2024-05-09T14:20:40-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2022-07-01 420680387 THE TRUSTEES OF GRINNELL COLLEGE TRUS 6412699700 733 BROAD STREET GRINNELL IA 501122227 GERMAINE GROSS VP FOR FINANCE & TREASURER 6412699700 2024-05-06 1 GERMAINE GROSS 999009999 0 SARAH HINTZ P00492291 3037795710 2024-04-30 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z GRINNELL COLLEGE GERMAINE GROSS 733 BROAD STREET GRINNELL IA 501122227 1295249115 0 X WWW.GRINNELL.EDU X 1846 IA TO EDUCATE STUDENTS IN THE LIBERAL ARTS THROUGH FREE INQUIRY AND THE OPEN EXCHANGE OF IDEAS. 28 26 2514 1454 -9444822 0 16685086 16723721 120958034 125562938 210484205 218746047 3067669 3413719 351194994 364446425 67634263 69009919 0 0 86477948 94429590 67660 13544 6704505 58122635 73370686 212302506 236823739 138892488 127622686 2988511926 3023180797 278738530 278805066 2709773396 2744375731 X SEE SCHEDULE O 0 0 121205399 67722470 102621268 INSTRUCTIONAL PROGRAMS AT THE PRIVATE 4-YEAR RESIDENTIAL COLLEGE INCLUDE THE LIBERAL ARTS AND SCIENCES. GRINNELL OFFERS A BACHELOR OF ARTS IN 27 MAJOR FIELDS WITH 16 CONCENTRATIONS AND A 1:9 FACULTY TO STUDENT RATIO. GRINNELL COLLEGE HAS APPROXIMATELY 1,700 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 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 NEARLY 20 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 INSTITUTE FOR GLOBAL ENGAGEMENT 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. 33381048 470068 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. 30808320 817381 713301 STUDENT SERVICES INCLUDES REGISTRATION, COUNSELING, ADMISSION AND FINANCIAL AID, HEALTH SERVICES, INTERCOLLEGIATE ATHLETICS, LECTURES, CONVOCATIONS AND OTHER STUDENT PROGRAMS. 21162983 22228369 OTHER PROGRAM SERVICES INCLUDE AUXILIARY ENTERPRISES SUCH AS HOUSING AND FOOD SERVICE. 21162983 22228369 206557750 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 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 1 1 1 1 1 0 1 X 2164 0 1 2514 1 1 1 0 0 0 0 0 0 0 0 0 1 1 X 28 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 1 0 CA MA MI NY SC X GERMAINE GROSS 6412699700 733 BROAD STREET GRINNELL IA 50112 MICHAEL B KAHN TRUSTEE & CHAIR 7.00 0.00 X X 0 0 0 ANGELA ONWUACHI-WILLIG TRUSTEE & VICE CHAIR 4.00 0.00 X X 0 0 0 SHERYL WALTER TRUSTEE & VICE CHAIR 4.00 0.00 X X 0 0 0 R CHRISTINA CUTLIP TRUSTEE 3.00 0.00 X 0 0 0 MATTHEW E WELCH TRUSTEE 3.00 0.00 X 0 0 0 ODILE DISCH-BHADKAMKAR TRUSTEE 2.00 0.00 X 0 0 0 JEETANDER DULANI TRUSTEE 2.00 0.00 X 0 0 0 SHELLEY FLOYD TRUSTEE 3.00 0.00 X 0 0 0 ROBERT GEHORSAM TRUSTEE 2.00 0.00 X 0 0 0 JULIE GOSSELINK TRUSTEE 2.00 0.00 X 0 0 0 JON GRAY TRUSTEE 2.00 0.00 X 0 0 0 GRACIELA GUZMAN TRUSTEE 2.00 0.00 X 0 0 0 KEITH A JANTZEN TRUSTEE 3.00 0.00 X 0 0 0 JOHN H KISPERT TRUSTEE (UNTIL 05/2023) 3.00 0.00 X 0 0 0 BRUCE KOFF TRUSTEE 2.00 0.00 X 0 0 0 KIMBERLY A KUNCL TRUSTEE 2.00 0.00 X 0 0 