Overview
What is University Of Minnesota Foundation?
The University of Minnesota Foundation is a Minneapolis-based non-profit organization dedicated to supporting the University of Minnesota. With a mission to inspire generosity and connect passion with possibility, they fund various collegiate programs, including Academic Health Services, Athletics, Libraries, Minnesota Extension Service, Multi-Disciplinary and Special Projects, and Weisman Art Museum. Their grants also extend to other University-related foundations like the Minnesota Landscape Arboretum Foundation. With a diverse distribution of funds, they invest in student support, program support, research and community outreach/engagement, faculty and staff support, and capital improvements. The University of Minnesota has campuses in Minneapolis/St. Paul, Crookston, Duluth, Morris, and Rochester. The Foundation employs 46 individuals in their mission to strengthen the University.
Official website here: www.give.umn
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Star rating)
The University of Minnesota Foundation has achieved a perfect score of 100%, which reflects a strong emphasis on accountability and finance. This high rating indicates that the organization meets rigorous standards for transparency and effective management, showcasing a commitment to ethical practices and proper governance. Their fiscal health is bolstered by a majority of independent board members and a solid financial oversight structure.
Strengths noted in the evaluation include a robust program expense ratio of 78.76%, showcasing that a significant portion of their expenditures directly supports their mission. Additionally, the foundation exhibits excellent fundraising efficiency, with a ratio of $0.13 to raise a dollar, which is indicative of effective resource utilization. The organization has successfully maintained low liabilities, ensuring financial stability.
While the foundation demonstrates numerous strengths, there are no noted limitations or concerns in the data provided. This reflects positively on their operational strategies and governance practices, making them a commendable choice for potential donors looking to support a well-managed nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is University Of Minnesota Foundation legitimate?
University Of Minnesota Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Of Minnesota Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $4,217,838
Professional Fundraising Fees: $0
Other Salaries and Wages: $25,717,038
For more financial information, click here
Official website here: www.give.umn
What is the mission statement of University Of Minnesota Foundation?
The University of Minnesota Foundation is a non-profit organization committed to connecting passions with possibilities and inspiring generosity to support the University of Minnesota. Its mission encompasses three main goals: connecting, inspiring, and supporting greatness at the university. By awarding grants to various collegiate programs, the foundation advances teaching, research, and community outreach. These grants contribute significantly to student support, program development, research initiatives, faculty and staff resources, and capital improvements at the university.
Official website here: www.give.umn
Who is the CEO of University Of Minnesota Foundation?
Kathleen M Schmidlkofer is the CEO of University Of Minnesota Foundation The CEO's salary of University Of Minnesota Foundation is $693,132 and their total compensation is $879,654.
Official website here: www.give.umn
What is the revenue of University Of Minnesota Foundation?
University Of Minnesota Foundation's revenue in 2024 was $524,006,934.
Official website here: www.give.umn
Who are the executives of University Of Minnesota Foundation and what are their salaries?
The average compensation at University Of Minnesota Foundation during 2024 was $623,643. There are 48 employees and 45 volunteers at University Of Minnesota Foundation.
Here are 59 key members and their salaries (University Of Minnesota Foundation's CEO's salary is $693,132 and their total compensation is $879,654):
- Compensation: $693,132
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- Compensation: $376,543
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- Compensation: $265,140
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- Compensation: $269,214
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- Compensation: $264,570
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- Compensation: $270,054
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- Other: $59,999
- Compensation: $300,654
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- Other: $55,255
Official website here: www.give.umn
Where can I find the form 990 for University Of Minnesota Foundation?
University Of Minnesota Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.give.umn
Learn more at the official website: www.give.umn
Mission Statement of University Of Minnesota Foundation
The University of Minnesota Foundation, a non-profit organization, is dedicated to connecting passions with possibilities, inspiring generosity, and supporting greatness at the University of Minnesota. With a mission to make a difference, the Foundation works tirelessly to fund various collegiate programs at the University of Minnesota.
Grants from the Foundation are distributed to support teaching, research, and community outreach initiatives. Among the programs receiving grants are Academic Health Services, Athletics, Libraries, Minnesota Extension Service, Multi-Disciplinary and Special Projects, and Weisman Art Museum. In addition, funds are allocated to other University-related foundations.
The University of Minnesota Foundation's efforts extend beyond its grants, as it plays a pivotal role in supporting students through student support initiatives, allocating $64 million in grants for this purpose. Furthermore, the organization provides program support, investing $51 million in various University programs. Research and community outreach/engagement projects are given $40 million in grants, while $29 million is allocated for faculty and staff support. Lastly, $18 million is dedicated to capital improvements.
By connecting passionate individuals with the University of Minnesota and its mission, the Foundation inspires generosity and supports the institution's growth and development. Through its grants to various programs and initiatives, the University of Minnesota Foundation fuels the University's pursuit of knowledge, innovation, and excellence.
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Impact
October, 2024
The University of Minnesota Foundation significantly enhances the academic and community outreach efforts of the University of Minnesota. It plays a crucial role in securing and distributing grants that bolster various collegiate programs aimed at teaching, research, and community engagement.
In recent years, the foundation has awarded substantial funding across different areas: $64 million dedicated to student support, $51 million for program support, and $40 million aimed at advancing research and community outreach initiatives. Additionally, it has allocated $29 million to support faculty and staff, along with $18 million for capital improvements, ensuring that the university infrastructure meets modern educational needs.
Through these contributions, the foundation connects individuals with a passion for education to meaningful opportunities, inspiring generosity and supporting the pursuit of excellence at the University of Minnesota. Its impact reaches across multiple campuses in Minneapolis/St. Paul, Crookston, Duluth, Morris, and Rochester, as well as extending its support to related organizations like the Minnesota Landscape Arboretum Foundation. The foundation's efforts ultimately foster an environment where both students and faculty can thrive, enhancing the university's role as a pillar of knowledge and community service.
This information is meant to be a general summary of University Of Minnesota Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $86,124,116
- Gross Receipts: $2,953,110,345
Assets and Liabilities:
- Total Assets: $4,264,297,877
- Total Liabilities: $419,393,483
- Net Assets: $3,844,904,394
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Organization Details
Founding Year
1962
Principal Officer
Christine K Searson
Website
www.give.umnNTEE Category
Code: B110 - Education
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