW.GRINNELL.EDU X 1846 IA TO EDUCATE STUDENTS IN THE LIBERAL ARTS THROUGH FREE INQUIRY AND THE OPEN EXCHANGE OF IDEAS. 25 25 2630 1005 4081821 3104926 7847051 14701477 80329788 87103014 103773679 123774819 5355353 6228507 197305871 231807817 41824037 46531024 0 0 61908190 65554885 0 0 4992399 42637283 44857283 146369510 156943192 50936361 74864625 1863371033 2125794837 164722637 162018443 1698648396 1963776394 X WHEN GRINNELL COLLEGE FRAMED ITS CHARTER IN THE IOWA TERRITORY OF THE UNITED STATES IN 1846, IT SET FORTH A MISSION TO EDUCATE ITS STUDENTS "FOR THE DIFFERENT PROFESSIONS AND FOR THE HONORABLE DISCHARGE OF THE DUTIES OF LIFE." 0 0 85422670 45569152 71712684 INSTRUCTIONAL PROGRAMS INCLUDE HUMANITIES, SCIENCES, SOCIAL STUDIES AND SPECIAL PROGRAMS INCLUDING INTERNATIONAL EDUCATION. THE SIX-YEAR GRADUATION RATE IS 89% WITH A 1:9 FACULTY TO STUDENT RATIO. GRINNELL COLLEGE HAS APPROXIMATELY 1600 STUDENTS GENERALLY FROM ALL STATES AND ABOUT 50 OTHER COUNTRIES. AT THE CENTER OF A GRINNELL EDUCATION IS THE COLLEGE'S INDIVIDUALLY ADVISED CURRICULUM. IT COMBINES INTENSE FACULTY MENTORING WITH AN UNCOMMON LEVEL OF STUDENT RESPONSIBILITY FOR CHOOSING THEIR OWN UNIQUE SET OF COURSES. MENTORING BEGINS IN THE FIRST-YEAR TUTORIAL, THE ONLY REQUIRED COURSE AT GRINNELL COLLEGE. FACULTY MEMBERS FROM ALL ACADEMIC DEPARTMENTS TEACH THE TUTORIAL AND THEIR TOPICS VARY WIDELY, BUT EVERY TUTORIAL EMPHASIZES WRITING, CRITICAL THINKING AND ANALYSIS, DISCUSSION SKILLS, AND INFORMATION LITERACY. EACH TUTOR ALSO SERVES AS ADVISER TO THE TUTORIAL STUDENTS UNTIL THEY DECLARE A MAJOR FIELD OF STUDY, OFFERING GUIDANCE FROM AN INSTRUCTOR WITH PERSONAL KNOWLEDGE OF THEIR ACADEMIC INTERESTS, APTITUDES, AND NEEDS. THE TUTORIAL IS USUALLY LIMITED TO 12 STUDENTS, MAKING IT SMALLER THAN THE AVERAGE CLASS, THOUGH SIMILAR IN INTENSITY TO THE REST OF THE CURRICULUM. IN FACT, GRINNELL CLASSES GENERALLY ARE SMALL, WITH AN AVERAGE ENROLLMENT OF 16 AND FEWER THAN 9 PERCENT OF CLASSES ABOVE 30 STUDENTS. MANY ACADEMIC PROGRAMS OFFER A MENTORED ADVANCED PROJECT (MAP), EITHER AS INDEPENDENT STUDY OR IN THE CONTEXT OF A SEMINAR. THE MAP, CLOSELY GUIDED BY A FACULTY DIRECTOR, GIVES UPPER-LEVEL STUDENTS THE OPPORTUNITY TO CULMINATE A SEQUENCE OF ACADEMIC WORK BY COMPLETING AN ADVANCED PROJECT IN RESEARCH OR CREATIVE ARTS.AT ALL LEVELS OF THE CURRICULUM, GRINNELL COLLEGE STUDENTS RECEIVE AN EDUCATION ROOTED IN ACTIVE EXPERIENCE. FOR EXAMPLE, STUDENTS IN SCIENCE CLASSES ENGAGE IN DISCOVERY-BASED LEARNING, EVEN AT THE INTRODUCTORY LEVEL. EACH AREA OF THE FINE ARTS OFFERS OPPORTUNITIES FOR CREATIVE PRACTICE ALONGSIDE THE STUDY OF HISTORY, THEORY, AND FORMAL ANALYSIS. OUTSIDE THE CLASSROOM, THE CENTER FOR CAREERS, LIFE, AND SERVICE HAS COORDINATED MORE THAN 500 COLLEGE-FUNDED SUMMER INTERNSHIPS FOR STUDENTS OVER THE PAST FIVE YEARS. ABOUT A THIRD OF STUDENTS PARTICIPATE IN INTERCOLLEGIATE ATHLETICS THROUGH MEMBERSHIP ON VARSITY TEAMS. STUDENT-REGULATED RESIDENCE LIFE, ANOTHER IMPORTANT FEATURE OF A GRINNELL EDUCATION, TEACHES STUDENTS THE PRAGMATIC SOCIAL SKILLS OF SELF-GOVERNANCE AS THEY LIVE TOGETHER IN COMMUNITY. THE COLLEGE OFFERS A CALENDAR PACKED WITH CULTURAL EVENTS AND ACTIVITIES, INCLUDING CONCERTS, LECTURES, THEATRE, FILMS, AND OPPORTUNITIES FOR VOLUNTEER AND CIVIC INVOLVEMENT. GRINNELL HAS NEVER HAD FRATERNITIES OR SORORITIES; SOCIAL EVENTS ARE OPEN TO ALL MEMBERS OF THE COLLEGE.GRINNELL'S EMPHASIS ON ACTIVE LEARNING EXTENDS TO PARTICIPATION IN THE GLOBAL COMMUNITY. WITH INTERNATIONAL STUDENTS MAKING UP MORE THAN 10 PERCENT OF THE STUDENT BODY AND DOMESTIC STUDENTS REPRESENTING EVERY STATE, GRINNELL OFFERS A GEOGRAPHICALLY AND CULTURALLY DIVERSE ENVIRONMENT FOR LIVING AND LEARNING. A FLOURISHING CENTER FOR INTERNATIONAL STUDIES COORDINATES AND HIGHLIGHTS THE MANY COURSES AND PROGRAMS AT GRINNELL COLLEGE WITH A GLOBAL PERSPECTIVE. EVEN WITHOUT A LANGUAGE REQUIREMENT, NEARLY ALL STUDENTS ELECT TO STUDY A FOREIGN LANGUAGE. MORE THAN HALF OF GRINNELL STUDENTS (A NUMBER MATCHED BY VERY FEW OTHER COLLEGES) SPEND A SEMESTER IN OFF-CAMPUS STUDY. NEARLY ALL OF THESE STUDENTS DECIDE TO LIVE AND STUDY OUTSIDE OF THE UNITED STATES.INTENSIVE TEACHING, ACTIVE LEARNING, RESIDENCE IN A COMMUNITY OF CULTURAL AND GLOBAL DIVERSITY, AND SELF-GOVERNANCE IN BOTH SOCIAL AND ACADEMIC LIFE - THESE ELEMENTS COME TOGETHER AT GRINNELL COLLEGE TO FORM A DISTINCTIVE EXPERIENCE OF LIBERAL EDUCATION. 20959650 304271 404152 STUDENT SERVICES INCLUDES REGISTRATION, COUNSELING, ADMISSION AND FINANCIAL AID, HEALTH SERVICES, INTERCOLLEGIATE ATHLETICS, LECTURES, CONVOCATIONS AND OTHER STUDENT PROGRAMS. 