The West Lake Education Foundation is the sponsor of West Lake University and the main fundraising body of the Endowment Fund. With the approval of Zhejiang Provincial Civil Affairs Department, the Foundation was established in 2015 as a non-public fund. The Board of Trustees of the Foundation consists of Shi Yigong, Chen 11, Pan Jianwei, Rao Yi, Qian Yingyi, Zhang Hui, Chen Yueguang, Gansu Middle School, Zhao Wei and other social sages. Dr. Liu Hao serves as Executive Secretary of the Foundation.

The West Lake Education Foundation pioneered the establishment of higher education by social forces in China. Its mission is to subsidize new educational undertakings and introduce international top talents. Since its establishment, the Foundation has fully assumed the responsibility of organizing, actively explored new modes of running schools, and expanded social resources to promote the establishment and development of universities.

The West Lake Education Foundation is the central link between West Lake University and all walks of life. It is committed to promoting the positive interaction and cooperation between West Lake University and social resources. The donation income it receives is used to bear most of the operating costs of West Lake University, including the construction of teachers, students, disciplines, faculties and campuses.

The public welfare and educational mission of the West Lake Education Foundation make it possess two kinds of genes inherent in its body. Whether it is an educational Explorer or a public welfare pioneer, the Foundation strives to achieve cross-border integration of education and public welfare. In particular, facing the unprecedented task entrusted to China's education cause by the times, the West Lake Education Foundation is brave enough to undertake its historical mission, actively carry out its social responsibility, strive to create a new public welfare model and draw a new blueprint for development through the "West Lake Practice", and strive to provide a strong impetus and demonstration significance for China's higher education reform and leapfrog high-quality development.