Iowa College Foundation

Analysis

Iowa College Foundation is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in July 1953, 73 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Iowa College Foundation reported income of $1.9m and spending of $2.0m, spending 105% of its income. Across the 6 years on record, from June 2019 to June 2024, income fell from $2.3m to $1.9m (-19%), an average of -4.1% a year. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Iowa College Foundation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within IA. Charities of a similar size with the same main cause include Lacreche Early Childhood Centers Inc ($1.9m), Reg Lenna Center for the Arts Inc ($1.9m) and Boy Scouts of America ($1.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 50% and program service revenue 35% of the total. Other salaries and wages came to $160k. At year end it held assets of $8.2m against liabilities of $106k, net assets of $8.1m. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.