2018-05-04T09:51:36-05:00 2017-06-30 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH ST STE 300 MINNEAPOLIS MN 55402 990 2016-07-01 420680387 TRUSTEES OF GRINNELL COLLEGE TRUS 6412699700 733 BROAD STREET GRINNELL IA 50112 NANCY COMBS ASSISTANT TREASURER 6412699700 2018-05-03 1 KAREN GRIES P00078514 6123764500 2016 2022-09-23 18:48:47Z GRINNELL COLLEGE DR RAYNARD S KINGTON 733 BROAD STREET GRINNELL IA 50112 859281296 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 28 2692 2077 326561 -45159 14994818 11102250 94602833 97751874 41189575 112969263 887197 1016796 151674423 222840183 48918541 49532248 0 0 68813218 73712532 56875 9588 6055419 48482727 50179419 166271361 173433787 -14596938 49406396 1945993437 2300451142 132736862 251186258 1813256575 2049264884 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 92508702 48367306 79898380 INSTRUCTIONAL PROGRAMS INCLUDE HUMANITIES, SCIENCES, SOCIAL STUDIES AND SPECIAL PROGRAMS INCLUDING INTERNATIONAL EDUCATION. GRINNELL OFFERS A BACHELOR OF ARTS IN 27 MAJOR FIELDS WITH 12 CONCENTRATIONS AND 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 INTENSIVE MENTORING OF STUDENTS BY THE FACULTY. THIS MENTORING BEGINS IN THE FIRST-YEAR TUTORIAL, THE ONLY REQUIRED COURSE AT GRINNELL COLLEGE. WHILE FACULTY MEMBERS FROM ALL ACADEMIC DEPARTMENTS TEACH THE TUTORIAL AND THEIR TOPICS VARY WIDELY, EVERY TUTORIAL EMPHASIZES WRITING, CRITICAL THINKING AND ANALYSIS, ORAL DISCUSSION SKILLS, AND INFORMATION LITERACY. EACH TUTOR ALSO SERVES AS ADVISER TO THE TUTORIAL STUDENTS UNTIL THEY DECLARE A MAJOR FIELD OF STUDY. THUS, STUDENTS RECEIVE 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 KEEPING WITH THE MENTORING APPROACH, 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. ABOVE ALL, GRINNELL COLLEGE ENTRUSTS STUDENTS WITH AN UNCOMMON LEVEL OF RESPONSIBILITY FOR THEIR OWN COLLEGE EXPERIENCE. JUST AS SELF-GOVERNANCE IS CENTRAL TO RESIDENTIAL LIFE AT THE COLLEGE, THE RESPONSIBILITY OF EACH STUDENT TO CHOOSE A UNIQUE SET OF COURSES IS CENTRAL TO THE WAY GRINNELL ORGANIZES ITS CURRICULUM. STUDENTS EXERCISE THIS RESPONSIBILITY NOT IN ISOLATION, BUT WITH THE ACTIVE GUIDANCE OF THEIR FACULTY ADVISERS AND OTHER FACULTY MENTORS. 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. 23353344 499130 419032 STUDENT SERVICES INCLUDES REGISTRATION, COUNSELING, ADMISSION AND FINANCIAL AID, HEALTH SERVICES, INTERCOLLEGIATE ATHLETICS, LECTURES, CONVOCATIONS AND OTHER STUDENT PROGRAMS. 25765073 665812 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. 18008811 0 17434462 OTHER PROGRAM SERVICES INCLUDE AUXILIARY ENTERPRISES SUCH AS HOUSING AND FOOD SERVICES. 18008811 0 17434462 159635930 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 2286 0 2692 1 1 1 1 UK 0 0 0 0 0 0 0 0 X 28 28 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 1 0 CA MA MI NY SC X X NANCY COMBS 6412693500 733 BROAD STREET GRINNELL IA 50112 TRISH FITZGIBBONS ANDERSON TRUSTEE & VICE CHAIR 2.00 X X 0 0 0 DAVID BRAMAN TRUSTEE & VICE CHAIR 2.00 X X 0 0 0 PETER CALVERT ALUMNI COUNCIL PRESIDENT 0.00 X 0 0 0 ODILE DISCH-BHADKAMKAR TRUSTEE 0.00 X 0 0 0 LAURA FERGUSON TRUSTEE 1.00 X 0 0 0 SHELLEY FLOYD TRUSTEE 2.00 X 0 0 0 HAROLD FUSON JR TRUSTEE 2.00 X 0 0 0 JULIE GOSSELINK TRUSTEE 0.00 X 0 0 0 CHARLES GOTTDIENER TRUSTEE 1.00 X 0 0 0 ATUL GUPTA TRUSTEE 1.00 X 0 0 0 STEVE HOLTZE TRUSTEE 1.00 X 0 0 0 MICHAEL KAHN TRUSTEE 2.00 X 0 0 0 JOHN KISPERT TRUSTEE 2.00 X 0 0 0 CLINTON KORVER TRUSTEE 1.00 X 0 0 0 SYLVIA KWAN TRUSTEE 2.00 X 0 0 0 TOBI KLEIN MARCUS TRUSTEE 2.00 X 0 0 0 DAVID MAXWELL TRUSTEE 1.00 X 0 0 0 SUSAN HOLDEN MCCURRY TRUSTEE 1.00 X 0 0 0 KATHRYN MOHRMAN TRUSTEE 1.00 X 0 0 0 GEORGE MOOSE TRUSTEE & VICE CHAIR 2.00 X X 0 0 0 JEANNE MYERSON TRUSTEE 0.00 X 0 0 0 ANGELA ONWUACHI-WILLIG ALUMNI COUNCIL PRESIDENT 1.00 X 25000 0 0 W ED SENN TRUSTEE 2.00 X 0 0 0 KAREN SHAFF TRUSTEE 1.00 X 0 0 0 M ANNE SPENCE TRUSTEE 1.00 X 0 0 0 JOEL SPIEGEL TRUSTEE 1.00 X 0 0 0 BARRETT THOMAS TRUSTEE & VICE CHAIR 1.00 X X 0 0 0 SHERYL WALTER TRUSTEE 0.00 X 0 0 0 MATTHEW WELCH TRUSTEE 1.00 X 0 0 0 ERIC WHITAKER TRUSTEE 2.00 X 0 0 0 CONNIE WIMER TRUSTEE 1.00 X 0 0 0 JOHN EGAN LIFE TRUSTEE 1.00 X 0 0 0 PATRICIA FINKELMAN LIFE TRUSTEE & CHAIR 2.00 X X 0 0 0 TODD LINDEN LIFE TRUSTEE 2.00 X 0 0 0 RANDALL MORGAN JR LIFE TRUSTEE 1.00 X 0 0 0 ROBERT MUSSER LIFE TRUSTEE 1.00 X 0 0 0 GREGG NARBER LIFE TRUSTEE 0.00 X 0 0 0 RAYNARD KINGTON PRESIDENT 60.00 X 599879 0 217244 SCOTT WILSON CHIEF INVESTMENT OFFICER 60.00 X 666056 0 48278 KATE WALKER TREASURER 60.00 X 273531 0 44800 SUSAN SCHOEN SECRETARY 50.00 X 103579 0 27242 JOSEPH BAGNOLI VP ENROLLMENT 60.00 X 215598 0 67666 SHANE JACOBSON VP DEVELOPMENT & ALUMNI RELATIONS 60.00 X 269798 0 47056 MICHAEL LATHAM DEAN OF THE COLLEGE 60.00 X 282523 0 47389 DAVID ROBINSON CHIEF INFORMATION OFFICER 60.00 X 172012 0 39212 ANGELA VOOS VP STRATEGIC PLANNING & CHIEF OF STAFF 60.00 X 204423 0 24080 JONATHAN ANDELSON PROFESSOR OF ANTHROPOLOGY 50.00 X 172713 0 42983 ANDREW CHOQUETTE DIRECTOR OF INVESTMENTS 50.00 X 309800 0 49939 HENRY MOYER PROFESSOR OF POLITICAL SCIENCE 50.00 X 187111 0 27571 JAMES SWARTZ PROFESSOR OF CHEMISTRY 50.00 X 188668 0 36243 DAVID CAMPBELL PROFESSOR OF BIOLOGY 50.00 X 168034 0 39842 DAVID CLAY SENIOR ADVISOR 24.00 X 370960 0 45897 DAVID LOPATTO PROFESSOR OF PSYCHOLOGY 50.00 X 168475 0 103166 PAULA SMITH PROFESSOR OF ENGLISH 50.00 X 145498 0 15317 JOHN KALKBRENNER ASST VP FOR AUXILIARY SERVICES 50.00 X 197363 0 41700 4721021 0 965625 118 1 1 0 EYP ARCHITECTURE & ENGINEERING 5TH FLOOR 201 FULLER ROAD ALBANY NY 12203 ARCHITECT 2209985 NEUBERGER BERMAN LLC 605 THIRD AVENUE 36TH FLOOR NEW YORK NY 10158 INVESTMENT MANAGER 1816044 SOUTHEASTERN ASSET MANAGEMENT 6410 POPLAR AVENUE MEMPHIS TN 38119 INVESTMENT MANAGER 1440017 EAGLE CAPITAL 499 PARK AVENUE 17TH FLOOR NEW YORK NY 10022 INVESTMENT MANAGER 1212783 BARES CAPITAL MANAGEMENT 12600 HILL COUNTRY BLVD SUITE R-23 AUSTIN TX 78738 INVESTMENT MANAGER 700569 22 1130678 9971572 1502762 11102250 