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← UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS

Form 990 for tax year 2022

Filed by UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS.

Totals

Total revenue
$5,661,243
Total expenses
$5,661,243
Contributions and grants received
$0
Grants paid
$0
Program services expenses (Part IX)
$4,964,463
Management and general expenses
$696,780
Fundraising expenses
$0
Program service expenses (Part III)
$4,964,463

Program services were 87.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • KATHLEEN M SCHMIDLKOFER

    DIRECTOR

    Total calculated
    $776,633
    From this org
    $0
    From related orgs
    $663,238
    Other
    $113,395
    Hours/week
    0.4 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $474,048 related
    Bonus
    $0 + $188,416 related
    Other
    $0 + $774 related
    Deferred
    $0 + $100,500 related
    Nontaxable benefits
    $0 + $12,895 related
    Filer's total
    $0 + $776,633 related

  • JEFFREY V BAILEY

    CHAIR/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • PETER M GRANT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • B KRISTINE JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • ERWIN A KELEN

    DIRECTOR (UNTIL 11/1/2022)

    Total calculated
    $0
    Hours/week
    0.4

  • SRIRAM LAKSHMINARAYANAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • ROSS LEVIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4 + 0.4 related

  • DOUGLAS A NEIMANN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • MARCIA L PAGE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • PETER VORBRICH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4

  • THERESA WARD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4 + 0.4 related

  • DOUGLAS J GORENCE

    PRESIDENT (UNTIL 1/1/2023)

    Total calculated
    $1,635,933
    From this org
    $1,186,220
    From related orgs
    $0
    Other
    $449,713
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $663,055
    Bonus
    $175,875
    Other
    $347,290
    Deferred
    $446,975
    Nontaxable benefits
    $2,738
    Filer's total
    $1,635,933

  • ANDREW J BEHRENS

    PRESIDENT

    Total calculated
    $788,716
    From this org
    $752,116
    From related orgs
    $0
    Other
    $36,600
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $425,000
    Bonus
    $327,057
    Other
    $59
    Deferred
    $36,600
    Nontaxable benefits
    $0
    Filer's total
    $788,716

  • CHRISTINE K SEARSON

    SECRETARY/TREASURER

    Total calculated
    $414,491
    From this org
    $0
    From related orgs
    $349,101
    Other
    $65,390
    Hours/week
    0.4 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $292,337 related
    Bonus
    $0 + $55,990 related
    Other
    $0 + $774 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $34,890 related
    Filer's total
    $0 + $414,491 related

  • JEFFREY M RODGERS

    INVESTMENT DIRECTOR

    Total calculated
    $561,189
    From this org
    $519,114
    From related orgs
    $0
    Other
    $42,075
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $311,486
    Bonus
    $207,571
    Other
    $57
    Deferred
    $36,600
    Nontaxable benefits
    $5,475
    Filer's total
    $561,189

  • DANIEL J ARLANDSON

    INVESTMENT DIRECTOR

    Total calculated
    $558,936
    From this org
    $519,598
    From related orgs
    $0
    Other
    $39,338
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $311,937
    Bonus
    $207,571
    Other
    $90
    Deferred
    $36,600
    Nontaxable benefits
    $2,738
    Filer's total
    $558,936

  • DAVID T WALKOSZ

    CONTROLLER

    Total calculated
    $269,709
    From this org
    $235,451
    From related orgs
    $0
    Other
    $34,258
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,373
    Bonus
    $61,900
    Other
    $178
    Deferred
    $28,783
    Nontaxable benefits
    $5,475
    Filer's total
    $269,709

  • GRANT LARSON

    INVESTMENT ANALYST

    Total calculated
    $144,801
    From this org
    $123,912
    From related orgs
    $0
    Other
    $20,889
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
CERTAIN EMPLOYEES FOR THE UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS (CORPORATION) ARE PROVIDED THE OPPORTUNITY TO PARTICIPATE IN THE UMFIA SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (PLAN). THE PLAN IS INTENDED TO BE AN UNFUNDED PLAN MAINTAINED PRIMARILY FOR THE PURPOSE OF PROVIDING DEFERRED COMPENSATION FOR A SELECT GROUP OF MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES AS DESCRIBED IN SECTIONS 201(2), 301(A)(3), AND 401(A)(1) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 (ERISA). PARTICIPATION IN THIS PLAN IS CURRENTLY LIMITED TO THE PRESIDENT OF THE CORPORATION. ANNUAL CONTRIBUTIONS BY THE CORPORATION ARE BASED ON A PERCENTAGE OF THE EMPLOYEE'S BASE SALARY, SUCH PERCENTAGE BEING DETERMINED BY THE CORPORATION'S BOARD OF DIRECTORS IN ITS SOLE DISCRETION BASED ON THE BOARD'S ASSESSMENT OF THE EMPLOYEE'S CONTRIBUTIONS TO THE CORPORATION'S LONG TERM PERFORMANCE. PAYMENTS FROM THIS PLAN ARE SUBJECT TO A VESTING SCHEDULE AND ARE 100% VESTED UPON THE EARLIER TO OCCUR OF THE EMPLOYEE'S NORMAL RETIREMENT DATE, DISABILITY OR DEATH. THE TAXABLE PAYMENT TO DOUGLAS GORENCE IN CALENDAR YEAR 2022 WAS $346,528.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
19 March 2024
IRS schema version
2022v5.0
Source object
202400809349301005

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