Washington State University Foundation

Washington State University Foundation

The Washington State University Foundation was established in 1979 to manage private gifts and assets for the university. Under CEO Mike Connell and CFO Hao-Yu Chiu, the foundation operates as the central philanthropic and investment vehicle for WSU, channeling donor capital into the university's teaching, research, and service mission. Its funding base includes major partners such as Schweitzer Engineering Laboratories, Jordan Schnitzer, and the Bill & Melinda Gates Foundation, alongside a broad alumni network. The foundation allocates across a wide strategy set — including buyout, venture capital, distressed debt, natural resources, timber, and special situations — through both direct investments and fund commitments. Its real-asset footprint includes the Town Centre Building in Pullman, the Cougar Property Holdings land portfolio, research orchards in Prosser and Wenatchee, and the Schweitzer Engineering Building. The investment office also manages a cryptocurrency donation program and split-interest agreements, reflecting an operational posture that extends beyond standard endowment management. Connell leads a team embedded within WSU Advancement, coordinating financial services with campus and system-wide leadership. The foundation's adjacent physical holdings include the Taylor Sports Complex, the Ste. Michelle Wine Estates WSU Wine Science Center in the Tri-Cities, and WSUF Properties LLC, a mixed-use portfolio. In May 2024, the foundation's sister unit, the WSU Alumni Association, completed a restructuring to align more closely with Advancement goals (per WSU, 2024). The foundation's most distinctive structural feature is its management of a significant art portfolio within the Jordan Schnitzer Museum of Art WSU. The permanent collection, which includes works by Andy Warhol and Jim Dine, is both a cultural asset and an illiquid endowment component — a configuration rarely seen at a public university foundation.