The MassArt Foundation is an independent 501(c)(3) charitable organization founded nearly 25 years ago. Designed to offer financial assistance and support to the college's educational programs and vision for the future, its primary focus is supporting scholarships and financial aid. An independent board of directors and professional staff manage the foundation and its yearly fundraising programs. The foundation's endowment includes permanently and temporarily restricted funds, which are professionally invested by an independent financial manager and overseen by an investment committee. Its financial records are subject to an independent annual audit. The foundation's IRS 990 forms are available at GuideStar.org.