Michigan State University Foundation is an independent non-profit corporation based in Lansing, Michigan. Established in 1973, it serves as a flexible and ongoing resource, responsive to the University's strategic needs and supports research, teaching, and commercialization of technologies. The foundation has a longstanding role as a fiduciary and trustee for charitable annuities, trusts, and gifts of property on behalf of the University of Michigan. The assets are managed by the board of directors.Michigan State University Foundation's investment portfolio is valued at $382.85 million with investments in private equity, fixed include international and domestic equity, real estate, and hedge funds.