Trustees of Grinnell College

“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.”

“The complete form 990 was made available for review to the president and interim treasurer prior to the may 2022 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.”

“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.”

“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 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 vice president for enrollment, associate vice president for analytics & institutional research, finkelman dean, chief diversity officer & vp of 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, 2021.”

“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.”

“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.”

“Volunteers include individuals who assist admissions: the center for careers, life and service; alumni council and other community volunteers.”

“The college filed 305 1099 forms and 1,664 1098-t forms for a total of 1,969.”

“Change in value of split-interest agreement -1,850,800. Change in cash surrender value of life insurance 8,221. Change in accumulated post retirement benefits -1,175,449.”