0 TOBI KLEIN MARCUS TRUSTEE 3.00 0.00 X 0 0 0 DAVID E MAXWELL TRUSTEE 2.00 0.00 X 0 0 0 KATHRYN J MOHRMAN TRUSTEE 2.00 0.00 X 0 0 0 GEORGE E MOOSE TRUSTEE 2.00 0.00 X 0 0 0 JEANNE MYERSON TRUSTEE 3.00 0.00 X 0 0 0 NANCY L RADERMECHER TRUSTEE 2.00 0.00 X 0 0 0 W EDWARD SENN TRUSTEE 3.00 0.00 X 0 0 0 HAM SERUNJOGI TRUSTEE 2.00 0.00 X 0 0 0 KAREN E SHAFF TRUSTEE (UNTIL 05/23) 2.00 0.00 X 0 0 0 JOEL R SPIEGEL TRUSTEE (UNTIL 05/23) 2.00 0.00 X 0 0 0 KRISTIN STOUT TRUSTEE 2.00 0.00 X 0 0 0 ERIC E WHITAKER TRUSTEE 2.00 0.00 X 0 0 0 CONNIE WIMER TRUSTEE 2.00 0.00 X 0 0 0 STEPHEN SANDQUIST TRUSTEE 2.00 0.00 X 0 0 0 LAURA SANDER TRUSTEE 2.00 0.00 X 0 0 0 JAINEN THAYER CHIEF INVESTMENT OFFICER 60.00 0.00 X 1083369 0 71695 ANNE F HARRIS PRESIDENT 60.00 0.00 X 618102 0 152546 GERMAINE GROSS VP FINANCE AND TREASURER 60.00 0.00 X 235893 0 26102 MARGARET JONES BAIR DIRECTOR OF BOARD RELATIONS 50.00 0.00 X 109551 0 36560 JOSEPH P BAGNOLI VP ENROLLMENT & DEAN OF ADMISSION & FIN. AID 60.00 0.00 X 327318 0 57804 ANGELA VOOS COS & VP STRAT. INITIATIVES 60.00 0.00 X 189602 0 19624 ELAINE M MARZLUFF PROFESSOR OF CHEMISTRY 50.00 0.00 X 233400 0 34781 JANA GRIMES VP OF HUMAN RESOURCES 60.00 0.00 X 189488 0 29598 BERONDA L MONTGOMERY DEAN & VP FOR ACADEMIC AFFAIRS 60.00 0.00 X 168728 0 28640 JACI THIEDE UNTIL 022023 VP DEVELOPMENT & ALUMNI RELATIONS 60.00 0.00 X 448841 0 46010 PAIGE L CARLSON ASSOCIATE DIRECTOR OF INVESTMENTS 50.00 0.00 X 261422 0 53194 DAVID ROBINSON CHIEF INFORMATION OFFICER 60.00 0.00 X 282606 0 56369 HENRY W MOYER PROFESSOR OF POLITICAL SCIENCE 50.00 0.00 X 236832 0 32982 VALBONA SCHWAB DEPUTY CHIEF INVESTMENT OFFICER 50.00 0.00 X 602580 0 50131 NANCY L COMBS ASSOCIATE VP FINANCE & ASST. TREASURER 50.00 0.00 X 216067 0 53261 DAVID S CLAY FORMER CHIEF INVESTMENT OFFICER 0.00 0.00 X 525588 0 0 DEBRA LUKEHART FORMER KEY (UNTIL 08/2022) 0.00 0.00 X 134810 0 27563 SCHVALLA RIVERA VP DIVERSITY & INCLUSION - CDO - SR ADVISOR 0.00 0.00 X 194361 0 30569 6058558 0 807429 194 1 1 0 OPN INC 200 5TH AVE SE SUITE 201 CEDAR RAPIDS IA 52401 ARCHITECTURE 4329049 EAGLE CAPITAL 499 PARK AVENUE 17TH FLOOR NEW YORK NY 10022 INVESTMENT MANAGER 1539632 SUMMIT STREET CAPITAL MANAGEMENT LLC 509 MADISON AVE 19TH FLOOR NEW YORK NY 10022 INVESTMENT MANAGER 783743 BARES CAPITAL MANAGEMENT 12600 HILL COUNTRY BLVD STE R-230 AUSTIN TX 78738 INVESTMENT MANAGER 778778 SALAS O'BRIEN NORTH STE A 2720 ARBOR CT EAU CLAIRE WI 54701 ARCHITECTURE 552254 29 2604272 14119449 3822795 16723721 TUITION 611600 102566148 102566148 AUXILIARY SERVICES 611710 21907318 21907318 FEES, SOURCES, & FINES 611710 713301 713301 ALUMNI FEES 611710 321051 321051 INDIRECT COST RECOVERY 611710 1505 1505 53615 53615 125562938 15747048 -9444822 25191870 323506 323506 3475355 3475355 119422 199063 -79641 -79641 -79641 1133274235 4885 930559277 44350 202714958 -39465 202675493 202675493 MISCELLANEOUS REVENUE 