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Nonprofiteer
← THE TRUSTEES OF GRINNELL COLLEGE

Form 990 for tax year 2023

Filed by THE TRUSTEES OF GRINNELL COLLEGE.

Totals

Total revenue
$397,436,581
Total expenses
$247,771,574
Contributions and grants received
$12,104,838
Grants paid
$74,231,930
Program services expenses (Part IX)
$218,318,480
Management and general expenses
$22,582,749
Fundraising expenses
$6,870,345
Program service expenses (Part III)
$218,318,480

Program services were 88.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • JAINEN THAYER

    CHIEF INVESTMENT OFFICER

    Total calculated
    $1,106,039
    From this org
    $1,033,208
    From related orgs
    $0
    Other
    $72,831
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $586,253
    Bonus
    $445,939
    Other
    $1,016
    Deferred
    $33,000
    Nontaxable benefits
    $39,831
    Filer's total
    $1,106,039

  • ANNE HARRIS

    PRESIDENT

    Total calculated
    $788,044
    From this org
    $627,118
    From related orgs
    $0
    Other
    $160,926
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $607,313
    Bonus
    $1,500
    Other
    $18,305
    Deferred
    $33,000
    Nontaxable benefits
    $127,926
    Filer's total
    $788,044

  • VALBONA SCHWAB

    DEPUTY CHIEF INVESTMENT OFFICER

    Total calculated
    $680,824
    From this org
    $619,746
    From related orgs
    $0
    Other
    $61,078
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $414,426
    Bonus
    $204,690
    Other
    $630
    Deferred
    $33,000
    Nontaxable benefits
    $28,078
    Filer's total
    $680,824

  • GERMAINE Y GROSS

    VP FINANCE & TREASURER

    Total calculated
    $463,988
    From this org
    $409,550
    From related orgs
    $0
    Other
    $54,438
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $363,447
    Bonus
    $44,564
    Other
    $1,539
    Deferred
    $33,000
    Nontaxable benefits
    $21,438
    Filer's total
    $463,988

  • LACEY F JOHNSON

    MANAGING DIRECTOR

    Total calculated
    $446,716
    From this org
    $401,394
    From related orgs
    $0
    Other
    $45,322
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $311,016
    Bonus
    $90,000
    Other
    $378
    Deferred
    $33,000
    Nontaxable benefits
    $12,322
    Filer's total
    $446,716

  • BERONDA L MONTGOMERY

    DEAN & VP ACADEMIC AFFAIRS

    Total calculated
    $358,517
    From this org
    $307,129
    From related orgs
    $0
    Other
    $51,388
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $300,683
    Bonus
    $5,000
    Other
    $1,446
    Deferred
    $30,925
    Nontaxable benefits
    $20,463
    Filer's total
    $358,517

  • JOSEPH P BAGNOLI

    VP ENROLLMENT & DEAN OF ADMISSION

    Total calculated
    $331,937
    From this org
    $275,996
    From related orgs
    $0
    Other
    $55,941
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $262,233
    Bonus
    $11,500
    Other
    $2,263
    Deferred
    $27,919
    Nontaxable benefits
    $28,022
    Filer's total
    $331,937

  • ROBERT WELCH

    DIRECTOR OF INVESTMENTS

    Total calculated
    $282,800
    From this org
    $254,890
    From related orgs
    $0
    Other
    $27,910
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $213,875
    Bonus
    $40,704
    Other
    $311
    Deferred
    $25,460
    Nontaxable benefits
    $2,450
    Filer's total
    $282,800

  • ELLEN F DE GRAFFENREID

    VP COMMUNICATION & MARKETING

    Total calculated
    $278,359
    From this org
    $229,703
    From related orgs
    $0
    Other
    $48,656
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $226,375
    Bonus
    $2,500
    Other
    $828
    Deferred
    $23,573
    Nontaxable benefits
    $25,083
    Filer's total
    $278,359

  • HENRY W MOYER

    PROFESSOR OF POLITICAL SCIENCE

    Total calculated
    $272,005
    From this org
    $236,632
    From related orgs
    $0
    Other
    $35,373
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $233,542
    Bonus
    $0
    Other
    $3,090
    Deferred
    $23,573
    Nontaxable benefits
    $11,800
    Filer's total
    $272,005

  • NANCY L COMBS

    ASSOCIATE VP FINANCE & ASST TREASURER

    Total calculated
    $262,179
    From this org
    $217,431
    From related orgs
    $0
    Other
    $44,748
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $196,651
    Bonus
    $19,000
    Other
    $1,780
    Deferred
    $22,047
    Nontaxable benefits
    $22,701
    Filer's total
    $262,179

  • MYRNA Y HERNANDEZ

    CHIEF OF STAFF & VP ADMINISTRATION

    Total calculated
    $245,218
    From this org
    $212,283
    From related orgs
    $0
    Other
    $32,935
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $208,569
    Bonus
    $2,500
    Other
    $1,214
    Deferred
    $21,310
    Nontaxable benefits
    $11,625
    Filer's total
    $245,218

