2023-05-12T10:37:49-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2021-07-01 420680387 THE TRUSTEES OF GRINNELL COLLEGE TRUS 6412699700 733 BROAD STREET GRINNELL IA 501122227 GERMAINE GROSS VP FOR FINANCE & TREASURER 6412699700 2023-05-06 1 GERMAINE GROSS 999009999 LAURA J KENNEY P00202198 6177170831 2023-05-02 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z GRINNELL COLLEGE GERMAINE GROSS 733 BROAD STREET GRINNELL IA 501122227 1117300257 0 X WWW.GRINNELL.EDU X 1846 IA TO EDUCATE STUDENTS IN THE LIBERAL ARTS THROUGH FREE INQUIRY AND THE OPEN EXCHANGE OF IDEAS. 29 28 2262 1317 2258071 1459338 11462523 16685086 87341535 120958034 174274866 210484205 896902 3067669 273975826 351194994 52346251 67634263 0 0 78833740 86477948 204800 67660 6694477 58582785 58122635 189967576 212302506 84008250 138892488 3450447819 2988511926 300125396 278738530 3150322423 2709773396 X SEE SCHEDULE O 0 0 115254751 66282206 98506956 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. 29982100 722816 897385 STUDENT SERVICES INCLUDES REGISTRATION, COUNSELING, ADMISSION AND FINANCIAL AID, HEALTH SERVICES, INTERCOLLEGIATE ATHLETICS, LECTURES, CONVOCATIONS AND OTHER STUDENT PROGRAMS. 30848625 629241 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. 17565074 21553693 OTHER PROGRAM SERVICES INCLUDE AUXILIARY ENTERPRISES SUCH AS HOUSING AND FOOD SERVICE. 17565074 21553693 193650550 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 1 1 1 1 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 2092 0 2262 1 1 1 0 0 0 0 0 0 0 0 0 1 1 X 29 28 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 501122227 MICHAEL B KAHN TRUSTEE & CHAIR 6.00 0.00 X X 0 0 0 ANGELA ONWUACHI-WILLIG TRUSTEE & VICE CHAIR 6.00 0.00 X X 0 0 0 SHERYL WALTER TRUSTEE & VICE CHAIR 6.00 0.00 X X 0 0 0 LESTER ALEMAN TRUSTEE 1.00 0.00 X 0 0 0 PATRICIA FITZGIBBONS ANDERSON TRUSTEE (SEPARATED IN FY22) 3.00 0.00 X 0 0 0 DAVID B BRAMAN TRUSTEE (SEPARATED IN FY22) 3.00 0.00 X 0 0 0 R CHRISTINA CUTLIP TRUSTEE 1.00 0.00 X 0 0 0 ODILE DISCH-BHADKAMKAR TRUSTEE 1.00 0.00 X 0 0 0 JEETANDER DULANI TRUSTEE 1.00 0.00 X 0 0 0 SHELLEY FLOYD TRUSTEE 1.00 0.00 X 0 0 0 JULIE GOSSELINK TRUSTEE 1.00 0.00 X 0 0 0 JON GRAY TRUSTEE 1.00 0.00 X 0 0 0 GRACIELA GUZMAN TRUSTEE 1.00 0.00 X 0 0 0 KEITH A JANTZEN TRUSTEE 1.00 0.00 X 0 0 0 JOHN H KISPERT TRUSTEE 3.00 0.00 X 0 0 0 BRUCE KOFF TRUSTEE 1.00 0.00 X 0 0 0 KIMBERLY A KUNCL TRUSTEE 1.00 0.00 X 0 0 0 TOBI KLEIN MARCUS TRUSTEE 3.00 0.00 X 0 0 0 DAVID E MAXWELL TRUSTEE 1.00 0.00 X 0 0 0 KATHRYN J MOHRMAN TRUSTEE 1.00 0.00 X 0 0 0 GEORGE E MOOSE TRUSTEE 3.00 0.00 X 0 0 0 STEPHEN G MOYER TRUSTEE (SEPARATED IN FY22) 1.00 0.00 X 0 0 0 JEANNE MYERSON TRUSTEE 3.00 0.00 X 0 0 0 SAUMIL H PARIKH TRUSTEE (SEPARATED IN FY22) 1.00 0.00 X 0 0 0 NANCY L RADERMECHER TRUSTEE 1.00 0.00 X 0 0 0 W EDWARD SENN TRUSTEE 3.00 0.00 X 0 0 0 HAM SERUNJOGI TRUSTEE 1.00 0.00 X 0 0 0 KAREN E SHAFF TRUSTEE 1.00 0.00 X 0 0 0 JOEL R SPIEGEL TRUSTEE 1.00 0.00 X 0 0 0 KRISTIN STOUT TRUSTEE 1.00 0.00 X 0 0 0 MATTHEW E WELCH TRUSTEE 3.00 0.00 X 0 0 0 ERIC E WHITAKER TRUSTEE 1.00 0.00 