Grace Christian University

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

“A draft copy of the university'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 university president, members of senior management, employees, and certain volunteers are required to sign the university's conflict of interest statement. The statement must be kept on file and updated annually.”

“Compensation of members of senior management, including the university 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 268,544. Management and general expenses 0. Fundraising expenses 0. Total expenses 268,544. Supplies: program service expenses 221,439. Management and general expenses 18,105. Fundraising expenses 9,273. Total expenses 248,817. Class fees: program service expenses 178,666. Management and general expenses 0. Fundraising expenses 0. Total expenses 178,666. Sports: program service expenses 166,715. Management and general expenses 0. Fundraising expenses 0. Total expenses 166,715. Bad debt: program service expenses 0. Management and general expenses 143,009. Fundraising expenses 0. Total expenses 143,009. Repairs & maintenance: program service expenses 61,189. Management and general expenses 59,526. Fundraising expenses 0. Total expenses 120,715. Miscellaneous: program service expenses 55,215. Management and general expenses 40,268. Fundraising expenses 1,969. Total expenses 97,452. Bank fees: program service expenses 0. Management and general expenses 80,135. Fundraising expenses 0. Total expenses 80,135. Vehicles: program service expenses 15,194. Management and general expenses 46,402. Fundraising expenses 146. Total expenses 61,742. Professional development: program service expenses 22,178. Management and general expenses 29,621. Fundraising expenses 7,115. Total expenses 58,914. Community service: program service expenses 41,370. Management and general expenses 0. Fundraising expenses 0. Total expenses 41,370. Residence halls expense: program service expenses 38,620. Management and general expenses 0. Fundraising expenses 0. Total expenses 38,620. Meals: program service expenses 15,572. Management and general expenses 5,714. Fundraising expenses 5,774. Total expenses 27,060. Postage: program service expenses 12,994. Management and general expenses 10,621. Fundraising expenses 2,786. Total expenses 26,401. Telephone: program service expenses 20,743. Management and general expenses 4,260. Fundraising expenses 0. Total expenses 25,003. Events: program service expenses 23,312. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,312. Consumable equipment: program service expenses 21,159. Management and general expenses 0. Fundraising expenses 0. Total expenses 21,159. Graduation expenses: program service expenses 14,033. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,033. Accreditation expense: program service expenses 12,140. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,140. Dues and subscriptions: program service expenses 0. Management and general expenses 10,252. Fundraising expenses 0. Total expenses 10,252. Publications: program service expenses 337. Management and general expenses 0. Fundraising expenses 8,126. Total expenses 8,463. Registrar: program service expenses 7,265. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,265. Special projects: program service expenses 214. Management and general expenses 6,660. Fundraising expenses 0. Total expenses 6,874.”

“Unrealized loss on beneficial interest -9,702.”

“The finance committee of the university 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.”