Miller Endowment Incorporated EIN 42-1448239 Form 990 (PDF) Claim this org

Miller Endowment Incorporated

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Supports educational goals at the University of Iowa and Iowa State University. For fiscal year 2025 it reported $1.2M in revenue, $2.2M in expenses, and $19.5M in net assets.Pt I

Type
Supporting organization · Education
Location
Ames, IA
Filings
5 on file (2021–2025)
Revenue
$1.2MFY2025
Expenses
$2.2M
Net assets
$19.5M
People
8
Filings
5
Updates
0
More identity details & actions ⌄
EIN  42-1448239 Supporting organization Ames, IA
Form 990 (PDF)
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Size
$1–10M
What they do
Supports educational goals at the University of Iowa and Iowa State University.
Leadership
Wendy Wintersteen · Vice President
Money in and out
$1.2M revenue, $2.2M expenses
Bottom line
-92% net inflow
Money in and out · FY2025
Total revenue
$1.2M
Pt VIII · Ln 12
Total expenses
$2.2M
Pt IX · Ln 25
Net assets
$19.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$1.1M
Where spending went · Part IX cols B–D
Program services $0.78 Management & general $0.22
Net inflow
-92%
revenue over expenses, this year▼ -95% vs prior filing year
Pass-through gifts
0%
of revenue from contributions
Program spending
78%
of expenses reach stated programs-0.4% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$1.2M
FY2025▼ -23%
Expenses
$2.2M
FY2025▲ +0.9%
Total assets
$19.5M
FY2025▼ -5%
Total liabilities
$0
FY2025
Total revenue
$1.2M
Pt VIII · Ln 12
Total expenses
$2.2M
Pt IX · Ln 25
Net assets
$19.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$1.1M
Total assetsPt X · Ln 16$19.5M
Program-expense ratioPt IX · col B78%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 4pending

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMiller Endowment Incorporated
EINHdr · item D42-1448239
Principal addressHdr · item CAmes, IA
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B120)
Ruling yearIRS BMFMar 1996

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Vice President
$0Pt VII · Sec A
Secretary (thru 10/24)
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer (start 9/24)
$0Pt VII · Sec A
Treasurer (thru 9/24)
$0Pt VII · Sec A
Secretary (start 10/24)
$0Pt VII · Sec A
Former Officer
$0Pt VII · Sec A
Former Officer
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $1.7M of program spending, described in the organization's own filed words · FY2024.
01

Per the last will and testament of F. Wendell Miller, funds are to be expended for scholarships, music and lectures, or other special expenses contributing to the knowledge, educational attainments and standards of the universities and its faculty.

$1.7Mprogram expense

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Statement of Revenue

Part VIII
Investment income100%$1.2M
Total revenueLn 12$1.2M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.78 Management & general $0.22
Program services78%$1.7M
Management & general22%$493K
Total functional expensesLn 25$2.2M

Balance Sheet

Part X · end of year
CashLn 1$26K
Total assetsLn 16$19.5M
Total liabilitiesLn 26$0
Total net assetsLn 32$19.5M
Months of cash on handcomputed0.1

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $19.5M · Operating expenses/yr $2.2M
105.4 months
Where the money goes
Program services
Program services $1.7M · Total expenses $2.2M
78%
Management & General
Management & general $493K · Total expenses $2.2M
22%
Fundraising
Fundraising $0 · Total expenses $2.2M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $1.2M
0%
Government reliance
Government grants — · Total revenue $1.2M
Earned-income share
Program service revenue $0 · Total revenue $1.2M
0%
Investment reliance
Investment income $1.2M · Total revenue $1.2M
+100%
Program self-sufficiency
Program service revenue $0 · Total expenses $2.2M
0%
Growth & trend
Revenue growth (YoY)
This year $1.2M · Prior year $1.5M
-23%
Revenue CAGR
FY2020 $1.4M · FY2024 $1.2M
-4%
Net-asset trend (YoY)
End of year $19.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.2M · Expenses $2.2M
-92%
Liabilities-to-Assets
Total liabilities — · Total assets $19.5M
Net-asset ratio
Net assets $19.5M · Total assets $19.5M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $14.0M · Other securities (Pt X, ln 12) $5.5M · Total assets (Pt X, ln 16) $19.5M
100%
People & payroll
Highest Reported Total Compensation
Individual Wendy Wintersteen · Reported title Vice President · Highest reported compensation $0 · Total expenses $2.2M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $2.2M
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 78%
Overhead ratio 22%
Revenue growth -23%
Investment management fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 10 grants · $8.2M · 2020–2024
University of IowaFY2024$862,223
Iowa State UniversityIA · FY2024$862,223
University of IowaFY2023$858,242
Iowa State UniversityIA · FY2023$858,242
University of IowaFY2022$827,805
Iowa State UniversityIA · FY2022$827,805
University of IowaFY2021$777,192
Iowa State UniversityIA · FY2021$777,191
University of IowaFY2020$760,850
Iowa State UniversityIA · FY2020$760,850

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$1.2M revenue · viewing · ⤓ 990 PDF
FY2024$1.5M revenue · ⤓ 990 PDF
FY2023$1.1M revenue · ⤓ 990 PDF
FY2022$1.4M revenue · ⤓ 990 PDF
FY2021$1.4M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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