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Nonprofiteer
← ISU FACILITIES CORPORATION

Form 990 for tax year 2022

Filed by ISU FACILITIES CORPORATION.

Totals

Total revenue
$2,353,248
Total expenses
$2,297,969
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,280,446
Investment income
$72,802
Other revenue
$0
Total assets, end of year
$34,891,739
Total liabilities, end of year
$32,790,077
Net assets or fund balances, end of year
$2,101,662
Program services expenses (Part IX)
$2,297,969
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,297,969

Program services were 100.0% 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.

  • 2a · Program service revenue: FACILITY INCOME

    total $2,280,446 · related or exempt $2,280,446

  • 4 · Income from investment of tax-exempt bond proceeds

    total $72,802 · related or exempt $72,802

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $980,451 · program services $980,451

  • 22 · Depreciation, depletion and amortization

    total $1,317,518 · program services $1,317,518

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,055,615 · end of year $3,952,908

  • 2 · Savings and temporary cash investments

    end of year $2,245,237

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

    $36,109,152

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

    $7,415,558

  • 10c · Land, buildings and equipment, net

    beginning of year $30,011,112 · end of year $28,693,594

  • 20 · Tax-exempt bond liabilities

    beginning of year $34,020,344 · end of year $32,790,077

  • 27 · Net assets without donor restrictions

    beginning of year $2,046,383 · end of year $2,101,662

Mission and programs · 2022

Mission

ASSIST IN THE CONSTRUCTION AND ACQUISITION OF REAL PROPERTY FACILITIES USEFUL TO IOWA STATE UNIVERSITY, AND THEREAFTER LEASE SUCH FACILITIES TO THE BOARD OF REGENTS FOR THE USE OF IOWA STATE UNIVERSITY.

  • THE ORGANIZATION PREVIOUSLY ISSUED BONDS AND USED THE PROCEEDS THEREOF TO ACQUIRE AN INTEREST IN A BIOSCIENCE FACILITY ON THE IOWA STATE UNIVERSITY CAMPUS. THE ORGANIZATION CONTINUES TO LEASE THE FACILITY TO THE BOARD OF REGENTS FOR THE USE OF IOWA STATE UNIVERSITY.

    Expenses $2,297,969 · Revenue $2,353,248

As filed on the 2022 return.

Listed in Part VII

  • Gary Streit

    DIRECTOR, VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Larry Pithan

    DIRECTOR, SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Pamela E Cain

    DIRECTOR, TREASURER (END 9/30/22)

    Total calculated
    $0
    Hours/week
    1

  • Ron Hallenbeck

    DIRECTOR, PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Shawn Norman

    DIRECTOR, TREASURER (START 9/30/22)

    Total calculated
    $0
    Hours/week
    1

  • Wendy Wintersteen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Michael Wahlin

    ASSISTANT TREASURER

    Total calculated
    $185,139
    From this org
    $0
    From related orgs
    $152,338
    Other
    $32,801
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $150,338 related
    Bonus
    $0
    Other
    $0 + $2,000 related
    Deferred
    $0 + $15,316 related
    Nontaxable benefits
    $0 + $17,485 related
    Filer's total
    $0 + $185,139 related

  • Lisa Eslinger

    ASSISTANT SECRETARY (END 7/1/22)

    Total calculated
    $148,792
    From this org
    $0
    From related orgs
    $126,881
    Other
    $21,911
    Hours/week
    1 + 40 related

  • Emily Hager

    VP & CHIEF FINANCIAL OFFICER

    Total calculated
    $212,129
    From this org
    $0
    From related orgs
    $173,697
    Other
    $38,432
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $172,977 related
    Bonus
    $0
    Other
    $0 + $720 related
    Deferred
    $0 + $18,001 related
    Nontaxable benefits
    $0 + $20,431 related
    Filer's total
    $0 + $212,129 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

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
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202431359349305353

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