X 0 0 0 CONNIE WIMER TRUSTEE 1.00 0.00 X 0 0 0 JAINEN THAYER CHIEF INVESTMENT OFFICER 60.00 0.00 X 1089742 0 61658 ANNE HARRIS PRESIDENT 60.00 0.00 X 590356 0 115491 KEITH ARCHER VP FINANCE AND TREASURER 60.00 0.00 X 190940 0 32431 NANCY L COMBS INTERIM VP FOR FINANCE AND TREASURER 60.00 0.00 X 193597 0 55043 MARGARET JONES BAIR SECRETARY 50.00 0.00 X 103021 0 34575 JACI THIEDE VP DEVELOPMENT & ALUMNI RELATIONS 60.00 0.00 X 335040 0 43309 JOSEPH P BAGNOLI VP ENROLLMENT 60.00 0.00 X 247033 0 103019 ANGELA VOOS VP STRAT. INITIATIVES/CHIEF OF STAFF 60.00 0.00 X 233823 0 34548 DAVID R ROBINSON CHIEF INFORMATION OFFICER 60.00 0.00 X 210130 0 47580 DEBRA LUKEHART VP COMMUNICATIONS 60.00 0.00 X 280673 0 49343 ELAINE M MARZLUFF INTERIM DEAN OF THE COLLEGE 60.00 0.00 X 222767 0 33787 SARAH MOSCHENROSS VP STUDENT AFFAIRS 60.00 0.00 X 181061 0 48171 JANA GRIMES VP OF HUMAN RESOURCES 60.00 0.00 X 159577 0 23277 SCHVALLA RIVERA VP DIVERSITY & INCLUSION 60.00 0.00 X 173466 0 27036 PAIGE L CARLSON ASSOCIATE DIRECTOR OF INVESTMENTS 50.00 0.00 X 416065 0 55848 JOHN KALKBRENNER AVP OF AUXILIARY SERVICES 50.00 0.00 X 204348 0 42750 HENRY W MOYER PROFESSOR OF POLITICAL SCIENCE 50.00 0.00 X 223613 0 33482 DAVID G CAMPBELL PROFESSOR OF BIOLOGY 50.00 0.00 X 203681 0 43450 KELLY SANDQUIST DIRECTOR OF INVESTMENT OPERATIONS 50.00 0.00 X 204322 0 22683 5463255 0 907481 158 0 1 0 SUMMIT STREET CAPITAL MANAGEMENT LLC 509 MADISON AVE 19TH FLOOR NEW YORK NY 10022 INVESTMENT MANAGER 2433526 OPN INC 200 5TH AVE SE SUITE 201 CEDAR RAPIDS IA 52401 ARCHITECTURE 2402429 EAGLE CAPITAL 499 PARK AVENUE 17TH FLOOR NEW YORK NY 10022 INVESTMENT MANAGER 1647682 BARES CAPITAL MANAGEMENT 12600 HILL COUNTRY BLVD STE R-230 AUSTIN TX 78738 INVESTMENT MANAGER 1224115 NYEMASTER GOODE PC STE 1600 700 WALNUT DES MOINES IA 503093899 LEGAL 433404 22 4128874 12556212 776472 16685086 TUITION 611600 98495678 98495678 AUXILIARY SERVICES 611710 21187629 21187629 FEES, SOURCES, & FINES 611710 897385 897385 ALUMNI FEES 611710 366064 366064 INDIRECT COST RECOVERY 611710 1575 1575 9703 9703 120958034 7709439 2258071 5451368 5115 5115 3049561 3049561 141944 143306 -1362 -1362 -1362 968690608 41000 765919993 41964 202770615 -964 202769651 202769651 MISCELLANEOUS REVENUE 900099 19470 19470 19470 351194994 98505381 2258071 233746456 179991 179991 56058701 56058701 11395571 11395571 4899821 773867 3401364 724590 1412602 900206 512396 61423266 53967109 4252313 3203844 5685240 5027963 376582 280695 8342237 7484472 416003 441762 4714782 3987940 441767 285075 979497 145214 833908 375 206680 206680 67660 67660 5822015 5822015 6489504 3824880 2561067 103557 236393 190587 43861 1945 9092663 8530585 137134 424944 3825174 3286704 535099 3371 16261 16261 7134221 6571971 346689 215561 2844393 2252087 379947 212359 1234350 736217 219245 278888 6159658 6159658 14195219 13767097 263984 164138 904678 904678 AUXILIARY COGS 3084234 3084234 OFF CAMPUS PROGRAM COST 2247686 2247686 SPECIAL PROGRAMS 269291 236622 32669 INVEST. EXCISE AND UBI -9154361 -9154361 2535079 1920249 329117 285713 212302506 193650550 11957479 