Established in 1995, the founding purpose of ACF has been "strengthening communities by assisting individuals and organizations in creating a lasting gift pool (endowment) for the perpetual benefit of quality of life issues important to Alaskans.
The Foundation is a vehicle for fund development, management and distribution via community grants and scholarships."
The original articles of incorporation were restated and amended in 1998, establishing ACF as it exists today - a nonprofit public charity promoting personal philanthropy and providing financial management, strategic development and donor development services to communities, organizations and donors across Alaska.