THE TRUSTEES OF GRINNELL COLLEGE Charity Report

Public IRS 990 nonprofit record

THE TRUSTEES OF GRINNELL COLLEGE

EIN 42-0680387 · Education (B420)

What they do

to EDUCATE STUDENTS IN THE LIBERAL ARTS THROUGH FREE INQUIRY and THE OPEN EXCHANGE of IDEAS.WHEN GRINNELL COLLEGE FRAMED ITS CHARTER IN THE IOWA TERRITORY of THE UNITED STATES IN 1846, IT SET FORTH A MISSION to EDUCATE ITS STUDENTS "FOR THE DIFFERENT PROFESSIONS and for THE HONORABLE DISCHARGE of THE DUTIES of LIFE." THE COLLEGE PURSUES THAT MISSION BY PROVIDING AN EDUCATION IN THE LIBERAL ARTS THROUGH FREE INQUIRY and THE OPEN EXCHANGE of IDEAS. AS A TEACHING and LEARNING COMMUNITY, THE COLLEGE HOLDS THAT KNOWLEDGE is A GOOD to BE PURSUED BOTH for ITS OWN SAKE and for THE INTELLECTUAL, MORAL, and PHYSICAL WELL-BEING of INDIVIDUALS and of SOCIETY AT LARGE. THE COLLEGE EXISTS to PROVIDE A LIVELY ACADEMIC COMMUNITY of STUDENTS and TEACHERS of HIGH SCHOLARLY QUALIFICATIONS FROM DIVERSE SOCIAL and CULTURAL CIRCUMSTANCES. THE COLLEGE AIMS to GRADUATE INDIVIDUALS WHO CAN THINK CLEARLY, WHO CAN SPEAK and WRITE PERSUASIVELY and EVEN ELOQUENTLY, WHO CAN EVALUATE CRITICALLY BOTH THEIR OWN and OT

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $90.20 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders47 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

64.67%of revenue went to mission work90.2% of expenses · Program services

2.25%of revenue went to fundraising3.1% of expenses

$71.70spent for every $100 of revenueRevenue covered expenses this year.

4.78%of revenue went to management and office costs6.7% of expenses

$13.10in assets for every $1 spent this yearSome assets cannot be spent right away.

6.0%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $1,073,100 for JAINEN THAYER (CHIEF INVESTMENT OFFICER). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$361,944,495

Mission workProgram services$234,054,28464.67% of revenue90.2% of expenses

ManagementOffice and general costs$17,311,4674.78% of revenue6.7% of expenses

FundraisingAsking for donations$8,144,6862.25% of revenue3.1% of expenses

Revenue left after expensesReported annual surplus$102,434,05828.30% of revenueShown in gray on the chart

Total expenses$259,510,43771.70% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 90.2% mission · 6.7% management · 3.1% fundraisingTotal expenses: 71.70% of revenue

2023Expense mix: 88.1% mission · 9.1% management · 2.8% fundraisingTotal expenses: 62.34% of revenue

2022Expense mix: 87.2% mission · 9.9% management · 2.8% fundraisingTotal expenses: 64.98% of revenue

2021Expense mix: 91.2% mission · 5.6% management · 3.2% fundraisingTotal expenses: 60.45% of revenue

2020Expense mix: 86.4% mission · 10.7% management · 2.9% fundraisingTotal expenses: 69.34% of revenue

2019Expense mix: 89.8% mission · 6.5% management · 3.7% fundraisingTotal expenses: 92.14% of revenue

2018Expense mix: 91.7% mission · 4.8% management · 3.5% fundraisingTotal expenses: 71.74% of revenue

2017Expense mix: 91.8% mission · 4.8% management · 3.4% fundraisingTotal expenses: 70.69% of revenue

Money in and money out

Revenue$361,944,495

Expenses$259,510,437

Annual surplus $102,434,058 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$234,054,284 · 90.2% of expenses

Management and office costs$17,311,467 · 6.7% of expenses

Fundraising$8,144,686 · 3.1% of expenses

See all reported dollar amounts

Revenue$361,944,495

Expenses$259,510,437

Assets$3,398,994,168

Income$1,512,125,764

Contributions$21,792,123

Mission work (program services)$234,054,284

Fundraising$8,144,686

Grants given$2,040,366

Average grant$24,004

Management and general$17,311,467

Stocks and bonds$325,742,818

Accounting fees$276,817

Investing fees$1,198,476

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

JAINEN THAYERCHIEF INVESTMENT OFFICER · 60 hrs/week $1,073,100Base $1,002,930 · Other $70,170

VALBONA SCHWABDEPUTY CHIEF INVESTMENT OFFICER · 50 hrs/week $851,835Base $730,359 · Other $121,476

