2020-03-05T12:56:02-06:00 2019-06-30 KPMG LLP 4200 WELLS FARGO CENTER90 S 7TH ST MINNEAPOLIS MN 55402 990 2018-07-01 421143702 IOWA STATE UNIVERSITY FOUNDATION % Lisa Eslinger IOWA 5152944607 2505 Univ Blvd PO Box 2230 Ames IA 500102230 LISA ESLINGER CFAO 2020-03-02 true HOlly K Moen P01800653 6123055000 167.68.102.5 41438720200655000000 2020-03-05 P EA4B65EE71D42BE71D1FFD4325509DD549A18899 08F4BBC55E9488B8148948F9FE803654FA22A38E 2018 2020-09-22 18:59:49Z Larissa Holtmyer Jones 2505 University Boulevard Ames IA 500102230 506922364 false X www.foundation.iastate.edu X 1980 IA Aligning donor passion and generosity to advance Iowa State University's land-grant ideals. 17 17 439 193 -2755470 -2848448 167710694 145041131 0 0 53995541 12986884 2830753 2779731 224536988 160807746 83336279 118656499 0 0 12849373 13005657 0 0 13128089 -2152714 13906228 94032938 145568384 130504050 15239362 1263197387 1341412954 37972134 53409047 1225225253 1288003907 X Iowa State University Foundation's 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 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 $182 million in new gifts and commitments for the year ending on June 30, 2019. These results were due to the generous support of nearly 32,000 benefactors, including over 4,000 first-time donors. Continued in Schedule O false false 34295074 34295074 726071 Student Support: Iowa State undergraduate and graduate students received more than $34 million in scholarships, fellowships, loans and awards from private gift support. Students received both merit- and need-based scholarship support 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 2019, over 6,700 students received scholarships funded by private gift support. 32446900 32446900 686943 Faculty and Program Support: With more than $32 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 2019, the number of endowed faculty positions (chairs, professorships and fellowships) was 209. 51342419 51342419 1086986 Facilities: The Foundation provided more than $51 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 Student Innovation Center, the Gerdin Building addition, the Student Athletics Performance Center and more. 560352 560352 Noncash Grants 1751602 Annuity Payment and Actuarial Valuation 11754 11754 ISU Facilities Corporation Fees 2323708 572106 120408101 true true false false false false false false false true true true false false true true false true false false true false false false false false false true false true true false false false false false false false false false false true true false false true true true false false false true X 98 0 true 439 true true true false false false false true true false false false false false false false X 17 17 false false true false true true true true true false false true true true true true true true true true false AK AZ CA KY MD MA MI MN NH NJ NY OH OR SC UT WV WI X X Lisa Eslinger 5152944607 2505 University Boulevard Ames IA 500102230 X Nancy Armbrust Chair 5.0 0.0 X X 0 0 0 Gary Streit Vice Chair 2.0 1.0 X X 0 0 0 James Frein Secretary 2.0 0.0 X X 0 0 0 Mary Jane Hagenson Treasurer 2.0 0.0 X X 0 0 0 Gregg Behrens Director 1.0 0.0 X 0 0 0 Craig Denny Director 1.0 0.0 X 0 0 0 Jon Fleming Director 1.0 0.0 X 0 0 0 Ron Hallenbeck Director 1.0 1.0 X 0 0 0 Kathy Howell Director 1.0 0.0 X 0 0 0 Barbara Janson Director 1.0 0.0 X 0 0 0 Ric Jurgens Director 1.0 0.0 X 0 0 0 David Kingland Director 1.0 0.0 X 0 0 0 Richard Mahoney Director 1.0 0.0 X 0 0 0 Larry Pithan Director 1.0 0.0 X 0 0 0 Terry Tobin Director 1.0 0.0 X 0 0 0 Roger Underwood Director 1.0 0.0 X 0 0 0 Wendy Wintersteen Director 1.0 1.0 X 0 0 0 Larissa Holtmyer Jones President and CEO 40.0 0.0 X 365933 0 43925 Lisa Eslinger Chief Financial/Admin Officer 40.0 1.0 X 254261 0 34591 Steve Biever VP for Development 40.0 0.0 X 212184 0 37752 Jeremy Galvin VP for Development 40.0 0.0 X 212460 0 37244 Jenni Cushman Sr Exec Dir of Development 40.0 0.0 X 151513 0 24314 Rosa Unal Assoc VP/Chief Info Officer 40.0 0.0 X 149439 0 31578 Michael Wahlin Assistant VP of Investments 40.0 1.0 X 134995 0 29983 Kelly Hanfelt Sr Exec Dir of Development 40.0 0.0 X 128993 0 27609 Ryan Harms Exec Dir of Development 40.0 0.0 X 123835 0 28504 1733613 0 295500 20 false true false Cambridge Associates 4100 North Fairfax Drive Suite 130 Arlington VA 222031664 Consulting 999500 Viking Long Fund LP 55 Railroad Ave Greenwich