6694477 3271051 4191773 7104905 5249804 4117782 2256615 410 3920 1242381 1175261 3525248 4432637 581223676 247735219 331918926 333488457 712437241 563754160 2382136146 2070005782 4693729 3953517 3450447819 2988511926 46164717 33668691 5876110 4793275 173519960 168761530 4140759 3115978 60012799 60032111 10411051 8366945 300125396 278738530 X 2160524998 1863780780 989797425 845992616 3150322423 2709773396 3450447819 2988511926 X 138892488 -584881577 5440062 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 359973 10380965 0 0 X X X 0 0 1 X 2931550076 6186324 -370756701 26743262 55817711 2484418726 2090750442 3632433 924779487 23640134 63972152 2931550076 2069953401 7007029 96291971 23390030 59111929 2090750442 1991605132 3278055 154954634 21720418 58164002 2069953401 1871046105 13951066 184388901 21647276 56133664 1991605132 0.67000 0.33000 0.00000 0 0 100 4725916 4726016 460908845 179328722 281580123 75900652 58858892 17041760 39688163 9547605 30140558 333488457 11623921 F NON-MARKETABLE ALTERNATIVES 1006837024 F MARKETABLE ALTERNATIVES 1044942444 F OTHER SECURITIES 4840 F BENEFICIAL INTEREST IN TRUSTS 6597553 F 2070005782 ANNUITIES PAYABLE 8366945 8366945 X -300154240 -584881577 191982 -584689595 284535355 11257296 55402343 66659639 351194994 140394787 144270 144270 140250517 11257296 60794693 72051989 212302506 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, 2022, 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 143,306. CHANGE IN VALUE OF LIFE INSURANCE 47,712. LOSS OF DISPOSAL OF FIXED ASSETS 964. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANT AND SCHOLARSHIPS 64,190,640. ALUMNI FEES 366,064. INVESTMENT EXCISE AND UNRELATED BUSINESS INCOME TAX -9,154,361. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 143,306. LOSS OF DISPOSAL OF FIXED ASSETS 964. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT AND SCHOLARSHIPS 64,190,640. ALUMNI FEES 366,064. INVESTMENT EXCISE AND UNRELATED BUSINESS INCOME TAX -9,154,361. CHANGE IN VALUE OF POST RETIREMENT BENEFIT OBLIGATION 1,338,074. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT 4,054,276. 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 HEERF (COVID-19) FUNDING. 1 CENTRAL AMERICA & CARIBBEAN 0 0 GRANTS 361314 SOUTH ASIA 0 0 GRANTS 3622385 SOUTH AMERICA 0 0 GRANTS 1160616 RUSSIA & NEIGHBORING STATES 0 0 GRANTS 423499 SUB-SAHARAN AFRICA 0 0 GRANTS 589150 MIDDLE EAST & NORTH AFRICA 0 0 GRANTS 493979 EUROPE 0 0 GRANTS 1212183 EAST ASIA & THE PACIFIC 0 0 GRANTS 3333732 NORTH AMERICA 0 0 GRANTS 173714 EUROPE 0 0 INVESTMENTS (BOOK VALUE) 23176501 SUB-SAHARAN AFRICA 0 0 INVESTMENTS (BOOK VALUE) 47740605 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS (BOOK VALUE) 771535545 NORTH AMERICA 0 0 INVESTMENTS (BOOK VALUE) 632 EUROPE 0 0 INVESTMENTS (EXPENDITURES) 1369231 EAST ASIA & THE PACIFIC 0 0 INVESTMENTS (EXPENDITURES) 30412885 SUB-SAHARAN AFRICA 0 0 INVESTMENTS (EXPENDITURES) 6966990 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS (EXPENDITURES) 203612653 RUSSIA & NEIGHBORING STATES 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 2412 SOUTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 7663 EUROPE 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 456605 CENTRAL AMERICA & CARIBBEAN 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 7783 SOUTH ASIA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 759 EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 17512 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 7103 NORTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 9793 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 79564 0 0 0 0 0 0 11196858 1085577950 1096774808 SOUTH ASIA GENERAL SUPPORT 25000 WIRE TRANSFER 0 N/A N/A 1 0 AWARDS SOUTH ASIA 3 82500 CHECK N/A N/A FELLOWSHIPS SUB-SAHARAN AFRICA 8 18899 CHECK N/A N/A FELLOWSHIPS SOUTH ASIA 72 121373 CHECK N/A N/A FELLOWSHIPS SOUTH AMERICA 21 39548 CHECK N/A N/A FELLOWSHIPS RUSSIA & NEIGHBORING STATES 8 15770 CHECK N/A N/A FELLOWSHIPS NORTH AMERICA 8 9530 CHECK N/A N/A FELLOWSHIPS MIDDLE EAST & NORTH AFRICA 8 13049 CHECK N/A N/A FELLOWSHIPS EUROPE 28 50702 CHECK N/A N/A FELLOWSHIPS CENTRAL AMERICA & CARIBBEAN 6 9950 CHECK N/A N/A FELLOWSHIPS EAST ASIA & THE PACIFIC 109 176914 CHECK N/A N/A INTERNSHIPS SOUTH ASIA 9 50908 CHECK N/A N/A INTERNSHIPS SOUTH AMERICA 5 31377 CHECK N/A N/A INTERNSHIPS RUSSIA & NEIGHBORING STATES 1 6977 CHECK N/A N/A INTERNSHIPS NORTH AMERICA 1 883 CHECK N/A N/A INTERNSHIPS MIDDLE EAST & NORTH AFRICA 4 21012 CHECK N/A N/A INTERNSHIPS EUROPE 7 40949 CHECK N/A N/A INTERNSHIPS EAST ASIA & THE PACIFIC 18 89103 CHECK N/A N/A INTERNSHIPS CENTRAL AMERICA & CARIBBEAN 1 6977 CHECK N/A N/A PRIZES MIDDLE EAST & NORTH AFRICA 2 200 CHECK N/A N/A PRIZES EUROPE 3 2330 CHECK N/A N/A PRIZES SOUTH AMERICA 4 2300 CHECK N/A N/A PRIZES SOUTH ASIA 14 8867 CHECK N/A N/A PRIZES SUB-SAHARAN AFRICA 6 3490 CHECK N/A N/A PRIZES CENTRAL AMERICA & CARIBBEAN 1 2000 CHECK N/A N/A PRIZES EAST ASIA & THE PACIFIC 16 8701 CHECK N/A N/A SCHOLARSHIPS MIDDLE EAST & NORTH AFRICA 8 459718 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS EUROPE 20 1118202 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS NORTH AMERICA 4 163301 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS RUSSIA & NEIGHBORING STATES 7 400752 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS SOUTH AMERICA 20 1087391 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS SOUTH ASIA 73 3358737 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS SUB-SAHARAN AFRICA 8 566761 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS EAST ASIA & THE PACIFIC 78 3059014 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS CENTRAL AMERICA & CARIBBEAN 6 342387 CREDIT TO STUDENT ACCOUNT N/A N/A 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: X X X X X X 1 LEVEL 5 THE EXPO GROUP 5931 W CAMPUS CIRCLE DR IRVING TX 75063 FUNDRAISING PLAN DEVELOPMENT 0 0 66160 0 66160 AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY 1 CITY OF GRINNELL 520 4TH AVENUE GRINNELL IA 50112 426004734 GOV 9936 0 N/A N/A GENERAL SUPPORT CLAUDE W AND DOLLY AHERNS FOUNDATION 1510 PENROSE ST GRINNELL IA 50112 391906775 501(C)(3) 