2024-03-04T12:32:53-06:00 2023-06-30 420794029 DENMAN CPA LLP 1601 22ND STREET SUITE 400 WEST DES MOINES IA 502661453 990 2022-07-01 420745995 IOWA COLLEGE FOUNDATION IOWA 5152820473 505 FIFTH AVENUE 1034 DES MOINES IA 50309 ED FINN PRESIDENT 5152820473 2024-03-04 1 ED FINN XXX-XX-XXXX 0 STEVE SCHWEIZER P01238619 5152258400 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ED FINN 505 FIFTH AVENUE 1034 DES MOINES IA 50309 5012087 0 X WWW.IOWACOLLEGEFOUNDATION.ORG X 1952 IA SEE FORM 990, PART III, LINE 1 50 50 5 0 0 0 950802 961157 668350 595139 308611 362356 0 0 1927763 1918652 1302434 1272346 0 0 465789 488640 0 0 245688 184598 162680 1952821 1923666 -25058 -5014 7601336 7852626 49263 104418 7552073 7748208 THE FOUNDATION IS ORGANIZED TO FURTHER THE GROWTH AND DEVELOPMENT OF PRIVATE COLLEGES AND UNIVERSITIES OF HIGHER EDUCATION IN IOWA. 0 0 1272346 1272346 595139 DISTRIBUTIONS OF CONTRIBUTIONS TO MEMBER COLLEGES AND UNIVERSITIES. 1272346 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 5 1 0 0 0 0 0 0 0 0 0 0 X 50 50 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X ED FINN 5152820473 505 5TH AVENUE DES MOINES IA 50309 PETER VOORHEES BOARD CHAIR 1.00 X X 0 0 0 PATRICIA DRAVES VICE CHAIR 1.00 X X 0 0 0 WILLIAM DUFFY II SECRETARY 1.00 X X 0 0 0 JOHN STAVNES TREASURER 1.00 X X 0 0 0 SUSAN HAACK PAST BOARD CHAIR 1.00 X X 0 0 0 JAMES COLLINS MEMBER 1.00 X 0 0 0 MARK PUTNAM MEMBER 1.00 X 0 0 0 JONATHAN BRAND MEMBER 1.00 X 0 0 0 KENT HENNING MEMBER 1.00 X 0 0 0 JOHN REYNDERS MEMBER 1.00 X 0 0 0 JEFFREY BULLOCK MEMBER 1.00 X 0 0 0 THOM CHESNEY MEMBER 1.00 X 0 0 0 DARREL COLSON MEMBER 1.00 X 0 0 0 JOHN OTTOSSON MEMBER 1.00 X 0 0 0 JAMES AIPPERSPACH MEMBER 1.00 X 0 0 0 STEVEN BRADFORD MEMBER 1.00 X 0 0 0 EARL MARTIN MEMBER 1.00 X 0 0 0 TONY GOLOBIC MEMBER 1.00 X 0 0 0 KENT HALL MEMBER 1.00 X 0 0 0 NICK HENDERSON MEMBER 1.00 X 0 0 0 GAGE KENT MEMBER 1.00 X 0 0 0 ROB MCDONALD MEMBER 1.00 X 0 0 0 JOHN SMITH MEMBER 1.00 X 0 0 0 RANDY RAMLO MEMBER 1.00 X 0 0 0 CHRISTINE TERHARK MEMBER 1.00 X 0 0 0 KIRK TYLER MEMBER 1.00 X 0 0 0 STEVE DORENKAMP MEMBER 1.00 X 0 0 0 MARTY FREDERICKS MEMBER 1.00 X 0 0 0 MIKE GASSMAN MEMBER 1.00 X 0 0 0 CHARLIE HARTIG MEMBER 1.00 X 0 0 0 SEAN KENNEDY MEMBER 1.00 X 0 0 0 LISA MCQUERREY MEMBER 1.00 X 0 0 0 JIM RUSSELL MEMBER 1.00 X 0 0 0 BEN STEELE MEMBER 1.00 X 0 0 0 CHARESE YANNEY MEMBER 1.00 X 0 0 0 JUDY RALSTON-HANSEN MEMBER 1.00 X 0 0 0 JENIFER WARD MEMBER 1.00 X 0 0 0 RACHELLE KARSTENS MEMBER 1.00 X 0 0 0 ANNE HARRIS MEMBER 1.00 X 0 0 0 BRIAN LENZMEIER MEMBER 1.00 X 0 0 0 MARSHA KELLIHER MEMBER 1.00 X 0 0 0 CHRISTINE PLUNKETT MEMBER 1.00 X 0 0 0 DREW VOGEL MEMBER 1.00 X 0 0 0 BRIAN WOGEN MEMBER 1.00 X 0 0 0 DAVID HAYES MEMBER 1.00 X 0 0 0 ERIK HOEKSTRA MEMBER 1.00 X 0 0 0 TODD OLSON MEMBER 1.00 X 0 0 0 AMY NOVAK MEMBER 1.00 X 0 0 0 GREGORY CHRISTY MEMBER 1.00 X 0 0 0 MICHAEL