Form 990 for tax year 2023

Filed by STATE UNIVERSITY OF IOWA FOUNDATION.

Totals

Total revenue: $167,554,150
Total expenses: $210,154,022
Contributions and grants received: $150,761,152
Grants paid: $163,602,708
Program service revenue: $13,260,976
Investment income: $3,874,906
Other revenue: -$342,884
Total assets, end of year: $2,160,832,505
Total liabilities, end of year: $133,455,775
Net assets or fund balances, end of year: $2,027,376,730
Program services expenses (Part IX): $168,647,024
Management and general expenses: $15,294,305
Fundraising expenses: $26,212,693
Program service expenses (Part III): $168,647,024

Program services were 80.2% 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.

1f · All other contributions, gifts and grants

$150,761,152
1g · Noncash contributions included above

$15,868,948
2a · Program service revenue: FUNDRAISING REVENUE

total $13,260,976 · related or exempt $13,260,976
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $8,254,518 · excluded $8,254,518
5 · Royalties

total $32,744 · excluded $32,744
6c · Rental income or loss

real property $0 · personal property $0
7a · Gross sales of assets other than inventory

securities $445,167,193 · other assets $571,513
7b · Less cost or other basis and sales expenses

securities $449,663,318 · other assets $455,000
7c · Gain or loss

securities -$4,496,125 · other assets $116,513
7d · Net gain or loss

total -$4,379,612 · excluded -$4,379,612
11a · Other revenue: MANAGEMENT & SERVICE FEE INCOME

total $306,358 · related or exempt $306,358
11b · Other revenue: IAM ADVERTISING

total $1,900 · unrelated business $1,900
11c · Other revenue: INVESTMENT PARTNERSHIP

total -$683,886 · unrelated business -$683,886
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

-$375,628

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $163,602,708 · program services $163,602,708
5 · Compensation of officers, directors and key employees

total $2,594,328 · program services $528,360 · management and general $959,993 · fundraising $1,105,975
6 · Compensation of disqualified persons

total $142,613 · fundraising $142,613
7 · Other salaries and wages

total $24,928,421 · program services $2,445,686 · management and general $7,009,263 · fundraising $15,473,472
8 · Pension plan contributions

total $2,766,054 · program services $301,151 · management and general $852,001 · fundraising $1,612,902
9 · Other employee benefits

total $3,346,825 · program services $328,311 · management and general $1,020,789 · fundraising $1,997,725
10 · Payroll taxes

total $1,768,350 · program services $174,903 · management and general $499,900 · fundraising $1,093,547
11b · Fees: legal

total $31,189 · management and general $31,189
11c · Fees: accounting

total $72,689 · management and general $72,689
11e · Fees: professional fundraising services

total $510,652 · fundraising $510,652
11g · Fees: other

total $2,071,874 · program services $0 · management and general $1,864,687 · fundraising $207,187
12 · Advertising and promotion

total $1,021,597 · program services $238,783 · fundraising $782,814
13 · Office expenses

total $790,903 · program services $7,258 · management and general $775,736 · fundraising $7,909
14 · Information technology

total $2,685,775 · program services $292,410 · management and general $827,274 · fundraising $1,566,091
16 · Occupancy

total $868,888 · program services $94,599 · management and general $267,635 · fundraising $506,654
17 · Travel

total $777,693 · program services $72,531 · fundraising $705,162
22 · Depreciation, depletion and amortization

total $706,108 · management and general $706,108
23 · Insurance

total $197,051 · management and general $197,051
24a · Other expenses: PRINTING/PUBLICATIONS

total $602,057 · program services $361,234 · management and general $30,103 · fundraising $210,720
24b · Other expenses: STAFF TRAINING & DEVELOPMENT

total $284,604 · program services $30,986 · management and general $87,664 · fundraising $165,954
24c · Other expenses: POSTAGE/MAIL HANDLING

total $271,354 · program services $162,812 · management and general $13,568 · fundraising $94,974
24d · Other expenses: RECRUITMENT

total $48,605 · program services $5,292 · management and general $14,971 · fundraising $28,342
24e · All other expenses

total $63,684 · program services $0 · management and general $63,684 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $11,279,273 · end of year $7,607,303
2 · Savings and temporary cash investments

beginning of year $99,587,363 · end of year $129,753,360
3 · Pledges and grants receivable

beginning of year $257,259,558 · end of year $253,105,603
4 · Accounts receivable

beginning of year $24,572 · end of year $1,459,073
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

