Graceland University

“The articles of incorporation were amended and restated on april 28, 2018 as follows: article ii was modified to state that the purposes for which the corporation is organized are to maintain and conduct an accredited, nonsectarian institution of higher education which aligns with the enduring principles of its founding and sponsoring church, community of christ, and to do any and all lawful corporate acts performed by duly organized and lawful entities, without limitation. Article v was modified to state that the corporation's members consist of those persons comprising the first presidency of community of christ (the "church"), the presiding bishopric of the church, and the president of the council of twelve apostles of the church, such persons being a single class of members that is collectively referred to herein as the "corporate body" of the church. Article vi was modified to state that the board of trustees shall consist of at least fifteen but not more than twenty-one trustees. Up to seven trustees shall be elected by the corporate body, up to seven trustees nominated by the corporate body shall be elected by duly serving church delegates at the world conference of the church at each triennial world conference, and up to seven trustees may be elected by majority vote of the full board of trustees. Trustees shall serve a term of three years. Any trustee may serve three terms, although each term shall be evaluated independently with no right of automatic re-election, renewal or re-appointment; provided that after nine total years on the board, the trustee may not seek re-election or be re-appointed to another term on the board until six years in the interim have passed, at which time that person is eligible for appointment or election to an additional term of office. No trustee may serve on the board in that trustee's lifetime more than twelve years total, unless otherwise specified in the the articles. The bylaws were amended and restated on april 28, 2018 as follows: article ii was added with provision that the members, as defined in the articles of incorporation, shall hold an annual meeting in the spring at a designated time and place. Article iv (previously article iii) was modified to incorporate the changes to board of trustee membership as defined in the amended and restated articles of incorporation. Articles vi - viii (previously articles v - vii) updated the responsibilities of the board officers. Article xiv (previously article xiii) modified the standing committees of the board to be comprised of the executive committee, the academic affairs committee, the business services committee and the committee on trusteeship.”

“The corporation's members consist of those persons comprising the first presidency of community of christ (the "church"), the presiding bishopric of the church, and the president of the council of twelve apostles of the church, such persons being a single class of members that is collectively referred to herin as the "corporate body" of the church. The corporate body shall act by a majority vote.”

“Per the articles of incorporation, the board of trustees may consist of 15-21 members: - up to 7 trustees are elected by the world conference of the community of christ - up to 7 trustees may be appointed by the corporate body - up to 7 trustees may be appointed by the board of trustees a trustee elected by the corporate body or world conference may be removed from office at any time, with or without cause, by the respective body that elected the trustee. During the period between the world conferences, the corporate body may act on behalf of the world conference and remove any trustee elected by the world conference. Trustees elected by the full board of trustees may be removed from office at any time, with or without cause, by an affirmative vote of two-thirds of the full board of trustees.”

“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 president. The president sets the compensation for the top management and officers. Vice presidents set the compensation for key employees, with the approval of the president. 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, not to exceed 30 years. Effective august 1, 2006, the defined beneift plan was closed to new employees. On september 30, 2016, the university froze the benefit accrual of the defined benefit plan. A measurement period of may 31, 2016 to september 30, 2016 was used to calculate the impact of the curtailment at september 30, 2016. In total, graceland university contributed $1,000,000 to the plan during the year. Employees that participate in the plan listed on form 990, part vii, section a include: john sellars, katie bash, kelly everett, tammy everett, claudia horton and brian white.”

“Stassi cramm received compensation from related organization for her position as presiding bishop, first presidency counselor of community of christ.”

“Changes in net assets of related entity - the center -2,001,664. Minimum pension liability adjustment 2,414,097.”