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The Tarleton State University Foundation, Inc. is a non-profit organization established to provide financial assistance to Tarleton State University primarily from earnings on endowed funds, gifts, or property. The Foundation acts independently of the University and the Texas A&M University System solely for the benefit of Tarleton State University.

Funds generated by the Foundation provide expansion and improvements in the areas of academics, student recruiting, scholarships, new buildings, and other programs where appropriated funds are not available for such purposes. Private gifts to the Foundation of either an unrestricted or restricted nature benefit the University in many ways. Through the Foundation and the dedication of its Directors, every individual has the opportunity to assure Tarleton's commitment to excellence in education.

The Foundation manages, invests, and distributes all funds in the trust estate of the Foundation for the furtherance of educational purposes at Tarleton including scholarships, opportunity awards for students, purchase of property or construction, student recruiting, and any other activities permissible under the laws of the State of Texas.