2026-04-15T18:44:10-05:00 2025-05-31 430765316 RUBINBROWN LLP 1200 MAIN STREET SUITE 1000 KANSAS CITY MO 64105 990 2024-06-01 420707114 GRACELAND UNIVERSITY GRAC 6417845051 1 UNIVERSITY PLACE LAMONI IA 501401641 JENNIFER A MATNEY VP OF BUSINESS AND FINANCE 6417845051 2026-03-31 1 1 KIMBERLY A RYAN P00829977 8164721122 2024 2025-03-06 01:10:19Z JOEL SHROCK 1 UNIVERSITY PLACE LAMONI IA 501401641 42545659 0 X WWW.GRACELAND.EDU X 1895 IA SEE SCHEDULE OTHE PRIMARY MISSION OF GRACELAND UNIVERSITY IS TO BE A LEARNING COMMUNITY, WHERE STUDENTS DEVELOP THEIR POTENTIAL FOR MEANINGFUL AND PRODUCTIVE LIVES THROUGH INTELLECTUAL, PHYSICAL, SOCIAL AND SPIRITUAL GROWTH. 22 21 975 1100 1151 0 7510496 6771734 37658996 29079750 1670829 2046008 2583 1444 46842904 37898936 17683657 8575429 0 0 18078692 18934253 0 0 1898308 21201162 23052076 56963511 50561758 -10120607 -12662822 117507672 112705823 26277028 35522630 91230644 77183193 X SEE SCHEDULE OTHE PRIMARY MISSION OF GRACELAND UNIVERSITY IS TO BE A LEARNING COMMUNITY, WHERE STUDENTS DEVELOP THEIR POTENTIAL FOR MEANINGFUL AND PRODUCTIVE LIVES THROUGH INTELLECTUAL, PHYSICAL, SOCIAL AND SPIRITUAL GROWTH. THIS MISSION IS GUIDED BY THE BELIEF THAT THE CURRICULUM OF GRACELAND UNIVERSITY SHOULD BE FIRMLY ROOTED IN THE BEST LIBERAL ARTS TRADITION, ENHANCED BY PRACTICAL EXPERIENCES THAT PREPARE STUDENTS FOR SUCCESSFUL CAREERS. AS AN INSTITUTION DEDICATED TO THE WORTH OF ALL PERSONS, AS A PART OF ITS MISSION, GRACELAND UNIVERSITY ENDEAVORS TO FOSTER CHRISTIAN VALUES IN HARMONY WITH THE COMMUNITY OF CHRIST, ITS SPONSORING CHURCH. TO ACHIEVE ITS MISSION, GRACELAND UNIVERSITY RELIES UPON AN INSIGHTFUL AND INSPIRED ADMINISTRATION, A COMPETENT AND DEDICATED FACULTY, A COMPASSIONATE AND CARING STAFF, AND INQUIRING STUDENTS COMMITTED TO PARTICIPATE IN THE PROCESS OF LIFE-LONG LEARNING. 0 0 13345236 22030429 EDUCATIONAL PROGRAMS, GENERAL/OTHER: GRACELAND PRODUCES A LIBERAL ARTS EDUCATION OFFERED TO STUDENTS IN TRADITIONAL ON-CAMPUS PROGRAMS AND VIA DISTANCE LEARNING FORMATS. 27 UNDERGRADUATE MAJORS, 6 MASTERS DEGREES WITH 11 AREAS OF CONCENTRATION, 7 GRADUATE CERTIFICATE PROGRAMS AND 2 DOCTORATE PROGRAMS ARE OFFERED. GRACELAND UNIVERSITY IS ACCREDITED BY THE HIGHER LEARNING COMMISSION. ACADEMIC SUPPORT INCLUDES ACCREDITATION AND ASSESSMENT ACTIVITIES, LIBRARIES, AND INSTRUCTIONAL TECHNOLOGY SUPPORT. (1,127 FTE) 20935792 7049321 STUDENT SERVICES PROGRAMS, GENERAL/OTHER/AUXILLIARY: STUDENT SERVICES ENCOMPASSES CULTURAL AND SOCIAL ACTIVITIES FOR STUDENTS, INCLUDING STUDENT GOVERNMENT AND INTERCOLLEGIATE ATHLETICS. ALSO INCLUDED ARE OFFICES PROVIDING STUDENT SERVICE SUPPORT SUCH AS ADMISSIONS, REGISTRAR, AND OTHERS. AUXILLIARY SERVICES INCLUDE THE UNIVERSITY BOOKSTORE, FOOD SERVICES, RESIDENCE HALLS, AND SNACK SHOP AND VENDING ACTIVITIES. 