College of Charleston Foundation
The Mission of the College of Charleston Foundation is to promote programs of education, research, student development, and faculty development for the exclusive benefit of the College of Charleston.
Taken from the Certificate of Incorporation signed in 1970:
"The Purpose of the College of Charleston Foundation is to establish an education foundation for the benefit and support of the College of Charleston, to receive, acquire, raise, invest and reinvest money and property and to use the net proceeds there from for the exclusive benefit of the said College, no part of the corporation's net proceeds to inure to the benefit of its members or a private individual. In the event of the voluntary or involuntary dissolution of the corporation, the Board of Directors shall, after paying or making provision for payment of all of the liabilities of the corporation, dispose of all of the assets of the corporation exclusively for the purposes of the corporation to the State of South Carolina, or a political subdivision or agency thereof, or in such manner, or to such organization or organizations organized and operated exclusively for educational purposes as shall at the time qualify as an exempt organization or organizations under section 501 (C) (3) of the Internal Revenue Code of 1954 (or the corresponding provision of any future United States Internal Revenue Code), as the Board of Directors shall determine."