2025-05-08T09:58:32-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 2001 16TH STREET SUITE 1700 DENVER CO 80202 990 2023-07-01 420680387 THE TRUSTEES OF GRINNELL COLLEGE TRUS 6412699700 733 BROAD STREET GRINNELL IA 501122227 GERMAINE GROSS VP FOR FINANCE & TREASURER 6412699700 2025-05-06 1 1 SARAH HINTZ P00492291 3037795710 2025-05-05 2023 2025-03-06 01:10:19Z GRINNELL COLLEGE GERMAINE GROSS 733 BROAD STREET GRINNELL IA 501122227 1417777046 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 2532 1338 -177209 0 16723721 12104838 125562938 131669818 218746047 250201756 3413719 3460169 364446425 397436581 69009919 74231930 0 0 94429590 99763628 13544 249159 6870345 73370686 73526857 236823739 247771574 127622686 149665007 3023180797 3191620072 278805066 277555434 2744375731 2914064638 X SEE SCHEDULE O. 0 0 129246855 72866986 108215817 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 14 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 5 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. 33824273 534089 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. 31973290 830855 703365 STUDENT SERVICES INCLUDES REGISTRATION, COUNSELING, ADMISSION AND FINANCIAL AID, HEALTH SERVICES, INTERCOLLEGIATE ATHLETICS, LECTURES, CONVOCATIONS AND OTHER STUDENT PROGRAMS. 23274062 0 22750636 OTHER PROGRAM SERVICES INCLUDE AUXILIARY ENTERPRISES SUCH AS HOUSING AND FOOD SERVICE. 23274062 0 22750636 218318480 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 1 0 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 2207 0 1 2532 1 1 1 0 0 0 0 0 0 0 0 0 1 1 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 CA MA MI NY SC X GERMAINE GROSS 6412699700 733 BROAD ST GRINNELL IA 50112 JAINEN THAYER CHIEF INVESTMENT OFFICER 60.00 0.00 X 1033208 0 72831 ANNE HARRIS PRESIDENT 60.00 0.00 X 627118 0 160926 VALBONA SCHWAB DEPUTY CHIEF INVESTMENT OFFICER 50.00 0.00 X 619746 0 61078 GERMAINE Y GROSS VP FINANCE & TREASURER 60.00 0.00 X 409550 0 54438 LACEY F JOHNSON MANAGING DIRECTOR 50.00 0.00 X 401394 0 45322 BERONDA L MONTGOMERY DEAN & VP ACADEMIC AFFAIRS 60.00 0.00 X 307129 0 51388 JOSEPH P BAGNOLI VP ENROLLMENT & DEAN OF ADMISSION 60.00 0.00 X 275996 0 55941 ROBERT WELCH DIRECTOR OF INVESTMENTS 50.00 0.00 X 254890 0 27910 ELLEN F DE GRAFFENREID VP COMMUNICATION & MARKETING 60.00 0.00 X 229703 0 48656 HENRY W MOYER PROFESSOR OF POLITICAL SCIENCE 50.00 0.00 X 236632 0 35373 NANCY L COMBS ASSOCIATE VP FINANCE & ASST TREASURER 50.00 0.00 X 217431 0 44748 MYRNA Y HERNANDEZ CHIEF OF STAFF & VP ADMINISTRATION 60.00 0.00 X 212283 0 32935 JANA L GRIMES VP HUMAN RESOURCES 60.00 0.00 X 212067 0 32704 ELAINE M MARZLUFF PROFESSOR OF CHEMISTRY 50.00 0.00 X 177651 0 29568 MARGARET E BAIR DIRECTOR OF BOARD RELATIONS 50.00 0.00 X 109637 0 37668 MICHAEL B KAHN TRUSTEE & BOARD CHAIR 7.00 0.00 X X 0 0 0 CHRISTINA R CUTLIP TRUSTEE & VICE-CHAIR 4.00 0.00 X X 0 0 0 MATTHEW E WELCH TRUSTEE & VICE-CHAIR 4.00 0.00 X X 0 0 0 ODILE DISCH-BHADKAMKAR TRUSTEE 3.00 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 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 BERNARD JACKSON JR TRUSTEE & ALUMNI COUNCIL PRESIDENT 2.00 0.00 X 0 0 0 KEITH A JANTZEN TRUSTEE 