900099 18005 18005 18005 364446425 102619763 -9444822 254547763 141128 141128 56965387 56965387 11903404 11903404 3587745 398855 2826706 362184 3601932 1580038 1656646 365248 65203153 57426065 4833335 2943753 5794971 5009280 535619 250072 11342647 10304809 541033 496805 4899142 4055456 594841 248845 1234206 81033 1153173 282199 282199 13544 13544 2867298 1511 2865787 4979873 3228988 1638311 112574 810110 741393 65685 3032 10465181 9769766 170109 525306 4229282 3650709 571701 6872 12771 12771 7380854 6797882 359516 223456 4560235 3438124 524251 597860 1650639 1134558 302029 214052 6368030 6368030 14045716 13636619 252288 156809 980635 980635 INVEST. EXCISE AND UBI 4124029 4124029 AUXILIARY COGS 3505862 3505862 OFF CAMPUS PROGRAM COST 2866187 2866187 SPECIAL PROGRAMS 424201 331521 92680 2583378 2227739 171546 184093 236823739 206557750 23561484 6704505 4191773 4485181 5249804 5512152 2256615 2961325 3920 13277 1175261 1152892 4432637 5467547 615210347 259543639 333488457 355666708 563754160 390081350 2070005782 2254439662 3953517 3400703 2988511926 3023180797 33668691 38949867 4793275 4675659 168761530 163932904 3115978 3119979 60032111 60051422 8366945 8075235 278738530 278805066 X 1863780780 1884890637 845992616 859485094 2709773396 2744375731 2988511926 3023180797 X 127622686 -93279971 259620 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 340926 10910304 0 0 X X X 0 0 1 X 2484418726 4208060 112841771 30729969 64887936 2505850652 2931550076 6186324 -370756701 26743262 55817711 2484418726 2090750442 3632433 924779487 23640134 63972152 2931550076 2069953401 7007029 96291971 23390030 59111929 2090750442 1991605132 3278055 154954634 21720418 58164002 2069953401 0.66900 0.33100 0.00000 0 0 100 4798142 4798242 472359623 189031638 283327985 78805416 59975300 18830116 59247066 10536701 48710365 355666708 10392371 F NON-MARKETABLE ALTERNATIVES 1024229380 F MARKETABLE ALTERNATIVES 1212822500 F OTHER SECURITIES 1120 F BENEFICIAL INTEREST IN TRUSTS 6994291 F 2254439662 ANNUITIES PAYABLE 8075235 8075235 X 192118339 -93279971 248207 -93031764 285150103 11762430 67533892 79296322 364446425 157516004 238528 238528 157277476 11762430 67783833 79546263 236823739 PART III, LINE 4: THE GRINNELL COLLEGE MUSEUM OF ART AND GRINNELL COLLEGE ACQUIRE WORKS OF ART IN THE PUBLIC TRUST FOR STUDY, EXHIBITION, AND ENJOYMENT. THE MUSEUM'S INTENTION IS TO MAINTAIN A COLLECTION, NOT TO SELL IT. THE GOAL OF ANY DEACCESSION IS TO IMPROVE, UPGRADE AND ENHANCE THE COLLECTION; THEREFORE, ANY PROCEEDS REALIZED FROM THE DEACCESSION OF A WORK OF ART FROM THE COLLECTION WILL BE USED TO FUND FUTURE ART ACQUISITIONS RATHER THAN SUPPORT OPERATIONS. 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 INTERNAL REVENUE SERVICE (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. 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, 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 199,063. CHANGE IN VALUE OF LIFE INSURANCE 9,679. LOSS ON DISPOSAL OF FIXED ASSETS 39,465. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANT AND SCHOLARSHIPS 67,212,841. ALUMNI FEES 321,051. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 199,063. LOSS ON DISPOSAL OF FIXED ASSETS 39,465. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT AND SCHOLARSHIPS 67,212,841. ALUMNI FEES 321,051. CHANGE IN VALUE OF POST RETIREMENT BENEFIT OBLIGATION 617,868. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT -367,927. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE COLLEGE'S NONDISCRIMINATION STATEMENTS ARE INCLUDED IN THE ACADEMIC COURSE CATALOG ON THE COLLEGE'S PUBLIC WEBSITE (WWW.GRINNELL.EDU). THE COLLEGE'S NONDISCRIMINATION POLICY IS ALSO POSTED ON THE POLICY SECTION OF THE COLLEGE'S PUBLIC WEBSITE. WITH A STUDENT BODY THAT IS DRAWN FROM AROUND THE WORLD, THE PUBLIC ACCESS TO THE WEBSITE IS THE CLEAREST AND MOST FAR REACHING MEANS OF MAKING THE COLLEGE'S NONDISCRIMINATION POLICY WIDELY KNOWN AND AVAILABLE. THE NONDISCRIMINATORY POLICY IS LINKED TO THE WEBSITE HOMEPAGE AND FREELY AVAILABLE. SCHEDULE E, PART I, LINE 6 FINANCIAL AID RECEIVED WERE PELL GRANTS, SEOG, AND OTHER GRANTS FOR STUDENTS. GRINNELL COLLEGE ALSO RECEIVED NSF, NEH, AND FEMA FUNDING. 1 CENTRAL AMERICA & CARIBBEAN 0 0 GRANTS 593606 EAST ASIA & THE PACIFIC 0 0 GRANTS 3519527 EUROPE 0 0 GRANTS 1341455 MIDDLE EAST & NORTH AFRICA 0 0 GRANTS 512540 NORTH AMERICA 0 0 GRANTS 141083 RUSSIA AND NEIGHBORING STATES 0 0 GRANTS 590325 SOUTH AMERICA 0 0 GRANTS 1311269 SOUTH ASIA 0 0 GRANTS 3131662 SUB-SAHARAN AFRICA 0 0 GRANTS 761937 EUROPE 0 0 INVESTMENTS (BOOK VALUE) 37318007 SUB-SAHARAN AFRICA 0 0 INVESTMENTS (BOOK VALUE) 49320467 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS (BOOK VALUE) 859722569 SOUTH ASIA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 16763 CENTRAL AMERICA & CARIBBEAN 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 21608 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 187332 EUROPE 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 447318 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 12754 NORTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 50611 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 2454 SOUTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 76745 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 22833 0 0 0 0 0 0 11141467 947961398 959102865 AWARD SOUTH ASIA 2 40000 CHECK FELLOWSHIP SUB-SAHARAN AFRICA 6 10854 CHECK FELLOWSHIP SOUTH ASIA 24 56873 CHECK FELLOWSHIP SOUTH AMERICA 9 23042 CHECK FELLOWSHIP RUSSIA AND NEIGHBORING STATES 4 7069 CHECK FELLOWSHIP NORTH AMERICA 2 3400 CHECK FELLOWSHIP MIDDLE EAST AND NORTH AFRICA 3 1399 CHECK FELLOWSHIP EUROPE 19 35317 CHECK FELLOWSHIP EAST ASIA AND THE PACIFIC 66 150012 CHECK FELLOWSHIP CENTRAL AMERICA AND THE CARIBBEAN 