8575429 8575429 STUDENT FINANCIAL AID PROGRAMS: SCHOLARSHIPS, GRANTS AND OTHER STUDENT FINANCIAL ASSISTANCE WERE RECEIVED BY 99% OF OUR RESIDENTIAL STUDENTS AND BY 93% AND 78% OF OUR ONLINE UNDERGRADUATE AND GRADUATE STUDENTS, RESPECTIVELY. FUNDING IS PROVIDED THROUGH INSTITUTIONAL SOURCES, GOVERNMENT GRANT PROGRAM ADMINISTERED BY THE UNIVERSITY, OR GOVERNMENT-SPONSORED LOAN PROGRAMS. 732430 TRIO GRANT PROGRAMS WHICH ARE ALL FUNDED BY GOVERNMENT GRANTS. 732430 43588887 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 0 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 1 0 0 0 1 1598 0 1 975 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 21 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X SHERRI BRENIZER 6417845051 1 UNIVERSITY PLACE LAMONI IA 501401641 X JENNIFER MATNEY VP - BUSINESS AND FINANCE 50.00 3.50 X 121086 0 5049 MIKE WILEY TRUSTEE/CHAIR 12.00 2.00 X X 0 0 0 JOSEPH BOOZ TRUSTEE/VICE CHAIR - UNTIL 8/24 5.00 X X 0 0 0 LOUANN MUIR-HUTCHINSON TRUSTEE/VICE CHAIR - AS OF 8/24 18.00 2.00 X 0 0 0 RYAN WATSON TRUSTEE/SECRETARY - UNTIL 8/24 2.00 X X 0 0 0 MIKE SEAGRAVES TRUSTEE/SECRETARY - AS OF 8/24 5.00 X 0 0 0 JAY COOK TRUSTEE/TREASURER 2.00 2.00 X 0 0 0 SAM SMALLDON TRUSTEE/TREASURER 4.00 X 0 0 0 HOLLY CASKEY TRUSTEE 5.00 X 0 0 0 JOHN GODFREY TRUSTEE 5.00 X 0 0 0 STEVEN GRAFFEO TRUSTEE 2.00 X 0 0 0 RON HARMON TRUSTEE 0.50 50.00 X 0 0 0 GWENDOLYN HAWKS-BLUE TRUSTEE 0.00 X 0 0 0 EMILY HUGHES TRUSTEE 1.00 X 0 0 0 VINCENT E LEWIS TRUSTEE 0.00 X 0 0 0 JIM LYSINGER TRUSTEE 4.00 X 0 0 0 ALEKSANDAR MEMCA TRUSTEE 5.00 2.00 X 0 0 0 RANDALL E PRATT TRUSTEE 6.00 X 0 0 0 JULIA SNETHEN TRUSTEE 3.00 X 0 0 0 JOHN WHITEHURST TRUSTEE 2.00 X 0 0 0 STEPHANIE WINTERS MCCONNELL TRUSTEE 2.00 X 0 0 0 TOYIA K YOUNGER TRUSTEE 1.00 X 0 0 0 JOEL SHROCK VP - AA/ PRESIDENT AS OF 7/24 50.00 12.00 X 226653 0 40468 PAT DRAVES PRESIDENT - UNTIL 7/24 70.00 X 185033 0 15013 KRISTI HETTRICK VP - INSTITUTIONAL ADVANCEMENT 40.00 X 165560 0 22184 DEB SKINNER VP - ENROLLMENT 60.00 X 108953 0 9075 DAVE SCHAAL VP - STUDENT LIFE 60.00 X 91675 0 5399 LEIGH MURRAY DIRECTOR DPT PROGRAM 50.00 X 124562 0 24125 TALIA BROWN CIO 60.00 X 107671 0 30899 REBECCA REISCH PROFESSOR OF DPT 50.00 X 102995 0 13387 JENNA WILCOX PROFESSOR OF NURSING 50.00 X 100799 0 4691 1334987 0 170290 9 0 1 0 SODEXO INC & AFFILIATES 1 UNIVERSITY PLACE LAMONI IA 50140 FOOD SERVICES 2840253 DRIVESTREAM INC PO BOX 780071 PHILADELPHIA PA 17179 SOFTWARE IMPLEMENTATION 1733126 P1 SERVICE PO BOX 69645 BALTIMORE MD 21264 FACILITY MAINTENANCE 702740 VISIONPOINT MARKETING LLC PO BOX 749717 ATLANTA GA 30374 MEDIA/MARKETING 558720 SCHUMACHER ELEVATOR COMPANY BOX 393 ONE SCHUMACHER WAY DENVER IA 50622 ELEVATOR MAINTENANCE 339745 32 9514 500000 1762280 4499940 402688 6771734 TUITION AND FEES 