Established in 2011, Florida State University Real Estate Foundation primarily exists to receive contributions of real estate to hold, manage, lease, mortgage, develop, administer or sell in order to contribute or distribute all or a portion of the net proceeds from such activity to Florida State University, the Florida State University Foundation, or such other entity as the board may determine appropriate.

The Florida State University Real Estate Foundation is registered as a separate corporation in the state of Florida and has been granted status as a direct support organization of the university. The IRS has determined that the corporation qualifies as a tax-exempt public charity, and contributions to the Real Estate Foundation are deductible under section 170 of the Internal Revenue Code.