5 5430 CHECK INTERNSHIP SUB-SAHARAN AFRICA 3 8380 CHECK INTERNSHIP EUROPE 8 27241 CHECK INTERNSHIP MIDDLE EAST AND NORTH AFRICA 3 12000 CHECK INTERNSHIP NORTH AMERICA 2 6710 CHECK INTERNSHIP RUSSIA AND NEIGHBORING STATES 1 979 CHECK INTERNSHIP SOUTH AMERICA 5 26577 CHECK INTERNSHIP SOUTH ASIA 10 60930 CHECK INTERNSHIP EAST ASIA AND THE PACIFIC 21 72541 CHECK INTERNSHIP CENTRAL AMERICA AND THE CARIBBEAN 2 13924 CHECK PRIZES SOUTH ASIA 10 4325 CHECK PRIZES SOUTH AMERICA 5 5150 CHECK PRIZES RUSSIA AND NEIGHBORING STATES 3 450 CHECK PRIZES NORTH AMERICA 4 1000 CHECK PRIZES CENTRAL AMERICA AND THE CARIBBEAN 1 1700 CHECK PRIZES MIDDLE EAST AND NORTH AFRICA 1 900 CHECK PRIZES EUROPE 5 3850 CHECK PRIZES SUB-SAHARAN AFRICA 1 1000 CHECK PRIZES EAST ASIA AND THE PACIFIC 15 14025 CHECK SCHOLARSHIPS NORTH AMERICA 3 129973 CREDIT TO STUDENT ACCOUNT SCHOLARSHIPS EUROPE 22 1275047 CREDIT TO STUDENT ACCOUNT SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 9 498241 CREDIT TO STUDENT ACCOUNT SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES 9 581827 CREDIT TO STUDENT ACCOUNT SCHOLARSHIPS SOUTH AMERICA 22 1256500 CREDIT TO STUDENT ACCOUNT SCHOLARSHIPS SOUTH ASIA 64 2969534 CREDIT TO STUDENT ACCOUNT SCHOLARSHIPS SUB-SAHARAN AFRICA 11 741704 CREDIT TO STUDENT ACCOUNT SCHOLARSHIPS EAST ASIA AND THE PACIFIC 75 3282949 CREDIT TO STUDENT ACCOUNT SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 9 572552 CREDIT TO STUDENT ACCOUNT 1 1 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. PART III, COL (C): FOR PURPOSES OF THIS REPORT, THE COLLEGE RELIES ON ITS INTERNAL FINANCIAL SYSTEM SOFTWARE TO REPORT AID BY THE RECIPIENTS' COUNTRY OF RESIDENCE. PART III ACCOUNTING METHOD: 1 CITY OF GRINNELL 520 4TH AVENUE GRINNELL IA 50112 426004734 GOV 10000 0 N/A N/A GENERAL SUPPORT GREATER POWESHIEK COMMUNITY FOUNDATION 1510 PENROSE ST GRINNELL IA 50112 421298055 501(C)(3) 20124 0 N/A N/A GENERAL SUPPORT GRINNELL AREA CHAMBER OF COMMERCE 833 4TH AVENUE GRINNELL IA 50112 420286455 501(C)(6) 9235 0 N/A N/A GENERAL SUPPORT GRINNELL NEWBURG COMMUNITY SCHOOLS 925 BROAD STREET GRINNELL IA 50112 426036570 GOV 6658 0 N/A N/A GENERAL SUPPORT GRINNELL COMMUNITY DAYCARE 1436 PENROSE STREET GRINNELL IA 50112 420947994 501(C)(3) 6500 0 N/A N/A GENERAL SUPPORT FOUR OAKS FAMILY AND CHILDREN'S SERVICES 5400 KIRKWOOD BLVD SW CEDAR RAPIDS IA 52404 420998726 501(C)(3) 7000 0 N/A N/A GENERAL SUPPORT GRINNELL AREA ARTS COUNCIL PO BOX 657 GRINNELL IA 50112 421130693 501(C)(3) 5900 0 N/A N/A GENERAL SUPPORT GRINNELL REGIONAL MEDICAL CENTER 210 4TH AVENUE GRINNELL IA 50112 420933383 501(C)(3) 30100 0 N/A N/A GENERAL SUPPORT GRINNELL UNITED WAY FUND INC PO BOX 121 GRINNELL IA 50112 237120759 501(C)(3) 5100 0 N/A N/A GENERAL SUPPORT GRINNELL VOLUNTEER FIRE ASSOCIATION 1020 SPRING STREET GRINNELL IA 50112 461055210 501(C)(3) 8633 0 N/A N/A GENERAL SUPPORT LINK INC 1510 PENROSE