20812484 657601 0 ACADEMIC AND INSTITUTIONAL SUPPORT INCLUDES LIBRARY, FACULTY DEVELOPMENT, COMPUTER SERVICES, PUBLIC RELATIONS, PRINTING SERVICES, MAIL SERVICES, AND OTHER EXPENDITURES TO SUPPORT THE ACTIVITIES OF THE COLLEGE. 15748364 0 14986178 OTHER PROGRAM SERVICES INCLUDE AUXILIARY ENTERPRISES SUCH AS HOUSING AND FOOD SERVICES. 15748364 0 14986178 142943168 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 1 1 1 1 0 1 X 2244 0 1 2630 1 1 1 1 UK 0 0 0 0 0 0 0 0 X 25 25 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 AL CA CO MA MI NY WA X X KATE WALKER 6412699700 733 BROAD STREET GRINNELL IA 501121690 TRISH FITZGIBBONS ANDERSON TRUSTEE & VICE CHAIR 2.00 0.00 X X 0 0 0 ROBERT AUSTIN TRUSTEE 1.00 0.00 X 0 0 0 DAVID BRAMAN TRUSTEE 2.00 0.00 X 0 0 0 LAURA FERGUSON TRUSTEE 1.00 0.00 X 0 0 0 SHELLEY FLOYD TRUSTEE 1.00 0.00 X 0 0 0 HAROLD FUSON JR TRUSTEE 1.00 0.00 X 0 0 0 ATUL GUPTA TRUSTEE 1.00 0.00 X 4000 0 0 I CRAIG HENDERSON TRUSTEE 2.00 0.00 X 0 0 0 STEVE HOLTZE TRUSTEE 1.00 0.00 X 0 0 0 KIHWAN KIM TRUSTEE 1.00 0.00 X 0 0 0 CLINTON KORVER TRUSTEE & CHAIR 2.00 0.00 X X 0 0 0 SYLVIA KWAN TRUSTEE 2.00 0.00 X 0 0 0 TOBI KLEIN MARCUS TRUSTEE 0.00 0.00 X 0 0 0 PAUL MCCULLEY TRUSTEE 1.00 0.00 X 0 0 0 SUSAN HOLDEN MCCURRY TRUSTEE 1.00 0.00 X 0 0 0 GEORGE MOOSE TRUSTEE 0.00 0.00 X 0 0 0 PAUL RISSER TRUSTEE & VICE CHAIR 2.00 0.00 X X 0 0 0 KAREN SHAFF TRUSTEE 2.00 0.00 X 0 0 0 M ANNE SPENCE TRUSTEE 2.00 0.00 X 0 0 0 JOEL SPIEGEL TRUSTEE 2.00 0.00 X 0 0 0 BARRETT THOMAS TRUSTEE 2.00 0.00 X 0 0 0 MATTHEW WELCH TRUSTEE 1.00 0.00 X 0 0 0 ERIC WHITAKER TRUSTEE 1.00 0.00 X 0 0 0 DAVID WHITE TRUSTEE 0.00 0.00 X 0 0 0 CONNIE WIMER TRUSTEE 0.00 0.00 X 0 0 0 HENRY WINGATE TRUSTEE 1.00 0.00 X 0 0 0 NORDAHL BRUE LIFE TRUSTEE 1.00 0.00 X 0 0 0 JOHN EGAN LIFE TRUSTEE 1.00 0.00 X 0 0 0 PATRICIA FINKELMAN LIFE TRUSTEE 2.00 0.00 X 0 0 0 TODD LINDEN LIFE TRUSTEE 1.00 0.00 X 0 0 0 ROBERT MUSSER LIFE TRUSTEE 1.00 0.00 X 0 0 0 GREG NARBER LIFE TRUSTEE 1.00 0.00 X 0 0 0 JOHN PRICE LIFE TRUSTEE 2.00 0.00 X 0 0 0 RONALD SANDLER LIFE TRUSTEE 1.00 0.00 X 0 0 0 DONALD STEWART LIFE TRUSTEE 1.00 0.00 X 0 0 0 RAYNARD KINGTON PRESIDENT 60.00 0.00 X 570950 0 80618 DAVID CLAY CHIEF INVESTMENT OFFICER 60.00 0.00 X 601484 0 42861 SCOTT WILSON CHIEF INVESTMENT OFFICER 60.00 0.00 X 284788 0 45429 KAREN VOSS TREASURER 60.00 0.00 X 264944 0 43293 KATE WALKER TREASURER 60.00 0.00 X 41565 0 6251 SUSAN SCHOEN SECRETARY 50.00 0.00 X 94971 0 25319 JOSEPH BAGNOLI VP ENROLLMENT 50.00 0.00 X 203979 0 34770 HOUSTON DOUGHARTY VP STUDENT AFFAIRS 50.00 0.00 X 153125 0 73074 ELIZABETH HALLORAN VP DEVELOPMENT & ALUMNI RELATIONS 50.00 0.00 X 286292 0 33720 JOHN KALKBRENNER VP COLLEGE SERVICES 50.00 0.00 X 183610 0 77044 DAVID LOPATTO INTERIM DEAN OF THE COLLEGE 50.00 0.00 X 163380 0 58039 JAMES REISCHE VP COMMUNICATIONS 50.00 0.00 X 150337 0 35098 ANGELA VOOS VP STRATEGIC PLANNING & CHIEF OF STAFF 50.00 0.00 X 173497 0 20160 JAMES HOWARD DIRECTOR OF PRINCIPAL GIFTS 50.00 0.00 X 150641 0 29686 JOHN MUTTI PROFESSOR OF ECONOMICS 50.00 0.00 X 174358 0 34829 JAMES SWARTZ PROFESSOR OF CHEMISTRY 50.00 0.00 X 168303 0 32770 CHARLES SULLIVAN PROFESSOR OF BIOLOGY 50.00 0.00 X 158326 0 33016 HENRY WALKER PROFESSOR OF COMPUTER SCIENCE 50.00 0.00 X 152538 0 31045 PAULA SMITH PROFESSOR OF ENGLISH 50.00 0.00 X 211581 0 25197 4192669 0 762219 60 1 1 0 SOUTHEASTERN ASSET MANAGEMENT 6410 POPLAR AVENUE MEMPHIS TN 38119 INVESTMENT MANAGER 2246645 NEUBERGER BERMAN LLC 605 THIRD AVENUE 36TH FLOOR NEW YORK NY 10158 INVESTMENT MANAGER 1826736 EAGLE CAPITAL MANAGEMENT LLC 499 PARK AVENUE 17TH FLOOR NEW YORK NY 10022 INVESTMENT MANAGER 1079140 THIRD AVENUE MANAGEMENT LLC 622 THIRD AVENUE NEW YORK NY 10017 INVESTMENT MANAGER 901948 THE NORTHERN TRUST COMPANY 50 S LASALLE STREET CHICAGO IL 60603 INVESTMENT CUSTODIAN 468299 15 1054204 13647273 1359274 14701477 TUITION AND FEES 611600 71590500 71590500 AUXILIARY SERVICES 611710 14727837 14727837 FEES, SOURCES AND FINES 611710 404152 404152 ALUMNI FEES 611710 258341 258341 INDIRECT COST RECOVERY 611710 67195 67195 54989 54989 87103014 31542663 4081821 27460842 21 21 6233758 6233758 76833 103573 -26740 -26740 -26740 609022264 62647 516686494 166282 92335770 -103635 92232135 92232135 OTHER 900099 21489 21489 21489 231807817 71645489 4081821 141379030 362872 362872 40214462 40214462 5953690 5953690 2781708 472468 1727711 581529 884981 255163 605651 24167 43166859 39086744 2218877 1861238 3896322 3535582 202072 158668 11594151 10489579 626370 478202 3230864 2810272 267951 152641 200976 16289 184687 121116 121116 10636 10636 3089057 2610848 308517 169692 245358 129125 116233 7189050 6503045 163086 522919 1783329 1460137 290191 33001 18235 18235 6247043 