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 MOHRMAN TRUSTEE (UNTIL 5/24) 2.00 0.00 X 0 0 0 GEORGE MOOSE TRUSTEE 2.00 0.00 X 0 0 0 JEANNE MYERSON TRUSTEE 3.00 0.00 X 0 0 0 YUKI NARULA TRUSTEE 2.00 0.00 X 0 0 0 ANGELA ONWUACHI-WILLIG TRUSTEE 3.00 0.00 X 0 0 0 STEVE PICKLE TRUSTEE 2.00 0.00 X 0 0 0 NANCY L RADERMECHER TRUSTEE 3.00 0.00 X 0 0 0 GABE RODRIGUEZ TRUSTEE 2.00 0.00 X 0 0 0 LAURA SANDER TRUSTEE 2.00 0.00 X 0 0 0 STEPHEN SANDQUIST TRUSTEE 2.00 0.00 X 0 0 0 W ED SENN TRUSTEE (UNTIL 3/24) 2.00 0.00 X 0 0 0 HAM SERUNJOGI TRUSTEE 2.00 0.00 X 0 0 0 KRISTIN STOUT TRUSTEE 3.00 0.00 X 0 0 0 SHERYL WALTER TRUSTEE 2.00 0.00 X 0 0 0 ERIC E WHITAKER TRUSTEE (UNTIL 5/24) 2.00 0.00 X 0 0 0 CONNIE WIMER TRUSTEE 2.00 0.00 X 0 0 0 5324435 0 791486 195 1 1 0 OPN INC 200 5TH AVE SE SUITE 201 CEDAR RAPIDS IA 52401 ARCHITECTURE 2033683 THE WEITZ COMPANY 611 5TH AVE SUITE 300 DES MOINES IA 50309 CONSTRUCTION 1114406 EAGLE CAPITAL 499 PARK AVENUE 17TH FLOOR NEW YORK NY 10022 INVESTMENT MANAGER 1005989 SUMMIT STREET CAPITAL MANAGEMENT LLC 509 MADISON AVE 19TH FLOOR NEW YORK NY 10022 INVESTMENT MANAGER 590833 NYEMASTER GOODE PC 700 WALNUT STREET 1300 DES MOINES IA 50309 ATTORNEY 532373 35 1173847 10930991 2043133 12104838 TUITION 611600 108223663 108223663 AUXILIARY SERVICES 611710 22472859 22472859 FEES, SOURCES, & FINES 611710 703365 703365 ALUMNI FEES 611710 277777 277777 INDIRECT COST RECOVERY 611710 1600 1600 -9446 -9446 131669818 18585109 -303268 18888377 3260251 3260251 180377 203468 -23091 -23091 -23091 1251568592 185052 1019965553 171444 231603039 13608 231616647 126059 231490588 MISCELLANEOUS REVENUE 900099 223009 223009 223009 397436581 131669818 -177209 253839134 200206 200206 54000362 54000362 20031362 20031362 3880405 340789 3140132 399484 3209565 1692084 1155578 361903 69699572 61045869 5819629 2834074 6086967 5514731 299176 273060 11721428 10001644 1170007 549777 5165691 4525984 402889 236818 1223573 87502 1136071 297568 297568 249159 249159 1310810 17477 1293333 4755311 3348589 1265301 141421 516517 468949 45265 2303 10664300 9960231 259025 445044 4526231 3659344 866287 600 21636 21636 8716543 7830699 648446 237398 4961620 3876762 604482 480376 1721346 1180283 334852 206211 6163661 6163661 14696378 14096484 439128 160766 818292 818292 OFF CAMPUS PROGRAM COST 4167998 4167998 AUXILIARY COGS 3400480 3400480 INVEST. EXCISE AND UBI 3193056 47840 3145216 SPECIAL PROGRAMS 505866 374148 131718 1865671 1445074 128646 291951 247771574 218318480 22582749 6870345 4485181 3793588 5512152 5638851 2961325 5891933 13277 3011 1152892 1185912 5467547 5020506 675172431 273882506 355666708 401289925 390081350 300352683 2254439662 2465371537 3400703 3072126 3023180797 3191620072 38949867 42797060 4675659 4021000 163932904 159025743 3119979 2966997 60051422 60379734 8075235 8364900 278805066 277555434 X 1884890637 1997943479 859485094 916121159 2744375731 2914064638 3023180797 3191620072 X 149665007 23148445 -3124545 X X 0 1 X 1 1 1 X 17404452 11462523 16685086 16723721 12104838 74380620 17404452 11462523 16685086 16723721 12104838 74380620 4917348 69463272 10462887 5023161 8647988 29110153 21771096 75015285 286953 1690918 708694 0 0 2686565 17948 2001 19470 18005 223009 280433 152362903 572393822 0.45590 0.47360 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISC REVENUE - 2019 AMOUNT: $ 17,948. 