ST GRINNELL IA 50112 842131856 501(C)(3) 7244 0 N/A N/A GENERAL SUPPORT 10 1 SCHOLARSHIP 1415 55922794 N/A N/A PRIZES 75 111057 N/A N/A FELLOWSHIP 275 565868 N/A N/A INTERNSHIP 83 284418 N/A N/A AWARDS 2 80000 N/A N/A LOAN PAYMENTS 1 1250 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 1 1 0 0 0 0 0 1 1 1 JAINEN THAYER CHIEF INVESTMENT OFFICER 540970 0 541433 0 966 0 30500 0 41195 0 1155064 0 0 0 ANNE F HARRIS PRESIDENT 572780 0 26500 0 18822 0 30500 0 122046 0 770648 0 0 0 VALBONA SCHWAB DEPUTY CHIEF INVESTMENT OFFICER 401950 0 200000 0 630 0 23800 0 26331 0 652711 0 0 0 DAVID S CLAY FORMER CHIEF INVESTMENT OFFICER 0 0 0 0 525588 0 0 0 0 0 525588 0 259000 0 JACI THIEDE UNTIL 022023 VP DEVELOPMENT & ALUMNI RELATIONS 339155 0 108240 0 1446 0 30500 0 15510 0 494851 0 0 0 JOSEPH P BAGNOLI VP ENROLLMENT & DEAN OF ADMISSION & 246913 0 78151 0 2254 0 30845 0 26959 0 385122 0 0 0 DAVID ROBINSON CHIEF INFORMATION OFFICER 214565 0 67650 0 391 0 28823 0 27546 0 338975 0 0 0 PAIGE L CARLSON ASSOCIATE DIRECTOR OF INVESTMENTS 247286 0 0 0 14136 0 26795 0 26399 0 314616 0 0 0 HENRY W MOYER PROFESSOR OF POLITICAL SCIENCE 227217 0 6608 0 3007 0 23567 0 9415 0 269814 0 0 0 NANCY L COMBS ASSOCIATE VP FINANCE & ASST. TREASUR 187775 0 26382 0 1910 0 21971 0 31290 0 269328 0 0 0 ELAINE M MARZLUFF PROFESSOR OF CHEMISTRY 216089 0 7566 0 9745 0 23483 0 11298 0 268181 0 0 0 GERMAINE GROSS VP FINANCE AND TREASURER 180456 0 29441 0 25996 0 21069 0 5033 0 261995 0 0 0 SCHVALLA RIVERA VP DIVERSITY & INCLUSION - CDO - SR 188153 0 5793 0 415 0 19579 0 10990 0 224930 0 0 0 JANA GRIMES VP OF HUMAN RESOURCES 188299 0 0 0 1189 0 19000 0 10598 0 219086 0 0 0 ANGELA VOOS COS & VP STRAT. INITIATIVES 114281 0 73709 0 1612 0 18874 0 750 0 209226 0 0 0 BERONDA L MONTGOMERY DEAN & VP FOR ACADEMIC AFFAIRS 148078 0 10000 0 10650 0 16000 0 12640 0 197368 0 0 0 DEBRA LUKEHART FORMER KEY (UNTIL 08/2022) 0 0 0 0 134810 0 13775 0 13788 0 162373 0 0 0 PART I, LINE 1A THE PRESIDENT IS REQUIRED TO LIVE IN COLLEGE OWNED HOUSING. THE COLLEGE EMPLOYS SOMEONE TO MAINTAIN THE CLEANLINESS OF THE RESIDENCE. 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 VALUE OF THE CLEANING SERVICES IS TAXABLE INCOME. A DONOR FUNDED A STUDY TO DETERMINE THE FEASIBILITY AND BENEFITS OF OFFERING CHARTER JET SERVICE TO AND FROM GRINNELL REGIONAL AIRPORT INTO KEY AND STRATEGIC MARKETS. THE PREMISE OF THIS PROJECT WAS TO EXPLORE THE POTENTIAL BENEFITS TO THE COLLEGE BY SUPPORTING DIRECT JET SERVICE TO MAJOR METROPOLITAN AREAS IN THE UNITED STATES ON SELECT AND PEAK TRAVEL DAYS. THE PRESIDENT AND OTHER EMPLOYEES NOT LISTED WERE PROVIDED CHARTER TRAVEL. THIS WAS SOLELY FOR COLLEGE BUSINESS PURPOSES SO IT IS NOT TREATED AS TAXABLE INCOME. PART I, LINES 4A-B DEBRA LUKEHART RECEIVED SEVERANCE PAYMENTS OF $134,810 PER HER SEVERANCE AGREEMENT WITH THE COLLEGE. FORMER CHIEF INVESTMENT OFFICER WAS PAID HIS