The University of Minnesota Foundation was founded in 1962 by alumni and friends of the University "who believe deeply in the University and its mission. Their goal is to engage the resources of the private sector to build a better University and lay the groundwork for a strong future."
The idea for the Minnesota Medical Foundation was launched in 1939 as plans were forming to celebrate the 50th anniversary of the University’s Medical School. Later that year, the Minnesota Medical Foundation was incorporated to support the Medical School by raising funds for scholarships, lectureships, professorships, research, etc. and to advance the “University of Minnesota Medical School and its alumni.”
In 2013, the University of Minnesota Foundation and Minnesota Medical Foundation merged to create a single foundation, operating as the University of Minnesota Foundation.