2020 AMOUNT: $ 2,001. 2021 AMOUNT: $ 19,470. 2022 AMOUNT: $ 18,005. 2023 AMOUNT: $ 223,009. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 0 1 314 0 0 1 3814 0 1 2699 6827 0 PART II-B, LINE 1: THE COST ESTIMATES FOR PART II-B LINES 1D, 1G, AND 1I INCLUDE AN ESTIMATE OF TIME SPENT BY EMPLOYEES ON THESE MATTERS. PART II-B LINE 1D - THE COST IS AN ESTIMATE OF EMPLOYEE TIME SPENT ON LETTERS WRITTEN ON SPECIFIC HIGHER EDUCATION MATTERS. PART II-B LINE 1G - THE COST IS AN ESTIMATE OF COSTS SPENT RELATED TO A MEETING WITH LEGISLATORS IN WASHINGTON, D.C. PART II-B LINE 1I - THE COST IS AN ESTIMATE OF THE PORTION OF DUES RELATED TO LOBBYING FOR IOWA INDEPENDENT COLLEGES AND UNIVERSITIES, THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES AND THE AMERICAN COUNCIL ON EDUCATION. 292496 11371135 0 0 X X X 0 0 1 X 2505850652 17565853 259903959 33380032 79091666 2670848766 2484418726 4208060 112841771 30729969 64887936 2505850652 2931550076 6186324 -370756701 26743262 55817711 2484418726 2090750442 3632433 924779487 23640134 63972152 2931550076 2069953401 7007029 96291971 23390030 59111929 2090750442 0.67000 0.33000 0.00000 0 0 100 4975220 4975320 473669472 200477047 273192425 80896878 61863702 19033176 115630761 11541757 104089004 401289925 2046216 F NON-MARKETABLE ALTERNATIVES 1070090113 F MARKETABLE ALTERNATIVES 1385722927 F OTHER SECURITIES 1120 F BENEFICIAL INTEREST IN TRUSTS 7511161 F 2465371537 ANNUITIES PAYABLE 8364900 8364900 X 338061701 23148445 213121 23361566 314700135 10097262 72639184 82736446 397436581 168372794 203468 203468 168169326 10097262 69504986 79602248 247771574 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, 2024, 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 203,468. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 9,653. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANT AND SCHOLARSHIPS 72,361,407. ALUMNI FEES 277,777. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 203,468. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT AND SCHOLARSHIPS 72,361,407. ALUMNI FEES 277,777. CHANGE IN VALUE OF POST RETIREMENT BENEFIT OBLIGATION -2,257,266. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT -876,932. 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 AND THE CARIBBEAN 0 0 INVESTMENTS 877146736 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 3000300 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 123175251 NORTH AMERICA 0 0 INVESTMENTS 11808000 SUB-SAHARAN AFRICA 0 0 INVESTMENTS 50160845 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 42753 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 190498 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 670884 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 45810 NORTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 90105 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 7731 SOUTH AMERICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 89338 SOUTH ASIA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 75488 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES ACADEMIC/EDUCATION 101802 