The Minnesota Private College Fund works with a Funding Committee, a subset of the Minnesota Private College Council Board, to establish operating goals and procedures. The 2010-2011 Funding Committee members are:

• Russell Michaletz, Deloitte Tax LLP — Chair
• MaryAnn Baenninger, College of Saint Benedict
• Jay Coogan, Minneapolis College of Art & Design
• Robert Holst, Concordia University, St. Paul
• Dr. Eric Jolly, Science Museum of Minnesota
• Br. William Mann, Saint Mary's University
• Laurie Nordquist, Wells Fargo
• Jack Ohle, Gustavus Adolphus College
• Steven Poskanzer, Carleton College
• David Sparby, Northern States Power Company - Minnesota (Xcel Energy)
• David Swanson, US Bank