About VUST Foundation
Virginia University of Science & Technology FOUNDATION
The Virginia University of Science & Technology Foundation (DBA: VUST Foundation or Foundation) is a completely operating subsidiary of the nonprofit organization ( 501 (c)(3) ) at Virginia University of Science & Technology under and by virtue of the General Laws of the Commonwealth of Virginia.
VUST Foundation is affiliated educational support organization of Virginia University of Science & Technology. The Foundation facilities to exclusively support the higher educational programs, faculty teaching, research projects, students activities and international exchange programs and etc. at Virginia University of Science and Technology for high education related services. The Foundation is committed to assist and support VUST to achieve Virginia University of Science & Technology’s mission and vision via conducting fundraise, providing scholarships, building corporation partnerships, collecting donations, etc.
The Foundation is organized exclusively for charitable, scientific and educational purposes, the making of distribution to organizations that qualify as exempt organizations under Section 501 (c)(3) within of the Internal Revenue Code of 1954 (or the corresponding provision of any future United States Internal Revenue Law), and, more specifically, to receive and administer funds for such charitable, scientific and educational purposes, all for the public welfare, and for no other purposes, and to that end to take and hold, by bequests, devise, gift, purchase, or lease, either absolutely or in trust for such objects and purposes or any of them, any property, real, personal or mixed, without limitation as to amount of value, except such limitations, if any, as may be imposed by law; to sell, convey, and of the before, and to deal with and expend the income therefrom for any of the before-mentioned purposes, without limitation, except such limitations, if any, as may be contained in the instrument under which such property is received; to receive any property, real, personal or mixed, in trust, under the terms of any of them, and in administering the same to carry out the directions, and exercise the powers contained in the trust instrument under which the property is received, including the expenditure of the principal as well as the income, for one or more of such purposes, if authorized or directed in the trust instrument under which it is received, but no gift, bequest in the trust instrument under which it is received, but no gift, bequest or devise of any such property shall be received and accepted if it be conditioned or limited in such manner as shall require the disposition of the income or its principal to any person or organization other than charitable, scientific and educational organization’ or for other than charitable, scientific and educational purposes’ within the meaning of such terms as defined in article TENTH of these Articles of Incorporation, or as shall in the opinion of the Board of Directors, jeopardize the federal income tax exemption of the Corporation pursuant to Section 501 (c)(3) of the Internal Revenue Code of 1954.
The Foundation main activities are including, but not limited to, as following:
1. Provide support services to high education programs for the general public by operating university educational programs open to the world;
2. Provide support services to professional training and continued education for people in the United States and outside of the United States to serve educational, scientific and charitable purposes;
3. Organize and sponsor science and technology exchange programs, such inviting foreign scholars and professionals from other countries to the United States on educational and scientific projects;
4. Raise funds and receive contributions to set up trust funds to assist students and scholars who would not be able to fulfill their proposed studies or researchers otherwise;
5. To promote the public awareness of importance on the study of science and technologies.
For more information about VUST Foundation, please the Foundation website:www.vustedu.us