The university's development efforts are closely tied to the Cameron University Foundation, Inc. The mission of the CU Foundation is to "promote educational, scientific and cultural interests at Cameron University for the benefit of Cameron students and the citizens of southwest Oklahoma."

The CU Foundation was founded March 22, 1972, for the purpose of collecting, administering and disbursing gifts and endowments for the benefit and continuing support of Cameron University. The Foundation is a nonprofit, 501(c)(3) organization as determined by the Internal Revenue Service. Certification of this fact is available upon request.

The Foundation is governed by a board of directors composed principally of civic leaders of the region. Foundation executive officers are elected by the board and are charged with execution of all contracts, agreements, deeds, bonds, mortgages and other obligations in the name of the corporation. Operations of the Foundation are guided by procedures and by-laws approved by the board of directors.

Day-to-day operations of the Foundation are conducted by Cameron University employees acting on behalf of the Foundation, as directed by the written procedures.

Operational oversight is provided by the Foundation executive committee acting on behalf of the board of directors. The executive committee consists of the corporate officers and the officers of the board of directors.

The Cameron University Foundation, Inc. is audited annually by a qualified auditing firm. Special interest audits are conducted by the University of Oklahoma audit office.