fee exemption status

0452-EX-CN-2018 Text Documents

University of Iowa

2018-06-08ELS_210911

l fim Office of Senior Vice President and Treasurer THE 105 Jessup Hall UNlVER.SllY Iowa City, IA 52242 Tel 319.335.3552 OFlOWA Fax 319.353.2069 To: Whom It May Concern Re: Tax Classification The University of Iowa EIN #42-6004813 DUNS 062761671 Consistent with its IRS determination letter linked below, (http:!/tax. fo. uiowa.edu/files/tax. fo. uiowa.edu/files/IRS tax exemption.pdD the University oflowa is an instrumentality of the State of Iowa not subject to federal income tax deductible under Section 115 of the Internal Revenue Code, and contributions to the University are tax deductible under Section 170(c)(l). The University was established under the Iowa Constitution and entrusted with the threefold mission of teaching, research, and public service. As a state-owned educational institution the University is considered a governmental instrumentality and, as such, its income is generally deemed tax-exempt under Internal Revenue Service Title 26, Subtitle A, Chapter 1, Subchapter B, Section 115. Any unrelated business income earned by the University would be subject to income tax. The University is aware that private grant-making foundations are subject to the Foundation and Similar Excise Tax Regulations also outlined within IRS Title 26-Subtitle A, Chapter 1, Subchapter B, Section 53.4945-5(a)(4)(ii)--and wishes to assure private sponsors ofits eligibility to receive private funding in full accordance with those requirements. This information is intended to clarify and confirm the University of Iowa's nonprofit mission, tax status, classification as state institution of higher education, and resulting eligibility to receive private foundation funding for public and/or charitable purposes. We appreciate your consideration. SQ�/(U Director of Financial Management and Budget and University Secretary, The University oflowa February 3, 2017


Document Created: 2018-06-08 17:45:06
Document Modified: 2018-06-08 17:45:06
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