2012-05-10T13:53:44-05:00 2011-06-30 DELOITTE TAX LLP 50 SOUTH SIXTH STREET SUITE 2800 MINNEAPOLIS MN 55402 990 2010-07-01 416042488 UNIVERSITY OF MINNESOTA FOUNDATION UNIV 6126243333 200 OAK STREET SE NO 500 MINNEAPOLIS MN 554552010 KATHLEEN L PICKARD 6126243333 2012-04-30 1 6123974000 2010 2016-02-24 21:20:13Z L STEVEN GOLDSTEIN 200 OAK STREET SE STE 500 MINNEAPOLIS MN 554552010 249578282 0 X WWW.GIVING.UMN.EDU X 1962 MN ENGAGE RESOURCES TO BUILD AND SUSTAIN EXCELLENCE AT THE UNIVERSITY OF MINNESOTA (U OF M). 36 31 61 35 -2627402 -2647100 89310353 117962640 0 0 3203283 26701654 -7570737 -2261056 84942899 142403238 99207991 107022889 0 0 11895533 10640844 0 0 12895938 10225933 11889665 121329457 129553398 -36386558 12849840 1488204807 1727060886 218937566 247352472 1269267241 1479708414 X THE UNIVERSITY OF MINNESOTA FOUNDATION'S MISSION IS TO ENGAGE THE RESOURCES OF THE PRIVATE SECTOR TO BUILD AND SUSTAIN EXCELLENCE AT THE UNIVERSITY OF MINNESOTA. SEE SCHEDULE O. 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 FIVE CAMPUSES OF THE UNIVERSITY OF MINNESOTA. 0 0 107022889 107022889 GRANTS AWARDED TO OR ON BEHALF OF THE UNIVERSITY OF MINNESOTA COLLEGIATE PROGRAMS IN SUPPORT OF TEACHING, RESEARCH, AND OUTREACH TO THE COMMUNITY. GRANTS AWARDED IN SUPPORT OF EDUCATION TO THE OTHER U OF M PROGRAMS AND OTHER UNIVERSITY-RELATED FOUNDATIONS. OTHER UNIVERSITY PROGRAMS INCLUDE ATHLETICS, LIBRARIES, MINNESOTA EXTENSION SERVICE, MULTI-DISCIPLINARY AND SPECIAL PROJECTS, AND WEISMAN ART MUSEUM. OTHER UNIVERSITY-RELATED FOUNDATIONS INCLUDE THE MINNESOTA LANDSCAPE ARBORETUM, THE MINNESOTA MEDICAL FOUNDATION, AND THE MINNESOTA 4-H FOUNDATION. U OF M CAMPUSES ARE LOCATED IN MINNEAPOLIS/ST. PAUL, CROOKSTON, DULUTH, MORRIS, AND ROCHESTER. DISTRIBUTION BY PURPOSE INCLUDED $28M TO STUDENT SUPPORT, $32M TO ACADEMIC PROGRAMS, $21M TO FACILITIES, $15M TO FACULTY SUPPORT, AND $11M TO RESEARCH. 107022889 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 1 316 0 1 61 1 1 1 0 0 0 0 1 1 1 3 0 0 0 X 36 31 1 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 CA MN X X GRACIE A DAVENPORT 6126243333 200 OAK STREET SE SUITE 500 MINNEAPOLIS MN 554552010 L STEVEN GOLDSTEIN 40.00 X X 509009 0 48042 B KRISTINE JOHNSON 0.40 X X 0 0 0 CHARLES W MOOTY 0.40 X X 0 0 0 STANLEY S HUBBARD 0.40 X X 0 0 0 CHARLES M OSBORNE 0.40 X X 0 0 0 ROBERT H BRUININKS 0.40 X 0 452805 299099 E THOMAS SULLIVAN 0.40 X 0 336530 132121 RUTH G BACHMAN 0.40 X 0 0 0 SHARI L BALLARD 0.40 X 0 0 0 ROBERT E BUUCK 0.40 X 0 0 0 JON R CAMPBELL 0.40 X 0 0 0 LINDA A COHEN 0.40 X 0 0 0 MARTIN E DAVIS 0.40 X 0 0 0 MICHAEL