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Nonprofiteer
← ISU FACILITIES CORPORATION

Form 990 for tax year 2024

Filed by ISU FACILITIES CORPORATION.

Totals

Total revenue
$3,844,156
Total expenses
$3,289,236
Contributions and grants received
$0
Grants paid
$211
Program service revenue
$3,241,217
Investment income
$602,939
Other revenue
$0
Total assets, end of year
$42,898,705
Total liabilities, end of year
$42,323,553
Net assets or fund balances, end of year
$575,152
Program services expenses (Part IX)
$3,289,236
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$3,289,236

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 $3,241,217 · related or exempt $3,241,217

  • 3 · Investment income

    total $602,939 · excluded $602,939

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $211 · program services $211

  • 11g · Fees: other

    total $5,250 · program services $5,250

  • 20 · Interest

    total $1,719,335 · program services $1,719,335

  • 22 · Depreciation, depletion and amortization

    total $1,564,440 · program services $1,564,440

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,144,077 · end of year $9,427,882

  • 2 · Savings and temporary cash investments

    beginning of year $2,189,464 · end of year $3,214

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

    $43,895,515

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

    $10,427,906

  • 10c · Land, buildings and equipment, net

    beginning of year $28,493,789 · end of year $33,467,609

  • 20 · Tax-exempt bond liabilities

    beginning of year $31,559,809 · end of year $42,323,553

  • 25 · Other liabilities

    beginning of year $12,247,289 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $20,232 · end of year $575,152

Mission and programs · 2024

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 ISSUES BONDS AND PROCEEDS ARE USED TO CONSTRUCT AND RENOVATE FACILITIES ON THE IOWA STATE UNIVERSITY CAMPUS.

    Expenses $3,289,236 · Grants $211 · Revenue $3,241,217

As filed on the 2024 return.

Listed in Part VII

  • Terry Tobin

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Linda Schakel

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Heather Paris

    TREASURER - THRU 9/24

    Total calculated
    $0
    Hours/week
    1

  • Sean Reeder

    TREASURER - AS OF 9/24

    Total calculated
    $0
    Hours/week
    1

  • Dana Wenstrand

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Wendy Wintersteen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Emily Hager

    ASSISTANT SECRETARY

    Total calculated
    $283,661
    From this org
    $0
    From related orgs
    $231,993
    Other
    $51,668
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $231,053 related
    Bonus
    $0
    Other
    $0 + $940 related
    Deferred
    $0 + $24,133 related
    Nontaxable benefits
    $0 + $27,535 related
    Filer's total
    $0 + $283,661 related

  • Michael Wahlin

    ASSISTANT TREASURER

    Total calculated
    $211,651
    From this org
    $0
    From related orgs
    $173,401
    Other
    $38,250
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $171,311 related
    Bonus
    $0
    Other
    $0 + $2,090 related
    Deferred
    $0 + $17,440 related
    Nontaxable benefits
    $0 + $20,810 related
    Filer's total
    $0 + $211,651 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
2024
Filed
13 May 2026
IRS schema version
2024v5.5
Source object
202601359349302665

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