6155637 66360 25046 2836703 2077440 269629 489634 1201482 664209 235812 301461 1164887 1164887 11074499 10677838 289159 107502 504289 504289 OFF-CAMPUS PROGRAM COST 3185956 3185956 DINING PROGRAM COST 2661364 2661364 UBI TAX 1143833 1143833 SPECIAL PROGRAMS 409418 316678 90093 2647 1770052 1616359 69641 84052 156943192 142943168 9007625 4992399 1798772 1528943 2925264 709001 1202287 14295 13713 1102960 1162011 2684432 3138603 410750750 172179051 246020550 238571699 924001111 1017871640 679304206 851856813 7735706 7523864 1863371033 2125794837 38754625 45303871 1214369 1477143 110280277 103583720 4674481 5042094 9798885 6611615 164722637 162018443 X 1208165453 1388253544 389203891 466859826 101279052 108663024 1698648396 1963776394 1863371033 2125794837 X 74864625 190096802 166571 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 205135 5813761 X X X 0 0 1 X 1553629299 15363250 316328638 17934254 37865746 1829521187 1383856130 1871612 222301557 16893207 37506793 1553629299 1500219483 6271106 -69353459 17424397 35856603 1383856130 1260593189 4248722 284843964 15701985 33764407 1500219483 1137472042 14749865 149816994 12540202 28905510 1260593189 0.69000 0.31000 0.00000 0 0 175100 2842551 3017651 525000 327774069 110921337 217377732 69483468 55419721 14063747 53939 9896623 5837993 4112569 238571699 11623457 F MARKETABLE ALTERNATIVES 344143584 F NON-MARKETABLE ALTERNATIVES 496088652 F OTHER 1120 F 851856813 ANNUITIES PAYABLE 6611615 6611615 X 375605236 190096802 228899 190325701 185279535 46528282 46528282 231807817 110477238 207208 207208 110270030 46673162 46673162 156943192 PART III, LINE 4: THE FOCUS OF THE GRINNELL COLLEGE ART COLLECTION IS WORKS ON PAPER OF ALL TYPES THOUGH IT IS NOT EXCLUSIVELY A WORKS ON PAPER COLLECTION. THE FAULCONER GALLERY AND ITS ART COLLECTION PROMOTE LEARNING THROUGH ARTISTIC EXCELLENCE AND CREATIVE COLLABORATION. GOALS OF THE GALLERY INCLUDE DEVELOPING COLLECTIONS THAT DIRECTLY SUPPORT EXHIBITIONS, TEACHING, AND RESEARCH AND TO PROVIDE A VARIETY OF LEARNING OPPORTUNITIES WITH ART AS THE PRIMARY SOURCE USING THE COLLECTION AS A DYNAMIC PART OF THE LEARNING PROCESS AND ACROSS THE CURRICULUM, FACILITATING THE INTEGRATION OF THE GALLERY AND ITS RESOURCES IN THE CLASSROOM AND IN RESEARCH. PART IV, LINE 2B: GRINNELL COLLEGE CLASSIFIES ON FORM 990, PART X, LINE 21, AMOUNTS HELD FOR PERKINS LOANS PAYABLE, FUNDS HELD IN TRUST FOR OTHERS RELATED TO ANNUITIES AND STUDENT GROUP/OTHER GROUP AGENCY ACCOUNTS. PART V, LINE 4: THE INTENDED USE OF THE GRINNELL COLLEGE ENDOWMENT IS TO PROVIDE PREDICTABLE AND STABLE SUPPORT FOR THE COLLEGE'S MISSION AS A FINE LIBERAL ARTS COLLEGE. PART X, LINE 2: THE COLLEGE HAS RECEIVED A TAX DETERMINATION LETTER FROM THE IRS STATING THAT IT QUALIFIES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES. AS SUCH, THE COLLEGE IS TAXED ONLY ON ANY NET UNRELATED BUSINESS INCOME UNDER SECTION 511 OF THE CODE. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE COLLEGE AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE COLLEGE HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COLLEGE, AND HAS CONCLUDED THAT AS OF JUNE 30, 2014, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE COLLEGE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF LIFE INSURANCE 21,691. RENTAL EXPENSES 103,573. LOSS ON DISPOSAL OF FIXED ASSETS 103,635. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND SCHOLARSHIPS 45,126,108. ALUMNI FEES 258,341. UNRELATED BUSINESS INCOME TAX 1,143,833. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 103,573. LOSS ON DISPOSAL OF FIXED ASSETS 103,635. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND SCHOLARSHIPS 45,126,108. ALUMNI FEES 258,341. UNRELATED BUSINESS INCOME TAX 1,143,833. CHANGE IN VALUE OF POST RETIREMENT BENEFIT OBLIGATION -2,097,432. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 2,242,312. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 GRINNELL COLLEGE DRAWS STUDENTS FROM AROUND THE WORLD AND THROUGHOUT THE U.S. AND ACTIVELY SEEKS TO ENROLL A DIVERSE STUDENT BODY. DOMESTIC STUDENTS OF COLOR CURRENTLY MAKE UP ABOUT A QUARTER OF THE STUDENT BODY; INTERNATIONAL STUDENTS 13%. THE COLLEGE'S NONDISCRIMINATION STATEMENTS ARE INCLUDED IN THE ACADEMIC COURSE CATALOG, AVAILABLE IN PRINT AS WELL AS ON THE COLLEGE'S WEBSITE (WWW.GRINNELL.EDU). SCHEDULE E, PART I, LINE 6 FINANCIAL AID IS RECEIVED FOR PELL GRANTS, SEOG, WORK STUDY AND OTHER GRANTS FOR STUDENTS. THE COLLEGE ALSO RECEIVES FUNDS FOR NSF GRANTS. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTS 440438 EAST ASIA AND THE PACIFIC 0 0 GRANTS 1637598 EUROPE 0 0 GRANTS 1279546 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS 352136 NORTH AMERICA - CANADA AND MEXICO 0 0 GRANTS 115504 RUSSIA & THE NEWLY INDEPENDENT STATES 0 0 GRANTS 159460 SOUTH AMERICA 0 0 GRANTS 279880 SOUTH ASIA 0 0 GRANTS 724960 SUB-SAHARAN AFRICA 0 0 GRANTS 964168 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 39613 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 141945 EUROPE 1 9 PROGRAM SERVICES ACADEMIC/EDUCATION 699899 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 6172 NORTH AMERICA - CANADA AND MEXICO 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 13576 RUSSIA & THE NEWLY INDEPENDENT STATES 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 3789 SOUTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 15310 SOUTH ASIA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 54422 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 45916 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS (BOOK VALUE) 333744055 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS (BOOK VALUE) 53402483 EUROPE 0 0 INVESTMENTS (BOOK VALUE) 110196221 NORTH AMERICA - CANADA AND MEXICO 0 0 INVESTMENTS (BOOK VALUE) 15720481 SOUTH AMERICA 0 0 INVESTMENTS (BOOK VALUE) 2 SUB-SAHARAN AFRICA 0 0 INVESTMENTS (BOOK VALUE) 6240000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS (EXPENDITURES) 98157846 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS (EXPENDITURES) 25216574 EUROPE 0 0 INVESTMENTS (EXPENDITURES) 43831712 NORTH AMERICA - CANADA AND MEXICO 0 0 INVESTMENTS (EXPENDITURES) 13652452 SUB-SAHARAN AFRICA 0 0 INVESTMENTS (EXPENDITURES) 1860000 0 0 1 9 1 9 4989522 704006636 708996158 SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 13 423238 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP EAST ASIA AND THE PACIFIC 81 1581786 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP EUROPE 31 1234115 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 10 346536 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP NORTH AMERICA - CANADA AND MEXICO 4 113804 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP RUSSIA & THE NEWLY INDEPENDENT STATES 4 159460 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP SOUTH AMERICA 8 273780 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP SOUTH ASIA 25 705794 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP SUB-SAHARAN AFRICA 22 949918 CREDIT TO STUDENT ACCOUNT 0 N/A N/A PRIZES CENTRAL AMERICA AND THE CARIBBEAN 1 1800 CHECK 0 N/A N/A PRIZES EAST ASIA AND THE PACIFIC 2 700 CHECK 0 N/A N/A PRIZES EUROPE 3 1650 CHECK 0 N/A N/A PRIZES MIDDLE EAST AND NORTH AFRICA 1 2200 CHECK 0 N/A N/A PRIZES NORTH AMERICA - CANADA AND MEXICO 1 1000 CHECK 0 N/A N/A PRIZES SOUTH ASIA 2 1575 CHECK 0 N/A N/A PRIZES SUB-SAHARAN AFRICA 1 250 CHECK 0 N/A N/A FELLOWSHIPS CENTRAL AMERICA AND THE CARIBBEAN 3 6800 CHECK 0 N/A N/A FELLOWSHIPS EAST ASIA AND THE PACIFIC 8 20300 CHECK 0 N/A N/A FELLOWSHIPS EUROPE 9 22240 CHECK 0 N/A N/A FELLOWSHIPS MIDDLE EAST AND NORTH AFRICA 2 3400 CHECK 0 N/A N/A FELLOWSHIPS NORTH AMERICA - CANADA AND MEXICO 1 1700 CHECK 0 N/A N/A FELLOWSHIPS SOUTH AMERICA 1 1700 CHECK 0 N/A N/A FELLOWSHIPS SOUTH ASIA 5 8500 CHECK 0 N/A N/A FELLOWSHIPS SUB-SAHARAN AFRICA 4 6800 CHECK 0 N/A N/A INTERNSHIPS CENTRAL AMERICA AND THE CARIBBEAN 2 8600 CHECK 0 N/A N/A INTERNSHIPS EAST ASIA AND THE PACIFIC 14 34812 CHECK 0 N/A N/A INTERNSHIPS EUROPE 9 21541 CHECK 0 N/A N/A INTERNSHIPS SOUTH AMERICA 1 3400 CHECK 0 N/A N/A INTERNSHIPS SOUTH ASIA 3 9091 CHECK 0 N/A N/A INTERNSHIPS SUB-SAHARAN AFRICA 2 7200 CHECK 0 N/A N/A 1 0 1 1 1 0 PART I, LINE 2: SCHOLARSHIPS AND GRANTS FOR STUDENTS ARE APPLIED DIRECTLY TO A STUDENT'S GRINNELL COLLEGE ACCOUNT AND APPLIED TO TUITION, FEES, ROOM, AND BOARD. ALL FINANCIAL AID IS SUBJECT TO REVISION BASED ON FUND AVAILABILITY, CHANGES IN FAMILY CONTRIBUTION AND/OR CREDIT LOAD. SATISFACTORY ACADEMIC PROGRESS MUST BE MAINTAINED ACCORDING TO STANDARDS PRESCRIBED BY GRINNELL COLLEGE. ANNUAL RENEWAL OF FINANCIAL AID IS CONTINUOUS IF INSTITUTIONAL FINANCIAL NEED REMAINS, ALL REQUIRED DOCUMENTS ARE COMPLETED BY THE PUBLISHED DEADLINE AND SATISFACTORY ACADEMIC PROGRESS IS MAINTAINED CONSISTENT WITH GRINNELL COLLEGE POLICY. STUDENTS AWARDED OTHER FUNDS MAKE VARIOUS REPORTS AND PRESENTATIONS ON THEIR RESEARCH OR STUDY AS REQUIRED BASED ON INDIVIDUAL REQUIREMENTS OF THE FUNDING. 