University Of Minnesota Foundation
- Assets
- $4.5b
- Revenue
- $428.1m
- Investments
- $2.4b
- Employees
- 54
- Location
- Minneapolis, MN
- Founding
- 07/1964
- Data as of
- 06/2023
- 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 06/2023, University Of Minnesota Foundation employed 54 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 06/2023, University Of Minnesota Foundation generated $428.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $329.7m during the year ending 06/2023. While expenses have increased by 2.9% per year over the past 8 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.
Since 2015, University Of Minnesota Foundation has awarded 70 individual grants totaling $1,916,246,468. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
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:
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 $75M TO STUDENT SUPPORT, $91M TO PROGRAM SUPPORT, $41M TO RESEARCH AND COMMUNITY OUTREACH/ENGAGEMENT, $33M TO FACULTY AND STAFF SUPPORT, AND $23M TO CAPITAL IMPROVEMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen M Schmidlkofer President/ceo | OfficerTrustee | 40 | $663,238 |
Jacqueline R Williams-Roll Trustee/chair | OfficerTrustee | 0.4 | $0 |
Shari L Ballard Trustee/past Chair | OfficerTrustee | 0.4 | $0 |
Kenneth C Glaser Trustee/vice Chair | OfficerTrustee | 0.4 | $0 |
Roger J Sit Trustee/treasurer | OfficerTrustee | 0.4 | $0 |
Thomas G Olson Trustee/secretary | OfficerTrustee | 0.4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Marketing Communication Resource Inc Printing And Publications | 6/29/23 | $783,393 |
Gabriel Group Printing And Publications | 6/29/23 | $613,140 |
Grenzebach Glier & Assoc Development Consulting Services | 6/29/23 | $430,551 |
Aldes Inc Janitorial And Painting Services | 6/29/23 | $418,345 |
Salo Llc Staffing Services | 6/29/23 | $398,846 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $800,255 |
| Related organizations | $650,669 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $263,179,255 |
| Noncash contributions included in lines 1a–1f | $26,587,753 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $264,630,179 |
| Total Program Service Revenue | $0 |
| Investment income | $48,944,590 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $54,948 |
| Net Rental Income | -$821,394 |
| Net Gain/Loss on Asset Sales | $112,285,324 |
| Net Income from Fundraising Events | $485,606 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $428,104,208 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $262,653,447 |
| 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. | $3,562,354 |
| Compensation of current officers, directors, key employees. | $1,542,279 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,648,865 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,638,534 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $323,436 |
| Fees for services: Accounting | $281,434 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,169,503 |
| Fees for services: Other | $2,862,562 |
| Advertising and promotion | $199,543 |
| Office expenses | $920,607 |
| Information technology | $796,675 |
| Royalties | $0 |
| Occupancy | $2,038,447 |
| Travel | $476,042 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $470,531 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $249,786 |
| Insurance | $258,985 |
| All other expenses | $766,766 |
| Total functional expenses | $329,663,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,180,248 |
| Savings and temporary cash investments | $940,591,346 |
| Pledges and grants receivable | $200,826,171 |
| 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 | $45,100,475 |
| Investments—publicly traded securities | $766,924,392 |
| Investments—other securities | $2,393,982,710 |
| Investments—program-related | $0 |
| Intangible assets | $53,161 |
| Other assets | $104,465,696 |
| Total assets | $4,484,124,199 |
| Accounts payable and accrued expenses | $31,574,661 |
| Grants payable | $0 |
| Deferred revenue | $791 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $403,964,684 |
| 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 | $34,364,431 |
| Total liabilities | $469,904,567 |
| Net assets without donor restrictions | $235,703,581 |
| Net assets with donor restrictions | $3,778,516,051 |
| 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 | $4,484,124,199 |
Grants Awarded
Over the last fiscal year, University Of Minnesota Foundation has awarded $262,653,447 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF MINNESOTA PURPOSE: THE FOUNDATION PROVIDES FUND GRANTS TO AND FOR THE BENEFIT OF THE UNIVERSITY OF MINNESOTA. | $251,175,356 |
FAIRVIEW HEALTH SERVICES PURPOSE: FUND GRANTS TO SUPPORT THE UNIVERSITY OF MINNESOTA HOSPITAL AND CLINICAL PROGRAMMING AT M HEALTH FAIRVIEW. | $6,769,246 |
MINNESOTA LANDSCAPE ARBORETUM FOUNDATION PURPOSE: THE MINNESOTA LANDSCAPE ARBORETUM FOUNDATION IS A RECOGNIZED FOUNDATION OF THE UNIVERSITY OF MINNESOTA. | $4,284,530 |
UNIVERSITY OF MINNESOTA PHYSICIANS PURPOSE: FUND GRANT TO SUPPORT THE UNIVERSITY OF MINNESOTA PHYSICIANS MILL CITY AND BROADWAY CLINICS. | $213,750 |
BOWEN CENTER FOR THE STUDY OF THE FAMILY PURPOSE: FUND GRANT PER CHARITABLE REMAINDER TRUST AGREEMENT TO MAKE ANNUAL DISTRIBUTION OF ENDOWMENT PAYOUT. | $60,565 |
UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION PURPOSE: FUND GRANT TO SUPPORT THE UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION. | $150,000 |