HELAK MEMBER 1.00 X 0 0 0 ED FINN PRESIDENT 1.00 X 193421 0 30394 193421 0 30394 1 0 1 0 0 961157 961157 ASSESSMENTS 900099 595139 595139 595139 175855 175855 3279936 3093435 186501 186501 186501 1918652 595139 0 362356 1272346 1272346 193421 193421 158864 158864 50704 50704 61393 61393 24258 7761 16497 48352 48352 18315 18315 10645 10645 26497 26497 1629 1629 SUPPLIES AND OTHER EXPE 34307 34307 MEMBERSHIPS 13662 13662 VEHICLE 9273 9273 1923666 1272346 405632 245688 1351218 1375415 21511 20068 38655 37134 3150 1521 6225457 6431489 0 24133 7601336 7852626 21513 20648 27750 58490 0 25280 49263 104418 X 1894229 1929527 5657844 5818681 7552073 7748208 7601336 7852626 -5014 201149 0 X X 0 1 X 1 0 X 2140612 2112841 1634386 1619152 1556296 9063287 2140612 2112841 1634386 1619152 1556296 9063287 974855 8088432 157262 149502 139880 155281 175855 777780 9841067 0.82190 0.79440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6225457 506007 299975 6431489 7543278 -1004271 313550 6225457 6189700 1651578 298000 7543278 6252711 161389 224400 6189700 6308901 227810 284000 6252711 0.13604 0.55839 0.30557 0 0 38655 37134 1521 1521 MUTUAL FUNDS 5418452 F MONEY MARKET FUNDS 130075 F EQUITIES 882962 F 6431489 OPERATING LEASE LIABILITIES, CURRENT PORTION 12078 OPERATING LEASE LIABILITIES, NET OF CURRENT PORTION 13202 25280 X 2071449 201149 201149 1870300 48352 48352 1918652 1875314 0 1875314 48352 48352 1923666 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT FUND CONSISTS PRIMARILY OF INVESTMENTS TO PROVIDE A SOURCE OF LONG TERM INCOME TO BE USED TO FUND FUTURE SCHOLARSHIPS FOR COLLEGE STUDENTS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) FOR AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS AND DETERMINED THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURES IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAX AUTHORITIES; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2020. 1 BRIAR CLIFF UNIVERSITY 3303 REBECCA STREET SIOUX CITY IA 51103 420707124 501(C)(3) 46822 0 PROVIDE SCHOLARSHIPS BUENA VISTA UNIVERSITY 610 W 4TH STREET STORM LAKE IA 50588 420680404 501(C)(3) 44173 0 PROVIDE SCHOLARSHIPS CENTRAL COLLEGE 812 UNIVERSITY STREET PELLA IA 50219 420680344 501(C)(3) 58204 0 PROVIDE SCHOLARSHIPS CLARKE UNIVERSITY 1550 CLARKE DRIVE DUBUQUE IA 52001 420680408 501(C)(3) 42583 0 PROVIDE SCHOLARSHIPS COE COLLEGE 1220 1ST AVE NE CEDAR RAPIDS IA 52402 420686467 501(C)(3) 55929 0 PROVIDE SCHOLARSHIPS CORNELL COLLEGE 600 1ST STREET SW MT VERNON IA 52314 420680335 501(C)(3) 47755 0 PROVIDE SCHOLARSHIPS DORDT COLLEGE 498 4TH AVE NE SIOUX CENTER IA 51250 420772559 501(C)(3) 60593 0 PROVIDE SCHOLARSHIPS DRAKE UNIVERSITY 2507 UNIVERSITY AVE DES MOINES IA 50311 420680460 501(C)(3) 61376 0 PROVIDE SCHOLARSHIPS GRACELAND UNIVERSITY 1 UNIVERSITY PLACE LAMONI IA 50140 420707114 501(C)(3) 42654 0 PROVIDE