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| Iowa College Foundation Profile The Iowa College Foundation (ICF) was founded in September 1952, with able assistance from the business community in Iowa. MISSION The primary purpose of ICF is to provide students the opportunity for a high-quality education by securing financial resources for our member private colleges and universities. LEGAL STATUS ICF was chartered by the State of Iowa as a nonprofit corporation. As a 501(c)3 tax-exempt organization, no payment of federal and state taxes is required. All contributions to ICF are tax-deductible up to the limits prescribed by law – Tax ID #420745995. MEMBERSHIP ICF’s 25 member colleges and universities are accredited by the North Central Association, have autonomous boards of control and derive their income primarily from private sources. BOARD OF GOVERNORS The Board of Governors of ICF is comprised of the presidents of its 25 member institutions and up to 35 corporate leaders from across the state. FUNDS DISTRIBUTION Funds are distributed semiannually in December and June.
OPERATING BUDGET The budget for ICF is submitted annually to the Board of Governors and, upon approval, is underwritten through assessments by the member colleges. The books are audited annually by the accounting firm of Denman and Company. SOLICITATION OF FUNDS The presidents of member colleges, their development staffs, ICF board members and volunteers from business and industry present the united appeal of ICF each year. NATIONAL AFFILIATION The Iowa College Foundation is one of 36 state and regional associations that are represented at the national level by the Foundation for Independent Higher Education (FIHE) in Washington, D.C. The 36 associations represent 667 independent colleges and universities in the United States. STAFF
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