One of the most valuable assets of the University is alumni, for their achievements provide the reputation characteristics of the University. The creation of alumni associations that serve as communication, recreational, and respectable centers and communities of professionals is being promoted at Universities. An association that seeks to attract as many members as possible must offer conditions that are attractive to alumni. The process is carried out in the conditions of an imbalance between the growing needs of the University and insufficient budget funding. The article examines domestic and foreign experience of interaction between universities and alumni, including the creation of alumni associations, analyzes the place of Internet resources in the strategy of working with alumni, presents legal and economic perspectives of ensuring interaction in the system of University-alumnus relations, offers a method for evaluating the social effectiveness of events held by the Alumni Association of Dubna State University, designates the sources of endowment funds of universities. Cross-cultural analysis has revealed the features of practices of interaction with alumni used by domestic and foreign universities.