10925 0 N/A N/A GENERAL SUPPORT GREATER POWESHIEK COMMUNITY FOUNDATION 1510 PENROSE ST GRINNELL IA 50112 421298055 501(C)(3) 87396 0 N/A N/A GENERAL SUPPORT GRINNELL AREA CHAMBER OF COMMERCE 833 4TH AVENUE GRINNELL IA 50112 420286455 501(C)(6) 9600 0 N/A N/A GENERAL SUPPORT GRINNELL NEWBURG COMMUNITY SCHOOLS 925 BROAD STREET GRINNELL IA 50112 426036570 GOV 11500 0 N/A N/A GENERAL SUPPORT POWESHIEK ANIMAL LEAGUE SHELTER 4167 20TH STREET GRINNELL IA 50112 201045708 501(C)(3) 8212 0 N/A N/A GENERAL SUPPORT GRINNELL COMMUNITY DAYCARE 1436 PENROSE STREET GRINNELL IA 50112 420947994 501(C)(3) 7479 0 N/A N/A GENERAL SUPPORT 6 1 SCHOLARSHIPS 1379 53654642 N/A N/A PRIZES 91 111521 N/A N/A FELLOWSHIPS 985 1835997 N/A N/A INTERSHIPS 70 319041 N/A N/A AWARDS 4 137500 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 1 1 X X X X 1 0 0 0 0 0 0 1 1 1 JAINEN THAYER CHIEF INVESTMENT OFFICER 523454 0 565602 0 686 0 29000 0 32658 0 1151400 0 0 0 ANNE HARRIS PRESIDENT 553454 0 25000 0 11902 0 29000 0 86491 0 705847 0 0 0 PAIGE L CARLSON ASSOCIATE DIRECTOR OF INVESTMENTS 243904 0 171751 0 410 0 29000 0 26848 0 471913 0 0 0 JACI THIEDE VP DEVELOPMENT & ALUMNI RELATIONS 328594 0 5000 0 1446 0 29000 0 14309 0 378349 0 0 0 JOSEPH P BAGNOLI VP ENROLLMENT 235577 0 10000 0 1456 0 25037 0 77982 0 350052 0 0 0 DEBRA LUKEHART VP COMMUNICATIONS 179845 0 60180 0 40648 0 22586 0 26757 0 330016 0 0 0 ANGELA VOOS VP STRAT. INITIATIVES/CHIEF OF STAFF 224222 0 7500 0 2101 0 23421 0 11127 0 268371 0 0 0 DAVID R ROBINSON CHIEF INFORMATION OFFICER 202319 0 7500 0 311 0 21557 0 26023 0 257710 0 0 0 HENRY W MOYER PROFESSOR OF POLITICAL SCIENCE 220729 0 0 0 2884 0 22280 0 11202 0 257095 0 0 0 ELAINE M MARZLUFF INTERIM DEAN OF THE COLLEGE 222231 0 0 0 536 0 22417 0 11370 0 256554 0 0 0 NANCY L COMBS INTERIM VP FOR FINANCE AND TREASURER 187409 0 5000 0 1188 0 19770 0 35273 0 248640 0 0 0 DAVID G CAMPBELL PROFESSOR OF BIOLOGY 199857 0 0 0 3824 0 20631 0 22819 0 247131 0 0 0 JOHN KALKBRENNER AVP OF AUXILIARY SERVICES 203098 0 0 0 1250 0 20836 0 21914 0 247098 0 0 0 SARAH MOSCHENROSS VP STUDENT AFFAIRS 176287 0 0 0 4774 0 18583 0 29588 0 229232 0 0 0 KELLY SANDQUIST DIRECTOR OF INVESTMENT OPERATIONS 160250 0 43876 0 196 0 20438 0 2245 0 227005 0 0 0 KEITH ARCHER VP FINANCE AND TREASURER 189468 0 0 0 1472 0 19242 0 13189 0 223371 0 0 0 SCHVALLA RIVERA VP DIVERSITY & INCLUSION 173193 0 0 0 273 0 17477 0 9559 0 200502 0 0 0 JANA GRIMES VP OF HUMAN RESOURCES 148187 0 0 0 11390 0 15000 0 8277 0 182854 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 ARE TAXABLE INCOME. PART I, LINE 4A DEBRA LUKEHART RECEIVED SEVERANCE PAY TOTALING $17,218, PER HER SEVERANCE AGREEMENT. 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. 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 1340000 60381280 13196 366752 60001332 2014 0 1 1 1 B 2155000 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 0.00020 0.00000 0.00020 0 0 1 A 0 0 0 1 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: 10/31/2019 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. 