University of Colorado Foundation EIN 84-6049811

University of Colorado Foundation

EIN  84-6049811 Higher education institution Denver, CO Founded 1967
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/4/26 · see original filing: IRS
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Size
$100M+
What they do
Receives, manages, and invests private donations and net assets to provide financial support and funding for the University of Colorado.
Leadership
Jack Finlaw · President & CEO · $490K
Money in and out
$456.1M revenue, $294.5M expenses
Bottom line
+35% operating surplus

Receives, manages, and invests private donations and net assets to provide financial support and funding for the University of Colorado. For fiscal year 2025 it reported $456.1M in revenue, $294.5M in expenses, and $2.9B in net assets.Pt I

Financial scale & money flow · FY2025
Total revenue
$456.1M
Pt VIII · Ln 12
Total expenses
$294.5M
Pt IX · Ln 25
Net assets
$2.9B
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $161.6M
Where spending went · Part IX cols B–D
Program services $0.78 Management & general $0.09 Fundraising $0.13
Operating surplus
+35%
revenue over expenses, this legal entity▲ +101% vs prior filing year
Payroll share
1%
of this entity's spending is salaries & benefits▼ -5% vs prior filing year
Program spending
78%
of expenses reach program services▲ +1% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$456.1M
FY2025▲ +33%
Expenses
$294.5M
FY2025▲ +5%
Total assets
$3.5B
FY2025▲ +10%
Total liabilities
$680.8M
FY2025▲ +6%
Total revenue
$456.1M
Pt VIII · Ln 12
Total expenses
$294.5M
Pt IX · Ln 25
Net assets
$2.9B
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$161.6M
Total assetsPt X · Ln 16$3.5B
Program-expense ratioPt IX · col B78%
Voting members of governing bodyPt I · Ln 319
Independent voting membersPt I · Ln 418
Mission & Programs · Part III

Where the work happens

1 program service account for $230.7M of program spending, described in the organization's own filed words · FY2024.
01

See 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.

$230.7Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CUniversity of Colorado Foundation
EINHdr · item D84-6049811
Principal addressHdr · item CDenver, CO
WebsiteHdr · item Jwww.giving.cu.edu/cufoundation
Year of formationHdr · item L1967
State of legal domicileHdr · item MCO
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B110)
Ruling yearIRS BMFSep 1967

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a19
Independent voting membersPt VI · Ln 1b18
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President & CEO
$489,971Pt VII · Sec A
SVP, General Counsel, Cao
$326,258Pt VII · Sec A
$312,152Pt VII · Sec A
VP, People & Culture
$216,231Pt VII · Sec A
Controller
$172,034Pt VII · Sec A
Avp Gift Services - Term End 6/14/24
$144,116Pt VII · Sec A
Director, Gift Services - Term Ended 11/22/24
$142,209Pt VII · Sec A
$0Pt VII · Sec A

Jack Finlaw’s $490K as President & CEO is at the 37th 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

NameFY2025FY2024FY2023FY2021
Jack Finlaw$489,971$504,807$434,880$369,279
A Keller Young ESQ$326,258$310,105$289,801$241,915
Charlene Laus$312,152$291,465$155,250
Lynnea Hutton$216,231$197,461
Elizabeth Sayer$172,034$185,404$132,818
Saskia Sawyer$144,116$174,183$170,990$140,707
Patty Leslie$112,510$160,469
Scott Dunn$157,180

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.

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Statement of Revenue

Part VIII
Contributions & grants$301.8M · 66%
Investment income$142.9M · 31%
Program service revenue$7.1M · 2%
Other revenue$4.3M · 1%
Contributions & grants66%$301.8M
Investment income31%$142.9M
Program service revenue2%$7.1M
Other revenue1%$4.3M
Total revenueLn 12$456.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.78 Management & general $0.09 Fundraising $0.13
Program services78%$230.7M
Management & general9%$25.4M
Fundraising13%$38.4M
Total functional expensesLn 25$294.5M

Balance Sheet

Part X · end of year
CashLn 1$159.1M
Total assetsLn 16$3.5B
Total liabilitiesLn 26$680.8M
Total net assetsLn 32$2.9B
Months of cash on handcomputed6.5

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.4B · Operating expenses (Pt IX) $294.5M · Less non-cash grants $46.4M · Cash operating expenses/yr $248.1M
162.6 months
Where the money goes
Program services
Program services $230.7M · Total expenses $294.5M
78%
Management & General
Management & general $25.4M · Total expenses $294.5M
9%
Fundraising
Fundraising $38.4M · Total expenses $294.5M
13%
Cost to raise $1
Fundraising expense (3-yr avg) $37.0M · Solicited contributions (3-yr avg) $277.4M
$0.13 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $301.8M · Total revenue $456.1M
66%
Government reliance
Government grants — · Total revenue $456.1M
Earned-income share
Program service revenue $7.1M · Total revenue $456.1M
2%
Investment reliance
Investment income $142.9M · Total revenue $456.1M
+31%
Program self-sufficiency
Program service revenue $7.1M · Total expenses $294.5M
2%
Growth & trend
Revenue growth (YoY)
This year $456.1M · Prior year $342.2M
+33%
Revenue CAGR
FY2020 $493.5M · FY2024 $456.1M
-2%
Net-asset trend (YoY)
End of year $2.9B · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $456.1M · Expenses $294.5M
+35%
Liabilities-to-Assets
Total liabilities — · Total assets $3.5B
Net-asset ratio
Net assets $2.9B · Total assets $3.5B
81%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $824.3M · Other securities (Pt X, ln 12) $2.4B · Total assets (Pt X, ln 16) $3.5B
90%
People & payroll
Highest Reported Total Compensation
Individual Jack Finlaw · Reported title PRESIDENT & CEO · Highest reported compensation $490K · Total expenses $294.5M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $3.9M · Total expenses $294.5M
1%
Fundraising vendors
Fundraiser cost ratio
Paid to fundraisers $1.0M · Gross raised $245K
409%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 78%
Overhead ratio 9%
Fundraising cost ratio 13%
Revenue growth 33%
Investment management fee ratio 1%
Legal fee ratio 0%
Accounting fee ratio 0%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 19 funders →
Grants paid · 21 grants · $818.9M · 2020–2024
See all 21 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$456.1M revenue · viewing · ⤓ 990 PDF
FY2024$342.2M revenue · ⤓ 990 PDF
FY2023$444.6M revenue · ⤓ 990 PDF
FY2022$449.4M revenue · ⤓ 990 PDF
FY2021$493.5M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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