J DAVIS 0.40 X 0 0 0 RICHARD K DAVIS 0.40 X 0 0 0 WILLIAM A HAWKINS III 0.40 X 0 0 0 DEBORAH L HOPP 0.40 X 0 0 0 ROBERT MA JOHNSON 0.40 X 0 0 0 ELLIOT S KAPLAN 0.40 X 0 0 0 DAVID M LARSON 0.40 X 0 0 0 ROSS LEVIN 0.40 X 0 0 0 NANCY E LINDAHL 0.40 X 0 0 0 WALTER F LING 0.40 X 0 0 0 ROBERT D MACDONALD III 0.40 X 0 0 0 SUSAN I MARVIN 0.40 X 0 0 0 LYNN A NAGORSKE 0.40 X 0 0 0 MARILYN CARLSON NELSON 0.40 X 0 0 0 DALE R OLSETH 0.40 X 0 0 0 WILLIAM PEDERSON 0.40 X 0 0 0 JORG A PIERACH 0.40 X 0 0 0 LOIS E QUAM 0.40 X 0 0 0 PATRICIA S SIMMONS 0.40 X 0 0 0 DEBRA A SIT 0.40 X 0 0 0 JAMES I SWENSON 0.40 X 0 0 0 KATHRYN H TUNHEIM 0.40 X 0 0 0 KURT D WINKELMANN 0.40 X 0 0 0 GEORGE H WINN 0.40 X 0 0 0 SIMON KAWO WONG 0.40 X 0 0 0 JAMES G AAGAARD 40.00 X 216597 0 41099 MARK L BAUMGARTNER 40.00 X 176980 0 28657 ROBERT J BURGETT 40.00 X 166278 0 26675 GERALD B FISCHER 18.00 X 242606 0 30739 LISA M MEYER 40.00 X 249112 0 39401 JULIE E PELZL 40.00 X 174610 0 24420 KATHLEEN L PICKARD 40.00 X 242564 0 41234 TAMMY LEE STANOCH 40.00 X 192445 0 43000 CHRISTOPHER R MAYR 40.00 X 160041 0 39744 YVONNE M GROSULAK 40.00 X 163422 0 20964 FRANCES B ROBERTSON 40.00 X 135063 0 36704 GRACIE A DAVENPORT 40.00 X 140640 0 24084 DEBRA NOLL 40.00 X 116747 0 22099 2886114 789335 898082 28 0 1 0 GRAY PLANT MOOTY MOOTY & BENNETT PA 500 IDS CENTER 80 SOUTH EIGHTH STR MINNEAPOLIS MN 554022100 LEGAL 282709 OLSON & CO INC 2375 MOMENTUM PLACE CHICAGO IL 606895323 PRINTING & PUBLICATIONS 227800 D'AMICO CATERING 275 MARKET ST SUITE C25 MINNEAPOLIS MN 554050000 CATERING 175194 MARKETING COMMUNICATION RESOURCE INC 4800 EAST 345TH STREET WILLOUGHBY OH 440944607 PRINTING & PUBLICATIONS 164077 GRENZEBACH GLIER & ASSOCIATES 401 N MICHIGAN AVENUE SUITE 2800 CHICAGO IL 606110000 CONSULTING 149607 6 1587014 116375626 11981679 117962640 9956626 9956626 24832 24832 2960808 2619294 341514 341514 341514 121300778 104555750 16745028 16745028 16745028 UNRELATED BUSINESS INC -2627402 -2627402 -2627402 142403238 0 -2627402 27068000 106938741 106938741 84148 84148 2432158 1016023 1416135 5222968 1726351 3496617 2985718 1169080 1816638 392858 392858 140156 140156 2648929 2648929 496201 118816 377385 104263 16668 87595 590390 269215 321175 141362 117125 24237 988611 988611 201062 20269 180793 121497 46427 75070 190913 190913 196307 196307 PROFESSIONAL DEVELOPMEN 3756828 0 0 3756828 PRINTING & PUBLICATIONS 736244 0 21033 715211 DONOR RECOGNITION 513517 0 13392 500125 ADDL INVESTMENT EXP 438937 0 438937 0 STATE UNRELATED BUSINES 849 0 849 0 230741 102612 128129 129553398 107022889 9634571 12895938 14241191 8350305 