132000 SCHOLARSHIPS & GRANTS EDUCATION 11300 FELLOWSHIPS EDUCATION 375 PRIZES EDUCATION JOHN ROMMEREIM FAMILY MEMBER OF ANGELA VOOS, VP OF STRATEGIC PLANNING & CHIEF OF STAFF 188533 WAGES & BENEFITS 0 JULIE BAUMANN FAMILY MEMBER OF JOSEPH BAGNOLI, VP OF ENROLLMENT 112824 WAGES & BENEFITS 0 GEORGEANNA ROBINSON FAMILY MEMBER OF DAVID ROBINSON, CHIEF INFORMATION OFFICER 60995 WAGES & BENEFITS 0 CHRISTOPHER BAIR FAMILY MEMBER OF MARGARET JONES BAIR, SECRETARY 79817 WAGES & BENEFITS 0 MICHAEL MACKENZIE FAMILY MEMBER OF ANNE HARRIS, PRESIDENT 117281 WAGES & BENEFITS 0 X 15 359973 INSURED VALUED X 60 MARKET VALUES X 44 416439 NYSE AVERAGE HIGH/LOW 6 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 2,092 RELATED TO FORM 1096 IS MADE UP OF 362 1099 FORMS AND 1,730 1098-T FORMS. FORM 990, PART VI, SECTION A, LINE 1A THE MEMBERSHIP OF THE EXECUTIVE COMMITTEE OF THE BOARD WILL 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 BOARD CHAIR MAY, AFTER CONSULTATION WITH THE EXECUTIVE COMMITTEE, APPOINT CHAIRS OF AD HOC COMMITTEES TO SERVE ON THE EXECUTIVE COMMITTEE FOR THE DURATION OF THEIR COMMITTEE CHARTER. THE BOARD CHAIR SHALL ACT AS CHAIR OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL HAVE THE FOLLOWING: 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 AMEND, ALTER, OR REPEAL THE BYLAWS, 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 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 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. 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 MAY 2023 TRUSTEE MEETING. THE PUBLIC INSPECTION COPY OF 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, 2023. 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 1,338,074. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 47,712. CHANGE IN ACCUMULATED POST RETIREMENT BENEFITS 4,054,276. EXIT 182 GROUP LLC 733 BROAD STREET GRINNELL IA 50112 MANAGEMENT OF COLLEGE-OWNED INVESTMENT ASSETS IA 0 0 TRUSTEES OF GRINNELL COLLEGE GRINNELL COLLEGE MEDICAL BENEFIT PLAN TRUST 733 BROAD STREET GRINNELL IA 50112 451371997 HEALTH INSURANCE IA 501(C)(9) N/A TRUSTEES OF GRINNELL COLLEGE 1 POWESHIEK PETROLEUM CORPORATION 733 BROAD STREET GRINNELL IA 50112 730646866 OIL AND GAS IL TRUSTEES OF GRINNELL COLLEGE C 72098 27595 1.00000 1 CHARITABLE REMAINDER UNITRUSTS (2) TRUST CA TRUSTEES OF GRINNELL COLLEGE T 0 CHARITABLE REMAINDER UNITRUSTS (16) TRUST IA TRUSTEES OF GRINNELL COLLEGE T 0 CHARITABLE REMAINDER UNITRUSTS (1) TRUST IL TRUSTEES OF GRINNELL COLLEGE T 0 CHARITABLE REMAINDER UNITRUSTS (1) TRUST AZ TRUSTEES OF GRINNELL COLLEGE T 0 CHARITABLE REMAINDER UNITRUSTS (1) TRUST CO TRUSTEES OF GRINNELL COLLEGE T 0 POOLED INCOME FUND (1) TRUST IA TRUSTEES OF GRINNELL COLLEGE T 0 CHARITABLE REMAINDER UNITRUSTS (1) TRUST MD TRUSTEES OF GRINNELL COLLEGE 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 10238149 CASH TRANSFERRED MARQUARDT 2019 CHARITABLE REMAINDER UNITRUST II S 138854 CASH TRANSFERRED POWESHIEK PETROLEUM CORPORATION F 51000 CASH TRANSFERRED C WILLIAM MAXEINER CHARITABLE REMAINDER UNITRUST OF 2003 FBO MARTHA ANN DI S 970761 CASH TRANSFERRED