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Search to lead $2.2B University of Iowa Center for Advancement begins
‘This announcement will serve as the only public update on the search process’
Oct. 23, 2025 9:00 am
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IOWA CITY — A group of seven donors and University of Iowa leaders this month have launched a national search for the next president of its $2.2 billion philanthropic enterprise after Lynette Marshall in May announced plans to retire in summer 2026.
The search committee — formed by the University of Iowa Center for Advancement’s 35-member board of directors — will gather input from “key stakeholders to shape the position profile” and then launch a national search aimed at attracting a broad pool of candidates to lead the “independent nonprofit organization dedicated to strengthening the UI through engagement and philanthropy.”
“The president and CEO provides strategic leadership in this work, ensuring the university has the resources and relationships it needs to thrive,” according to an announcement of the search.
Marshall — who has led the center for two decades, since 2006 — helped raise billions, including hundreds of millions to rebuild after the flood of 2008; spearheaded the most lucrative fundraising campaign in state history in 2017; and later that year guided the merger of the then-UI Foundation that she led with the UI Alumni Association.
In support of the endeavor to find her successor, the board hired executive search and leadership firm Pearson Partners International. Its “long-standing relationship with the UICA and deep understanding of the Iowa City community will guide a thoughtful and inclusive process to identify exceptional candidates,” according to center officials.
They did not disclose how much the center is paying the firm or share the contract.
“In our contract with PPI, we agreed not to disclose the contract because it contains proprietary and confidential work product information belonging to PPI, including details of its processes, pricing and methodologies,” Rebekah Tilley, assistant vice president of the center’s communications and marketing, told The Gazette.
Search committee names
Search committee members are UI President Barbara Wilson, UI College of Education Dean Dan Clay and five current or former Center for Advancement board members who also have made meaningful donations to the university over the years.
- Jerre Stead is a former UICA board member who — with his wife Mary Joy Stead — has over six decades given nearly $100 million to the University of Iowa, recognized in the naming of the UI Stead Family Children’s Hospital
- Andy Code, a UI alum and founder of the Code Family Foundation, has supported more than 100 charities and ministries, including the UI College of Nursing, UI Tippie College of Business, UI Carver College of Medicine, UI International Programs and UI First Gen Hawks
- Chris DeWolf, UI alum and UICA board chair-elect, is a Cedar Rapids entrepreneur who with his wife donated $1.5 million to the UI Stanley Museum of Art to house Jackson Pollock’s globally-esteemed “Mural”;
- Tom Veale, UI alum and insurance executive, is a longtime supporter of the UI College of Pharmacy — serving previously as chair of its executive leadership board and presently as the center’s finance committee chair
- Cathy Zaharis, UICA board vice chair and UI alum, who through her giving has established student scholarships to study abroad.
“The UICA has been transformed under Lynette’s leadership, and her impact will be felt for generations,” DeWolf, chair of the search committee, said in a statement about finding Marshall’s successor. “As we look to the future, we are committed to finding a leader who can build on this legacy and continue to strengthen our mission to advance the University of Iowa through engagement and philanthropy.”
Center financials
Under Marshall’s watch, the University of Iowa’s endowment has doubled — from $899 million a decade ago in fiscal 2016 to $1.8 billion in 2025, according to the center’s annual report.
The center’s total net assets — as of fiscal 2024, the most recent documents publicly available — were $2.2 billion, nearly double its $1.2 billion from a decade prior, according to the foundation’s tax forms.
Although the foundation aims to function as the “preferred channel for private contributions that benefit all areas of the University of Iowa,” a UI 2024 annual financial report indicated 98 percent of the center’s $2 billion-plus in assets comes with donor restrictions. That means the money must follow donor intent — like creating a scholarship or supporting construction of a new medical facility.
Total contributions in 2024 increased to $153 million from $132 million in 2023, according to the university.
Marshall in the last budget year earned $627,175 — including base pay, bonuses and other deferred compensation.
In announcing the search Thursday — citing its confidentiality and governance standards — the UI Center for Advancement said “this announcement will serve as the only public update on the search process until the appointment of the next president and CEO.”
Vanessa Miller covers higher education for The Gazette.
Comments: (319) 339-3158; vanessa.miller@thegazette.com
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