The Albany State University Foundation, Inc. solicits and accepts private gifts, including in-kind gifts, to Albany State University. In addition to this development function, the Foundation maintains donor records, manages the assets under its control and disburses monies to support university programs.
The Foundation is a non-profit organization given the privilege of tax exemption. Article II of the Articles of Incorporation of the Albany State University Foundation, Inc. states: “The purpose for which the corporation is formed and the business and objects to be carried on and promoted by it are as follows”:
- To provide resources, services and money for scholarship and student aid.
- To provide an opportunity through the subjected services, resources and money for disadvantaged youths to become constructive and productive citizens on a non-profit basis.
The Foundation Board expanded on the initial purpose by approving five major areas of emphasis and fund-raising:
- Institutional Enrichment
- Faculty/Staff Development
- Operations Management