# University System of Maryland Foundation University System of Maryland Foundation is an Endowment / Foundation based in Adelphi, United States. ## Overview - **Organization type:** Endowment / Foundation - **Headquarters:** Adelphi, United States - **Region:** North America - **Address:** Adelphi, MD, United States - **Founded:** 1979 - **Assets under management:** $400M – $500M (Altss estimate) - **Website:** usmf.org - **LinkedIn:** https://www.linkedin.com/company/usmfoundation ## Regulatory record - **Reports private funds:** No ## About The University System of Maryland Foundation was established in 1979 to manage philanthropy, assets, and stewardship for Maryland's public universities. Timothy A. Minor has led the foundation as President and CEO since September 2024, also serving as Vice Chancellor for Advancement for the University System of Maryland. The foundation supports all USM institutions alongside six community colleges and regional higher education centers. Steen's investment office allocates across venture capital, buyout, distressed debt, mezzanine, and natural resources. The foundation pursues both direct and fund-of-funds structures, with documented exposure to digital assets, commodity derivatives, and a pure-alpha portfolio. Real asset holdings are unusually explicit for a public endowment: the portfolio includes the Wye Black Angus Herd, the Wye River Facility in Queenstown, and a suite of College Park developments through the Terrapin Development Company — a joint venture with the University of Maryland College Park Foundation. Confirmed projects include the Aster Apartment Complex, Discovery Point, Aviation Landing, and the Hotel at the University of Maryland. The foundation operates with a lean disclosed team; the board includes Mark Levine of Core Capital Partners and Steven Sibel of Caves Valley Partners. Its College Park real estate footprint spans graduate housing, municipal buildings, and commercial leases such as the University of Maryland BioPark space in Baltimore. In September 2024, the system appointed Timothy A. Minor to the foundation's top role, consolidating advancement and investment leadership. The foundation's structural differentiator is its real-asset operating company. Terrapin Development Company converts institution-owned land into income-producing commercial and residential projects, generating returns that flow back into the endowment. This model embeds the foundation directly into the economic development of its host community, a configuration rare among public-university endowments. ## Sectors - Real Estate - Venture Capital - Private Equity - Natural Resources ## People - Timothy A. Minor — President and CEO - Sharcus Steen — Chief Investment Officer - Alan Cason — Chair of the Board of Directors ## Questions ### Who runs investment decisions at the University System of Maryland Foundation? Sharcus Steen serves as Chief Investment Officer, overseeing the foundation's roughly $450 million portfolio. The board includes managing directors from Core Capital Partners and Caves Valley Partners, providing venture and private-equity expertise. ### Does the foundation make direct investments or only fund commitments? The foundation uses both approaches. It commits to external funds across venture capital, buyout, distressed debt, and natural resources, while also owning direct real assets such as the Wye Black Angus Herd and developing property through the Terrapin Development Company joint venture. ### What is the Terrapin Development Company and how does it relate to the endowment? Terrapin Development Company is a joint venture between the foundation and the University of Maryland College Park Foundation. It develops mixed-use projects on system-owned land in College Park — including the Aster Apartment Complex and Discovery Point — with returns flowing back into the endowment. ### Which institutions benefit from the foundation's assets? The foundation manages assets for the entire University System of Maryland, which includes all public four-year universities in the state, plus six community colleges and regional higher education centers. ### Does the foundation have any environmental, social, or governance commitments? The foundation has been a member of the Intentional Endowments Network since 2016 and is a signatory to the United Nations-supported Principles for Responsible Investment. It also participates in the AASHE STARS sustainability tracking system. ### What real assets does the foundation own directly? Directly owned assets include the Wye Black Angus Herd and associated intellectual property, the Wye River Facility in Queenstown, Maryland, and multiple College Park properties such as the Hotel at the University of Maryland, graduate student housing, and the City Hall Block project. ### How is the foundation governed? Alan Cason chairs the board of directors. The board includes principals from regional investment firms such as Core Capital Partners and Caves Valley Partners. The president and CEO also holds the title of Vice Chancellor for Advancement for the University System of Maryland. ## Related profiles - [Stafford Capital Partners](https://altss.com/profile/stafford-capital-partners-inc) - [Folger Shakespeare Library](https://altss.com/profile/folger-shakespeare-library) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/university-system-of-maryland-foundation Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology