Civic Intelligence

Grace University

990 • Fiscal year 2019 • EIN 47-0384159

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 06, 2020

Organization ProfileN/A

View Organization Page

4309 N 142nd StreetOmaha, NE 68164-5038

(402) 676-7617

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

60th percentile

0.25x

Higher debt load relative to assets than 60% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

95th percentile

7.05x

Higher debt load relative to revenue than 95% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

38th percentile

0.0%

Higher net margin than 38% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

33rd percentile

$85,190

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 47.3% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

79th percentile

17%

Faster asset growth than 79% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-97%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$5,102,543

Up $729,450 (+17%) from 2018

Net Assets

Up

$3,832,679

Up $176,946 (+4.8%) from 2018

Liabilities

Up

$1,269,864

Up $552,504 (+77%) from 2018

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin38th percentile

Revenue

Down

$180,031

Down $5,403,033 (-97%) from 2018

Expenses

Down

$180,031

Down $7,199,990 (-98%) from 2018

Net Income

Up

$0

Up $1,796,957 (+100%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2010: $16,468,323Liabilities 2010: $4,101,614Net Assets 2010: $12,366,7092010Assets 2011: $16,361,041Liabilities 2011: $3,961,966Net Assets 2011: $12,399,0752011Assets 2012: $16,723,405Liabilities 2012: $3,747,333Net Assets 2012: $12,976,0722012Assets 2013: $16,580,553Liabilities 2013: $4,638,559Net Assets 2013: $11,941,9942013Assets 2014: $15,757,612Liabilities 2014: $5,278,435Net Assets 2014: $10,479,1772014Assets 2015: $13,927,239Liabilities 2015: $5,648,537Net Assets 2015: $8,278,7022015Assets 2016: $11,838,922Liabilities 2016: $4,790,852Net Assets 2016: $7,048,0702016Assets 2017: $6,686,684Liabilities 2017: $1,244,440Net Assets 2017: $5,442,2442017Assets 2018: $4,373,093Liabilities 2018: $717,360Net Assets 2018: $3,655,7332018Assets 2019: $5,102,543Liabilities 2019: $1,269,864Net Assets 2019: $3,832,6792019Assets 2020: $3,680,521Liabilities 2020: $438,495Net Assets 2020: $3,242,0262020Assets 2021: $1,715,138Liabilities 2021: $0Net Assets 2021: $1,715,1382021

Highlighted filing

2019

Assets$5,102,543
Liabilities$1,269,864
Net Assets$3,832,679
Open 2019 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $9,054,8432010Expenses 2011: $9,475,9572011Expenses 2012: $9,687,4972012Revenue 2013: $9,040,882Expenses 2013: $10,233,402Net Income 2013: -$1,192,5202013Revenue 2014: $12,325,038Expenses 2014: $13,417,142Net Income 2014: -$1,092,1042014Revenue 2015: $11,380,324Expenses 2015: $13,473,545Net Income 2015: -$2,093,2212015Revenue 2016: $11,982,411Expenses 2016: $13,096,517Net Income 2016: -$1,114,1062016Revenue 2017: $7,424,125Expenses 2017: $9,035,363Net Income 2017: -$1,611,2382017Revenue 2018: $5,583,064Expenses 2018: $7,380,021Net Income 2018: -$1,796,9572018Revenue 2019: $180,031Expenses 2019: $180,031Net Income 2019: $02019Revenue 2020: $47,219Expenses 2020: $237,892Net Income 2020: -$190,6732020Revenue 2021: $14,095Expenses 2021: $1,540,983Net Income 2021: -$1,526,8882021

Highlighted filing

2019

Revenue$180,031
Expenses$180,031
Net Income$0
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 6, 2020
Return Version
2018v3.2
Gross Receipts
$1,922,248
Mission and Program Overview

Mission

Grace university exists to develop servant leaders for the home, the church, and the world through excellence in biblically-integrated education and through life change in a personal, discipling environment, all for the glory of god.

