After the financial closing and payment of closing costs associated with the P3 agreement with ENGIE North America and Meridiam, the university transferred the balance of the proceeds to an endowment. A separate 501(c)(3) nonprofit entity, the University of Iowa Strategic Initiative Fund (UISIF), was formed and its board of directors is responsible for managing the funds, including:
- Appointing investment advisors and monitoring independent investment manager(s);
- Granting money to the university to support concessionaire payments of the P3 agreement;
- Determining the annual payout of the endowment for the purpose of granting gifts of money to the university for direct use in its scientific research and educational activities; and
- Reviewing all grant requests forwarded to it by the university to ensure that each advances the university’s strategic plans and advances the cause of education and research.
UISIF Financial Report (PDF)