$36,113,029
10b · Land, buildings and equipment: accumulated depreciation

$16,365,394
10c · Land, buildings and equipment, net

beginning of year $20,141,600 · end of year $19,747,635
11 · Investments: publicly traded securities

beginning of year $917,365,495 · end of year $966,004,560
12 · Investments: other securities

beginning of year $708,437,493 · end of year $783,154,971
13 · Investments: program-related

beginning of year $0
15 · Other assets

beginning of year $0 · end of year $0
17 · Accounts payable and accrued expenses

beginning of year $3,476,642 · end of year $4,013,805
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $122,159,484 · end of year $129,441,970
27 · Net assets without donor restrictions

beginning of year $38,363,982 · end of year $48,616,273
28 · Net assets with donor restrictions

beginning of year $1,850,095,246 · end of year $1,978,760,457

Mission and programs · 2023

Mission

THE UNIVERSITY OF IOWA CENTER FOR ADVANCEMENT'S MISSION IS TO ADVANCE THE UNIVERSITY OF IOWA THROUGH ENGAGEMENT AND PHILANTHROPY. WE SERVE OUR ALUMNI AND FRIENDS IN THE STATE AND THE REGION, THROUGHOUT THE COUNTRY, AND AROUND THE WORLD. WE ARE COMMITTED TO ENGAGING EVERYONE WHO LOVES THE UNIVERSITY OF IOWA - ALUMNI, FANS, PATIENTS, ART LOVERS, STUDENTS, PARENTS AND FRIENDS - THROUGH PROGRAMMING, EVENTS AND OPPORTUNITIES TO GIVE BACK TO THE UNIVERSITY OF IOWA. THE UNIVERSITY OF IOWA CENTER FOR ADVANCEMENT, AN OPERATIONAL NAME FOR THE STATE UNIVERSITY OF IOWA FOUNDATION, IS AN INDEPENDENT ORGANIZATION AND THE PREFERRED CHANNEL FOR PRIVATE CONTRIBUTIONS THAT BENEFIT ALL AREAS OF THE UNIVERSITY OF IOWA.

Activities or mission (Part I)

TO ADVANCE THE UNIVERSITY OF IOWA THROUGH ENGAGEMENT AND PHILANTHROPY.

GRANTS PROVIDING RESOURCES TO THE UNIVERSITY OF IOWA FOR PROGRAMS.

Expenses $53,389,489 · Grants $52,319,831 · Revenue $4,338,806
GRANTS PROVIDING RESOURCES THE UNIVERSITY OF IOWA FOR FACULTY SUPPORT.

Expenses $31,970,625 · Grants $31,330,093 · Revenue $2,598,159
GRANTS PROVIDING RESOURCES TO THE UNIVERSITY OF IOWA FOR STUDENT SUPPORT.

Expenses $31,462,965 · Grants $30,832,604 · Revenue $2,556,903
GRANTS PROVIDING RESOURCES TO THE UNIVERSITY OF IOWA FOR RESEARCH.

Expenses $31,544,656 · Grants $30,912,659 · Revenue $2,563,543
GRANTS PROVIDING RESOURCES TO THE UNIVERSITY OF IOWA FOR FACILITIES.

Expenses $18,579,767 · Grants $18,207,521 · Revenue $1,509,923
STRENGTHEN THE UNIVERSITY OF IOWA THROUGH ENGAGEMENT EFFORTS WITH ALUMNI AND DONORS.

Expenses $1,699,522

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Andrew W CodeANDREW W CODE

CHAIR/DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Janice R ElligJANICE R ELLIG

VICE CHAIR/DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Barbara A McKenzieBARBARA A MCKENZIE

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Barbara WilsonBARBARA WILSON

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Bruce E RingdahlBRUCE E RINGDAHL

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Carl W StuartCARL W STUART

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Carol Havemann-LynchCAROL HAVEMANN-LYNCH

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Casey D MahonCASEY D MAHON

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Cassandra S Foens MDCASSANDRA S FOENS MD

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Catherine ZaharisCATHERINE ZAHARIS

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Christopher D DewolfCHRISTOPHER D DEWOLF

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Dyan C SmithDYAN C SMITH

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Frederick J CrawfordFREDERICK J CRAWFORD

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Gregs G ThomopulosGREGS G THOMOPULOS

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
James W CarneyJAMES W CARNEY

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Jeffrey A ChapmanJEFFREY A CHAPMAN

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
John Ruan IVJOHN RUAN IV

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Kevin R GruneichKEVIN R GRUNEICH

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Lois A EichackerLOIS A EICHACKER

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Mark A KaufmanMARK A KAUFMAN

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Mary Joy SteadMARY JOY STEAD

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Miekeleen HartMIEKELEEN HART

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Nathan R TrossNATHAN R TROSS

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
P Sue Beckwith MDP SUE BECKWITH MD

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Perry A GlassgowPERRY A GLASSGOW

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Soumyo SarkarSOUMYO SARKAR

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Stephen H BelynSTEPHEN H BELYN

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Suzanne S YoonSUZANNE S YOON

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Thomas J VealeTHOMAS J VEALE

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Thomas R HansonTHOMAS R HANSON

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Victor M AlvarezVICTOR M ALVAREZ