55280516 151276471 60955415 74148962 161801 101801 29225563 1375537 30027065 27850026 342599538 269635332 21600 984939281 1195676389 1488204807 1727060886 5410855 7482384 3100316 3350291 184319254 207484593 26107141 29035204 218937566 247352472 X 33505325 55186187 690994531 835676588 544767385 588845639 1269267241 1479708414 1488204807 1727060886 X 12849840 197591333 X 0 1 1 X 0 X 134898521 131589247 98672727 89310353 117962640 572433488 134898521 131589247 98672727 89310353 117962640 572433488 29603345 542830143 18141847 16325058 8859626 7606469 9811546 60744546 371706 1889739 2261445 1159037 319297 157300 1635634 637075113 125025 0.85210 0.85580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 751695828 35715947 121161552 11442860 22426991 874703476 714533970 21575305 49885046 11200597 23097896 751695828 899084504 22961210 -177608222 11710637 18192885 714533970 0.01000 0.62000 0.37000 1 0 5292007 5292007 19888281 508489 19379792 2711961 300174 2411787 1333314 566874 766440 27850026 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 23898480 ASSETS HELD IN CHARITABLE TRUSTS 28276326 BENEFICIAL INTEREST IN TRUSTS 3344687 GIFT ANNUITIES INVESTED WITH THIRD PARTY 1787212 OTHER RECEIVABLES 554595 ACCRUED INTEREST RECEIVABLE 1280680 FIXED INCOME 23597127 GLOBAL EQUITY 195931283 HEDGE FUNDS 345090879 CONTINUATION FROM SCH. D, PART X, LINE 15: OTHER INVESTMENTS 6233526 NATURAL RESOURCES 117861725 REAL ESTATE 71872408 PRIVATE EQUITY 375947461 1195676389 GIFT ANNUITIES PAYABLE 18744826 LIABILITY UNDER CHARITABLE TRUST AGREEMENTS 10290378 29035204 PART IV, LINE 2B: THE FOUNDATION MANAGES CERTAIN INVESTMENTS ON BEHALF OF OTHER CHARITABLE ORGANIZATIONS. THE MANAGEMENT OF THESE INVESTMENTS ARE SUBJECT TO AGREEMENTS WITH EACH THAT GOVERN THE ARRANGEMENTS, INCLUDING THE TIMING OF ADDITIONS AND REDEMPTIONS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: GRANTS AWARDED TO OR ON BEHALF OF THE UNIVERSITY OF MINNESOTA COLLEGIATE PROGRAMS IN SUPPORT OF TEACHING, RESEARCH, AND OUTREACH TO THE COMMUNITY. SCHEDULE D, PART X, LINE 2: FASB ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, PROVIDES THAT A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. INCOME TAX POSITIONS MUST MEET A MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD TO BE RECOGNIZED. THIS INTERPRETATION ALSO PROVIDES GUIDANCE ON MEASUREMENT RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. THE FOUDATION RECORDED NO LIABILITIES IN 2011 FOR UNRECOGNIZED TAX POSITIONS. CENTRAL AMERICA & THE CARIBBEAN 0 0 INVESTMENTS 458957043 EUROPE 0 0 INVESTMENTS 30640626 0 0 0 0 0 0 489597669 0 