ANNE HARRISPRESIDENT · 60 hrs/week $827,800Base $683,241 · Other $144,559

LACEY JOHNSONMANAGING DIRECTOR, INVESTMENTS · 50 hrs/week $682,947Base $617,657 · Other $65,290

KERRI GANDINMANAGING DIRECTOR, INVEST. OPERATIONS · 50 hrs/week $586,673Base $520,581 · Other $66,092

GERMAINE GROSSVP FINANCE & TREASURER · 60 hrs/week $532,684Base $477,363 · Other $55,321

BERNADINE DOUGLASVP DEVELOPMENT · 50 hrs/week $396,330Base $338,701 · Other $57,629

BERONDA MONTGOMERYDEAN & VP ACADEMIC AFFAIRS · 60 hrs/week $369,347Base $317,525 · Other $51,822

JOSEPH BAGNOLIVP ENROLLMENT & DEAN OF ADMISSION · 60 hrs/week $344,746Base $288,048 · Other $56,698

ROBERT WELCHDIRECTOR OF INVESTMENTS · 50 hrs/week $336,283Base $303,788 · Other $32,495

MYRNA HERNANDEZCHIEF OF STAFF & VP ADMINISTRATION · 60 hrs/week $270,764Base $234,966 · Other $35,798

JANA GRIMESVP HUMAN RESOURCES · 60 hrs/week $261,523Base $227,774 · Other $33,749

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (47)

JAINEN THAYERCHIEF INVESTMENT OFFICER

VALBONA SCHWABDEPUTY CHIEF INVESTMENT OFFICER

ANNE HARRISPRESIDENT

LACEY JOHNSONMANAGING DIRECTOR, INVESTMENTS

KERRI GANDINMANAGING DIRECTOR, INVEST. OPERATIONS

GERMAINE GROSSVP FINANCE & TREASURER

BERNADINE DOUGLASVP DEVELOPMENT

BERONDA MONTGOMERYDEAN & VP ACADEMIC AFFAIRS

JOSEPH BAGNOLIVP ENROLLMENT & DEAN OF ADMISSION

ROBERT WELCHDIRECTOR OF INVESTMENTS

MYRNA HERNANDEZCHIEF OF STAFF & VP ADMINISTRATION

JANA GRIMESVP HUMAN RESOURCES

COMBS NANCY LASSOCIATE VP FINANCE/FORMER OFFICER

MARZLUFF ELAINE MPROF OF CHEMISTRY & FORMER KE

MARGARET BAIRDIRECTOR OF BOARD RELATIONS

NANCY L RADERMECHERTRUSTEE

ANGELA ONWUACHI-WILLIGTRUSTEE

MATTHEW E WELCHTRUSTEE & VICE-CHAIR (TERM EXPIRED MAY 2025)

MELINDA LOPESTRUSTEE

MICHAEL B KAHNTRUSTEE & BOARD CHAIR

TOBI KLEIN MARCUSTRUSTEE

SHELLEY FLOYDTRUSTEE

STEVE PICKLETRUSTEE

ODILE DISCH-BHADKAMKARTRUSTEE (TERM EXPIRED MAY 2025)

R CHRISTINA CUTLIPTRUSTEE & VICE-CHAIR

STEPHEN SANDQUISTTRUSTEE

SAUMIL PARIKHTRUSTEE

YUKI NARULATRUSTEE

SHERYL WALTERTRUSTEE

JEETANDER DULANITRUSTEE

BRUCE KOFFTRUSTEE

CONNIE WIMERTRUSTEE (TERM EXPIRED MAY 2025)

DAVID E MAXWELLTRUSTEE

GABE RODRIGUEZTRUSTEE

GEORGE MOOSETRUSTEE

GRACIELA GUZMANTRUSTEE

HAM SERUNJOGITRUSTEE

JEANNE MYERSONTRUSTEE

LAURA SANDERTRUSTEE

JEFF GREENBERGTRUSTEE

JON GRAYTRUSTEE

JULIE GOSSELINKTRUSTEE

KARMI MATTSONTRUSTEE

KATE GODDARDTRUSTEE & ALUMNI COUNCIL PRESIDENT

KEITH A JANTZENTRUSTEE

KIMBERLY A KUNCLTRUSTEE

KRISTIN STOUTTRUSTEE

About this charity

Recognized since: January 1953
Location: 733 BROAD ST, GRINNELL, IA 50112-2227
County: Poweshiek
In care of: GERMAINE GROSS
Primary officer: GERMAINE GROSS, VP FOR FINANCE & TREASURER

How to reach them

WebsiteVisit the charity’s website Phone(641) 269-9700

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: CLIFTONLARSONALLEN LLP
NTEE classification: Education (B420)
Grant-giving organization: Yes