TUITION AND FEES 611600 79807637 79807637 AUXILIARY SERVICES 611710 17160169 17160169 FEES, SOURCES, AND FINE 611710 419032 419032 ALUMNI FEES 611710 274293 274293 INDIRECT COST RECOVERY 611710 49281 49281 41462 41462 97751874 33035539 326561 32708978 570214 570214 1010195 1010195 142797 167825 -25028 -25028 -25028 715135052 501746 635589855 683433 79545197 -181687 79363510 79363510 MISCELLANEOUS REVENUE 900099 31629 31629 31629 222840183 79849099 326561 131562273 308287 308287 41556858 41556858 7667103 7667103 2609707 438572 1495432 675703 1812816 834671 978145 52236202 47489346 2067854 2679002 4611519 4114236 252673 244610 8514464 7660977 452258 401229 3927824 3462074 256546 209204 771975 255858 514867 1250 131419 131419 9588 9588 5621 2194 3427 2667939 1859767 547287 260885 248899 186040 62165 694 8412174 7755908 107820 548446 2419859 2109916 290662 19281 23535 23535 6173726 6084807 66165 22754 3806650 2962252 273528 570870 1671495 1175604 243088 252803 4475478 4475478 10270303 9922046 259138 89119 544743 544743 OFF-CAMPUS PROGRAM COST 3276098 3276098 DINING PROGRAM FOOD COS 2578706 2578706 SPECIAL PROGRAMS 461177 408290 52743 144 UNRELATED BUSINESS INCO -388599 -388599 2628221 2482564 75820 69837 173433787 159635930 7742438 6055419 1959421 2133944 12162561 8690628 1403159 1408743 12972 18945 929220 1025329 3554693 3305462 438119031 201719962 226641493 236399069 779050299 1016855716 913157717 1024005092 7121902 6608214 1945993437 2300451142 30685548 34625156 1688278 2335785 89930566 202920769 4821580 4506874 5610890 6797674 132736862 251186258 X 1281919863 1443008280 415512621 488047650 115824091 118208954 1813256575 2049264884 1945993437 2300451142 X 49406396 188756180 -2154267 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8500 6602418 X X X 0 0 1 X 1648783045 3652010 301514594 21397837 61505707 1871046105 1787775377 7470389 -72644504 20391636 53426581 1648783045 1829521187 8741242 8756394 18964822 40278624 1787775377 1553629299 15363250 316328638 17934254 37865746 1829521187 1383856130 1871612 222301557 16893207 37506793 1553629299 0.69000 0.31000 0.00000 0 0 100 4217765 4217865 333110060 135078415 198031645 70909670 59723398 11186272 53939 29827497 6918149 22963287 236399069 18582242 F MARKETABLE ALTERNATIVES 442600384 F NON-MARKETABLE ALTERNATIVES 562676788 F OTHER INVESTMENTS 145678 F 1024005092 ANNUITIES PAYABLE 6797674 6797674 X 364169091 188756180 357927 189114107 175054984 47785199 47785199 222840183 128160782 349512 349512 127811270 45622517 45622517 173433787 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, 2017, 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE LIFE INSURANCE 8,415. DIRECT RENTAL EXPENSES 167,825. LOSS ON DISPOSAL OF FIXED ASSETS 181,687. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND SCHOLARSHIPS 47,899,505. ALUMNI FEES 274,293. UNRELATED BUSINESS INCOME TAX -388,599. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 167,825. LOSS ON DISPOSAL OF FIXED ASSETS 181,687. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND SCHOLARSHIPS 47,899,505. ALUMNI FEES 274,293. UNRELATED BUSINESS INCOME TAX -388,599. CHANGE IN VALUE OF POST RETIREMENT BENEFIT OBLIGATION -326,024. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -1,836,658. 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 MORE THAN 20%. THE COLLEGE'S NONDISCRIMINATION STATEMENTS ARE INCLUDED IN THE ACADEMIC COURSE CATALOG 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 & CARIBBEAN 0 0 GRANTS N/A 250847 EAST ASIA & THE PACIFIC 0 0 GRANTS N/A 2542971 EUROPE 0 0 GRANTS N/A 1184977 MIDDLE EAST & NORTH AFRICA 0 0 GRANTS N/A 64607 NORTH AMERICA 0 0 GRANTS N/A 132594 RUSSIA & THE NEWLY INDEPENDENT STATES 0 0 GRANTS N/A 297068 SOUTH AMERICA 0 0 GRANTS N/A 449767 SOUTH ASIA 0 0 GRANTS N/A 1743175 SUB-SAHARAN AFRICA 0 0 GRANTS N/A 1001097 CENTRAL AMERICA & CARIBBEAN 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 3394 EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 212444 EUROPE 7 1 PROGRAM SERVICES ACADEMIC/EDUCATION 764249 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 4201 NORTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 38039 RUSSIA & THE NEWLY INDEPENDENT STATES 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 65203 SOUTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 52167 SOUTH ASIA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 57123 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 153016 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS (BOOK VALUE) N/A 510743616 EAST ASIA & THE PACIFIC 0 0 INVESTMENTS (BOOK VALUE) N/A 12190316 EUROPE 0 0 INVESTMENTS (BOOK VALUE) N/A 87133844 NORTH AMERICA 0 0 INVESTMENTS (BOOK VALUE) N/A 12339848 SUB-SAHARAN AFRICA 0 0 INVESTMENTS (BOOK VALUE) N/A 31546609 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS (EXPENDITURES) N/A 110968609 EAST ASIA & THE PACIFIC 0 0 INVESTMENTS (EXPENDITURES) N/A 4091512 EUROPE 0 0 INVESTMENTS (EXPENDITURES) N/A 14730943 NORTH AMERICA 0 0 INVESTMENTS (EXPENDITURES) N/A 10325436 SUB-SAHARAN AFRICA 0 0 INVESTMENTS (EXPENDITURES) N/A 7746734 0 0 7 1 7 1 6666006 804168400 810834406 SCHOLARSHIP CENTRAL AMERICA & CARIBBEAN 6 247066 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP EAST ASIA & THE PACIFIC 115 2361258 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP EUROPE 25 1110445 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP MIDDLE EAST & NORTH AFRICA 1 56073 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP NORTH AMERICA 4 120194 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP RUSSIA & THE NEWLY INDEPENDENT STATES 6 286768 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP SOUTH AMERICA 10 436821 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP SOUTH ASIA 53 1678036 CREDIT TO STUDENT ACCOUNT 0 N/A N/A SCHOLARSHIP SUB-SAHARAN AFRICA 20 971937 CREDIT TO STUDENT ACCOUNT 0 N/A N/A PRIZES CENTRAL AMERICA & CARIBBEAN 1 1500 CHECK 0 N/A N/A PRIZES EAST ASIA & THE PACIFIC 15 6653 CHECK 0 N/A N/A