Civic Intelligence

University of Colorado Foundation

EIN 84-6049811 • 501(c)3 • Denver, CO

Profile

To receive, manage, and invest private support for the benefit of the university of colorado.

1800 Grant Street Suite 725Denver, CO 80203

www.cufund.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

35th percentile

0.19x

Higher debt load relative to assets than 35% of similar nonprofits.

501(c)3 • $1B+ nonprofits • Source year 2025

Liabilities / Revenue

81st percentile

1.49x

Higher debt load relative to revenue than 81% of similar nonprofits.

501(c)3 • $1B+ nonprofits • Source year 2025

Net Margin

86th percentile

35%

Higher net margin than 86% of similar nonprofits.

501(c)3 • $1B+ nonprofits • Source year 2025

Top Officer Pay

11th percentile

$526,064

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

501(c)3 • $1B+ nonprofits • Source year 2025

Asset Growth

61st percentile

9.8%

Faster asset growth than 61% of similar nonprofits.

501(c)3 • $1B+ nonprofits • Annualized from 2024 to 2025

Revenue Growth

85th percentile

33%

Faster revenue growth than 85% of similar nonprofits.

501(c)3 • $1B+ nonprofits • Annualized from 2024 to 2025

Assets

Up

$3,549,699,710

Up $316,142,092 (+9.8%) from 2024

Liabilities

Up

$680,794,933

Up $38,476,267 (+6.0%) from 2024

Net Assets

Up

$2,868,904,777

Up $277,665,825 (+11%) from 2024

Revenue

Up

$456,087,334

Up $113,896,835 (+33%) from 2024

Expenses

Up

$294,501,134

Up $12,693,255 (+4.5%) from 2024

Net Income

Up

$161,586,200

Up $101,203,580 (+168%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0B$3.0B$2.0B$1.0B$0Assets 2011: $1,229,718,321Liabilities 2011: $285,252,986Net Assets 2011: $944,465,3352011Assets 2012: $1,202,230,932Liabilities 2012: $280,464,751Net Assets 2012: $921,766,1812012Assets 2013: $1,327,866,222Liabilities 2013: $310,839,829Net Assets 2013: $1,017,026,3932013Assets 2014: $1,570,759,090Liabilities 2014: $367,503,495Net Assets 2014: $1,203,255,5952014Assets 2015: $1,629,994,000Liabilities 2015: $385,283,875Net Assets 2015: $1,244,710,1252015Assets 2016: $1,643,660,283Liabilities 2016: $371,732,448Net Assets 2016: $1,271,927,8352016Assets 2017: $1,890,930,203Liabilities 2017: $435,017,313Net Assets 2017: $1,455,912,8902017Assets 2018: $2,110,481,587Liabilities 2018: $465,404,615Net Assets 2018: $1,645,076,9722018Assets 2019: $2,247,296,786Liabilities 2019: $491,515,724Net Assets 2019: $1,755,781,0622019Assets 2020: $2,312,395,198Liabilities 2020: $502,610,454Net Assets 2020: $1,809,784,7442020Assets 2021: $3,091,828,238Liabilities 2021: $666,717,618Net Assets 2021: $2,425,110,6202021Assets 2022: $2,823,618,516Liabilities 2022: $606,351,950Net Assets 2022: $2,217,266,5662022Assets 2023: $3,048,394,011Liabilities 2023: $618,604,126Net Assets 2023: $2,429,789,8852023Assets 2024: $3,233,557,618Liabilities 2024: $642,318,666Net Assets 2024: $2,591,238,9522024Assets 2025: $3,549,699,710Liabilities 2025: $680,794,933Net Assets 2025: $2,868,904,7772025

Highlighted filing

2025

Assets$3,549,699,710
Liabilities$680,794,933
Net Assets$2,868,904,777

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600M$400M$200M$0Expenses 2011: $125,941,0862011Expenses 2012: $139,450,0232012Expenses 2013: $147,788,0002013Revenue 2014: $230,082,250Expenses 2014: $140,971,659Net Income 2014: $89,110,5912014Revenue 2015: $203,985,505Expenses 2015: $142,071,639Net Income 2015: $61,913,8662015Revenue 2016: $228,112,629Expenses 2016: $142,773,171Net Income 2016: $85,339,4582016Revenue 2017: $255,074,240Expenses 2017: $177,651,398Net Income 2017: $77,422,8422017Revenue 2018: $327,050,096Expenses 2018: $208,897,114Net Income 2018: $118,152,9822018Revenue 2019: $288,964,718Expenses 2019: $212,904,491Net Income 2019: $76,060,2272019Revenue 2020: $259,096,557Expenses 2020: $227,794,715Net Income 2020: $31,301,8422020Revenue 2021: $493,527,038Expenses 2021: $247,747,875Net Income 2021: $245,779,1632021Revenue 2022: $449,363,151Expenses 2022: $291,342,484Net Income 2022: $158,020,6672022Revenue 2023: $444,580,366Expenses 2023: $286,615,114Net Income 2023: $157,965,2522023Revenue 2024: $342,190,499Expenses 2024: $281,807,879Net Income 2024: $60,382,6202024Revenue 2025: $456,087,334Expenses 2025: $294,501,134Net Income 2025: $161,586,2002025