489597669 1 0 0 1 1 0 1 UNIVERSITY OF MINNESOTA 2221 UNIVERSITY AVE SE SUITE 111 MINNEAPOLIS MN 554140000 416007513 INTEGRAL PART OF MN 105587454 THE UNIVERSITY OF MINNESOTA FOUNDATION (UMF) PROVIDES FUND GRANTS TO AND FOR THE BENEFIT OF THE U OF M. MINNESOTA MEDICAL FOUNDATION 200 OAK STREET SE SUITE 300 MINNEAPOLIS MN 554550000 416027707 501(C)(3) 411337 THE MINNESOTA MEDICAL FOUNDATION (MMF) IS A RECOGNIZED FOUNDATION OF THE U OF M. OCCASIONALLY UMF RECEIVES GIFTS FOR MMF. MINNESOTA LANDSCAPE ARBORETUM FOUNDATION 3675 ARBORETUM DRIVE CHASKA MN 553180000 237081057 501(C)(3) 374304 THE MINNESOTA LANDSCAPE ARBORETUM FOUNDATION (MLAF) IS A RECOGNIZED FOUNDATION OF THE U OF M. OCCASSIONALLY UMF RECEIVES GIFTS FOR MLAF. MINNESOTA 4-H FOUNDATION 200 OAK STREET SE SUITE 270B MINNEAPOLIS MN 554550000 411408161 501(C)(3) 12693 THE MINNESOTA 4-H FOUNDATION (4-H) IS A RECOGNIZED FOUNDATION OF THE U OF M. OCCASSIONALLY UMF RECEIVES GIFTS FOR 4-H. UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION 200 OAK STREET SE SUITE 200 MINNEAPOLIS MN 554552040 410637089 501(C)(3) 8041 UNIVERSITY OF MINNESOTA ALUMNI ASSOCIATION (UMAA) PROMOTES ALUMNI, STUDENT AND FRIENDS IN SUPPORTING THE UNIVERSITY OF MINNESOTA. GRANTS WERE TO HELP WITH EXPENSES INCURRED FOR PUBLICATIONS RELATED TO THE UNIVERSITY. BIOCEE INC PO BOX 13057 MINNEAPOLIS MN 554145057 471745636 450000 BIOCEE, INC. PROMOTES THE U OF M'S ADVANCEMENT OF INTELLECTUAL PROPERTY THROUGH COMMERCIALIZATION. UNIVERSITY OF TENNESSEE 301 ANDY HOLT TOWER KNOXVILLE TN 379960000 626001636 GOV'T ENTITY 55056 TRANSFER OF RESEARCH FUNDS TO THE UNIVERSITY OF TENNESSEE. JACKIE ROBINSON FOUNDATION INC 75 VARICK STREET 2ND FLOOR NEW YORK NY 100130000 132896345 501(C)(3) 28000 THE FUND GRANTS TO THE JACKIE ROBINSON FOUNDATION, INC. ARE FOR SCHOLARSHIP RECIPIENTS TO ATTEND THE JACKIE ROBINSON LEADERSHIP WEEKEND IN NEW YORK CITY. 7 1 RECIPIENTS OF THE SIEHL PRIZE 2 75000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE UNIVERSITY OF MINNESOTA FOUNDATION HOLDS FUNDS TO BENEFIT THE UNIVERSITY OF MINNESOTA. THE VARIOUS DEPARTMENTS OF THE UNIVERSITY ARE RESPONSIBLE FOR REQUESTING FUND GRANTS TO BE TRANSFERRED TO THE UNIVERSITY WHEN NEEDED. THE FOUNDATION MAKES CERTAIN THE FUND GRANT USE MATCHES THE FUND PURPOSE AND THEN DISBURSES THE MONEY TO THE UNIVERSITY. THE UNIVERSITY OFFICE OF INTERNAL AUDIT REGULARLY AUDITS THE DEPARTMENTS TO MAKE SURE THE FUNDS ARE BEING USED FOR THE APPROPRIATE PURPOSES. THE FOUNDATION ENSURES THE TAX-EXEMPT STATUS OF ANY ORGANIZATION TO WHICH IT IS MOVING GRANT MONIES OR WHICH A GRANT WAS MADE. IN