Established in October 2000, the Foundation supports and enhances educational opportunities in the school district. The Foundation is the only community volunteer organization that serves all schools in the District and provides a way for the community to support all educators, volunteers, and students.

Through the yearly grant program, funds are available to students, teachers and organizations to provide educational opportunities that are not funded from the school district budget. The Foundation Awards Committee determines the distribution of awards, based on academic quality and need.

Annual scholarships for Ankeny students are also supported by the Foundation. Scholarships are administered by the local Dollars for Scholars group, as directed by the donor or memorial established.

The non-profit status of the foundation offers tax benefits to donors such as alumni, individuals interested in tax-deductible donations, estates, and memorials. The Foundation is funded solely by private grants, endowments, and donations.