Oklahoma State University's new president says the school is cutting off funds for its Innovation Foundation, which is central to a scathing audit.

OSU laid off 12 Innovation Foundation employees after an audit found $41M in misappropriated funds, including $11.5M wrongly sent to the foundation.

An internal audit of the OSU Innovation Foundation says the handling of $41 million in state appropriations did not conform ...

The audit report covers financial missteps from July 2022 through January 2025. It includes $11.5 million in unauthorized transfers to OSU's Innovation Foundation, which aims to enhance OSU's impact ...

In an email to faculty and staff, Interim President Jim Hess said funding has been "discontinued" for "The Innovation Foundation at OSU and the shared services and facilities positions within it.

The report determined that $11.5 million of the $41 million in misappropriated funds were transferred to the Innovation Foundation, Inc. without a written contract approved by the OSU/A&M Board.

The Innovation Foundation is a separate legal entity that manages research initiatives, technology commercialization, and business partnerships tied to OSU. Previously known as the Oklahoma State ...

A longtime venture capitalist from Tulsa, Tracy Poole, has been nominated by Gov. Kevin Stitt to serve on the OSU/A&M Board ...

OKLAHOMA CITY — Twelve Innovation Foundation employees were laid off ... a spokesperson for OSU, in a statement on Monday.

STILLWATER, Okla (KFOR) — New details are being released on an audit at the Oklahoma State University. As reported by NonDoc, an internal audit revealed $41 million in funds from the legislature ...