Iowa College Foundation
- Assets
- $7.6m
- Revenue
- $1.9m
- Investments
- $6.2m
- Employees
- 5
- Location
- Des Moines, IA
- Founding
- 07/1953
- Data as of
- 06/2022
- EIN
- 42-0745995
Organization Overview
Iowa College Foundation is located in Des Moines, IA. The organization was established in 1953. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 06/2022, Iowa College Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa College Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Iowa College Foundation generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $2.0m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Iowa College Foundation has awarded 240 individual grants totaling $11,423,893. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE FORM 990, PART III, LINE 1
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTIONS OF CONTRIBUTIONS TO MEMBER COLLEGES AND UNIVERSITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Finn President | Officer | 1 | $188,521 |
Peter Voorhees Board Chair | OfficerTrustee | 1 | $0 |
Patricia Draves Vice Chair | OfficerTrustee | 1 | $0 |
William Duffy II Secretary | OfficerTrustee | 1 | $0 |
John Stavnes Treasurer | OfficerTrustee | 1 | $0 |
Susan Haack Past Board Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $950,802 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $950,802 |
| Total Program Service Revenue | $668,350 |
| Investment income | $155,281 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $153,330 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,927,763 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,302,434 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $188,521 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $158,926 |
| Pension plan accruals and contributions | $49,200 |
| Other employee benefits | $53,004 |
| Payroll taxes | $16,138 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,145 |
| Fees for services: Other | $20,574 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,971 |
| Travel | $20,599 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,795 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,952,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,351,218 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $21,511 |
| Net Land, buildings, and equipment | $3,150 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,225,457 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,601,336 |
| Accounts payable and accrued expenses | $21,513 |
| Grants payable | $27,750 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $49,263 |
| Net assets without donor restrictions | $1,894,229 |
| Net assets with donor restrictions | $5,657,844 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,601,336 |
Grants Awarded
Over the last fiscal year, Iowa College Foundation has awarded $1,293,934 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
Waverly, IA PURPOSE: PROVIDE SCHOLARSHIPS | $72,754 |
Des Moines, IA PURPOSE: PROVIDE SCHOLARSHIPS | $67,519 |
Decorah, IA PURPOSE: PROVIDE SCHOLARSHIPS | $66,389 |
Des Moines, IA PURPOSE: PROVIDE SCHOLARSHIPS | $63,625 |
Indianola, IA PURPOSE: PROVIDE SCHOLARSHIPS | $58,119 |
Grinnell, IA PURPOSE: PROVIDE SCHOLARSHIPS | $57,211 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Iowa College Foundation has recieved totaling $4,000.
| Awarding Organization | Amount |
|---|---|
Home State Bank Charitable Foundation Jefferson, IA PURPOSE: GENERAL OPERATIONS | $2,000 |
Iowa State Bank Charitable Foundation Sac City, IA PURPOSE: GENERAL OPERATIONS | $1,000 |
Richter Family Foundation Hayward, WI PURPOSE: SUPPORT HIGHER EDUCATION IN IA | $1,000 |
Endowment Analysis
| Beg. Balance | $7,543,278 |
| Earnings | -$1,004,271 |
| Grants | $313,550 |
| Ending Balance | $6,225,457 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northern School District Tr Nsdt Ashland, WI | $7,100,055 | $19,700,380 |
Plumbers & Steamfitters H & W Trust Iowa State Bank Ttee Des Moines, IA | $75,894,378 | $21,812,028 |
Cristo Rey Network Chicago, IL | $14,102,009 | $11,695,592 |
City Colleges Of Chicago Foundation Chicago, IL | $22,678,364 | $14,327,610 |
Big Ten Academic Alliance Champaign, IL | $13,766,841 | $9,203,675 |
P E O Foundation Des Moines, IA | $140,487,423 | $16,863,604 |
Kidsmart Saint Louis, MO | $4,061,844 | $8,307,759 |
Northwest Foundation Inc Maryville, MO | $55,922,802 | $14,720,589 |
Holy Family Ministries Chicago, IL | $16,241,007 | $8,503,495 |
Drexel Funds Milwaukee, WI | $18,531,220 | $8,522,964 |
North Central States Regional Council Of Carpenters Trng Fund Eau Claire, WI | $10,404,488 | $4,232,713 |
Sand County Foundation Inc Madison, WI | $15,482,706 | $6,154,396 |