Species belonging to the genus lived from the Pennsylvanian to the Permian and have been found in the Moscow basin, North America, Italy, Tunisia, and China.

[1][4][2][3] Members of the genus have thalli (leaflike photosynthetic structures) that are cyathiform (cuplike in shape.)

There are indications that asexual reproduction took place through budding of the thalli.

)[3] Bioherms (fossil algal mounds) constructed by Ivanovia are prominent in the Paradox Formation of the Colorado Plateau, where they are important petroleum reservoirs.

[5][6] It is possible that Ivanovia is a taphotaxon of Anchicondium or Eugonophyllum; that is, a characteristic diagenetic alteration of an original fossil organism that lacks taxonomic significance.