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTS TO RECIPIENTS 935199 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECIPIENTS 5734761 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO RECIPIENTS 3672329 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS TO RECIPIENTS 634451 NORTH AMERICA 0 0 GRANTS TO RECIPIENTS 1206534 RUSSIA AND NEIGHBORING STATES 0 0 GRANTS TO RECIPIENTS 688748 SOUTH AMERICA 0 0 GRANTS TO RECIPIENTS 1937211 SOUTH ASIA 0 0 GRANTS TO RECIPIENTS 3463693 SUB-SAHARAN AFRICA 0 0 GRANTS TO RECIPIENTS 1758435 NORTH AMERICA 0 0 CONTRIBUTIONS RECEIVED EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 CONTRIBUTIONS RECEIVED EAST ASIA AND THE PACIFIC 0 0 CONTRIBUTIONS RECEIVED 0 0 0 0 0 0 1066195267 20441635 1086636902 SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 14 920806 CREDIT TO STUDENT ACCOUNT N/A N/A FELLOWSHIPS CENTRAL AMERICA AND THE CARIBBEAN 6 6393 PAID VIA CHECK N/A N/A PRIZES CENTRAL AMERICA AND THE CARIBBEAN 2 2000 PAID VIA CHECK N/A N/A INTERNSHIP CENTRAL AMERICA AND THE CARIBBEAN 1 6000 PAID VIA CHECK N/A N/A FELLOWSHIPS EAST ASIA AND THE PACIFIC 75 154562 PAID VIA CHECK N/A N/A SCHOLARSHIPS EAST ASIA AND THE PACIFIC 117 5456665 CREDIT TO STUDENT ACCOUNT N/A N/A PRIZES EAST ASIA AND THE PACIFIC 16 8425 PAID VIA CHECK N/A N/A INTERNSHIPS EAST ASIA AND THE PACIFIC 19 71907 PAID VIA CHECK N/A N/A AWARD EAST ASIA AND THE PACIFIC 1 40000 PAID VIA CHECK N/A N/A EXTERNSHIPS EAST ASIA AND THE PACIFIC 5 3201 PAID VIA CHECK N/A N/A EXTERNSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 2 1221 PAID VIA CHECK N/A N/A AWARD EUROPE (INCLUDING ICELAND & GREENLAND) 1 40000 PAID VIA CHECK N/A N/A INTERNSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 3 12477 PAID VIA CHECK N/A N/A FELLOWSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 17 39259 PAID VIA CHECK N/A N/A SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 71 3571173 CREDIT TO STUDENT ACCOUNT N/A N/A PRIZES EUROPE (INCLUDING ICELAND & GREENLAND) 6 8200 PAID VIA CHECK N/A N/A FELLOWSHIPS MIDDLE EAST AND NORTH AFRICA 2 1350 PAID VIA CHECK N/A N/A SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 10 633101 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS NORTH AMERICA 28 1191184 CREDIT TO STUDENT ACCOUNT N/A N/A PRIZES NORTH AMERICA 1 1800 PAID VIA CHECK N/A N/A SCHOLARSHIPS RUSSIA AND NEIGHBORING STATES 9 671891 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS SOUTH AMERICA 29 1890810 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS SOUTH ASIA 66 3365679 CREDIT TO STUDENT ACCOUNT N/A N/A SCHOLARSHIPS SUB-SAHARAN AFRICA 25 1720583 CREDIT TO STUDENT ACCOUNT N/A N/A FELLOWSHIPS NORTH AMERICA 3 5850 PAID VIA CHECK N/A N/A INTERNSHIPS NORTH AMERICA 2 6000 PAID VIA CHECK N/A N/A CATALYST NORTH AMERICA 1 1500 PAID VIA CHECK N/A N/A EXTERNSHIP NORTH AMERICA 1 200 PAID VIA CHECK N/A N/A PRIZES RUSSIA AND NEIGHBORING STATES 1 300 PAID VIA CHECK N/A N/A FELLOWSHIPS RUSSIA AND NEIGHBORING STATES 6 11671 PAID VIA CHECK N/A N/A INTERNSHIP RUSSIA AND NEIGHBORING STATES 1 3386 PAID VIA CHECK N/A N/A EXTERNSHIP RUSSIA AND NEIGHBORING STATES 1 1500 PAID VIA CHECK N/A N/A PRIZES SOUTH AMERICA 3 550 PAID VIA CHECK N/A N/A