Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $213,104

• 1d · Related organizations

  $45,340

• 1f · All other contributions, gifts and grants

  $30,307,088

• 1g · Noncash contributions included above

  $4,911,208

• 3 · Investment income

  total $4,236,793 · unrelated business $6,334 · excluded $4,230,459

• 5 · Royalties

  total $36,438 · excluded $36,438

• 7a · Gross sales of assets other than inventory

  securities $102,119,521 · other assets $3,190,235

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

  securities $101,433,796 · other assets $3,187,404

• 7c · Gain or loss

  securities $685,725 · other assets $2,831

• 7d · Net gain or loss

  total $688,556 · excluded $688,556

• 8a · Fundraising events: gross income

  $118,723

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

  $213,104

• 8b · Fundraising events: direct expenses

  $118,723

• 8c · Net income from fundraising events

  total $0

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $50,000 · related or exempt $50,000

• 11b · Other revenue: REGISTRATION FEE INCOME

  total $28,929 · excluded $28,929

• 11e · Other revenue, total

  $78,929

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $7,513,292 · program services $7,513,292

• 2 · Grants to domestic individuals

  total $7,132,532 · program services $7,132,532

• 5 · Compensation of officers, directors and key employees

  total $1,331,664 · management and general $765,518 · fundraising $566,146

• 7 · Other salaries and wages

  total $5,450,266 · program services $2,450,175 · management and general $978,576 · fundraising $2,021,515

• 11c · Fees: accounting

  total $80,570 · management and general $80,570

• 11e · Fees: professional fundraising services

  total $317,794 · fundraising $317,794

• 11f · Fees: investment management

  total $1,146,504 · management and general $1,146,504

• 11g · Fees: other

  total $2,062,645 · program services $1,793,632 · management and general $40,668 · fundraising $228,345

• 12 · Advertising and promotion

  total $6,530 · fundraising $6,530

• 13 · Office expenses

  total $609,415 · program services $336,276 · management and general $35,863 · fundraising $237,276

• 14 · Information technology

  total $291,768 · program services $42,979 · management and general $49,502 · fundraising $199,287

• 16 · Occupancy

  total $110,271 · program services $47,513 · management and general $4,525 · fundraising $58,233

• 17 · Travel

  total $1,191,376 · program services $1,045,451 · management and general $1,533 · fundraising $144,392

• 19 · Conferences, conventions and meetings

  total $111,384 · program services $91,097 · management and general $575 · fundraising $19,712

• 22 · Depreciation, depletion and amortization

  total $3,172 · program services $3,172

• 23 · Insurance

  total $107,451 · program services $78,980 · management and general $19,677 · fundraising $8,794

• 24a · Other expenses: BUILDING & EQUIP MAINT

  total $712,369 · program services $685,442 · management and general $14,645 · fundraising $12,282

• 24b · Other expenses: MEALS & ENTERTAINMENT

  total $645,888 · program services $356,426 · management and general $26,150 · fundraising $263,312

• 24c · Other expenses: BAD DEBT EXPENSE

  total $537,784 · program services $537,784

• 24d · Other expenses: UBI TAX

  total $407 · management and general $407

• 24e · All other expenses

  total $1,613,202 · program services $1,371,279 · management and general $58,043 · fundraising $183,880

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $13,272,331 · end of year $10,446,586

• 2 · Savings and temporary cash investments

  beginning of year $17,390,650 · end of year $16,079,675

• 3 · Pledges and grants receivable

  beginning of year $38,112,885 · end of year $36,290,765

• 8 · Inventories for sale or use

  beginning of year $50,782 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $116,372 · end of year $109,178

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

  $412,905

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

  $371,673

• 10c · Land, buildings and equipment, net

  beginning of year $44,404 · end of year $41,232

• 11 · Investments: publicly traded securities

  beginning of year $139,680,602 · end of year $167,945,480

• 12 · Investments: other securities

  beginning of year $55,918,093 · end of year $54,867,355

• 15 · Other assets

  beginning of year $1,768,617 · end of year $4,772,022

• 17 · Accounts payable and accrued expenses

  beginning of year $1,605,990 · end of year $2,402,431

• 19 · Deferred revenue

  beginning of year $1,295 · end of year $2,265

• 25 · Other liabilities

  beginning of year $2,569,397 · end of year $2,729,601

• 27 · Net assets without donor restrictions

  beginning of year $12,777,139 · end of year $13,976,291

• 28 · Net assets with donor restrictions

  beginning of year $249,400,915 · end of year $271,441,705

The filer's explanations (Part III)

