Form 990 for tax year 2024

Filed by UNIVERSITY OF MINNESOTA FOUNDATION.

Totals

Total revenue: $586,199,341
Total expenses: $383,185,554
Contributions and grants received: $342,224,885
Grants paid: $304,014,073
Program services expenses (Part IX): $304,014,073
Management and general expenses: $30,874,738
Fundraising expenses: $48,296,743
Program service expenses (Part III): $304,014,073

Program services were 79.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

KATHLEEN M SCHMIDLKOFER

PRESIDENT/CEO (UNTIL 6/30/2025)

Total calculated

$788,382

From this org

$739,480

From related orgs

$0

Other

$48,902

Hours/week

40 + 0.4 related

Schedule J breakdown matched by us

Base

$520,832

Bonus

$217,460

Other

$1,188

Deferred

$34,500

Nontaxable benefits

$14,402

Filer's total

$788,382
JOHN MORRIS

PRESIDENT/CEO (STARTED 5/1/2025)

Total calculated

$0

Hours/week

40 + 0.4 related
KENNETH C GLASER

TRUSTEE/CHAIR

Total calculated

$0

Hours/week

0.4
SHARI L BALLARD

TRUSTEE (UNTIL 11/7/2024)

Total calculated

$0

Hours/week

0.4
JACQUELINE R WILLIAMS-ROLL

TRUSTEE/PAST CHAIR

Total calculated

$0

Hours/week

0.4
ABDUL M OMARI PHD

TRUSTEE/VICE CHAIR

Total calculated

$0

Hours/week

0.4
ROGER J SIT

TRUSTEE/TREASURER

Total calculated

$0

Hours/week

0.4
THOMAS G OLSON

TRUSTEE/SECRETARY

Total calculated

$0

Hours/week

0.4
WEMIMO S ABBEY MPA

TRUSTEE

Total calculated

$0

Hours/week

0.4
BLYTHE A BRENDEN

TRUSTEE

Total calculated

$0

Hours/week

0.4
DOROTHY J BRIDGES

TRUSTEE

Total calculated

$0

Hours/week

0.4
LYNN CASEY

TRUSTEE

Total calculated

$0

Hours/week

0.4
REBECCA A CROOKS-STRATTON

TRUSTEE

Total calculated

$0

Hours/week

0.4
REBECCA M CUNNINGHAM MD

TRUSTEE

Total calculated

$0

Hours/week

0.4
MARY A DAVENPORT

TRUSTEE (UNTIL 6/30/2025)

Total calculated

$0

Hours/week

0.4
KATHIE EILAND-MADISON

TRUSTEE

Total calculated

$0

Hours/week

0.4
ACOOA ELLIS

TRUSTEE

Total calculated

$0

Hours/week

0.4
MICHAEL B FITERMAN

TRUSTEE

Total calculated

$0

Hours/week

0.4
W ANDERS FOLK JD

TRUSTEE

Total calculated

$0

Hours/week

0.4
JULIE E GILBERT

TRUSTEE

Total calculated

$0

Hours/week

0.4
KURT E HEIKKILA

TRUSTEE (UNTIL 11/7/2024)

Total calculated

$0

Hours/week

0.4
PAHOUA HOFFMAN

TRUSTEE

Total calculated

$0

Hours/week

0.4
HOYT M HSIAO

TRUSTEE

Total calculated

$0

Hours/week

0.4
DOUGLAS A HUEBSCH

TRUSTEE

Total calculated

$0

Hours/week

0.4
MICHAEL H JOHNSON

TRUSTEE

Total calculated

$0

Hours/week

0.4
RUTH E JOHNSON

TRUSTEE

Total calculated

$0

Hours/week

0.4
JAMES K LEE

TRUSTEE

Total calculated

$0

Hours/week

0.4
MICHAEL P LEHAN

TRUSTEE

Total calculated

$0

Hours/week

0.4
BETH KIEFFER LEONARD

TRUSTEE

Total calculated

$0

Hours/week

0.4
ROSS LEVIN

TRUSTEE

Total calculated

$0

Hours/week

0.4 + 0.4 related
JOHN E LINDAHL

TRUSTEE

Total calculated

$0

Hours/week

0.4
LAURIE MARSH

TRUSTEE

Total calculated

$0

Hours/week

0.4
DAVID J MCMILLAN JD

TRUSTEE

Total calculated

$0

Hours/week

0.4
KATHERINE A NELSON PHD

TRUSTEE

Total calculated

$0

Hours/week

0.4
LEA B OLSEN

TRUSTEE

Total calculated

$0

Hours/week

0.4
LISA OPOKU JD

TRUSTEE

Total calculated

$0

Hours/week

0.4
RICHARD T OSTLUND JD

TRUSTEE (UNTIL 11/7/2024)