ADDITION, THE FOUNDATION ENSURES THE PURPOSE OF THE GRANT IS CLEARLY UNDERSTOOD BY THE TRANSFEREE ORGANIZATION. X X 1 1 X X X X X X 0 0 0 0 0 0 0 1 0 L STEVEN GOLDSTEIN 325812 0 164500 0 18697 0 31850 0 16192 0 557051 0 63000 0 ROBERT H BRUININKS 0 442092 0 0 0 10713 0 191097 0 108002 0 751904 0 0 E THOMAS SULLIVAN 0 314968 0 0 0 21562 0 116097 0 16024 0 468651 0 0 JAMES G AAGAARD 161005 0 53185 0 2407 0 21446 0 19653 0 257696 0 29880 0 MARK L BAUMGARTNER 154536 0 20540 0 1904 0 20457 0 8200 0 205637 0 0 0 ROBERT J BURGETT 145137 0 19305 0 1836 0 19165 0 7510 0 192953 0 0 0 GERALD B FISCHER 193132 0 28630 0 20844 0 18743 0 11996 0 273345 0 0 0 LISA M MEYER 185059 0 60800 0 3253 0 24547 0 14854 0 288513 0 34200 0 JULIE E PELZL 130272 0 42625 0 1713 0 17183 0 7237 0 199030 0 23940 0 KATHLEEN L PICKARD 179988 0 59840 0 2736 0 24159 0 17075 0 283798 0 33660 0 TAMMY LEE STANOCH 167330 0 10000 0 15115 0 23839 0 19161 0 235445 0 0 0 CHRISTOPHER R MAYR 130059 0 14950 0 15032 0 19295 0 20449 0 199785 0 0 0 YVONNE M GROSULAK 163422 0 0 0 0 0 8988 0 11976 0 184386 0 0 0 FRANCES B ROBERTSON 119191 0 15180 0 692 0 16181 0 20523 0 171767 0 0 0 GRACIE A DAVENPORT 121612 0 18815 0 213 0 16149 0 7935 0 164724 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS IS PROVIDED FOR THE SPOUSE OF CEO/PRESIDENT L. STEVEN GOLDSTEIN. HIS SPOUSE IS CONSIDERED A REPRESENTATIVE OF THE FOUNDATION. ALL SPOUSAL TRAVEL IS FOR BUSINESS PURPOSES. THE FOUNDATION PAYS THE SOCIAL CLUB DUES FOR THE MINNEAPOLIS CLUB. THE CLUB MEMBERSHIP IS UNDER L. STEVEN GOLDSTEIN'S NAME. THE FOUNDATION PAYS THE DUES AND USES THE CLUB FOR DONOR CULTIVATION, BOARD MEETINGS, AND COMMITTEE MEETINGS. THE FOUNDATION TRACKS THE PERSONAL USAGE VS. BUSINESS USAGE OF THE CLUB AND L. STEVEN GOLDSTEIN PAYS FOR HIS PERSONAL USAGE OF THE CLUB. THE CLUB EXPENSES ARE REVIEWED BY THE FOUNDATION'S CFO. THE FOUNDATION MONITORS AND REVIEWS THE PERSONAL USAGE VS. BUSINESS USAGE OF THE CLUB AND INCLUDES ANY PERSONAL USE OF THE CLUB IN THE TAXABLE WAGES OF L. STEVEN GOLDSTEIN. PART I, LINE 7 THE PERFORMANCE AWARD PROGRAM RECOGNIZES ELIGIBLE INDIVIDUALS WITH AN INCENTIVE OPPORTUNITY EACH FISCAL YEAR FOR SUCCESSFUL PERFORMANCE AND COMPLETION OF WORK PLAN ACCOUNTABILITIES AND PRE-DETERMINED GOALS. THE INCENTIVE IS VARIABLE, AT RISK, AND BASED ON A PERCENTAGE OF BASE SALARY. US BANCORP RICHARD K. DAVIS, PRESIDENT & CEO OF U.S. BANCORP, PARENT CO. OF U.S. BANK 204123 PAYMENTS TO U.S. BANK FOR BANKING AND TRUST FEES. 0 GRAY PLANT MOOTY MOOTY & BENNETT PA CHARLES W. MOOTY BROTHER TO THE CHAIR OF THE GRAY, PLANT, MOOTY BOARD 282709 PAYMENTS