University of Minnesota Foundation

Analysis

University of Minnesota Foundation is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in July 1964, 62 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, University of Minnesota Foundation reported income of $428.1m and spending of $329.7m, leaving 23% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $277.6m to $428.1m (+54%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 171%. Over the whole period it spent 69% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of Minnesota Foundation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MN. Charities of a similar size with the same main cause include Indiana University Foundation ($426.1m), The Corporation of Mercer University ($434.7m) and Fairfield University ($424.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% of the total. Compensation of current officers, directors and key employees was $3.6m (1.1% of expenses). Other salaries and wages came to $23.6m. At year end it held assets of $4.48bn against liabilities of $469.9m, net assets of $4.01bn. It reported 54 employees.