CT 06830 Investment Fees 677776 Kiltearn Partners Inc 651 Holiday Drive Suite 300 Pittsburgh PA 15220 Investment Fees 395938 KPMG LLP 666 Grand Avenue Suite 2500 Des Moines IA 50309 Audit/Tax Fees 329355 Center Rock Capital Partners Fund I 39400 Woodward Ave Ste 185 Bloomfield Hills MI 48304 Investment Fees 324524 23 145041131 15157664 145041131 0 2206772 -2755470 4962242 0 1365 1365 238542 238542 0 238542 238542 356160727 734003 344555030 1559588 11605697 -825585 10780112 10780112 0 0 0 0 0 0 0 0 0 Administrative Fee 541900 2500000 2500000 Other 611710 39824 39824 2539824 160807746 2500000 -2755470 16022085 118656499 118656499 0 0 0 1202392 330181 872211 0 8715559 1468046 7247513 847498 143463 704035 1566823 367374 1199449 673385 119493 553892 0 86161 86161 141611 141611 0 0 7062386 7062386 735573 520124 215449 183171 183171 1072790 457289 615501 785783 328585 457198 0 244939 244939 748678 182327 566351 0 600687 87368 513319 64009 64009 0 258601 258601 78922 78922 Miscellaneous Expenses 91315 91315 Annuity Payments 1751602 1751602 145568384 120408101 12032194 13128089 0 0 3269489 3808183 125480210 141160910 0 0 0 0 0 0 1318113 1094382 0 0 0 0 16365541 3476511 14651663 12889030 428966585 401041478 655147902 755028782 0 0 0 0 34363425 26390189 1263197387 1341412954 1096654 1058861 0 0 0 0 1923259 1788052 0 0 0 0 0 0 0 0 34952221 50562134 37972134 53409047 X 20855633 32611422 293972317 306670407 910397303 948722078 1225225253 1288003907 1263197387 1341412954 15239362 47539292 X false true X true false X 118926479 92963643 182944883 167710694 145041131 707586830 0 0 118926479 92963643 182944883 167710694 145041131 707586830 129107934 578478896 5197325 4642341 2511062 2999404 2446679 17796811 717082 37920968 38638050 44579 44470 265264 45557 39824 439694 764461385 14055324 0.75671 0.72745 X Sch A Part II Line 10 Other income includes fees for various services and other miscellaneous income. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 910099589 38146182 46070717 9919724 24488374 11186312 948722078 807114751 68511427 75493805 9349124 21388485 10282785 910099589 604384257 85731410 152520208 9016156 16653833 9851135 807114751 611338724 36833992 -9515406 8605587 15822457 9845009 604384257 600080753 26564680 17487120 8181929 14594692 10017208 611338724 1.00000 true false 9218526 960000 10178526 4561418 1997418 2564000 1625597 1479093 146504 12889030 EQUITY 360011844 F HEDGE FUNDS 212534282 F PRIVATE EQUITY 136840811 F NATURAL RESOURCES/COMMODITIES 32243186 F REAL ESTATE 13398659 F 755028782 0 SPLIT INTEREST AGREEMENT OBLIG 20391443 DUE TO RELATED ORGANIZATIONS 27962802 TRUST LIABILITY DUE TO OTHERS 1551864 OTHER LONG TERM LIABILITIES 656025 50562134 X Sch D 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 college program support, student financial aid, faculty and staff support, research, building, equipment and maintenance, as well as other uses. Sch D Part X Line 2 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. Central America and the Caribbean Investments 138662734 Europe (Including Iceland and Greenland) Investments 29906970 East Asia and the Pacific Investments 911806 169481510 169481510 true false true true true false Sch F Part IV Line 4 THE IOWA STATE UNIVERSITY FOUNDATION IS AN INDIRECT SHAREHOLDER IN VARIOUS PASSIVE FOREIGN INVESTMENT COMPANIES THROUGH ITS PARTNERSHIP INVESTMENTS. HOWEVER, BASED ON THE RULES OF FILING THE FORM 8621, NO FORM IS REQUIRED. true Iowa State University Beardshear Hall Ames IA 50011 426004224 115 118084393 560352 FMV See Part IV See Part IV ISU Facilities Corporation 2505 University Boulevard Ames IA 500102230 474757561 501(c)(3) 11754 0 FMV Legal Fees 2 Sch I 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 the 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. Sch I Part II Line 1(g) & 1(h) Name of the organization or government: Iowa State University (g) Description of Non-Cash Assistance: Publicly traded securities, books, art and other non-cash gifts (h) Purpose of Grant or Assistance: Grants are provided to Iowa State University in the form of 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). X X true true X X X X false false false false false false false false false Larissa Holtmyer Jones President and CEO 354508 0 0 0 11425 0 27500 0 17319 0 410752 0 0 0 Lisa Eslinger Chief Financial/Admin Officer 251692 0 0 0 2569 0 25483 0 10002 0 289746 0 0 0 Steve Biever VP for