Grace university exists to develop leaders for the home, the church, and the world through excellence in biblically-integrated education and through life change in a personal, discipling environment, all for the glory of god.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,668,754$3,213,385▲ $1,544,631
Savings and Temporary Cash Investments$969,858$946,673▼ $23,185
Land, Buildings, and Equipment, Net$542,082$0▼ $542,082
Investments in Publicly Traded Securities$498,851$12,955▼ $485,896
Total Assets$4,373,093$5,102,543▲ $729,450
Other Assets Total$693,548$929,530▲ $235,982
Liabilities
Other Liabilities$460,149$1,055,864▲ $595,715
Unsecured Notes Loans Payable$214,000$214,000→ $0
Accounts Payable and Accrued Expenses$43,211--
Total Liabilities$717,360$1,269,864▲ $552,504
Net Assets / Fund Balance
Unrestricted Net Assets$761,286$3,832,679▲ $3,071,393
Permanently Rstr Net Assets$1,764,813$0▼ $1,764,813
Temporarily Rstr Net Assets$1,129,634$0▼ $1,129,634
Total Net Assets Fund Balance$3,655,733$3,832,679▲ $176,946
Total Liabilities and Net Assets / Fund Balance$4,373,093$5,102,543▲ $729,450

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$226,397--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$2,334,165$-2,334,165---
2017$2,692,680-▲ $153,534-$2,334,165
2016$2,580,744$2,000▲ $109,936-$2,692,680
2015$2,537,255-▲ $92,620-$2,580,744
2014$2,497,879$2,095▲ $92,821-$2,537,255
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Deb OsmansonVP of AdministrationFT$85,190$85,190
Anita RodriguezDirector of Finance & AccountingFT$71,151$71,151
Tom RocheExecutive Vice PresidentFT$61,500$61,500
Ray MillerDirector of Financial AidFT$59,388$59,388
Michael GodingCEOPT$52,700$52,700
John HolmesVP Student Life and Donor RelationsFT$31,431$31,431
Chris PruittVP of Enrollment ServicesFT$23,675$23,675
Karl PagenkemperVP of AcademicsFT$17,741$17,741

Board Members and Trustees

NameTitle
Doug Troupe1st Vice Chair
Andrew SigersonTrustee
Curt HoferTrustee
Eric TompkinsTrustee
Grace LongleyTrustee
Joel JensenTrustee
John HundahlTrustee
Tom MorrisonTrustee
Jerry PetersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,611
Program Service Revenue
$0
Investment Income
$168,200
Other Revenue
$10,220
All Other Contributions
$1,611
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$120,017
Other Expenses$60,014
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$110,983-$110,983
Insurance-$61,494-$61,494
Fees for Services Accounting-$37,050-$37,050
Other Expenses-$18,878-$18,878
Fees for Services Legal-$14,447-$14,447
Payroll Taxes-$8,490-$8,490
Office Expenses-$2,205-$2,205
Fees for Services Management-$1,477-$1,477
Travel-$1,141-$1,141
Pension Plan Contributions-$544-$544
All Other Expenses-$-299,953-$-299,953
Total Functional Expenses$0$180,031$0$180,031
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Beneficial Interest in Land$703,133
Annuities Payable$352,731
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The organization adopted a plan of dissolution effective april 2, 2019. As part of the plan of dissolution, certain of the prior board of trustees were designated as representatives to wind down the activities of the organization and to take all necessary and reasonable actions to effect the dissolution of the organization.”

Form 990, Part VI, Section A, Line 4

“Subsequent to the fiscal year end of june 30, 2018 the board met and approved a plan of dissolution on october 8, 2018. It was determined that the mission of the organization could no longer be accomplished due to a lack of financial resources.”

Form 990, Part VI, Section A, Line 8B

“Grace university does not have any formal committees whereas the committee has the authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“Grace university's form 990 is reviewed by the chief executive officer of the institution. Management and board do not consider it necessary to be reviewed by the board prior to the filing. A filed copy is provided to the board president and treasurer.”

Form 990, Part VI, Section B, Line 12C

“The board annually reviews and signs a conflict disclosure statement.”

Form 990, Part VI, Section C, Line 19

“Grace university does not make their governing documents, conflict of interest policy, or financial statements available to the public.”

Filing and Contact Details

Filer

Filer Name
Grace University
EIN
47-0384159
Phone
4026767617
Address
4309 N 142ND STREET, OMAHA, NE 68164-5038

Signing Officer

Name
Michael Goding
Title
CEO
Phone
4026767617
Signed
2020-07-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Goding
Formed
1943
Legal Domicile
Ne
Voting Board Members
0
Independent Board Members
0
Employees
152
Volunteers
0

Preparer

Firm
Lutz and Company Pc
Address
13616 CALIFORNIA ST STE 300, OMAHA, NE 68154-5336
Preparer
Deyna C Rouse
Phone
4024968800
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“Subsequent to the fiscal year end of june 20,2018 the board met and approved a plan of dissolution on october 8, 2018. It was determined that the mission of the organization can no longer be accomplished due to a lack of financial resources.”

