Iowa State University Foundation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
SEE SCHEDULE O.
- Income
- $196.2 million
- Spending
- $204.9 million
- Spent on programs
- 78%
- Reserves
- 4.9 months of spending
- Largest source of income
- donations and private grants, 86%
- Employees
- 305
- Volunteers
- 229
- Highest pay
- $619,730, president and ceo
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 78 out of 100. Higher than 71% of charities in its peer group (education, over $100m).
Reserves
20 of 35Spendable reserves would cover 4.9 months of spending.
Debt
20 of 20It owes 3% of what it owns.
Living within its means
8 of 15Spending exceeded income by 4% of income.
Income trend
15 of 15Income rose 37% on the year before.
Spending floor
15 of 1578% of spending went to programs and raising each dollar of donations cost 14 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 90 out of 100. Higher than 14% of charities in its peer group (education, over $100m).
Independent board
25 of 2517 of 17 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
0 of 10Did not give the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, 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 (4)
- $63.1 million spent. FACILITIES: THE FOUNDATION PROVIDED MORE THAN $63 MILLION TO THE UNIVERSITY IN SUPPORT OF NEW BUILDING CONSTRUCTION, RENOVATION, AND EQUIPMENT NEEDS. STATE-OF-THE-ART FACILITIES HELP THE UNIVERSITY ATTRACT HIGH-QUALITY FACULTY AND STUDENTS. THESE FACILITIES PROVIDE SPACE, ENVIRONMENTS, AND TECHNOLOGIES THAT PROMOTE THE HIGHEST LEVELS OF TEACHING, LEARNING, AND RESEARCH. PRIVATE GIFT SUPPORT ASSISTED IN FUNDING OF THE THERKILDSEN INDUSTRIAL ENGINEERING BUILDING, VETERINARY DIAGNOSTIC LABORATORY, LABARON HALL, AND MORE.
- $57.1 million spent. STUDENT SUPPORT: IOWA STATE UNDERGRADUATE AND GRADUATE STUDENTS RECEIVED OVER $57.1 MILLION IN SCHOLARSHIPS, FELLOWSHIPS, LOANS, AND AWARDS FROM PRIVATE GIFT SUPPORT. STUDENTS RECEIVED BOTH MERIT AND NEED BASED SCHOLARSHIPS ACROSS ALL PROGRAMS AND UNITS OF THE UNIVERSITY. PRIVATE GIFT SUPPORT IS CRITICAL TO ENSURING THAT ALL WILLING STUDENTS ARE ABLE TO EXPLORE THEIR EDUCATION OPPORTUNITIES, EXPERIENCE COLLEGE LIFE, AND EFFICIENTLY MANAGE TUITION COSTS AND DEBT LOADS. IN THE FISCAL YEAR, MORE THAN 8,400 STUDENTS RECEIVED SCHOLARSHIPS FUNDED BY PRIVATE GIFT SUPPORT.
- $33.5 million spent. FACULTY AND PROGRAM SUPPORT: WITH OVER $33.5 MILLION FROM THE IOWA STATE UNIVERSITY FOUNDATION, UNIVERSITY FACULTY AND STAFF RECEIVED ADDITIONAL SUPPORT ALLOWING FOR INCREASED RESEARCH OPPORTUNITIES AND IMPROVED CLASSROOM EXPERIENCES FOR ALL STUDENTS. PRIVATE GIFT SUPPORT HELPS MEET THE UNIVERSITY'S GOAL TO ATTRACT AND RETAIN THE WORLD-CLASS FACULTY WHICH ULTIMATELY ATTRACTS THE BEST AND BRIGHTEST STUDENTS. DURING THE FISCAL YEAR, THE NUMBER OF ENDOWED FACULTY POSITIONS (CHAIRS, PROFESSORSHIPS, AND FELLOWSHIPS) WAS 247.
- $5.5 million spent. NONCASH GRANTS GIVEN TO IOWA STATE UNIVERSITY.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
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.
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 November 6, 2026.
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.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since May 1980.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
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 November 4, 2026.
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