1 POWESHIEK IOWA DEVELOPMENT 927 4TH AVENUE GRINNELL IA 50112 201423354 501(C)(3) 7626 0 N/A N/A GENERAL SUPPORT SANERGY INC 28 PARK STREET BROOKLINE MA 02446 364688468 501(C)(3) 100000 0 N/A N/A GENERAL SUPPORT SIRUM 150 ALMA STREET MENLO PARK CA 94025 271103057 501(C)(3) 50000 0 N/A N/A GENERAL SUPPORT GRINNELL AREA CHAMBER OF COMMERCE 833 4TH AVENUE GRINNELL IA 50112 420286455 501(C)(6) 32084 0 N/A N/A GROWTH COLLABORATIVE AND GENERAL SUPPORT GRINNELL AREA ARTS COUNCIL 926 BROAD STREET GRINNELL IA 50112 421130693 501(C)(3) 35549 0 N/A N/A GENERAL SUPPORT AND CAPITAL GREATER POWESHIEK COMMUNITY FOUNDATION 1510 PENROSE STREET GRINNELL IA 50112 421298055 501(C)(3) 20136 0 N/A N/A GENERAL SUPPORT GRINNELL COMMUNITY DAYCARE & PRESCHOOL 1436 PENROSE STREET GRINNELL IA 50112 420947994 501(C)(3) 6700 0 N/A N/A SUMMER CAMP AND CREATIVE CURRICULUM GRINNELL UNITED WAY FUND PO BOX 121 GRINNELL IA 50112 237120759 501(C)(3) 5200 0 N/A N/A GENERAL SUPPORT CITY OF GRINNELL 927 4TH AVENUE GRINNELL IA 50112 426004734 GOVT ENTITY 68350 0 N/A N/A GENERAL SUPPORT POWESHIEK ANIMAL LEAGUE PO BOX 123 GRINNELL IA 50112 201045708 501(C)(3) 5700 0 N/A N/A GENERAL SUPPORT 9 1 SCHOLARSHIPS 1332 39275764 0 N/A N/A PRIZES 88 67537 0 N/A N/A FELLOWSHIPS 244 560428 0 N/A N/A INTERNSHIPS 82 210733 0 N/A N/A AWARDS 4 100000 0 N/A N/A PART I, LINE 2: SCHOLARSHIPS AND GRANTS FOR STUDENTS ARE APPLIED DIRECTLY TO A STUDENT'S GRINNELL COLLEGE ACCOUNT AND APPLIED TO TUITION, FEES, ROOM AND BOARD. ALL FINANCIAL AID IS SUBJECT TO REVISION BASED ON FUND AVAILABILITY, CHANGES IN FAMILY CONTRIBUTION AND/OR CREDIT LOAD. SATISFACTORY ACADEMIC PROGRESS MUST BE MAINTAINED ACCORDING TO STANDARDS PRESCRIBED BY GRINNELL COLLEGE. ANNUAL RENEWAL OF FINANCIAL AID IS CONTINUOUS IF INSTITUTIONAL FINANCIAL NEED REMAINS, ALL REQUIRED DOCUMENTS ARE COMPLETED BY THE PUBLISHED DEADLINE AND SATISFACTORY ACADEMIC PROGRESS IS MAINTAINED CONSISTENT WITH GRINNELL COLLEGE POLICY. STUDENTS AWARDED OTHER FUNDS MAKE VARIOUS REPORTS AND PRESENTATIONS ON THEIR RESEARCH OR STUDY AS REQUIRED BASED ON INDIVIDUAL REQUIREMENTS OF THE FUNDING. THE COLLEGE AWARDS GRANTS TO LOCAL ORGANIZATIONS WHICH ARE ADMINISTERED THROUGH THE OFFICE OF COMMUNITY ENHANCEMENT AND ENGAGEMENT. APPLICATIONS ARE REVIEWED BY A COMMITTEE OF FACULTY, STAFF AND GRINNELL COLLEGE STUDENTS FROM THE LOCAL AREA. ALL FINANCIAL CONTRIBUTIONS FOCUS ON THE STRATEGIC PRIORITIES OF STRENGTHENING CULTURAL, RECREATIONAL, AND EDUCATIONAL OPPORTUNITIES IN THE LOCAL AREA AS WELL AS INITIATIVES THAT ENHANCE THE SAFETY, BEAUTY, AND ECONOMIC VITALITY OF OUR SURROUNDINGS. GRINNELL COLLEGE HAS ASSEMBLED A DIVERSE SELECTION COMMITTEE TO EVALUATE NOMINEES FOR THE GRINNELL COLLEGE YOUNG INNOVATOR FOR SOCIAL JUSTICE PRIZE. APPOINTED BY THE COLLEGE'S PRESIDENT, THE SELECTION COMMITTEE MEMBERS ARE ALL RECOGNIZED INDIVIDUALS WHO WORK FOR SOCIAL CHANGE IN VARIOUS CAPACITIES. THEIR BACKGROUNDS, ACCOMPLISHMENTS, AND EXPERIENCES REFLECT THE DIVERSITY IN BOTH GRINNELL AND THE STATE. THESE MEMBERS INCLUDE ONE REPRESENTATIVE EACH FROM THE COLLEGE'S FACULTY, STUDENT BODY, ALUMNI, STAFF AND TRUSTEES, PLUS PROMINENT INDIVIDUALS NOT FORMALLY AFFILIATED WITH GRINNELL. X X X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 RAYNARD KINGTON PRESIDENT 529887 0 0 0 41063 0 25500 0 55118 0 651568 0 0 0 DAVID CLAY CHIEF INVESTMENT OFFICER 567448 0 0 0 34036 0 25500 0 17361 0 644345 0 0 0 SCOTT WILSON CHIEF INVESTMENT OFFICER 283418 0 0 0 1370 0 25500 0 19929 0 330217 0 0 0 KAREN VOSS TREASURER 161440 0 0 0 103504 0 25500 0 17793 0 308237 0 0 0 JOSEPH BAGNOLI VP ENROLLMENT 188600 0 15000 0 379 0 18850 0 15920 0 238749 0 0 0 HOUSTON DOUGHARTY VP STUDENT AFFAIRS 152553 0 0 0 572 0 15876 0 57198 0 226199 0 0 0 ELIZABETH HALLORAN VP DEVELOPMENT & ALUMNI RELATIONS 283391 0 0 0 2901 0 25500 0 8220 0 320012 0 0 0 JOHN KALKBRENNER VP COLLEGE SERVICES 182818 0 0 0 792 0 18833 0 58211 0 260654 0 0 0 DAVID LOPATTO INTERIM DEAN OF THE COLLEGE 162073 0 0 0 1307 0 16800 0 41239 0 221419 0 0 0 JAMES REISCHE VP COMMUNICATIONS 150008 0 0 0 329 0 15492 0 19606 0 185435 0 0 0 ANGELA VOOS VP STRATEGIC PLANNING & CHIEF OF STA 170818 0 0 0 2679 0 17250 0 2910 0 193657 0 0 0 JAMES HOWARD DIRECTOR OF PRINCIPAL GIFTS 149205 0 0 0 1436 0 15187 0 14499 0 180327 0 0 0 JOHN MUTTI PROFESSOR OF ECONOMICS 171310 0 0 0 3048 0 17648 0 17181 0 209187 0 0 0 JAMES SWARTZ PROFESSOR OF CHEMISTRY 166957 0 0 0 1346 0 17077 0 15693 0 201073 0 0 0 CHARLES SULLIVAN PROFESSOR OF BIOLOGY 156798 0 0 0 1528 0 16175 0 16841 0 191342 0 0 0 HENRY WALKER PROFESSOR OF COMPUTER SCIENCE 149781 0 0 0 2757 0 15353 0 15692 0 183583 0 0 0 PAULA SMITH PROFESSOR OF ENGLISH 208700 0 0 0 2881 0 20870 0 4327 0 236778 0 0 0 PART I, LINE 1A THE PRESIDENT IS REQUIRED TO LIVE IN COLLEGE OWNED HOUSING. THE COLLEGE EMPLOYS A HOUSEKEEPER FOR THIS HOUSING. THE HOUSING BENEFIT IS NOT TAXABLE PURSUANT TO IRC SECTION 119 AS IT IS A CONDITION OF THE PRESIDENT'S EMPLOYMENT AT THE COLLEGE. THE COLLEGE HAS PURCHASED A MEMBERSHIP TO THE LOCAL COUNTRY CLUB, WHICH IS A TAXABLE BENEFIT TO THE PRESIDENT. IN ADDITION TO HOUSEKEEPING, THE COLLEGE OCCASIONALLY PROVIDED MEALS TO THE PRESIDENT AND HIS FAMILY, WHICH IS A TAXABLE BENEFIT TO THE PRESIDENT. PART I, LINE 4A THE COLLEGE ENTERED INTO A SEPARATION AGREEMENT WITH KAREN VOSS ON AUGUST 30, 2013 AND UNDER THE AGREEMENT, THE COLLEGE MADE PAYMENTS TOTALING $96,132 TO MS. VOSS FROM SEPTEMBER TO DECEMBER 2013 PER THE SPECIFIED TERMS AND CONDITIONS. