Donald R. Watson Foundation

The Donald R. Watson Foundation, Inc. (the "Foundation") was organized on February 23, 1994, as a North Carolina non-profit corporation whose purpose is to support charitable, religious, scientific, and educational organizations which are tax-exempt and eligible to receive charitable donations under Section 170(c)(1) or (2) of the IRS code. Although legally separate from the University, the Foundation is considered a blended component unit of the University, because the University appoints majority of the Foundation's Board of Directors.

The Foundation is entirely funded by the original endowed gift, and the earnings on this endowment, that was donated by the benefactor at the inception of the Foundation. In recognition of his philanthropy the Watson College of Education was named in his honor to perpetuate his vision.

The organizations supported by the Foundation are the University of North Carolina Wilmington (the "University"), Duke University, and St. John's Episcopal Church in Wilmington, N.C.