611310 22030429 22030429 AUXILIARY ENTERPRISES 611310 6561486 6561486 487835 487835 29079750 191428 191428 1151 1151 6493096 4638516 1854580 1854580 1854580 8500 9514 8207 293 293 37898936 29079750 1151 2046301 X 8575429 8575429 963930 675544 288386 14975412 13018130 1281101 676181 277552 253854 17015 6683 1713339 1462779 167810 82750 1004020 825086 119914 59020 314947 43914 242658 28375 212953 27053 185900 47893 47893 9995241 8786491 903670 305080 1268209 838778 355110 74321 2613145 2184480 280152 148513 1230789 1156072 54176 20541 1114548 939957 79388 95203 856363 788473 49938 17952 3097759 2905079 139709 52971 1331956 1144388 171226 16342 MEMBERSHIPS 298715 204239 90515 3961 ACCRETION AND MISCELLAN 284868 79441 187540 17887 COLLECTION EXPENSE 170725 163353 7372 PROFESSIONAL DEVELOPMEN 148127 128667 15832 3628 65838 63224 2100 514 50561758 43588887 5074563 1898308 6000 2300 217796 53863 4693588 4436660 942955 1232323 277985 248201 1229034 1169917 140304444 83037423 57350626 57267021 6749947 7165937 42959383 36680263 165301 211375 585150 2150538 2329907 2087425 117507672 112705823 2730034 4881156 2598267 2663778 15055226 14406215 521478 534510 4377346 4288488 201912 212216 792765 8536267 26277028 35522630 X 44075029 31698169 47155615 45485024 91230644 77183193 117507672 112705823 X -12662822 463334 -1847963 X 0 1 X 1 1 1 X 18014975 17163068 13828938 7510496 6771734 63289211 18014975 17163068 13828938 7510496 6771734 63289211 12297547 50991664 187816 106970 217662 188351 192579 893378 3099 2509 4410 1223 293 11534 64194123 178922850 0.79430 0.77470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 49294369 1039900 946191 7300173 43980287 52552964 591944 4757234 8607773 49294369 58079158 861111 3074821 9462126 52552964 54744304 460190 5137534 2262870 58079158 42573357 380030 18995716 7204799 54744304 0.17940 0.82060 0 1 1 282972 282972 114559341 59737762 54821579 24266034 23299661 966373 1196097 1196097 57267021 INVESTMENTS IN RELATED ENTITY - THE CENTER 6524239 C POOLED INVESTMENTS 30156024 F 36680263 ANNUITIES PAYABLE 536267 LINE OF CREDIT FROM RELATED PARTY 8000000 8536267 47574738 463334 640 18335150 18799124 28775614 47893 9075429 9123322 37898936 61622189 640 19683113 19683753 41938436 47893 8575429 8623322 50561758 PART IV, LINE 2B: STUDENT DEPOSIT ACCOUNTS ARE HELD BY THE UNIVERSITY FOR VARIOUS STUDENT GROUPS ON CAMPUS AND ARE REPORTED AS LIABILITIES ON THE ORGANIZATION'S BALANCE SHEET. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE OF RELATED ENTITY - THE CENTER 17,722,187. OTHER LOSSES AND ADJUSTMENTS 604,756. FUNDRAISING EVENT EXPENSES 8,207. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP/GRANT EXPENSE NETTED TO REVENUE 8,575,429. CONTRIBUTION FROM RELATED ENTITY - THE CENTER 500,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF RELATED ENTITY - THE CENTER 19,674,906. FUNDRAISING EVENT EXPENSES 8,207. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP/GRANT EXPENSE NETTED TO REVENUE 8,575,429. PART V, LINE 4 UNIVERSITY ENDOWMENT FUNDS ARE POOLED WITH AND HELD BY THE SPONSORING CHURCH, COMMUNITY OF CHRIST. ENDOWMENT DISTRIBUTIONS ARE USED FOR SCHOLARSHIP AND PROGRAM EXPENSES. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATION POLICY IS PUBLISHED ON THE UNIVERSITY'S WEBSITE AND IN THE APPLICATION FOR ENROLLMENT FORMS. SEE PART II FOR POLICY. SCHEDULE E, PART I, LINE 6 6A) IN 2024-2025 THE UNIVERSITY RECEIVED GRANTS FROM THE U.S. DEPARTMENT OF EDUCATION (STUDENT SCHOLARSHIPS AND FINANCIAL AID GRANTS) AND THE CORPORATION FOR NATIONAL AND COMMUNITY SERVICES (VOLUNTEER GRANTS). THE UNIVERSITY ALSO RECEIVED FUNDS FROM THE DEPARTMENT OF EDUCATION FOR TRIO PROGRAM FUNDING. 6B) BASED ON THE DEPARTMENT OF EDUCATION RULING IN 1999, FEDERAL LOANS WERE NOT AWARDED TO STUDENTS IN OUR DISTANCE LEARNING (OUTREACH) PROGRAM BETWEEN 1999 AND DECEMBER 2003. THE PROGRAM WAS MODIFIED AND ONCE AGAIN APPROVED FOR TITLE IV ELIGIBILITY DURING THE 03-04 FISCAL YEAR. SCHEDULE E, LINE 3 IT IS THE POLICY OF GRACELAND UNIVERSITY TO EXTEND EQUAL OPPORTUNITIES TO ALL APPLICANTS FOR EMPLOYMENT, TO ALL EMPLOYEES SEEKING ADVANCEMENT, AND TO ALL STUDENTS APPLYING FOR ENROLLMENT WHO MEET BASIC CRITERIA ESTABLISHED. IT IS FURTHER THE POLICY OF GRACELAND UNIVERSITY NOT TO DISCRIMINATE AGAINST ANY EMPLOYEE, PROSPECTIVE EMPLOYEE, STUDENT, OR PROSPECTIVE STUDENT ON THE BASIS OF RACE, COLOR, RELIGION, AGE, SEX, NATIONAL ORIGIN, SEXUAL ORIENTATION, OR DISABILITY. GRACELAND UNIVERSITY IS COMMITTED TO THE ELIMINATION OF THOSE CONDITIONS AND ATTITUDES FROM WHICH DISCRIMINATION IS SPAWNED AND DESIRES TO GIVE LEADERSHIP IN SOLVING THOSE PROBLEMS THAT IMPEDE THE BROAD APPLICATION OF JUSTICE AND EQUITY IN ALL HUMAN RELATIONSHIPS. A UNIVERSITY WITH A CHRISTIAN COMMISSION HAS A MANDATE TO SEARCH FOR AND APPLY THESE PRINCIPLES OF FAIRNESS IN ALL ASPECTS OF ITS OPERATION OVER AND ABOVE ITS LEGAL OBLIGATION TO COMPLY WITH THE TENETS OF EQUAL OPPORTUNITY REQUIREMENTS. GOLF CLASSIC - INDEPENDENCE 18014 9514 8500 8207 18014 9514 8500 8207 8207 293 1 ACADEMIC SCHOLARSHIPS 460 3081189 SCHOLARSHIPS - ADDITIONAL 196 348148 SEOG 287 275284 GRANTS IN AID 691 4846308 LEADERSHIP GRANTS 25 24500 PART I, LINE 2: SCHOLARSHIPS/GRANTS ARE PROVIDED TO STUDENTS THROUGH FINANCIAL AID, BASED ON FINANCIAL NEED AND FEDERAL OR STATE MANDATED REGULATIONS. DONOR RESTRICTED SCHOLARSHIPS ARE ALSO MONITORED AND DISTRIBUTED THROUGH FINANCIAL AID PROCESSES TO COVER EDUCATIONAL EXPENSES ESTIMATED OR CHARGED BY THE UNIVERSITY. X X X X 1 1 X X 0 0 0 0 0 0 0 0 0 JOEL SHROCK VP - AA/ PRESIDENT AS OF 7/24 196153 0 0 0 30500 