Grand View University

“The synodical council of the southeastern iowa synod of the evangelical lutheran church in america ratifies and approves board members nominated and elected by the board.”

“Grand view's board of trustees delegates the detailed review of the financial statements and form 990 to the audit committee. If necessary, corrections are made following that review. Once finalized, the form 990 in its entirety is made available to the full board of trustees for review for the october board meeting and prior to filing with the irs.”

“Conflict of interest questionnaires are distributed and collected each academic year from the officers, trustees and key employees. Any potential conflicts are disclosed, reviewed by the vice president for administration and finance or designee and reported to the audit committee of the board. When necessary, individuals will abstain from any discussion or vote that pertains to these previously disclosed or newly developed conflicts of interest.”

“The compensation committee of the board of trustees determines the compensation for grand view's president and approves the compensation for other officers through a process which includes review and approval by independent persons, comparability data and contemporaneous substantiation of the deliberation and decision. The compensation committee (made up of five board of trustees members that are all independent members) meets each year and reviews the following, among other data: comparative salary data for all officer positions, the compensation history of the president, comparisons of the president's compensation to the faculty and staff increases, president's self-evaluation and evaluation of other officers, and the employment agreement with the president. Upon deliberation and based on the compensation philosophy adopted by the board of trustees, the compensation committee recommends the compensation of the president to the executive committee of the board of trustees. The compensation committee also approves the compensation of other university officers based on recommendations by the president. The executive committee reviews and approves the recommendations of the compensation committee. A summary report is provided annually to the full board of trustees regarding the compensation philosophy, the evaluation of the president's performance and the compensation package of the president and other university officers. The deliberation and decisions of all committees and the board of trustees are documented in minutes taken for all meetings. Data from the iowa association of independent colleges and universities is used annually for comparative salary data on all officer positions. In preparations for the compensation adjustments effective in january 2019, an independent compensation and benefits consultant was hired in fall 2018 to assist the compensation committee in its duties by providing a detailed compensation comparability study. The study utilized data based upon industry surveys and irs form 990 data for comparable organizations. Specific data sources included the bureau of labor statistics, the college and university professional association (cupa) administrators survey and yaffe & company 2017-18 executive compensation report for independent colleges & universities. In fall 2013, a similar compensation comparability study was conducted by a different independent consultant. The board of trustees for grand view university considers a rebuttable presumption of reasonableness to have been formed and is not aware of any excess benefit transactions. Pursuant to irs regulations, the university's executive compensation transactions are presumed to be reasonable as all of the following conditions have been met: 1) the compensation arrangement was approved in advance by the compensation committee consisting of all independent members, 2) the compensation committee obtained and relied upon appropriate comparability data prior to making decisions, and 3) the compensation committee adequately documented the basis for its decision at the time the decision was made.”

“The governing documents, conflict of interest policy and financial statements are available upon request in the office of the controller at grand view university, located at 1200 grandview ave, des moines, ia 50316.”

“Grand view university engages, equips, and empowers students to fulfill their individual potential and serve society. Committed to the development of the whole person - mind, body and spirit - and to preparing students for successful careers and responsible citizenship both in their communities and in a diverse and changing world, grand view offers a liberal arts education that: *challenges students to inquire with a disciplined and critical mind, communicate effectively, and display an awareness of the global issues that affect us all. *creates a community of learners where differing perspectives are welcome, where friendly interaction is the norm, and where intellectual and personal integrity is expected and modeled. *offers a supportive environment where students can engage in community with others, discern life purpose, and grow in leadership. *affirms christian faith and ethics as a vision for life, a vision that enhances our respect for the diversity and dignity of all people, for relating to others, and for the pursuit of lifelong learning. Informed by its danish lutheran heritage, grand view is a school for life.”

“Change in value of interest rate swap 490,887. Change in vlaue of debt service reserve fund -29,318.”

“The process has not changed from prior year.”