The West Lake Education Foundation is the sponsor of West Lake University and the main fundraising body of the donation fund of West Lake University. It is the pivotal link between West Lake University and society. Its mission is to promote the positive interaction and cooperation between West Lake University and social resources, and to promote the establishment and development of universities by absorbing social resources.

In August 2018, sponsored by the West Lake Education Foundation, the China Youth Entrepreneurship and Employment Foundation officially launched the New China Public Welfare (Xinhua Public Welfare) platform to receive public donations.