The Colorado State University Foundation (The Foundation), a not-for-profit corporation, was incorporated in 1970 for the following purposes: (a) to assist in the promotion, development, and enhancement of the facilities and educational programs and opportunities of the faculty, students, and alumni of Colorado State University and (b) to receive, manage, and invest contributions, gifts, and bequests and apply the principal or income generated therefrom exclusively for charitable, scientific, literary, or educational purposes that will directly or indirectly aid and benefit Colorado State University.