University Of Minnesota Foundation
- Assets
- $4.4b
- Revenue
- $669.5m
- Investments
- $2.2b
- Employees
- 46
- Location
- Minneapolis, MN
- Founding
- 07/1964
- Data as of
- 06/2021
- EIN
- 41-6042488
Organization Overview
University Of Minnesota Foundation is located in Minneapolis, MN. The organization was established in 1964. 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 employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Minnesota Foundation 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 06/2021, University Of Minnesota Foundation generated $669.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $256.0m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, University Of Minnesota Foundation has awarded 70 individual grants totaling $1,855,632,340. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
A NON-PROFIT ORGANIZATION WITH THE SOLE PURPOSE OF SUPPORTING THE UNIVERSITY OF MINNESOTA WITH A MISSION TO CONNECT PASSION WITH POSSIBILITY, INSPIRE GENEROSITY, AND SUPPORT GREATNESS AT THE UNIVERSITY OF MINNESOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AWARDED TO OR ON BEHALF OF THE UNIVERSITY OF MINNESOTA COLLEGIATE PROGRAMS IN SUPPORT OF TEACHING, RESEARCH, AND OUTREACH TO THE COMMUNITY. GRANTS AWARDED IN SUPPORT OF EDUCATION TO U OF M PROGRAM INCLUDING ACADEMIC HEALTH SERVICES, ATHLETICS, LIBRARIES, MINNESOTA EXTENSION SERVICE, MULTI-DISCIPLINARY AND SPECIAL PROJECTS, AND WEISMAN ART MUSEUM. GRANTS TO OTHER UNIVERSITY-RELATED FOUNDATION INCLUDE THE MINNESOTA LANDSCAPE ARBORETUM FOUNDATION. U OF M CAMPUSES ARE LOCATED IN MINNEAPOLIS/ST. PAUL, CROOKSTON, DULUTH, MORRIS, AND ROCHESTER. DISTRIBUTION BY PURPOSE INCLUDED $64M TO STUDENT SUPPORT, $51M TO PROGRAM SUPPORT, $40M TO RESEARCH AND COMMUNITY OUTREACH/ENGAGEMENT, $29M TO FACULTY AND STAFF SUPPORT, AND $18M TO CAPITAL IMPROVEMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen M Schmidlkofer President/ceo | OfficerTrustee | 40 | $586,183 |
Pat Mascia Umfrea Managing Director | Officer | 40 | $433,333 |
Robert J Burgett Senior Vice President | Officer | 40 | $399,153 |
Patricia K Porter Vice President | Officer | 40 | $362,086 |
James G Aagaard Vice President | Officer | 40 | $288,220 |
Christine K Searson Vice President/cfo | Officer | 40 | $287,982 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grenzebach Glier & Assoc Development Consulting Services | 6/29/22 | $280,386 |
Marketing Communication Resource Inc Printing And Publications | 6/29/22 | $354,661 |
Architect Mechanical Inc Maintenance Services | 6/29/22 | $276,834 |
Stripe Credit Card Processing | 6/29/22 | $259,399 |
Aldes Inc Janitorial & Painting Services | 6/29/22 | $434,660 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $621,687 |
| Related organizations | $660,222 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $240,379,771 |
| Noncash contributions included in lines 1a–1f | $24,437,026 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $241,661,680 |
| Total Program Service Revenue | $0 |
| Investment income | $18,079,561 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $35,213 |
| Net Rental Income | -$723,518 |
| Net Gain/Loss on Asset Sales | $407,747,907 |
| Net Income from Fundraising Events | $213,701 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $669,514,544 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $201,561,671 |
| 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. | $3,247,453 |
| Compensation of current officers, directors, key employees. | $1,545,733 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,575,615 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,606,032 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $490,289 |
| Fees for services: Accounting | $240,146 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,258,755 |
| Fees for services: Other | $2,118,416 |
| Advertising and promotion | $55,764 |
| Office expenses | $646,449 |
| Information technology | $556,450 |
| Royalties | $0 |
| Occupancy | $1,886,814 |
