University of Wisconsin Foundation: Nonprofit Profile, Financials & Form 990 (EIN 39-0743975)

Revenue by fiscal year
FY2020	$528.9M
FY2021	$739.0M
FY2022	$1.3B
FY2023	$490.5M
FY2024	$776.8M
FY2025	$680.9M

Expenses by fiscal year
FY2020	$314.1M
FY2021	$391.7M
FY2022	$379.6M
FY2023	$435.6M
FY2024	$564.0M
FY2025	$658.4M

Net assets by fiscal year
FY2020	$4.0B
FY2021	$5.0B
FY2022	$4.5B
FY2023	$4.9B
FY2024	$5.4B
FY2025	$5.9B

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1943.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Part of a larger organization · Schedule R

University of Wisconsin Foundation files its own Form 990, but Schedule R discloses 3 related entities — figures on this page are for this EIN only, not the whole group. Large hospital and education systems often split assets and fundraising across related entities; read Schedule R before comparing to a single-site charity.

Terry Family Foundation INC · Evjue Foundation INC · Charitable Remainder Unitrusts - 1 · See Schedule R

Combined filings · FY2025 · 2 entities with data

Simple sum of each entity's Form 990 headline figures — not audited consolidated financials. This page's EIN is 100% of group revenue.

Group revenue

$684.1M

Group expenses

$661.0M

Group net assets

$5.9B

Evjue Foundation INC · $3.3M rev · $30.3M net assets

Where the money goes

89 cents of each dollar spent went to programs.

89%

Program services 89% · $584.7M Management & general 5% · $30.5M Fundraising 7% · $43.3M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

56 people listed on the 990; $8.9M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Michael L Stohler

CIO

$1,943,576Pt VII · Sec A

Christopher a Moore

Deputy Chief Investment Officer

$994,559Pt VII · Sec A

Richard J Shepley

SR. Managing Director of Investments

$946,665Pt VII · Sec A

Michael M Knetter

CEO (until 12/31/24)

$820,496Pt VII · Sec A

Katherine L Wyble

Managing Director of Investments

$762,210Pt VII · Sec A

Alisa a Robertson

President/CEO (as of 1/1/25)

$537,702Pt VII · Sec A

Sean Arp

Chief Operating Off of Investments

$514,216Pt VII · Sec A

James G Elkins

Director of Investments

$407,968Pt VII · Sec A

Michael L Stohler’s $1.9M as CIO is at the 90th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Michael L Stohler	$1,943,576	$1,570,221	$1,174,624	$239,144	—	—
Christopher a Moore	$994,559	$846,887	$609,081	$252,693	—	—
Richard J Shepley	$946,665	$831,819	$870,041	$677,963	$632,342	—
Julie M Van Cleave	—	—	—	—	$651,759	$923,402
Michael M Knetter	$820,496	$800,626	$847,297	$718,061	$715,147	$689,346
Katherine L Wyble	$762,210	$672,714	$466,865	—	—	—
Richard James Shepley	—	—	—	—	—	$613,583
Thomas P Olson	—	—	$211,739	$539,144	$549,712	$576,111

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See University of Wisconsin Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Raises, manages, and distributes private gifts and endowments to support faculty research, student programs, and academic initiatives at the University of Wisconsin-Madison.

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Provided by the organization

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3 programs · $416.8M · in their own filed words · FY2024

01

Capital Additions and Facilities

The uw foundation provided $197 million to the university of wisconsin in support of new building construction, renovation, maintenance, and equipment needs. State-of-the-art facilities help the university attract high-caliber faculty and students.

$196.9Mprogram expense

02

Discretionary Support

The uw foundation provides critical funding to senior university officials granting them the needed flexibility to respond to both existing and unforeseen opportunities. This discretionary support helps further the mission of the university by fulfilling the greatest needs and top priorities of the university.

$125.0Mprogram expense

03

Faculty Support and Research

With $95 million from the uw foundation, university of wisconsin faculty and staff received critical financial support allowing for increased research opportunities and improved classroom experiences for students.

