The Medical University of South Carolina (MUSC) Foundation was chartered in 1966 as a charitable, educational foundation to support the education, research, patient care, and other programs at the Medical University. The foundation is a 501(c)(3) tax-exempt organization, contributions to which are tax-deductible.

Since its beginning, the MUSC Foundation has encouraged such worthwhile academic enterprises as endowed professorships; scholarships; the acquisition and development of campus facilities to serve student, teaching, research, or clinical needs; and awards in honor of academic excellence. In addition, it has encouraged achievements in biomedical research.