The Gaspar Frutuoso Foundation, FP, also known as FGF, based on the Ponta Delgada Campus, is a Public Foundation under Private Law, endowed with legal personality, bodies and its own assets and administrative and financial autonomy, governed by its statutes, internal regulations, the Framework Law on Foundations and other applicable legislation. Its purpose is to promote scientific, technological, social, cultural, artistic, sporting, economic and environmental activities, among others.

The Foundation was created with an initial endowment of €748,196.85 euros from its Founder - the University of the Azores.