$94.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2025

Ifs Family Foundation INCFY2025$1.0M

Colony Brands Foundation INCFY2025$359K

Lakeshore Community Foundation INCFY2025$82K

Hf Foundation INCFY2025$75K

William Kistler Coors FoundationFY2025$60K

Cooperative Development FoundationFY2025$52K

Emily Brooks Foundation INCFY2025$50K

Janet M Hoehnen Foundation INCFY2025$35K

Total grants receivedfrom 26 funders$1.9M

See all 26 funders →

Grants paid · 30 grants · $2.2B · 2019–2024

University of Wisconsin MadisonFY2024$196,895,770

University of Wisconsin MadisonFY2024$125,029,315

University of Wisconsin MadisonFY2024$94,853,881

University of Wisconsin MadisonFY2024$73,120,316

University of Wisconsin MadisonFY2024$58,852,497

University of Wisconsin MadisonFY2023$153,614,785

University of Wisconsin MadisonFY2023$104,996,375

University of Wisconsin MadisonFY2023$74,574,859

University of Wisconsin MadisonFY2023$63,003,421

University of Wisconsin MadisonFY2023$60,063,817

University of Wisconsin MadisonFY2022$143,159,780

University of Wisconsin MadisonFY2022$62,240,588

University of Wisconsin MadisonFY2022$59,565,808

University of Wisconsin MadisonFY2022$49,113,186

University of Wisconsin MadisonFY2022$25,900,295

University of Wisconsin MadisonFY2021$91,978,767

University of Wisconsin MadisonFY2021$61,127,330

University of Wisconsin MadisonFY2021$59,375,189

See all 30 grants →

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$680.9M

Ln 12

Gifts and grantsLn 1h$347.6M

Investment incomeLn 3$331.6M

Fees for servicesLn 2g$1.1M

Money outPt IX

$658.4M

Ln 25

Programscol B$584.7M

Managementcol C$30.5M

Fundraisingcol D$43.3M

Owns and owesPt X

$5.9B

net assets · Ln 32

Cash and savingsLn 1–2$45.5M

Total assetsLn 16$6.3B

LiabilitiesLn 26$430.1M

PeoplePt VI, VII

56

listed · VII A

PaidVII A17

Voting boardVI 1a37

IndependentVI 1b36

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$347.6M

Government grantsLn 1e$50.2M

Noncash giftsLn 1g$42.6M

Fees for servicesLn 2g$1.1M

Investment incomeLn 3$331.6M

Other incomeLn 4–11$586K

Gains on assetsLn 7$226.5M

Total revenueLn 12$680.9M

Assets in detailPt X, end of year

CashLn 1$400

SavingsLn 2$45.5M

Cash and savings togetherLn 1–2$45.5M

InvestmentsLn 11–13$5.96B

Land, buildings, equipmentLn 10c$17.8M

Other assetsLn 15$5.3M

Total assetsLn 16$6.3B

LiabilitiesLn 26$430.1M

Net assetsLn 32$5.9B

OperationsPt I, VI

EmployeesI 5458

VolunteersI 61,500

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$12.7M	$45.5M
InvestmentsLn 11–13	$5.44B	$5.96B
Land, buildings, equipmentLn 10c	$20.2M	$17.8M
Total assetsLn 16	$5.81B	$6.32B
LiabilitiesLn 26	$371.3M	$430.1M
Net assetsLn 32	$5.44B	$5.89B

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$548.8M	$548.8M
Pay of current officers, directors and key staffLn 5	$4.4M		$4.1M	$319K
Other salaries and wagesLn 7	$29.2M		$8.4M	$20.9M
Pension plan contributionsLn 8	$2.8M		$1.0M	$1.7M
Other employee benefitsLn 9	$5.1M		$2.1M	$3.0M
Payroll taxesLn 10	$2.4M		$883K	$1.5M
Legal feesLn 11b	$299K		$111K	$188K
Accounting feesLn 11c	$611K		$611K
Lobbying feesLn 11d	$167K		$167K
Professional fundraising feesLn 11e	$2.2M			$2.2M
Investment management feesLn 11f	$35.9M	$35.9M
Other fees for servicesLn 11g	$1.0M		$1.0M
Advertising and promotionLn 12	$684K			$684K
Office expensesLn 13	$3.7M		$1.1M	$2.6M
Information technologyLn 14	$5.9M		$2.2M	$3.7M
OccupancyLn 16	$1.7M		$629K	$1.1M
TravelLn 17	$1.0M		$163K	$875K
Conferences, conventions and meetingsLn 19	$2.2M			$2.2M
Depreciation, depletion and amortizationLn 22	$2.8M		$1.0M	$1.7M
InsuranceLn 23	$718K		$265K	$452K
Other expenses (24a–d)Ln 24	$6.8M		$6.8M
All other expensesLn 24e	$44K		$14K	$29K
Total functional expensesLn 25	$658.4M	$584.7M	$30.5M	$43.3M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$680.9M	$658.4M	$22.4M	$5.9B	990 PDF
FY2024	$776.8M	$564.0M	$212.7M	$5.4B	990 PDF
FY2023	$490.5M	$435.6M	$54.9M	$4.9B	990 PDF
FY2022	$1.3B	$379.6M	$926.5M	$4.5B	990 PDF
FY2021	$739.0M	$391.7M	$347.4M	$5.0B	990 PDF
FY2020	$528.9M	$314.1M	$214.8M	$4.0B	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $680,868,045 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $474,785,518$347,553,672

I-9 Program service revenuePrior year $1,158,779$1,100,736

I-10 Investment incomePrior year $300,118,550$331,627,782

I-11 Other revenuePrior year $708,871$585,855

I-12 Total revenuePrior year $776,771,718$680,868,045

I-13 Grants and similar amounts paidPrior year $456,253,257$548,751,779

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $40,604,573$43,878,303

I-16a Professional fundraising feesPrior year $133,417$2,199,062

I-17 Other expensesPrior year $67,032,136$63,595,208

I-18 Total expensesPrior year $564,023,383$658,424,352

I-19 Revenue less expensesPrior year $212,748,335$22,443,693

Part VI · Governance 36 of 37 board members independent, 1 to look at

VI-1a Voting members of the governing body37

VI-1b Independent voting members36

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $680,868,045 across 11 lines filed

Lines not itemized here account for $91,545 of total revenue; see the IRS return.

