Much of the income needed to develop and maintain programs of excellence in education, research, extension, and public service must come from the private sector. Decreases in federal and state financial support have given rise to a need for greater sophistication in the area of fundraising.
The Alabama A&M University Foundation was established to receive, hold, invest, manage, use and administer property of all kinds, whether given absolutely or in trust for the benefit of Alabama A&M University (AAMU) and its educational, research, cultural, public services, and support activities. The Foundation also creates a financial support partnership with any University unit.
In earnest, the AAMU Foundation is essentially an entity comprised of three closely related components:
- The AAMU Foundation, Inc., which serves as a repository for numerous departmental and other pertinent University accounts
- The Foundation LLC
- The University Trust, which handles the University's endowment and investment portfolio
Moreover, the Foundation is the repository and manager of private gifts for Alabama A&M University. It performs gift reception, accounting, investment, and overall management while the University’s development operation raises the funds.
The body is governed by a capable, 15-person Board of Directors chaired by the President of Alabama A&M University. The Vice President for Marketing, Communications and Advancement serves as Vice Chair of the Board. The Executive Director manages the day-to-day operations of the University Foundation. As the Foundation's chief executive officer, the Executive Director is responsible to the Chairman and the Board of Directors of the Foundation for planning and coordinating programs and activities, which support the goals of the Foundation.