The Foundation was incorporated in North Dakota as a scientific and educational organization under Section 501(c)(3) of the Internal Revenue Code to make interactions with business and industry possible and to expand NDSU's ability to commercialize its research discoveries for and with domestic and international for-profit business organizations. The Foundation's licensing income is used to suppor
t and expand research and educational activities at NDSU. The NDSU Research Foundation is a separate, independent, not-for-profit organization that facilitates the transfer of NDSU scientific discoveries, technologies, products, and processes to the marketplace. In addition, the Foundation supports North Dakota State University in its teaching, research, and public service missions by enabling NDSU faculty to become involved in research, product and business endeavors. Partnering with local, regional, national, and international businesses and industries, the NDSU Research Foundation facilitates the commercialization of intellectual property developed by NDSU faculty, students, and staff. A board of directors is responsible for the management and general administration of the NDSU Research Foundation. This eleven-member board is composed of a diverse group of industry and academic leaders. Because NDSU technologies span a wide variety of industries, this broad spectrum of board members provides the Foundation with invaluable knowledge and experience. Board meetings are held quarterly with an annual meeting in October. The NDSU Research Foundation is administered through an Executive Director who reports to the Board of Directors.
