# Science Museum of Minnesota Endowment

Science Museum of Minnesota Endowment is an Endowment based in Saint Paul, United States.

## Overview

- **Organization type:** Endowment
- **Headquarters:** Saint Paul, United States
- **Region:** North America
- **Address:** 120 W. Kellogg Blvd., Saint Paul, MN 55102, United States
- **Founded:** 1907
- **Assets under management:** Undisclosed
- **Website:** smm.org
- **LinkedIn:** https://www.linkedin.com/company/science-museum-of-minnesota

## Regulatory record

- **Reports private funds:** No

## About

The Science Museum of Minnesota traces its roots to the St. Paul Institute of Science and Letters, founded in 1907. It adopted its current name in 1970 and now occupies a 370,000-square-foot riverfront campus. Alison Rempel Brown runs the museum as President and CEO, while a volunteer Investment Sub-Committee chaired by Bill Dove of Old National Bank oversees the endowment. Unlike family-office or foundation wealth, the corpus is purely institutional — built over decades from donor contributions, operating surpluses, and public support. The endowment deploys capital across three primary sleeves: private equity, hedge funds, and real assets. The real-asset exposure is anchored by the museum’s own headquarters at 120 West Kellogg Boulevard, along with the St. Croix Watershed Research Station in Marine on St. Croix and the net-zero Science House. Beyond direct property, the museum holds commingled alternative-investment funds and a segregated hedge-fund allocation. Geographic concentration stays local — all owned real estate sits within the Twin Cities metro and the St. The investment committee includes professionals from Piper Sandler, Mars Inc.’s ventures arm, and Space Center Inc., bringing operating-company and financial-institution perspectives to portfolio decisions. Total endowment size is not publicly disclosed. The museum is a 501(c)(3) nonprofit that reached over one million people in the most recent reporting year, supported by a board of roughly 35 trustees drawn from a cross-section of Minnesota-based corporations including 3M, Ecolab, Securian Financial, Xcel Energy, and Best Buy. The board added ten new trustees in FY25. A separate Science Museum of Minnesota Foundation marshals philanthropic gifts that flow into the endowment alongside the investments. The museum’s FY25 financial snapshot confirms continued operating surpluses and a discipline of publishing annual audited financials online. The endowment’s structural differentiator is governance decentralization. No single investment officer directs the portfolio; instead, a volunteer committee of corporate executives, a banker, and a venture director sets policy. This design embeds cross-sector due-diligence capacity without adding headcount, but also means no single principal is accountable for investment performance. The museum’s real-asset heavy balance sheet — three owned properties in two Minnesota counties — acts as a natural inflation hedge and a form of mission-aligned investing independent of third-party fund cycles.

## Sectors

- Real Estate
- Private Equity
- Hedge Funds

## People

- Alison Rempel Brown — President and CEO
- Bill Dove — Chair, Investment Sub-Committee
- Funlola Otukoya — Board Member, Investment Committee Member
- Bob Rinek — Board Member, Investment Committee Member
- Urbanos — Investment Committee Member

## Questions

### Who runs investment decisions at the Science Museum of Minnesota Endowment?

A volunteer Investment Sub-Committee of the board, chaired by Bill Dove of Old National Bank, oversees the endowment. The committee includes Funlola Otukoya (Director of Ventures for Mars, Inc.), Bob Rinek (Managing Director at Piper Sandler), and an executive identified as Urbanos (COO and General Counsel for Space Center Inc.). Alison Rempel Brown, the museum’s President and CEO, serves ex-officio. No dedicated internal CIO is publicly listed.

### Does the Science Museum of Minnesota Endowment disclose its size or annual deployment?

No. The museum does not publish an endowment value or annual deployment figure. Audited financials are available on the museum’s website, but they consolidate operating and restricted funds without breaking out the investable endowment corpus.

### What asset classes does the endowment invest in?

Publicly listed holdings include private equity (commingled funds), hedge funds, and real assets. The real-asset sleeve is anchored by three wholly owned properties: the museum headquarters in Saint Paul, the St. Croix Watershed Research Station, and Science House. The fund commitments are accessed through commingled vehicles rather than direct co-investments.

### How is the Science Museum of Minnesota Foundation related to the endowment?

The Science Museum of Minnesota Foundation functions as the museum’s fundraising and philanthropic vehicle. Gifts routed through the foundation build the endowment corpus alongside investment returns and operating surpluses. The foundation shares board leadership but operates as a distinct structure within the institution’s 501(c)(3) framework.

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Last updated: 2026-08-11T02:43:31.692Z

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