University of Iowa Research Park Corporation

Nonprofit profile at a glance

EIN
421333324
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Coralville, IA, USA
Phone
3193842741
Rating
43
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$387,410
Expenses
$241,018
Assets
$5,035,173
Liabilities
$1,907,605

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • DARSEE JON (PRESIDENT)
  • KERBESHIAN MARIE (VICE PRESIDENT)

Highest reported compensation

  • KREGEL KEVIN (DIRECTOR): $638,455 total reported compensation
  • SCHOLTZ JOHN (FORMER OFFICER): $464,393 total reported compensation
  • JOHNSON TERRY (TREASURER): $426,474 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The university of Iowa research park corporation is organized for the exclusive purpose of building a robust ecosystem of technology-related entities for the purpose of attracting talent, expanding research, enhancing the reputation of the university of Iowa, and contributing to the economy of the state of Iowa. Uirpc will hold title when appropriate, dispose of real and personal property of all kinds, including leasehold interests therein, collecting the income therefrom.

What it reported doing in 2024

Uirpc operates a research park and is an affiliated organization of the university of Iowa. Uirpc owns and manages land and building sites that are leased to companies seeking sustained research relationships with the university of Iowa.beginning in august 2024, a deed change was recorded transferring control of the land to uirpc, and the organization no longer operates under a master ground lease with the state of Iowa.in the year ended june 30, 2025, uirpc managed thirteen land leases. Income from these leases totaled $213,984, while operating expenses totaled $241,018. Fourteen of a total of twentyseven lots remain available to be leased.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 20
  • Transparency & Controls: 65
  • Accountability: 56
  • Sustainability: 70
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 16.5%; rating input score 17
  • Program expense ratio: 31.2%; rating input score 31
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 15th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 37.8%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 20.89; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 167.1%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.8% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 16.5% of revenue deployed · 31.2% of spending went to programs
  • Governance: 3 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $75K in reported program spending
  • Leadership: top reported pay $638K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 8 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 17/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 31/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.