Role of the 49er Foundation
The CSULB 49er Foundation advocates for the people and programs at California State University, Long Beach through the management of private support and the stewardship of donors. More than ever before, CSULB depends on private support to sustain and enhance the academic excellence for which it is nationally recognized. More importantly, the university’s diverse, superlative offerings are what enable the academic, professional and personal success of thousands of students.
The California State University, Long Beach Foundation was founded in 1956 to administer contracts, grants, non-philanthropic dollars and non-state dollars. Out of necessity, that mission expanded to include management of philanthropic dollars and the university’s endowment.
Throughout the higher education community of the United States, campuses have created a more focused foundation model—one that divides duties among two foundations. One foundation manages philanthropic contributions and the second one manages corporate and auxiliary fiduciary matters. CSULB is adopting this two-foundations model. The new 49er Foundation will raise and manage philanthropic dollars and manage the university’s endowment. The existing CSULB Foundation will return to the mission upon which it was founded and focus on contracts, grants, non-philanthropic dollars and non-state dollars.
The 49er Foundation Board will be the primary conduit for all philanthropic support to the university, and it will have fiduciary responsibility of CSULB’s endowment.