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History of the Minnesota Medical Foundation

In the beginning

The Minnesota Medical Foundation was founded in 1939 by alumni and faculty who had concluded that state support alone could not build a strong medical school. Initially the foundation's sole purpose was to raise and disburse private funds to help support the Medical School's education and research programs.

The foundation issued its first four faculty research grants, totaling $800, in 1940. Among the special-purpose funds managed by the foundation was one from Munsingwear that enabled the Department of Physiology to study the insulating properties of fabrics designed for allied troops fighting in artic and tropic combat zones during World War II.

Nine years later, in 1949, the Minnesota Medical Foundation awarded medical student scholarships for the first time. Five students received $500 scholarships awarded on the basis of scholastic achievement and financial need.

At the half-century mark

On its 50th anniversary, in 1988, the foundation concluded its three-year participation in the Minnesota campaign. Of the $364 million raised to support the University of Minnesota overall, MMF raised $56 million for the Medical School and School of Public Health, which had joined the philanthropic fold the year before. This total included $15 million in gifts and pledges for student scholarships; $6.3 million in faculty gifts to the Second Century Fund, established to ensure the Medical School's continued strength in the 21st century; and pledges to create 21 new endowed faculty positions.1

By its 64th anniversary, in 2003, the Minnesota Medical Foundation had made enormous strides. It concluded its participation in the seven-year Campaign Minnesota by raising more than $516 million of the $1.3 billion University total. During the campaign period, the foundation's fund-raising performance on a cash basis more than doubled. In fact, more money was raised during the seven-year campaign than in the entire 100-plus-year history of the Medical School, and more than 66,000 benefactors made gifts. Forty-one new endowed faculty positions were established, with an additional 21 positions pledged through deferred gifts. More than $22 million was raised for scholarships, with 119 new scholarships established. In addition, funds raised through the campaign supported the establishment of a number of new University centers, including the:

Today

Today the Minnesota Medical Foundation raises millions of dollars each year for health-related education, research, and service at the University of Minnesota. Its endowment as of June 30, 2007, the end of the fiscal year, was $262 million. In addition to raising money, the foundation manages more than 2,500 funds that support research, faculty positions, scholarships, academic programs, equipment purchases, lectureships, and fellowships.