U gets 3 Fs: Foundation, football and fundraising

Cancer research and a new football stadium were key in helping the University of Minnesota Foundation raise a record $289 million.

By JEFF SHELMAN, Star Tribune

Last update: August 14, 2008 - 5:16 AM

A combination of cancer research and football helps explain why the University of Minnesota Foundation set another fundraising record.

Today, the University of Minnesota will announce that it received gifts and pledges of $289 million for the fiscal year that ended June 30. That is an increase of 15 percent from the $251 million raised during the 2007 fiscal year.

The Minnesota Masonic Charities provided $65 million for cancer research and care, the largest single gift ever made to the university. The total also includes $21.3 million earmarked for the under-construction TCF Bank Stadium.

"It was a remarkable year of private support for the university," U President Robert Bruininks said. "The Masons' new gift is the kind that makes it possible to expand significantly an area of research, in this case the prevention, diagnosis and treatment of cancer. Gifts from other donors are helping us meet other important priorities such as expanding access to students and funding exciting new facilities."

Other significant gifts included $12.5 million from the Shakopee Mdewakanton Sioux Community for the football stadium and university-wide scholarships, and $10 million from Jim Swenson, a UMD grad who lives in California, for scholarships and a new civil engineering building on the Duluth campus.

In his tenure as president, Bruininks has pushed for increased student financial support and $56 million was raised for scholarships in fiscal 2008.

Nearly 88,000 people and groups gave to the university in the fiscal year, a total that included 51,000 alumni.

The $289 million includes gifts to all of the U campuses, the U of M Foundation, Minnesota Medical Foundation, the Minnesota Landscape Arboretum Foundation and the 4-H Foundation.

In addition to the fundraising total, the foundation has named L. Steven Goldstein its chief executive officer. He replaces Gerald Fisher, who announced last year that he is stepping down from the position.

Goldstein, a previous president of the U of M Alumni Association, has extensive experience in media and venture capital.

"He 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," Bruininks said.

Jeff Shelman • 612-673-7478