University Of Minnesota Foundation Investment Advisors
- Assets
- $2.7m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 9
- Location
- Minneapolis, MN
- Founding
- 06/2000
- Data as of
- 06/2022
- EIN
- 41-1931343
Organization Overview
University Of Minnesota Foundation Investment Advisors is located in Minneapolis, MN. The organization was established in 2000. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, University Of Minnesota Foundation Investment Advisors employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Minnesota Foundation Investment Advisors is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, University Of Minnesota Foundation Investment Advisors generated $5.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $5.2m during the year ending 06/2022. While expenses have increased by 9.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE HIGHEST LEVEL OF STEWARDSHIP FOR UNIVERSITY DONORS THROUGH PROFESSIONAL MANAGEMENT AND OVERSIGHT OF THE UNIVERSITY OF MINNESOTA FOUNDATION'S ASSETS BY CREATING A FOCUSED INVESTMENT ENVIRONMENT WITH CLARITY OF PURPOSE, APPROPRIATE FLEXIBILITY, AND FREEDOM TO FOCUS ON INVESTMENT-RELATED ISSUES.
Describe the Organization's Program Activity:
THE CORPORATION OVERSEES THE MANAGEMENT OF THE UNIVERSITY OF MINNESOTA FOUNDATION'S FINANCIAL ASSETS. THE UNIVERSITY OF MINNESOTA FOUNDATION (FOUNDATION) DETERMINED THAT THE GROWTH OF ITS ASSETS AND DIVERSIFICATION OF ITS PORTFOLIO NECESSITATE A MORE EFFECTIVE METHOD OF MANAGEMENT. THEREFORE, THE FOUNDATION CREATED THE CORPORATION IN 1998 TO BE SOLELY RESPONSIBLE FOR THE DAY-TO-DAY OVERSIGHT OF THE MANAGEMENT OF THE FOUNDATION'S ASSETS. THE CORPORATION'S STREAMLINED STRUCTURE ENABLES IT TO RETAIN A HIGH CALIBER CHIEF INVESTMENT OFFICER. IT ALSO ENABLES THE CORPORATION TO ATTRACT COMMUNITY BOARD MEMBERS WITH FINANCIAL EXPERTISE, TO MORE EFFECTIVELY UTILIZE THE FINANCIAL AND INVESTMENT EXPERTISE OF ITS BOARD MEMBERS, MORE RAPIDLY RESPOND TO CHANGING MARKET CONDITIONS, AND PROVIDE MORE EFFECTIVE OVERSIGHT OF THE ACTIVITIES OF ITS OUTSIDE INVESTMENT MANAGERS. THE CORPORATION ALSO PROVIDES SERVICES TO ONE OTHER CHARITABLE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas J Gorence President | Officer | 40 | $1,452,164 |
Andrew J Behrens Chief Investment Officer | Officer | 40 | $699,374 |
Daniel J Arlandson Investment Director | 40 | $492,477 | |
Jeffrey M Rodgers Investment Director | 40 | $489,649 | |
David T Walkosz Controller | 40 | $221,431 | |
Grant Larson Investment Analyst | 40 | $115,532 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gardner Builders Minneapolis Llc Building Contractor | 6/29/22 | $366,276 |
Bloomberg Lp Data Services | 6/29/22 | $312,595 |
Intereum Building Contractor | 6/29/22 | $162,362 |
Korn Ferry Organizational Consulting | 6/29/22 | $142,210 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,244,210 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,244,210 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,172,930 |
| Compensation of current officers, directors, key employees. | $271,696 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,687,447 |
| Pension plan accruals and contributions | $177,561 |
| Other employee benefits | $45,050 |
| Payroll taxes | $121,154 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,442 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $552,294 |
| Advertising and promotion | $0 |
| Office expenses | $4,370 |
| Information technology | $41,828 |
| Royalties | $0 |
| Occupancy | $142,750 |
| Travel | $28,182 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,027 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,593 |
| Insurance | $28,393 |
| All other expenses | $16,056 |
| Total functional expenses | $5,244,210 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $248,886 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,195,490 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $226,243 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,077,479 |
| Total assets | $2,748,098 |
| Accounts payable and accrued expenses | $1,463,522 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,077,479 |
| Total liabilities | $2,541,001 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $207,097 |
| Total liabilities and net assets/fund balances | $2,748,098 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Sioux Falls Christian Schools Association Sioux Falls, SD | $33,580,780 | $15,294,565 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Grinnell College Medical Benefit Plan Trust Agreement Grinnell, IA | $11,174,588 | $9,791,771 |
University Of Wisconsin-Eau Claire Foundation Inc Eau Claire, WI | $103,402,476 | $22,599,486 |
Iowa State University Research Park Corp Ames, IA | $68,199,725 | $11,124,615 |
Minnesota State University Mankato Foundation Incorporated Mankato, MN | $77,015,205 | $9,285,148 |
University Gateway Corporation Minneapolis, MN | $78,655,248 | $6,023,242 |
Charles & Ellora Alliss Educational Foundation Milwaukee, WI | $87,576,345 | $9,781,011 |
Iowa High School Athleticassociation Boone, IA | $17,327,220 | $5,760,245 |
St Cloud State University Foundation Inc St Cloud, MN | $54,919,652 | $10,818,973 |