Corporate Structure and Statement of Independence

The State University of Iowa Foundation was formed as an Iowa nonprofit corporation in 1957 and, shortly thereafter, deemed exempt from federal income tax under the provisions of Section 501(c)(3) of the Internal Revenue Code. Our organization is independently governed by a volunteer board of directors and structured legally separate from the University of Iowa. To ensure adequate separateness and governance, our two entities have entered into a Development Services Agreement to define each entity’s role and to outline the relationship. On January 1, 2018, the State University of Iowa Foundation and the State University of Iowa Alumni Association agreed to merge. As part of the merger agreement, the name University of Iowa Center for Advancement was selected as the operational or “fictitious name” to be used in the course of business going forward to reflect the combined mission of the merged organization. The overall corporate structure and nature of our organization as a nonprofit, 501(c)(3) tax-exempt, publicly supported chartable entity was not impacted by the merger.