The establishment of the Foundation was first announced at the 1998 Sigma Lambda Gamma Convention in Schaumburg, IL. Thirty sisters donated $50 each. In 2009, six scholarships were awarded for $1,000 each. In 2010, the Foundation was officially recognized as an independent nonprofit 501(c)(3) organization. At the Sigma Lambda Gamma 20th Anniversary Banquet, the Foundation announced a five year capital campaign to raise $100,000 to establish an Endowment. Twenty Sisters pledged to give $1,000 a year for five years. Five years later, in 2015, 10 Sisters fulfilled their pledge and the Foundation raised $50,000 toward the $100,000 Endowment.

Trustees are stewards who act on behalf of a foundation’s constituents, including funders, members, and donors. The Board has the principal responsibility for fulfillment of the Foundation’s mission and the legal accountability for its operations. As a group, they are in charge of establishing a clear mission, forming the strategic plan to accomplish the mission, overseeing and evaluating the plan’s success, ensuring financial solvency of the organization, interpreting and representing the foundation, and instituting a fair system of policies and procedures for trustees as applicable to foundation operations.