Total calculated

$0

Hours/week

0.4
BETHANY M OWEN

TRUSTEE

Total calculated

$0

Hours/week

0.4
LYNNE REDLEAF

TRUSTEE

Total calculated

$0

Hours/week

0.4
MICHAEL F ROMAN

TRUSTEE

Total calculated

$0

Hours/week

0.4
TY R SILBERHORN

TRUSTEE

Total calculated

$0

Hours/week

0.4
PHILIP E SORAN

TRUSTEE

Total calculated

$0

Hours/week

0.4
ESTA E STECHER

TRUSTEE

Total calculated

$0

Hours/week

0.4
DARRELL A THOMPSON

TRUSTEE

Total calculated

$0

Hours/week

0.4
ERIK M TORGERSON

TRUSTEE (UNTIL 11/7/2024)

Total calculated

$0

Hours/week

0.4
PETER A VORBRICH

TRUSTEE

Total calculated

$0

Hours/week

0.4 + 0.4 related
BRADFORD W WALLIN

TRUSTEE

Total calculated

$0

Hours/week

0.4
THERESA B WARD

TRUSTEE

Total calculated

$0

Hours/week

0.4 + 0.4 related
NANCY W STEFANI

TRUSTEE

Total calculated

$0

Hours/week

0.4
CHRISTINE K SEARSON

VICE PRESIDENT/CFO

Total calculated

$460,969

From this org

$388,286

From related orgs

$0

Other

$72,683

Hours/week

40 + 0.4 related

Schedule J breakdown matched by us

Base

$318,403

Bonus

$68,695

Other

$1,188

Deferred

$33,651

Nontaxable benefits

$39,032

Filer's total

$460,969
PAT MASCIA

UMFREA MANAGING DIRECTOR

Total calculated

$601,583

From this org

$542,850

From related orgs

$0

Other

$58,733

Hours/week

40

Schedule J breakdown matched by us

Base

$437,442

Bonus

$105,408

Other

$0

Deferred

$18,451

Nontaxable benefits

$40,282

Filer's total

$601,583
ROBERT J BURGETT

SENIOR ADVISOR (UNTIL 6/30/25)

Total calculated

$518,625

From this org

$457,446

From related orgs

$0

Other

$61,179

Hours/week

40

Schedule J breakdown matched by us

Base

$377,091

Bonus

$78,069

Other

$2,286

Deferred

$49,257

Nontaxable benefits

$11,922

Filer's total

$518,625
PATRICIA K PORTER

EXECUTIVE VICE PRESIDENT

Total calculated

$552,234

From this org

$470,753

From related orgs

$0

Other

$81,481

Hours/week

40

Schedule J breakdown matched by us

Base

$388,901

Bonus

$81,078

Other

$774

Deferred

$44,850

Nontaxable benefits

$36,631

Filer's total

$552,234
MICHAEL COHEN

VICE PRESIDENT

Total calculated

$324,952

From this org

$271,775

From related orgs

$0

Other

$53,177

Hours/week

40

Schedule J breakdown matched by us

Base

$223,705

Bonus

$47,656

Other

$414

Deferred

$23,246

Nontaxable benefits

$29,931

Filer's total

$324,952
SARAH E YOUNGERMAN

VICE PRESIDENT

Total calculated

$354,760

From this org

$292,178

From related orgs

$0

Other

$62,582

Hours/week

40

Schedule J breakdown matched by us

Base

$243,406

Bonus

$47,998

Other

$774

Deferred

$32,651

Nontaxable benefits

$29,931

Filer's total

$354,760
SOPHIA KHAN

VICE PRESIDENT

Total calculated

$354,682

From this org

$303,382

From related orgs

$0

Other

$51,300

Hours/week

40

Schedule J breakdown matched by us

Base

$250,878

Bonus

$52,090

Other

$414

Deferred

$26,120

Nontaxable benefits

$25,180

Filer's total

$354,682
CATHERINE MCGLINCH

SENIOR VICE PRESIDENT

Total calculated

$369,140

From this org

$300,668

From related orgs

$0

Other

$68,472

Hours/week

40

Schedule J breakdown matched by us

Base

$260,687

Bonus

$39,207

Other

$774

Deferred

$35,196

Nontaxable benefits

$33,276

Filer's total

$369,140
ELIZABETH PATTY

ASSOC VICE PRESIDENT (UNTIL 5/14/25)

