Skip to content
Nonprofiteer
← GRACELAND UNIVERSITY

Form 990 for tax year 2024

Filed by GRACELAND UNIVERSITY.

Totals

Total revenue
$37,898,936
Total expenses
$50,561,758
Contributions and grants received
$6,771,734
Grants paid
$8,575,429
Program service revenue
$29,079,750
Investment income
$2,046,008
Other revenue
$1,444
Total assets, end of year
$112,705,823
Total liabilities, end of year
$35,522,630
Net assets or fund balances, end of year
$77,183,193
Program services expenses (Part IX)
$43,588,887
Management and general expenses
$5,074,563
Fundraising expenses
$1,898,308
Program service expenses (Part III)
$43,588,887

Program services were 86.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $9,514

  • 1d · Related organizations

    $500,000

  • 1e · Government grants (contributions)

    $1,762,280

  • 1f · All other contributions, gifts and grants

    $4,499,940

  • 1g · Noncash contributions included above

    $402,688

  • 2a · Program service revenue: TUITION AND FEES

    total $22,030,429 · related or exempt $22,030,429

  • 2b · Program service revenue: AUXILIARY ENTERPRISES

    total $6,561,486 · related or exempt $6,561,486

  • 2f · All other program service revenue

    total $487,835 · related or exempt $487,835

  • 3 · Investment income

    total $191,428 · excluded $191,428

  • 5 · Royalties

    total $1,151 · unrelated business $1,151

  • 7a · Gross sales of assets other than inventory

    securities $6,493,096

  • 7b · Less cost or other basis and sales expenses

    securities $4,638,516

  • 7c · Gain or loss

    securities $1,854,580

  • 7d · Net gain or loss

    total $1,854,580 · excluded $1,854,580

  • 8a · Fundraising events: gross income

    $8,500

  • 8a · Fundraising events: contributions included on line 1c

    $9,514

  • 8b · Fundraising events: direct expenses

    $8,207

  • 8c · Net income from fundraising events

    total $293 · excluded $293

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $8,575,429 · program services $8,575,429

  • 5 · Compensation of officers, directors and key employees

    total $963,930 · management and general $675,544 · fundraising $288,386

  • 7 · Other salaries and wages

    total $14,975,412 · program services $13,018,130 · management and general $1,281,101 · fundraising $676,181

  • 8 · Pension plan contributions

    total $277,552 · program services $253,854 · management and general $17,015 · fundraising $6,683

  • 9 · Other employee benefits

    total $1,713,339 · program services $1,462,779 · management and general $167,810 · fundraising $82,750

  • 10 · Payroll taxes

    total $1,004,020 · program services $825,086 · management and general $119,914 · fundraising $59,020

  • 11a · Fees: management

    total $314,947 · program services $43,914 · management and general $242,658 · fundraising $28,375

  • 11b · Fees: legal

    total $212,953 · program services $27,053 · management and general $185,900

  • 11f · Fees: investment management

    total $47,893 · management and general $47,893

  • 11g · Fees: other

    total $9,995,241 · program services $8,786,491 · management and general $903,670 · fundraising $305,080

  • 12 · Advertising and promotion

    total $1,268,209 · program services $838,778 · management and general $355,110 · fundraising $74,321

  • 13 · Office expenses

    total $2,613,145 · program services $2,184,480 · management and general $280,152 · fundraising $148,513

  • 16 · Occupancy

    total $1,230,789 · program services $1,156,072 · management and general $54,176 · fundraising $20,541

  • 17 · Travel

    total $1,114,548 · program services $939,957 · management and general $79,388 · fundraising $95,203

  • 20 · Interest

    total $856,363 · program services $788,473 · management and general $49,938 · fundraising $17,952

  • 22 · Depreciation, depletion and amortization

    total $3,097,759 · program services $2,905,079 · management and general $139,709 · fundraising $52,971

  • 23 · Insurance

    total $1,331,956 · program services $1,144,388 · management and general $171,226 · fundraising $16,342

  • 24a · Other expenses: MEMBERSHIPS

    total $298,715 · program services $204,239 · management and general $90,515 · fundraising $3,961

  • 24b · Other expenses: ACCRETION AND MISCELLAN

    total $284,868 · program services $79,441 · management and general $187,540 · fundraising $17,887

  • 24c · Other expenses: COLLECTION EXPENSE

    total $170,725 · program services $163,353 · management and general $7,372

  • 24d · Other expenses: PROFESSIONAL DEVELOPMEN

    total $148,127 · program services $128,667 · management and general $15,832 · fundraising $3,628

  • 24e · All other expenses

    total $65,838 · program services $63,224 · management and general $2,100 · fundraising $514

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,000 · end of year $2,300

  • 2 · Savings and temporary cash investments

    beginning of year $217,796 · end of year $53,863

  • 3 · Pledges and grants receivable

    beginning of year $4,693,588 · end of year $4,436,660

  • 4 · Accounts receivable

    beginning of year $942,955 · end of year $1,232,323

  • 8 · Inventories for sale or use

    beginning of year $277,985 · end of year $248,201

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,229,034 · end of year $1,169,917