TO GRAY, PLANT, MOOTY, MOOTY & BENNETT, P.A FOR LEGAL SERVICES 0 X 218 3771039 OTHER X 5 447316 COST OR SELLING PRICE X 2 7750938 SALE OF SIMILAR PROPERTY X GRAIN 3 12386 COST/SELLING PRICE 3 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE FOUNDATION USES ACCOUNTS AT BROKERAGE FIRMS TO ACCEPT AND SELL GIFTS OF SECURITIES ON OUR BEHALF. FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIPS DISCLOSED THROUGH THE CONFLICT OF INTEREST POLICY (DESCRIBED BELOW IN REPONSE TO FORM 990, PART VI, SECTION B, LINE 12C) ARE AS FOLLOWS: TRUSTEE MARILYN CARLSON NELSON AND OFFICER GERALD B. FISCHER HAVE A BUSINESS RELATIONSHIP. TRUSTEES LINDA A. COHEN, DAVID M. LARSON, AND PATRICIA S. SIMMONS (REGENTS OF THE U OF M) HAVE A BUSINESS RELATIONSHIP WITH ROBERT H. BRUININKS AND E. THOMAS SULLIVAN (U OF M EMPLOYEES). FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF REGENTS OF THE UNIVERSITY OF MINNESOTA SHALL APPOINT AT LEAST ONE-FOURTH OF THE MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE CONTROLLER AND CHIEF FINANCIAL OFFICER, AS WELL AS AN EXTERNAL PAID PREPARER. AFTER THOSE REVIEWS ARE COMPLETE, THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE CHAIR BEFORE BEING PRESENTED TO THE FULL AUDIT COMMITTEE. FINALLY, A HARD COPY OF THE FORM IS DISTRIBUTED TO THE ENTIRE BOARD OF TRUSTEES BEFORE FILING THE RETURN. FORM 990, PART VI, SECTION B, LINES 12 -14 POLICIES HAVE BEEN ADOPTED BY THE UNIVERSITY OF MINNESOTA FOUNDATION BOARD AND AT THIS TIME HAVE NOT BEEN ADOPTED FOR UNIVERSITY OF MINNESOTA FOUNDATION - DINNAKEN HOUSING, LLC. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, TRUSTEE'S, AND HIGH LEVEL EMPLOYEES ARE REQUIRED ANNUALLY TO READ THE CONFLICT OF INTEREST POLICY AND DISCLOSE ANY INTERESTS THAT COULD BE OF CONFLICT. THE CFO AND ACCOUNTING STAFF REVIEW THE CONFLICT OF INTEREST FORMS FOR ANY POTENTIAL CONFLICTS. TO DATE, NO CONFLICTS OF INTEREST HAVE BEEN REPORTED. HOWEVER IF A POSSIBLE CONFLICT WAS REPORTED, THE CHAIR WOULD ASK THE PERSON IN CONFLICT TO ABSTAIN FROM DISCUSSIONS AND VOTING AND THE PERSON MAY EVEN BE ASKED TO RESIGN FROM THE BOARD IF NECESSARY TO BE IN COMPLIANCE WITH POLICY. IF A CONFLICT ARISES DURING THE YEAR, IT IS THE TRUSTEE'S RESPONSIBILITY TO DISCLOSE (PRIOR TO THE MEETING WHERE THE PROPOSED TRANSACTION OR ARRANGEMENT IS TO BE CONSIDERED) TO THE BOARD OF TRUSTEES OR THE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 AS A NON-PROFIT, THE FOUNDATION MUST DEMONSTRATE REASONABLE COMPENSATION FOR EXECUTIVE LEVEL POSITIONS (CEO AND OFFICERS). THE FOLLOWING ARE IN PLACE TO DOCUMENT AND SUPPORT EXECUTIVE