PRIZES EUROPE 7 3945 CHECK 0 N/A N/A PRIZES MIDDLE EAST & NORTH AFRICA 2 935 CHECK 0 N/A N/A PRIZES SOUTH AMERICA 1 2500 CHECK 0 N/A N/A PRIZES SOUTH ASIA 5 773 CHECK 0 N/A N/A PRIZES SUB-SAHARAN AFRICA 1 5000 CHECK 0 N/A N/A FELLOWSHIPS CENTRAL AMERICA & CARIBBEAN 1 1700 CHECK 0 N/A N/A FELLOWSHIPS EAST ASIA & THE PACIFIC 51 91932 CHECK 0 N/A N/A FELLOWSHIPS EUROPE 20 57520 CHECK 0 N/A N/A FELLOWSHIPS MIDDLE EAST & NORTH AFRICA 1 1700 CHECK 0 N/A N/A FELLOWSHIPS NORTH AMERICA 5 8500 CHECK 0 N/A N/A FELLOWSHIPS RUSSIA & NEIGHBORING STATES 3 6800 CHECK 0 N/A N/A FELLOWSHIPS SOUTH AMERICA 3 5100 CHECK 0 N/A N/A FELLOWSHIPS SOUTH ASIA 9 13117 CHECK 0 N/A N/A FELLOWSHIPS SUB-SAHARAN AFRICA 1 1700 CHECK 0 N/A N/A INTERNSHIPS CENTRAL AMERICA & CARIBBEAN 1 581 CHECK 0 N/A N/A INTERNSHIPS EAST ASIA & THE PACIFIC 47 83039 CHECK 0 N/A N/A INTERNSHIPS EUROPE 6 13018 CHECK 0 N/A N/A INTERNSHIPS MIDDLE EAST & NORTH AFRICA 2 5899 CHECK 0 N/A N/A INTERNSHIPS NORTH AMERICA 3 3900 CHECK 0 N/A N/A INTERNSHIPS RUSSIA & NEIGHBORING STATES 1 3500 CHECK 0 N/A N/A INTERNSHIPS SOUTH AMERICA 2 5346 CHECK 0 N/A N/A INTERNSHIPS SOUTH ASIA 25 51248 CHECK 0 N/A N/A INTERNSHIPS SUB-SAHARAN AFRICA 9 22460 CHECK 0 N/A N/A AWARD EAST ASIA & THE PACIFIC 1 89 CHECK 0 N/A N/A AWARD EUROPE 1 49 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. PART I, LINE 3: ACCRUAL METHOD 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. 1 CITY OF GRINNELL 927 4TH AVENUE GRINNELL IA 50112 426004734 GOVT ENTITY 80600 0 N/A N/A EQUIPMENT UPGRADES GRIN CITY COLLECTIVE PO BOX 134 GRINNELL IA 50112 811747597 501(C)(3) 5000 0 N/A N/A GENERAL SUPPORT GRINNELL AREA CHAMBER OF COMMERCE 833 4TH AVENUE GRINNELL IA 50112 420286455 501(C)(6) 61000 0 N/A N/A GENERAL SUPPORT GRINNELL REGIONAL MEDICAL CENTER 210 4TH AVENUE GRINNELL IA 50112 420933383 501(C)(3) 5100 0 N/A N/A GENERAL SUPPORT GRINNELL UNITED WAY FUND PO BOX 121 GRINNELL IA 50112 237120759 501(C)(3) 5000 0 N/A N/A GENERAL SUPPORT GRINNELL-NEWBURG COMMUNITY SCHOOLS 927 4TH AVENUE GRINNELL IA 50112 426036570 GOVT ENTITY 16912 0 N/A N/A GENERAL SUPPORT GREATER POWESHIEK COMMUNITY FOUNDATION 1510 PENROSE STREET GRINNELL IA 50112 421298055 501(C)(3) 7600 0 N/A N/A GENERAL SUPPORT ROCK CREEK LAKE ALLIANCE PO BOX 361 GRINNELL IA 50112 061696583 509(A)(2) 5000 0 N/A N/A GENERAL SUPPORT ESSIE JUSTICE GROUP 300 FRANK H OGAWA PLAZA STE 420 OAKLAND CA 94612 800956021 501(C)(3) 100000 0 N/A N/A GENERAL SUPPORT 7 2 SCHOLARSHIPS 1265 40587417 0 N/A N/A PRIZES 99 63728 0 N/A N/A FELLOWSHIPS 241 562449 0 N/A N/A INTERNSHIPS 135 287827 0 N/A N/A AWARDS 5 50437 0 N/A N/A LOAN PAYMENT 2 5000 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 1 1 X X X X 0 0 0 0 0 0 0 1 0 RAYNARD KINGTON PRESIDENT 553007 0 0 0 46872 0 134500 0 82744 0 817123 0 0 0 SCOTT WILSON CHIEF INVESTMENT OFFICER 530884 0 100000 0 35172 0 26500 0 21778 0 714334 0 0 0 KATE WALKER TREASURER 270923 0 0 0 2608 0 26500 0 18300 0 318331 0 0 0 JOSEPH BAGNOLI VP ENROLLMENT 210134 0 