The primary purpose of the Iowa College Foundation (ICF) is to provide students the opportunity for an affordable, high-quality education by securing financial resources for our member private colleges and universities.
The Iowa College Foundation (ICF) was chartered by the State of lowa as a non-profit 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 #: 42-0745995.
ICF’s 23 member colleges and universities are liberal arts schools that are accredited by the Higher Learning Commission, have autonomous boards of control and derive their income primarily from private sources.
Board of Governors
ICF’s Board of Governors is composed of up to 35 corporate leaders across the state as well as the presidents from its 23 member institutions.
Funds are distributed semi-annually in December and June.
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 to approximately 1,000 companies most of which are located in Iowa.
The lowa College Foundation is one of 28 state and regional associations that are represented at the national level by the Council of Independent Colleges (CIC) in Washington, D.C. The 28 associations represent nearly 600 independent colleges and universities in the United States.