  • JANA L GRIMES

    VP HUMAN RESOURCES

    Total calculated
    $244,771
    From this org
    $212,067
    From related orgs
    $0
    Other
    $32,704
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $205,715
    Bonus
    $5,000
    Other
    $1,352
    Deferred
    $21,261
    Nontaxable benefits
    $11,443
    Filer's total
    $244,771

  • ELAINE M MARZLUFF

    PROFESSOR OF CHEMISTRY

    Total calculated
    $207,219
    From this org
    $177,651
    From related orgs
    $0
    Other
    $29,568
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $169,940
    Bonus
    $6,530
    Other
    $1,181
    Deferred
    $17,899
    Nontaxable benefits
    $11,669
    Filer's total
    $207,219

  • MARGARET E BAIR

    DIRECTOR OF BOARD RELATIONS

    Total calculated
    $147,305
    From this org
    $109,637
    From related orgs
    $0
    Other
    $37,668
    Hours/week
    50

  • MICHAEL B KAHN

    TRUSTEE & BOARD CHAIR

    Total calculated
    $0
    Hours/week
    7

  • CHRISTINA R CUTLIP

    TRUSTEE & VICE-CHAIR

    Total calculated
    $0
    Hours/week
    4

  • MATTHEW E WELCH

    TRUSTEE & VICE-CHAIR

    Total calculated
    $0
    Hours/week
    4

  • ODILE DISCH-BHADKAMKAR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • JEETANDER DULANI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SHELLEY FLOYD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • JULIE GOSSELINK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JON GRAY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • GRACIELA GUZMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • BERNARD JACKSON JR

    TRUSTEE & ALUMNI COUNCIL PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • KEITH A JANTZEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • BRUCE KOFF

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • KIMBERLY A KUNCL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • TOBI KLEIN MARCUS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • DAVID E MAXWELL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • KATHRYN MOHRMAN

    TRUSTEE (UNTIL 5/24)

    Total calculated
    $0
    Hours/week
    2

  • GEORGE MOOSE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JEANNE MYERSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • YUKI NARULA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ANGELA ONWUACHI-WILLIG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • STEVE PICKLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • NANCY L RADERMECHER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • GABE RODRIGUEZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • LAURA SANDER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • STEPHEN SANDQUIST

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • W ED SENN

    TRUSTEE (UNTIL 3/24)

    Total calculated
    $0
    Hours/week
    2

  • HAM SERUNJOGI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • KRISTIN STOUT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • SHERYL WALTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ERIC E WHITAKER

    TRUSTEE (UNTIL 5/24)

    Total calculated
    $0
    Hours/week
    2

  • CONNIE WIMER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Housing allowance or residence for personal use
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception
  • 9 · Followed the rebuttable-presumption procedure

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings

The filer's explanations (Part III)

PART I, LINE 1A
THE PRESIDENT IS REQUIRED TO LIVE IN COLLEGE OWNED HOUSING. THE COLLEGE EMPLOYS SOMEONE TO MAINTAIN THE CLEANLINESS OF THE RESIDENCE. THE HOUSING BENEFIT IS NOT TAXABLE PURSUANT TO IRC SECTION 119 AS IT IS A CONDITION OF THE PRESIDENT'S EMPLOYMENT AT THE COLLEGE. THE VALUE OF THE CLEANING SERVICES IS TAXABLE INCOME. A DONOR FUNDED A STUDY TO DETERMINE THE FEASIBILITY AND BENEFITS OF OFFERING CHARTER JET SERVICE TO AND FROM GRINNELL REGIONAL AIRPORT INTO KEY AND STRATEGIC MARKETS. THE PREMISE OF THIS PROJECT WAS TO EXPLORE THE POTENTIAL BENEFITS TO THE COLLEGE BY SUPPORTING DIRECT JET SERVICE TO MAJOR METROPOLITAN AREAS IN THE UNITED STATES ON SELECT AND PEAK TRAVEL DAYS. THE PRESIDENT AND OTHER EMPLOYEES NOT LISTED WERE PROVIDED CHARTER TRAVEL. THIS WAS SOLELY FOR COLLEGE BUSINESS PURPOSES SO IT IS NOT TREATED AS TAXABLE INCOME.
PART I, LINE 7
THE PRESIDENT OF THE COLLEGE HAS THE AUTHORITY TO AWARD NON-FIXED PAYMENTS TO INDIVIDUALS BASED ON THEIR ACHIEVEMENTS DURING THE FISCAL YEAR OR WRITTEN CONTRACTS WITH THE COLLEGE. TYPICALLY, THESE AMOUNTS ARE DISCRETIONARY AND THE COLLEGE ENSURES THE AMOUNTS ARE REASONABLE WHEN ADDRESSING THE OVERALL COMPENSATION STRUCTURE FOR THE INDIVIDUAL. ANY BONUS PAID TO THE PRESIDENT IS AWARDED AND APPROVED BY THE BOARD OF TRUSTEES. CERTAIN INDIVIDUALS RECEIVED RETENTION BONUSES.
PART I, LINE 8
THE PRESIDENT IS IN HER INITIAL EMPLOYMENT CONTRACT WITH THE COLLEGE EFFECTIVE JULY 1, 2020 THROUGH JUNE 30, 2025.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202511289349300406

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.