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Passes our checks

Iowa Capital Investment Corporation

EIN 37-1452496 · Oklahoma City, OK

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthNot ratedToo small or too little detailGovernanceFair50 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • It owes more than it owns.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

IOWA CAPITAL INVESTMENT CORPORATION'S (ICIC) PRIMARY PURPOSE IS TO ORGANIZE AND MANAGE THE IOWA FUND OF FUNDS. ICIC CONDUCTS ITS ACTIVITIES FOR THE EXCLUSIVE BENEFIT OF THE STATE OF IOWA. THROUGH ITS OPERATIONS, ICIC PROMOTES ECONOMIC DEVELOPMENT AND SOCIAL WELFARE IN IOWA, AND WORKS TO LESSEN THE BURDENS IMPOSED UPON THE STATE'S GOVERNMENT. BY SERVING AS THE GENERAL PARTNER AND OPERATING THE IOWA FUND OF FUNDS, ICIC ENCOURAGES INVESTMENT IN LOCAL INDUSTRY AND WORKS TO CREATE JOBS AND ALLEVIATE UNEMPLOYMENT IN IOWA.

Income
$75,000
Spending
$1,800
Reserves
-1439 months of spending
Largest source of income
fees for its services, 100%
Employees
0
Volunteers
1

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

We do not score finances when yearly spending is very small or the return has too little detail. The ratios stop meaning much at that size.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 50 out of 100. Higher than 19% of charities in its peer group (community improvement, under $250k).

  • Independent board

    0 of 25

    1 of 1 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. IOWA CAPITAL INVESTMENT CORPORATION ACTS AS THE GENERAL PARTNER OF THE IOWA FUND OF FUNDS. THE IOWA FUND OF FUNDS HAS COMMITTED A TOTAL OF $34.96 MILLION TO VENTURE CAPITAL FUNDS THAT MAINTAIN AN IOWA PRESENCE AND HAVE AGREED TO SEEK INVESTMENT OPPORTUNITIES IN IOWA DURING THEIR ACTIVE INVESTMENT PERIOD. THE MANAGERS OF ALL OF THE SELECTED VENTURE FUNDS HAVE ALSO AGREED, DURING SAID INVESTMENT PERIOD, TO PARTICIPATE IN A WIDE VARIETY OF IOWA VENTURE ACTIVITIES, AS WELL AS TO CONDUCT AGGRESSIVE DEAL PROSPECTING THROUGHOUT THE STATE. FUND MANAGERS HAVE ALSO WORKED WITH IOWA UNIVERSITIES, REGIONAL BUSINESS ACCELERATORS, AND LOCAL DEVELOPMENT GROUPS TO HELP ASPIRING IOWA GROWTH BUSINESSES.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 2004.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.