University of Iowa

UI Foundation

The UI Foundation is a nonprofit IRC Sec. 501(c)(3) organization that is independent from the UI.  Therefore, the UI Foundation has it’s own policies regarding the confidential nature of their data which can be different from the UI (as a public institution).  Financial stewards with access to this data should be knowledgeable of the UIF Policy on Safeguarding data.

  • UI Financial Staff Responsibilities:
    • Ensure units encourage donor's to direct their gifts to the UI Foundation.  For those gifts received directly by the University, ensure they are deposited into appropriate gift accounts and applicable donor information is forwarded to Grant Accounting.  (UI Financial Sub Certification Question #12)
    • Routinely review UIF Financial Reports to monitor cash position, invest/divest funds when appropriate and determine which pool to invest.  
    • Verify funds are being used in accordance with the funds' purpose/donor intent.
    • Routinely review UIF account representatives.  A listing for your units can be provided by requesting it directly from UIF by contacting the Financial Accounting Department.  To change an account representative, a UI Foundation Account Representative Form should be completed.
  • Key Terms:
    • Permanently Endowed – Donor gifts that the donor has instructed the UI Foundation to invest and only the payout may be spent.
    • Non-Endowed – Donor gifts that may either be spent or invested.
    • Donor Intent Document (DID) – Document that provides a summary of how the donors designated the funds to be spent.
    • Do Not Invade (DNI) Accounts – Donors of accounts with DNI status have instructed the UI Foundation that payout should be suspended if the market value of the fund drops below the historic (initial) gift value.  When this occurs, payout will cease until the market value improves to the original gift value.
  • Other Resources:
    • University of Iowa Foundation Joint Development Committee - This website contains important information for Collegiate Budget Officers regarding named gift recognition guidelines and approval processes.
    • UIF Financial Resources:
      • UIF Donor Intent Policy  - policies and procedures of the foundation to ensure donor expressions of gift intent and donor expressions of asset restrictions.
      • Account Financial Summary Definitions – a guide to explain the categories reported within the Account Financial Summary Report within IFAS.
      • Account Synopsis Definitions - a guide to explain the categories and terminology used within the Account Synopsis data.
      • IFAS Account “Use Codes”  - Use codes explain how the donor has designated the funds must be spent.  Examples include:  Professorships, Equipment, Research, Undesignated, etc.
      • Object Codes – Object codes are used on the Payment Authorization form to label how the funds were spent.  Object codes are similar to the UI MFK “institutional account”.
      • UIF Management Policies and Procedures on Third Party Events - Contact UIF Financial Accounting Department regarding this policy if a third party plans to hold an event for the benefit of the University and direct the resulting donations to the Foundation.  
    • UI Gift Guidelines & FAQ's - Information about tracking gifts, managing balances, setting up UI Gift accounts, etc.  For more information, refer to the "Gift Funds" portion of the "Sources of Funds" section of this manual.