FELLOWSHIPS SOUTH AMERICA 5 5293 PAID VIA CHECK N/A N/A INTERNSHIPS SOUTH AMERICA 7 37302 PAID VIA CHECK N/A N/A EXTERNSHIPS SOUTH AMERICA 4 3256 PAID VIA CHECK N/A N/A PRIZES SOUTH ASIA 15 9750 PAID VIA CHECK N/A N/A FELLOWSHIPS SOUTH ASIA 19 35663 PAID VIA CHECK N/A N/A INTERNSHIPS SOUTH ASIA 10 51752 PAID VIA CHECK N/A N/A EXTERNSHIP SOUTH ASIA 1 850 PAID VIA CHECK N/A N/A PRIZES SUB-SAHARAN AFRICA 7 6575 PAID VIA CHECK N/A N/A FELLOWSHIPS SUB-SAHARAN AFRICA 12 17814 PAID VIA CHECK N/A N/A INTERNSHIPS SUB-SAHARAN AFRICA 2 10977 PAID VIA CHECK N/A N/A CATALYST SUB-SAHARAN AFRICA 1 1498 PAID VIA CHECK N/A N/A EXTERNSHIP SUB-SAHARAN AFRICA 1 988 PAID VIA CHECK N/A N/A 1 1 1 1 1 1 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 II, LINE 1 ACCOUNTING METHOD: THE ORGANIZATIONS FINANCIAL STATEMENTS ARE PREPARED ON THE ACCRUAL BASIS. PART IV, LINE 6: THE COLLEGE HAS FILED FORM 5713 IN AN ABUNDANCE OF TRANSPARENCY TO DISCLOSE THE ONLY OPERATIONS IN QATAR AS A NINE-HOUR FLIGHT LAYOVER, WHERE 18 STUDENTS, STAFF, AND FACULTY SLEPT IN A HOTEL AND WERE TRANSPORTED BETWEEN THE AIRPORT AND HOTEL BEFORE RESUMING THEIR TRAVELS VIA QATAR AIRWAYS. X X X X X X 1 WASHBURN & MCGOLDRICK LLC 24 N BRYN MAWR AVENUE 252 BRYN MAWR PA 19010 FUNDRAISING COUNSEL 0 0 14000 -14000 BENTZ WHALEY FLESSNER 7900 XERXES AVE S SUITE 980 MINNEAPOLIS MN 55431 FUNDRAISING COUNSEL 0 0 46000 -46000 COMMUNITY COUNSELLING SERVICE CO LLC 527 MADISON AVE 5TH FL NEW YORK NY 10022 FEASIBILITY/PLANNING STUDY 0 0 173639 -173639 PERFORMANCE ENHANCEMENT GROUP LTD 5340 WESLAYAN ST PO BOX 25028 HOUSTON TX 77265 ALUMNI ATTITUDE STUDY 0 0 15520 -15520 249159 -249159 AL AK AZ AR CA CO CT DE DC 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 CITY OF GRINNELL 23674 351 FMV FOOD GENERAL SUPPORT GREATER POWESHIEK COMMUNITY FOUNDATION 1510 PENROSE STREET GRINNELL IA 50112 421298055 501(C)(3) 5500 0 N/A N/A GENERAL SUPPORT GRINNELL AREA CHAMBER OF COMMERCE 833 4TH AVENUE GRINNELL IA 50112 420286455 501(C)(6) 7432 952 FMV TRANSPORTATION AND HOTEL GENERAL SUPPORT GRINNELL FIRE AUXILIARY 1020 SPRING STREET GRINNELL IA 50112 461055210 501(C)(3) 7315 0 N/A N/A GENERAL SUPPORT GRINNELL REGIONAL MEDICAL CENTER 210 4TH AVENUE GRINNELL IA 50112 420933383 501(C)(3) 25000 0 N/A N/A GENERAL SUPPORT GRINNELL SCHOOL OF MUSIC 720 5TH AVENUE GRINNELL IA 50112 883118049 501(C)(3) 29680 0 N/A N/A GENERAL SUPPORT GRINNELL-NEWBURG COMMUNITY SCHOOL 925 BROAD STREET GRINNELL IA 50112 426036570 CITY OF GRINNELL 5950 2140 FMV TRANSPORTATION AND FOOD GENERAL SUPPORT LINK INC 1510 PENROSE STREET GRINNELL IA 50112 842131856 501(C)(3) 10884 0 N/A N/A GENERAL SUPPORT MICA 611 4TH AVENUE GRINNELL IA 50112 420923311 501(C)(3) 7200 0 N/A N/A GENERAL SUPPORT AHRENS PARK FOUNDATION 1510 PENROSE STREET GRINNELL IA 50112 421465766 501(C)(3) 35000 0 N/A N/A GENERAL SUPPORT 9 1 SCHOLARSHIPS 1257 52964310 N/A N/A PRIZES 76 112807 N/A N/A FELLOWSHIPS 238 515821 N/A N/A INTERNSHIPS 60 313474 N/A N/A AWARDS 2 80000 N/A N/A LOAN PAYMENTS 2 3750 N/A N/A EXTERNSHIPS 16 10200 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 PARTNERSHIPS, PLANNING, AND RESEARCH. 