Financial Statement Notes

PART V, LINE 4:

“As part of the organization's plan of dissolution, funds that were previously considered endowed were no longer deemed to be endowed. Communication occurred with the donors that previously endowed those funds to obtain their consent to utilize the funds to settle the organization's wind down obligations and transfer any remaining funds to other colleges (all 501(c)(3) entities) with missions similar to that of the organization.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt01ST VICE CHAIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9VP OF ADMINISTRATION
IRS990/Form990PartVIISectionAGrp/TitleTxt10CEO
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IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR OF FINANCE & ACCOUNTING
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR OF FINANCIAL AID
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IRS990/InsuranceGrp/ManagementAndGeneralAmt061494
IRS990/InsuranceGrp/TotalAmt061494
IRS990/InvestmentIncomeGrp/ExclusionAmt0174376
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0174376
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0498851
IRS990/InvestmentsPubTradedSecGrp/EOYAmt012955
IRS990/IRPDocumentCnt037
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0542082
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt00
IRS990/LegalDomicileStateCd0NE
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt01742217
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0GRACE UNIVERSITY EXISTS TO DEVELOP SERVANT LEADERS FOR THE HOME, THE CHURCH, AND THE WORLD THROUGH EXCELLENCE IN BIBLICALLY-INTEGRATED EDUCATION AND THROUGH LIFE CHANGE IN A PERSONAL, DISCIPLING ENVIRONMENT, ALL FOR THE GLORY OF GOD.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt03655733
IRS990/NetAssetsOrFundBalancesEOYAmt03832679
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-6176
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-6176
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02205
IRS990/OfficeExpensesGrp/TotalAmt02205
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0693548
IRS990/OtherAssetsTotalGrp/EOYAmt0929530
IRS990/OtherChangesInNetAssetsAmt0176946
IRS990/OtherExpensesGrp/Desc0OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc1CONTRACT SERVICES
IRS990/OtherExpensesGrp/Desc2BUILDING MAINTENANCE
IRS990/OtherExpensesGrp/Desc3UTILITIES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt099261
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt197546
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt226468
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt318878
IRS990/OtherExpensesGrp/TotalAmt099261
IRS990/OtherExpensesGrp/TotalAmt197546
IRS990/OtherExpensesGrp/TotalAmt226468
IRS990/OtherExpensesGrp/TotalAmt318878
IRS990/OtherLiabilitiesGrp/BOYAmt0460149
IRS990/OtherLiabilitiesGrp/EOYAmt01055864
IRS990/OtherRevenueMiscGrp/BusinessCd0611310
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt010220
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt010220
IRS990/OtherRevenueTotalAmt010220
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0110983
IRS990/OtherSalariesAndWagesGrp/TotalAmt0110983
IRS990/PartialLiquidationInd01
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt08490
IRS990/PayrollTaxesGrp/TotalAmt08490
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0544
IRS990/PensionPlanContributionsGrp/TotalAmt0544
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt01764813
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0MICHAEL GODING
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0454670
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01764523
IRS990/PYInvestmentIncomeAmt087747
IRS990/PYOtherExpensesAmt02568513
IRS990/PYOtherRevenueAmt0-74842
IRS990/PYProgramServiceRevenueAmt05115489
IRS990/PYRevenuesLessExpensesAmt0-1796957
IRS990/PYSalariesCompEmpBnftPaidAmt03046985
IRS990/PYTotalExpensesAmt07380021
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt05583064
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt00
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0969858
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0946673
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt02334165
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0-2334165
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt0355441
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt02692680
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt02334165
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0156608
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0153534
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt02580744
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt02000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt02692680
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0109936
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt02537255
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt02580744
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt049131
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt092620
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt02497879
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt02095
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt02537255
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt055540
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt092821
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0703133
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1226397
