2026-05-14T17:22:38-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 10401 W INNOVATION DR 300 WAUWATOSA WI 53226 990 2024-07-01 421143702 IOWA STATE UNIVERSITY FOUNDATION IOWA 5152944607 2505 UNIVERSITY BLVD PO BOX 2230 AMES IA 500102230 EMILY HAGER CHIEF FINANCIAL OFFICER 5152944607 2026-04-23 1 0 LACEY M QUATSOE P01300865 4144761880 2026-05-12 2024 2025-03-06 01:10:19Z LARISSA HOLTMYER-JONES 2505 UNIVERSITY BLVD PO BOX 2230 AMES IA 500102230 464419962 0 X WWW.FOUNDATION.IASTATE.EDU X 1980 IA ALIGNING DONOR PASSION AND GENEROSITY TO ADVANCE IOWA STATE UNIVERSITY'S LAND GRANT IDEALS. 17 17 305 229 -79377 0 111415632 168804798 0 0 28965064 24574811 2832319 2801495 143213015 196181104 165625651 159224118 0 0 21290851 23085686 18228 7448 24108689 18384778 22631426 205319508 204948678 -62106493 -8767574 1955859918 2138119815 49004829 60470406 1906855089 2077649409 X SEE SCHEDULE O. 0 0 63072358 63072358 990363 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. 57103927 57103927 896564 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. 33539384 33539384 613073 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. 5508449 5508449 0 NONCASH GRANTS GIVEN TO IOWA STATE UNIVERSITY. 5508449 5508449 0 159224118 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 113 0 1 305 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 AK AZ CA KY MA MD MI MN NH NJ NY OH OR SC UT WI WV X X EMILY HAGER 5152944607 2505 UNIVERSITY BOULEVARD AMES IA 50010 MARY JANE HAGENSON CHAIR 2.00 0.00 X X 0 0 0 TERRY TOBIN VICE CHAIR 2.00 1.00 X X 0 0 0 CRAIG DENNY SECRETARY 2.00 0.00 X X 0 0 0 DANA WENSTRAND TREASURER 2.00 1.00 X X 0 0 0 JIM BOREL DIRECTOR 1.00 0.00 X 0 0 0 AJAY DESAI DIRECTOR 1.00 0.00 X 0 0 0 JON FLEMING DIRECTOR 1.00 0.00 X 0 0 0 DAVID KINGLAND DIRECTOR 1.00 0.00 X 0 0 0 RICHARD MAHONEY DIRECTOR 1.00 0.00 X 0 0 0 TED OBERLANDER DIRECTOR 1.00 0.00 X 0 0 0 LARRY PITHAN DIRECTOR 1.00 0.00 X 0 0 0 JUDY RALSTON-HANSEN DIRECTOR 1.00 0.00 X 0 0 0 LINDA SCHAKEL DIRECTOR 1.00 1.00 X 0 0 0 CHARLES SUKUP DIRECTOR 1.00 0.00 X 0 0 0 KURT TJADEN DIRECTOR 1.00 0.00 X 0 0 0 DEE VANDEVENTER DIRECTOR 1.00 0.00 X 0 0 0 WENDY WINTERSTEEN DIRECTOR 1.00 1.00 X 0 0 0 LARISSA HOLTMYER JONES PRESIDENT AND CEO 40.00 0.00 X 546673 0 73057 EMILY HAGER VP & CHIEF FINANCIAL OFFICER 40.00 1.00 X 231993 0 51668 JEREMY GALVIN VP & CHIEF DEVELOPMENT OFFICER 40.00 0.00 X 321629 0 62044 ROSA UNAL VP & CHIEF INFO OFFICER 40.00 0.00 X 231110 0 46874 ANN TORGERSON-ROSS VP & CHIEF HUMAN RESOURCES OFFICER 40.00 0.00 X 228415 0 32472 RYAN HARMS ASSISTANT VP OF DEVELOPMENT 40.00 0.00 X 191090 0 44471 AMY KRUZICH ASSISTANT VP OF DEVELOPMENT 40.00 0.00 X 192983 0 33772 KELLY HANFELT ASSISTANT VP OF DEVELOPMENT 40.00 0.00 X 188243 0 46216 ROBERT KINSEY ASSISTANT VP OF DEVELOPMENT 40.00 0.00 X 185112 0 47023 MARY EVANSON ASSISTANT VP OF DEVELOPMENT 40.00 0.00 X 180959 0 44338 2498207 0 481935 39 0 1 0 