Highlighted filing

2025

Revenue$456,087,334
Expenses$294,501,134
Net Income$161,586,200

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3,550$681$2,869$456$295$162
2024Summary only. Only limited summary data is available for this year.$3,234$642$2,591$342$282$60.4
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$3,048$619$2,430$445$287$158
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,824$606$2,217$449$291$158
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3,092$667$2,425$494$248$246
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,312$503$1,810$259$228$31.3
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2,247$492$1,756$289$213$76.1
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2,110$465$1,645$327$209$118
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,891$435$1,456$255$178$77.4
2016Detailed filing. Detailed filing data is available for this year.$1,644$372$1,272$228$143$85.3
2015Detailed filing. Detailed filing data is available for this year.$1,630$385$1,245$204$142$61.9
2014Detailed filing. Detailed filing data is available for this year.$1,571$368$1,203$230$141$89.1
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,328$311$1,017$148
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,202$280$922$139
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,230$285$944$126
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 11, 2025
Return Version
2024v5.2
Gross Receipts
$456,087,334
Mission and Program Overview

Mission

The foundation receives, manages and prudently invests private support for the benefit of the university of colorado and supports the university's philanthropic endeavors through donor stewardship.

The university of colorado foundation is the portal for philanthropic giving to the university of colorado and is responsible for receiving, managing, and investing the endowments and other gift funds the foundation holds for the benefit of cu.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$2,210,366,350$2,378,582,157▲ $168,215,807
Investments in Publicly Traded Securities$751,625,638$824,321,238▲ $72,695,600
Savings and Temporary Cash Investments$84,071,999$159,101,757▲ $75,029,758
Pledges and Grants Receivable$142,374,488$142,365,216▼ $9,272
Land, Buildings, and Equipment, Net$1,063,345$4,662,170▲ $3,598,825
Prepaid Expenses and Deferred Charges$928,344$413,287▼ $515,057
Accounts Receivable$231,031$23,271▼ $207,760
Cash and Non-Interest-Bearing Accounts$3--
Total Assets$3,233,557,618$3,549,699,710▲ $316,142,092
Other Assets Total$42,896,420$40,230,614▼ $2,665,806
Liabilities
Escrow Account Liability$608,911,357$652,917,414▲ $44,006,057
Other Liabilities$19,708,199$19,413,586▼ $294,613
Accounts Payable and Accrued Expenses$13,506,082$8,433,660▼ $5,072,422
Deferred Revenue$193,028$30,273▼ $162,755
Total Liabilities$642,318,666$680,794,933▲ $38,476,267
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,533,185,278$2,786,456,808▲ $253,271,530
Net Assets Without Donor Restrictions$58,053,674$82,447,969▲ $24,394,295
Total Net Assets Fund Balance$2,591,238,952$2,868,904,777▲ $277,665,825
Total Liabilities and Net Assets / Fund Balance$3,233,557,618$3,549,699,710▲ $316,142,092

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,582,899$1,045,999$5,628,898
Other Land Buildings$0$2,590,721$2,590,721
Equipment$47,193$614,347$661,540
Leasehold Improvements$0$379,063$379,063
Land$32,078-$32,078
Other Securities$596,427,954--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$1,986,863,145$103,786,559▲ $108,851,360$-1,445,625$2,200,946,689
2023$1,841,974,375$67,913,606▲ $78,479,756$1,504,592$1,986,863,145
2022$1,727,979,591$61,438,723▲ $52,715,110$159,049$1,841,974,375
2021$1,849,671,600$80,029,082▼ $127,751,141$73,969,950$1,727,979,591
2020$1,317,135,836$103,907,709▲ $485,340,949$56,712,894$1,849,671,600
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jack FinlawPresident & CEOFT$445,681$80,383$526,064
A Keller Young EsqSVP, General Counsel, CAOFT$296,487$70,918$367,405
Charlene LausVP & CFOFT$284,152$55,615$339,767
Lynnea HuttonVP, People & CultureFT$193,231$57,617$250,848
Elizabeth SayerControllerFT$156,465$34,694$191,159
Shannon KnappDirector, Gift Services - Term Ended 11/22/24FT$142,209$20,424$162,633
Shannon KnappDirector, Gift Services - Term Ended-$130,287$32,346$162,633
Saskia SawyerAvp Gift Services - Term End 6/14/24FT$102,295$57,085$159,380

