FIMU was established in 2008 as a US 501 (c)(3) non-profit corporation. Its responsibilities include administering the financial aspects of the funds obtained from US-based foundations, as well as financing IMU prizes. 

It also administers the contributions of members of the AMS and other donors, directed to foster mathematics research and scholarship in developing countries.  The Friends of the IMU gratefully acknowledge the continued support of the American Mathematical Society.