The Morrisville Veterans Memorial Foundation (MVMF) Inc. was chartered as a non-profit corporation by the State of North Carolina on March 2, 2016. The Foundation was recognized by the Internal Revenue Service as a 501(c)(3) public charity on February 21, 2018. Its mission is to raise funds for the construction of a memorial that will recognize and commemorate veterans of the United States armed forces for their service to the nation and its citizens. All contributions, bequests, devises, transfers, and gifts to the Foundation are tax deductible.

The purpose of the memorial is to serve as a site for quiet and reverent reflection on the service and sacrifices made by veterans of the United States armed forces. The Town of Morrisville has generously provided land next to the Indian Creek Greenway on which the memorial will be built. This centrally-located site has high visibility, easy accessibility, clean restrooms, and free parking.