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 0 0 0 0 0 0 0 1 1 1 JAINEN THAYER CHIEF INVESTMENT OFFICER 586253 0 445939 0 1016 0 33000 0 39831 0 1106039 0 0 0 ANNE HARRIS PRESIDENT 607313 0 1500 0 18305 0 33000 0 127926 0 788044 0 0 0 VALBONA SCHWAB DEPUTY CHIEF INVESTMENT OFFICER 414426 0 204690 0 630 0 33000 0 28078 0 680824 0 0 0 GERMAINE Y GROSS VP FINANCE & TREASURER 363447 0 44564 0 1539 0 33000 0 21438 0 463988 0 0 0 LACEY F JOHNSON MANAGING DIRECTOR 311016 0 90000 0 378 0 33000 0 12322 0 446716 0 0 0 BERONDA L MONTGOMERY DEAN & VP ACADEMIC AFFAIRS 300683 0 5000 0 1446 0 30925 0 20463 0 358517 0 0 0 JOSEPH P BAGNOLI VP ENROLLMENT & DEAN OF ADMISSION 262233 0 11500 0 2263 0 27919 0 28022 0 331937 0 0 0 ROBERT WELCH DIRECTOR OF INVESTMENTS 213875 0 40704 0 311 0 25460 0 2450 0 282800 0 0 0 ELLEN F DE GRAFFENREID VP COMMUNICATION & MARKETING 226375 0 2500 0 828 0 23573 0 25083 0 278359 0 0 0 HENRY W MOYER PROFESSOR OF POLITICAL SCIENCE 233542 0 0 0 3090 0 23573 0 11800 0 272005 0 0 0 NANCY L COMBS ASSOCIATE VP FINANCE & ASST TREASURE 196651 0 19000 0 1780 0 22047 0 22701 0 262179 0 0 0 MYRNA Y HERNANDEZ CHIEF OF STAFF & VP ADMINISTRATION 208569 0 2500 0 1214 0 21310 0 11625 0 245218 0 0 0 JANA L GRIMES VP HUMAN RESOURCES 205715 0 5000 0 1352 0 21261 0 11443 0 244771 0 0 0 ELAINE M MARZLUFF PROFESSOR OF CHEMISTRY 169940 0 6530 0 1181 0 17899 0 11669 0 207219 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, 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. 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 4220000 60381280 13196 366752 60001332 2014 0 1 1 1 B 6735000 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 0.00000 0.00010 0.00010 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: 10/22/2024 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. 35871 SCHOLARSHIPS EDUCATION MICHAEL MACKENZIE FAMILY MEMBER OF ANNE F. HARRIS, PRESIDENT 67388 WAGES & BENEFITS 0 JULIE BAUMANN FAMILY MEMBER OF JOESPH P. BAGNOLI, VP OF ENROLLMENT 111882 WAGES & BENEFITS 0 CHRISTOPHER BAIR FAMILY MEMBER OF MARGARET JONES BAIR, SECRETARY 76105 WAGES & BENEFITS 0 X 9 292496 INSURED VALUE X 5000 MARKET VALUE X 143 MARKET VALUE X 48 1745494 AVERAGE HIGH/LOW PRICE 2 0 1 1 PART I, COLUMN (B): SCHEDULE M, 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: 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 2,207 RELATED TO FORM 1096 IS MADE UP OF 488 1099 FORMS AND 1,719 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 2025 TRUSTEE MEETING. A COMPLETE 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. THE TRUSTEE OR OFFICER MAY NOT PARTICIPATE IN THE DELIBERATION OF THE TRANSACTION. APPROVAL OF PARTICIPATION IN THE TRANSACTION MAY BE GIVEN ONLY UPON A FINDING THAT THE SUBJECT TRANSACTION IS ON TERMS AT LEAST AS FAVORABLE TO THE COLLEGE AS IT WOULD BE AVAILABLE TO AN UNAFFILIATED PERSON. 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. ALL 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 -876,932. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 9,653. CHANGE IN VALUE OF POST RETIREMENT BENEFIT OBLIGATIONS -2,257,266. FORM 990, PART XII, PART 2C: THE PROCESS FOR OVERSEEING AND SELECTING AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 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