On July 1, 2012, as part of the merger between Kent State University and the Ohio College of Podiatric Medicine, the OCPM Foundation was established for charitable and educational purposes. The OCPM Foundation is operating as a 501c (3) private foundation. The foundation promotes and fosters podiatric medical education and research by awarding grants supporting projects related exclusively to podiatric medical education. The OCPM Foundation will award grant money up to an annual aggregate of $1,000,000 annually, for all grants funded.

The OCPM Foundation is governed by a board of trustees whose main purpose is to preserve the financial stability of the foundation and manage the assets. Should it ever become necessary, the OCPM Foundation's assets will be used to reinstitute a college of podiatric medicine in Northeast Ohio. The OCPM Foundation Board of Trustees will play an important role in approving grants. They fully support and are committed to awarding annual funds related to projects that will enhance the future of podiatric medical education and research.