Miller Endowment Incorporated: FY2021 Nonprofit Profile & Form 990 (EIN 42-1448239)

Revenue by fiscal year
FY2021	$1.4M
FY2022	$1.4M
FY2023	$1.1M
FY2024	$1.5M
FY2025	$1.2M

Expenses by fiscal year
FY2021	$2.0M
FY2022	$2.1M
FY2023	$2.1M
FY2024	$2.2M
FY2025	$2.2M

Net assets by fiscal year
FY2021	$22.9M
FY2022	$22.3M
FY2023	$21.2M
FY2024	$20.5M
FY2025	$19.5M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

78%

22%

Program services 78% · $1.5M Management & general 22% · $432K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Bruce Harreld

President

$0Pt VII · Sec A

Wendy Wintersteen

Vice President

$0Pt VII · Sec A

Susan Klatt

Secretary

$0Pt VII · Sec A

Pam Cain

Treasurer

$0Pt VII · Sec A

See Miller Endowment Incorporated executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports educational goals at the University of Iowa and Iowa State University.

Questions for Miller Endowment Incorporated

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Provided by the organization

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1 program · $1.5M · in their own filed words · FY2020

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.

$1.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

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

By the numbers

The FY2021 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$1.4M

Ln 12

Investment incomeLn 3$1.4M

Money outPt IX

$2.0M

Ln 25

Programscol B$1.5M

Managementcol C$432K

Owns and owesPt X

$22.9M

net assets · Ln 32

Cash and savingsLn 1–2$21K

Total assetsLn 16$22.9M

LiabilitiesLn 26$0

PeoplePt VI, VII

4

listed · VII A

PaidVII A0

Voting boardVI 1a4

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$1.4M

Gains on assetsLn 7$1.2M

Total revenueLn 12$1.4M

Assets in detailPt X, end of year

CashLn 1$21K

Cash and savings togetherLn 1–2$21K

InvestmentsLn 11–13$22.9M

Total assetsLn 16$22.9M

LiabilitiesLn 26$0

Net assetsLn 32$22.9M

OperationsPt I, VI

EmployeesI 50

VolunteersI 64

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$44K	$21K
InvestmentsLn 11–13	$23.4M	$22.9M
Total assetsLn 16	$23.5M	$22.9M
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$23.5M	$22.9M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$1.5M	$1.5M
Investment management feesLn 11f	$425K		$425K
Other fees for servicesLn 11g	$7K		$7K
Total functional expensesLn 25	$2.0M	$1.5M	$432K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$1.2M	$2.2M	−$1.1M	$19.5M	990 PDF
FY2024	$1.5M	$2.2M	−$706K	$20.5M	990 PDF
FY2023	$1.1M	$2.1M	−$1.0M	$21.2M	990 PDF
FY2022	$1.4M	$2.1M	−$613K	$22.3M	990 PDF
FY2021 Viewing	$1.4M	$2.0M	−$582K	$22.9M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2021 990 (6 parts)

Part I · Summary $1,371,331 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $772,086$1,371,331

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $772,086$1,371,331

I-13 Grants and similar amounts paidPrior year $1,514,546$1,521,700

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $375,382$431,764

I-18 Total expensesPrior year $1,889,928$1,953,464

I-19 Revenue less expensesPrior year −$1,117,842−$582,133

Part VI · Governance 0 of 4 board members independent, 4 to look at

VI-1a Voting members of the governing body4

VI-1b Independent voting members0

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $1,371,331 across 3 lines filed

VIII-3 Investment incomeExcluded from tax $219,232$219,232

VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,152,099$1,152,099

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,371,331$1,371,331

Part IX · Statement of functional expenses $1,953,464 across 3 lines filed

IX-1 Grants to domestic organizationsPrograms $1,521,700$1,521,700

IX-11f Investment management feesManagement $425,138$425,138

IX-11g Other fees for servicesManagement $6,626$6,626

IX-25 Total functional expensesPrograms $1,521,700 · Management $431,764 · Fundraising $0$1,953,464

Part X · Balance sheet $22,896,662 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $43,642$20,741

X-11 Publicly traded securitiesStart of year $17,953,645$17,371,075

X-12 Other securitiesStart of year $5,481,508$5,504,846

X-16 Total assetsStart of year $23,478,795$22,896,662

X-26 Total liabilitiesStart of year $0$0

X-28 Net assets with donor restrictionsStart of year $23,478,795$22,896,662

X-32 Total net assets or fund balancesStart of year $23,478,795$22,896,662

X-33 Total liabilities and net assetsStart of year $23,478,795$22,896,662

Part XI · Reconciliation of net assets $22,896,662 net assets at year end

XI-1 Total revenue$1,371,331

XI-2 Total expenses$1,953,464

XI-3 Revenue less expenses−$582,133

XI-4 Net assets at start of year$23,478,795

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$22,896,662

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Miller Endowment Incorporated FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Miller Endowment Incorporated

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV