Meetings later this month between the ISU Foundation and the Iowa Newspaper Association may result in a compromise, one that would create more openness on the part of the ISU Foundation regarding its financial records. If a compromise is reached, a bill before the Iowa legislature would become unnecessary.

House File 2003 would amend the Iowa public records law, adding a new section which provides that “financial records of foundations which are established by or pursuant to statute for the support of the Board of Regents are public records under Code chapter 22.”

The Iowa Newspaper Association has been fighting battles for years with the ISU Foundation to force it to be more open about its financial expenditures.

While it is good that the ISU Foundation is talking with the Iowa Newspaper Association about this, it seems the only reason a compromise is on the horizon is because of House File 2003. If the bill wasn’t set to make a law regarding the Foundation records, chances are there would be no compromise being discussed this quickly.

Because of this, the Iowa Newspaper Association should not waver. It should not budge. House File 2003 is a comprehensive and drastic change that the ISU Foundation should closely abide by, if not entirely abide by. Any compromise should have the basic tenets of House File 2003:

“Information, other than personal information, stored and preserved by a foundation which relates to the financial condition or affairs of the foundation, including but not limited to its budget, sources of revenue, and expenditures, shall be considered a governmental body for purposes of allowing public examination, copying, publishing, or dissemination of the information as provided under this chapter” – House File 2003

Information revealing the identity of an individual contributor or potential contributor would not be public information if that individual requests confidentiality.

The ISU Foundation has recently received a lot of attention. The Marie Powers estate sale was a public relations nightmare, and as a result, questions of accountability have arisen.

The Foundation has always stood by its “separate and private entity” mantra. It doesn’t fall under open records laws because it is a separate entity from the university. “If we give this information,” it says, “donors will stop donating to the university.”

According to ISU Foundation President Tom Mitchell, this would create a “donor-beware” situation.

This money is being raised and used for a public university, a state institution, and used by the public. Accountability has to lie somewhere. Especially in these times of drastic budget problems, when the university relies on fund-raising more and more, the public – not just the journalists – deserve to know about these funds.

Let’s hope the Iowa Newspaper Association forces the ISU Foundation to do what’s right.

editorialboard: Andrea Hauser, Tim Paluch, Michelle Kann, Charlie Weaver, Omar Tesdell