One of three universities operated by the State of Iowa, UI was established in 1847 in Iowa City. Its full-time faculty numbers nearly 1,800 and serves a student body of ~30,000. A single State Board of Regents is appointed by the Governor, and each of the three state universities has a President who reports to the Board of Regents. Iowa has only one College of Medicine in and this resides at UI. The UI Hospitals and Clinics is the major teaching hospital for the Carver College of Medicine. Education and research activities of the Veterans Administration Medical Center, which is one-half block away, are also under the aegis of the Dean's Office. A central Division of Sponsored Programs coordinates all research administration under the direction of the Vice President for Research. The Carver College of Medicine receives support through the general fund of the University, whereas the UI Hospitals and Clinics has a separate state appropriation and an independent budget. 

In fiscal year 2018, UI received revenue totaling over $4.1 billion dollars (see chart below). This included $435 million in grants and contracts. Total revenue including grants, contracts, and gifts amounts to $554 million. Agencies of the federal government, including the National Institutes of Health, were the single largest source of external funds, supplying $260 million in FY2018. Revenue for the College of Medicine comes primarily from state appropriations, extramural research funding, and clinical practice. In 2014, U.S. News & World Report ranked the UI Carver College of Medicine 15th among public institutions. UI Carver College of Medicine faculty members are also some of the most productive when measured by NIH dollars.

Funding Totals History
(past 6 Fiscal Years)

*Fiscal Year = University of Iowa Fiscal Year = July 1 - June 30