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UND Alumni Association & Foundation
DeAnna Carlson Zink leads the UND Alumni Association & Foundation, a $404M hybrid endowment driving a $625M university campaign from Grand Forks.
UND Alumni Association & Foundation
Founded in 1889 to serve the University of North Dakota's first eight graduates, the UND Alumni Association & Foundation merged alumni engagement with official fundraising duties long before it was standard practice. CEO DeAnna Carlson Zink, the first woman to lead the merged entity, guides an operation that now supports over 120,000 alumni. The foundation achieved a record $119.9 million in donations during 2025 alone, outpacing the original $500 million Forever UND campaign target well ahead of schedule. The investment strategy cuts across asset classes including direct real estate, mineral rights and royalties, commodity hedges, limited partnerships, and secondaries. Physical assets held on and around campus range from the Gorecki Alumni Center and Memorial Village mixed-use development to the Nodak Insurance Company Sports Performance Center. The portfolio also holds positions in natural resources and an aerospace training fleet tied to the university's aviation program. Confirmed partners include Sanford Health, which has co-invested in athletic and healthcare facility endowments, and Edgewood Healthcare, led by board member Phil Gisi. Board leadership brings unusual operational heft for a regional university foundation. Investment Committee Chair Randy Gershman is a financial advisor at Edward Jones; Finance Committee Chair Chad Wachter leads Investcore, Inc.; Vice Chair Troy Bader is the President and CEO of International Dairy Queen Corp. Board member David St Peter runs the Minnesota Twins, while Mike LeBeau serves as President of Sanford Health. The organization surpassed its initial $500 million campaign goal early and reset the target at $625 million by end of 2026, buoyed by gifts like the Tareen family's $5 million commitment to launch a dermatology program. The foundation's structure creates a distinctive sourcing advantage: it functions simultaneously as a fundraising engine, a real-asset owner, and a limited partner. Property holdings include commercial buildings at 2750 Gateway Drive, the Pi Phi Property, the Gershman Graduate Center, and a significant mineral rights and royalties portfolio. This triple mandate allows the foundation to use physical campus assets to generate returns while deploying donor capital into scholarships, new endowments, and university facilities — a perpetuity alignment most standalone foundations cannot replicate.
General information
Firm type
Endowment / Foundation
Year founded
1889
AUM
$404M (Altss estimate)
Location
Region
North America
Country
United States
City
Grand Forks
Corporate office
Grand Forks, ND, United States
Principals
DeAnna Carlson Zink
CEO
Altss tracks 3 additional named team members for this firm — including direct investment leads, IR, and operating principals not listed on the public website.
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Frequently asked questions
Who runs investment decisions at the UND Alumni Association & Foundation?
Investment oversight is split between the Investment Committee and the Finance Committee. Investment Committee Chair Randy Gershman, a financial advisor at Edward Jones, guides the investment policy alongside Finance Committee Chair Chad Wachter, President and CEO of Investcore, Inc. CEO DeAnna Carlson Zink leads the overall organization, while day-to-day portfolio management is handled by internal investment staff and outside managers.
How is the foundation's portfolio structured across asset classes?
The foundation operates across multiple asset classes including direct commercial real estate, mineral rights and royalties, commodity hedges, limited partnerships, private credit, and secondaries. Physical holdings include the Gorecki Alumni Center, Memorial Village, the Nodak Insurance Company Sports Performance Center, and an aviation training fleet. The portfolio also participates in fund-of-funds structures and natural resources investments.
What is the relationship between the foundation and the University of North Dakota?
The UND Alumni Association & Foundation is the official fundraising and private gift-receiving organization for the University of North Dakota. It operates as an independent nonprofit that works closely with university leadership to fund teaching, research, and public engagement. The foundation connects over 120,000 alumni to each other and to campus, while managing the endowment and physical assets that support the university.
What is the Forever UND campaign and how much has it raised?
Forever UND: The Campaign for the University of North Dakota launched with a $500 million target, which it surpassed well ahead of deadline. The goal was subsequently reset to $625 million by the end of 2026. In 2025 alone, the foundation received a record $119.9 million in donations, the largest single-year total in its history.
Does the foundation directly own real estate assets beyond the campus footprint?
Yes. The foundation's real estate portfolio spans multiple properties in Grand Forks including the Gorecki Alumni Center, Memorial Village, 2750 Gateway Drive, the Gershman Graduate Center, and the Nodak Insurance Company Sports Performance Center. It also holds mineral rights, royalties, and an aerospace training fleet associated with UND's aviation program.
Who sits on the foundation's board, and what operational experience do they bring?
Board leadership includes Vice Chair Troy Bader, President and CEO of International Dairy Queen Corp.; David St Peter, President and CEO of the Minnesota Twins; Mike LeBeau, President of Sanford Health; and Phil Gisi, CEO of Edgewood Healthcare and co-founder of Edgewood REIT. The board blends healthcare, sports management, real estate, and consumer brands experience with local investment expertise.
How does the foundation use donor capital alongside its investment portfolio?
Donor contributions fund scholarships, new endowments, and university facilities while the investment portfolio generates returns that sustain ongoing operations. The foundation raised $119.9 million in 2025 and channels gifts into designated programs — such as the Tareen family's $5 million dermatology program — while simultaneously managing mineral rights, real estate holdings, and limited partnership positions that produce income independent of annual fundraising.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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