Financial Management

It is the fiduciary responsibility of the ICPL Friends Foundation Foundation to ensure that all gifts are used in accordance with the donors’ intentions. Our investment portfolio is overseen by our Finance Committee, and managed by Hills Bank Trust Wealth Management. The Finance Committee also reviews and approves an annual operating and grant budget before it is presented to the Board for adoption, while staff ensures an internal management control system.

The Foundation has both endowed and non-endowed funds. Endowed funds are invested strategically to preserve their original value and generate income. Income generated from these funds is used to support Library projects funded by the Friends Foundation.

The Iowa City Public Library Friends Foundation is a 501(c)(3) charitable organization registered with the IRS and with the State of Iowa. Our TIN is 42-1181774,

The Iowa City Public Library Friends Foundation’s IRS 990 Forms are available here.