2014-02-11T12:06:18-06:00 2013-06-30 KPMG LLP 1212 North 96th Street Suite 300 Omaha NE 68114 990 2012-07-01 421143702 IOWA STATE UNIVERSITY FOUNDATION % Lisa Eslinger IOWA 5152944607 2505 University Boulevard PO Box 2 Suite Ames IA 500102230 Lisa M Eslinger 8664196768 2014-02-10 true 4023481450 2012 2016-02-25 16:41:14Z X Roger Neuhaus 2505 University Boulevard Ames IA 500102230 449910875 false X www.foundation.iastate.edu X 1980 IA To secure & steward private gifts that support Iowa State University. 17 17 583 150 1831694 75612 63072544 59012859 0 0 9516505 9884676 2133626 3084694 74722675 71982229 50275224 69784717 0 0 10259520 9634895 0 0 9734587 5137611 8749934 65672355 88169546 9050320 -16187317 736222826 787927332 33956028 36855151 702266798 751072181 X Iowa State University Foundation's mission is to inspire philanthropy to advance Iowa State University's mission to "Create, share, and apply knowledge to make Iowa and the world a better place." 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. With the leadership and vision of Iowa State University President Steven Leath, the University and Foundation work closely together to achieve these results. The Foundation raised nearly $113 million in new gifts and commitments for the year ending on June 30 false false 20530256 20530256 833917 Student Support: Iowa State undergraduate and graduate students received more than $20 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. With the University seeing record enrollment numbers, 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 2013, more than 5,000 students received scholarships funded by private gift support. 25514572 25514572 1036375 Faculty and Programmatic Support: With more than $25 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 2013, the number of endowed faculty positions (chairs, professorships and fellowships) increased to 168. 22891029 22891029 929810 Facilities: The Foundation provided nearly $23 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 renovations to Curtiss Hall and new construction such as the Jeff & Deb Hansen Agriculture Student Learning Center, Troxel Hall, the Biorenewables Complex, and more. 848860 848860 NONCASH GRANTS 1639526 ANNUITY PAYMENT AND ACTUARIAL VALUATION 2488386 848860 71424243 true true false false false false false false false true true true false false true true false true false false false false false false false false false true false true false false false false false false false false true true false false false true true false false false true X 101 0 true 583 true true true true CJ VI false false false true true true 1 false false true false X 17 17 false false false 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 1.0 0.0 X STEPHEN WATSON 1.0 0.0 X Lloyd Bettis 2.0 0.0 X X Michael Dubes 1.0 0.0 X Jon Fleming 1.0 0.0 X Marla Franklin 5.0 0.0 X X James Frein 1.0 0.0 X Rudolf Herrmann 1.0 0.0 X Barbara Janson 1.0 0.0 X Daniel Krieger 1.0 0.0 X Steven Leath 1.0 0.0 X Frankee Oleson 1.0 0.0 X Leonard Rodman 2.0 0.0 X X Steven Schuler 2.0 0.0 X X Gary Streit 1.0 0.0 X Roger Underwood 1.0 0.0 X SHARON JUON 1.0 0.0 X Labh Hira 40.0 0.0 X 244050 0 29028 Roger Neuhaus 40.0 0.0 X Lisa Eslinger 40.0 0.0 X 199906 0 33992 Larissa Holtmyer-Jones 40.0 0.0 X 206035 0 37001 Stephen Biever 40.0 0.0 X 133581 0 29198 Jeremy Galvin 40.0 0.0 X 124619 0 28295 John Glover 40.0 0.0 X 112430 21312 Kent Studer 40.0 0.0 X 106583 26506 Paul Caspersen 40.0 0.0 X 109353 26594 Daniel Saftig 0.0 0.0 X 526720 0 339881 1763277 0 571807 12 true true true CAMBRIDGE ASSOCIATES 4100 NORTH FAIRFAX DR SUITE 1300 ARLINGTON VA 222031664 CONSULTING 872956 IT Services University Info Systems 2nd Floor ASB Ames IA 500113601 IT Services 207869 AXIOM INTERNATIONAL INVESTORS LLC 33 BENEDICT PLACE GREENWICH CT 06830 INVESTMENT FEES 194195 TWEEDY BROWNE COMPANY LLC METRO CENTER ONE STATION PLACE STANFORD CT 06902 INVESTMENT FEES 455279 MECHANICAL COMFORT 302 SONDROL AVENUE AMES IA 500109104 FACILITIES 252277 14 59012859 12654470 59012859 0 6389151 1831694 4557457 0 23941 23941 218015 218015 0 218015 218015 381334075 90096 377825831 102815 3508244 -12719 3495525 3495525 0 0 0 Administrative fee 541900 2800102 2800102 Other 611710 42636 42636 2842738 71982229 2800102 1831694 8337574 69784717 69784717 0 0 0 885424 252093 633331 0 6511869 1114157 5397712 572126 67424 504702 1164892 248746 916146 500584 93735 406849 0 66038 57452 8586 153839 153839 0 0 3505874 3505874 473640 237596 236044 38704 38704 836037 402182 433855 438555 61265 377290 0 174460 174460 618501 128935 489566 0 345747 53945 291802 125144 125144 0 222766 222766 