Board Members and Trustees

NameTitle
Todd SalimanUniversity President
Barbara WinterDirector
Becky L MedvedDirector
Brian DolanDirector
Carole YaleyDirector
David TrybaDirector
Heidi WagnerDirector
Lisa KetteringDirector
Mary SullivanDirector
Melinda H YeeDirector
Michael DonnellyDirector
Nan EklundDirector
Patty ImhoffDirector
Paula SandovalDirector
Sally HyblDirector
Scott KingdomDirector
Todd FredricksonDirector
Vance KnappDirector
William K FisherDirector
Ilana Dubin-spiegelUniversity Regent
Annie BaccaryVP for Advancement Operations

Highest Paid Contractors

ContractorServicesLocationCompensation
Cerity Partners OcioInvestment Manager7979 E TUFTS AVE SUITE 700, Denver, CO 80237, Uk$5,512,515
Founders FundInvestment ManagerONE LETTERMAN DRIVE BUILDING D 5T, San Francisco, CA 94129$2,991,754
PeakspanInvestment Manager192 LEXINGTON AVE 16TH FL, New York, NY 10016$1,617,025
CharlesbankInvestment Manager200 CLARENDON ST 54TH FLOOR, Boston, MA 02116$1,244,820
Tembo Capital ManagementInvestment Manager-$1,158,633
Revenue and Support

Revenue Composition

Contributions and Grants
$301,813,626
Program Service Revenue
$7,102,896
Investment Income
$142,884,136
Other Revenue
$4,286,676
All Other Contributions
$301,813,626
Change in Net Assets
$161,586,200

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded122$46,377,218Avg High/low Price
Total Noncash Contributions122$46,377,218-

Audited Revenue Reconciliation

Revenue per Audited Statements
$434,153,719
Revenue Not Reported on Financial Statements
$21,933,615
Revenue Not Reported on Form 990
$126,520,129
Other Revenue Adjustments
$2,654,511
Total Revenue per Audited Statements
$560,673,848
Total Revenue per Form 990
$456,087,334
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$230,728,441
Other Expenses$58,833,643
Total Fundraising Expense$38,398,615
Salaries, Compensation, and Employee Benefits$3,937,527
Professional Fundraising Fees$1,001,523

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$230,728,441--$230,728,441
Fees for Services Other-$173,607$37,397,092$37,570,699
Fees for Service Investment Mgmnt Fees-$19,279,104-$19,279,104
Current Officers, Directors, Trustees, and Key Employees-$1,997,257-$1,997,257
Other Salaries and Wages-$1,477,311-$1,477,311
Fees for Services Professional Fundraising--$1,001,523$1,001,523
Information Technology-$325,924-$325,924
Office Expenses-$279,313-$279,313
Fees for Services Accounting-$251,622-$251,622
Payroll Taxes-$244,098-$244,098
Insurance-$240,371-$240,371
Occupancy-$147,394-$147,394
Other Employee Benefits-$145,295-$145,295
Conferences and Meetings-$145,013-$145,013
Depreciation Depletion-$116,982-$116,982
Pension Plan Contributions-$73,566-$73,566
Travel-$40,258-$40,258
Fees for Services Legal-$39,906-$39,906
All Other Expenses-$30,032-$30,032
Other Expenses-$1,182-$1,182
Total Functional Expenses$230,728,441$25,374,078$38,398,615$294,501,134

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$294,501,134
Expenses per Audited Statements$275,222,030
Total Expenses per Audited Statements$275,222,030
Expenses Not Reported on Financial Statements$19,279,104
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of ColoradoDenver, CO501(c)(3)See Part Iv$228,961,654
University of Colorado Hospital FoundationAurora, CO501(c)(3)Public Service, Medical Outreach$1,630,471

International Summary

Offices
0
Employees
0
Spending
$740,626,355

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the Caribbean -Investments---$343,778,109
North America - Canada and Mexico, But Not the United StatesInvestments---$337,079,272
Western Europe -Investments---$59,768,974
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$1,001,523
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Liabilities Under Split Interest$17,137,522
Funds Held in Trust for Others$2,276,064
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The foundation's independent accounting firm will review the 990 with the audit committee. The audit committee chair will provide a summary of this review to the full board along with a copy of the form 990.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy is provided to key employees, directors, and committee members who are not directors. Each recipient is asked to complete a disclosure certification. These documents are collected and the information compiled in the foundation's legal department. When the foundation is considering entering into major transactions and/or contracts with outside parties, potential conflicts of interest are researched. If there is an identified conflict, the foundation follows the policy to resolve the conflict.