NONQUALIFIED DEFERRED COMPENSATION OF $525,588. THE PREVIOUS CONTRIBUTIONS TO THE PLAN WERE MADE BY THE EMPLOYEE AND NOT THE COLLEGE. PART I, LINE 7 THE PRESIDENT OF THE COLLEGE HAS THE AUTHORITY TO AWARD NON-FIXED PAYMENTS TO INDIVIDUALS BASED ON THEIR ACHIEVEMENTS DURING THE FISCAL YEAR OR WRITTEN CONTRACTS WITH THE COLLEGE. TYPICALLY, THESE AMOUNTS ARE DISCRETIONARY AND THE COLLEGE ENSURES THE AMOUNTS ARE REASONABLE WHEN ADDRESSING THE OVERALL COMPENSATION STRUCTURE FOR THE INDIVIDUAL. ANY BONUS PAID TO THE PRESIDENT IS AWARDED AND APPROVED BY THE BOARD OF TRUSTEES. IN JUNE, 2022, ALL ELIGIBLE EMPLOYEES WERE AWARDED A BONUS OF 3% OF FY21 BASE PAY TO PROVIDE SOME FINANCIAL RELIEF DUE TO THE DECISION TO FREEZE WAGES DURING FY21. CERTAIN INDIVIDUALS RECEIVED RETENTION BONUSES. PART I, LINE 8 THE PRESIDENT IS IN HER INITIAL EMPLOYMENT CONTRACT WITH THE COLLEGE EFFECTIVE JULY 1, 2020 THROUGH JUNE 30, 2025. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 4624602Q8 2014-11-20 60381280 REFUND 6-26-08 $60,000,000 BOND ISSUE 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 4624605V4 2017-02-07 120702057 FACILITIES CONSTRUCTION AND IMPROVEMENTS 0 0 0 A 2745000 60381280 13196 366752 60001332 2014 0 1 1 1 B 4400000 122180443 695093 121485350 2020 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00010 0.00000 0.00010 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 0 0 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: 01/31/2020 SCHEDULE K, PART I, COLUMN (E) AND PART II, LINE 3: (A) ISSUER NAME: IOWA HIGHER EDUCATION LOAN AUTHORITY BOND B HAS A VARIANCE FROM THE ISSUE PRICE OF $120,702,057 AND THE TOTAL PROCEEDS OF ISSUE $122,180,443, THE $1,478,386 VARIANCE IS DUE TO INVESTMENT EARNINGS. 101242 SCHOLARSHIPS EDUCATION 4075 FELLOWSHIPS EDUCATION 4200 PRIZES EDUCATION MICHAEL MACKENZIE FAMILY MEMBER OF ANNE F. HARRIS, PRESIDENT 76420 WAGES & BENEFITS 0 JULIE BAUMANN FAMILY MEMBER OF JOESPH P. BAGNOLI, VP OF ENROLLMENT 120957 WAGES & BENEFITS 0 CHRISTOPHER BAIR FAMILY MEMBER OF MARGARET JONES BAIR, SECRETARY 82345 WAGES & BENEFITS 0 JOHN ROMMEREIM FAMILY MEMBER OF ANGELA VOOS, VP OF STRATEGIC PLANNING & CHIEF OF STAFF 181668 WAGES & BENEFITS 0 X 17 340926 INSURED VALUE X 63 3450117 NYSE AVERAGE HIGH/LOW X MUSICAL INSTRUMENTS 2 30000 MARKET VALUE X MISCELLANEOUS 16 1752 MARKET VALUE 1 0 1 1 PART I, COLUMN (B): COLUMN (B) IS THE NUMBER OF CONTRIBUTORS. 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 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 I, LINE 6: VOLUNTEERS INCLUDE INDIVIDUALS WHO ASSIST ADMISSIONS: THE CENTER FOR CAREERS, LIFE AND SERVICE; ALUMNI COUNCIL AND OTHER COMMUNITY VOLUNTEERS. FORM 990, PART V, LINE 1A: THE TOTAL OF 2,164 RELATED TO FORM 1096 IS MADE UP OF 443 1099 FORMS AND 1,721 1098-T FORMS. FORM 990, PART VI, SECTION A, LINE 1A THE MEMBERSHIP OF THE EXECUTIVE COMMITTEE OF THE BOARD SHALL CONSIST