The Icfaian Foundation, was established as a non-profit educational society, is mandated to serve the cause of higher education and research. ICFAIAN is an acronym representing seven key attributes : Integrity, Character, Fearlessness, Achievement, Innovation, Adventure and Nobility. The Icfaian Foundation promotes these attributes among society in general, and its members, faculty and students, in particular.

The Icfaian Foundation is a Non-Governmental Organization and believes in maintaining total intellectual independence, academic autonomy and operational freedom, and therefore, it neither seeks to identify itself with any government, nor operates with any government funding. The Icfaian Foundation believes in market recognition and subjects all its activities to the market test.

The Icfaian Foundation is an Equal Opportunity Institution and provides equal opportunity to all. In its educational programs, activities, admission and employment policies, the Icfaian Foundation does not discriminate on the basis of sex, race, color, caste, language, religion, age or national origin. The Icfaian Foundation believes in Merit and Merit Alone.

The Icfaian Foundation is an Ethical Institution and conducts its affairs within a clear framework of ethics. The Icfaian Foundation believes in transparency and promotes an open culture.

The motto "MERITUM ETHICUS" emphasizes the commitment of the Icfaian Foundation : Merit with Ethics.