0 10110 0 30358 0 267121 0 0 0 PAT DRAVES PRESIDENT - UNTIL 7/24 169783 0 0 0 15250 0 8333 0 6680 0 200046 0 0 0 KRISTI HETTRICK VP - INSTITUTIONAL ADVANCEMENT 155265 0 0 0 10295 0 7721 0 14463 0 187744 0 0 0 PART I, LINE 1A: THE PRESIDENT'S SPOUSE ACCOMPANIES THEM TO CERTAIN EVENTS WHEN DEEMED NECESSARY FOR THE GOOD OF THE UNIVERSITY. THERE WAS NO SPOUSAL TRAVEL INCLUDED IN THE PRESIDENT'S COMPENSATION DURING THE YEAR. THE PRESIDENT HAS AUTHORITY OVER THEIR OFFICE BUDGET, BUT NO FUNDS ARE AVAILABLE TO THEM FOR PERSONAL USE. THE PRESIDENT IS PROVIDED A RESIDENCE WHICH IS USED FOR UNIVERSITY FUNCTIONS. THE FAIR MARKET VALUE RENTAL OF $21,000 PER YEAR AND HOUSEKEEPING SERVICES IS INCLUDED IN THE RENTAL VALUE. THE VALUE OF UTILITIES/MAINTENANCE/OTHER PROVIDED OF $10,009 IS INCLUDED AS NONTAXABLE BENEFITS ON SCHEDULE J, PART II, COLUMN (D). A IOWA FINANCE AUTHORITY 521699886 000000000 2021-10-31 16900000 REFUND PRIOR ISSUE (12/30/13) 0 0 0 A 2250000 16900000 1284 296900 16601816 2009 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 1 0 0 0 0 1 A 1 SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: (A) ISSUER NAME: IOWA FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 04/13/2022 NOTE REGARDING THE REBATE COMPUTATION: SINCE THE BOND PROCEEDS HAVE BEEN SPENT, A SPENDING EXCEPTION WAS MET, AND THE DEBT SERVICE FUND WAS OPERATED ON A BONA FIDE BASIS, NO FURTHER REBATE CALCULATIONS ARE NECESSARY. JAMES SHROCK INTERESTED PERSONS AND FAMILY MEMBERS 1860 DISCOUNTED TUITION JEFFREY DRAVES SPOUSE OF OFFICER 31727 MR. DRAVES 0 KELLY SHROCK SPOUSE OF OFFICER 60000 MRS. SCHROCK 0 RANDALL PRATT TRUSTEE 30590 MR. PRATT 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS (A) NAME OF PERSON: JEFFREY DRAVES(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: SPOUSE OF OFFICER, PATRICIA DRAVES(D) DESCRIPTION OF TRANSACTION: MR. DRAVES IS AN EMPLOYEE OF THE UNIVERSITY AND RECEIVED COMPENSATION OF $31,727 DURING THE YEAR. SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS (A) NAME OF PERSON: KELLY SHROCK(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: SPOUSE OF OFFICER, JOEL SHROCK(D) DESCRIPTION OF TRANSACTION: MRS. SHROCK IS AN EMPLOYEE OF THE UNIVERSITY AND RECEIVED COMPENSATION OF $60,000 DURING THE YEAR. SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS (A) NAME OF PERSON: RANDALL PRATT(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: TRUSTEE ON THE BOARD OF DIRECTORS(D) DESCRIPTION OF TRANSACTION: MR. PRATT IS A TRUSTEE ON THE BOARD OF DIRECTORS AND HAS ENTERED INTO A LEASE AGREEMENT WITH THE UNIVERSITY. CASH RENT FOR CALENDAR YEAR 2025 IS PRORATED AND A TOTAL OF $30,589.60. X 2232 FMV X 9 393819 FMV X TRAVEL EXPENSES 1 3069 FMV X STEREO TAPE DECK 1 1623 FMV X AUCTION ITEMS 2 1305 FMV X 4 HOURS OF CRANE SERVICES 