Civic Intelligence

Upper Iowa University

990 • Fiscal year 2024 • EIN 42-0680372

Jul 01, 2023 to Jun 30, 2024 • Filed on Feb 27, 2025

PO Box 1857Fayette, IA 52142

(563) 425-5868

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

82nd percentile

0.77x

Higher debt load relative to assets than 82% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

81st percentile

1.77x

Higher debt load relative to revenue than 81% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

19th percentile

-6.6%

Higher net margin than 19% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

34th percentile

$361,280

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

28th percentile

1.8%

Faster asset growth than 28% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

13th percentile

-10%

Faster revenue growth than 13% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$110,702,954

Up $1,944,175 (+1.8%) from 2023

Net Assets

Down

$24,928,672

Down $436,014 (-1.7%) from 2023

Liabilities

Up

$85,774,282

Up $2,380,189 (+2.9%) from 2023

Revenue

Down

$48,439,105

Down $5,433,303 (-10%) from 2023

Expenses

Down

$51,639,881

Down $12,026,243 (-19%) from 2023

Net Income

Up

-$3,200,776

Up $6,592,940 (+67%) from 2023

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2011: $101,166,948Liabilities 2011: $50,241,978Net Assets 2011: $50,924,9702011Assets 2012: $120,902,704Liabilities 2012: $58,192,254Net Assets 2012: $62,710,4502012Assets 2013: $132,822,879Liabilities 2013: $77,534,053Net Assets 2013: $55,288,8262013Assets 2014: $131,934,478Liabilities 2014: $77,007,214Net Assets 2014: $54,927,2642014Assets 2015: $136,319,704Liabilities 2015: $78,516,466Net Assets 2015: $57,803,2382015Assets 2016: $135,359,400Liabilities 2016: $77,520,342Net Assets 2016: $57,839,0582016Assets 2017: $126,047,403Liabilities 2017: $79,344,450Net Assets 2017: $46,702,9532017Assets 2018: $124,013,890Liabilities 2018: $78,242,380Net Assets 2018: $45,771,5102018Assets 2019: $121,095,876Liabilities 2019: $78,558,201Net Assets 2019: $42,537,6752019Assets 2020: $114,220,726Liabilities 2020: $75,684,269Net Assets 2020: $38,536,4572020Assets 2021: $117,313,002Liabilities 2021: $73,581,248Net Assets 2021: $43,731,7542021Assets 2022: $112,257,129Liabilities 2022: $76,822,982Net Assets 2022: $35,434,1472022Assets 2023: $108,758,779Liabilities 2023: $83,394,093Net Assets 2023: $25,364,6862023Assets 2024: $110,702,954Liabilities 2024: $85,774,282Net Assets 2024: $24,928,6722024Assets 2025: $105,804,386Liabilities 2025: $81,791,201Net Assets 2025: $24,013,1852025

Highlighted filing

2024

Assets$110,702,954
Liabilities$85,774,282
Net Assets$24,928,672

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100M$50M$0-$50MExpenses 2011: $72,442,2552011Expenses 2012: $63,882,3932012Expenses 2013: $69,895,7532013Revenue 2014: $68,572,391Expenses 2014: $69,018,234Net Income 2014: -$445,8432014Revenue 2015: $76,273,426Expenses 2015: $73,128,023Net Income 2015: $3,145,4032015Revenue 2016: $73,505,221Expenses 2016: $72,976,928Net Income 2016: $528,2932016Revenue 2017: $56,593,818Expenses 2017: $69,798,385Net Income 2017: -$13,204,5672017Revenue 2018: $67,898,657Expenses 2018: $70,300,155Net Income 2018: -$2,401,4982018Revenue 2019: $68,550,659Expenses 2019: $70,721,590Net Income 2019: -$2,170,9312019Revenue 2020: $66,646,644Expenses 2020: $70,994,941Net Income 2020: -$4,348,2972020Revenue 2021: $64,089,593Expenses 2021: $65,279,904Net Income 2021: -$1,190,3112021Revenue 2022: $60,335,921Expenses 2022: $64,641,587Net Income 2022: -$4,305,6662022Revenue 2023: $53,872,408Expenses 2023: $63,666,124Net Income 2023: -$9,793,7162023Revenue 2024: $48,439,105Expenses 2024: $51,639,881Net Income 2024: -$3,200,7762024Revenue 2025: $49,001,254Expenses 2025: $52,478,722Net Income 2025: -$3,477,4682025

Highlighted filing

2024

Revenue$48,439,105
Expenses$51,639,881
Net Income-$3,200,776
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 27, 2025
Return Version
2023v6.0
Gross Receipts
$50,008,165
Mission and Program Overview

Mission

Upper iowa university provides quality educational opportunities accessible through varied delivery methods to inspire success and empower lives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$69,386,114$66,816,174▼ $2,569,940
Investments in Publicly Traded Securities$17,991,869$19,075,853▲ $1,083,984
Cash and Non-Interest-Bearing Accounts$4,775,544$7,327,819▲ $2,552,275
Accounts Receivable$2,750,899$2,606,119▼ $144,780
Investments Other Securities$2,324,653$2,435,403▲ $110,750
Pledges and Grants Receivable$1,445,384$2,051,022▲ $605,638
Savings and Temporary Cash Investments$1,019,173$1,139,333▲ $120,160
Prepaid Expenses and Deferred Charges$854,749$1,037,304▲ $182,555
Inventories for Sale or Use$97,374$123,326▲ $25,952
Other Notes and Loans Receivable, Net$12,366$0▼ $12,366
Total Assets$108,758,779$110,702,954▲ $1,944,175
Other Assets Total$8,100,654$8,090,601▼ $10,053
Liabilities
Mortgage Notes Payable Secured by Investment Property$72,698,981$74,193,554▲ $1,494,573
Other Liabilities$7,947,936$9,301,149▲ $1,353,213
Accounts Payable and Accrued Expenses$2,747,176$2,279,579▼ $467,597
Total Liabilities$83,394,093$85,774,282▲ $2,380,189
Net Assets / Fund Balance
Net Assets With Donor Restrictions$16,852,618$19,103,662▲ $2,251,044
Net Assets Without Donor Restrictions$8,512,068$5,825,010▼ $2,687,058
Total Net Assets Fund Balance$25,364,686$24,928,672▼ $436,014
Total Liabilities and Net Assets / Fund Balance$108,758,779$110,702,954▲ $1,944,175

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$61,427,679$37,556,538$98,984,217
Equipment$784,023$11,977,672$12,761,695
Leasehold Improvements$1,738,580$7,400,143$9,138,723
Other Land Buildings$923,258$2,493,344$3,416,602
Land$1,942,634-$1,942,634
Other Assets Org$2,353,514--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$20,437,639$229,649▲ $2,149,469$1,008,608$21,808,149
2022$19,769,502$231,656▲ $1,463,734$1,027,253$20,437,639
2021$22,682,523$384,297▼ $2,383,244$914,074$19,769,502
2020$18,160,597$333,771▲ $5,077,109$888,954$22,682,523
2019$18,815,807$371,495▲ $291,367$1,318,072$18,160,597
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
William R Duffy IiPresident (outgoing)FT$334,940$26,340$361,280
Kathy FrankenPresident and CFOFT$205,853$37,339$243,192
Doug BinsfeldVP Academic Affairs & Student LifeFT$176,457$17,782$194,239
Andrew WentheVP of External AffairsFT$142,785$16,600$159,385
Rick HartzellVP of AthleticsFT$114,740$32,433$147,173
Jennifer WebbVP Distance Ed. EnrollmentFT$103,087$32,202$135,289
Billie CowleyDean, Academic & Ed. AffairsFT$109,402$21,259$130,661

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Aramark Services INCFood Service27310 NETWORK PLACE, Chicago, IL 60673$2,015,771
Local Iqgannett IowaAdvertising400 LOCUST STREET STE 500, Des Moines, IA 50309$1,246,523
Mbs Direct LLCBookstorePO BOX 617, Columbia, MO 65205$629,489
ExperianErc CommissionPO BOX 841971, Los Angeles, CA 90084$512,159
Beau Pere Real EstateRent Payments833 E MICHIGAN STREET STE 500, Milwaukee, WI 53202$510,910
Revenue and Support

Revenue Composition

Contributions and Grants
$6,308,937
Program Service Revenue
$40,825,896
Investment Income
$27,458
Other Revenue
$1,276,814
All Other Contributions
$5,709,897
Change in Net Assets
$-3,200,776

Audited Revenue Reconciliation

Revenue per Audited Statements
$38,090,003
Revenue Not Reported on Financial Statements
$10,349,102
Revenue Not Reported on Form 990
$2,831,194
Other Revenue Adjustments
$10,264,169
Total Revenue per Audited Statements
$40,921,197
Total Revenue per Form 990
$48,439,105
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$21,141,827
Other Expenses$20,184,258
Grants and Similar Amounts Paid$10,305,221
Total Fundraising Expense$1,616,247
Professional Fundraising Fees$8,575

