- The LSU Foundation was chartered in 1960 as a nonprofit, tax-exempt, private foundation comprising members who are leaders in business, professions, and civic affairs and who are concerned with the academic advancement of LSU.
- The Foundation's first annual reporting came in 1963, when the total assets of the Foundation totaled a mere $66,132. Based in Pleasant Hall, the Foundation was headed by Mr. Louie C. Reinberg for its first 18 years. In 1978, at the end of Reinberg's tenure as director, the Foundation reported more than $4 million in total assets.
- From 1978 to 1985, Lloyd Moon, Jr. was the executive director of development for the LSU Foundation. The Foundation at that time was housed in the LSU System Building and reported assets exceeding $30 million.
- Dr. Charlie Roberts, the current president of the LSU Alumni Association, headed the Foundation from 1985 to 1996. For much of this time period, the Foundation consisted of less than 15 employees. Still, the Foundation continued to grow under Roberts' direction, reporting $97 million in total assets by 1996.
- In 1996, Cecil Phillips was promoted to executive director of the Foundation. Phillips oversaw the undertaking of the LSU Campaign, LSU's first attempt at a coordinated fundraising effort to benefit the entire LSU community. The response was amazing. The LSU Foundation more than doubled the size of its endowment, growing to $202 million by the year 2002. With a new home in LSU's Lod Cook Alumni Center, the Foundation expanded its employee base and set its goals even higher to benefit LSU academics.
- In August of 2004, the Foundation welcomed a new leader to its ranks. Retired Marine Corps Major General William G. Bowdon became the Foundation’s new President and CEO. Gen. Bowdon immediately increased the size of the Foundation to more than 50 employees and affiliated fundraisers, dramatically increasing the level of activity in LSU academic fundraising. In June of 2007, the Foundation reported an endowment of $338 million. In summer of 2006, LSU began its second campaign, titled "Forever LSU," in which the Foundation and its partner organizations at LSU seek to generate $750 million in support for our university by the end of 2010.
- The Foundation is a 501(c)(3) organization under the U.S. tax code. By charter, the activities of the Foundation are limited to the benefit of three units of the LSU System, LSU's Baton Rouge campus, the LSU AgCenter and the Paul M. Hebert Law Center.
- The LSU Foundation is governed by a board of directors.
- The LSU Foundation provides the central development and endowment management functions for the University at no cost to the University.
- The Foundation works in cooperation with the LSU Alumni Association and Tiger Athletic Foundation to create a university community of which all LSU alumni and friends can be proud.