Annual Report 2022-23

Decoration Graphic

Since 1895, the generosity of our alumni and friends has helped Graceland University become a leader in higher education. Building on our heritage and values, focusing on the needs of students, and preparing graduates for professional success and meaningful lives, every donation ensures we send out Gracelanders who create the positive changes we need in our world.

The power of together means it takes each one of us to fulfill the mission of Graceland to create learning communities where students develop their potential for meaningful and productive lives. Thank you for your unwavering support of Graceland and our students. We gratefully acknowledge those who have partnered with us to provide a strong liberal art learning environment—at our main residential campus in Lamoni, our Independence campus and through our online programs. Your commitment to philanthropy today means our students can do more with their tomorrow.

Thank you!

Kristi Hettrick

Kristi Hettrick
Vice President for Institutional Advancement

Financial Results – 2022-23

Operating Budget


Operating Revenue

Operating Revenue for 2022-23 (rounded in thousands) – Graceland University received $14,266 or 61.6% from Net Tuition and Fees; $2,235 or 9.7% from Grants, Gifts and Endowment; $6,172 or 26.7% from Sales and Services of Auxiliary Enterprises; and  $465 or 2.1% from Other Sources for a total of $23,138.


Operating Expenses

Operating Expenses Graph

Operating Expenses for 2022-23 (rounded in thousands) – Graceland University paid $6,809 or 20.6% for Instruction, $1,403 or 4.3% for Academic Support, $6,902 or 20.9% for Student Services, $7,734 or 23.4% for Institutional Support, $5,199 or 15.8% for Operation and Maintenance for Plant, $1,338 or 4.1% for Debt Services, and $3,603 or 10.9% for Auxiliary Enterprises for a total of $32,988.


Net Operating Deficit

Other Activity

Activity Amount
Increase in reserves and restricted funds $3,524,000
Increase in Endowments and Annuities $112,000
Operating Loss for SkillPath ($980,000)
SkillPath PPP Loan forgiveness $2,027,000
Investment gain in the pension retirment plan $1,303,000
Change in Net investment in plant $1,024,000

Change in Net Assets


Endowment Growth and Distribution