University of Minnesota Foundation reports record $464 million raised in fiscal year; endowment tops $4 billion

John Morris, president and CEO of the University of Minnesota Foundation (UMF), reported to the Board of Regents that donors contributed a record $464,000,000 to the university in the fiscal year ending June 30, 2025.

Morris said 88,770 donors made gifts to the university and that the UMF endowment had doubled over the past decade to roughly $4,000,000,000. He outlined the composition of gifts: $312,000,000 in cash and pledges (including $164,000,000 in pledge commitments), $159,000,000 in planned and future gifts, and roughly $3,000,000 in real property and in‑kind gifts.

Morris and his staff highlighted examples from donors and programs supported by philanthropy: an emergency financial assistance fund for cancer patients created by Gary and Nancy Grammons; St. Anthony Falls Laboratory research into stormwater pollutants supported by donor gifts; and a scholarship established by alumnus Stephen J. Thomas Jr. to support students who work while attending school. In video remarks and live comments, scholarship recipients described reduced financial stress and expanded opportunities.

Morris described UMF as an independent 501(c)(3) governed by a 43‑member board of trustees, two regents and the university president serve on that board, and roughly one quarter of trustees are nominated by the Board of Regents. He reiterated that the foundation distributes funds according to donor intent and said $304,000,000 in private support was put to use across the system during the fiscal year.

Regents thanked the foundation leadership for fundraising results and asked clarifying questions about donor intent and stewardship. Morris emphasized that the foundation honors donor intent and works with campus partners to ensure gifts are used as specified.

The foundation presentation was received as an information item; no board action was recorded at the meeting.