5000 0 464 0 21815 0 45851 0 283264 0 0 0 SHANE JACOBSON VP DEVELOPMENT & ALUMNI RELATIONS 268120 0 0 0 1678 0 26500 0 20556 0 316854 0 0 0 MICHAEL LATHAM DEAN OF THE COLLEGE 281677 0 0 0 846 0 26500 0 20889 0 329912 0 0 0 DAVID ROBINSON CHIEF INFORMATION OFFICER 166697 0 5000 0 315 0 17750 0 21462 0 211224 0 0 0 ANGELA VOOS VP STRATEGIC PLANNING & CHIEF OF STA 200777 0 0 0 3646 0 20300 0 3780 0 228503 0 0 0 JONATHAN ANDELSON PROFESSOR OF ANTHROPOLOGY 169637 0 0 0 3076 0 17366 0 25617 0 215696 0 0 0 ANDREW CHOQUETTE DIRECTOR OF INVESTMENTS 280922 0 27500 0 1378 0 26500 0 23439 0 359739 0 0 0 HENRY MOYER PROFESSOR OF POLITICAL SCIENCE 184948 0 0 0 2163 0 18659 0 8912 0 214682 0 0 0 JAMES SWARTZ PROFESSOR OF CHEMISTRY 186941 0 0 0 1727 0 19100 0 17143 0 224911 0 0 0 DAVID CAMPBELL PROFESSOR OF BIOLOGY 164840 0 0 0 3194 0 17142 0 22700 0 207876 0 0 0 DAVID CLAY SENIOR ADVISOR 314137 0 45882 0 10941 0 26500 0 19397 0 416857 0 0 0 DAVID LOPATTO PROFESSOR OF PSYCHOLOGY 167057 0 0 0 1418 0 17337 0 85829 0 271641 0 0 0 PAULA SMITH PROFESSOR OF ENGLISH 142238 0 0 0 3260 0 14224 0 1093 0 160815 0 0 0 JOHN KALKBRENNER ASST VP FOR AUXILIARY SERVICES 196063 0 0 0 1300 0 20129 0 21571 0 239063 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. IN ADDITION TO HOUSEKEEPING, THE COLLEGE OCCASSIONALLY PROVIDED MEALS TO THE PRESIDENT AND HIS FAMILY. 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. A IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 4624602Q8 2014-11-20 60381280 SEE PART VI 0 0 0 B IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 462460H74 2010-03-09 65994798 SEE PART VI 0 0 0 C IOWA HIGHER EDUCATION LOAN AUTHORITY 421235696 4624605V4 2017-02-07 120702057 SEE PART VI 0 0 0 A 60381280 13196 366752 60001332 2014 0 1 1 1 B 35400000 66325255 554622 404597 13932589 51433447 2012 0 1 1 1 C 120886193 695093 16030000 104161100 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00550 0.00000 0.00550 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 1 0 0 0 0 1 B 0 0 1 1 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: IOWA HIGHER EDUCATION LOAN AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/20/2015 ISSUER NAME: IOWA HIGHER EDUCATION LOAN AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 03/09/2012 SCHEDULE K, PART I, COLUMN F: REFUND 6-26-08 $60,000,000 BOND ISSUE SCHEDULE K, PART I, COLUMN F: REFUND 12-13-01 $50,000,000 BOND ISSUE AND FACILITIES SCHEDULE K, PART I, COLUMN F: FACILITIES CONSTRUCTION AND IMPROVEMENTS SCHEDULE K, PART I, COLUMN E: THE DIFFERENCE FROM PART I, COLUMN E AND PART II, LINE 3 IS DUE TO INVESTMENT EARNINGS. 144770 SCHOLARSHIPS SCHOLARSHIPS 3400 FELLOWSHIP FELLOWSHIP BARBARA BROWN FAMILY MEMBER OF DAVID LOPATTO, FORMER VP ACADEMIC AFFAIRS & DEAN 71979 WAGES & BENEFITS FOR THE ROLE OF PSYCHOLOGY TECHNICAL ASSISTANT. 0 JOHN ROMMEREIM FAMILY MEMBER OF ANGELA VOOS, VP STRATEGIC PLANNING & CHIEF OF STAFF 159499 WAGES & BENEFITS FOR THE ROLE AS A MUSIC PROFESSOR. 