Total calculated

$344,489

From this org

$290,390

From related orgs

$0

Other

$54,099

Hours/week

40

Schedule J breakdown matched by us

Base

$251,443

Bonus

$37,758

Other

$1,189

Deferred

$33,441

Nontaxable benefits

$20,658

Filer's total

$344,489
KRISTI FLANAGAN VILLAR

VICE PRESIDENT

Total calculated

$345,283

From this org

$290,703

From related orgs

$0

Other

$54,580

Hours/week

40

Schedule J breakdown matched by us

Base

$251,792

Bonus

$38,731

Other

$180

Deferred

$25,809

Nontaxable benefits

$28,771

Filer's total

$345,283
STEVEN M CORKERY

VICE PRESIDENT

Total calculated

$354,542

From this org

$290,661

From related orgs

$0

Other

$63,881

Hours/week

40

Schedule J breakdown matched by us

Base

$251,134

Bonus

$39,114

Other

$413

Deferred

$33,655

Nontaxable benefits

$30,226

Filer's total

$354,542
TRAVIS SMITH

SENIOR VICE PRESIDENT

Total calculated

$378,040

From this org

$319,213

From related orgs

$0

Other

$58,827

Hours/week

40

Schedule J breakdown matched by us

Base

$275,209

Bonus

$43,734

Other

$270

Deferred

$28,601

Nontaxable benefits

$30,226

Filer's total

$378,040

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

1a · Health or social club dues or initiation fees
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Independent compensation consultant
3 · Form 990 of other organizations
3 · Compensation survey or study
3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
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 1A: THE FOUNDATION PAYS THE SOCIAL CLUB DUES FOR THE MINNEAPOLIS CLUB. THE CLUB MEMBERSHIP IS UNDER THE FOUNDATION CEO'S NAME. THE FOUNDATION USES THE CLUB FOR DONOR CULTIVATION, BOARD MEETINGS, AND EXECUTIVE MEETINGS. THE CEO PAYS FOR THEIR PERSONAL USAGE OF THE CLUB. THE FOUNDATION MONITORS AND REVIEWS THE PERSONAL USAGE VS. BUSINESS USAGE OF THE CLUB AND APPLIES THE PERSONAL % OF USE TO THE CLUB DUES AND INCLUDES IN THE TAXABLE WAGES OF THE FOUNDATION CEO. THE CLUB EXPENSES ARE REVIEWED BY THE FOUNDATION'S CFO.

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

UNIVERSITY OF MINNESOTA

$294,797,625

THE FOUNDATION PROVIDES FUND GRANTS TO AND FOR THE BENEFIT OF THE UNIVERSITY OF MINNESOTA.
FAIRVIEW HEALTH SERVICES

$5,554,400

FUND GRANTS TO SUPPORT THE UNIVERSITY OF MINNESOTA HOSPITAL AND CLINICAL PROGRAMMING AT M HEALTH FAIRVIEW.
UNIVERSITY GATEWAY CORPORATION

$1,300,000

FUND GRANT TO SUPPORT THE UNIVERSITY GATEWAY CORPORATION - A FACILITY THAT SUPPORTS THE UNIVERSITY OF MINNESOTA.
BETA OF CLOVIA FOUNDATION

$806,253

BETA OF CLOVIA FOUNDATION ESTABLISHED THEIR OWN 501(C)3. FUND GRANT TO TRANSFER THE FUND BALANCE.
RHODE ISLAND HOSPITAL FOUNDATION

$547,033

FUND GRANT PER DONOR AGREEMENT TO MOVE FUNDS TO ANOTHER 501(C)3
MINNESOTA LANDSCAPE ARBORETUM FOUNDATION

$353,576

THE MINNESOTA LANDSCAPE ARBORETUM FOUNDATION IS A RECOGNIZED FOUNDATION OF THE UNIVERSITY OF MINNESOTA.
UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION

$262,500

FUND GRANT TO SUPPORT THE UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION.
THE FOOD GROUP MINNESOTA INC

$203,266

FUND GRANT PER DONOR AGREEMENT TO MOVE FUNDS TO ANOTHER 501(C)3
EQUITY IN ACTION WAY FOUNDATION

$93,880

FUND GRANT PER DONOR AGREEMENT TO MOVE FUNDS TO ANOTHER 501(C)3
BOWEN CENTER FOR THE STUDY OF THE FAMILY

$64,257

FUND GRANT PER CHARITABLE REMAINDER TRUST AGREEMENT TO MAKE ANNUAL DISTRIBUTION OF ENDOWMENT PAYOUT.

The 10 largest by cash amount. The API serves every itemized grant.

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.

UNIVERSITY GATEWAY CORPORATION

501(C)(3) · FACILITY TO SUPPORT UNIVERSITY OF MINNESOTA · MN · controlled entity
UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS

501(C)(3) · INVESTMENT MANAGEMENT · MN · controlled entity

Provenance

Return type: form_990
Tax year: 2024
Filed: 31 March 2026
IRS schema version: 2024v5.5
Source object: 202630919349300223

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.