COMPENSATION PRACTICES: ANNUALLY THE FOUNDATION PARTICIPATES IN AND REVIEWS MARKET SALARY DATA, INCLUDING NATIONAL FOUNDATIONS/UNIVERSITY DEVELOPMENT COMPENSATION SURVEY; BI-ANNUALLY NON-PROFITS CEO COMPENSATION SURVEY; TRACKING OF FORM 990 DATA OF OTHER NON-PROFIT FOUNDATIONS; LOCAL/NATIONAL SURVEYS. COMPENSATION REVIEW AND APPROVAL PROCESS CONSISTS OF: 1. EXECUTIVE STAFF COMPENSATION IS RECOMMENDED BY THE FOUNDATION CEO, PREVIEWED AND DISCUSSED WITH THE BOARD CHAIR AND HUMAN RESOURCES (HR) COMMITTEE CHAIR. COMPENSATION FOR THE CEO IS PREPARED BY THE BOARD CHAIR AND HR COMMITTEE CHAIR FOR REVIEW AND APPROVAL BY THE HR COMMITTEE. 2. PERFORMANCE AND COMPENSATION IS REVIEWED FOR DISCUSSION/QUESTIONS AND APPROVAL BY HR COMMITTEE OF THE BOARD OF TRUSTEES. IT IS NOTED THE HR COMMITTEE MEMBERS ARE "DISINTERESTED" PARTIES UNDER IRS INTERMEDIATE SANCTIONS. 3. THE CEO AND HR COMMITTEE CHAIR THEN PRESENT THE OFFICER COMPENSATION ACTIONS TO THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE FOR REVIEW AND RATIFICATION. THEN WITHOUT THE CEO PRESENT AND IN EXECUTIVE SESSION, THE BOARD CHAIR AND HR COMMITTEE CHAIR PRESENT CEO PERFORMANCE AND COMPENSATION FOR REVIEW AND RATIFICATION. THE APPROVALS OF THE CEO AND OFFICERS COMPENSATION ARE DOCUMENTED IN THE MEETING NOTES. THESE PROCEDURES ARE PERFORMED ANNUALLY FOR THE CEO AND OFFICERS WITH THE MOST RECENT BEING PERFORMED IN JULY 2011. IN EXECUTIVE SESSION OF THE QUARTERLY BOARD OF TRUSTEES MEETING EACH AUGUST, THE BOARD CHAIR AND HR COMMITTEE CHAIR REPORT TO THE FULL BOARD ON PERFORMANCE AND COMPENSATION FOR EXECUTIVES. FORM 990, PART VI, SECTION C, LINE 19 THE AUDITED CONSOLIDATED FINANCIAL STATEMENTS OF THE UNIVERSITY OF MINNESOTA FOUNDATION ARE AVAILABLE ON THE FOUNDATION'S WEBSITE OR ARE AVAILABLE UPON REQUEST. THE FOUNDATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 187,526,827. CHANGED IN CARRYING VALUE OF TRUSTS 7,437,104. UNRELATED BUSINESS INCOME 2,627,402. TOTAL TO FORM 990, PART XI, LINE 5: 197,591,333. UNIVERSITY OF MINNESOTA FOUNDATION - DINNAKEN HOUSING LLC 900 WASHINGTON AVE SE MINNEAPOLIS MN 554140000 274131769 REAL ESTATE RENTAL & LEASE DE 245353 34219029 N/A UNIVERSITY OF MINNESOTA 2221 UNIVERSITY AVE SE SUITE 111 MINNEAPOLIS MN 554140000 416007513 HIGHER EDUCATION MN INTEGRAL PART OF MN N/A 0 UNIVERSITY GATEWAY CORPORATION 200 OAK STREET SE SUITE 500 MINNEAPOLIS MN 554550000 411879994 FACILITY TO SUPPORT U OF M MN 501(C)(3) LINE 11, TYPE I: 509 N/A 0 UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS 220 SOUTH SIXTH STREET SUITE 1225 MINNEAPOLIS MN 554020000 411931343 INVESTMENT