DIRECTOR

Total calculated

$0

Hours/week

1
Diane K BrownleeDIANE K BROWNLEE

SECRETARY

Total calculated

$259,951

From this org

$236,557

From related orgs

$0

Other

$23,394

Hours/week

40 + 1 related

Schedule J breakdown matched by us

Base

$183,309

Bonus

$30,000

Other

$23,248

Deferred

$21,515

Nontaxable benefits

$1,879

Filer's total

$259,951
Lynette L MarshallLYNETTE L MARSHALL

PRESIDENT

Total calculated

$627,175

From this org

$569,510

From related orgs

$0

Other

$57,665

Hours/week

40 + 1 related

Schedule J breakdown matched by us

Base

$450,008

Bonus

$93,712

Other

$25,790

Deferred

$33,000

Nontaxable benefits

$24,665

Filer's total

$627,175
Sheila BaldwinSHEILA BALDWIN

VP/ASSISTANT SECRETARY

Total calculated

$406,283

From this org

$337,392

From related orgs

$0

Other

$68,891

Hours/week

40 + 1 related

Schedule J breakdown matched by us

Base

$268,394

Bonus

$68,250

Other

$748

Deferred

$29,488

Nontaxable benefits

$39,403

Filer's total

$406,283
Sherri P FurmanSHERRI P FURMAN

CFO/TREASURER

Total calculated

$343,345

From this org

$302,753

From related orgs

$0

Other

$40,592

Hours/week

40 + 1 related

Schedule J breakdown matched by us

Base

$253,350

Bonus

$43,073

Other

$6,330

Deferred

$26,550

Nontaxable benefits

$14,042

Filer's total

$343,345
Colin HennessyCOLIN HENNESSY

VP ALUMNI AND DONOR ENGAGEMENT

Total calculated

$328,318

From this org

$262,240

From related orgs

$0

Other

$66,078

Hours/week

40

Schedule J breakdown matched by us

Base

$232,042

Bonus

$29,700

Other

$498

Deferred

$25,491

Nontaxable benefits

$40,587

Filer's total

$328,318
Robert K ClarkROBERT K CLARK

VP MAIN CAMPUS DEVELOPMENT

Total calculated

$340,320

From this org

$295,112

From related orgs

$0

Other

$45,208

Hours/week

40

Schedule J breakdown matched by us

Base

$244,039

Bonus

$30,930

Other

$20,143

Deferred

$27,219

Nontaxable benefits

$17,989

Filer's total

$340,320
Derek PendergastDEREK PENDERGAST

VP, PRINCIPAL GIFTS

Total calculated

$282,031

From this org

$224,878

From related orgs

$0

Other

$57,153

Hours/week

40

Schedule J breakdown matched by us

Base

$197,164

Bonus

$26,578

Other

$1,136

Deferred

$21,075

Nontaxable benefits

$36,078

Filer's total

$282,031
Jim BetheaJIM BETHEA

CHIEF INVESTMENT OFFICER

Total calculated

$387,320

From this org

$325,546

From related orgs

$0

Other

$61,774

Hours/week

40

Schedule J breakdown matched by us

Base

$311,113

Bonus

$13,287

Other

$1,146

Deferred

$32,435

Nontaxable benefits

$29,339

Filer's total

$387,320
Kevin CollinsKEVIN COLLINS

DEVELOPMENT OFFICER

Total calculated

$271,765

From this org

$214,443

From related orgs

$0

Other

$57,322

Hours/week

40

Schedule J breakdown matched by us

Base

$193,920

Bonus

$18,411

Other

$2,112

Deferred

$20,455

Nontaxable benefits

$36,867

Filer's total

$271,765
Linda A HartfordLINDA A HARTFORD

VP, CHIEF IT OFFICER

Total calculated

$275,954

From this org

$224,008

From related orgs

$0

Other

$51,946

Hours/week

40

Schedule J breakdown matched by us

Base

$194,761

Bonus

$27,104

Other

$2,143

Deferred

$21,543

Nontaxable benefits

$30,403

Filer's total

$275,954
Tom K DeprengerTOM K DEPRENGER

VP PRINCIPAL GIFTS

Total calculated

$304,752

From this org

$247,700

From related orgs

$0

Other

$57,052

Hours/week

40

Schedule J breakdown matched by us

Base

$212,933

Bonus

$28,437

Other

$6,330

Deferred

$22,233

Nontaxable benefits

$34,819

Filer's total

$304,752

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

3 · Compensation committee
3 · Independent compensation consultant
3 · Form 990 of other organizations
3 · Written employment contract
3 · Compensation survey or study
3 · Approval by the board or compensation committee

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

$163,602,708

See Part IV

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.

UNIVERSITY OF IOWA FACILITIES CORPORATIO

501(c)(3) · HOLD PROPERTY · IA · controlled entity

Directly controlled by UICA
STANLEY-UNIVERSITY OF IOWA FOUNDATION SU

501(c)(3) · SUPPORT ORG · IA · controlled entity

Directly controlled by UICA
JACK R VOLLERTSEN ANNUITY TRUST

501(c)(3) · SUPPORT ORG · IA

Directly controlled by NA

Provenance

Return type: form_990
Tax year: 2023
Filed: 14 November 2024
IRS schema version: 2023v5.1
Source object: 202443199349315844

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