The Old Dominion University Research Foundation is a separate, private, not-for-profit corporation chartered under the laws of the Commonwealth of Virginia in 1965. The Foundation serves as the fiscal and administrative agent for sponsored research and other projects conducted by Old Dominion University. The Foundation has the authority to enter into agreements with external funding agencies on behalf of the University, and it provides a complete range of administrative and fiscal services in support of funded projects.

The Foundation is governed by a Board of Trustees which is responsible for upholding the Foundation's constitution and by-laws and for establishing its policies. The Board is composed of the President of the University, appointed University representatives, and prominent members of the local business and professional community.

Day-to-day operation is conducted by an administrative staff, supervised by the Executive Director. The Executive Director coordinates Foundation activities with the University through the University's Vice President for Research.

The Foundation's purpose is to promote the educational objectives of Old Dominion University by encouraging, advancing, fostering, and conducting research in engineering, the physical and life sciences, the humanities, education, and all other branches of learning. The Foundation also supports utilizing, publishing, or otherwise making known the results of such investigations and research.

While technical direction of a sponsored project remains the sole responsibility of the principal investigator/project director, the Foundation provides a broad range of administrative and fiscal services. These services assist the investigator in the administration of a project and enable the Foundation to meet its overall responsibility for project administration. These services include, but are not limited to:

• Pre-award Services: support services for the preparation of proposal budgets, submission of proposals to potential sponsoring agencies, and negotiation of all awards.
  
  
• Post-award Services: support services to investigators in the fiscal administration of projects and serving as the liaison between the sponsor and the individual investigator regarding financial matters. Functions include establishing accounts for recording financial transactions; preparing financial reports to sponsoring agencies; preparing monthly financial statements for the investigator outlining encumbrances, expenditures, and unspent balances to date; conducting all purchasing and personnel and payroll requirements; and interpreting and disseminating administrative and fiscal policies and procedures to investigators.

General Services: establishment of project-related computer accounts; screening and clearance of equipment purchases; submission of several project-related reports; and other project-related services.