The Middle Tennessee State University Foundation is a legally separate, tax-exempt organization supporting Middle Tennessee State University based in Murfreesboro, Tennessee. Established in 1961, the foundation acts primarily as a fundraising organization to supplement the resources that are available to the University in support of its progra The assets of the endowment funds are managed and governed by the Board of Trustees.Middle Tennessee State University Foundation's investment portfolio is valued at $65.98 million, with investments in domestic and international equity, fixed income, private equity, and real estate.