Education

University of Minnesota Foundation

  • Minneapolis, MN
  • www.foundation.umn.edu

Mission Statement

To play a crucial role in building the margin of excellence at the University of Minnesota by securing private support.

ruling year

1964

Principal Officer

Self-reported

L. Steven Goldstein

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EIN

41-6042488

 Number

4703383841

Contact

Cause Area (NTEE Code)

Single Organization Support (B11)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

The Foundation advances the University's mission of teaching, research, and outreach to the community by raising and managing private dollars for scholarships, world-class faculty, leading-edge research, new facilities, and academic programs on all four campuses of the University of Minnesota. Grants awarded in support of education to the University of Minnesota and its programs.

Category

Population(s) Served

Budget

External Reviews

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

University of Minnesota Foundation
Fiscal year: Jul 01-Jun 30
Yes, financials were audited by an independent accountant.

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Operations

The people, governance practices, and partners that make the organization tick.

University of Minnesota Foundation

Leadership

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  • Forms 990 for 2015, 2014 and 2013
  • Board Chair
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Principal Officer

L. Steven Goldstein

BIO

The University of Minnesota Foundation Board of Trustees has named L. Steven Goldstein as their new president and CEO, effective immediately. He replaces Gerald B. Fischer, who is stepping down after 18 years in the position. ÒSteveÕs career as a business leader, venture capitalist and entrepreneur, as well as his leadership in the nonprofit community, make him the perfect choice at this time, when the demands for funding in higher education require new, innovative approaches for engaging the private sector,Ó said Elliot Kaplan, chair of the foundationÕs board. ÒAfter conducting a national search, aided by a national search firm, we determined that Steve stood out as the top candidate. He has the capabilities required for leading a large, complex organization, as well as extensive knowledge of the university and an exciting vision for expanding the opportunities for private support.Ó Goldstein has been a trustee of the University of Minnesota Foundation since 2000 and vice president of strategic initiatives since 2005, focusing on developing new revenue streams to support the University of MinnesotaÕs goal to become one of the top three public research universities in the world. ÒIÕve known and worked with Steve for many years,Ó said University of Minnesota president Robert Bruininks. ÒHe is a clear and strategic thinker, with the ability to bring the right people together to develop ideas and leverage the resources necessary to bring dreams to reality. I look forward to working with him as he brings these talents to bear on the work of the University of Minnesota Foundation.Ó Bruininks also applauded the accomplishments of Jerry Fischer in building philanthropic support for the university during the past two decades. ÒThe University of Minnesota Foundation is a crucial partner in helping the university achieve its strategic goals,Ó said Bruininks. ÒPrivate giving makes the difference between a mediocre and a great university. The tremendous growth in private support during JerryÕs two decades as head of the Foundation has helped us build a world-class university, fuel discovery in many important areas, provide financial support to thousands of students, and expand our educational activities far beyond our campus boundaries. Jerry is leaving an outstanding legacy and has put us in an excellent position for continued growth.Ó

Governance

BOARD CHAIR

B. Kristine Johnson

Affinity Capital Management

BOARD LEADERSHIP PRACTICES

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RESPONSE NOT PROVIDED

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?


RESPONSE NOT PROVIDED

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?


RESPONSE NOT PROVIDED

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?


RESPONSE NOT PROVIDED

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?


RESPONSE NOT PROVIDED

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?