89610 89610 MISCELLANEOUS EXPENSES 21493 21493 ANNUITY PAYMENTS 1639526 1639526 88169546 71424243 7010716 9734587 0 0 10443379 1902918 76754816 65479487 0 0 0 0 0 0 1543444 1576455 0 0 0 0 19349600 3590277 13363290 15759323 429324303 479448238 182514392 195041338 0 0 0 0 22279202 28719573 736222826 787927332 1434157 897160 0 0 0 0 2679065 2580521 0 0 0 0 0 0 0 0 29842806 33377470 33956028 36855151 X 17732335 22642323 215458652 208611119 469075811 519818739 702266798 751072181 736222826 787927332 -16187317 64992700 X false true X true false X 76047949 65391531 73091607 63072544 59012859 336616490 0 0 76047949 65391531 73091607 63072544 59012859 336616490 6901339 329715151 13711277 5009524 4475704 3770087 6631107 33597699 75612 75612 16783 33349 55584 94832 42636 243184 370532985 12396196 0.88984 0.86860 X Other income includes fees for various services and other miscellaneous income. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 469075811 14999281 63831528 6634182 12622166 8831534 519818738 477722743 16074634 546940 5995551 11228787 8044168 469075811 399307777 22045531 80454976 5659435 10827993 7598113 477722743 358360551 13533880 50384450 5601400 10685921 6683783 399307777 434432841 20828512 -74977661 5543199 10204649 6175293 358360551 1.00000 true false 12305685 960000 13265685 3300223 1041763 2258460 2783692 2548514 235178 15759323 Hedge Funds 80343780 F Private Equity - Fund of Funds 63534666 F Real Estate - Funds & RE 16808294 F Equity - Alt Investments 23565888 F Natural Resources 10788710 F 195041338 0 Trust Liability Due to Others 1520578 Other Long Term Liabilities 344652 Due to Related Organizations 10955865 Annuities Payable 20556375 33377470 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 COLLEGE PROGRAM SUPPORT, STUDENT FINANCIAL AID, FACULTY AND STAFF SUPPORT, RESEARCH, BUILDING, EQUIPMENT AND MAINTENANCE, AS WELL AS OTHER USES. 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. During 2013 and 2012, management determined that there are no income tax positions requiring recognition in the combined financial statements. true Iowa State University Beardshear Hall Ames IA 50011 426004224 115 68935857 848860 FMV See Attached See attached 1 Part I, Line 2 THE IOWA UNIVERSITY FOUNDATION MONITORS THE USE OF THE GRANT FUNDS THROUGH THE DONOR COMPLIANCE SERVICES DEPARTMENT. ON A MONTHLY BASIS, THE EXPENDITURES ARE REVIEWED AND INTERNAL TESTING OF TRANSACTIONS IS COMPLETED. THE DONOR COMPLIANCE SERVICES DEPARTMENT STRIVES TO MONITOR THE EXPENDITURES AND BALANCES OF THE VARIOUS ACCOUNTS, AS WELL AS DEVELOP STRATEGIES TO ENSURE DONOR COMPLIANCE WITH THE DONOR GIFT AGREEMENTS IN PLACE. Part II, Line 1, Columns (g) and (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 true true false false false false false false false Daniel Saftig 73895 0 0 452825 0 322500 0 17629 0 866849 0 65400 0 Labh Hira 244050 0 0 0 0 0 24405 0 7496 0 275951 0 0 0 Lisa Eslinger 198921 0 0 985 0 20345 0 14559 0 234810 0 0 0 Stephen Biever 133243 0 0 338 0 13523 0 16361 0 163465 0 0 0 Jeremy Galvin 124281 0 0 338 0 12620 0 16323 0 153562 0 0 0 Larissa Holtmyer-Jones 205423 0 0 612 0 21326 0 16603 0 243964 0 0 0 Part I, Line 1a Charter travel was with the use of the University-owned plane. Travel for companions was provided for some fundraising events. These benefits are considered business expenses and therefore are not considered taxable income to the individuals. Part I, line 4a and Part II, Column B(iii) and Column C Daniel Saftig's employment with the Iowa State University Foundation terminated in March 2012. In accordance with a separation agreement, Mr. Saftig receives severance payments over an eighteen month period, paid on a monthly basis beginning in April 2012. Severance payments of $315,000 were paid out to Mr. Saftig in calendar year 2012, included on his 2012 W-2, and reported in Schedule J in Other Reportable Compensation. Additional severance payments of $315,000 will be paid in calendar year 2013 and will be included on his 2013 W-2. These payments are reported in Schedule J in Retirement and Other Deferred Compensation. Part I, line 4b and Part II, Column B(iii), Column F Daniel Saftig participated in two 457(f) deferred compensation plans from July 1, 2009 to March 31, 2012. Annual deferrals to the plans were reported on previous Form 990's as deferred compensation totaling $65,400 and are reported in Schedule J as Compensation Reported in Prior Form 990. In April 2012, deferred compensation of $87,415 (including current year deferrals and investment earnings) was paid out to Mr. Saftig, included on his 2012 W-2, and reported on Schedule J in