Grace Christian University

“Ken kemper (college president) and keith kemper (director) are brothers.”

“A draft copy of the college's form 990 is reviewed and approved by members of management and the finance committee of the board prior to final submission. The final form 990 is available to the full board upon request.”

“Each board member, the college president, members of senior management, employees, and certain volunteers are required to sign the college's conflict of interest statement. The statement must be kept on file and updated annually.”

“Compensation of members of senior management, including the college president is determined annually by the executive committee during the annual budgeting process. Comparable data is considered; however, budgetary constraints generally dictate a limit to compensation levels. The results of this process are documented and maintained in the personnel files of the respective employees.”

“Governing documents, policies and financial statements are available to interested parties upon request.”

“Books: program service expenses 184,399. Management and general expenses 0. Fundraising expenses 0. Total expenses 184,399. Class fees: program service expenses 145,344. Management and general expenses 0. Fundraising expenses 0. Total expenses 145,344. Repairs & maintenance: program service expenses 71,975. Management and general expenses 49,681. Fundraising expenses 0. Total expenses 121,656. Bad debt: program service expenses 0. Management and general expenses 111,989. Fundraising expenses 0. Total expenses 111,989. Sports: program service expenses 79,074. Management and general expenses 0. Fundraising expenses 0. Total expenses 79,074. Events: program service expenses 68,342. Management and general expenses 0. Fundraising expenses 0. Total expenses 68,342. Professional development: program service expenses 23,326. Management and general expenses 39,415. Fundraising expenses 933. Total expenses 63,674. Miscellaneous: program service expenses 39,931. Management and general expenses 17,842. Fundraising expenses 0. Total expenses 57,773. Vehicles: program service expenses 9,346. Management and general expenses 44,177. Fundraising expenses 1,020. Total expenses 54,543. Consumable equipment: program service expenses 47,955. Management and general expenses 3,747. Fundraising expenses 1,107. Total expenses 52,809. Postage: program service expenses 20,990. Management and general expenses 11,535. Fundraising expenses 7,731. Total expenses 40,256. Bank fees: program service expenses 1,915. Management and general expenses 36,431. Fundraising expenses 0. Total expenses 38,346. Residence halls expense: program service expenses 32,215. Management and general expenses 0. Fundraising expenses 0. Total expenses 32,215. Community service: program service expenses 28,522. Management and general expenses 0. Fundraising expenses 0. Total expenses 28,522. Accreditation expense: program service expenses 20,961. Management and general expenses 5,884. Fundraising expenses 0. Total expenses 26,845. Telephone: program service expenses 15,910. Management and general expenses 3,978. Fundraising expenses 0. Total expenses 19,888. Graduation expenses: program service expenses 16,413. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,413. Special projects: program service expenses 6,065. Management and general expenses 7,110. Fundraising expenses 0. Total expenses 13,175. Meals: program service expenses 10,017. Management and general expenses 2,163. Fundraising expenses 33. Total expenses 12,213. Publications: program service expenses 0. Management and general expenses 0. Fundraising expenses 10,062. Total expenses 10,062. Financial aid expense: program service expenses 8,720. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,720. Dues and subscriptions: program service expenses 0. Management and general expenses 8,550. Fundraising expenses 0. Total expenses 8,550. Registrar: program service expenses 5,604. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,604. Fund development: program service expenses 0. Management and general expenses 0. Fundraising expenses 54. Total expenses 54.”

“Unrealized gain on beneficial interest 4.”

“The finance committee of the college and members of senior management assume responsibility for the annual financial statement audit and selection of the independent audit firm. There have been no changes to this process during the current year.”