VIKING LONG FUND LP 55 RAILROAD AVE GREENWICH CT 068306378 INVESTMENT FEES 1240229 CAMBRIDGE ASSOCIATES LLC 950 NORTH GLEBE RD SUITE 200 ARLINGTON VA 22203 CONSULTING 1133875 ADAGE CAPITAL PARTNERS LP 200 CLARENDON ST 52 BOSTON MA 02116 INVESTMENT FEES 938868 SALESFORCE INC PO BOX 3900 SAN FRANCISCO CA 94139 ONLINE/SOFTWARE SERVICES 774168 UC INNOVATION 2855 MICHELLE DR 190 IRVINE CA 92606 CONSULTING 647290 46 168804798 32113690 168804798 3271969 3271969 863 863 306425 5793 300632 300632 300632 286528928 3006979 265129477 3103588 21399451 -96609 21302842 -79377 21382219 ADMINISTRATIVE FEE 541900 2500000 2500000 2500000 196181104 2500000 -79377 24955683 159224118 159224118 1993478 927053 1066425 14781807 2367423 12414384 1490163 242249 1247914 3618895 731232 2887663 1201343 226234 975109 129495 129495 142918 142918 7448 7448 13430959 13430959 1521582 767212 754370 152111 152111 1467631 688637 778994 2886156 900784 1985372 335557 335557 1048444 231253 817191 1154662 133514 1021148 209827 209827 148457 148457 OTHER TAXES 2438 1878 560 OTHER EXPENSES 1189 1189 204948678 159224118 21615871 24108689 5185647 30343516 85391026 109223873 41451 42644 21471011 3759978 19421157 17711033 332982523 304746533 1437520522 1603968728 75317592 72083488 1955859918 2138119815 1705530 1860865 47299299 58609541 49004829 60470406 X 103308500 101381141 1803546589 1976268268 1906855089 2077649409 1955859918 2138119815 X -8767574 180289888 -727994 X 0 1 X 1 0 X 150793472 211090028 111023294 111415632 168804798 753127224 150793472 211090028 111023294 111415632 168804798 753127224 105562569 647564655 1384427 1343661 3093820 4221985 3579257 13623150 167981 167981 17041 73 145 17259 766935614 12450000 0.84440 0.88780 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 17,041. 2021 AMOUNT: $ 73. 2022 AMOUNT: $ 145. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1440058849 35520698 166091532 16984816 41451828 18900623 1564333812 1351963282 26430585 134562035 15879726 39708693 17308634 1440058849 1289490190 38614986 90144867 14390092 35640628 16256041 1351963282 1279615875 94941138 -22718428 16357015 28718421 17272959 1289490190 930883959 55033035 353295382 19345902 27077674 13172925 1279615875 0.01890 0.98110 0.00000 1 0 14908414 960000 15868414 4700488 2963473 1737015 902109 796505 105604 17711033 EQUITY 804442720 F HEDGE FUNDS 185128805 F PRIVATE EQUITY 374349587 F NATURAL RESOURCES/COMMODITIES 40639834 F REAL ESTATE 57021873 F FIXED INCOME 142385909 F 1603968728 SPLIT-INTEREST AGREEMENT OBLIGATION 22708671 DUE TO RELATED ORGANIZATIONS 34804683 TRUST LIABILITY DUE TO OTHERS 466650 OTHER LONG-TERM LIABILITIES 629537 58609541 X PART V, LINE 4: THE IOWA STATE UNIVERSITY FOUNDATION USES THE EARNINGS FROM THE ENDOWMENT FUNDS BASED UPON THE DONOR INTENT OF INDIVIDUAL ENDOWED ACCOUNTS. THESE USES INCLUDE SUPPORT FOR COLLEGE PROGRAMS, STUDENT FINANCIAL AID, FACULTY AND