UNIVERSITY OF MINNESOTA FOUNDATION

EIN: 416042488 501(c)(3) Education

MINNEAPOLIS, MN

Total Revenue
$586,199,341
Total Expenses
$383,185,554
Total Assets
$5,473,796,088
Net Assets
$4,770,740,227
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1962
Legal Domicile
MN
Principal Officer
CHRISTINE K SEARSON
Phone
6126243333
Tax Period
2024-07-01 to 2025-06-30

UNIVERSITY OF MINNESOTA FOUNDATION, founded in 1962, is a major nonprofit in the Education sector that reported $586.2M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $203.0M, a strong 35% operating margin.

Mission

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $342,224,885
Program Service Revenue $0
Investment Income $256,584,051
Other Revenue $-12,609,595
TOTAL REVENUE $586,199,341

Expense Breakdown

Grants Paid $304,014,073
Salaries & Benefits $43,718,822
Fundraising Expenses $48,296,743
Program Expenses $304,014,073
Other Expenses $35,452,659
TOTAL EXPENSES $383,185,554

Year-over-Year Comparison

2024 2023 Change
Revenue $586,199,341 $524,006,934 +0.1%
Expenses $383,185,554 $353,145,790 +0.1%
Net Income $203,013,787 $170,861,144 +0.2%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✓ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
43
Independent Members
42
Employees
41
Volunteers
46

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✓ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
9
$1,249,351
Total Directors
49
$788,382
Key Employees
6
$2,706,836
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATHLEEN M SCHMIDLKOFER PRESIDENT/CEO (UNTIL 6/30/2025) 40.00
Officer Director
$739,480 $48,902 $788,382
JOHN MORRIS PRESIDENT/CEO (STARTED 5/1/2025) 40.00
Officer Director
$0 $0 $0
KENNETH C GLASER TRUSTEE/CHAIR 0.40
Officer Director
$0 $0 $0
SHARI L BALLARD TRUSTEE (UNTIL 11/7/2024) 0.40
Officer Director
$0 $0 $0
JACQUELINE R WILLIAMS-ROLL TRUSTEE/PAST CHAIR 0.40
Officer Director
$0 $0 $0
ABDUL M OMARI PHD TRUSTEE/VICE CHAIR 0.40
Officer Director
$0 $0 $0
ROGER J SIT TRUSTEE/TREASURER 0.40
Officer Director
$0 $0 $0
THOMAS G OLSON TRUSTEE/SECRETARY 0.40
Officer Director
$0 $0 $0
WEMIMO S ABBEY MPA TRUSTEE 0.40
Director
$0 $0 $0
BLYTHE A BRENDEN TRUSTEE 0.40
Director
$0 $0 $0
DOROTHY J BRIDGES TRUSTEE 0.40
Director
$0 $0 $0
LYNN CASEY TRUSTEE 0.40
Director
$0 $0 $0
REBECCA A CROOKS-STRATTON TRUSTEE 0.40
Director
$0 $0 $0
REBECCA M CUNNINGHAM MD TRUSTEE 0.40
Director
$0 $0 $0
MARY A DAVENPORT TRUSTEE (UNTIL 6/30/2025) 0.40
Director
$0 $0 $0
KATHIE EILAND-MADISON TRUSTEE 0.40
Director
$0 $0 $0
ACOOA ELLIS TRUSTEE 0.40
Director
$0 $0 $0
MICHAEL B FITERMAN TRUSTEE 0.40
Director
$0 $0 $0
W ANDERS FOLK JD TRUSTEE 0.40
Director
$0 $0 $0
JULIE E GILBERT TRUSTEE 0.40
Director
$0 $0 $0
KURT E HEIKKILA TRUSTEE (UNTIL 11/7/2024) 0.40
Director
$0 $0 $0
PAHOUA HOFFMAN TRUSTEE 0.40
Director
$0 $0 $0
HOYT M HSIAO TRUSTEE 0.40
Director
$0 $0 $0
DOUGLAS A HUEBSCH TRUSTEE 0.40
Director
$0 $0 $0
MICHAEL H JOHNSON TRUSTEE 0.40
Director
$0 $0 $0
RUTH E JOHNSON TRUSTEE 0.40
Director
$0 $0 $0
JAMES K LEE TRUSTEE 0.40
Director
$0 $0 $0
MICHAEL P LEHAN TRUSTEE 0.40
Director
$0 $0 $0
BETH KIEFFER LEONARD TRUSTEE 0.40
Director
$0 $0 $0
ROSS LEVIN TRUSTEE 0.40
Director
$0 $0 $0
JOHN E LINDAHL TRUSTEE 0.40
Director
$0 $0 $0
LAURIE MARSH TRUSTEE 0.40
Director
$0 $0 $0
DAVID J MCMILLAN JD TRUSTEE 0.40
Director
$0 $0 $0
KATHERINE A NELSON PHD TRUSTEE 0.40
Director
$0 $0 $0
LEA B OLSEN TRUSTEE 0.40
Director
$0 $0 $0
LISA OPOKU JD TRUSTEE 0.40
Director
$0 $0 $0
RICHARD T OSTLUND JD TRUSTEE (UNTIL 11/7/2024) 0.40
Director
$0 $0 $0
BETHANY M OWEN TRUSTEE 0.40
Director
$0 $0 $0
LYNNE REDLEAF TRUSTEE 0.40
Director
$0 $0 $0
MICHAEL F ROMAN TRUSTEE 0.40
Director
$0 $0 $0
TY R SILBERHORN TRUSTEE 0.40
Director
$0 $0 $0
PHILIP E SORAN TRUSTEE 0.40
Director
$0 $0 $0
ESTA E STECHER TRUSTEE 0.40
Director
$0 $0 $0
DARRELL A THOMPSON TRUSTEE 0.40
Director
$0 $0 $0
ERIK M TORGERSON TRUSTEE (UNTIL 11/7/2024) 0.40
Director
$0 $0 $0
PETER A VORBRICH TRUSTEE 0.40
Director
$0 $0 $0
BRADFORD W WALLIN TRUSTEE 0.40
Director
$0 $0 $0
THERESA B WARD TRUSTEE 0.40
Director
$0 $0 $0
NANCY W STEFANI TRUSTEE 0.40
Director
$0 $0 $0
CHRISTINE K SEARSON VICE PRESIDENT/CFO 40.00
Officer
$388,286 $72,683 $460,969
PAT MASCIA UMFREA MANAGING DIRECTOR 40.00
Key Emp
$542,850 $58,733 $601,583
ROBERT J BURGETT SENIOR ADVISOR (UNTIL 6/30/25) 40.00
Key Emp
$457,446 $61,179 $518,625
PATRICIA K PORTER EXECUTIVE VICE PRESIDENT 40.00
Key Emp
$470,753 $81,481 $552,234
MICHAEL COHEN VICE PRESIDENT 40.00
Key Emp
$271,775 $53,177 $324,952
SARAH E YOUNGERMAN VICE PRESIDENT 40.00
Key Emp
$292,178 $62,582 $354,760
SOPHIA KHAN VICE PRESIDENT 40.00
Key Emp
$303,382 $51,300 $354,682
CATHERINE MCGLINCH SENIOR VICE PRESIDENT 40.00
Highest
$300,668 $68,472 $369,140
ELIZABETH PATTY ASSOC VICE PRESIDENT (UNTIL 5/14/25) 40.00
Highest
$290,390 $54,099 $344,489
KRISTI FLANAGAN VILLAR VICE PRESIDENT 40.00
Highest
$290,703 $54,580 $345,283
STEVEN M CORKERY VICE PRESIDENT 40.00
Highest
$290,661 $63,881 $354,542
TRAVIS SMITH SENIOR VICE PRESIDENT 40.00
Highest
$319,213 $58,827 $378,040
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $586,199,341 $383,185,554 $5,473,796,088 $203,013,787
2024 $524,006,934 $353,145,790 $4,888,350,212 $170,861,144
2023 $428,104,208 $329,663,282 $4,484,124,199 $98,440,926
2022 $372,579,336 $259,725,296 $4,264,297,877 $112,854,040
2021 $669,514,544 $255,977,022 $4,420,065,180 $413,537,522
2020 $247,493,306 $258,577,397 $3,368,130,769 $-11,084,091
2019 $277,579,789 $265,831,329 $3,303,486,247 $11,748,460
2018 $313,095,237 $248,961,516 $3,091,973,602 $64,133,721
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