Usman Memorial Foundation was formed in 1973 in the memory of Late Mohammad Usman, by his family members, friends and well-wishers. Mr. A.K. Brohi was the first President, while Dr. Manzoor Ahmad was the Secretary General of the Foundation.

There were two Usman Memorial Scholarship awarded to research scholars namely Dr. Syeda Khatoon for research entitled "An Analysis of Religion Philosophy of Sir Syed Ahmed" and Dr. Rasheed Ahmed Jalandri for research entitled "Deoband Movement and Religious reforms". Both the research papers were published in the shape of a book.

In 1994, the Foundation established Usman Institute of Technology (UIT) on the plot of land allotted to the Foundation located at Abul Hasan Isphahani Road, with total contribution from the Hasham family. UIT is affiliated with NED University. The Managing Committee of the Foundation plays a significant role in overseeing the affairs of UIT.

Vision
-To be a center of excellence for creating new and useful knowledge and to produce professional leaders who could compete with the best in the world and bring about a paradigm shift in the quality of life of the people of Pakistan.

Mission
-To create new and useful knowledge for solving Pakistan’s and international problems and produce leaders who are technically excellent, socially and environmentally responsible, innovators, professionals, and entrepreneurs who would act as change agents for the betterment of society and Pakistan.