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,325,114$3,141,172$984,723$16,451,009
Grants to Domestic Individuals$10,305,221--$10,305,221
Office Expenses$3,807,052$465,521$28,020$4,300,593
Other Employee Benefits$1,864,854$977,874$122,448$2,965,176
Depreciation Depletion$2,854,668--$2,854,668
Advertising$422,664$2,055,220$53,322$2,531,206
Occupancy$1,547,304$723,097-$2,270,401
Interest$2,069,673--$2,069,673
Fees for Services Other$842,850$691,931$162,415$1,697,196
Information Technology-$1,526,794-$1,526,794
Payroll Taxes$908,436$242,568$52,160$1,203,164
Travel$898,893$41,269$32,372$972,534
Insurance$527,279--$527,279
Other Expenses$313,999$500,661$151,431$313,999
Current Officers, Directors, Trustees, and Key Employees-$265,392-$265,392
Pension Plan Contributions$174,258$63,163$19,665$257,086
Fees for Services Accounting-$135,328-$135,328
Conferences and Meetings$94,440$19,823$1,116$115,379
Fees for Service Investment Mgmnt Fees-$84,933-$84,933
Fees for Services Legal-$49,101-$49,101
Fees for Services Professional Fundraising--$8,575$8,575
Total Functional Expenses$39,039,787$10,983,847$1,616,247$51,639,881

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$51,639,881
Total Expenses per Audited Statements$41,357,211
Expenses per Audited Statements$41,290,779
Expenses Not Reported on Financial Statements$10,349,102
Other Expense Adjustments$10,264,169
Expenses Not Reported on Form 990$66,432
International Activity

International Summary

Offices
0
Employees
0
Spending
$168,650

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$168,650
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$37,908
Fundraising Gross Income$23,931
Professional Fundraising Fees$8,575

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Peacock Golf Classic$17,161$17,161$13,974$3,187
PRESIDENT'S BALL$146,190$6,770$4,229$2,541
Total Events$163,351$23,931$37,908$-13,977
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Grant$5,231,308
Lease Payable$2,331,876
Post Retirement Benefit Payable$960,977
Student Deposits and Deferred Tuition$776,988
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

The executive committee consists of the officers of the board of trustees and the president of the university. The executive committee has the power to act for the board of trustees between its sessions, on issues consistent with prior board approval. The executive committee may not take any action inconsistent with a prior act of the board of trustees, award degrees, alter bylaws, or locate permanent buildings on tax-exempt property held for university purposes, remove or appoint the president of the university, or take any action that has been reserved for the board, unless specifically empowered by the board of trustees to do so.

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by the outside public accounting firm based on information provided by management. The cfo and the controller review the final draft of the form 990 and supporting schedules. The board reviews the form 990 before filing with the irs.

Form 990, Part VI, Section B, Line 12C

Trustees or officers of upper iowa university will disclose to the board any existing or potential conflicts of interest. With respect to specific transactions involving such an interest, the disclosure will be made at the earliest possible time and annually after that. Trustees or officers will not vote on, nor participate in discussing, any matter in which they have a conflict of interest, except to provide information. Trustees or officers who are uncertain about a possible conflict of interest may request that the board of trustees determine whether a conflict exists. The governance committee gathers and reviews the annual disclosure forms and deals with the information appropriately as necessary.

Form 990, Part VI, Section B, Line 15A

The presidential evaluation committee consists of independent members of the board of trustees. The evaluation shall include but not be limited to the following: assessment of the completion of the goals set for the current year, and setting new goals for the following year (goals should include specific items such as enrollment projections on and off campus, amount of income projected, and raises). The presidential evaluation committee met to review goals, deliverables for the overall university as president, and market data for the position. The evaluation committee met with the president to determine goals, and discussed the process and recommendation with the full board of trustees. Kathy franken was named interm president in may of 2023. This is going to be for all of fiscal year 2024. In the fall of 2024 a presidental search is being planned. The president negotiates contracts and sets compensation for other officers and key employees.

Form 990, Part VI, Section C, Line 19

The university's website has an "about uiu" link that provides the public with information regarding our mission, vision, strategic plan, and other news and informational items. The university does not post the governing documents, conflict of interest policy, or financial statements on the public website.

Filing and Contact Details

Filer

Filer Name
Upper Iowa University
EIN
42-0680372
Phone
5634255868
Address
PO BOX 1857, FAYETTE, IA 52142

Signing Officer

Name
Kathy Franken
Title
President and CFO
Phone
5634255868
Signed
2025-02-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathy Franken
Formed
1857
Legal Domicile
Ia
Voting Board Members
19
Independent Board Members
19
Employees
1,037
Volunteers
19

Preparer

Firm
Baker Tilly Advisory Group Lp
Address
225 S 6TH ST 2300, MINNEAPOLIS, MN 55402
Preparer
Karen a Gries
Phone
6128764500
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in beneficial interest in trusts held by others 530,360.

Financial Statement Notes

PART III, LINE 4:

The university's artwork consists of various sculptures located throughout the campus to beautify the campus and highlight the university's diversity.