  • 10a · Land, buildings and equipment: cost or other basis

    $140,304,444

  • 10b · Land, buildings and equipment: accumulated depreciation

    $83,037,423

  • 10c · Land, buildings and equipment, net

    beginning of year $57,350,626 · end of year $57,267,021

  • 11 · Investments: publicly traded securities

    beginning of year $6,749,947 · end of year $7,165,937

  • 12 · Investments: other securities

    beginning of year $42,959,383 · end of year $36,680,263

  • 13 · Investments: program-related

    beginning of year $165,301 · end of year $211,375

  • 14 · Intangible assets

    beginning of year $585,150 · end of year $2,150,538

  • 15 · Other assets

    beginning of year $2,329,907 · end of year $2,087,425

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,730,034 · end of year $4,881,156

  • 19 · Deferred revenue

    beginning of year $2,598,267 · end of year $2,663,778

  • 20 · Tax-exempt bond liabilities

    beginning of year $15,055,226 · end of year $14,406,215

  • 21 · Escrow or custodial account liability

    beginning of year $521,478 · end of year $534,510

  • 23 · Secured mortgages and notes payable

    beginning of year $4,377,346 · end of year $4,288,488

  • 24 · Unsecured notes and loans payable

    beginning of year $201,912 · end of year $212,216

  • 25 · Other liabilities

    beginning of year $792,765 · end of year $8,536,267

  • 27 · Net assets without donor restrictions

    beginning of year $44,075,029 · end of year $31,698,169

  • 28 · Net assets with donor restrictions

    beginning of year $47,155,615 · end of year $45,485,024

Mission and programs · 2024

Mission

SEE SCHEDULE OTHE 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.

Activities or mission (Part I)

SEE SCHEDULE OTHE 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.

  • EDUCATIONAL PROGRAMS, GENERAL/OTHER: GRACELAND PRODUCES A LIBERAL ARTS EDUCATION OFFERED TO STUDENTS IN TRADITIONAL ON-CAMPUS PROGRAMS AND VIA DISTANCE LEARNING FORMATS. 27 UNDERGRADUATE MAJORS, 6 MASTERS DEGREES WITH 11 AREAS OF CONCENTRATION, 7 GRADUATE CERTIFICATE PROGRAMS AND 2 DOCTORATE PROGRAMS ARE OFFERED. GRACELAND UNIVERSITY IS ACCREDITED BY THE HIGHER LEARNING COMMISSION. ACADEMIC SUPPORT INCLUDES ACCREDITATION AND ASSESSMENT ACTIVITIES, LIBRARIES, AND INSTRUCTIONAL TECHNOLOGY SUPPORT. (1,127 FTE)

    Expenses $13,345,236 · Revenue $22,030,429

  • STUDENT SERVICES PROGRAMS, GENERAL/OTHER/AUXILLIARY: STUDENT SERVICES ENCOMPASSES CULTURAL AND SOCIAL ACTIVITIES FOR STUDENTS, INCLUDING STUDENT GOVERNMENT AND INTERCOLLEGIATE ATHLETICS. ALSO INCLUDED ARE OFFICES PROVIDING STUDENT SERVICE SUPPORT SUCH AS ADMISSIONS, REGISTRAR, AND OTHERS. AUXILLIARY SERVICES INCLUDE THE UNIVERSITY BOOKSTORE, FOOD SERVICES, RESIDENCE HALLS, AND SNACK SHOP AND VENDING ACTIVITIES.

    Expenses $20,935,792 · Revenue $7,049,321

  • STUDENT FINANCIAL AID PROGRAMS: SCHOLARSHIPS, GRANTS AND OTHER STUDENT FINANCIAL ASSISTANCE WERE RECEIVED BY 99% OF OUR RESIDENTIAL STUDENTS AND BY 93% AND 78% OF OUR ONLINE UNDERGRADUATE AND GRADUATE STUDENTS, RESPECTIVELY. FUNDING IS PROVIDED THROUGH INSTITUTIONAL SOURCES, GOVERNMENT GRANT PROGRAM ADMINISTERED BY THE UNIVERSITY, OR GOVERNMENT-SPONSORED LOAN PROGRAMS.

    Expenses $8,575,429 · Grants $8,575,429

  • TRIO GRANT PROGRAMS WHICH ARE ALL FUNDED BY GOVERNMENT GRANTS.

