University of Memphis Research Foundation
The University of Memphis Research Foundation (Research Foundation), a public benefit company, was established on June 16, 2006. The Research Foundation was formed to promote the objectives of The University of Memphis (University) by providing higher education, conducting research, providing public service, and assisting in economic development in Tennessee. In furtherance of these objectives, the Research Foundation will facilitate acquisition of sponsored research funds from public and private sources, solicit donations to support activities of the Research Foundation, pursue appropriate legal protection for proprietary technologies developed through University research, hold and manage intellectual property assets on behalf of the University, and promote commercialization of research products and transfer of University technologies to appropriate partners for their further development and commercialization. In accordance with the research Foundation's charter, the Research Foundation is authorized to perform similar activities in support of other institutions within the Tennessee Board of Regents (TBR) System.
The Research Foundation is organized exclusively for charitable, scientific, literary and educational purposes, including for such purposes, the making of distributions to organizations that qualify as exempt organizations under Section 501(c)(3) of the code, as amended, or corresponding section of any future federal tax code; and , to the extent consistent with the provisions herein, to do any and all things allowable under the Tennessee Nonprofit corporation Act. The corporation is organized to operate for the benefit of the University of Memphis, which is owned and operated by a government unit, as an organization described in Sections 170(b)(1)(A)(iv) and 509(a)(1) of the Code, but only to the extent that such functions and purposes are exclusively for charitable, scientific, literary and educational purposes.
Specifically, the Research Foundation is organized to benefit the University of Memphis, a public institution of higher education, for the following purposes:
- developing and administering sponsored research and other projects conducted by the faculty and staff of the University of Memphis;
- coordinating a sponsored research program for the University of Memphis;
- encouraging, promoting, and aiding in the fulfillment of the educational, service and research functions of the University of Memphis;
- using and applying the whole or any part of the income and principal received exclusively for charitable, educational, and scholarly purposes; and
- encouraging, promoting and aiding the transfer of technologies generated in the course of research conducted by University of Memphis faculty, staff and students.
The Research Foundation's policies and procedures must be followed to maintain the highest integrity and to ensure conformance with the Research Foundation's Charter and Bylaws.