PART IV, LINE 2B:

The university is a custodian of bank accounts for various student groups.

PART V, LINE 4:

The university spends the distributions from our unrestricted endowment funds for operations and for the restricted purpose for all restricted endowment funds. The restricted endowment funds are primarily restricted for student scholarships, but also include small funds for equipment, professorships, library books, and athletics. The distribution is determined by the spend policy and approved by the board.

PART X, LINE 2:

The internal revenue service has determined that the university is exempt from federal income tax under section 501(c)(3) of the internal revenue code. Accordingly, the university is not subject to federal income taxes except to the extent it derives income from certain activities not substantially related to its tax-exempt purposes (unrelated business activities). The university is also exempt from state income taxes. The foreign subsidiaries are taxable entities in the countries they are located. Accrued tax payable and income tax expense are related to the foreign subsidiaries. The university follows the accounting standards for contingencies in evaluating uncertain tax positions. This guidance prescribes recognition threshold principles for the financial statement recognition of tax positions taken or expected to be taken on a tax return that are not certain to be realized. No liability has been recognized by the university for uncertain tax positions as of june 30, 2024 and 2023. The university's tax returns are subject to review and examination by federal and state authorities.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in beneficial interest in trusts held by others 530,360. Direct rental expenses 28,524. Direct fundraising expenses 37,908.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Scholarships, tuitions and grants 10,264,169.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Direct fundraising expenses 37,908. Direct rental expenses 28,524.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Scholarships, tuitions and grants 10,264,169.

Raw XML AppendixShowing 400 of 997 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0EDUCATION, INSTRUCTION, AND SUPPORT - UPPER IOWA UNIVERSITY SERVED 6,292 STUDENTS WORLDWIDE. THE FAYETTE CAMPUS SERVED 548 TRADITIONAL UNDERGRADUATE STUDENTS, DRAWING THE MAJORITY OF THESE STUDENTS FROM IOWA, MINNESOTA, WISCONSIN AND ILLINOIS. THE UNIVERSITY IS DIVERSE IN ITS ETHNICITY, RACE, GENDER, ECONOMICS, AND GEOGRAPHY. UNDERGRADUATE DEGREES ARE OFFERED THROUGH THE DEPARTMENT OF EDUCATION, DEPARTMENT OF BUSINESS, AND DEPARTMENT OF ARTS AND SCIENCES. UPPER IOWA UNIVERSITY OFFERS SEVERAL MASTER'S DEGREES, BOTH ONLINE AND FACE-TO-FACE. MASTER'S DEGREES ARE AVAILABLE IN EDUCATION, BUSINESS ADMINISTRATION, HEALTHCARE ADMINISTRATION, COUNSELING, SPORT ADMINISTRATION, AND PUBLIC ADMINISTRATION. POST-GRADUATE CERTIFICATES ALSO ARE AVAILABLE IN ACCOUNTING, CORPORATE FINANCIAL MANAGEMENT, HUMAN RESOURCE MANAGEMENT, LITERACY COACH, TEACHER LEADERSHIP AND ORGANIZATIONAL DEVELOPMENT.
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IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19PRESIDENT (OUTGOING)
IRS990/Form990PartVIISectionAGrp/TitleTxt20PRESIDENT AND CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt21VP ACADEMIC AFFAIRS & STUDENT LIFE
IRS990/Form990PartVIISectionAGrp/TitleTxt22VP OF EXTERNAL AFFAIRS
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP OF ATHLETICS
IRS990/Form990PartVIISectionAGrp/TitleTxt24VP DISTANCE ED. ENROLLMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt25DEAN, ACADEMIC & ED. AFFAIRS
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IRS990/NetUnrelatedBusTxblIncmAmt00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$106$81.8$24.0$49.0$52.5$3.48
2024Detailed filing. Detailed filing data is available for this year.$111$85.8$24.9$48.4$51.6$3.20
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$109$83.4$25.4$53.9$63.7$9.79
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$112$76.8$35.4$60.3$64.6$4.31
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$117$73.6$43.7$64.1$65.3$1.19
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$114$75.7$38.5$66.6$71.0$4.35
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$121$78.6$42.5$68.6$70.7$2.17
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$124$78.2$45.8$67.9$70.3$2.40
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$126$79.3$46.7$56.6$69.8$13.2
2016Detailed filing. Detailed filing data is available for this year.$135$77.5$57.8$73.5$73.0$0.53
2015Detailed filing. Detailed filing data is available for this year.$136$78.5$57.8$76.3$73.1$3.15
2014Detailed filing. Detailed filing data is available for this year.$132$77.0$54.9$68.6$69.0$0.45
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$133$77.5$55.3$69.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$121$58.2$62.7$63.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$101$50.2$50.9$72.4