Other Reportable Compensation. Part II, column (C) All employees participate in a retirement plan consisting of a 403(b) defined contribution plan. Severance payments to be paid to Daniel Saftig in calendar year 2013 are also included (see above). Schedule J, Part II The Iowa State University Foundation retained Dr. Labh Hira to serve as its Interim President effective March 19, 2012 in accordance with a Supplemental Service Agreement between the Foundation, Iowa State University, and the College of Business. Per the agreement, Dr. Hira remained an employee and tenured professor of the College with the Foundation reimbursing the College for his employment costs during the term of the agreement. Dr. Hira is reported on the Form 990 as a current officer as he served in that capacity during the organization's fiscal year ending June 30, 2013. Dr. Hira's term as Interim President ended on December 31, 2012. The Iowa State University Foundation hired Roger Neuhaus as President effective January 23, 2013. No compensation is reported for Mr. Neuhaus, as no reportable compensation was paid by the Foundation during the calendar year 2012. X 3 502 Opinions of experts X 20211 Opinions of experts X 181 Cost/selling price X 1 5300 Fair Market value X 1 5270 Fair market value X 335 5410899 Fair market value X 3 105052 Fair market value X 5 997788 Fair market value X 3 497000 Sale of similar prop X 16 247970 Opinions of experts X 6 1352 Opinions of experts X New Funds Held in Trust 5 4472747 Sale of similar prop X Other 52 835722 Replacement costs X Soybeans 4 54476 Fair market value 5 false true true 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 VI, Section A, line 6 The members of the corporation shall be members as of the effective date of the current Amended and Restated Articles of Incorporation of the ISU Foundation. Upon nomination by the governance committee, additional persons may be elected to serve as a member at any annual or special meeting of the corporation. per the Articles, 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 nineteen directors allocated among four classes of directors. A) Class A directors shall be between 10-12 in number, and shall be appointed from and by the members of the corporation upon nomination by the governance committee. Each Class A director shall serve a term of the greater of four years or until their successor is elected and qualified. Each Class A director may serve up to two (2) terms, which may be consecutive. B) Class B directors shall be no more than four (4) in number, and 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, and (IV) Investment Committee. Class B directors shall serve for the duration of their chairship. C) Class C shall be compromised of one (1) 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) Class D shall be comprised of no more than two (2) additional directors appointed by the BOard of Directors at a regular or special meeting. Class D directors shall serve a term of the greater of the period selected by the Board of Directors upon such appointment or until their successor is elected and qualified. Appointment of Class D directors, if any, shall be within the discretion of the board. Form 990, Part VI, Section A, line 7b Each 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 11 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 Assistant Vice President and Controller and the Senior Vice President of Finance and Operations. 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, Section B, 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 audit committee and are handled on an individual basis. 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 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, and 4) 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 and the Foundation leadership is shared with the Board of Directors. 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 VI, Line 16a & b 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." The Original University Foundation 2505 University Boulevard Ames IA 500102230 420861651 Support IA 501(c)(3) L11 Type 1 ISUF true Iowa State University Achievement Fund 2505 University Boulevard Ames IA 500102230 426059969 Support IA 501(c)(3) L11 Type 1 ISUF true Charitable Remainder Trusts (83) 2505 University Boulevard Ames IA 500102230 Trust IA NA Trust false Charitable Lead Trust (1) 2505 University Boulevard Ames IA 500102230 Trust IA NA TRUST false false false false false false false false false false false false false false false false false false false true 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.