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 herein as the "corporate body" of the church. The corporate body shall act by a majority vote.”

“Per the articles and bylaws, the board may consist of up to 21 members: - up to 7 trustees are elected by the world conference of the community of christ - up to 7 trustees may be elected by the corporate body - up to 7 trustees may be elected 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.”

“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. Employees that participate in the defined benefit plan listed on form 990, part vii, section a include kelly everett. Graceland university received an irs determination letter in december 2020 confirming that both the defined benefit and defined contribution plans have "church plan status and, therefore, are not subject to erisa. Graceland then applied for a refund of prior year premiums paid into the pension benefit guarantee corporation, approved at $1.4m, expected to be received by the plan in 2021-22. The contribution to the defined benefit plan in 2020-21 was $0, due to the expected pbgc premium refund.”

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

“Minimum pension liability adjustment 4,557,413. Loss on estinguishment of debt -150,038. Changes in net assets of related entity - the center 5,566,791.”