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460E69 2008-06-26 60000000 SEE PART VI 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460H74 2010-03-09 65994798 SEE PART VI 0 0 0 A 61414112 935956 378597 60099559 2010 0 0 1 1 B 17700000 66325255 554622 404597 13371706 51433447 560883 2012 0 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00630 0.00000 0.00630 0 0 1 A 0 0 1 1 1 0 0 0 1 B 0 0 1 1 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: IOWA HIGHER EDUCATION LOAN AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/26/2010 ISSUER NAME: IOWA HIGHER EDUCATION LOAN AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 03/09/2012 SCHEDULE K, PART I, COLUMN F: FACILITIES CONSTRUCTION AND IMPROVEMENTS SCHEDULE K, PART I, COLUMN F: REFUND 12-13-01 $50,000,000 BOND ISSUE AND FACILITIES SCHEDULE K, PART II, LINE 3: THE DIFFERENCE FROM PART I (E) IS DUE TO INVESTMENT EARNINGS. SCHOLARSHIPGRANT 78148 CREDIT TO STUDENT ACCOUNT SCHOLARSHIP INTERNSHIP 3540 CHECK INTERNSHIP STIPEND PAUL TJOSSEM FAMILY MEMBER OF PAULA SMITH, FORMER VP ACADEMIC AFFAIRS & DEAN 120411 WAGES & BENEFITS 0 JOHN ROMMEREIM FAMILY MEMBER OF ANGELA VOOS, VP STRATEGIC PLANNING & CHIEF OF STAFF 132871 WAGES & BENEFITS 0 BARBARA BROWN FAMILY MEMBER OF DAVID LOPATTO, INTERIM DEAN OF THE COLLEGE 64938 WAGES & BENEFITS 0 VINCENT WALKER FAMILY MEMBER OF KATE WALKER, VP FOR FINANCE & TREASURER OF THE COLLEGE 51650 WAGES & BENEFITS 0 X 5 204635 ART INSURANCE VALUE X 415 ESTIMATED VALUE X 62 1152369 NYSE AVERAGE HIGH/LOW X EQUIPMENT 3 1155 ESTIMATED VALUE X MISCELLANEOUS 2 700 ESTIMATED VALUE 1 0 0 1 PART I, COLUMN (B): REPRESENTS THE NUMBER OF CONTRIBUTORS. SCHEDULE M, PART I, LINE 31: GIFTS THAT FIT THE DEFINITION OF NON-STANDARD ARE NOT ACCEPTED BY THE COLLEGE. THE COLLEGE IS IN THE PROCESS OF CREATING A GIFT ACCEPTANCE POLICY THAT WILL ADDRESS NON-STANDARD CONTRIBUTIONS. PART I, LINE 32B: THE LIBRARY MAY USE A THIRD PARTY VENDOR TO SELL BOOK DONATIONS THAT DO NOT FIT THE NEEDS OF THE LIBRARY COLLECTION. FORM 990, PART I, LINE 6: EXPLANATION OF VOLUNTEERS VOLUNTEERS INCLUDE INDIVIDUALS WHO ASSIST ADMISSIONS, CENTER FOR CAREERS, LIFE AND SERVICE, ALUMNI COUNCIL AND OTHER COMMUNITY VOLUNTEERS. FORM 990, PART III, LINE 1: ORGANIZATION'S MISSION STATEMENT WHEN GRINNELL COLLEGE FRAMED ITS CHARTER IN THE IOWA TERRITORY OF THE UNITED STATES IN 1846, IT SET FORTH A MISSION TO EDUCATE ITS STUDENTS "FOR THE DIFFERENT PROFESSIONS AND FOR THE HONORABLE DISCHARGE OF THE DUTIES OF LIFE." THE COLLEGE PURSUES THAT MISSION BY PROVIDING AN EDUCATION IN THE LIBERAL ARTS THROUGH FREE INQUIRY AND THE OPEN EXCHANGE OF IDEAS. AS A TEACHING AND LEARNING COMMUNITY, THE COLLEGE HOLDS THAT KNOWLEDGE IS A GOOD TO BE PURSUED BOTH FOR ITS OWN SAKE AND FOR THE INTELLECTUAL, MORAL, AND PHYSICAL WELL-BEING OF INDIVIDUALS AND OF SOCIETY AT LARGE. THE COLLEGE EXISTS TO PROVIDE A LIVELY ACADEMIC COMMUNITY OF STUDENTS AND TEACHERS OF HIGH SCHOLARLY QUALIFICATIONS FROM DIVERSE SOCIAL AND CULTURAL CIRCUMSTANCES. THE COLLEGE AIMS TO GRADUATE INDIVIDUALS WHO CAN THINK CLEARLY, WHO CAN SPEAK AND WRITE PERSUASIVELY AND EVEN ELOQUENTLY, WHO CAN EVALUATE CRITICALLY BOTH THEIR OWN AND OTHERS' IDEAS, WHO CAN ACQUIRE NEW KNOWLEDGE, AND WHO ARE PREPARED IN LIFE AND WORK TO USE THEIR KNOWLEDGE AND THEIR ABILITIES TO SERVE THE COMMON GOOD. FORM 990, PART V, LINE 1A: NUMBER REPORTED IN BOX 3 OF FORM 1096 THE COLLEGE FILED 443 1099'S AND 1,801 1098-T'S FOR A TOTAL OF 2,244. FORM 990, PART VI, SECTION A, LINE 1 A LIFE TRUSTEE WILL BE PERMITTED TO VOTE ON MATTERS COMING BEFORE A BOARD MEETING ONLY IF THE LIFE TRUSTEE SHALL HAVE ATTENDED AT LEAST TWO OF THE IMMEDIATELY PRECEDING THREE REGULAR MEETINGS OF THE BOARD. NO LIFE TRUSTEE SHALL HAVE THE RIGHT TO VOTE ON PROPOSED AMENDMENTS TO THE ARTICLES OF INCORPORATION OR BY-LAWS. THE BOARD MAY FROM TIME TO TIME, DESIGNATE ANY REGULAR MEMBER WHO HAS SERVED AS SUCH FOR AT LEAST 12 YEARS A LIFE TRUSTEE. LIFE TRUSTEES WITH NO VOTING RIGHTS DURING 2014 AND THEREFORE NOT LISTED IN PART VII ARE ELIZABETH BALLANTINE, J. ROBERT BARR, RICHARD W. BOOTH, CAROLYN SWARTZ BUCKSBAUM, ROBERT A. BURNETT, VERNON E. FAULCONER, RONALD T. GAULT, CAROLINE