Development 210927 0 0 0 1257 0 21327 0 17259 0 250770 0 0 0 Jeremy Galvin VP for Development 211288 0 0 0 1172 0 21327 0 16751 0 250538 0 0 0 Jenni Cushman Sr Exec Dir of Development 150455 0 0 0 1058 0 13865 0 11174 0 176552 0 0 0 Rosa Unal Assoc VP/Chief Info Officer 129207 0 0 0 20232 0 15153 0 17217 0 181809 0 0 0 Michael Wahlin Assistant VP of Investments 133473 0 0 0 1522 0 13558 0 17148 0 165701 0 0 0 Kelly Hanfelt Sr Exec Dir of Development 128127 0 0 0 866 0 13296 0 15027 0 157316 0 0 0 Ryan Harms Exec Dir of Development 122825 0 0 0 1010 0 12415 0 16749 0 152999 0 0 0 Sch J 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. Sch J Part II All employees participate in a retirement plan consisting of a 403(b) defined contribution plan. A Series 2002-See Part VI 426021693 2013-11-01 2538367 REFINANCE SERIES 2002- SEE PART VI false false false A 760315 0 2538367 0 0 0 0 0 0 0 2538567 0 2013 true false true true A 0 A false false true false true false 0 false 0 false true A false SUPPLEMENTAL INFORMATION SCHEDULE K, PART I, LINE 1 COLUMN A CITY OF HUXLEY, IA OFFICE BUILDING REVENUE BONDS (IOWA STATE UNIVERSITY FOUNDATION), SERIES 2002. SCHEDULE K, PART I, LINE 1 COLUMN F REFINANCE SERIES 2002, PREVIOUSLY REFINANCED IN 2010 SCHEDULE K, PART IV, LINE 2B ALL PROCEEDS OF THE ISSUANCE WERE SPENT WITHIN 6 MONTHS OF THE ISSUE DATE. X 7 213851 Opinions of experts X 4 1741 Opinions of experts X 818 Opinions of experts X 166 Cost/Selling price X 1 2830 Fair market value X 175 9204432 Fair market value X 2 212521 Fair market value X 437 3498525 Fair market value X 1 291000 Sale of similar prop X 2 1050 Opinions of experts X Other 68 640344 Replacement costs X Grain 13 47960 Fair market value X Life Insurance Policy 1 1042426 Fair market value 4 false true true Sch M Part I Line 32b The Iowa State University Foundation hires real estate companies or similar organizations to sell any real estate or property. Various stock gifts are sold through stock brokers where the ISU Foundation holds an account. Form 990 Part III Line 1 continued 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. On July 1, 2012, the Iowa State University Foundation launched Forever True, For Iowa State, an eight-year campaign with a goal to raise $1.1 billion, which supports the University's vision to make Iowa State the premier land-grant university for the 21st Century. Campaign priorities include funding for research, faculty, student scholarship, new facilities and innovative programming, among others. Funds raised during this campaign have the potential to truly transform the university. As of October 2018, the campaign goal of $1.1 billion was surpassed and the campaign was extended to June 30, 2021 with a new goal of $1.5 billion. As of June 30, 2019, campaign support has surpassed $1.2 billion. Form 990 Part VI Line 4 The Sixth Amended and Restated Bylaws were adopted by Iowa State University Foundation on April 26, 2019. The adopted bylaws included the following changes: 1) Increased the number of the board of directors to up to twenty directors. Prior to April 26, 2019, the bylaws allowed up to nineteen directors. The adopted bylaws state, "The affairs of this Corporation shall be conducted by a board of directors composed of up to twenty (20) directors allocated among the following four classes of directors." 2) Added one committee chair to Class B directors. Prior to April 26, 2019, Class B directors were made up of chairs of four committees. The adopted bylaws state, "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 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." 3) The secretary of the board now serves as the chair of the newly created Governor Membership Committee. Prior to April 26, 2019, there was no Governor Membership Committee. The adopted bylaws state, "The secretary shall take and preserve the minutes of all meetings of the members and the board of directors, shall serve as chair of the Governor Membership Committee, and shall perform such other duties as the board of directors may direct." "The Governor Membership Committee shall assist the board of directors by nominating members of the Corporation and assisting staff to develop and deliver educational content to the Corporation's membership. The chair of the Governor Membership Committee shall be the individual then-serving as secretary of the board of directors. The remaining membership of the Governor Membership Committee shall be recommended by the president and approved by the board of directors." 