The Queens College Foundation is a not-for-profit educational foundation chartered by the Department of Education of the State of New York and recognized as a federally tax-exempt organization. As with many public colleges and universities the Queens College Foundation was established in part to ensure that state-budgeted funds are maintained separate from private and corporate contributions. The Queens College Foundation was founded in 1980 for the added purpose of developing and increasing the resources at the College in order to provide more extensive educational opportunities to students and service to faculty. It receives gifts and grants with which it finances research in fields of intellectual inquiry that are in keeping with the College's educational objectives in its constituent schools. It awards and administers scholarships and fellowships. The Foundation is governed by a Board of Trustees; comprised of prominent business, artistic, and intellectual leaders from New York State and the nation.