SCHOLARSHIPS GRAND VIEW UNIVERSITY 1200 GRANDVIEW AVE DES MOINES IA 50316 420681049 501(C)(3) 63975 0 PROVIDE SCHOLARSHIPS GRINNELL COLLEGE 733 BROAD STREET GRINNELL IA 50112 420680387 501(C)(3) 54365 0 PROVIDE SCHOLARSHIPS IOWA WESLEYAN COLLEGE 601 N MAIN STREET MT PLEASANT IA 52641 420680332 501(C)(3) 12106 0 PROVIDE SCHOLARSHIPS LORAS COLLEGE 1450 ALTA VISTA STREET DUBUQUE IA 52001 420680412 501(C)(3) 51262 0 PROVIDE SCHOLARSHIPS LUTHER COLLEGE 700 COLLEGE DR DECORAH IA 52101 420680466 501(C)(3) 59964 0 PROVIDE SCHOLARSHIPS MORNINGSIDE COLLEGE 1501 MORNINGSIDE AVE SIOUX CITY IA 51106 420680400 501(C)(3) 56515 0 PROVIDE SCHOLARSHIPS MOUNT MERCY COLLEGE 1330 ELMHURST DR NE CEDAR RAPIDS IA 52402 420681046 501(C)(3) 47737 0 PROVIDE SCHOLARSHIPS NORTHWESTERN COLLEGE 101 7TH ST SW ORANGE CITY IA 51041 420698196 501(C)(3) 63510 0 PROVIDE SCHOLARSHIPS SIMPSON COLLEGE 701 NORTH C STREET INDIANOLA IA 50125 420680389 501(C)(3) 57946 0 PROVIDE SCHOLARSHIPS ST AMBROSE UNIVERSITY 518 WEST LOCUST STREET DAVENPORT IA 52803 420703280 501(C)(3) 60276 0 PROVIDE SCHOLARSHIPS UNIVERSITY OF DUBUQUE 2000 UNIVERSITY AVE DUBUQUE IA 52001 420680323 501(C)(3) 50338 0 PROVIDE SCHOLARSHIPS UPPER IOWA UNIVERSITY 605 WASHINGTON STREET FAYETTE IA 52142 420680372 501(C)(3) 40885 0 PROVIDE SCHOLARSHIPS WARTBURG COLLEGE 100 WARTBURG BLVD WAVERLY IA 50677 420680351 501(C)(3) 65389 0 PROVIDE SCHOLARSHIPS WILLIAM PENN UNIVERSITY 201 W TRUEBLOOD AVE OSKALOOSA IA 52577 420707120 501(C)(3) 46365 0 PROVIDE SCHOLARSHIPS IOWA STATE UNIVERSITY 2229 LINCOLN WAY AMES IA 50011 426004224 115 28000 0 PROVIDE SCHOLARSHIPS UNIVERSITY OF IOWA 5 W JEFFERSON STREET IOWA CITY IA 52245 426004813 115 28000 0 PROVIDE SCHOLARSHIPS UNIVERSITY OF NORTHERN IOWA 1227 W 27TH STREET CEDAR FALLS IA 50614 426004333 115 7500 0 PROVIDE SCHOLARSHIPS DES MOINES AREA COMMUNITY COLLEGE 2006 S ANKENY BLVD ANKENY IA 50023 421314704 115 12500 0 PROVIDE SCHOLARSHIPS PART I, LINE 2: IOWA COLLEGE FOUNDATION WORKS CLOSELY WITH THE MEMBER INSTITUTIONS AND THEIR RESPECTIVE ADMINISTRATIVE OFFICES TO ENSURE THE INTENDED RECIPIENTS ARE RECEIVING THE CORRECT AMOUNT OF ASSISTANCE. X X 0 0 0 0 0 0 0 0 0 ED FINN PRESIDENT 193421 0 0 0 0 0 28530 0 1864 0 223815 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT AND BOARD OF GOVERNORS REVIEW THE FORM 990 PRIOR TO SIGNING AND SENDING TO IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS COORDINATED ANNUALLY THROUGH THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF GOVERNORS REVIEWS AND APPROVES COMPENSATION OF KEY EMPLOYEES ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL RECORDS AND OTHER OFFICIAL DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE FOUNDATION. FORM 990, PART XII, LINE 2C: THE FOUNDATION'S PROCESS FOR SELECTING AND OVERSEEING THE INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PREVIOUS YEAR.