1 640 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION'S MEMBERS CONSIST OF THOSE PERSONS COMPRISING THE FIRST PRESIDENCY OF COMMUNITY OF CHRIST (THE "CHURCH"), THE PRESIDING BISHOPRIC OF THE CHURCH, AND THE PRESIDENT OF THE COUNCIL OF TWELVE APOSTLES OF THE CHURCH, SUCH PERSONS BEING A SINGLE CLASS OF MEMBERS THAT IS COLLECTIVELY REFERRED TO HEREIN AS THE "CORPORATE BODY" OF THE CHURCH. THE CORPORATE BODY SHALL ACT BY A MAJORITY VOTE. FORM 990, PART VI, SECTION A, LINE 7A PER THE ARTICLES AND BYLAWS, THE BOARD MAY CONSIST OF UP TO 21 MEMBERS: - UP TO 7 TRUSTEES ARE ELECTED BY THE WORLD CONFERENCE OF THE COMMUNITY OF CHRIST - UP TO 7 TRUSTEES MAY BE ELECTED BY THE CORPORATE BODY - UP TO 7 TRUSTEES MAY BE ELECTED BY THE BOARD OF TRUSTEES A TRUSTEE ELECTED BY THE CORPORATE BODY OR WORLD CONFERENCE MAY BE REMOVED FROM OFFICE AT ANY TIME, WITH OR WITHOUT CAUSE, BY THE RESPECTIVE BODY THAT ELECTED THE TRUSTEE. DURING THE PERIOD BETWEEN THE WORLD CONFERENCES, THE CORPORATE BODY MAY ACT ON BEHALF OF THE WORLD CONFERENCE AND REMOVE ANY TRUSTEE ELECTED BY THE WORLD CONFERENCE. TRUSTEES ELECTED BY THE FULL BOARD OF TRUSTEES MAY BE REMOVED FROM OFFICE AT ANY TIME, WITH OR WITHOUT CAUSE, BY AN AFFIRMATIVE VOTE OF TWO-THIRDS OF THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B UPON COMPLETION, BUT PRIOR TO FILING, THE PREPARED FORM 990 IS PROVIDED TO TRUSTEES AND OFFICERS THROUGH THE GROUP PORTAL OF MY.GRACELAND FOR THEIR REVIEW. AN IN-DEPTH REVIEW OF THE PREPARED FORM 990 IS CONDUCTED WITH THE BUSINESS SERVICES COMMITTEE OF THE BOARD OF TRUSTEES. CHANGES ARE MADE, IF NEEDED, AND A REVISED FORM 990 IS PROVIDED THROUGH THE GROUP PORTAL OF MY.GRACELAND. THE PREPARED FORM 990 IS SUBMITTED BY THE DUE DATE, (INCLUDING EXTENSION(S)). THE PUBLIC INSPECTION FORM 990 IS AVAILABLE UPON REQUEST, AND ONCE POSTED TO GUIDESTAR, IS AVAILABLE TO THE WORLD. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH BOARD MEMBER AND OFFICER OF THE UNIVERSITY, AND ALL STAFF, TRUSTEES, ADVISORS AND OTHER PERSONS REGULARLY INVITED TO ATTEND MEETINGS OF THE BOARD, SHALL SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON: HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THAT GRACELAND UNIVERSITY IS A TAX-EXEMPT ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX, AND OTHER TAX EXEMPTIONS, IT MUST ENGAGE PRIMARILY AND SOMETIMES EXCLUSIVELY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX EXEMPT PURPOSES. VOTING MEMBERS OF THE BOARD ARE REQUIRED TO DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST. THE REMAINING MEMBERS OF THE BOARD WILL THEN DISCUSS AND DETERMINE IF SUCH A CONFLICT EXISTS, IF IT IS AVOIDABLE, OR IF IT IS IN THE BEST INTEREST OF THE BOARD AND UNIVERSITY TO PROCEED. SHOULD ANY BOARD MEMBER BE FOUND TO BE CONCEALING A CONFLICT