MANAGEMENT MN 501(C)(3) LINE 11, TYPE I: 509 N/A 1 SANTA ROSA ASSOCIATES II CO INDUSTRIAL REALTY COMPANY 1091 INDUSTRIAL ROAD SUITE 101 SAN CARLOS CA 940704118 942940288 CA N/A INVESTMENT/OTHER 1223 2413307 0 0 0.54000 MHRA LP 40 WEST 57TH STREET 24TH FLOOR NEW YORK NY 10019 134156814 INVESTMENT NY N/A INVESTMENT/OTHER -190927 13801940 0 0 0.87000 DONOR 1 BOOK TRUST 416471330 TRUST MN N/A T 3354160 1.00000 DONOR 2 TRUST 411926767 TRUST MN N/A T 9802907 1.00000 DONOR 3A&B 1996 CRUT 416418693 TRUST MN N/A T 50024 0.62000 DONOR 4A&B 1996 CRUT 416422163 TRUST MN N/A T 235989 0.70000 DONOR 5 1997 CRUT 416440382 TRUST MN N/A T 74427 0.80000 DONOR 6 1996 CRUT 416422169 TRUST MN N/A T 81054 0.77000 DONOR 7A&B 1998 CRUT 416441346 TRUST MN N/A T 68927 0.64000 DONOR 8 2001 CRUT 276000350 TRUST MN N/A T 98322 0.66000 DONOR 9 2008 CRUT 776280279 TRUST MN N/A T 86446 0.57000 DONOR 10 CRUT 776281940 TRUST MN N/A T 109704 0.65000 DONOR 11A&B 1996 CRUT 416421360 TRUST MN N/A T 52732 0.55000 DONOR 12 TRUST TRUST MN N/A T 9253858 1.00000 DONOR 13 1996 CRUT 416422164 TRUST MN N/A T 148583 0.81000 DONOR 14 CRUT 776271147 TRUST MN N/A T 105047 0.59000 DONOR 15 1994 CRUT 416392305 TRUST MN N/A T 1148270 0.75000 DONOR 16 CRUT 416467697 TRUST MN N/A T 35550 0.55000 DONOR 17A&B CRUT 776240402 TRUST MN N/A T 68607 0.66000 DONOR 18 CRUT 416348825 TRUST MN N/A T 87701 0.66000 DONOR 19 CRUT 742966152 TRUST MN N/A T 626450 0.52000 DONOR 20 CRUT 776256781 TRUST MN N/A T 69222 0.79000 DONOR 21 CRUT 776236902 TRUST MN N/A T 352819 0.65000 DONOR 22 A&B CRUT 416403631 TRUST MN N/A T 536784 0.65000 DONOR 23 UNITRUST TRUST MN N/A T 385292 1.00000 DONOR 24 CRUT 416203535 TRUST MN N/A T 481340 1.00000 DONOR 25 CRUT NO 2 416576567 TRUST MN N/A T 234215 1.00000 DONOR 26 CRUT 416203480 TRUST MN N/A T 342120 1.00000 DONOR 27 CRUT 306214961 TRUST MN N/A T 2911116 0.78000 DONOR 28A&B CRUT 416390293 TRUST MN N/A T 119051 0.80000 DONOR 29 CRUT 416466596 TRUST MN N/A T 65366 0.60000 DONOR 30 2000 CRUT 416475289 TRUST MN N/A T 531435 0.60000 DONOR 31 1994 CRUT 416396283 TRUST MN N/A T 115355 0.62000 DONOR 32 CRUT #1 237125220 TRUST MN N/A T 5707668 0.87000 DONOR 33 CRUT #2 510208925 TRUST MN N/A T 1193472 0.85000 DONOR 34 TRUST TRUST MN N/A T 226094 1.00000 DONOR 35A&B CRUT 116586011 TRUST MN N/A T 227206 0.70000 DONOR 36 TRUST 416204684 TRUST MN N/A T 639666 1.00000 DONOR 37 TRUST 416204683 TRUST MN N/A T 658822 1.00000 0 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 UNIVERSITY OF MINNESOTA FOUNDATION INVESTMENT ADVISORS L 2904962 CASH BASIS UNIVERSITY GATEWAY CORPORATION J 948449 CASH BASIS