LITTLE, FRED LITTLE, JAMES LOWRY, RANDALL MORGAN JR, PATRICIA MEYER PAPPER, PENNY BENDER SEBRING AND JESSE L. TERNBERG. FORM 990, PART VI, SECTION A, LINE 1 THE MEMBERSHIP OF THE EXECUTIVE COMMITTEE OF THE BOARD WILL CONSIST OF THE CHAIR OF THE BOARD, THE VICE-CHAIRS OF THE BOARD, AND THE CHAIRS OF THE STANDING COMMITTEES OF THE BOARD, OR, IN THEIR ABSENCE, A DESIGNEE. THE CHAIR OF THE BOARD SHALL ACT AS CHAIR OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL HAVE THE FOLLOWING DUTIES AND POWERS: A. BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, TO HAVE AND EXERCISE THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE COLLEGE; PROVIDED THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY TO AMEND, ALTER OR REPEAL THE BY-LAWS, AMEND THE ARTICLES OF INCORPORATION, APPROVE THE DISSOLUTION OR MERGER OF THE COLLEGE, THE SALE, PLEDGE, OR TRANSFER OF ALL OR SUBSTANTIALLY ALL OF THE COLLEGE'S ASSETS, ELECT, APPOINT, OR REMOVE TRUSTEES OR FILL VACANCIES ON THE BOARD OF TRUSTEES OR ANY OF THE COMMITTEES, AUTHORIZE DISTRIBUTIONS, OR AMEND, ALTER OR REPEAL ANY RESOLUTION OF THE BOARD; AND FURTHER PROVIDED, THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY TO BORROW MONEY WITHOUT THE AFFIRMATIVE VOTE OF A MAJORITY OF ITS MEMBERS. B. IN EMERGENCIES TO MAKE TEMPORARY PROVISION UNTIL THE NEXT MEETING OF THE BOARD FOR THE DISCHARGE OF DUTIES PERFORMED BY THE OFFICERS OF THE COLLEGE. C. TO ADMINISTER, AND PERFORM THE DUTIES PRESCRIBED UNDER, THE CONFLICT OF INTEREST POLICY. D. TO CONVENE AT THE CALL OF THE CHAIR OF THE BOARD OR THE PRESIDENT OF THE COLLEGE AT ANY TIME DURING THE YEAR TO TRANSACT BUSINESS AT TIMES AND PLACES CONVENIENT TO THE MAJORITY OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 2 FRED LITTLE AND CAROLINE LITTLE - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 4 DURING THE TAX YEAR THE COLLEGE AMENDED ITS GOVERNING DOCUMENTS. SIGNIFICANT CHANGES INCLUDE THE FOLLOWING: THE FORMER BUDGET COMMITTEE IS NOW THE FINANCE COMMITTEE WHICH OVERSEES AND MONITORS THE COLLEGE'S ANNUAL OPERATING AND ONGOING CAPITAL BUDGETS, ISSUANCE AND REPAYMENT OF DEBT, MANAGEMENT OF FINANCIAL RESERVES, AND LONG-RANGE STRATEGIES TOWARD FINANCIAL SUSTAINABILITY. TO ACCOMPLISH THIS, THE FINANCE COMMITTEE SHALL RECEIVE AND EVALUATE REGULAR REPORTS FROM THE COLLEGE'S TREASURER PROVIDING (A) COMPARISONS OF ACTUAL/FORECAST REVENUES AND EXPENDITURES TO BUDGET, ACCOMPANIED BY AN EXPLANATION OF VARIANCES; (B) UPDATES ON THE STRUCTURE AND STATUS OF THE COLLEGE'S DEBT OBLIGATIONS; (C) UPDATES ON THE STATUS OF RESERVE FUNDS; AND (D) OTHER FINANCIAL REPORTS AS REQUESTED BY THE COMMITTEE. THE FINANCE COMMITTEE SHALL BE RESPONSIBLE FOR ENSURING THAT THE BOARD OF TRUSTEES RECEIVES THE INFORMATION NECESSARY FOR THE BOARD TO OVERSEE THE SAFEGUARDING OF THE COLLEGE'S FINANCIAL STABILITY, LONG-TERM ECONOMIC HEALTH, AND PRUDENT USE OF FINANCIAL RESOURCES IN A MANNER CONSISTENT WITH THE MISSION AND THE STATED AIMS AND GOALS OF ACADEMIC DEPARTMENTS, ADMINISTRATIVE UNITS, AND ANCILLARY PROGRAMS. THE FINANCE COMMITTEE SHALL WORK COLLABORATIVELY WITH OTHER BOARD COMMITTEES, IN CONSULTATION WITH THE PRESIDENT, TO MAKE RECOMMENDATIONS TO THE BOARD REGARDING FINANCIAL POLICIES, DECISIONS AND ACTIONS, INCLUDING BUT NOT LIMITED TO SPENDING AND ENDOWMENT PAYOUT POLICIES; SOURCES OF INCOME APPROPRIATE TO MEETING THE COLLEGE'S NEEDS; DEBT CAPACITY, ISSUANCE AND REPAYMENT; AND CAPITAL EXPENDITURES AND FINANCING. THE PRESIDENT WAS FORMERLY ELECTED BY THE BOARD OF TRUSTEES BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE ENTIRE REGULAR MEMBERSHIP OF THE BOARD AS THEN CONSTITUTED. THE PRESIDENT IS NOW ELECTED BY 2/3 OF THE AFFIRMATIVE VOTE OF THE ELIGIBLE MEMBERS OF THE BOARD PRESENT AND VOTING. FORM 990, PART VI, SECTION B, LINE 11 THE COMPLETE FORM 990 WAS MADE AVAILABLE FOR REVIEW TO ALL TRUSTEES, THE PRESIDENT AND TREASURER PRIOR TO THE FEBRUARY 2015 TRUSTEE MEETING. THE FORM 990 WAS PRESENTED TO AND REVIEWED IN DETAIL BY THE AUDIT AND ASSESSMENT COMMITTEE AT THE MEETING AND PRESENTED FOR APPROVAL TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS AND TRUSTEES ARE REQUIRED TO REPORT ANY CONFLICTS OF INTEREST UNDER THE POLICIES OF THE TRUSTEES OF GRINNELL COLLEGE. ANY CONFLICTS MUST BE DISCLOSED IN WRITING BEFORE ENTERING INTO THE TRANSACTION TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. A TRANSACTION MAY NOT BE ENTERED INTO UNTIL APPROVED BY A VOTE OF AT LEAST TWO-THIRDS BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL REPORT TO THE BOARD OF TRUSTEES ON ALL CONFLICT OF INTEREST TRANSACTIONS CONSIDERED BY IT AT EACH MEETING OF THE BOARD AND, IF REQUESTED BY THE