University of Minnesota Foundation
79% goes to programs $14 to raise $100 Strong reserves Growing revenue
University of Minnesota Foundation is a 501(c)(3) organization based in Minneapolis, Minnesota, registered in 1964, with $586,199,341 in FY2024 revenue. CharityIndex grades it B+, and it directs about 79% of spending to programs.
200 Oak St Se Ste 500, Minneapolis, MN, 55455 EIN 41-6042488 Since 1964
Revenue (FY2024)
$586.2M
▲ 11.9% vs prior year
Education median: $200K
Expenses (FY2024)
$383.2M
Net assets
$4.8B
Employees
41
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
B+Program efficiency40% of the rating79% to programs · $14 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For University of Minnesota Foundation: 79% to programs · $14 to raise $100 earns a B+ on this criterion. See the exact thresholds →
B+Financial health25% of the rating149 mo reserves · +35% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For University of Minnesota Foundation: 149 mo reserves · +35% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For University of Minnesota Foundation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For University of Minnesota Foundation: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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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.
Contact & location
- Address
- 200 Oak St Se Ste 500, Minneapolis, MN, 55455
- City
- Minneapolis
- State
- Minnesota
- Category
- Education
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $247.6M (FY2013) to $586.2M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $703.1MNet assets $4.8B
Operating margin
34.6%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$5.5B
Total liabilities
$703.1M
Net assets
$4.8B
Salaries & benefits
$43.7M
11% of expenses
Board members
43
42 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $586,199,341▲11.9% | $383,185,554▲8.5% | $4,770,740,227▲9.3% | $5,473,796,088▲12.0% | 990 |
| 2023 | $524,006,934▲22.4% | $353,145,790▲7.1% | $4,362,889,250▲8.7% | $4,888,350,212▲9.0% | 990 |
| 2022 | $428,104,208▲14.9% | $329,663,282▲26.9% | $4,014,219,632▲4.4% | $4,484,124,199▲5.2% | 990 |
| 2021 | $372,579,336▼44.4% | $259,725,296▲1.5% | $3,844,904,394▼3.1% | $4,264,297,877▼3.5% | 990 |
| 2020 | $669,514,544▲171% | $255,977,022▼1.0% | $3,966,536,950▲30.8% | $4,420,065,180▲31.2% | 990 |
| 2019 | $247,493,306▼10.8% | $258,577,397▼2.7% | $3,031,812,492▲2.3% | $3,368,130,769▲2.0% | 990 |
| 2018 | $277,579,789▼11.3% | $265,831,329▲6.8% | $2,964,196,380▲6.5% | $3,303,486,247▲6.8% | 990 |
| 2017 | $313,095,237▲9.6% | $248,961,516▼14.2% | $2,782,652,884▲8.0% | $3,091,973,602▲7.2% | 990 |
| 2016 | $285,647,333▲4.5% | $290,138,625▲10.5% | $2,576,820,493▲4.9% | $2,883,685,781▲4.5% | 990 |
| 2015 | $273,241,140▼13.1% | $262,543,503▲9.6% | $2,457,568,962▲0.5% | $2,758,433,779▼0.4% | 990 |
| 2014 | $314,591,567▲27.1% | $239,647,200▲6.3% | $2,446,347,529▲6.2% | $2,769,387,308▲6.3% | 990 |
| 2013 | $247,570,551 | $225,549,400▲31.2% | $2,303,644,815▲10.5% | $2,605,288,970▲10.3% | 990 |
| 2012 | — | $171,933,630▲23.9% | $2,084,377,469▲38.5% | $2,361,694,458▲35.4% | 990 |
| 2011 | — | $138,780,368▲7.1% | $1,504,478,102▲1.7% | $1,744,419,146▲1.0% | 990 |
| 2010 | — | $129,553,398▲6.8% | $1,479,708,414▲16.6% | $1,727,060,886▲16.0% | 990 |
| 2009 | — | $121,329,457 | $1,269,267,241 | $1,488,204,807 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Kathleen M Schmidlkofer — $739,480 (0.19% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Kathleen M Schmidlkofer | President/ceo (until 6/30/2025) | 40 | $739,480 |
| Pat Mascia | Umfrea Managing Director | 40 | $542,850 |
| Patricia K Porter | Executive Vice President | 40 | $470,753 |
| Robert J Burgett | Senior Advisor (until 6/30/25) | 40 | $457,446 |
| Christine K Searson | Vice President/cfo | 40 | $388,286 |
| Travis Smith | Senior Vice President | 40 | $319,213 |
| Sophia Khan | Vice President | 40 | $303,382 |
| Catherine Mcglinch | Senior Vice President | 40 | $300,668 |
| Sarah E Youngerman | Vice President | 40 | $292,178 |
| Kristi Flanagan Villar | Vice President | 40 | $290,703 |
| Steven M Corkery | Vice President | 40 | $290,661 |
| Elizabeth Patty | Assoc Vice President (until 5/14/25) | 40 | $290,390 |
| Michael Cohen | Vice President | 40 | $271,775 |
| Abdul M Omari Phd | Trustee/vice Chair | 0.4 | — |
| Acooa Ellis | Trustee | 0.4 | — |
| Bethany M Owen | Trustee | 0.4 | — |
| Beth Kieffer Leonard | Trustee | 0.4 | — |
| Blythe A Brenden | Trustee | 0.4 | — |
| Bradford W Wallin | Trustee | 0.4 | — |
| Darrell A Thompson | Trustee | 0.4 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Huron Consulting Services | Development Consulting Services | $973,045 |
| Japs-olson Company | Printing and Publications | $598,609 |
| Ten X Ten LLC | Consulting Services | $412,365 |
| D'amico Catering | Catering | $363,051 |
| Russell Reynolds Associates | Consulting Services | $344,352 |
Grants received · $173.5M total
552 grants to University of Minnesota Foundation totaling $173.5M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Minneapolis Foundation | Donor advised, education | 2024 | $2,980,694 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $2,221,500 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Education | 2024 | $1,531,500 |
| Charities Aid Foundation America | Charitable donation | 2024 | $1,354,764 |
| American Online Giving Foundation Inc | General support | 2024 | $1,074,294 |
| American Endowment Foundation | Educational | 2024 | $772,750 |
| Rockefeller Philanthropy Advisors Inc | Science & technology | 2024 | $500,000 |
| American Gift Fund | Operations | 2024 | $372,650 |
| Greater Kansas City Community Foundation | Education | 2024 | $268,600 |
| United States Energy Foundation | To support education and outreach to build a clean energy future. | 2024 | $200,000 |
| Ecmc Group Inc | John depodesta leadership program, program sponsorship | 2024 | $193,700 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2024 | $169,029 |
| T Rowe Price Program For Charitable Giving Inc | Multiple | 2024 | $111,150 |
| Ayco Charitable Foundation | Education | 2024 | $110,650 |
| Raymond James Charitable Endowment Fund | General support | 2024 | $96,300 |
Grants made · $304.0M in FY2024
11 grants totaling $304.0M in FY2024. All grants made by University of Minnesota Foundation →
| Recipient | Purpose | Amount |
|---|---|---|
| University of Minnesota | The foundation provides fund grants to and for the benefit of the university of minnesota. | $294,797,625 |
| Fairview Health Services | Fund grants to support the university of minnesota hospital and clinical programming at m health fairview. | $5,554,400 |
| University Gateway Corporation | Fund grant to support the university gateway corporation - a facility that supports the university of minnesota. | $1,300,000 |
| Beta Chapter of Clovia Foundation | Beta of clovia foundation established their own 501(c)3. fund grant to transfer the fund balance. | $806,253 |
| Rhode Island Hospital Foundation | Fund grant per donor agreement to move funds to another 501(c)3 | $547,033 |
| Minnesota Landscape Arboretum Foundation | The minnesota landscape arboretum foundation is a recognized foundation of the university of minnesota. | $353,576 |
| United Brotherhood of Carpenters & Joiners of America | Fund grant to support the university of minnesota alumni association. | $262,500 |
| The Food Group Minnesota Inc | Fund grant per donor agreement to move funds to another 501(c)3 | $203,266 |
| Equity In Action Way Foundation | Fund grant per donor agreement to move funds to another 501(c)3 | $93,880 |
| Georgetown Family Center Inc | Fund grant per charitable remainder trust agreement to make annual distribution of endowment payout. | $64,257 |
| University of Minnesota Physicians | Fund grant to support the university of minnesota physicians mill city clinic. | $6,283 |
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Frequently asked questions
- Is University of Minnesota Foundation a legitimate nonprofit?
- Yes. University of Minnesota Foundation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 41-6042488, based in Minneapolis, Minnesota. Donations are tax-deductible.
- What is University of Minnesota Foundation's EIN?
- University of Minnesota Foundation's Employer Identification Number (EIN) is 41-6042488.
- How much revenue does University of Minnesota Foundation report?
- University of Minnesota Foundation reported $586,199,341 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of University of Minnesota Foundation's spending goes to programs?
- University of Minnesota Foundation spends about 79% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does University of Minnesota Foundation have?
- CharityIndex grades University of Minnesota Foundation B+, based on program efficiency and fundraising cost.
- How much does University of Minnesota Foundation's highest-paid employee make?
- The highest reported compensation on University of Minnesota Foundation's latest Form 990 is $739,480, paid to Kathleen M Schmidlkofer (President/ceo (until 6/30/2025)).
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Data for University of Minnesota Foundation (EIN 41-6042488) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.