| Travel | $7,550 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $186,590 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $417,142 |
| Insurance | $221,406 |
| All other expenses | $480,897 |
| Total functional expenses | $255,977,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,702,762 |
| Savings and temporary cash investments | $1,185,730,695 |
| Pledges and grants receivable | $208,760,918 |
| Accounts receivable, net | $0 |
| 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 | $47,749,066 |
| Investments—publicly traded securities | $636,463,855 |
| Investments—other securities | $2,189,803,595 |
| Investments—program-related | $0 |
| Intangible assets | $54,874 |
| Other assets | $117,799,415 |
| Total assets | $4,420,065,180 |
| Accounts payable and accrued expenses | $30,231,153 |
| Grants payable | $0 |
| Deferred revenue | $791 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $389,077,427 |
| 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 | $34,218,859 |
| Total liabilities | $453,528,230 |
| Net assets without donor restrictions | $230,130,197 |
| Net assets with donor restrictions | $3,736,406,753 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $4,420,065,180 |
Grants Awarded
Over the last fiscal year, University Of Minnesota Foundation has awarded $201,667,124 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF MINNESOTA PURPOSE: The Foundation provides fund grants to and for the benefit of the University of Minnesota. | $198,754,432 |
Minneapolis, MN PURPOSE: Fund grants to support the University of Minnesota Hospital and Clinical Programming at M Health Fairview | $1,796,489 |
Chaska, MN PURPOSE: The Minnesota Landscape Arboretum Foundation is a recognized foundation of the University of Minnesota. | $657,924 |
Minneapolis, MN PURPOSE: Fund grant to support the University of Minnesota Physicians Mill City and Broadway Clinics | $295,743 |
St Paul, MN PURPOSE: Fund grant to support the University of Minnesota Alumni Association. | $87,000 |
Washington, DC PURPOSE: Fund grant per charitable remainder trust agreement to make annual distribution of endowment payout. | $56,414 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that University Of Minnesota Foundation has recieved totaling $587,617.
| Awarding Organization | Amount |
|---|---|
Seeding The Future Foundation Wilmington, DE PURPOSE: THE SEED RESEARCH PROJECTS FROM THE SALON | $125,000 |
Cremona Foundation San Francisco, CA PURPOSE: TO PROVIDE STUDENT SUPPORT, COMMUNITY OUTREACH AND RESEARCH. | $100,000 |
Annexstad Family Foundation Mound, MN PURPOSE: SCHOLARSHIP | $85,982 |
Rosemary And David Good Family Foundation Minneapolis, MN PURPOSE: PROGRAM SUPPORT | $50,000 |
Patch Foundation Minneapolis, MN PURPOSE: EDUCATIONAL | $50,000 |
Harold Lee And Vernita Ruth Mceachern Family Foundation Inc Wilmington, DE PURPOSE: FUND FOR THE SOFTBALL COMPLEX IN MORRIS, MN | $50,000 |
Endowment Analysis
| Beg. Balance | $2,407,624,926 |
| Earnings | -$97,765,502 |
| Net Contributions | $221,961,122 |
| Other Expense | $33,234,069 |
| Grants | $29,247,149 |
| Ending Balance | $2,469,339,328 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Wisconsin Foundation Madison, WI | $5,692,461,410 | $739,045,115 |
University Of Minnesota Foundation Minneapolis, MN | $4,420,065,180 | $669,514,544 |
State University Of Iowa Foundation Iowa City, IA | $1,864,654,286 | $132,809,685 |
Iowa State University Foundation Ames, IA | $1,790,439,488 | $196,378,537 |
Und Aerospace Foundation Grand Forks, ND | $87,259,673 | $35,764,126 |
South Dakota State University Foundation Brookings, SD | $287,960,105 | $54,798,337 |
Und Alumni Association And Foundation Grand Forks, ND | $413,170,247 | $55,226,015 |
North Dakota State University Foundation Fargo, ND | $450,450,295 | $29,663,255 |
Northern State University Foundation Aberdeen, SD | $84,974,607 | $23,577,331 |
University Of South Dakota Foundation Vermillion, SD | $352,818,128 | $49,591,248 |
Ics Support Organization Inc Franklin, WI | $552,959,577 | $28,861,342 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |