IOWA CITY VA MEDICAL RESEARCH FOUNDATION

EIN: 391886437 501(c)(3) Medical Research

IOWA CITY, IA

Total Revenue
$478,228
Total Expenses
$639,876
Total Assets
$1,233,111
Net Assets
$358,240
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
IA
Principal Officer
KATHLEEN HOLT
Phone
3196883542
Tax Period
2024-01-01 to 2024-12-31

IOWA CITY VA MEDICAL RESEARCH FOUNDATION, founded in 1997, is a small nonprofit in the Medical Research sector that reported $478K in total revenue in fiscal year 2024. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $640K exceeded revenue, resulting in a 34% operating deficit.

Mission

THE IOWA CITY VA MEDICAL RESEARCH FOUNDATION'S (ICVARF) MISSION IS TO MOBILIZE RESOURCES THAT HELP IMPROVE VETERANS' HEALTHCARE, EDUCATION, AND LIVES. BASED IN IOWA CITY, A HUB OF RESEARCH AND HEALTH CARE IN THE MIDWEST, THE FOUNDATION SERVICES VETERANS IN IOWA AND EASTERN ILLINOIS. ICVARF ALSO HELPS THE IOWA CITY VA HEALTH CARE SYSTEM ADVANCE ITS HEALTHCARE GOALS. ICVARF SUPPORTS MEDICAL RESEARCH PROJECTS LED BY VA PRINCIPAL INVESTIGATORS AND STAFF TO ASSIST AND IMPROVE THE HEALTHCARE PROVIDED TO THE VETERAN COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $429,713 Revenue: $464,413

IOWA CITY VA MEDICAL RESEARCH FOUNDATION (ICVARF) MOBILIZES RESOURCES THAT HELP IMPROVE VETERANS' HEALTHCARE, EDUCATION, AND LIVES. BASED IN IOWA CITY, A HUB OF RESEARCH AND HEALTH CARE IN THE...

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IOWA CITY VA MEDICAL RESEARCH FOUNDATION (ICVARF) MOBILIZES RESOURCES THAT HELP IMPROVE VETERANS' HEALTHCARE, EDUCATION, AND LIVES. BASED IN IOWA CITY, A HUB OF RESEARCH AND HEALTH CARE IN THE MIDWEST, WE SERVE VETERANS IN IOWA AND EASTERN ILLINOIS. ICVARF HELPS THE IOWA CITY VA HEALTH CARE SYSTEM ADVANCE ITS HEALTHCARE GOALS. ICVARF SUPPORTS MEDICAL RESEARCH PROJECTS LED BY PRINCIPAL INVESTIGATORS AND STAFF TO ASSIST AND IMPROVE THE HEALTHCARE PROVIDED TO THE VETERAN COMMUNITY.THE FOUNDATION HAS SUCCESSFULLY COMPLETED THE DOD AWARD W81XWH2010811, DRAWING DOWN THE ENTIRE BUDGET OF $399,912.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $40
Program Service Revenue $464,413
Investment Income $13,775
Other Revenue $0
TOTAL REVENUE $478,228

Expense Breakdown

Grants Paid $0
Salaries & Benefits $394,988
Fundraising Expenses $0
Program Expenses $429,713
Other Expenses $244,888
TOTAL EXPENSES $639,876

Year-over-Year Comparison

2024 2023 Change
Revenue $478,228 $668,837 -0.3%
Expenses $639,876 $913,958 -0.3%
Net Income $-161,648 $-245,121 -0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
7
Employees
6
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$318,322
Total Directors
9
$350,254
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
YOREK DR MARK CHAIR 2.00
Officer Director
$0 $0 $178,030
POINTS KARI LEFT BEFORE YEAR END DIRECTOR 2.00
Director
$0 $0 $144,698
HOLT KATHLEEN EXECUTIVE DIRECTOR 30.00
Officer
$101,400 $38,892 $140,292
STRECK MELISSA DIRECTOR 2.00
Director
$0 $0 $27,526
MIKELSON JOHN SECRETARY/TREASURER 2.00
Officer Director
$0 $0 $0
JOHNSON-MEKOTA JUDITH DIRECTOR 2.00
Director
$0 $0 $0
KLINE DR JOEL DIRECTOR 2.00
Director
$0 $0 $0
PARKER DR STANLEY DIRECTOR 2.00
Director
$0 $0 $0
VANDERHOEF PETER DIRECTOR 2.00
Director
$0 $0 $0
VASHISTHA DR VISHAL DIRECTOR 2.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $478,228 $639,876 $1,233,111 $-161,648
2023 $668,837 $913,958 $1,296,917 $-245,121
2022 $941,060 $998,126 $845,189 $-57,066
2021 $334,066 $661,850 $928,689 $-327,784
2020 $70,125 $403,361 $1,264,052 $-333,236
2019 $929,500 $841,909 $1,611,234 $87,591
2018 $1,148,566 $1,039,160 $1,834,331 $109,406
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