Form 990, Part VI, Section B, Line 15

The university of colorado foundation has a compensation committee of the board of directors. This committee reviews and approves salary adjustments and any additional compensation for the foundation's officers. The committee relies on market compensation studies for each applicable position, which are performed by an outside compensation consultant and updated every three years. The committee's deliberation and salary approvals are documented in the minutes maintained by the compensation committee.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy and audited financial statements are made available upon request. Audited financials are also available on the cuf website www.cufund.org.

Filing and Contact Details

Filer

Filer Name
University of Colorado Foundation
EIN
84-6049811
Phone
3038137935
Address
1800 GRANT STREET SUITE 725, DENVER, CO 80203

Signing Officer

Name
Jack Finlaw
Title
President & CEO
Phone
3038137935
Signed
2025-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jack Finlaw
Formed
1967
Legal Domicile
Co
Voting Board Members
19
Independent Board Members
18
Employees
27
Volunteers
18

Preparer

Firm
Plante & Moran Pllc
Address
8181 E TUFTS AVE SUITE 600, DENVER, CO 80237
Preparer
Dori J Eggett
Phone
3037409400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Cu support fee: program service expenses 0. Management and general expenses 173,607. Fundraising expenses 37,397,092. Total expenses 37,570,699.

FORM 990, PART XI, LINE 9:

Change in value of split interest agreements 3,592,235. Unrelated business (income)/loss -2,654,511. Write-off of uncollectible contributions receivable -7,785,993.

Financial Statement Notes

PART IV, LINE 2B:

The foundation holds and invests certain endowment and other funds in a long term investment pool under the terms of an investment management agreement with university of colorado.

PART V, LINE 4:

The foundation's endowment funds include donor restricted pure and quasi-endowment funds, and board-designated endowment funds. These endowments are managed in accordance with the foundation board approved spending policy, and distributions from these endowments are made in accordance with such policy and are available to the university of colorado to support its programs and operations, in accordance with the applicable donor's restrictions.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of split interest agreements 3,592,235.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Unrelated business income 2,654,511.

Raw XML AppendixShowing 400 of 1,072 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0SEE SCHEDULE O.UNIVERSITY OF COLORADO FOUNDATION'S CHARITABLE MISSION IS TO RECEIVE AND MANAGE PRIVATE GIFTS TO BENEFIT THE UNIVERSITY OF COLORADO. IN ACCORDANCE WITH THIS MISSION, THE FOUNDATION RECEIPTED $301,813,626 IN DIRECT PUBLIC SUPPORT OF THE UNIVERSITY FOR THE FISCAL YEAR ENDED JUNE 30, 2025. IN ADDITION, AS OF JUNE 30, 2025 THE FOUNDATION INVESTED, ACCOUNTED FOR, AND MANAGED $2,471,698,810 IN NET ASSETS FOR THE BENEFIT OF THE UNIVERSITY. THE FOUNDATION DIRECTLY APPLIED AND DISTRIBUTED MONIES TO UNIVERSITY OF COLORADO IN THE AMOUNT OF $252,112,492. THESE APPLIED AND DISTRIBUTED MONIES WERE USED BY THE UNIVERSITY TO PROVIDE SCHOLARSHIPS, FELLOWSHIPS, FUND LECTURESHIPS AND PROFESSORSHIPS, CONSTRUCT FACILITIES, PURCHASE EQUIPMENT, PROVIDE LOANS, PURCHASE EDUCATIONAL AND RESEARCH MATERIALS AND TO FUND A MYRIAD OF OTHER PROJECTS AND ITEMS TO HELP THE UNIVERSITY PROVIDE EDUCATION TO THE GENERAL PUBLIC.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1VP FOR ADVANCEMENT OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4UNIVERSITY REGENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12UNIVERSITY PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22SVP, GENERAL COUNSEL, CAO
IRS990/Form990PartVIISectionAGrp/TitleTxt23VP & CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt24VP, PEOPLE & CULTURE
IRS990/Form990PartVIISectionAGrp/TitleTxt25CONTROLLER
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR, GIFT SERVICES - TERM ENDED 11/22/24
IRS990/Form990PartVIISectionAGrp/TitleTxt27AVP GIFT SERVICES - TERM END 6/14/24
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IRS990/MissionDesc0THE UNIVERSITY OF COLORADO FOUNDATION IS THE PORTAL FOR PHILANTHROPIC GIVING TO THE UNIVERSITY OF COLORADO AND IS RESPONSIBLE FOR RECEIVING, MANAGING, AND INVESTING THE ENDOWMENTS AND OTHER GIFT FUNDS THE FOUNDATION HOLDS FOR THE BENEFIT OF CU.
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