STAFF, RESEARCH, BUILDINGS, EQUIPMENT, AND MAINTENANCE, AS WELL AS OTHER USES. PART X, LINE 2: THE FOUNDATION IS CLASSIFIED AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE IRC AND IS NOT A PRIVATE FOUNDATION UNDER IRC SECTIONS 509(A)(L) AND 170(B)(L)(A)(IV). AS SUCH, THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER IRC SECTION S0L(A) EXCEPT ON UNRELATED BUSINESS INCOME, AND AS A PUBLIC CHARITY, CONTRIBUTIONS TO THE FOUNDATION ARE DEDUCTIBLE. THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. SUCH TAX POSITIONS, WHICH ARE MORE THAN 50% LIKELY OF BEING REALIZED, ARE MEASURED AT THEIR HIGHEST VALUE. CHANGES IN RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE FOUNDATION APPLIED THE UNCERTAIN TAX POSITION GUIDANCE TO ALL TAX POSITIONS FOR WHICH THE STATUTE OF LIMITATIONS REMAINS OPEN. THE STATUTE OF LIMITATIONS ON THE FOUNDATION'S U.S. FEDERAL TAX RETURNS REMAINS OPEN FOR THE YEARS ENDED JUNE 30, 2022 THROUGH THE PRESENT. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 204033977 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 7025336 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 16534175 0 0 0 0 0 0 227593488 0 227593488 1 0 1 1 1 0 SCHEDULE F, PART V ISU FOUNDATION IS A DIRECT AND INDIRECT SHAREHOLDER IN VARIOUS FOREIGN INVESTMENTS. HOWEVER, BASED ON THE RULES OF VARIOUS FORMS, IT MAY NOT HAVE A FILING REQUIREMENT. 1 IOWA STATE UNIVERSITY BEARDSHEAR HALL AMES IA 50011 426004224 GOV 153715669 5508449 FMV PUBLICLY TRADED SECURITIES, BOOKS, ART, AND OTHER NON-CASH GIFTS STUDENT SUPPORT (SCHOLARSHIPS, FELLOWSHIPS, LOANS, AWARDS), FACULTY AND STAFF SUPPORT (ENDOWED FACULTY POSITIONS, RESEARCH, PROFESSIONAL DEVELOPMENT), PROGRAM SUPPORT (ACADEMIC AND OUT-OF-CLASSROOM PROGRAMS AND CAMPUS ORGANIZATIONS), AND FACILITIES SUPPORT (BUILDING CONSTRUCTION AND RENOVATION, EQUIPMENT). 1 0 PART I, LINE 2: MONITORING COMPLIANCE WITH DONOR INTENT IS A COLLABORATIVE EFFORT BETWEEN GIFT FUND ADMINISTRATORS AT IOWA STATE UNIVERSITY AND THE DONOR COMPLIANCE SERVICES TEAM AT ISU FOUNDATION. UNIVERSITY PERSONNEL ARE RESPONSIBLE FOR MONITORING EXPENDITURES FOR APPROPRIATENESS AND ALLOWABILITY. THE DONOR COMPLIANCE SERVICES TEAM STRIVES TO MONITOR THE EXPENDITURES AND BALANCES OF THE VARIOUS ACCOUNTS, WITH THE FOCUS ON DONOR INTENT, AS WELL AS DEVELOP STRATEGIES TO ENSURE DONOR COMPLIANCE WITH THE DONOR GIFT AGREEMENTS IN PLACE. X X 1 1 X X X 0 1 0 0 0 0 0 0 0 LARISSA HOLTMYER JONES PRESIDENT AND CEO 508786 0 0 0 37887 0 46500 0 26557 0 619730 0 0 0 JEREMY GALVIN VP & CHIEF DEVELOPMENT OFFICER 319906 0 0 0 1723 0 32653 0 29391 0 383673 0 0 0 EMILY HAGER VP & CHIEF FINANCIAL OFFICER 231053 0 0 0 940 0 24133 0 27535 0 283661 0 0 0 ROSA UNAL VP & CHIEF INFO OFFICER 228743 0 0 0 2367 0 23440 0 23434 0 277984 0 0 0 ANN TORGERSON-ROSS VP & CHIEF HUMAN RESOURCES OFFICER 226173 0 0 0 2242 0 22694 0 9778 0 260887 0 0 0 RYAN HARMS ASSISTANT VP OF DEVELOPMENT 189778 