2024-02-24T07:02:30-06:00 2023-06-30 420714325 RSM US LLP 201 FIRST ST SE STE 800 CEDAR RAPIDS IA 524011425 990 2022-07-01 421041859 STUDENT PUBLICATIONS INC STUD 3193355786 100 ADLER JOURNALISM BLDG E131 IOWA CITY IA 522422004 JASON BRUMMOND PUBLISHER 3193355786 2024-02-22 1 JASON BRUMMOND 999009999 0 SHAWNA HULS P01315330 3192985333 2024-02-22 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JASON BRUMMOND 100 ADLER JOURNALISM BLDG E131 IOWA CITY IA 522422004 895153 0 X WWW.DAILYIOWAN.COM X 1924 IA THE ORGANIZATION EXISTS TO SERVE THE UNIVERISTY OF IOWA. IT PUBLISHES NEWS CONTENT IN PRINT AND ONLINE FORMATS, AS WELL AS, PROVIDES A PROFESSIONAL LEARNING ENVIRONMENT FOR STAFF MEMBERS TO GAIN JOURNALISM EXPERIENCE. 10 10 56 16 0 0 339022 32372 927903 860932 772 1849 0 0 1267697 895153 44355 32500 0 0 709242 716733 0 0 0 345832 280163 1099429 1029396 168268 -134243 2092062 1999816 41847 49853 2050215 1949963 X THE ORGANIZATION EXISTS TO SERVE THE COMMUNITY OF THE UNIVERSITY OF IOWA AND ITS PURPOSE IS TO PUBLISH THE DAILY IOWAN AND SUCH OTHER PUBLICATIONS IN PRINT, DIGITAL OR OTHER MEDIA FORMATS AND TO PROVIDE A PROFESSIONAL LEARNING ENVIRONMENT THAT ALLOWS STAFF MEMBERS TO GAIN REAL-WORLD JOURNALISM EXPERIENCE. 0 0 648494 32500 860932 OPERATION OF STUDENT NEWSPAPER 648494 1 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 32 0 1 56 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 1 0 0 0 0 1 1 0 0 1 0 0 1 1 1 0 X DEBBIE PLATH 3193355786 100 ADLER JOURNALISM BLDG ROOM E131 IOWA CITY IA 522422004 JASON BRUMMOND PUBLISHER 40.00 X 135488 0 11121 PATRICK JOHNSON CHAIR 1.00 X X 0 0 0 JACKIE DEMOLEE VICE CHAIR 1.00 X X 0 0 0 OLIVIA AUGUSTINE TRUSTEE 1.00 X 0 0 0 KIRSTEN KUMPF BAELE TRUSTEE 1.00 X 0 0 0 SARA KONRAD BARANOWSKI TRUSTEE 1.00 X 0 0 0 STEVE BATTERSON TRUSTEE 1.00 X 0 0 0 RYAN FOLEY TRUSTEE 1.00 X 0 0 0 PALLE JORGENSON TRUSTEE 1.00 X 0 0 0 DAVID SCRIVNER TRUSTEE 1.00 X 0 0 0 MELISSA TULLY TRUSTEE 1.00 X 0 0 0 JULI KRAUSE SECRETARY 1.00 X 0 0 0 135488 0 11121 1 0 0 0 0 32372 32372 UNIV. SUPPORT/SUBS. 900099 465653 465653 ADVERTISING 900099 356062 356062 MISCELLANEOUS 900099 33990 33990 SUBSCRIPTIONS 900099 5227 5227 860932 1849 1849 895153 860932 0 1849 32500 32500 151557 151557 484930 384763 100167 10387 9181 1206 44106 27413 16693 25753 7865 17888 10902 10902 10030 10030 16153 12178 3975 35017 35017 51875 47579 4296 29811 29811 15622 15622 PRINTING 56446 56446 SUPPLIES 38631 29327 9304 POSTAGE AND FREIGHT 8086 7375 711 TELEPHONE 3646 2290 1356 3944 1766 2178 1029396 648494 380902 0 529539 517071 589106 368783 20063 47755 381 315 831856 771673 60084 60183 892889 971233 0 34476 2092062 1999816 19397 10055 22450 5322 0 34476 41847 49853 X 557595 597149 1492620 1352814 2050215 1949963 2092062 1999816 -134243 33991 0 X X 1 X 0 1 0 X 37421 140132 870574 339022 32372 1419521 1034163 908865 816759 927903 860932 4548622 1071584 1048997 1687333 1266925 893304 5968143 750000 1000 1000 752000 0 750000 1000 1000 752000 5216143 252 772 1849 2873 252 772 1849 2873 1071836 1048997 1687333 1267697 895153 5971016 0.87360 0.87810 0.00050 0.00030 X 1004083 1277 33991 44000 10860 984491 735085 300350 15215 36437 10130 1004083 600183 178138 34727 8509 735085 682737 -43100 33080 6374 600183 696647 50 24387 31551 6796 682737 0.88990 0.11010 1 0 831856 771673 60183 60183 POOLED INVESTMENTS 971233 C 971233 CURRENT OPERATING LEASE LIABILITY 34476 34476 X PART V, LINE 4: THE ORGANIZATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE INVESTMENT OBJECTIVE OF THE ENDOWMENT IS TO SEEK MAXIMUM TOTAL RETURN CONSISTENT WITH THE PRESERVATION OF PRINCIPAL, DIVERSIFICATION AND AVOIDANCE OF EXCESSIVE RISK. THE ORGANIZATION WILL EXERCISE REASONABLE CARE, SKILL AND CAUTION WITH REGARD TO THE INVESTMENT OF FUNDS IN THE CONTEXT OF THE ENTIRE PORTFOLIO WHICH INCORPORATES RISK AND RETURN OBJECTIVES REASONABLY SUITABLE TO THE PURPOSES OF THE ORGANIZATION. THE ASSETS ARE TO BE MANAGED IN A MANNER THAT SEEKS TO MEET THESE INVESTMENT OBJECTIVES, WHILE AT THE SAME TIME ATTEMPTING TO REDUCE VOLATILITY IN YEAR-TO-YEAR SPENDING. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY. PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AS SUCH, THE ORGANIZATION IS TAXED ONLY ON ITS UNRELATED BUSINESS INCOME. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION DID NOT RECEIVE ANY MATERIAL UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2023 AND 2022. WHEN TAX RETURNS ARE FILED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD BE ULTIMATELY SUSTAINED. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT ARE REQUIRED TO BE RECORDED AS OF JUNE 30, 2023 AND 2022. 1 SCHOLARSHIPS FOR THE PURPOSE OF RECRUITING HIGH SCHOOL JOURNALISTS TO WORK FOR THE ORGANIZATION THROUGHOUT THEIR COLLEGE CAREER, AND SCHOLARSHIPS FOR THE PURPOSE OF REWARDING HIGH ACHIEVERS IN THE NEWSROOM. 23 32500 0 PART I, LINE 2: EACH SEMESTER, THE SCHOLARSHIP RECIPIENT WILL BE EVALUATED FOR SCHOLARSHIP SUPPORT USING THE FOLLOWING CRITERIA: 1. MINIMUM GRADE-POINT AVERAGE OF 2.7 2. COMPLETION OF AT LEAST NINE CREDIT HOURS PER SEMESTER 3. EVALUATION OF NEWSROOM PERFORMANCE BY THE EDITOR-IN-CHIEF, A COACH, AND THE PUBLISHER FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION FILED RESTATED ARTICLES OF INCORPORATION AND BYLAWS WITH THE IOWA SECRETARY OF STATE ON DECEMBER 2, 2022. A SUMMARY OF THE SIGNIFICANT CHANGES IS PROVIDED BELOW. ARTICLES OF INCORPORATION SIGNIFICANT CHANGES: - ADDED A SECOND PURPOSE OF THE CORPORATION TO INCLUDE THAT THE CORPORATION PROVIDES A PROFESSIONAL LEARNING ENVIRONMENT THAT ALLOWS STAFF MEMBERS TO GAIN REAL-WORLD JOURNALISM EXPERIENCE. - CHANGE TO A VOTE OF 2/3'S OF THE ENTIRE BOARD OF TRUSTEES TO DISSOLVE THE CORPORATION VS. PRIOR WAS BASED ON A VOTE OF 8 BOARD MEMBERS. - ADDED 2 NEW ARTICLES THAT STATE: - THE CORPORATION SHALL HAVE ALL OF THE POWERS GIVEN TO IT BY THE LAWS OF THE STATE OF IOWA (STATE OF INCORPORATION) AS LONG AS THEY ARE EXERCISED IN FURTHERANCE OF THEIR TAX-EXEMPT PURPOSES. - THE CORPORATION MAY BE DISSOLVED IN ACCORDANCE WITH THE LAWS OF THE STATE OF IOWA (STATE OF INCORPORATION) BYLAWS SIGNIFICANT CHANGES: - ADDED EDUCATION AND TAX-EXEMPT STATUS PURPOSES - UPDATED RANGE OF NUMBER OF BOARD MEMBERS TO BE 7 TO 11. - UPDATED THE APPOINTMENT OF STUDENT, FACULTY, STAFF, AND ALUMNI DIRECTORS TO BE MADE BY A MAJORITY VOTE OF THE CURRENT BOARD MEMBERS INSTEAD OF STUDENT, FACULTY, STAFF, AND OTHER COMMITTEE ELECTIONS. - REMOVED TERM LIMITS ON BOARD MEMBERS' TERMS. - ADDED A BY-LAW TO ALLOW THE BOARD TO REMOVE DIRECTORS WITH A TWO-THIRDS VOTE - ADDED OTHER BASIC BYLAWS IN REGARD TO BUSINESS AND FINANCIAL OPERATIONS, INDEMNIFICATION, AND BYLAW REVIEW BY THE BOARD MEMBERS. THE AMENDED ARTICLES OF INCORPORATION AND BYLAWS ARE AVAILABLE TO THE IRS UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD MEMBERS AND REVIEWED BY THE PRINCIPAL OFFICER PRIOR TO SIGNING. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION EXCHANGES COMPENSATION INFORMATION ANNUALLY WITH THE WESTERN ASSOCIATION OF UNIVERSITY PUBLICATIONS MANAGERS OF WHICH THE ORGANIZATION IS A MEMBER. THE BUDGET COMMITTEE WITHIN THE BOARD REVIEWS THE INFORMATION TO DETERMINE COMPENSATION LEVELS FOR THE PUBLISHER AND OTHER MANAGEMENT POSITIONS. COMPENSATION DECISIONS ARE DOCUMENTED AS PART OF THE OVERALL ANNUAL BUDGETING REVIEW AND APPROVAL PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE REVIEW OF ITS FINANCIAL STATEMENTS.