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U foundations merge to better serve donors

The boards of the University of Minnesota Foundation (UMF) and the Minnesota Medical Foundation (MMF) voted on Jan. 23 to merge into a single entity. The merger is designed to better serve University donors by providing one voice for private giving at the U and ensuring greater operational excellence in gift administration.

The Board of Regents ratified the merger, which took effect on Feb. 1 and coincided with the planned retirement of UMF president and chief executive officer Steve Goldstein.

Becky Malkerson, former president and CEO of MMF, will serve as interim president and CEO of the newly combined organization, which will operate as the University of Minnesota Foundation.

Malkerson chose not to be considered a candidate for the permanent position and has agreed to serve as the senior executive responsible for University-wide development once a new leader is chosen. That search is under way.

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