The George Mason University Foundation was established in 1966 to advance and further the aims and purposes of George Mason University. It is a 501(c)(3) non-profit foundation organized and operated exclusively for the benefit of the university. The foundation assists the university in generating private support, and manages, invests, and administers private gifts, including endowment and real property. It is governed by a volunteer Board of Trustees, led by a chairman. The vice president of University Development and Alumni Affairs of George Mason University serves as president of the foundation.