4) The vice chair of the board now serves as the chair of the newly created Staff Talent Committee. Prior to April 26, 2019, there was no Staff Talent Committee. The adopted bylaws state, "The Staff Talent Committee shall assist the board with responsibilities related to talent management and serve as the Corporation's compensation committee. The chair of the Staff Talent Committee shall be the individual then-serving as vice chair of the board of directors. The remaining membership of the Staff Talent Committee shall be comprised of then-serving directors of the Corporation recommended by the chair of the board and approved by the board of directors." Staff Talent Committee shall be comprised of then-serving directors of the Corporation recommended by the chair of the board and approved by the board of directors." Form 990 Part VI Line 6 As of the effective date of the Amended and Restated Bylaws, the Corporation 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 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 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 Line 11b The information for Form 990 is prepared and compiled by the finance staff of the Iowa State University Foundation and provided to KPMG LLP. After inputting the data into their tax software, an initial draft of the Form 990 is provided to the Foundation for review by the Controller and the Chief Financial and Administrative Officer. After incorporating any changes and completing their review, KPMG 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 electronically filed with the IRS by KPMG. Form 990 Part VI Line 12c The Iowa State University 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 the 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. Completed disclosure forms are retained in the Foundation's permanent file. Form 990 Part VI Line 15a Any change to compensation for the President of the Iowa State University Foundation is authorized by the executive committee of the Board of Directors, acting as the entity's compensation committee. The President's compensation is determined by the executive 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 the Foundation, who is also advised by Board members in regards to qualification standards. Compensation information for the President is shared with the Board of Directors. Form 990 Part VI Line 16b Because of its participation in various investments that require the execution of limited partnership agreements (see Schedule D, Part VII), the ISU Foundation answers "yes" to Line 16a. However, as Line 16b relates to a true joint venture arrangement whereby the organization negotiates with other members of the venture (in contrast to the Foundation's passive investment approach), this line is answered "no." Form 990 Part VI 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 V Line 7h The Foundation received a donation of a boat from an estate corpus during the tax year. Since no income tax charitable contribution deduction could be taken by the estate, with respect to the gift, the Foundation did not file a Form 1098-C. Foundation Properties LLC 2505 University Boulevard Ames IA 500102230 421143702 Real Estate IA 291000 291000 ISUF Forestry Camp LLC 2505 University Boulevard Ames IA 500102230 421143702 Real Estate IA 0 3100000 ISUF Foundation Ventures LLC 2505 University Boulevard Ames IA 500102230 421143702 Investment IA 0 0 ISUF The Original University Foundation 2505 University Boulevard Ames IA 500102230 420861651 Support IA 501(c)3 L12 Type 1 ISUF true Iowa State University Achievement Fund 2505 University Boulevard Ames IA 500102230 426059969 Support IA 501(c)3 L12 Type 1 ISUF true ISU Facilities Corporation 2505 University Boulevard Ames IA 500102230 474757561 Bond Issuance IA 501(c)3 L12 Type 1 ISUF true Charitable Remainder Trusts (61) 2505 University Boulevard Ames IA 500102230 Trust IA NA Trust false false true false false false false false false false false false false false false false false false false true Sch 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 construction 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 financial statement purposes, the ISU Facilities Corporation activity is reported in Iowa State University's financial statements.