Graceland University

“The organization has 7 members who are a single class of members and are collectively referred to as the "corporate body": - 3 members of the first presidency of the community of christ - 3 members of the presiding bishopric of the community of christ - 1 member who is the acting president of the council of twelve apostles of the community of christ”

“Per the articles of incorporation, the board of trustees may consist of 12-27 members: - 9 trustees are elected by the world conference of the community of christ - up to 9 trustees may be appointed by the corporate body - up to 9 trustees may be appointed by the board of trustees - trustees may be removed by that group (world conference, corporate body, or board of trustees) that elected or appointed such trustee; except the corporate body may act for the world conference in the removal of a trustee elected by the world conference in any interim period between world conferences.”

“Upon completion, but prior to filing, the prepared form 990 is provided to trustees and officers through the group portal of my.graceland for their review. An in-depth review of the prepared form 990 is conducted with the business services committee of the board of trustees. Changes are made, if needed, and a revised form 990 is provided through the group portal of my.graceland. The prepared form 990 is submitted by the due date, (including extension(s)). The submitted form 990 is available upon request, and once posted to guidestar, is available to the world.”

“Annually, each board member and officer of the university, and all staff, trustees, advisors and other persons regularly invited to attend meetings of the board, shall sign a statement which affirms that such person: has received a copy of the conflict of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands that graceland university is a tax-exempt organization and that in order to maintain its federal tax, and other tax exemptions, it must engage primarily and sometimes exclusively in activities which accomplish one or more of its tax exempt purposes. Voting members of the board are required to disclose any possible conflicts of interest. The remaining members of the board will then discuss and determine if such a conflict exists, if it is avoidable, or if it is in the best interest of the board and university to proceed. Should any board member be found to be concealing a conflict of interest, appropriate disciplinary and corrective action will be taken.”

“The chairman of the board will work with other board members to determine the compensation for the ceo. The ceo sets the compensation for the top management and officers. Vice presidents set the compensation for key employees, with the approval of the ceo. In all cases, comparable salary data from similar institutions is reviewed, as well as a comparison of positions within the institution. All compensation deliberations and decisions are contemporaneously documented. In 2014, an independent compensation study was completed, at the board's request, to ascertain target ranges for the faculty salaries.”

“Governing documents and the conflict of interest policy are available to the public upon request. Financial statements are not available to the public.”

“Deferred compensation from defined benefit retirement plan: graceland university maintains a defined benefit retirement plan. Information with regard to the increase in actuarial value is not available on an employee by employee basis, and therefore cannot be reported in column (f), other compensation. Employees earn a benefit which is 1.1% of their average compensation for the five highest paid years times the number of years of service capped at thirty. In total, graceland university contributed $1,903,921 to the plan during the year. Employees that participate in the plan listed on form 990, part vii, section a include: kathleen clauson-bash, janice tiffany, steve anders, marian killpack, kelly everett, kirk bjorland.”

“Changes in net assets of related entity - the center 1,243,533. Realized gain on interest rate swap agreements 959,256. Minimum pension liability adjustment 874,941. Write off of a contribution receivable -3,103,802.”