The Wisconsin Association of Independent Colleges and Universities (WAICU), headquartered in Madison, Wisconsin, was founded in 1961 and is recognized under state law as the official organization of Wisconsin private, nonprofit (or independent) colleges and universities and their 57,000 students. Each WAICU member is a nonprofit, fully accredited, four-year baccalaureate and graduate institution. The presidents of these institutions lead WAICU as its board of directors. WAICU recently brought the Wisconsin Foundation for Independent Colleges under its umbrella. As a state-based consortium of private colleges, WAICU is affiliated with the national Foundation for Independent Higher Education (FIHE), which provides member services as well as scholarship and grant support for the organization, its programs and its colleges.