The Cheyney Foundation is a non-profit, tax-exempt corporation operating under the laws of the Commonwealth of Pennsylvania and the Internal Revenue Service in order to accept gifts and grants to benefit the programs, activities and the overall strategic plan of Cheyney University of Pennsylvania.

The Cheyney Foundation promotes the mission and advancement of Cheyney University through the granting of funds in support of scholarships, faculty development, facilities maintenance, and institutional programs.

The Cheyney Foundation has been steadfast in its support of the university's fund raising initiatives. For example, at the 1999 & 2000 Founder's Day Convocations, the Foundation presented checks for $100,000 for each year, respectively, to the university.

The Cheyney Foundation currently manages a number of accounts and funds that directly benefit the university. In recent months, volunteer board members have been working diligently on a number of important items: an investment plan, the MBNA credit card deal, the University's Benefit Golf Classic, Sponsorship of Living Legends Awards Gala, and funding for scholarships.