The Fayetteville State University Foundation, Inc. is an independent, non-profit 501(c)(3) organization incorporated in the State of North Carolina in 1969. Being aware of the fact that a state supported institution must have financial support beyond legislative appropriation to achieve excellence in its educational undertaking, this corporation is formed:
A. To solicit, receive, hold, manage and disburse contributions, gifts, grants, bequests and transfers of funds or property of any nature for the benefit of Fayetteville State University, its students, faculty and staff. To use the name of the university in any way which will benefit and enrich or enlarge upon its facilities and programs in accord with the direction of the donors and acceptable to the administrative officials of the university.
B. To act as Trustee, escrow or disbursing agent with respect to any endowment, gift, grants, contributions or bequests made for the benefit of Fayetteville State University, its students, faculty and staff, under the terms of the Trustor or donor and to carry on such functions as will accomplish the purpose and intent of the gift, endowment, trust or grant.
C. To sponsor, encourage, conduct and render financial assistance in student aid programs, alumni events, public relations activities, faculty supplements, curriculum enrichment programs, research projects and studies as approved by the proper authorities of the university.