0 PAUL TJOSSEM FAMILY MEMBER OF PAULA SMITH, FORMER VP ACADEMIC AFFAIRS & DEAN 142909 WAGES & BENEFITS AS ASSOCIATE PROFESSOR OF PHYSICS. 0 VINCENT WALKER FAMILY MEMBER OF KATE WALKER, VP FOR FINANCE & TREASURER 119313 WAGES & BENEFITS FOR THE ROLE OF ASSOCIATE DIRECTOR OF MAJOR GIFTS. 0 GEORGEANNA ROBINSON FAMILY MEMBER OF DAVID ROBINSON, CHIEF INFORMATION OFFICER 45586 WAGES & BENEFITS FOR THE ROLE OF ASSOCIATE DIRECTOR OF QUALITATIVE RESEARCH. 0 JACOB WILLIG-ONWUACHI FAMILY MEMBER OF ANGELA ONWUACHI-WILLIG, ALUMNI COUNCIL PRESIDENT 120472 WAGES & BENEFITS FOR THE ROLE OF ASSOCIATE PROFESSOR OF PHYSICS. 0 X 2 8500 INSURED VALUE X 48 1487953 NYSE AVERAGE HIGH/LOW X MUSICAL EQUIPMENT 3 6309 ESTIMATED VALUE 1 0 1 1 PART I, COLUMN (B): PART I, COLUMN (B) REPRESENTS 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 I, LINE 6, 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 537 FORM 1099S AND 1749 FORM 1098-TS FOR A TOTAL OF 2,286. 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 2017 AND THEREFORE NOT LISTED IN PART VII ARE ROBERT AUSTIN, ELIZABETH BALLANTINE, ROBERT BARR, NORDAHL BRUE, CAROLYN SWARTZ BUCKSBAUM, KIHWAN KIM, CAROLINE LITTLE, FRED LITTLE, PATRICIA MEYER PAPPER, JOHN PRICE, PENNY BENDER SEBRING, DAVID WHITE, AND HENRY WINGATE. FORM 990, PART VI, SECTION A, LINE 1 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 A, LINE 2 FRED LITTLE AND CAROLINE LITTLE - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 4 GRINNELL COLLEGE UPDATED ITS BYLAWS TO UPDATE THE STATUS OF LIFE TRUSTEES. THE OPTION TO SELECT STATUS AS A LIFE TRUSTEE AFTER COMPLETING A TERM ON THE BOARD EXPIRES AT THE ANNUAL MEETING, 2018. INDIVIDUALS HOLDING THAT TITLE MAY CONTINUE TO DO SO AND MAINTAIN THEIR RIGHTS AND PRIVILEGES, INCLUDING VOTING IF ATTENDING TWO (2) OF THE LAST THREE (3) MEETINGS EXCEPT ON BYLAWS, UNTIL SPRING 2018. AFTER THE ANNUAL MEETING OF 2018, LIFE TRUSTEES NO LONGER ARE PERMITTED TO PARTICIPATE IN MEETINGS OR ACTIONS OF THE BOARD OR TO HOLD OFFICE. A LIFE TRUSTEE SHALL NOT BE CONSIDERED FOR PURPOSES OF ESTABLISHING A QUORUM IN EITHER A BOARD OR COMMITTEE MEETING. ALL INDIVIDUALS COMPLETING AT LEAST ONE 4 YEAR TERM AS TRUSTEE WILL, AFTER LEAVING THE BOARD, BE REFERRED TO AS RETIRED TRUSTEE. A SECTION WAS ADDED TO THE BYLAWS DEFINING THE PROCESS FOR A TRUSTEE TO RESIGN. LANGUAGE WAS ADDED TO ADDRESS PROXY VOTING WHICH STATES MEMBERS OF THE BOARD ARE NOT PERMITTED TO VOTE BY PROXY. LANGUAGE REGARDING ELECTIONS WAS UPDATED. EXCEPT FOR THE BOARD VICE CHAIR(S) AND THE PRESIDENT OF THE COLLEGE, THE OFFICERS OF THE COLLEGE SHALL BE ELECTED BY THE BOARD OF TRUSTEES BIENNIALLY AT ITS ANNUAL MEETING OR SUCH OTHER MEETING DESIGNATED BY THE BOARD FOR OFFICER ELECTIONS, INCLUDING EXTENDING THE EXISTING CHAIR'S TERM BY ONE YEAR WHEN SPECIAL CIRCUMSTANCES WARRANT. THE SITUATION OF SPECIAL CIRCUMSTANCES EXISTS WHEN DETERMINED BY THE MAJORITY VOTE OF THE EXECUTIVE COMMITTEE. THE BOARD CHAIR SHALL, UPON CONSULTATION WITH THE EXECUTIVE COMMITTEE, APPOINT THE BOARD