    Expenses $732,430

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jennifer Matney

    VP - BUSINESS AND FINANCE

    Total calculated
    $126,135
    From this org
    $121,086
    From related orgs
    $0
    Other
    $5,049
    Hours/week
    50 + 3.5 related

  • Mike Wiley

    TRUSTEE/CHAIR

    Total calculated
    $0
    Hours/week
    12 + 2 related

  • Joseph Booz

    TRUSTEE/VICE CHAIR - UNTIL 8/24

    Total calculated
    $0
    Hours/week
    5

  • Louann Muir-Hutchinson

    TRUSTEE/VICE CHAIR - AS OF 8/24

    Total calculated
    $0
    Hours/week
    18 + 2 related

  • Ryan Watson

    TRUSTEE/SECRETARY - UNTIL 8/24

    Total calculated
    $0
    Hours/week
    2

  • Mike Seagraves

    TRUSTEE/SECRETARY - AS OF 8/24

    Total calculated
    $0
    Hours/week
    5

  • Jay Cook

    TRUSTEE/TREASURER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Sam Smalldon

    TRUSTEE/TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Holly Caskey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • John Godfrey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5

  • Steven Graffeo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Ron Harmon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 50 related

  • Gwendolyn Hawks-Blue

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Emily Hughes

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Vincent E Lewis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Jim Lysinger

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • Aleksandar Memca

    TRUSTEE

    Total calculated
    $0
    Hours/week
    5 + 2 related

  • Randall E Pratt

    TRUSTEE

    Total calculated
    $0
    Hours/week
    6

  • Julia Snethen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    3

  • John Whitehurst

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Stephanie Winters McConnell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Toyia K Younger

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joel Shrock

    VP - AA/ PRESIDENT AS OF 7/24

    Total calculated
    $267,121
    From this org
    $226,653
    From related orgs
    $0
    Other
    $40,468
    Hours/week
    50 + 12 related

    Schedule J breakdown matched by us

    Base
    $196,153
    Bonus
    $0
    Other
    $30,500
    Deferred
    $10,110
    Nontaxable benefits
    $30,358
    Filer's total
    $267,121

  • Pat Draves

    PRESIDENT - UNTIL 7/24

    Total calculated
    $200,046
    From this org
    $185,033
    From related orgs
    $0
    Other
    $15,013
    Hours/week
    70

    Schedule J breakdown matched by us

    Base
    $169,783
    Bonus
    $0
    Other
    $15,250
    Deferred
    $8,333
    Nontaxable benefits
    $6,680
    Filer's total
    $200,046

  • Kristi Hettrick

    VP - INSTITUTIONAL ADVANCEMENT

    Total calculated
    $187,744
    From this org
    $165,560
    From related orgs
    $0
    Other
    $22,184
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,265
    Bonus
    $0
    Other
    $10,295
    Deferred
    $7,721
    Nontaxable benefits
    $14,463
    Filer's total
    $187,744

  • Deb Skinner

    VP - ENROLLMENT

    Total calculated
    $118,028
    From this org
    $108,953
    From related orgs
    $0
    Other
    $9,075
    Hours/week
    60

  • Dave Schaal

    VP - STUDENT LIFE

    Total calculated
    $97,074
    From this org
    $91,675
    From related orgs
    $0
    Other
    $5,399
    Hours/week
    60

  • Leigh Murray

    DIRECTOR DPT PROGRAM

    Total calculated
    $148,687
    From this org
    $124,562
    From related orgs
    $0
    Other
    $24,125
    Hours/week
    50

  • Talia Brown

    CIO

    Total calculated
    $138,570
    From this org
    $107,671
    From related orgs
    $0
    Other
    $30,899
    Hours/week
    60

  • Rebecca Reisch

    PROFESSOR OF DPT

    Total calculated
    $116,382
    From this org
    $102,995
    From related orgs
    $0
    Other
    $13,387
    Hours/week
    50

  • Jenna Wilcox

    PROFESSOR OF NURSING

    Total calculated
    $105,490
    From this org
    $100,799
    From related orgs
    $0
    Other
    $4,691
    Hours/week
    50

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, and on a Form 990-PF Part VIII's — 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 · Travel for companions
  • 1a · Discretionary spending account
  • 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 survey or study
  • 3 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A:
THE PRESIDENT'S SPOUSE ACCOMPANIES THEM TO CERTAIN EVENTS WHEN DEEMED NECESSARY FOR THE GOOD OF THE UNIVERSITY. THERE WAS NO SPOUSAL TRAVEL INCLUDED IN THE PRESIDENT'S COMPENSATION DURING THE YEAR. THE PRESIDENT HAS AUTHORITY OVER THEIR OFFICE BUDGET, BUT NO FUNDS ARE AVAILABLE TO THEM FOR PERSONAL USE. THE PRESIDENT IS PROVIDED A RESIDENCE WHICH IS USED FOR UNIVERSITY FUNCTIONS. THE FAIR MARKET VALUE RENTAL OF $21,000 PER YEAR AND HOUSEKEEPING SERVICES IS INCLUDED IN THE RENTAL VALUE. THE VALUE OF UTILITIES/MAINTENANCE/OTHER PROVIDED OF $10,009 IS INCLUDED AS NONTAXABLE BENEFITS ON SCHEDULE J, PART II, COLUMN (D).

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

No itemized grants to organizations on this return.

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
2024
Filed
31 March 2026
IRS schema version
2024v5.5
Source object
202601059349302520

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.