0 0 0 1312 0 19287 0 25184 0 235561 0 0 0 KELLY HANFELT ASSISTANT VP OF DEVELOPMENT 187253 0 0 0 990 0 19337 0 26879 0 234459 0 0 0 ROBERT KINSEY ASSISTANT VP OF DEVELOPMENT 184201 0 0 0 911 0 18999 0 28024 0 232135 0 0 0 AMY KRUZICH ASSISTANT VP OF DEVELOPMENT 191868 0 0 0 1115 0 19411 0 14361 0 226755 0 0 0 MARY EVANSON ASSISTANT VP OF DEVELOPMENT 179752 0 0 0 1207 0 18333 0 26005 0 225297 0 0 0 PART I, LINE 1A WHEN THERE IS A BUSINESS PURPOSE, OCCASIONAL PRIVATE/CHARTER AIRCRAFT ARE USED. TRAVEL FOR COMPANIONS WAS PROVIDED WHEN THERE WAS A BUSINESS PURPOSE FOR THE COMPANION ATTENDING THE FUNDRAISING EVENT. THESE BENEFITS ARE CONSIDERED BUSINESS EXPENSES AND THEREFORE ARE NOT CONSIDERED TAXABLE INCOME TO THE INDIVIDUALS. PART I, LINE 4B LARISSA HOLTMYER JONES PARTICIPATES IN A 457(F) PLAN, AND CONTRIBUTIONS WERE $12,000. X 1 350000 APPRAISAL X 3152 APPRAISAL X 500 FAIR MARKET VALUE X 177 16658301 FAIR MARKET VALUE X 1 25046 FAIR MARKET VALUE X 1251 6596678 FAIR MARKET VALUE X 2 2621000 APPRAISAL X 2 488000 APPRAISAL X EQUIPMENT 5 4777279 FAIR MARKET VALUE X OTHER 41 392775 REPLACEMENT COSTS X GRAIN 12 200959 FAIR MARKET VALUE 7 0 1 1 PART I, COLUMN (B): THIS REPRESENTS THE NUMBER OF CONTRIBUTORS. PART I, LINE 32B: ISU FOUNDATION HIRES REAL ESTATE COMPANIES OR SIMILAR ORGANIZATIONS TO SELL ANY REAL ESTATE PROPERTY. FORM 990, PART III, LINE 1 IOWA STATE UNIVERSITY FOUNDATION'S (ISU FOUNDATION) MISSION IS TO ALIGN DONOR PASSION AND GENEROSITY TO ADVANCE IOWA STATE UNIVERSITY'S LAND- GRANT IDEALS. THE FOUNDATION MAXIMIZES PHILANTHROPY IN SUPPORT OF IOWA STATE UNIVERSITY - ITS STUDENTS, FACULTY, FACILITIES, AND PROGRAMS. THIS IS ACCOMPLISHED BY PROMOTING AND NURTURING VOLUNTEERISM AND PHILANTHROPY, COLLABORATING AND BUILDING PARTNERSHIPS WITH UNIVERSITY ADMINISTRATORS AND FACULTY, BUILDING LONG-TERM RELATIONSHIPS WITH DONORS WHILE REPRESENTING THEIR NEEDS AND INTERESTS, OPERATING WITH OPENNESS AND TRANSPARENCY WHILE HONORING DONORS' PRIVACY, AND PROVIDING FOUNDATION STAFF AND VOLUNTEERS WITH THE TOOLS AND RESOURCES NEEDED TO ACHIEVE THESE GOALS. THE FOUNDATION RAISED NEARLY $223 MILLION IN NEW GIFTS AND COMMITMENTS FOR THE YEAR ENDING ON JUNE 30, 2025. THESE RESULTS WERE DUE TO THE GENEROUS SUPPORT OF OVER 43,000 BENEFACTORS, INCLUDING OVER 7,600 FIRST-TIME DONORS. AS A LAND-GRANT UNIVERSITY, IOWA STATE IS COMMITTED TO THE MISSION OF PROVIDING OPPORTUNITIES FOR STUDENTS OF ALL BACKGROUNDS TO ACCESS AND OBTAIN A HIGH-QUALITY COLLEGE EDUCATION. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR OF THE BOARD, THE IMMEDIATE PAST CHAIR OF THE BOARD, THE VICE CHAIR, THE SECRETARY, THE PRESIDENT, OR INTERIM PRESIDENT OF IOWA STATE UNIVERSITY, AND THE CHAIRS OF THE DEVELOPMENT, AUDIT, FINANCE, AND INVESTMENT COMMITTEES. THE EXECUTIVE COMMITTEE SHALL EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE BUSINESS OF THE ORGANIZATION BETWEEN MEETINGS OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 AS OF THE EFFECTIVE DATE OF THE AMENDED AND RESTATED BYLAWS, ISU FOUNDATION HAS MEMBERS WHICH ARE KNOWN AS THE "IOWA STATE UNIVERSITY FOUNDATION GOVERNORS." EACH MEMBER SHALL SERVE UNTIL DEATH OR UNTIL RESIGNATION OR REMOVAL PURSUANT TO THE AMENDED AND RESTATED BYLAWS. ADDITIONAL PERSONS MAY BECOME MEMBERS UPON NOMINATION BY ANOTHER MEMBER, FOLLOWED BY RECOMMENDATION BY THE GOVERNOR MEMBERSHIP COMMITTEE, APPROVAL BY THE BOARD OF DIRECTORS, AND ELECTION BY THE CORPORATION'S MEMBERS AT ANY ANNUAL OR SPECIAL MEETING. THE AFFAIRS AND BUSINESS OF THE CORPORATION SHALL BE CONDUCTED BY A BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS COMPOSED OF UP TO TWENTY (20) DIRECTORS ALLOCATED AMONG FOUR CLASSES OF DIRECTORS. A) CLASS A DIRECTORS SHALL BE BETWEEN TEN (10) AND TWELVE (12) IN NUMBER, AND SHALL BE ELECTED FROM AND BY THE MEMBERS OF THE CORPORATION UPON NOMINATION BY THE BOARD GOVERNANCE COMMITTEE AND APPROVAL BY THE BOARD OF DIRECTORS. THE TERM OF EACH CLASS A DIRECTOR SHALL COMMENCE WITH THE START OF THE CORPORATION'S FISCAL YEAR IMMEDIATELY FOLLOWING SUCH DIRECTOR'S ELECTION AND SHALL CONTINUE UNTIL THE EXPIRATION OF THE FOURTH FISCAL YEAR THEREAFTER, PROVIDED, HOWEVER, THAT ANY DIRECTOR ELECTED TO FILL A VACANCY SHALL SERVE FOR THE REMAINDER OF THE VACATED TERM. EACH CLASS A DIRECTOR MAY SERVE UP TO TWO (2) TERMS, WHICH MAY BE CONSECUTIVE. B) CLASS B DIRECTORS SHALL CONSIST OF THOSE INDIVIDUALS WHO ARE MEMBERS OF THE CORPORATION WHO ARE NOT THEN CURRENTLY SERVING AS CLASS A DIRECTORS, BUT WHO ARE NEVERTHELESS NOMINATED BY THE CHAIR AND SELECTED BY THE BOARD TO SERVE AS A CHAIR OF ONE OF THE FOLLOWING COMMITTEES OF THE BOARD (I) AUDIT COMMITTEE, (II) DEVELOPMENT COMMITTEE, (OR CAMPAIGN COMMITTEE), (III) FINANCE COMMITTEE, (IV) INVESTMENT COMMITTEE, AND (V) BOARD GOVERNANCE COMMITTEE. CLASS B DIRECTORS SHALL SERVE FOR THE DURATION OF THEIR QUALIFYING CHAIRSHIP. C) THE CORPORATION SHALL HAVE ONE (1) CLASS C DIRECTOR WHO SHALL BE THE INDIVIDUAL THEN SERVING AS PRESIDENT OR INTERIM PRESIDENT OF IOWA STATE UNIVERSITY. THE CLASS C DIRECTOR SHALL SERVE FOR THE DURATION OF HIS OR HER TENURE AS PRESIDENT OR INTERIM PRESIDENT OF IOWA STATE UNIVERSITY. D) THE CORPORATION MAY HAVE UP TO TWO (2) CLASS D DIRECTORS, WHO MAY OR MAY NOT BE MEMBERS OF THE CORPORATION, APPOINTED BY THE BOARD OF DIRECTORS AT A REGULAR OR SPECIAL MEETING. THE TERM OF EACH CLASS D DIRECTOR SHALL BE DESIGNATED BY THE BOARD OF DIRECTORS UPON SUCH APPOINTMENT. APPOINTMENT OF CLASS D DIRECTORS, IF ANY, SHALL BE WITHIN THE DISCRETION OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B EACH ACTIVE MEMBER OF THE CORPORATION PRESENT SHALL BE ENTITLED TO ONE VOTE ON ANY QUESTION PROPERLY COMING BEFORE THE MEMBERS AT AN ANNUAL OR SPECIAL MEETING. WHILE THE AFFAIRS AND BUSINESS OF THE CORPORATION ARE DIRECTED TO AND CONDUCTED BY THE BOARD OF DIRECTORS, THE