# University of Northern Iowa Endowment

University of Northern Iowa Endowment is an Endowment / Foundation based in Cedar Falls, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Cedar Falls, United States
- **Region:** North America
- **Address:** Cedar Falls, Iowa, United States
- **Founded:** 1959
- **Assets under management:** $200M–$250M (Altss estimate)
- **Website:** foundation.uni.edu
- **LinkedIn:** https://www.linkedin.com/company/university-of-northern-iowa-alumni

## Regulatory record

- **Reports private funds:** No

## About

The University of Northern Iowa Endowment was established in 1876 alongside the university itself, with the UNI Foundation acting as its primary steward. Jim Jermier, President of the UNI Foundation and Vice President for University Advancement, leads the effort to manage and grow contributions that now span more than 950 individually named funds. The underlying wealth is dispersed across generations of Iowa donors rather than concentrated in a single industrial fortune, giving the endowment a structurally broad and loyal donor base. The endowment pursues a multi-asset strategy that balances capital preservation with growth. Confirmed allocations include commodities, real estate fund-of-funds, hedge funds, and private equity — the latter accessed through a fund-of-funds structure rather than direct co-investments. The commodities exposure includes a Bloomberg Commodity Index allocation. On the real-asset side, the foundation holds direct interests via the UNI Properties Corporation, which owns mixed-use holdings and residential assets like The Quarters Apartment Complex in Cedar Falls. The investment objective remains classic for a regional public university: generate steady, risk-adjusted returns to fund scholarships, academic programs, and faculty support in perpetuity. The foundation operates with a board of trustees drawn heavily from finance and advisory leadership — chair Michael Armbrecht is a retired financial executive, trustee Rick Noel is a retired partner at Varde Partners, and Jason Flinn is a partner at Deloitte & Touche. In September 2023, the foundation received a $10 million gift from trustee David Takes, CEO of Doerfer Companies, marking one of the largest individual commitments in its history. The foundation participates in the NACUBO-TIAA Study of Endowments, signaling close attention to peer benchmarking and institutional best practice. What distinguishes the UNI Endowment from purely financial institutions is its hybrid stewardship of both financial and cultural capital. Alongside the investment portfolio, the foundation holds the UNI Permanent Art Collection, the UNI Museum Collection, and an outdoor sculpture program across campus. That custodianship of non-financial assets — governed by the same board and advancement leadership — creates an unusual dual mandate: protect campus heritage while compounding donor capital across market cycles.

## Sectors

- Education

## People

- Jim Jermier — President of the UNI Foundation and Vice President for University Advancement
- Michael Armbrecht — Chair of the Board of Trustees
- Bobbie Williams — First Vice Chair of the Board
- Larry Fox — Chair of the Board of Trustees
- Rick Noel — Trustee
- Jason Flinn — Trustee
- Marcus Noel — Member of the UNI Foundation Board of Trustees and Director at Burford Capital
- Bob Bowlsby — Member of the UNI Foundation Board of Trustees
- Heather Gunderson — Trustee
- Kathryn M. Kunert — Trustee
- Jim Mudd Jr. — Trustee
- David Takes — Trustee

## Questions

### Does the endowment invest directly in private companies or only through funds?

The UNI Endowment accesses private equity through a fund-of-funds structure. There is no public evidence of direct co-investments or standalone SPVs in private companies. The real estate exposure includes both fund-of-funds positions and direct holdings through the UNI Properties Corporation, which owns mixed-use and residential assets in Cedar Falls.

### How is the endowment’s real estate exposure structured?

Real estate is held in two layers: a real estate fund-of-funds allocation that provides diversified, manager-selected exposure, and direct property holdings via the UNI Properties Corporation. The direct portfolio includes mixed-use developments in Cedar Falls and The Quarters Apartment Complex, a residential property at 2124 West 27th Street. This dual structure gives the foundation both liquid, institutional real estate beta and hard assets tied to the local market.

### What is the endowment’s relationship with the John Pappajohn Entrepreneurial Center?

The UNI Foundation collaborates with the John Pappajohn Entrepreneurial Center (JPEC) on venture capital funding initiatives and entrepreneurial competitions. JPEC serves as a bridge between the university’s entrepreneurial ecosystem and early-stage capital, though it is not clear whether the endowment itself commits capital directly through JPEC-sponsored vehicles or plays a convening role.

### What role did David Takes’ $10 million gift play in the endowment’s recent trajectory?

Trustee David Takes, President and CEO of Doerfer Companies, made a $10 million gift in September 2023 — one of the single largest commitments to the UNI Foundation. The gift underscores the concentration of donor influence among board members who are also active financial supporters, a dynamic that aligns governance and fundraising but also concentrates soft power within the trustee group.

## Related profiles

- [Charles & Agnes Kazarian Eternal Foundation](https://altss.com/profile/charles-agnes-kazarian-eternal-foundation)
- [Community Foundation of Greater Fort Wayne](https://altss.com/profile/community-foundation-of-greater-fort-wayne)

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Last updated: 2026-07-08T22:36:23.366Z

Canonical page: https://altss.com/profile/university-of-northern-iowa-endowment

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