In 1982, a small group of college and community leaders formed an organization to provide a base for financial and public support for Athens State University. The Athens State University Foundation was created as a privately controlled, independent organization of philanthropic aid to the institution. The Foundation is recognized as a non-profit organization under the Internal Revenue Service's 501c3 guidelines.

While state appropriations provide a base for university operations, the foundation has a common goal of insuring that Athens State University continues as a top regional educational institution. The Foundation is the proper channel for private gifts from individuals, corporations and foundations to the University. These gifts can be annual contributions or a planned gift whereby a donor provides for the University in their will or designates funds to be used in a way they determine will be the best in their long-term interest.