MEMBERS OF THE CORPORATION SHALL BE RESPONSIBLE FOR APPROVAL OF CLASS A DIRECTORS AND ANY AMENDMENTS TO THE ARTICLES OF INCORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE INFORMATION FOR FORM 990 IS PREPARED AND COMPILED BY THE FINANCE STAFF OF ISU FOUNDATION AND PROVIDED TO CLIFTONLARSONALLEN. AN INITIAL DRAFT OF THE FORM 990 IS PROVIDED TO THE FOUNDATION FOR REVIEW BY THE CONTROLLER AND THE CHIEF FINANCIAL OFFICER. AFTER INCORPORATING ANY CHANGES AND COMPLETING THEIR REVIEW, CLIFTONLARSONALLEN PROVIDES A FINAL DRAFT FOR PRESENTATION TO THE ISU FOUNDATION AUDIT COMMITTEE FOR REVIEW AND APPROVAL. AFTER APPROVAL BY THE AUDIT COMMITTEE, THE FORM 990 IS PROVIDED TO THE ISU FOUNDATION BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO FILING. THE FORM 990 IS THEN FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ISU FOUNDATION, ON AN ANNUAL BASIS, PROVIDES A COPY OF THE CONFLICT OF INTEREST POLICY TO ALL RESPONSIBLE PERSONS, INCLUDING THE BOARD OF DIRECTORS, COMMITTEE MEMBERS AND ALL EMPLOYEES WHO INFLUENCE THE ACTIONS OF ISU FOUNDATION. RESPONSIBLE PERSONS ARE ASKED TO REVIEW THE POLICY AND DISCLOSE ANY CONFLICTS OF INTEREST AS OUTLINED IN THE POLICY ON AN ANNUAL BASIS. DISCLOSED CONFLICTS ARE REVIEWED BY THE BOARD GOVERNANCE COMMITTEE AND ARE HANDLED ON AN INDIVIDUAL BASIS. THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF SUCH TRANSACTION. COMPLETED DISCLOSURE FORMS ARE RETAINED IN THE FOUNDATION'S PERMANENT FILE. FORM 990, PART VI, SECTION B, LINE 15 ANY CHANGE TO COMPENSATION FOR THE PRESIDENT OF ISU FOUNDATION IS AUTHORIZED BY THE STAFF TALENT COMMITTEE OF THE BOARD OF DIRECTORS, ACTING AS THE ENTITY'S COMPENSATION COMMITTEE. THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE STAFF TALENT COMMITTEE BASED UPON THE RECOMMENDATION OF THE CHAIR. THE CHAIR'S RECOMMENDATION IS BASED ON 1) GATHERING INFORMATION REGARDING COMPENSATION BEING PAID TO PERSONS IN COMPARABLE POSITIONS AROUND THE COUNTRY (PREPARED BY THE HUMAN RESOURCES ADMINISTRATOR), 2) SOLICITING A SELF EVALUATION FROM THE PRESIDENT, TOGETHER WITH EVALUATIONS FROM ANYONE ELSE THE CHAIR DEEMS APPROPRIATE, 3) CONDUCTING A PERFORMANCE REVIEW WITH THE PRESIDENT AND ESTABLISHING NEW OBJECTIVES FOR THE YEAR, 4) COMPENSATION SURVEYS COMPLETED ANNUALLY, AND 5) EVALUATING WITH OTHER MEMBERS OF THE COMMITTEE THE PERFORMANCE IN LIGHT OF THE OBJECTIVES ESTABLISHED AT THE BEGINNING OF THE YEAR. COMPENSATION RELATED TO THE SENIOR LEADERSHIP TEAM IS DETERMINED BY THE PRESIDENT OF ISU FOUNDATION, WHO IS ALSO ADVISED BY BOARD MEMBERS IN REGARDS TO QUALIFICATION STANDARDS. THE PRESIDENT ALSO REVIEWS MARKET COMPENSATION INFORMATION PROVIDED BY HUMAN RESOURCES. COMPENSATION INFORMATION FOR THE PRESIDENT IS SHARED WITH THE BOARD OF DIRECTORS. THE DELIBERATION AND DECISIONS REGARDING COMPENSATION ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF ALL OF THE ISU FOUNDATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY CAN BE REQUESTED THROUGH THE ISU FOUNDATION OFFICE. THE FINANCIAL STATEMENTS AND TAX RETURNS FOR THE PAST THREE YEARS ARE ALSO PROVIDED ON THE ISU FOUNDATION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -1,863,029. CHANGE IN BENEFICIAL INTEREST OF TRUSTS HELD BY OTHERS 1,135,035. FOUNDATION PROPERTIES 2505 UNIVERSITY BOULEVARD AMES IA 500102230 421143702 REAL ESTATE IA 0 0 IOWA STATE UNIVERSITY FOUNDATION FORESTRY CAMP LLC 2505 UNIVERSITY BOULEVARD AMES IA 500102230 421143702 REAL ESTATE IA 0 3100000 IOWA STATE UNIVERSITY FOUNDATION FOUNDATION VENTURES 2505 UNIVERSITY BOULEVARD AMES IA 500102230 421143702 INVESTMENT IA 0 0 IOWA STATE UNIVERSITY FOUNDATION EARTH PROGRAM LLC 2505 UNIVERSITY BOULEVARD AMES IA 500102230 421143702 REAL ESTATE IA 0 1585000 IOWA STATE UNIVERSITY FOUNDATION THE ORIGINAL UNIVERSITY FOUNDATION 2505 UNIVERSITY BOULEVARD AMES IA 500102230 420861651 SUPPORT IA 501(C)(3) LINE 1 IOWA STATE UNIVERSITY FOUNDATION 1 IOWA STATE UNIVERSITY ACHIEVEMENT FUND 2505 UNIVERSITY BOULEVARD AMES IA 500102230 426059969 SUPPORT IA 501(C)(3) LINE 1 IOWA STATE UNIVERSITY FOUNDATION 1 ISU FACILITIES CORPORATION 2505 UNIVERSITY BOULEVARD AMES IA 500102230 474757561 BOND ISSUANCE IA 501(C)(3) LINE 1 IOWA STATE UNIVERSITY FOUNDATION 1 CHARITABLE REMAINDER TRUSTS (41) 2505 UNIVERSITY BOULEVARD AMES IA 500102230 421143702 TRUST IA IOWA STATE UNIVERSITY FOUNDATION T 1 CLEARWATER CROSSING LODGE HOLE IN THE WALL INC 2505 UNIVERSITY BOULEVARD AMES IA 500102230 COURSES/CAMP ACTIVITIES IA IOWA STATE UNIVERSITY FOUNDATION S -63185 516888 1.00000 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 CHARITABLE REMAINDER TRUSTS (41) S 5110767 FMV IOWA STATE UNIVERSITY ACHIEVEMENT FUND C 52184 CASH SCHEDULE R, PART II: THE IOWA STATE UNIVERSITY FOUNDATION WAS ESTABLISHED IN 1980 TO SERVE AS THE PRIMARY FUNDRAISING ORGANIZATION FOR IOWA STATE UNIVERSITY. THE ORIGINAL UNIVERSITY FOUNDATION AND THE IOWA STATE UNIVERSITY ACHIEVEMENT FUND WERE BOTH PREDECESSOR ORGANIZATIONS TO THE ISU FOUNDATION AND CONTINUE TO EXIST AS SEPARATE LEGAL ENTITIES. ANY ACTIVITY RELATING TO THE TWO PREDECESSOR ORGANIZATIONS IS TRANSFERRED IMMEDIATELY INTO THE ISU FOUNDATION. FOR FINANCIAL STATEMENT PURPOSES, ALL THREE ORGANIZATIONS ARE REPORTED ON A COMBINED BASIS DUE TO A COMMON BOARD OF DIRECTORS, COMMON MANAGEMENT, AND THE COMMON MISSION TO SUPPORT THE UNIVERSITY. THE ISU FACILITIES CORPORATION IS A RELATED TAX-EXEMPT ORGANIZATION ESTABLISHED PRIMARILY TO ISSUE REVENUE BONDS TO ASSIST IN FUNDING CONSTRUCTIONS PROJECTS AT THE UNIVERSITY. THE BONDS ARE PAYABLE SOLELY FROM THE LEASE PAYMENTS PAID BY THE UNIVERSITY FOR THE FACILITIES AND UPON REPAYMENT OF THE BONDS, OWNERSHIP OF THE FACILITIES TRANSFER TO THE UNIVERSITY. FOR FINANCAIL STATEMENT PURPOSES, THE ISU FACILITIES CORPORATION ACTIVITY IS REPORTED IN IOWA STATE UNIVERSITY'S FINANCIAL STATEMENTS.