PART I, LINE 1A

TRAVEL FOR COMPANIONS THE PRESIDENT OF THE UNRELATED UNIVERSITY IS A NON-PAID BOARD MEMBER OF THE FILING ORGANIZATION. WHEN THE PRESIDENT'S SPOUSE TRAVELS WITH THE PRESIDENT AND PERFORMS DONOR DEVELOPMENT FUNCTIONS FOR THE FILING ORGANIZATION, THE SPOUSE'S TRAVEL EXPENSES ARE REVIEWED BY AND ULTIMATELY PAID BY THE FILING ORGANIZATION. HEALTH OR SOCIAL CLUB DUES THE FILING ORGANIZATION PAID FOR CLUB MEMBERSHIPS FOR JIM JERMIER AND STEVE GEARHART DURING THE FISCAL YEAR. THESE WERE DEEMED TO BE TAXABLE AND INCLUDED IN THE REPORTABLE COMPENSATION.

PART I, LINE 3

TOP MANAGEMENT'S COMPENSATION THE PRESIDENT OF THE UNIVERSITY OF NORTHERN IOWA FOUNDATION (UNI FOUNDATION) ALSO HAS A UNIVERSITY APPOINTMENT AS THE VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT. SALARY FOR THIS POSITION IS PAID THROUGH UNIVERSITY GENERAL FUNDS. THE AMOUNT OF SALARY INCREASE FOR THE UNI FOUNDATION PRESIDENT AND OTHER OFFICERS IS DETERMINED BY THE PRESIDENT OF THE UNIVERSITY IN CONSULTATION, AS NEEDED, WITH THE UNI FOUNDATION BOARD OF TRUSTEES. INCREASES ARE DETERMINED BY A VARIETY OF FACTORS, PRIMARILY THE ACHIEVEMENT OF MUTUALLY-AGREED UPON ANNUAL GOALS BY THE UNIVERSITY PRESIDENT AND THE VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT/UNI FOUNDATION PRESIDENT. HUMAN RESOURCE SERVICES AT THE UNVERSITY PROVIDES REGULAR UPDATES REGARDING SALARIES (BY POSITION AND TITLE) AT PEER INSTITUTIONS.

FORM 990, PART VII, SECTION A, LINE 1 AND/OR SCHEDULE J, PART II:

COMPENSATION FROM AN UNRELATED ORGANIZATION THE UNIVERSITY OF NORTHERN IOWA (UNI), AN UNRELATED ORGANIZATION, PAID ALL COMPENSATION FOR THE INDIVIDUALS LISTED BELOW IN (A) AND (B) FOR THEIR SERVICES RENDERED TO THE FILING ORGANIZATION. (A) THE FILING ORGANIZATION DID NOT REIMBURSE UNI FOR COMPENSATION PAID TO JIM JERMIER, HILLERY OBERLE, AND MEGAN STULL FOR CALENDAR YEAR 2023 AND FISCAL YEAR 2024. (B) THE FILING ORGANIZATION REIMBURSED UNI FOR COMPENSATION PAID TO NOREEN HERMANSEN, STEVE GEARHART, NATHAN CLAPHAM, AND STACY ROBINSON FOR CALENDAR YEAR 2023 AND FISCAL YEAR 2024.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• UNIVERSITY OF NORTHERN IOWA ALUMNI ASSOCIATION

  ENGAGE ALUMNI & STUDENTS · IA · income $555,581 · assets $1,208,767

  Directly controlled by UNI FOUNDATION

Related corporations and trusts

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

• CHARITABLE REMAINDER ANNUITY TRUSTS (5)

  TRUST · IA · controlled entity

  Directly controlled by UNI FOUNDATION

• CHARITABLE REMAINDER UNITRUSTS (5)

  TRUST · IA · controlled entity

  Directly controlled by UNI FOUNDATION