VICE CHAIR(S). DUTIES OF THE PRESIDENT, TREASURER, CHIEF INVESTMENT OFFICER AND VICE-PRESIDENT FOR ACADEMIC AFFAIRS HAVE BEEN REWRITTEN FOR SIMPLIFICATION PURPOSES. THE NUMBER OF STANDING COMMITTEES HAS BEEN REDUCED TO 5 WHICH INCLUDES AUDIT & ASSESSMENT, FINANCE, INVESTMENT, GOVERNANCE, AND EXECUTIVE. ADDITIONAL AD HOC COMMITTEES MAY BE APPOINTED BY THE BOARD CHAIR WITH BOARD APPROVAL, AS REQUIRED TO MEET THE BOARD'S RESPONSIBILITIES. THE ELECTIONS COMMITTEE WAS ELIMINATED. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETE FORM 990 WAS MADE AVAILABLE FOR REVIEW TO THE PRESIDENT PRIOR TO THE APRIL 2018 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 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 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, FORMER CHIEF INVESTMENT OFFICER, VICE-PRESIDENT FOR FINANCE & TREASURER, FORMER TREASURER, DEAN OF THE COLLEGE, FORMER DEAN OF THE COLLEGE, VICE-PRESIDENT FOR STRATEGIC PLANNING & CHIEF OF STAFF, VICE-PRESIDENT FOR COMMUNICATIONS, VICE-PRESIDENT FOR ENROLLMENT, VICE-PRESIDENT FOR COLLEGE SERVICES (ASSISTANT VP FOR AUXILIARY SERVICES & ECONOMIC DEVELOPMENT), VICE-PRESIDENT FOR DEVELOPMENT AND ALUMNI RELATIONS, CHIEF INFORMATION TECHNOLOGY OFFICER, SECRETARY, CONTROLLER & ASSISTANT TREASURER, ASSISTANT VICE-PRESIDENT OF HUMAN RESOURCES, DIRECTOR OF COMPENSATION & RISK MANAGEMENT, DIRECTOR OF INVESTMENTS, DIRECTOR OF STUDENT FINANCIAL AID AND DIRECTOR OF FACILITIES MANAGEMENT. THE LAST REVIEW WAS CONDUCTED FOR COMPENSATION EFFECTIVE JULY 1, 2017. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 990 IS AVAILABLE ON THE GRINNELL COLLEGE WEBSITE. FORM 990-T 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 THE VALUE OF SPLIT-INTEREST AGREEMENTS -1,836,658. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 8,415. CHANGE IN ACCUMULATED POST RETIREMENT OBLIGATION -326,024. GRINNELL COLLEGE MEDICAL BENEFIT PLAN TRUST 733 BROAD STREET GRINNELL IA 501121690 451371997 HEALTH INSURANCE FOR EMPLOYEES 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 TRUSTEES OF GRINNELL COLLEGE INVESTMENT 570 314004 0 0 0.59100 POWESHIEK PETROLEUM CORPORATION 733 BROAD STREET GRINNELL IA 50112 730646866 OIL & GAS PRODUCTION IL TRUSTEES OF GRINNELL COLLEGE C 13771 23767 1.00000 1 CHARITABLE REMAINDER UNITRUSTS (2) TRUST CA TRUSTEES OF GRINNELL COLLEGE T 1 CHARITABLE REMAINDER UNITRUSTS (19) TRUST IA TRUSTEES OF GRINNELL COLLEGE T 1 CHARITABLE REMAINDER UNITRUSTS (1) TRUST IL TRUSTEES OF GRINNELL COLLEGE T 1 CHARITABLE REMAINDER UNITRUSTS (1) TRUST MN TRUSTEES OF GRINNELL COLLEGE T 1 CHARITABLE REMAINDER UNITRUSTS (1) TRUST AZ TRUSTEES OF GRINNELL COLLEGE T 1 CHARITABLE REMAINDER ANNUITY TRUSTS (1) TRUST IA TRUSTEES OF GRINNELL COLLEGE T 1 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 8078663 CASH TRANSFERRED CHARITABLE REMAINDER UNITRUSTS (1) R 158354 CASH TRANSFERRED CHARITABLE REMAINDER UNITRUSTS (3) S 447295 CASH TRANSFERRED CHARITABLE REMAINDER UNITRUSTS (1) S 770525 CASH TRANSFERRED