OF THE BOARD CHAIR, THE BOARD VICE CHAIR(S), AND THE CHAIRS OF THE STANDING COMMITTEES OF THE BOARD, OR, IN THEIR ABSENCE, A DESIGNEE. THE CHAIRS OF AD HOC COMMITTEES SHALL SERVE ON THE EXECUTIVE COMMITTEE FOR THE DURATION OF THEIR COMMITTEE CHARTER. THE BOARD CHAIR SHALL ACT AS CHAIR OF THE EXECUTIVE COMMITTEE. A. DUTIES AND POWERS. BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, TO HAVE AND EXERCISE THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE COLLEGE; ANY ACTION REQUIRING A TWO-THIRDS (2/3) VOTE OF THE FULL MEMBERSHIP OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY TO AMEND, ALTER, OR REPEAL THE BYLAWS; AMEND THE ARTICLES OF INCORPORATION; APPROVE THE DISSOLUTION OR MERGER OF THE COLLEGE OR 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 HAVE THE AUTHORITY TO BORROW MONEY. B. EMERGENCIES. 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. CONFLICT OF INTEREST. TO ADMINISTER AND PERFORM THE DUTIES PRESCRIBED UNDER THE COLLEGE'S CONFLICT OF INTEREST POLICY. D. TRANSACTION OF BUSINESS. TO CONVENE AT THE CALL OF THE BOARD CHAIR 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, EITHER IN PERSON OR BY ANY ELECTRONIC MEANS OF COMMUNICATION BY WHICH ALL PARTICIPANTS MAY SIMULTANEOUSLY HEAR EACH OTHER AND PARTICIPATE IN DISCUSSION DURING THE MEETING. E. WRITTEN RECORDS. THE EXECUTIVE COMMITTEE SHALL KEEP A WRITTEN RECORD OF ITS PROCEEDINGS. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETE FORM 990 WAS MADE AVAILABLE FOR REVIEW TO THE PRESIDENT AND VICE PRESIDENT OF FINANCE AND TREASURER PRIOR TO THE SPRING 2024 TRUSTEE MEETING. THE PUBLIC INSPECTION COPY OF THE THE FORM 990 WAS MADE AVAILABLE TO THE FULL BOARD OF TRUSTEES FOR REVIEW. IT WAS PRESENTED TO AND REVIEWED IN DETAIL BY THE AUDIT AND ASSESSMENT COMMITTEE. 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 ANNUALLY 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 ACADEMIC AFFAIRS, VICE PRESIDENT FOR FINANCE & TREASURER, CHIEF OF STAFF, VICE PRESIDENT FOR COMMUNICATIONS, VICE PRESIDENT FOR ENROLLMENT, VICE PRESIDENT FOR DEVELOPMENT AND ALUMNI RELATIONS, CHIEF INFORMATION TECHNOLOGY OFFICER, DIRECTOR OF BOARD RELATIONS, ASSOCIATE VICE PRESIDENT FOR FINANCE & ASSISTANT TREASURER, ASSOCIATE VICE PRESIDENT INSTITUTIONAL INITIATIVES & ENROLLMENT, FINKELMAN DEAN, VP DIVERSITY & INCLUSION, VICE PRESIDENT OF COMMUNITY ENGAGEMENT AND STRATEGIC PLANNING, VICE PRESIDENT OF HUMAN RESOURCES, VICE PRESIDENT FOR STUDENT AFFAIRS, AND ASSISTANT VICE-PRESIDENT FOR FACILITIES MANAGEMENT. THE LAST REVIEW WAS CONDUCTED FOR COMPENSATION EFFECTIVE JULY 1, 2024. 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 OR UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT -367,927. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 9,679. CHANGE IN ACCUMULATED POST RETIREMENT BENEFITS 617,868. 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