Majority of money handed out to University of Iowa students donated back

IOWA CITY — Of the 1,000 envelopes containing $10 each that venture capitalist John Pappajohn brought to the University of Iowa campus on Friday, 667 were distributed to students who attended his lecture.

Of that total, 97 percent — or 646 students — gave the cash to the UI Foundation, aligning with the purpose of the Pappajohn surprise: to inspire students to start giving to their university and launch them on lifelong journeys of philanthropy.

The 21 envelopes not returned, perhaps, were used to toast Pappajohn with a few beers at the Airliner — as he suggested might happen. Although UI Foundation officials said those students still could choose to donate the money.

And, following Friday's lecture, Pappajohn walked around campus distributing additional envelopes — which let student donors identify how, specifically, they wanted their $10 used. The envelopes listed six donation categories and an 'other' option for write-in requests.

Of the 646 envelopes returned at the lecture, 230 students committed their $10 to the new 14-floor UI Children's Hospital — a four-year $360 million project slated for completion next summer.

The John Pappajohn Entrepreneurial Center was the second most-popular choice, with 117, followed by UI colleges, with 108. Students were allowed to write in the college of their choice — like the College of Liberal Arts and Sciences or the Henry B. Tippie College of Business.

Additionally, 100 students dedicated their $10 to scholarships; 36 gave to the arts campus; and 55 chose either athletics, UI libraries, or 'other,' according to Dana Larson, executive director of communications and marketing for the UI Foundation.

The UI Foundation has not tallied the total number of $10 envelopes Pappajohn distributed on campus — including those he gave out after his speech — and therefore don't know the net result of his philanthropic challenge.

But Pappajohn — one of UI's largest donors, who has given more than $50 million over the years and been recognized on the UI business and health care campuses — said he hopes the impact will stretch far beyond last week's event.

During his talk, Pappajohn challenged students to continue giving at a pace of at least $10 a year for five years, and he vowed to match those future gifts. Larson said the foundation marked the records of student donors who gave back Pappajohn's $10 so they know who is eligible for a match going forward.

Larson said the envelopes didn't contain an option to commit to the five-year challenge because 'his announcement of matching the gifts was a surprise to everyone, including us.'

Because Pappajohn brought the $10,000 to campus and then gave it to students for the purpose of hooking them on philanthropy, Larson said, he will receive any tax benefits related to the donations.

Of course, students who continue giving could receive tax deductions in the future. And UI senior Caitlyn Tekippe, 21, said she thinks the match incentive could motivate future donations — helping 'poor college students' make the most of their giving.

'We don't really have the money to give a lot,' she said.