OF INTEREST, APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION WILL BE TAKEN. FORM 990, PART VI, SECTION B, LINE 15A THE CHAIRMAN OF THE BOARD WILL WORK WITH OTHER BOARD MEMBERS TO DETERMINE THE COMPENSATION FOR THE PRESIDENT. THE PRESIDENT SETS THE COMPENSATION FOR THE TOP MANAGEMENT AND OFFICERS. VICE PRESIDENTS SET THE COMPENSATION FOR KEY EMPLOYEES, WITH THE APPROVAL OF THE PRESIDENT. IN ALL CASES, COMPARABLE SALARY DATA FROM SIMILAR INSTITUTIONS IS REVIEWED, AS WELL AS A COMPARISON OF POSITIONS WITHIN THE INSTITUTION. ALL COMPENSATION DELIBERATIONS AND DECISIONS ARE CONTEMPORANEOUSLY DOCUMENTED. IN 2014, AN INDEPENDENT COMPENSATION STUDY WAS COMPLETED, AT THE BOARD'S REQUEST, TO ASCERTAIN TARGET RANGES FOR THE FACULTY SALARIES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART VII, SECTION A: GRACELAND UNIVERSITY MAINTAINS A DEFINED BENEFIT RETIREMENT PLAN. INFORMATION WITH REGARD TO THE INCREASE IN ACTUARIAL VALUE IS NOT AVAILABLE ON AN EMPLOYEE BY EMPLOYEE BASIS, AND THEREFORE CANNOT BE REPORTED IN COLUMN (F), OTHER COMPENSATION. EMPLOYEES EARN A BENEFIT WHICH IS 1.1% OF THEIR AVERAGE COMPENSATION FOR THE FIVE HIGHEST PAID YEARS TIMES THE NUMBER OF YEARS OF SERVICE, NOT TO EXCEED 30 YEARS. EFFECTIVE AUGUST 1, 2006, THE DEFINED BENEIFT PLAN WAS CLOSED TO NEW EMPLOYEES. ON SEPTEMBER 30, 2016, THE UNIVERSITY FROZE THE BENEFIT ACCRUAL OF THE DEFINED BENEFIT PLAN. GRACELAND UNIVERSITY RECEIVED AN IRS DETERMINATION LETTER IN DECEMBER 2020 CONFIRMING THAT BOTH THE DEFINED BENEFIT AND DEFINED CONTRIBUTION PLANS HAVE "CHURCH PLAN STATUS AND, THEREFORE, ARE NOT SUBJECT TO ERISA. FORM 990, PART VII, SECTION A: RON HARMON RECEIVED COMPENSATION FROM A RELATED ORGANIZATION FOR HIS POSITION AS PRESIDING BISHOP, FIRST PRESIDENCY COUNSELOR OF COMMUNITY OF CHRIST. FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 8,786,491. MANAGEMENT AND GENERAL EXPENSES 903,670. FUNDRAISING EXPENSES 305,080. TOTAL EXPENSES 9,995,241. FORM 990, PART XI, LINE 9: MINIMUM PENSION LIABILITY ADJUSTMENT 604,756. CHANGES IN NET ASSETS OF RELATED ENTITY - THE CENTER -2,452,719. GRACELAND COLLEGE CENTER FOR PROFESSIONAL DEVELOPMENT AND LIFELONG LEARNING 6900 SQUIBB ROAD MISSION KS 66202 431685651 ADULT EDUCATION/TRAINING MO 501(C)(3) LINE 10 GRACELAND UNIVERSITY 1 COMMUNITY OF CHRIST 1001 W WALNUT STREET INDEPENDENCE MO 64050 440552038 CHURCH MO 501(C)(3) LINE 1 N/A 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 GRACELAND COLLEGE CENTER FOR PROFESSIONAL DEVELOPMENT AND LIFELONG LEARNING K 158514 LEASE AGREEMENT COMMUNITY OF CHRIST Q 75000 CASH RECEIVED FOR TUITION COMMUNITY OF CHRIST P 1152866 CASH PAID FOR INSURANCE GRACELAND COLLEGE CENTER FOR PROFESSIONAL DEVELOPMENT AND LIFELONG LEARNING C 500000 CASH COMMUNITY OF CHRIST E 8000000 LINE OF CREDIT