The Wayne State University Foundation was established by the university’s Board of Governors in 2000 as a centralized means to encourage and manage financial support from private sources. The foundation is a nonprofit 501(c)(3) corporation. Though independent of the university, it partners with the Division of Development and Alumni Affairs in realizing Wayne State’s overall advancement objectives. 

The foundation is governed by a board of directors made up of prominent business and community leaders. It is led by a chair chosen from among these individuals and a president who also holds the university title of vice president for development and alumni affairs. 

Working together, the Wayne State University Foundation and the Division of Development and Alumni Affairs cultivate private support to advance the university’s mission. Funds raised enable Wayne State to offer undergraduate and graduate student scholarships, endow faculty chairs and professorships, advance academic and scientific programs and research, and enhance the campus infrastructure. During fiscal year 2023, Wayne State University raised more than $103.2 million in new gifts and pledges from more than 18,800 donors. 

The Wayne State University Foundation includes an investment committee that assists the board with all investment-related decisions, including oversight of the university’s endowment. As of September 30, 2023, the end of the last reporting period, the endowment totaled $507.7 million. Earned income from the endowment provides funding for donor-identified purposes in perpetuity. Nearly two-thirds of the endowment at Wayne State is designated for student and faculty support. 

The generous contributions of individuals, corporations and foundations are an essential supplement to state appropriations, tuition and research-related income. These gifts supply the critical margin that enables Wayne State to excel in its educational mission and to enhance its public service.