Nonprofit · EIN 41-1931343
UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS
Tax-exempt · MINNEAPOLIS, MN 55401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $6,765,603 | $6,765,603 | $0 | $3,926,749 | $3,719,652 | $207,097 |
| June 30, 2024 | 990 | $5,939,742 | $5,939,742 | $0 | $3,385,534 | $3,178,437 | $207,097 |
| June 30, 2023 | 990 | $5,661,243 | $5,661,243 | $0 | $3,669,619 | $3,462,522 | $207,097 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $6,765,603
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,986,704
- Other salaries and wages
- $2,812,844
- Salaries, compensation and benefits (total)
- $5,470,320
- Professional fundraising fees
- $0
- Legal fees
- $1,267
- Occupancy
- $188,671
- Travel
- $64,248
- Depreciation
- $44,034
- Program services (functional)
- $5,997,398
- Management and general (functional)
- $768,205
Balance sheet and other
- Total assets, start of year
- $3,385,534
- Total assets, end of year
- $3,926,749
- Total liabilities, end of year
- $3,719,652
- Net assets, end of year
- $207,097
- Land, buildings and equipment
- $203,861
- Gross unrelated business income
- $1,167,113
- Gross receipts
- $6,765,603
- Employees
- 17
- Volunteers
- 10
- Year formed
- 1998
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ANDREW J BEHRENS | CHIEF INVESTMENT OFFICER & PRESIDENT Officer | 40 | $1,233,698 | $0 | $46,736 |
| KATHLEEN M SCHMIDLKOFER | DIRECTOR (UNTIL 5/1/2025) Trustee or director | 0.4 | $0 | $739,480 | $48,902 |
| JEFFREY M RODGERS | INVESTMENT DIRECTOR Highest-paid employee | 40 | $681,902 | $0 | $71,454 |
| DANIEL J ARLANDSON | INVESTMENT DIRECTOR Highest-paid employee | 40 | $680,780 | $0 | $56,941 |
| DOUGLAS J GORENCE | FORMER CHIEF INVESTMENT OFFICER EMERITUS Former | 0 | $522,786 | $0 | $20,543 |
| CHRISTINE K SEARSON | SECRETARY/TREASURER Officer | 0.4 | $0 | $388,286 | $72,683 |
| AMANDA ESCEN | CHIEF OPERATING OFFICER Officer | 40 | $357,869 | $0 | $72,745 |
| DAVID T WALKOSZ | DIRECTOR OF OPERATIONS Highest-paid employee | 40 | $260,299 | $0 | $68,315 |
| GRANT LARSON | INVESTMENT ANALYST Highest-paid employee | 40 | $184,976 | $0 | $46,838 |
| HOLLIE WILMA | ASSOCIATE DIRECTOR OF OPERATIONS Highest-paid employee | 40 | $111,882 | $0 | $26,478 |
| JEFFREY V BAILEY | CHAIR/DIRECTOR (UNTIL 5/1/2025) Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| DOUGLAS A NEIMANN | CHAIR/DIRECTOR Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| PETER A VORBRICH | VICE CHAIR/DIRECTOR Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| JACK HANSEN | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| SRIRAM LAKSHMINARAYANAN | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROSS LEVIN | DIRECTOR (UNTIL 5/1/2025) Trustee or director | 0.4 | $0 |
| JUDY MARES | DIRECTOR Trustee or director | 0.4 | $0 |
| JOHN MORRIS | DIRECTOR Trustee or director | 0.4 | $0 |
| MARCIA L PAGE | DIRECTOR (UNTIL 5/1/2025) Trustee or director | 0.4 | $0 |
| NII QUAYE | DIRECTOR Trustee or director | 0.4 | $0 |
| THERESA B WARD | DIRECTOR Trustee or director | 0.4 | $0 |
990 for the year ended June 30, 2024: 19 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DOUGLAS J GORENCE | CHIEF INVESTMENT OFFICER EMERITUS Highest-paid employee | 40 | $1,155,257 | $0 | $41,525 |
| ANDREW J BEHRENS | CHIEF INVESTMENT OFFICER AND PRESIDENT Officer | 40 | $931,838 | $0 | $39,600 |
| KATHLEEN M SCHMIDLKOFER | DIRECTOR Trustee or director | 0.4 | $0 | $693,132 | $186,522 |
| JEFFREY M RODGERS | INVESTMENT DIRECTOR Highest-paid employee | 40 | $600,863 | $0 | $47,350 |
| DANIEL J ARLANDSON | INVESTMENT DIRECTOR Highest-paid employee | 40 | $600,035 | $0 | $43,450 |
| CHRISTINE K SEARSON | SECRETARY/TREASURER Officer | 0.4 | $0 | $376,543 | $69,634 |
| AMANDA ESCEN | CHIEF OPERATING OFFICER Officer | 40 | $288,372 | $0 | $43,216 |
| DAVID T WALKOSZ | CONTROLLER Highest-paid employee | 40 | $245,801 | $0 | $37,864 |
| GRANT LARSON | INVESTMENT ANALYST Highest-paid employee | 40 | $156,066 | $0 | $27,231 |
| JEFFREY V BAILEY | CHAIR/DIRECTOR Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| PETER M GRANT | DIRECTOR (UNTIL 11/1/2023) Trustee or director | 0.4 | $0 | $0 | $0 |
| JACK HANSEN | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| B KRISTINE JOHNSON | DIRECTOR (UNTIL 11/1/2023) Trustee or director | 0.4 | $0 | $0 | $0 |
| SRIRAM LAKSHMINARAYANAN | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| ROSS LEVIN | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| DOUGLAS A NEIMANN | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| MARCIA L PAGE | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| PETER A VORBRICH | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| THERESA B WARD | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 18 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DOUGLAS J GORENCE | PRESIDENT (UNTIL 1/1/2023) Officer | 40 | $1,186,220 | $0 | $449,713 |
| ANDREW J BEHRENS | PRESIDENT Officer | 40 | $752,116 | $0 | $36,600 |
| KATHLEEN M SCHMIDLKOFER | DIRECTOR Trustee or director | 0.4 | $0 | $663,238 | $113,395 |
| JEFFREY M RODGERS | INVESTMENT DIRECTOR Highest-paid employee | 40 | $519,114 | $0 | $42,075 |
| DANIEL J ARLANDSON | INVESTMENT DIRECTOR Highest-paid employee | 40 | $519,598 | $0 | $39,338 |
| CHRISTINE K SEARSON | SECRETARY/TREASURER Officer | 0.4 | $0 | $349,101 | $65,390 |
| DAVID T WALKOSZ | CONTROLLER Highest-paid employee | 40 | $235,451 | $0 | $34,258 |
| GRANT LARSON | INVESTMENT ANALYST Highest-paid employee | 40 | $123,912 | $0 | $20,889 |
| JEFFREY V BAILEY | CHAIR/DIRECTOR Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| PETER M GRANT | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| B KRISTINE JOHNSON | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| ERWIN A KELEN | DIRECTOR (UNTIL 11/1/2022) Trustee or director | 0.4 | $0 | $0 | $0 |
| SRIRAM LAKSHMINARAYANAN | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| ROSS LEVIN | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| DOUGLAS A NEIMANN | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| MARCIA L PAGE | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| PETER VORBRICH | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
| THERESA WARD | DIRECTOR Trustee or director | 0.4 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 420 N 5TH ST STE 650, MINNEAPOLIS, MN 55401-2311
- Principal officer (990 for 2024)
- ANDREW BEHRENS, 420 N 5TH STREET 650, MINNEAPOLIS, MN 55401
- Signed the 990
- ANDREW BEHRENS, PRESIDENT AND CIO
- Phone
- (612) 767-1251
- Return prepared by
- RSM US LLP
Mission
TO PROVIDE THE HIGHEST LEVEL OF STEWARDSHIP FOR UNIVERSITY DONORS THROUGH PROFESSIONAL MANAGEMENT AND OVERSIGHT OF THE UNIVERSITY OF MINNESOTA FOUNDATION'S ASSETS BY CREATING A FOCUSED INVESTMENT ENVIRONMENT WITH CLARITY OF PURPOSE, APPROPRIATE FLEXIBILITY, AND FREEDOM TO FOCUS ON INVESTMENT-RELATED ISSUES.
Program accomplishments
- THE CORPORATION OVERSEES THE MANAGEMENT OF THE UNIVERSITY OF MINNESOTA FOUNDATION'S FINANCIAL ASSETS. THE UNIVERSITY OF MINNESOTA FOUNDATION (FOUNDATION) DETERMINED THAT THE GROWTH OF ITS ASSETS AND DIVERSIFICATION OF ITS PORTFOLIO NECESSITATE A MORE EFFECTIVE METHOD OF MANAGEMENT. THEREFORE, THE FOUNDATION CREATED THE CORPORATION IN 1998 TO BE SOLELY RESPONSIBLE FOR THE DAY-TO-DAY OVERSIGHT OF THE MANAGEMENT OF THE FOUNDATION'S ASSETS. THE CORPORATION'S STREAMLINED STRUCTURE ENABLES IT TO RETAIN A HIGH CALIBER CHIEF INVESTMENT OFFICER. IT ALSO ENABLES THE CORPORATION TO ATTRACT COMMUNITY BOARD MEMBERS WITH FINANCIAL EXPERTISE, TO MORE EFFECTIVELY UTILIZE THE FINANCIAL AND INVESTMENT EXPERTISE OF ITS BOARD MEMBERS, MORE RAPIDLY RESPOND TO CHANGING MARKET CONDITIONS, AND PROVIDE MORE EFFECTIVE OVERSIGHT OF THE ACTIVITIES OF ITS OUTSIDE INVESTMENT MANAGERS. THE CORPORATION ALSO PROVIDES SERVICES TO ONE OTHER CHARITABLE ORGANIZATION.Expenses $5,997,398 · revenue $5,598,490
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1931343
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2000
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B114)
- Assets (IRS master file)
- $3,926,749
- Income (IRS master file)
- $6,765,603
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $6,765,603 | $6,765,603 | $3,926,749 | XML |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $5,939,742 | $5,939,742 | $3,385,534 | XML |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $5,661,243 | $5,661,243 | $3,669,619 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $5,244,210 | $5,244,210 | $2,748,098 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1931343).
Questions about UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS
- What is the EIN of UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS?
- The employer identification number (EIN) of UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS is 41-1931343.
- Is UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
- Are donations to UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS?
- The 990 for the year ended June 30, 2025 names ANDREW BEHRENS.
- Who are the officers and directors of UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS?
- The 990 for the year ended June 30, 2025 lists 21 people; 8 received compensation from the organization, the highest $1,233,698 (ANDREW J BEHRENS, CHIEF INVESTMENT OFFICER & PRESIDENT).
- How much revenue does UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $6,765,603, expenses of $6,765,603 and total assets of $3,926,749 at year end.
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