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← UNIVERSITY OF IOWA STRATEGIC INITIATIVES FUND

Form 990 for tax year 2024

Filed by UNIVERSITY OF IOWA STRATEGIC INITIATIVES FUND.

Totals

Total revenue
$66,071,839
Total expenses
$25,959,537
Contributions and grants received
$0
Grants paid
$25,627,000
Program service revenue
$0
Investment income
$66,071,839
Other revenue
$0
Total assets, end of year
$1,227,119,293
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,227,119,293
Program services expenses (Part IX)
$25,627,000
Management and general expenses
$332,537
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 98.7% 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.

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $38,935,037 · excluded $38,935,037

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $27,136,802

  • 7c · Gain or loss

    securities $27,136,802 · other assets $0

  • 7d · Net gain or loss

    total $27,136,802 · excluded $27,136,802

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $25,627,000 · program services $25,627,000

  • 11f · Fees: investment management

    total $332,537 · management and general $332,537

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $649,812,154 · end of year $688,119,641

  • 12 · Investments: other securities

    beginning of year $504,186,642 · end of year $538,999,652

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,153,998,796 · end of year $1,227,119,293

Mission and programs · 2024

Mission

SUPPORT THE STATE UNIVERSITY OF IOWA'S STRATEGIC PLAN IMPLEMENTATION BY PROVIDING GRANTS FOR SCIENTIFIC RESEARCH AND EDUCATIONAL ACTIVITIES AND SUBSIDIZING UTILITY EXPENSES.

  • Grants for Scientific Research and Educational Activities (Growing Iowa into a Leader in Airborne and Ground-based Earth Science Measurement Capability, $1,270,700; The Iowa Health Data Resource: Extending the Impact, $902,890; Enhancing Education Infrastructure, $2,000,000; Relocate Department of Dance, $3,000,000; Implementation of Academic Advising Recommendations, $285,000; Startup Company Patent Support Pilot, $185,000; NIH T32 Training Grant application in Cancer Drug Discovery ad Development, $193,950; AI in Undergraduate Education, $195,000; Launching the Next Phase of Iowa Space Missions, $653,485; Identifying Key Drivers of Cancer in Iowa, $985,417; HIHI: Strategically Retaining and Recruiting Talented Faculty, $4,000,000; A Proposal for Iowa's AI Journey: First Steps in General AI Support, $784,517; Iowa's AI Journey: First Steps in AI Support for Research Scholarly and Creative Activities, $615,000; Return of Unused Funds from Previous Grants, ($70,959))

    Grants $15,000,000

  • Subsidization of Utility Expenses

    Grants $10,627,000

As filed on the 2024 return.

Listed in Part VII

  • JC Risewick

    Vice President and Director

    Total calculated
    $0

  • Rodney Lehnertz

    President & Director

    Total calculated
    $426,283
    From this org
    $0
    From related orgs
    $366,297
    Other
    $59,986
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $351,164 related
    Bonus
    $0
    Other
    $0 + $15,133 related
    Deferred
    $0 + $36,005 related
    Nontaxable benefits
    $0 + $23,981 related
    Filer's total
    $0 + $426,283 related

  • Erik Lie

    Director

    Total calculated
    $586,758
    From this org
    $0
    From related orgs
    $533,188
    Other
    $53,570
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $489,879 related
    Bonus
    $0
    Other
    $0 + $43,309 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $19,070 related
    Filer's total
    $0 + $586,758 related

  • Audra Haddy

    Secretary

    Total calculated
    $239,867
    From this org
    $0
    From related orgs
    $218,114
    Other
    $21,753
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $209,189 related
    Bonus
    $0
    Other
    $0 + $8,925 related
    Deferred
    $0 + $21,053 related
    Nontaxable benefits
    $0 + $700 related
    Filer's total
    $0 + $239,867 related

  • Susan Klatt

    Secretary (through 9/10/24)

    Total calculated
    $308,617
    From this org
    $0
    From related orgs
    $279,720
    Other
    $28,897
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $206,179 related
    Bonus
    $0
    Other
    $0 + $73,541 related
    Deferred
    $0 + $20,618 related
    Nontaxable benefits
    $0 + $8,279 related
    Filer's total
    $0 + $308,617 related

  • Terry Johnson

    Treasurer

    Total calculated
    $426,475
    From this org
    $0
    From related orgs
    $365,369
    Other
    $61,106
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $363,149 related
    Bonus
    $0
    Other
    $0 + $2,220 related
    Deferred
    $0 + $37,084 related
    Nontaxable benefits
    $0 + $24,022 related
    Filer's total
    $0 + $426,475 related

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

None.

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

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

  • State University of Iowa

    $25,627,000

    Strategic Funding Initiatives

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Encompass Health Rehab

    Rehab Hospital · DE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • University of IA Health System

    C Corporation · Medical Services · IA

    Directly controlled by NA

  • Iowa Medical Mutual Ins Co

    C Corporation · Malpractice insurance · IA

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
17 March 2026
IRS schema version
2024v5.1
Source object
202620769349300112

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