Together with other donors, the Universitätsgesellschaft Oldenburg e. V. has set up its own foundation to support the University of Oldenburg in research and teaching, promote student facilities and foster the relationship between the university and the population. The foundation has a basic endowment of €75,000.

The founders to date are: Dr h. c. Peter Waskönig, CeWe Color AG, the EWE Foundation, Bremer Landesbank, Oldenburgische Landesbank AG, Oldenburgische Landesbrandkasse, Landessparkasse zu Oldenburg, Insa Stoidis-Connemann, Vierol AG and Universitätsgesellschaft Oldenburg e.V.

The UGO Förderstiftung, established in 2005, can accept endowments, e.g. by testamentary disposition or by donation during one's lifetime, promptly and without great administrative effort. Future donors can thus emphasise their sense of citizenship and link their name "for eternity" with the University of Oldenburg as a culturally and economically important driving force for the north-west region.

The UGO Förderstiftung is supervised by a board of directors and a board of trustees made up of personalities from among the founders. The interest income generated by the foundation's capital is made available in full to the Universitätsgesellschaft Oldenburg e.V. for funding purposes and can thus, over time, significantly increase the association's income, which was previously only available through membership fees and individual donations.