Graceland University

“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, 2106. In total, graceland university contributed $981,252 to the plan during the year. Employees that participate in the plan listed on form 990, part vii, section a include: katie bash and kelly everett.”

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

“The primary mission of graceland university is to be a learning community, where students develop their potential for meaningful and productive lives through intellectual, physical, social and spiritual growth. This mission is guided by the belief that the curriculum of graceland university should be firmly rooted in the best liberal arts tradition, enhanced by practical experiences that prepare students for successful careers. As an institution dedicated to the worth of all persons, as a part of its mission, graceland university endeavors to foster christian values in harmony with the community of christ, its sponsoring church. To achieve its mission, graceland university relies upon an insightful and inspired administration, a competent and dedicated faculty, a compassionate and caring staff, and inquiring students committed to participate in the process of life-long learning.”

“Changes in net assets of related entity - the center -6,344,415. Minimum pension liability adjustment -2,864,567.”

“The process for oversight of the audit and the selection of an independent auditor did not change in 2019 from prior years.”