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0BENEFICIAL INTEREST IN LAND
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1PRE-ACCRUED LIQUIDATION COSTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0352731
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1703133
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ANNUITIES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1BENEFICIAL INTEREST IN LAND
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0AS PART OF THE ORGANIZATION'S PLAN OF DISSOLUTION, FUNDS THAT WERE PREVIOUSLY CONSIDERED ENDOWED WERE NO LONGER DEEMED TO BE ENDOWED. COMMUNICATION OCCURRED WITH THE DONORS THAT PREVIOUSLY ENDOWED THOSE FUNDS TO OBTAIN THEIR CONSENT TO UTILIZE THE FUNDS TO SETTLE THE ORGANIZATION'S WIND DOWN OBLIGATIONS AND TRANSFER ANY REMAINING FUNDS TO OTHER COLLEGES (ALL 501(C)(3) ENTITIES) WITH MISSIONS SIMILAR TO THAT OF THE ORGANIZATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0929530
IRS990ScheduleD/TotalLiabilityAmt01055864
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd01
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0IT IS STATED IN THE CATALOGUE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE UNIVERSITY RECEIVED ASSISTANCE FROM VARIOUS U.S. DEPARTMENT OF EDUCATION PROGRAMS. THE UNIVERSITY HAS SINCE BEEN UNABLE TO CONTINUE OPERATIONS DUE TO FINANCIAL HARDSHIP.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0BUILDING AND LAND - 819 DORCAS STREET
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1FIXED ASSETS
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0VICTORY APARTMENTS II - OMAHA LLC
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt1VICTORY APARTMENTS II - OMAHA LLC
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02018-10-31
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt12018-10-31
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt01710000
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt126041
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0LIMITED LIABILITY COMPANY
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt1LIMITED LIABILITY COMPANY
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0ACTUAL SALE PRICE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt1ACTUAL SALE PRICE
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt01004 FARNAM STREET 400
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt11004 FARNAM STREET 400
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0OMAHA
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm1OMAHA
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0NE
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd1NE
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd068108
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd168108
IRS990ScheduleN/EmployeeOfSuccessor2Ind00
IRS990ScheduleN/OwnerOfSuccessor2Ind00
IRS990ScheduleN/ReceiveCompensation2Ind00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SUBSEQUENT TO THE FISCAL YEAR END OF JUNE 20,2018 THE BOARD MET AND APPROVED A PLAN OF DISSOLUTION ON OCTOBER 8, 2018. IT WAS DETERMINED THAT THE MISSION OF THE ORGANIZATION CAN NO LONGER BE ACCOMPLISHED DUE TO A LACK OF FINANCIAL RESOURCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION ADOPTED A PLAN OF DISSOLUTION EFFECTIVE APRIL 2, 2019. AS PART OF THE PLAN OF DISSOLUTION, CERTAIN OF THE PRIOR BOARD OF TRUSTEES WERE DESIGNATED AS REPRESENTATIVES TO WIND DOWN THE ACTIVITIES OF THE ORGANIZATION AND TO TAKE ALL NECESSARY AND REASONABLE ACTIONS TO EFFECT THE DISSOLUTION OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SUBSEQUENT TO THE FISCAL YEAR END OF JUNE 30, 2018 THE BOARD MET AND APPROVED A PLAN OF DISSOLUTION ON OCTOBER 8, 2018. IT WAS DETERMINED THAT THE MISSION OF THE ORGANIZATION COULD NO LONGER BE ACCOMPLISHED DUE TO A LACK OF FINANCIAL RESOURCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GRACE UNIVERSITY DOES NOT HAVE ANY FORMAL COMMITTEES WHEREAS THE COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GRACE UNIVERSITY'S FORM 990 IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER OF THE INSTITUTION. MANAGEMENT AND BOARD DO NOT CONSIDER IT NECESSARY TO BE REVIEWED BY THE BOARD PRIOR TO THE FILING. A FILED COPY IS PROVIDED TO THE BOARD PRESIDENT AND TREASURER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD ANNUALLY REVIEWS AND SIGNS A CONFLICT DISCLOSURE STATEMENT.

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,102,543
Liabilities
$1,269,864
Net assets
$3,832,679
Revenue
$180,031
Expenses
$180,031
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$1.72$0.00$1.72$0.01$1.54$1.53
2020Detailed filing. Detailed filing data is available for this year.$3.68$0.44$3.24$0.05$0.24$0.19
2019Detailed filing. Detailed filing data is available for this year.$5.10$1.27$3.83$0.18$0.18$0.00
2018Detailed filing. Detailed filing data is available for this year.$4.37$0.72$3.66$5.58$7.38$1.80
2017Detailed filing. Detailed filing data is available for this year.$6.69$1.24$5.44$7.42$9.04$1.61
2016Detailed filing. Detailed filing data is available for this year.$11.8$4.79$7.05$12.0$13.1$1.11
2015Detailed filing. Detailed filing data is available for this year.$13.9$5.65$8.28$11.4$13.5$2.09
2014Detailed filing. Detailed filing data is available for this year.$15.8$5.28$10.5$12.3$13.4$1.09
2013Summary only. Only limited summary data is available for this year.$16.6$4.64$11.9$9.04$10.2$1.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.7$3.75$13.0$9.69
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.4$3.96$12.4$9.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.5$4.10$12.4$9.05