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.”

“Supplies: program service expenses 197,996. Management and general expenses 18,629. Fundraising expenses 14,835. Total expenses 231,460. Repairs & maintenance: program service expenses 76,704. Management and general expenses 48,337. Fundraising expenses 0. Total expenses 125,041. Sports: program service expenses 93,309. Management and general expenses 0. Fundraising expenses 0. Total expenses 93,309. Bad debt: program service expenses 0. Management and general expenses 81,312. Fundraising expenses 0. Total expenses 81,312. Professional development: program service expenses 25,985. Management and general expenses 42,434. Fundraising expenses 465. Total expenses 68,884. Class fees: program service expenses 59,763. Management and general expenses 0. Fundraising expenses 0. Total expenses 59,763. Community service: program service expenses 58,591. Management and general expenses 0. Fundraising expenses 0. Total expenses 58,591. Miscellaneous: program service expenses 29,458. Management and general expenses 23,710. Fundraising expenses 0. Total expenses 53,168. Bank fees: program service expenses 0. Management and general expenses 47,639. Fundraising expenses 0. Total expenses 47,639. Events: program service expenses 46,197. Management and general expenses 0. Fundraising expenses 0. Total expenses 46,197. Consumable equipment: program service expenses 42,400. Management and general expenses 1,049. Fundraising expenses 485. Total expenses 43,934. Vehicles: program service expenses 9,024. Management and general expenses 33,995. Fundraising expenses 571. Total expenses 43,590. Postage: program service expenses 24,304. Management and general expenses 12,123. Fundraising expenses 6,258. Total expenses 42,685. Residence halls expense: program service expenses 33,120. Management and general expenses 0. Fundraising expenses 0. Total expenses 33,120. Telephone: program service expenses 16,770. Management and general expenses 4,193. Fundraising expenses 0. Total expenses 20,963. Special projects: program service expenses 1,354. Management and general expenses 14,771. Fundraising expenses 0. Total expenses 16,125. Graduation expenses: program service expenses 14,522. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,522. Meals: program service expenses 11,513. Management and general expenses 2,442. Fundraising expenses 555. Total expenses 14,510. Publications: program service expenses 0. Management and general expenses 0. Fundraising expenses 12,926. Total expenses 12,926. Accreditation expense: program service expenses 11,423. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,423. Dues and subscriptions: program service expenses 0. Management and general expenses 10,725. Fundraising expenses 0. Total expenses 10,725. Financial aid expense: program service expenses 7,379. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,379. Registrar: program service expenses 5,588. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,588. Fund development: program service expenses 0. Management and general expenses 0. Fundraising expenses 256. Total expenses 256.”

“Unrealized loss on beneficial interest -18,761. Unrealized gain on revaluation of investment in affiliate 338,195.”

“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.”