EXECUTIVE COMMITTEE, THE BOARD SHALL CONSIDER WHETHER TO RATIFY THE ACTIONS OF THE EXECUTIVE COMMITTEE WITH RESPECT TO ANY SUCH CONFLICT OF INTEREST TRANSACTION. A CONFLICT OF INTEREST TRANSACTION MAY ONLY BE RATIFIED BY THE AFFIRMATIVE VOTE BY AT LEAST TWO-THIRDS OF THE TRUSTEES PRESENT AND VOTING AT A MEETING OF THE BOARD DULY CALLED AND HELD AFTER THE EXECUTIVE COMMITTEE HAS RECEIVED THE DISCLOSURE. EACH CURRENT MEMBER OF THE BOARD OF TRUSTEES AND EACH OFFICER SHALL FILE A STATEMENT IN JULY OF EACH YEAR WITH THE TREASURER CERTIFYING THAT HE OR SHE HAS READ, AND IS FAMILIAR WITH THE TERMS OF, THIS CONFLICT OF INTEREST POLICY, AND EITHER (A) SETTING FORTH AND DESCRIBING ANY POSSIBLE CONFLICTS OF INTEREST WHICH MAY HAVE ARISEN OR OCCURRED IN THE FISCAL YEAR OF THE COLLEGE ENDING JUNE 30, OR WHICH MAY BE EXPECTED TO ARISE OR OCCUR DURING THE FISCAL YEAR BEGINNING JULY 1, OR (B) THAT HE OR SHE KNOWS OF NO SUCH POSSIBLE CONFLICTS OF INTEREST. KEY EMPLOYEES MUST ANNUALLY COMPLETE THE CAMPUS CONFLICT OF INTEREST DISCLOSURE STATEMENT WHICH IS REVIEWED BY A COMMITTEE CONSISTING OF MEMBERS FROM THE HUMAN RESOURCES, TREASURER AND DEAN'S OFFICES, RESPECTIVELY. FORM 990, PART VI, SECTION B, LINE 15 THE COLLEGE HAS A DISQUALIFIED EMPLOYEE COMPENSATION REVIEW POLICY. THE DETERMINATION OF WHO IS CLASSIFIED AS A DISQUALIFIED EMPLOYEE AT GRINNELL COLLEGE IS DETERMINED BY THE LEVEL OF EACH INDIVIDUAL'S INVOLVEMENT IN THE MANAGEMENT AND/OR CONTROL OF CERTAIN FINANCIAL ASPECTS OF THE COLLEGE. GRINNELL COLLEGE WILL ACQUIRE AND USE SUFFICIENT DATA REGARDING COMPARABLE COMPENSATION PACKAGES TO ASSIST IN ESTABLISHING THE COMPENSATION OF DISQUALIFIED EMPLOYEES. THE PROPOSED COMPENSATION FOR EACH DISQUALIFIED PERSON WILL BE APPROVED BY A CONFLICT-FREE DECISION-MAKING BODY COMPOSED OF MEMBERS OF THE GRINNELL COLLEGE BOARD OF TRUSTEES. THE DECISION-MAKING BODY WILL RECEIVE A REBUTTABLE PRESUMPTION SUMMARY FOR EACH INDIVIDUAL AT GRINNELL COLLEGE IDENTIFIED AS A DISQUALIFIED PERSON. ALL RELEVANT INFORMATION WILL BE DOCUMENTED REGARDING THE ACTIONS OF THE DECISION-MAKING BODY. THIS PROCESS WAS USED FOR THE FOLLOWING POSITIONS: PRESIDENT, CHIEF INVESTMENT OFFICER, VICE-PRESIDENT FOR FINANCE & TREASURER, VICE-PRESIDENT FOR STRATEGIC PLANNING & CHIEF OF STAFF, VICE-PRESIDENT FOR COMMUNICATIONS, VICE-PRESIDENT FOR ENROLLMENT, VICE-PRESIDENT FOR STUDENT AFFAIRS, VICE-PRESIDENT FOR COLLEGE SERVICES, VICE-PRESIDENT FOR DEVELOPMENT AND ALUMNI RELATIONS, SECRETARY, DEAN OF THE COLLEGE, FORMER DEAN OF THE COLLEGE, CONTROLLER & ASSISTANT TREASURER, DIRECTOR OF COMPENSATION & ASSISTANT TREASURER, DIRECTOR OF INVESTMENTS, DIRECTOR OF STUDENT FINANCIAL AID AND DIRECTOR OF FACILITIES MANAGEMENT. THE LAST REVIEW WAS CONDUCTED FOR COMPENSATION EFFECTIVE JULY 1, 2014. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 990 IS AVAILABLE ON THE GRINNELL COLLEGE WEBSITE. FORM 990T IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE COLLEGE MAKES ITS ARTICLES OF INCORPORATION, BYLAWS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND OTHER KEY POLICIES (RED FLAG, WHISTLEBLOWER, ETC) AVAILABLE TO THE PUBLIC VIA ITS WEBSITE-WWW.GRINNELL.EDU. FORM 990, PART XI, LINE 9: CHANGE IN ACCUMULATED POST RETIREMENT OBLIGATION -2,097,432. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 2,242,312. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 21,691. SCHEDULE B: GRINNELL COLLEGE BEGAN RECORDING PLEDGES IN ITS AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2014. AS SUCH, SCHEDULE B HAS ALSO BEEN ADJUSTED FOR PLEDGES RECEIVABLE SO THESE GIFTS ARE CONSISTENTLY REPORTED AS OF JUNE 30, 2014. GRINNELL COLLEGE MEDICAL BENEFIT PLAN TRUST 733 BROAD STREET GRINNELL IA 501121690 451371997 HEALTH INSURANCE FOR EMPLOYEES AND RETIREES IA 501(C)(9) N/A TRUSTEES OF GRINNELL COLLEGE 1 RED ROCK VENTURES III LP 530 LYTTON AVENUE 2ND FLOOR PALO ALTO CA 94301 770549159 VENTURE CAPITAL DE N/A INVESTMENT -145136 391028 0 0 0.59100 POWESHIEK PETROLEUM CORPORATION 733 BROAD STREET GRINNELL IA 50112 730646866 OIL & GAS PRODUCTION IL TRUSTEES OF GRINNELL COLLEGE C 54001 33279 1.00000 1 CHARITABLE REMAINDER UNITRUSTS (1) TRUST CA N/A T 0 CHARITABLE REMAINDER UNITRUSTS (20) TRUST IA N/A T 0 CHARITABLE REMAINDER UNITRUSTS (1) TRUST IL N/A T 0 CHARITABLE REMAINDER UNITRUSTS (1) TRUST MN N/A T 0 CHARITABLE REMAINDER UNITRUSTS (1) TRUST MO N/A T 0 CHARITABLE REMAINDER ANNUITY TRUSTS (2) TRUST IA N/A T 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 GRINNELL COLLEGE MEDICAL BENEFIT PLAN TRUST R 7821761 CASH TRANSFERRED CHARITABLE REMAINDER UNITRUSTS S 5872745 CASH TRANSFERRED CHARITABLE REMAINDER ANNUITY TRUST S 3046659 CASH TRANSFERRED