The Northern Foundation came together in the 1960s as a group of dedicated alumni and community leaders who sought to raise and invest private funding for the University to augment its other revenue streams. The Northern Foundation later became known as the MSU Northern Foundation when Northern Montana College became Montana State University – Northern.  In 2014 the, MSU-Northern Foundation merged with the Northern Alumni Foundation creating one team with one board of trustees dedicated to supporting the initiatives of the University. The Foundation is a legally separate 501(c)(3) charitable organization that functions as a supportive arm of MSU-Northern.

The Foundation focuses its efforts on donor stewardship through customer service and assurance in gift acceptance, processing and administration. The Foundation invests and allocates gift funds in a manner consistent with the purposes established by donors, and distributes dollars from its managed funds to support a wide variety of programs and activities throughout the University system. Along with encouraging philanthropic giving, the Foundation also encourages alumni and community engagement through fundraisers, campus activities, social media and events around the state.