The foundation is operated independently of the university for the exclusive purpose of supporting the university, its academic programs, and its students, and fostering alumni relations. The foundation exists to provide opportunities for students and a margin of institutional excellence unavailable with state funds alone. The foundation raises and receives charitable contributions from friends and alumni of the university and from the general public, manages and invests the contributed property and funds, and makes distributions to the university in support of the university's mission and priorities.
This 501(c)(3) elected the 501(h) safe-harbor — lobbying expenditures are capped under a clear dollar formula instead of the "insubstantial part" standard.