VIII-1b Membership dues$586,660

VIII-1e Government grants$50,155,561

VIII-1f All other contributions, gifts and grants$296,811,451

VIII-1g Noncash contributions (included above)$42,559,765

VIII-1h Total contributions, gifts and grants$347,553,672

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $948,081 · Unrelated business $152,655$1,100,736

VIII-3 Investment incomeUnrelated business −$3,993,637 · Excluded from tax $109,146,199$105,152,562

VIII-5 RoyaltiesExcluded from tax $446,310$446,310

VIII-6 Net rental income or lossExcluded from tax $48,000$48,000

VIII-7 Net gain or loss on sales of assetsUnrelated business −$6,672,242 · Excluded from tax $233,147,462$226,475,220

VIII-12 Total revenueRelated to mission $1,010,954 · Unrelated business −$10,513,224 · Excluded from tax $342,816,643$680,868,045

Part IX · Statement of functional expenses $658,424,352 across 22 lines filed

IX-1 Grants to domestic organizationsPrograms $548,751,779$548,751,779

IX-5 Pay of current officers, directors and key staffManagement $4,068,186 · Fundraising $318,907$4,387,093

IX-7 Other salaries and wagesManagement $8,357,061 · Fundraising $20,863,315$29,220,376

IX-8 Pension plan contributionsManagement $1,020,434 · Fundraising $1,739,607$2,760,041

IX-9 Other employee benefitsManagement $2,059,834 · Fundraising $3,030,352$5,090,186

IX-10 Payroll taxesManagement $882,566 · Fundraising $1,538,041$2,420,607

IX-11b Legal feesManagement $110,529 · Fundraising $188,426$298,955

IX-11c Accounting feesManagement $610,863$610,863

IX-11d Lobbying feesManagement $167,380$167,380

IX-11e Professional fundraising feesFundraising $2,199,062$2,199,062

IX-11f Investment management feesPrograms $35,906,630$35,906,630

IX-11g Other fees for servicesManagement $1,032,826$1,032,826

IX-12 Advertising and promotionFundraising $684,010$684,010

IX-13 Office expensesManagement $1,122,037 · Fundraising $2,592,649$3,714,686

IX-14 Information technologyManagement $2,151,592 · Fundraising $3,745,541$5,897,133

IX-16 OccupancyManagement $628,624 · Fundraising $1,072,850$1,701,474

IX-17 TravelManagement $163,249 · Fundraising $874,903$1,038,152

IX-19 Conferences, conventions and meetingsFundraising $2,199,239$2,199,239

IX-22 Depreciation, depletion and amortizationManagement $1,016,891 · Fundraising $1,733,569$2,750,460

IX-23 InsuranceManagement $265,369 · Fundraising $452,394$717,763

IX-24 Other expenses (24a–d)Management $6,831,833$6,831,833

IX-24e All other expensesManagement $14,461 · Fundraising $29,343$43,804

IX-25 Total functional expensesPrograms $584,658,409 · Management $30,503,735 · Fundraising $43,262,208$658,424,352

Part X · Balance sheet $6,317,679,254 assets, 17 lines filed

Asset lines not itemized here account for $159,147; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $400$400

X-2 Savings and temporary cash investmentsStart of year $12,675,091$45,490,993

X-3 Pledges and grants receivableStart of year $144,152,080$113,662,197

X-4 Accounts receivableStart of year $177,241,528$170,355,814

X-9 Prepaid expenses and deferred chargesStart of year $4,440,519$4,471,832

X-10c Land, buildings and equipment, netStart of year $20,165,343$17,796,776

X-11 Publicly traded securitiesStart of year $3,937,157,317$3,933,329,976

X-12 Other securitiesStart of year $1,507,750,806$2,027,095,923

X-15 Other assetsStart of year $5,857,304$5,316,196

X-16 Total assetsStart of year $5,809,599,535$6,317,679,254

X-17 Accounts payable and accrued expensesStart of year $27,895,906$43,318,139

X-25 Other liabilitiesStart of year $51,091,164$52,056,643

X-26 Total liabilitiesStart of year $371,257,291$430,104,924

X-27 Net assets without donor restrictionsStart of year $216,940,298$273,449,683

X-28 Net assets with donor restrictionsStart of year $5,221,401,946$5,614,124,647

X-32 Total net assets or fund balancesStart of year $5,438,342,244$5,887,574,330

X-33 Total liabilities and net assetsStart of year $5,809,599,535$6,317,679,254

Part XI · Reconciliation of net assets $5,887,574,330 net assets at year end

XI-1 Total revenue$680,868,045

XI-2 Total expenses$658,424,352

XI-3 Revenue less expenses$22,443,693

XI-4 Net assets at start of year$5,438,342,244

XI-5 Net unrealized gains (losses) on investments$424,607,298

XI-9 Other changes in net assets$2,181,095

XI-10 Net assets at end of year$5,887,574,330

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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