University of Minnesota Foundation
University of Minnesota Foundation reported $586.2 million in revenue and $383.2 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $79.34 went to program services, $8.06 to management and general costs and $12.60 to fundraising. Its largest source of revenue was contributions and grants: 58.4% of the total. The highest compensation it reported for one person was $788,382 (PRESIDENT/CEO (UNTIL 6/30/2025)). 195 people received more than $100,000 in reportable compensation. Revenue rose 137% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $383MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $586MOther revenue was negative: −$13M. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 79.3% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 8.1% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 12.6% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.14 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 58.4% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $788,382 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.21% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 195 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 149.4 | 13.3 |
| Independent voting board members Part VI 1a–1b | 42 of 43 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseGrants 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 $85m to student…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT/CEO (UNTIL 6/30/2025) Director/trustee, officer, 40.00 hrs/week | $739,480 | $0 | $48,902 | $788,382 |
| UMFREA MANAGING DIRECTOR Key employee, 40.00 hrs/week | $542,850 | $0 | $58,733 | $601,583 |
| EXECUTIVE VICE PRESIDENT Key employee, 40.00 hrs/week | $470,753 | $0 | $81,481 | $552,234 |
| SENIOR ADVISOR (UNTIL 6/30/25) Key employee, 40.00 hrs/week | $457,446 | $0 | $61,179 | $518,625 |
| VICE PRESIDENT/CFO Officer, 40.00 hrs/week | $388,286 | $0 | $72,683 | $460,969 |
| SENIOR VICE PRESIDENT Highest compensated employee, 40.00 hrs/week | $319,213 | $0 | $58,827 | $378,040 |
| SENIOR VICE PRESIDENT Highest compensated employee, 40.00 hrs/week | $300,668 | $0 | $68,472 | $369,140 |
| VICE PRESIDENT Key employee, 40.00 hrs/week | $292,178 | $0 | $62,582 | $354,760 |
195 people received more than $100,000 in reportable compensation from University of Minnesota Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $4.0M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b43 · 42 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 541
- Volunteers Part I, line 646
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| 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 |
Individuals listed as contractors are left out. 41 contractors were paid more than $100,000 in all.
Private foundation grants it received
195 private foundations reported grants to University of Minnesota Foundation totaling $36M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from University of Minnesota Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for University of Minnesota Foundation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 University of Minnesota Foundation spent in FY2025, $79.34 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Carleton UniversityCanada, · revenue $582M · programs 95.2% · FY2026
- University of the PacificStockton, CA · revenue $588M · programs 95.5% · FY2025
- University of VictoriaCanada, · revenue $581M · programs 84.3% · FY2025
- Indiana University FoundationBloomington, IN · revenue $599M · programs 89.1% · FY2025
- Belmont UniversityNashville, TN · revenue $579M · programs 74.7% · FY2025
Questions people ask
How much of University of Minnesota Foundation's spending goes to programs?
In the fiscal year ending June 30, 2025, University of Minnesota Foundation reported that 79.3% of its $383.2 million in expenses went to program services, 8.1% to management and general and 12.6% to fundraising (Form 990, Part IX).
How much does University of Minnesota Foundation pay its top executive?
The largest total compensation University of Minnesota Foundation reported for one person in the fiscal year ending June 30, 2025 was $788,382, for the role of PRESIDENT/CEO (UNTIL 6/30/2025) (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does University of Minnesota Foundation get its money?
Of $586.2 million in revenue in the fiscal year ending June 30, 2025, 58.4% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is University of Minnesota Foundation a registered charity?
The IRS lists EIN 41-6042488 as a 501(c)(3) organization (organization operated for a governmental college or university), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202630919349300223 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202530719349301508 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202400869349301710 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202300769349300135 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202231129349300928 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202110759349300001 · read the filing
All filings for EIN 41-6042488: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.